Business
3-yr T-bond rate up on rate hike expectations, inflation peak
August 29, 2018, 6:23 pm
MANILA -- The rate of the Philippines’ re-issued three-year Treasury bond (T-bond) rose Wednesday as demand remains high due in part to expectations of further rise in interest rates in general. Average rate of the debt paper, which has a remaining life of two years and five months, increased by… Read More
Foreign bizmen maintain investment appetite in PH: Lopez
August 29, 2018, 4:11 pm
MANILA -- Foreign businessmen have maintained their investment appetite in the Philippines, unchanged since the Duterte administration took office two years ago, the country’s top trade official said. In an interview with the Philippine News Agency, Trade and Industry Secretary Ramon Lopez said… Read More
Gov't considering changes in 2019 budget proposal
August 29, 2018, 1:36 pm
MANILA -- The Duterte administration is sticking with its proposed cash-based budgeting system for 2019 but Budget and Management Secretary Benjamin Diokno said they are planning to extend the payment period for projects. The proposed PHP3.757-trillion national budget for next year has a validity… Read More
Peso, local stocks rise on US-Mexico trade deal
August 28, 2018, 7:58 pm
MANILA -- The Philippine peso and the Philippine Stock Exchange index (PSEi) ended the shortened week’s first trading day on positive territory partly on news about the US-Mexico trade deal. The local unit ended Tuesday's trading at 53.325 from 53.465 Friday last week on lesser concerns on US’… Read More
MPTC okay with staggered toll fee hike
August 28, 2018, 7:34 pm
MANILA -- Metro Pacific Tollways Corp. (MPTC) President and Chief Executive Officer Rodrigo Franco said the company is agreeable to a staggered implementation of toll fee increases once the upward rate adjustments are approved by government. This is in response to the request made by Department of… Read More
High liquidity, rate hike expectations lift T-bill rates
August 28, 2018, 7:32 pm
MANILA -- The upward direction of Philippine Treasury bills (T-bills) were sustained on Tuesday, which National Treasurer Rosalia de Leon traced to high liquidity situation and expectations for further increase in interest rates. Average rate of the 91-day paper went up to 3.218 percent from last… Read More
Peso weakness' impact on infra projects 'insignificant'
August 28, 2018, 7:30 pm
MANILA -- The depreciation of the Philippine peso will not delay the roll-out of government's infrastructure program, Public Works and Highways Secretary Mark Villar said Tuesday. During the 2nd Economic Journalists Association of the Philippines (EJAP) Economic Forum, Villar said the weaker… Read More
Grab urges LTFRB to increase TNVS supply base to 80K
August 28, 2018, 6:33 pm
MANILA -- Ridesharing firm Grab Philippines is urging the Land Transportation Franchising and Regulatory Board (LTFRB) to increase the common supply base for transportation network vehicle services (TNVS) units to around 80,000 to meet the riding public's growing demand. This, as Grab welcomes the… Read More
PH to be active in Panda bond, Samurai bond markets
August 28, 2018, 6:32 pm
MANILA -- Panda bond and Samurai bond issuances will be a normal funding source for the Philippines under the Duterte administration, Finance Secretary Carlos Dominguez III announced on Tuesday. “As I mentioned to the (Bureau of the) Treasury, yes, I told them that I don’t want to be absent… Read More
Dominguez not amenable to budget deficit beyond 3% of GDP
August 28, 2018, 5:51 pm
MANILA -- Finance Secretary Carlos Dominguez on Tuesday said he is willing to accept changes in the proposed tax reform measures but not the change in the deficit ceiling, which was placed at three percent of the country's gross domestic product (GDP). During the 2nd Economic Journalists… Read More
DTI releases livelihood fund for Boracay MSMEs
August 28, 2018, 1:34 pm
MANILA -- The Small Business (SB) Corp., the financing arm of the Department of Trade and Industry (DTI), has released some PHP210,000 worth of loans to micro entrepreneurs on Boracay Island as of August 24. The loans granted to small-scale businesses were under the Pondo sa Pagbabago at… Read More
Dominguez says hefty investments fueling PH's rapid growth
August 28, 2018, 1:33 pm
MANILA -- Finance Secretary Carlos Dominguez III said in a statement on Tuesday that the Philippines continues to be among the best performing economies in Asia, on the strength of higher foreign direct investment (FDI) inflows and rising capital formation. Dominguez said a significant increase in… Read More
Pump prices up again Tuesday
August 27, 2018, 6:48 pm
MANILA -- Filipino motorists will have to dig a little deeper into their pockets as local oil companies announce another hike in pump prices effective Tuesday. In separate announcements, spokesmen for the oil firms said the upward price adjustment will take effect at 6 a.m. on August 28. According… Read More
DOF submits remaining tax reform packages to Congress
August 27, 2018, 6:27 pm
MANILA -- The Department of Finance (DOF) has made good on its commitment to submit to the Congress the remaining packages of the Duterte administration’s comprehensive tax reform program (CTRP), whose overriding goal is to make Philippine taxation fully transparent, more efficient and a lot… Read More
DICT to seek UNDP aid to rollout free Wi-Fi nationwide
August 27, 2018, 5:03 pm
MANILA -- The Department of Information and Communications Technology (DICT) will seek the assistance of the United Nations Development Program (UNDP) to deliver free Internet service throughout the country through its free Wi-Fi program. This developed as the DICT stressed that government should… Read More
Peso ends week sideways, local stocks down on trade jitters
August 24, 2018, 7:04 pm
MANILA -- Investors wait-and-see stance while awaiting Federal Reserve Chairman Jerome Powell's speech at the annual Jackson Hole symposium, resulted in the sideways close of the Philippine peso Friday but the main equities gauge fell on trade concerns. The local unit ended the week at 53.465 from… Read More
PH exports to recover in 2nd semester: Philexport
August 24, 2018, 6:34 pm
MANILA -- Projections on the country's exports revenues remain bright as robust demand is expected in the second half of 2018, according to the Philippine Exporters Confederation, Inc. (Philexport), the umbrella organization of local exporters. In a statement Friday, Philexport President Sergio… Read More
Union Bank eyes LTNCD issuance to fund expansion
August 24, 2018, 6:07 pm
MANILA -- An official of Aboitiz-led Union Bank of the Philippines (Union Bank) announced that an issuance of Long Term Negotiable Certificate of Deposits (LTNCD) is in the offing as the bank seeks to increase capital to support its expansion. Union Bank President and CEO Edwin Bautista said they… Read More
DTI to ask EU to calendar continuation of free trade talks
August 24, 2018, 6:04 pm
MANILA -- The Philippine government is set to formally ask the European Union (EU) to schedule the third round of negotiations for the Philippine-EU Free Trade Agreement (FTA), the country’s top trade official revealed. Trade Secretary Ramon Lopez told the Philippine News Agency (PNA) that his… Read More
PH, China to speed up implementation of infra projects
August 24, 2018, 6:00 pm
BEIJING -- Manila and Beijing have affirmed their commitment to speed up the preparation and processes needed to ensure the timely implementation of the Duterte administration’s flagship infrastructure projects with financial support from China, the Department of Finance (DOF) announced in a… Read More