Business
Diokno vows funding for nationwide greening program
October 1, 2018, 8:00 pm
MANILA – Department of Budget and Management (DBM) Secretary Benjamin Diokno vowed to provide funding for environmental projects until 2022, following the success of the Duterte administration's first greening program. In his speech during the launch and recognition program for the “Green,… Read More
PH's September manufacturing index tops ASEAN
October 1, 2018, 7:11 pm
MANILA – The Philippines' manufacturing sector surpassed the performance of its Southeast Asian neighbors in September, as shown by the latest purchasing managers’ index (PMI) survey, IHS Markit reported Monday. In its Nikkei manufacturing PMI for September, the Philippines scored 52, which is… Read More
PH can tap India's USD1-B loan facility for infra program
October 1, 2018, 1:50 pm
MANILA -- A USD1-billion loan facility being offered by India to economies within the Association of Southeast Asian Nations (ASEAN) is available to the Philippines to help fund its “Build, Build, Build” program and digital connectivity projects, the Department of Finance (DOF) said in a… Read More
TRABAHO bill sets P25-B for IT-BPO
September 30, 2018, 11:39 am
MANILA -- The Tax Reform for Attracting Better and High-quality Opportunities or TRABAHO bill is allocating PHP25 billion for five years for the information technology and business process outsourcing (IT-BPO) sector to upscale the skills of its employees. Department of Trade and Industry (DTI)… Read More
PLDT signs new deal with software firm for IT infra upgrade
September 28, 2018, 9:08 pm
MANILA -- PLDT has expanded its partnership with international software company Amdocs for the modernization of its IT infrastructure as it focuses on providing digital services to its subscribers. The telco firm has signed a new agreement with Amdocs for the management and development of PLDT and… Read More
IMF supports PH rice tariffication bid
September 28, 2018, 9:05 pm
MANILA -- The International Monetary Fund (IMF) supports the Philippine government’s bid to implement rice tariffication instead of the rice importation quota system but stressed the need to safeguard the welfare of small farmers. In a statement issued on September 27, 2018 in relation to the… Read More
BSP rate hike boosts peso but local stocks slip
September 28, 2018, 9:04 pm
MANILA -- The Philippine peso ended the week on a positive note, inspired by the additional hike in the Bangko Sentral ng Pilipinas’ (BSP) key rates Thursday but the Philippine Stock Exchange index (PSEi) got the jitters due to an International Monetary Fund (IMF) report citing risks to the… Read More
Aboitiz gains original proponent status on New Bohol Int’l Airport
September 28, 2018, 8:07 pm
MANILA -- Aboitiz InfraCapital Inc. (AIC) was granted the original proponent status (OPS) by the Department of Transportation (DOTr) on its proposal to operate the New Bohol International Airport . The new airport which is located in Panglao Island, is intended to replace the existing Tagbilaran… Read More
IMF eyes recovery of PH economy in H2
September 28, 2018, 7:56 pm
MANILA -- The International Monetary Fund (IMF) forecasts faster growth for the Philippine economy in the second half of 2018, saying that the slowdown in the second quarter was only temporary. In a briefing Friday, IMF Resident Representative to the Philippines Yongzheng Yang said they expect a… Read More
Lopez talks investment prospects with UK-ASEAN bizmen
September 28, 2018, 6:09 pm
MANILA – Trade Secretary Ramon Lopez said he met with members of the United Kingdom - Association of Southeast Asian Nations (UK-ASEAN) Business Council (UKABC) to discuss investment opportunities in the Philippines, during a roadshow in London this week. The roundtable discussion, where he was… Read More
PH, China firming up financing for infra projects: Chinese envoy
September 28, 2018, 5:53 pm
MANILA -- The Philippines and China are firming up financing agreements for infrastructure projects under the government’s “Build, Build, Build” program in time for Chinese President Xi Jinping’s visit to Manila by the end of the year, Chinese Ambassador to the Philippines Zhao Jianhua… Read More
Another rate hike seen in December
September 28, 2018, 9:36 am
MANILA -- Some economists project one more increase in the Bangko Sentral ng Pilipinas’ (BSP) key rates before yearend, even after it has already raised them by a total of 150 basis points in 2018. The BSP on Thursday announced another 50 basis points increase in its key rates on “persistent… Read More
Local markets rise on BSP, Fed rate hikes
September 27, 2018, 9:38 pm
MANILA -- Both the Philippine Stock Exchange index (PSEi) and the Peso ended in the green Thursday following the hikes in the US Federal Reserve and Bangko Sentral ng Pilipinas’ (BSP) key rates during the day. PSEi recovered from a two-day slide after it rose by 0.72 percent, or 52.38 points, to… Read More
Grab expands mobile wallet services
September 27, 2018, 8:27 pm
MANILA -- Ridesharing firm Grab has expanded its mobile wallet services in the country to paying utility bills, food delivery orders, store purchases and restaurant bills. This, as the Bangko Sentral ng Pilipinas has licensed the firm to operate as an electronic money issuer last August. In its… Read More
Korean firm commits to invest USD1-B in Bataan
September 27, 2018, 7:51 pm
MARIVELES, Bataan -- A new locator has committed to invest USD1 billion at the Freeport Area of Bataan (FAB) here. FAB Chairman Emmanuel Pineda made the announcement during the signing of a memorandum of agreement (MOA) on Wednesday between FAB and The BizLink, Phils., Inc., represented by its… Read More
BSP hikes key rates by 50 bps
September 27, 2018, 7:25 pm
MANILA -- The Bangko Sentral ng Pilipinas (BSP) on Thursday raised key rates by another 50 basis points, for the same reason it made a similar move just six weeks ago, on “persistent signs of sustained and broadening price pressures.” To date, the central bank’s key rates have been hiked by… Read More
PH needs more cell tower firms, telco stakeholders say
September 27, 2018, 6:47 pm
MANILA -- Various stakeholders urged government to encourage the use of common tower facilities, which can be leased by current and future telco firms, through the establishment of more independent tower companies. This, as the Department of Information and Communications Technology (DICT) crafted… Read More
P3/kilo rice price rollback seen
September 27, 2018, 6:28 pm
MANILA -- The National Food Authority (NFA) said Thursday that it expects prices of commercial rice to go down by PHP3 per kilogram within a month as a result of government's measures to augment the staple's supply in the local market. National Food Authority (NFA) Spokesperson Rex Estoperez told… Read More
DTI to ensure stable supply of cement
September 27, 2018, 6:20 pm
MANILA -- Department of Trade and Industry (DTI) Undersecretary for Consumer Protection Group Ruth Castelo said the agency will ensure a stable supply of cement in order to keep up with the local demand and to stabilize prices. She issued the statement after the Department of Environment and… Read More
Lopez welcomes bills institutionalizing gov’t microfinance
September 27, 2018, 6:19 pm
MANILA -- Trade Secretary Ramon Lopez welcomed legislative measures supporting the microfinance program of the Department of Trade and Industry (DTI), Pondo sa Pagbabago at Pag-asenso or P3 Program. Both houses in Congress now have pending bills seeking to institutionalize the P3 Program… Read More
