Business

PH eyes imposing tariffs on palm oil imports

PH eyes imposing tariffs on palm oil imports

November 22, 2018, 9:03 pm

MANILA -- The Philippine government is considering the imposition of tariffs on imported palm oil, as it takes measures to deal with the flooding of this product in the country, Agriculture Secretary Manny Piñol said Thursday. “For the next 200 days, we could impose tariffs on these items so… Read More

PSEi up, peso sideways ahead of US holiday

PSEi up, peso sideways ahead of US holiday

November 22, 2018, 8:50 pm

MANILA -- The Philippine Stock Exchange index (PSEi) recovered Thursday ahead of the Thanksgiving holiday in the US but the peso ended sideways. PSEi ended the day at 7,268.38 points, up 0.04 percent or 2.93 points, which Regina Capital Managing Director Luis Limlingan attributed to investors’… Read More

Foreign policy refocusing made PH more attractive to creditors

Foreign policy refocusing made PH more attractive to creditors

November 22, 2018, 8:48 pm

MANILA -- Refocusing of the Philippines’ foreign policy has allowed the country to regain the attention of foreign creditors, which, in turn, is advantageous to the government’s massive infrastructure program. In a briefing after the 6th Philippine-Japan High Level Joint Committee on… Read More

BTr awards P15-B worth of 5-yr bonds thru tap facility

BTr awards P15-B worth of 5-yr bonds thru tap facility

November 22, 2018, 8:47 pm

MANILA -- The Bureau of the Treasury (BTr) on Wednesday awarded an additional PHP15 billion worth of the five-year Treasury bond (T-bond) through a tap facility following strong demand during the regular auction. Investors submitted a total of PHP50.976 billion of bids, higher than the PHP48.857… Read More

Malaysian co-working space firm to invest up to USD15-M in PH

Malaysian co-working space firm to invest up to USD15-M in PH

November 22, 2018, 7:17 pm

MANILA -- Kuala Lumpur-based Common Ground is poised to invest between USD10 million to USD15 million to open 10 co-working space hubs in Metro Manila. This was disclosed by Common Ground Co-Founder and Chief Executive Officer Juhn Teo during the launching of its first co-working facility in the… Read More

PH gets more ODA amid gov’t’s refocused foreign policy

PH gets more ODA amid gov’t’s refocused foreign policy

November 22, 2018, 7:11 pm

MANILA -- Several countries in the region are providing the Philippines with official development assistance (ODA) funding for its priority projects, an indication the country is reaping the advantages of the Duterte administration’s refocusing on entire foreign policy, according to a top… Read More

SEIPI hopeful gov't will hear its side on proposed CIT reform

SEIPI hopeful gov't will hear its side on proposed CIT reform

November 22, 2018, 7:10 pm

MANILA -- Officials of the Semiconductor and Electronics Industries in the Philippines Foundation, Inc. (SEIPI) are hopeful that government will consider their suggestions on the proposed corporate income tax (CIT) reform, noting that while the group supports the measure, there are certain… Read More

PH, Japan exchange notes on North-South Commuter Railway

PH, Japan exchange notes on North-South Commuter Railway

November 22, 2018, 4:04 pm

MANILA -- The governments of the Philippines and Japan have signed an exchange of notes over the North-South Commuter Railway (NSCR) Extension Project on Wednesday. The exchange of notes was signed by Department of Foreign Affairs Secretary Teodoro Locsin Jr. and Japanese Ambassador Koji Haneda… Read More

DOE opens application for exploration contracts

DOE opens application for exploration contracts

November 22, 2018, 3:47 pm

MANILA -- The Department of Energy (DOE) will be accepting the applications of parties interested in exploring for untapped energy resources in the country, within the next six months. The DOE formally launched the Philippine Conventional Energy Contracting Program (PCECP) in Taguig City on… Read More

Speedy nod to Japan-funded infra projects laudable: Dominguez

Speedy nod to Japan-funded infra projects laudable: Dominguez

November 21, 2018, 10:12 pm

MANILA -- Finance Secretary Carlos Dominguez III on Wednesday lauded the speedy approval of infrastructure projects to be funded by the Japanese government as well as the processing time for related loans, saying this was born out of greater cooperation between the two countries. In his opening… Read More

