Business

Local markets up on slower US GDP report

Local markets up on slower US GDP report

October 29, 2018, 7:28 pm

MANILA – The Philippine financial market began the trading week on a positive note, an apparent windfall from the slow down of the US economy in the third quarter. The Philippine Stock Exchange index (PSEi) gained 0.63 percent, or 44.70 points, to 7,109.03 points, which Regina Capital Managing… Read More

Legazpi, first Bicol LGU to adopt e-Payment System

Legazpi, first Bicol LGU to adopt e-Payment System

October 29, 2018, 5:46 pm

LEGAZPI CITY -- The city government has started using an online payment mode using payers' credit cards in a bid to lessen the inconvenience of residents transacting with city hall. Mayor Noel Rosal, in an interview during his Monday press conference, said the online payment project is part of the… Read More

PH T-bill rates stabilizing: De Leon

PH T-bill rates stabilizing: De Leon

October 29, 2018, 5:44 pm

MANILA -- The rates of Philippine Treasury bills (T-bills) registered mix results Monday, which National Treasurer Rosalia de Leon said is part of a normalization phase brought about by expectations that inflation for the year has peaked. The bellwether 91-day paper’s average rate rose to 4.979… Read More

Construction sector opposes safeguard duties on cement imports

Construction sector opposes safeguard duties on cement imports

October 29, 2018, 5:01 pm

MANILA -- The Philippine Constructors Association (PCA) has rejected any move to impose safeguard measures on imported cement as this will only increase construction costs. In a position paper, the PCA said “the imposition of safeguard measures will surely tilt the balance and adversely affect… Read More

Oil firms lower pump prices ahead of holidays

Oil firms lower pump prices ahead of holidays

October 28, 2018, 4:59 pm

MANILA — Motorists can expect lower prices of petroleum products ahead of the Nov.1 and Nov. 2 holidays, as oil firms will implement a big-time rollback on pump prices on Monday morning. In separate text messages, oil companies will cut prices of gasoline by PHP1.50 per liter, PHP0.60 per liter… Read More

GDP to grow 6.3% in 2018, 7% in 2019: BPI

GDP to grow 6.3% in 2018, 7% in 2019: BPI

October 26, 2018, 7:10 pm

MANILA -- The Philippine economy is expected to grow by 6.3 percent this year and accelerate close to 7 percent in 2019, underpinned by the government’s infrastructure push as well as election-related spending. Emilio Neri Jr., Vice President and lead economist at the Bank of the Philippine… Read More

Local markets end trading week higher

Local markets end trading week higher

October 26, 2018, 7:09 pm

MANILA -- Local markets ended the trading week on a positive note after local shares were energized by Wallstreet's gains and the peso got an upward boost due to profit-taking. After a three-day slide, the Philippine Stock Exchange index (PSEi) recovered and rose 1.40 percent, or 97.49 points, to… Read More

PHilMech to test rolling corn mill technology

PHilMech to test rolling corn mill technology

October 26, 2018, 6:46 pm

MANILA -- The Department of Agriculture’s Philippine Center for Postharvest Development and Mechanization (PHilMech) is improving its compact corn mill to help more farming villages boost their productivity, in an effort to increase their income and enhance food security. "We're piloting in… Read More

Grab to appeal fines imposed for Uber merger

Grab to appeal fines imposed for Uber merger

October 26, 2018, 6:11 pm

MANILA -- Grab Philippines will appeal the decision of the Philippine Competition Commission (PCC) which imposed a PHP12-million fine for allegedly violating the interim measures order imposed during the review of its acquisition of Uber’s operations, its lawyer said Friday. “We respectfully… Read More

BSP open to more currency pair trading

BSP open to more currency pair trading

October 26, 2018, 4:40 pm

MANILA -- A memorandum of understanding (MOU) for the ratification of renminbi trading in the Philippines is set to be signed next week and similar pacts for trading other currency pairs are in the works, a ranking Bangko Sentral ng Pilipinas (BSP) official disclosed Friday. This is part of the… Read More

