Business
Inflation, typhoon devastation only temporary setbacks: Pernia
September 18, 2018, 5:02 pm
MANILA -- The inflation surge coupled with typhoon devastation are only temporary setbacks for the Philippine economy and its poverty reduction program, Socioeconomic Planning Secretary Ernesto Pernia said Tuesday. In a press conference during the Philippine Economic Briefing, Pernia said the… Read More
Ease of doing business consultations done in 2 weeks: DTI
September 18, 2018, 5:00 pm
TACLOBAN CITY – The Department of Trade and Industry (DTI) will complete the public consultations needed for drafting the implementing rules and regulations (IRR) of Republic Act No. 11032 or the Ease of Doing Business and Efficient Government Service Delivery Act of 2018 within two weeks. After… Read More
Globe, Smart services restored in most Ompong-hit areas
September 18, 2018, 2:56 pm
MANILA -- Globe Telecom reported that its network repair crews have managed to restore services to the municipality of Baggao in Cagayan province, a town hard hit by Typhoon Ompong. “This means all Globe cell sites in all localities in Cagayan, Apayao, and Ilocos Norte are now fully restored,"… Read More
Another hike in pump prices slated Sept. 18
September 17, 2018, 9:18 pm
MANILA -- Local oil companies are again set to implement increases in the prices of their petroleum products effective Tuesday, Sept. 18, as the uptick in world crude prices continue. In separate announcements, spokesmen for these firms announced price increases of PHP0.50 per liter of unleaded… Read More
BSP enhances guidelines on currency rate risk protection program
September 17, 2018, 9:17 pm
MANILA -- The Monetary Board (MB) approved the enhanced guidelines on the Currency Rate Risk Protection Program (CRPP) aimed at easing the demand pressures in the foreign exchange spot market, the Bangko Sentral ng Pilipinas (BSP) disclosed in a statement over the weekend. The CRPP is a hedging… Read More
Local markets flat on investors' risk-off sentiment
September 17, 2018, 8:41 pm
MANILA -- The week's trading began with indices little changed as investors continue to weigh developments overseas. PSEi gained 0.006 percent, or 0.41 points, to 7,413.56 points, which Landbank market economist Guian Angelo S. Dumalagan said is similar to the path of US stocks Friday last week.… Read More
PH, Fujian bizmen ink 15 deals
September 17, 2018, 8:40 pm
MANILA -- Fifteen cooperation agreements and joint venture deals were signed with companies based in Fujian province, further enhancing trade and investment relations in sectors of agriculture, tourism, and real estate between the Philippines and China. A delegation from the Fujian government, led… Read More
Espenilla discounts off-cycle action ahead of policy meeting
September 17, 2018, 7:32 pm
MANILA -- Bangko Sentral ng Pilipinas (BSP) Governor Nestor A. Espenilla Jr. discounted any off-cycle actions ahead of the Monetary Board's (MB) meeting on September 27 despite the impact of inflation which may have been exacerbated by the wrath of Typhoon Ompong (Mangkhut). “We will follow the… Read More
BTr rejects bids for 91-day T-bill
September 17, 2018, 7:05 pm
MANILA -- Investors’ continued demand for high yields constrained the Bureau of the Treasury’s (BTr) auction committee to reject bids for the bellwether 91-day Treasury bill (T-bill) Monday. Had the auction committee made a full award for this tenor, rate of the debt paper would have risen to… Read More
Marawi Bond issuance possible by October, November
September 17, 2018, 6:46 pm
MANILA -- Issuance of the planned Marawi Bond may happen either in October or November this year once funding requirements have been finalized, National Treasurer Rosalia De Leon said. In an interview at the sidelines of the budget hearing in the House of Representatives Monday, De Leon said date… Read More
NGO rolls out P3-patterned micro-finance program
September 17, 2018, 5:06 pm
MANILA -- The Center for Agriculture and Rural Development (CARD), Inc., a microfinance non-governmental organization, has surpassed its initial commitment in rolling out financial services patterned after government’s Pondo sa Pagbabago at Pag-asenso or P3 Program. This, after the Department of… Read More
DTI to ensure flow of goods during ‘Ompong’
September 15, 2018, 4:38 pm
MANILA -- Department of Trade and Industry (DTI) Secretary Ramon Lopez said on Saturday that the agency has set up a command center that will ensure the continuous flow of basic necessities and prime commodities, particularly in areas hit by Typhoon “Ompong.” “Command center is linked with… Read More
SM opens Bicol's biggest shopping mall in Legazpi City
September 15, 2018, 2:29 pm
LEGAZPI CITY – SM City opened its biggest shopping mall in this premier city of Bicol region Friday. The opening of SM Super Mall, which is located on the 4.5-hectare land area adjacent to the Ibalong Centrum for Recreation and the City Grand Terminal at the heart of the city’s central… Read More
Dominguez discounts off-cycle move
September 14, 2018, 9:44 pm
MANILA – Finance Secretary Carlos Dominguez III is optimistic the country's high inflation rate today will not affect the national budget and does not need an off-cycle measure from Bangko Sentral ng Pilipinas (BSP). In an interview after his meeting with a lawmaker Friday, Dominguez said one… Read More
NAIA Consortium gains original proponent status on NAIA rehab
September 14, 2018, 9:25 pm
MANILA – The Department of Transportation (DOTr) and the Manila International Airport Authority (MIAA) have granted original proponent status to the NAIA Consortium on the proposed PHP102-billion rehabilitation of the Ninoy Aquino International Airport (NAIA) for 15 years. The initiative aims to… Read More
Higher importation sustains PH BOP deficit in Q2
September 14, 2018, 8:53 pm
MANILA -- Higher importation as a result of increased domestic demand continues to cause deficits in the Philippines’ current account, which in the second quarter of 2018 stood at USD2.9 billion. In a briefing Friday, Bangko Sentral ng Pilipinas (BSP) Department of Economic Statistic (DES) head… Read More
BPO sector critical in stronger middle class
September 14, 2018, 7:59 pm
MANILA -- The Information Technology and Business Process Association of the Philippines (IBPAP) has reiterated the industry's importance in economic advancement amid moves to slash government incentives. At the inauguration of another business process outsourcing (BPO) firm Thursday, IBPAP… Read More
Peso recovers but local shares down on profit-taking
September 14, 2018, 7:30 pm
MANILA -- The week's trading came to a close, seeing a recovery in the Philippine peso, but profit-taking got the better of the Philippine Stock Exchange index (PSEi) as investors cashed in on Thursday’s gains. The local currency ended the week at 53.97 from 54.07 a day ago, which Landbank… Read More
9-point plan seen to decelerate inflation
September 14, 2018, 7:13 pm
MANILA -- The administration's economic managers have proposed nine measures to immediately address food supply issues to bring inflation down by an estimated 2.4 percent. Budget Secretary Benjamin Diokno, in an interview after economic officials' meeting with Sen. Loren Legarda on Friday, said… Read More
BOI links big firms, MSMEs for inclusive business
September 14, 2018, 5:51 pm
MANILA -- The Board of Investments (BOI) said it will continue to promote the inclusive business model by encouraging stronger partnerships between big companies and smaller, community-based businesses. The BOI revealed that it has facilitated matching sessions between 75 micro, small, and medium… Read More
