Business
Globe deploys more LTE sites nationwide
September 4, 2018, 4:38 pm
MANILA -- Telco giant Globe Telecom has deployed more Long-Term Evolution (LTE) sites across the country amid continuing upgrades and expansion of its network to address subscriber demand for data services. Globe said it has installed an additional 1,752 LTE sites carrying the 700 megahertz (MHz)… Read More
Malaysia’s new gov’t to further enhance ties with PH
September 4, 2018, 3:46 pm
MANILA -- Malaysian Prime Minister Mahatir Mohamad’s prospective successor, Anwar bin Ibrahim, said he will pursue the current administration's vision of strengthening bilateral relations with the Philippines and other neighbors. In a press conference here, Anwar said he and Mahatir shares a… Read More
PH T-bill rates up again
September 4, 2018, 12:41 pm
MANILA -- The rates of Philippine Treasury bills (T-bills) went up again Monday but National Treasurer Rosalia de Leon is not worried, saying the hikes are within expectations. The rate of the 91-day facility rose by 0.70 basis points to 3.225 percent from last week’s 3.218 percent. It was… Read More
Bigger hike in pump prices Tuesday
September 3, 2018, 8:37 pm
MANILA -- A much bigger increase in pump prices await motorists effective 6 a.m., September 4, Tuesday. In separate announcements, local oil firms announced the same increase of PHP1.20 per liter for diesel, PHP0.95 per liter for unleaded gasoline, and PHP0.95 per liter for kerosene. These price… Read More
Profit-taking spree downs Peso, local shares
September 3, 2018, 8:08 pm
MANILA -- Lack of direction from bigger markets due in part to the Labor Day holiday in the US, resulted in the almost flat close for the Peso while profit-taking resulted in the retreat of the Philippine Stock Exchange index (PSEi). The local currency ended the day at 53.46 from 53.475 finish… Read More
BDO announces Peso Bond program
September 3, 2018, 7:08 pm
MANILA -- Sy-led BDO Unibank Inc. on Monday announced the establishment of a Peso Bond Program that will have as much as PHP100 billion in funding. In a disclosure with the Philippine Stock Exchange, the bank said the bond program was approved by the bank’s Board of Directors during its meeting… Read More
PH to grow about 6.8% in 2018, Dominguez tells Fitch
September 3, 2018, 7:06 pm
MANILA -- The Philippine economy's growth is expected to remain strong at “close to 6.8 percent” this 2018 and will be driven by the increased spending on infrastructure, the country's finance chief said in a recent Fitch Ratings interview in Manila. “In think we will still be close to 6.8… Read More
Manufacturing PMI up in August
September 3, 2018, 6:01 pm
MANILA -- The manufacturing sector appeared revitalized in August, the Nikkei Philippines Manufacturing Purchasing Managers’ Index (PMI) of IHS Markit reported Monday. In the survey, the country’s manufacturing score rose to 51.9 in August from a 50.9 index in July of this year. The report… Read More
Biz leaders still positive about PH despite uncertainties
September 3, 2018, 6:00 pm
MANILA -- Top business executives have kept their optimism in the Philippine economy and revenue prospects, but their fears on regulatory and political uncertainties are making them hold back on their expansion plans, the result of a business leaders’ survey showed. The Philippine CEO Survey… Read More
Technology can grow PH economy 10% faster: PIDS
September 3, 2018, 5:58 pm
MANILA -- The Philippine economy could grow faster by an estimated 10 percent, provided that emerging technologies, knowledge and the Fourth Industrial Revolution can be utilized to accelerate productivity, according to a research fellow of the Philippine Institute of Development Studies (PIDS).… Read More
PH, Indonesia sign deal on revival of Davao-Manado flights
September 3, 2018, 5:32 pm
MANILA -- The governments of the Philippines and Indonesia have signed an agreement that will pave the way for the resumption of flights from Davao City to Manado in North Sulawesi. The revival of this route will boost trade, tourism and investments in both countries according to the Department of… Read More
DOF sees August inflation hitting 5.9%
September 3, 2018, 5:13 pm
MANILA -- A ranking official of the Department of Finance (DOF) forecasts August 2018 inflation climbing even higher to 5.9 percent but also noted that inflationary pressures appear to be easing. This forecast exceeds the multiyear high of 5.7 percent posted last July. Inflation in September 2017… Read More
PH CEOs see change in business models due to new technologies
September 3, 2018, 3:22 pm
MANILA -- Filipino CEOs or chief executive officers have acknowledged the impact of disruptive innovation in their industries and are ready to roll out strategies to harness such disruptions in the marketplace. The Management Association of the Philippines (MAP) and the PwC Philippines launched… Read More
SSS allocates P10-B as initial fund for pensioners' loan
September 3, 2018, 2:44 pm
MANILA -- The Social Security System (SSS) has allocated PHP10 billion as initial budget for its Pension Loan Program (PLP), which can be availed of by about 1.5 million retirees, initially at 20 branches nationwide starting September 3, 2018. The minimum loan amount is twice the pensioner’s… Read More
Infrastructure boom backs SteelAsia's 1M-ton production
September 2, 2018, 7:00 pm
MANILA -- The booming infrastructure activities in the Philippines supported the increasing production of the SteelAsia Manufacturing Corp., the country’s largest steelmaker. SteelAsia reported that the reinforcing steel bars’ production of its six manufacturing facilities in the country has… Read More
Economist projects August inflation at 5.8%
September 2, 2018, 2:13 pm
MANILA -- A senior economist of IHS Markit expects that inflation in August further climbed from the five-year high rate of 5.7 percent in July. IHS Markit Chief Economist for Asia Pacific Rajiv Biswas, in an e-mail, said price pressures are “finally peaking” last month, with inflation rate… Read More
PH asks South Korea to cut banana tariff
September 2, 2018, 12:04 pm
MANILA -- The Philippines’ trade department is in talks with its counterpart in South Korea to further reduce tariff rate for its banana exports entering the East Asian country. In a text message to reporters over the weekend, Department of Trade and Industry (DTI) Secretary Ramon Lopez said he… Read More
Domestic liquidity growth eases further in July: BSP
August 31, 2018, 9:43 pm
MANILA -- Bangko Sentral ng Pilipinas' (BSP) preliminary data released Friday showed that domestic liquidity (M3) grew by 11.0 percent year-on year to about P11.1 trillion in July 2018, slower than the 11.8-percent (revised) expansion in the previous month. On a month-on-month seasonally-adjusted… Read More
Local stocks up, Peso little changed as trading week ends
August 31, 2018, 8:05 pm
MANILA -- The resiliency of the Philippine peso and the Philippine Stock Exchange index (PSEi) shone through on Friday amidst negative sentiments due to concerns over US-China trade woes and worsening economic issues in Argentina and Turkey. Local equities also suffered from the impact of… Read More
Economists forecast '6%-level' August inflation
August 31, 2018, 8:03 pm
MANILA -- Private-sector economists forecast August's inflation to be in the "six percent-level", slightly higher than what their counterparts in government are predicting. In a report released Friday, ING economist for Asia Prakash Sakpal forecasts “inflation surging past the six percent mark… Read More