EU urges PH to tap available funding for innovative energy projects

EU urges PH to tap available funding for innovative energy projects

October 26, 2018, 4:29 pm

MANILA -- The European Union's (EU) delegation to the Philippines urged local stakeholders to tap its available funding for sustainable and reliable energy projects. EU Project Manager for Cooperation Section Willy Hick said Thursday during the Energy Smart 2018 of the European Chamber of Commerce… Read More

Ilonggo MSMEs avail of packaging, labeling assistance from DOST

Ilonggo MSMEs avail of packaging, labeling assistance from DOST

October 26, 2018, 3:57 pm

ILOILO CITY – A total of 14 micro, small and medium enterprises (MSMEs) from Iloilo province have received packaging and labeling assistance from the Department of Science and Technology (DOST). The product labels were turned over to recipient-beneficiaries by Science and Technology Secretary… Read More

Sustainable, cleaner source of power needed in ecozones

Sustainable, cleaner source of power needed in ecozones

October 26, 2018, 3:45 pm

MANILA -- The demand for cleaner and sustainable power inside the country's economic zones will inevitably rise as more locators come in, the management of the Philippine Economic Zone Authority (PEZA) said Thursday. PEZA Project Development Officer Ludwig Daza said that in seven ecozones alone,… Read More

Grab expands operations to Tacloban City

Grab expands operations to Tacloban City

October 25, 2018, 9:21 pm

MANILA -- Grab Philippines announced Thursday it has expanded its operations to Tacloban City to provide more services for both locals and tourists in that city. “Our commitment to provide better transportation options to more Filipinos remains firm. As we become the everyday app, we continue… Read More

Private sector urged to invest in Boracay projects

Private sector urged to invest in Boracay projects

October 25, 2018, 7:44 pm

MANILA -- The government urged private enterprises to invest in projects meant to support sustainable tourism in Boracay which is scheduled to reopen Friday. “So we are reopening, there are interventions done by the government but those are not enough. We still need to implement projects and… Read More

Global risk-off sentiment sinks PSEi, peso holds ground

Global risk-off sentiment sinks PSEi, peso holds ground

October 25, 2018, 7:09 pm

MANILA -- Trade war concerns, along with the slide of Wall Street, resulted in the negative close of the Philippine Stock Exchange index (PSEi) but the peso managed to stay afloat during Thursday's trading. PSEi declined for the third consecutive day after it gave up 2.28 percent, or 162.58… Read More

Monetary Board seen to keep current BSP rates

Monetary Board seen to keep current BSP rates

October 25, 2018, 6:55 pm

MANILA -- An economist of ING Bank Manila on Thursday discounted additional adjustments in the Bangko Sentral ng Pilipinas' (BSP) key policy rates next month, noting that domestic inflation may have already peaked last September. Citing Philippine Statistics Authority (PSA) data, Nicholas Mapa… Read More

More oil exploration activities in PH pushed

More oil exploration activities in PH pushed

October 25, 2018, 6:51 pm

MANILA -- Top management of Shell Philippines Exploration B.V. (SPEX), operator and developer of the Malampaya deep water gas-to-power project, said more effort should be put in oil exploration activities to ensure steady energy supply for the country in the future. During the Energy Smart… Read More

PCSO posts P48-B revenues in 3rd quarter of 2018

PCSO posts P48-B revenues in 3rd quarter of 2018

October 25, 2018, 6:39 pm

LEGAZPI CITY-- The Philippine Charity Sweepstakes Office (PCSO) reported a total revenue of PHP48 billion from January to September this year, up PHP9.7 billion, or 25 percent from PHP38.2 billion in the same period of 2017. The amount represents the combined earnings of PCSO from all its… Read More

Banks to ratify renminbi trading in PH

Banks to ratify renminbi trading in PH

October 25, 2018, 6:08 pm

MANILA -- Representatives of the Bangko Sentral ng Pilipinas (BSP) and several banks are set to sign a Memorandum of Understanding (MOU) for the ratification of renminbi (RMB) trading in the Philippines. This is intended to ensure a fair, transparent, and resilient RMB market following the… Read More