Business
Domestic carmakers sales down 16% in 2018
January 14, 2019, 7:03 pm
MANILA -- The overall sales of local carmakers dropped by 16 percent in 2018, greater than its projected 14-percent decline for the year, the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) reported. In its sales report released Monday, CAMPI said the total sales of its… Read More
DICT to probe passport data breach
January 14, 2019, 6:58 pm
MANILA -- The Department of Information and Communications Technology (DICT) announced that its CyberSecurity Bureau will conduct its own investigation of the passport data breach incident which occurred in the Department of Foreign Affairs (DFA). It is the department's mandate to provide… Read More
Big-time oil price hike set Tuesday
January 14, 2019, 5:16 pm
MANILA — The days of declining pump prices are fading in the rearview mirror, as local oil firms are set to implement a significant oil price hike on Tuesday, which follows on the heels of a minor uptick in prices last week. In separate messages, oil companies announced a PHP2.30-per-liter… Read More
PH T-bill rates decline, demand still up
January 14, 2019, 5:02 pm
MANILA -- The Bureau of the Treasury’s (BTr) auction committee on Monday only partially awarded the benchmark 91-day Treasury bill (T-bill) but fully awarded the longer tenor papers after taking into account the strong demand and high liquidity. Also, rates of all tenors declined, which National… Read More
Gov't workers pay hike depends on passage of 2019 budget
January 14, 2019, 2:42 pm
MANILA -- Around PHP45 to PHP50 billion is needed for the fourth tranche of government workers’ pay hike, which Department of Budget and Management (DBM) officials said can only be paid once Congress approves the proposed 2019 national budget. Citing provisions of Executive Order (EO) 201,… Read More
PEZA ends 2018 with P140-B investments
January 13, 2019, 12:31 pm
MANILA -- The Philippine Economic Zone Authority (PEZA) has approved a total of PHP140.24 billion worth of investments in 2018, the agency reported. According to PEZA, investment pledges last year dropped 40.97 percent from PHP237.57 billion. Value of investment commitments decline after the… Read More
Peso higher, PSEi slides as trading week ends
January 11, 2019, 8:28 pm
MANILA -- The Philippine peso ended Friday higher despite the drop in the Philippine Stock Exchange index (PSEi) due to jitters created by Korean shipbuilder Hanjin Heavy Industries and Construction Philippines declaration of bankruptcy. The local currency ended the week at 52.14 from 52.225… Read More
BOI targets 10% hike in investment approvals in 2019
January 11, 2019, 8:27 pm
MANILA -- The Board of Investments (BOI) is targeting to increase investment approvals this year in hopes of breaching the PHP1-trillion mark. In a briefing Friday, Trade Secretary and BOI Chairman Ramon Lopez said the agency is eyeing a 10-percent growth in investment approvals this year from… Read More
AMLC: Deguito conviction discourages similar crimes
January 11, 2019, 8:03 pm
MANILA -- The speedy resolution of a money laundering complaint against a former bank official in relation to stolen Bangladesh Bank (BB) funds, USD81 million of which was transferred to a Philippine bank in 2016, will hopefully discourage the commission of similar crimes in the future. In a reply… Read More
AirAsia announces Kalibo-China routes in Q1 2019
January 11, 2019, 7:40 pm
MANILA -- AirAsia Philippines announced on Friday that it will begin flights between Kalibo, Aklan and three Chinese destinations -- Macau, Kunming, and Chengdu -- in the first quarter of the year. The airline's chief executive officer, Dexter Comendador, earlier told the Philippine News Agency… Read More
PCC offers DA advisory support amid looming chix shortage
January 11, 2019, 7:27 pm
MANILA -- The Philippine Competition Commission (PCC) on Friday offered "advisory support" to the Department of Agriculture (DA) in the formulation of policies to improve the farm sector's welfare amid a possible chicken meat shortage in the second quarter of this year. "As the country’s… Read More
2 Chinese shipbuilders eyeing Hanjin biz in Subic
January 11, 2019, 7:25 pm
MANILA -- Two Chinese shipbuilders expressed their interest to take over the business of Hanjin Heavy Industries and Construction Philippines (HHIC-Phil), Department of Trade and Industry (DTI) Undersecretary and Board of Investments (BOI) Managing Head Ceferino Rodolfo said. Rodolfo said his… Read More
Regulatory enhancements to shield banks from Hanjin fallout
January 11, 2019, 7:24 pm
MANILA -- Policy enhancements on banks' capital, risk management systems and good governance, among others, will protect exposed local banks from any headwinds that may arise from the bankruptcy announcement of Hanjin Heavy Industries and Construction Philippines. Bangko Sentral ng Pilipinas (BSP)… Read More
USD491-M FDI net inflow posted in Oct. 2018
January 11, 2019, 7:23 pm
MANILA -- Foreign direct investments (FDI) registered USD491 million net inflows in October 2018, 74.2 percent lower than the USD1.9 billion net inflows recorded in the same month in 2017, the Bangko Sentral ng Pilipinas (BSP) disclosed in a statement on Friday. Net investments of equity capital… Read More
CEB reminds passengers of new baggage allowance starting Jan. 15
January 11, 2019, 6:52 pm
MANILA -- Local carrier Cebu Pacific (CEB) is reminding passengers that it will implement its new check-in baggage policy starting Jan. 15. "This (policy) regarding the allowed baggage allowance is the same as what we announced last year. We are just reminding our passengers that the carrier will… Read More
TUCP lauds passage of Telecommuting Act
January 11, 2019, 2:40 pm
MANILA -- The Trade Union Congress of the Philippines (TUCP) applauded President Rodrigo Duterte for signing into law a measure allowing workers to work from home as alternative work arrangement in the light of heavy traffic congestion and poor mass transport system. “After pending in both… Read More
Money laundering decision vs. RCBC exec to help in funds recovery
January 11, 2019, 8:10 am
MANILA -- The conviction of a former Rizal Commercial Banking Corporation (RCBC) official for money laundering, in relation to the USD81 million stolen funds of Bangladesh Bank, part of which ended in casinos operating in the Philippines, will indirectly help in the recovery of the remaining… Read More
Dominguez bats for liberal regulatory system for Fintech
January 10, 2019, 8:56 pm
MANILA -- Finance Secretary Carlos Dominguez III in a statement on Thursday underscored the need to put in place a liberal regulatory environment to enable financial technologies (Fintech), that would help Filipinos ride the digital wave, flourish in the country. In a meeting held recently with… Read More
Peso Rediscount Facility availments surge in 2018
January 10, 2019, 8:27 pm
MANILA -- Availments in the Bangko Sentral ng Pilipinas’ (BSP) Peso Rediscount Facility posted a big year-on-year jump in 2018 a clear indication that banks are lending more to their clients. Data released by the central bank Thursday showed that total availments in the PRF reached PHP71.524… Read More
Cleanergy powers all Net Group buildings in BGC
January 10, 2019, 7:31 pm
MANILA -- AboitizPower’s Cleanergy is now providing all seven buildings of The Net Group (TNG) with clean and renewable energy. AboitizPower and TNG signed a power supply contract on Thursday, in which the former will supply a total of 13.5 megawatts (MW) to TNG’s seven office buildings. These… Read More
