PH Q3 GDP growth seen at 6.5%

MANILA -- The Philippines’ gross domestic product (GDP) is expected to grow 6.5 percent in the third quarter of 2017, IHS Markit Chief Economist for Asia Pacific Rajiv Biswas said Monday.The GDP outlook for Q3 2017 is the same with the actual growth rate in second quarter of the... Read More

Gasoline, diesel, kerosene prices up

MANILA-- Due to movements in the international petroleum market, oil companies on Monday announced a round of fuel pump price increases effective Tuesday, Nov. 14.Shell Pilipinas, Petron, SEAOIL, PTT Philippines, and Flying V announced that gasoline prices will go up by as much as 95-centavos per... Read More

Intra-ASEAN investments remain high: report

MANILA -- Association of Southeast Asian Nations (ASEAN) companies and dialogue partners European Union (EU) and India continue pouring investments in the region, pushing intra-regional investment to a record level.The ASEAN Investment Report 2017 attributed the rise in intraregional investment to... Read More

ASEAN needs USD60-B yearly for infrastructure: ADB

MANILA – The Association of Southeast Asian Nations (ASEAN) needs to undertake efforts to establish macroeconomic and political stability to meet an estimated USD60 billion a year to address the region’s infrastructure needs, a senior official of the Asian Development Bank (ADB) said... Read More

Trump welcomes possible PH-US free trade deal -- DTI chief

MANILA -- US President Donald Trump has welcomed the suggestion of the Philippine government to have a free trade agreement (FTA) between the Philippines and the US, Department of Trade and Industry (DTI) Secretary Ramon Lopez told reporters.In a text message, Lopez said the Philippines was able to... Read More

BSP to raise rates on rising inflation pressures: studies

MANILA -- Sustained increase of rate of price increases will likely result to upward adjustments in the Bangko Sentral ng Pilipinas’ (BSP) key rates, studies said.Last October, inflation rose to 3.5 percent from the previous month’s 3.4 percent, bringing the 10-month average to 3.2... Read More

AUB reports 19.3% consolidated net income in end-Q3 '17

MANILA -- Publicly listed Asia United Bank (AUB) reported a 19.3 percent growth in unaudited consolidated net income as of end-September 2017 to PHP2.2 billion.In a disclosure with the Philippine Stock Exchange (PSE) Monday, the bank said its latest net earnings is better the PHP1.8 billion it... Read More

More PH MSMEs to benefit from ASEAN mentorship program

MANILA -- Startup and expanding micro, small and medium enterprises (MSMEs) are expected to get a boost from new mentorship program of the Philippines and other members of the Association of Southeast Asian Nations (ASEAN) meant to help ensure their businesses become successful.President Rodrigo... Read More

Concepcion urges big bizmen to help peers

MANILA -- The chair of the ASEAN Business Advisory Council (ABAC) urged businessmen to help other players, who are in need, in line with the Council’s flagship program called ASEAN Mentorship for Entrepreneurs Network (AMEN).In his opening message for the three-day Summit that started Sunday,... Read More

ASEAN econ ministers seek to complete RCEP negotiations by yearend

MANILA -- Economic ministers of the Association of Southeast Asian Nations (ASEAN) member states have committed to complete the negotiations on the Regional Comprehensive Economic Partnership (RCEP) by the end of the year.Department of Trade and Industry (DTI) Secretary Ramon Lopez, on Sunday, said... Read More

Private sector plays key role in ASEAN econ dev't: Myanmar leader

MANILA -- Myanmar leader Aung San Suu Kyi on Sunday underscored the key role of the private sector in the economic development and regional integration of Association of Southeast Asian Nations (ASEAN) members.Suu Kyi, State Counsellor and Union Minister for Foreign Affairs of the Republic of the... Read More

ABAC chief cites importance of connectivity for micro, small biz

MANILA -- Ensuring connectivity in an economy is a sure way of addressing poverty and ending security issues, among others, that result from it.This was pointed out Sunday by Presidential Adviser on Entrepreneurship Joey Concepcion, as he noted the importance of putting necessary infrastructure to... Read More

RCBC Q3 net income up 19%

MANILA -- Strong growth in loans and deposits boosted Rizal Commercial Banking Corporation’s (RCBC) net income by 19 percent year-on-year in the third quarter of 2017 to PhP1.1 billion.In a disclosure to the Philippine Stock Exchange (PSE) Friday, the bank said its core business was lifted by... Read More

Sarangani power biz propels Alsons Q3 income

MANILA-- Alsons Consolidated Resources, Inc.’s (ACR) reported a 15.2-percent rise in net earnings for the first nine months of 2017 to P274.48 million from P238.09 million in the same period in 2016.ACR indicated that the increase was propelled by the robust revenue growth in the operations of... Read More

Sept. manufacturing output down; NEDA sees rebound in Q4

MANILA -- The National Economic and Development Authority (NEDA) is optimistic the manufacturing sector would rebound in the last quarter of 2017, even after its output declined on lower production of petroleum and export-oriented products in the third quarter.Latest Monthly Integrated Survey of... Read More

PH exports to ASEAN recover in Jan-Sept '17

CLARK, Pampanga -- Philippine merchandise exports to nine other member states of the Association of Southeast Asian Nations (ASEAN) had a turnaround this year after a drop in export revenues last year.Latest data from the Philippine Statistics Authority (PSA) showed that the country’s export... Read More

ING keeps '18 inflation forecast for PHL at 3.7%

MANILA -- An economist at ING Bank Manila kept his 3.7 percent inflation forecast for the Philippines for 2018 even with the upward revision of the Bangko Sentral ng Pilipinas (BSP) average inflation forecast for next year.BSP’s policy-making Monetary Board (MB) increased its inflation... Read More

PH urged to boost competitiveness to benefit from AEC

CLARK, Pampanga --Philippine industries are urged to boost competitiveness to maximize to benefit of the ASEAN Economic Community (AEC).In a statement Friday of the Philippine Exporters Confederation (Philexport), Foreign Buyers Association of the Philippines (FOBAP) President Robert Young the... Read More

Peso up vs. USD, PSEi down anew 

MANILA -- The Philippine peso stood strong against the US dollar Friday, but the Philippine Stock Exchange Index (PSEi) dipped, a day after it recovered from days of slides.The local currency unit finished the day at 51.24 from its 51.27 Thursday, which a trader traced partly to the lower... Read More

Chelsea Logistics acquires cargo, shipping firms 

MANILA -- Publicly-listed Chelsea Logistics Holdings Corp. (CLC) has acquired cargo and shipping firms to boost its businesses.CLC has told the local bourse it bought on Wednesday 100 percent of the issued and outstanding shares of Worklink Services, Inc. (WSI), a freight forwarder established to... Read More