UN, PH partner on sustainable development priorities

UN, PH partner on sustainable development priorities

November 21, 2018, 9:34 pm

MANILA -- The United Nations (UN) expects to mobilize USD506.63 million in funding to help the Philippines implement its priority programs on sustainable development and inclusive growth over the next five years. The Philippine government, represented by National Economic and Development Authority… Read More

PH T-bond rate down due to strong demand

PH T-bond rate down due to strong demand

November 21, 2018, 9:13 pm

MANILA -- The rate of the Philippines’ five-year Treasury bond (T-bond) fell by 34 basis points Wednesday, attracting a large amount of bids, which in-turn prompted the auction committee to make a full award. Average rate of the debt paper declined to 7.003 percent from 7.342 percent it fetched… Read More

Torre Lorenzo, Dusit Thani sign deal for hotel business in Lipa

Torre Lorenzo, Dusit Thani sign deal for hotel business in Lipa

November 21, 2018, 8:37 pm

MANILA -- Torre Lorenzo Development Corp. (TLDC) on Wednesday signed an agreement with Dusit International and Dusit Thani Philippines, Inc. for the development of the Dusit Princess Hotel in Lipa, Batangas. Dusit Princess Lipa is part of the three-tower Tierra Lorenzo project of TLDC, wherein the… Read More

TDF rates, bid coverage ratio up

TDF rates, bid coverage ratio up

November 21, 2018, 8:34 pm

MANILA -- The rates of Bangko Sentral ng Pilipinas’ (BSP) Term Deposit Facility (TDF) rose across-the-board Wednesday in line with the rise of central bank’s key policy rates. Rate of the seven-day facility improved to 4.9738 percent from 4.8291 percent during the auction last November 14.… Read More

IPC launches content service network in PH

IPC launches content service network in PH

November 21, 2018, 7:24 pm

MANILA -- Cloud services provider, IP Converge Data Services Inc. (IPC), has partnered with Singapore-based digital media solutions provider Conversant Solutions to offer the country’s first local content service delivery network (CDN) that will reportedly enhance the delivery of Internet-based… Read More

PH exporters urged to use free trade deal with EFTA

PH exporters urged to use free trade deal with EFTA

November 21, 2018, 6:53 pm

MANILA -- The Department of Trade and Industry (DTI), together with the embassies of Norway and Switzerland, is urging Philippine-based exporters to take advantage of the free trade agreement (FTA) between the Philippines and European Free Trade Association (EFTA). DTI Undersecretary Ceferino… Read More

Peso remains strong; local stocks slide

Peso remains strong; local stocks slide

November 21, 2018, 6:27 pm

MANILA -- The Philippine peso remained firm against the US dollar Wednesday but the Philippine Stock Exchange index (PSEi) ended its five-day winning streak in sympathy reaction to US markets. The local currency managed to finish the day at 52.35 from 52.39 Tuesday. A trader said the peso was able… Read More

PH on track to hit 2018 expenditure program

PH on track to hit 2018 expenditure program

November 21, 2018, 6:26 pm

MANILA -- The Philippine government exceeded by 2.6 percent its spending program target for the first three quarters of 2018, which made Budget and Management Secretary Benjamin Diokno more optimistic about hitting this year’s PHP3.364-trillion goal. Data released by the Department of Budget and… Read More

5 Asian firms seen to bag rice supply contracts

5 Asian firms seen to bag rice supply contracts

November 21, 2018, 5:14 pm

MANILA -- The National Food Authority (NFA) disclosed that it is poised to award the contracts for the import of 500,000 metric tons (MT) of rice to five Asian suppliers, the first half of which is expected to arrive not later than Dec. 31 this year. The five traders, with bid offers lower than… Read More

BPI BanKo partners with BSP for exchange of unfit currencies

BPI BanKo partners with BSP for exchange of unfit currencies

November 21, 2018, 4:13 pm

MANILA -- Ten branches of BPI Direct BanKo (BanKo) nationwide will start accepting unfit currencies starting December 3, 2018 as part of the bank's partnership with the Bangko Sentral ng Pilipinas (BSP), to jointly promote coins recirculation and the Clean Notes program. These are its branches in… Read More