Business

PHilMech to test rolling corn mill technology

PHilMech to test rolling corn mill technology

October 26, 2018, 6:46 pm

MANILA -- The Department of Agriculture’s Philippine Center for Postharvest Development and Mechanization (PHilMech) is improving its compact corn mill to help more farming villages boost their productivity, in an effort to increase their income and enhance food security. "We're piloting in… Read More

Grab to appeal fines imposed for Uber merger

Grab to appeal fines imposed for Uber merger

October 26, 2018, 6:11 pm

MANILA -- Grab Philippines will appeal the decision of the Philippine Competition Commission (PCC) which imposed a PHP12-million fine for allegedly violating the interim measures order imposed during the review of its acquisition of Uber’s operations, its lawyer said Friday. “We respectfully… Read More

BSP open to more currency pair trading

BSP open to more currency pair trading

October 26, 2018, 4:40 pm

MANILA -- A memorandum of understanding (MOU) for the ratification of renminbi trading in the Philippines is set to be signed next week and similar pacts for trading other currency pairs are in the works, a ranking Bangko Sentral ng Pilipinas (BSP) official disclosed Friday. This is part of the… Read More

EU urges PH to tap available funding for innovative energy projects

EU urges PH to tap available funding for innovative energy projects

October 26, 2018, 4:29 pm

MANILA -- The European Union's (EU) delegation to the Philippines urged local stakeholders to tap its available funding for sustainable and reliable energy projects. EU Project Manager for Cooperation Section Willy Hick said Thursday during the Energy Smart 2018 of the European Chamber of Commerce… Read More

Ilonggo MSMEs avail of packaging, labeling assistance from DOST

Ilonggo MSMEs avail of packaging, labeling assistance from DOST

October 26, 2018, 3:57 pm

ILOILO CITY – A total of 14 micro, small and medium enterprises (MSMEs) from Iloilo province have received packaging and labeling assistance from the Department of Science and Technology (DOST). The product labels were turned over to recipient-beneficiaries by Science and Technology Secretary… Read More

Sustainable, cleaner source of power needed in ecozones

Sustainable, cleaner source of power needed in ecozones

October 26, 2018, 3:45 pm

MANILA -- The demand for cleaner and sustainable power inside the country's economic zones will inevitably rise as more locators come in, the management of the Philippine Economic Zone Authority (PEZA) said Thursday. PEZA Project Development Officer Ludwig Daza said that in seven ecozones alone,… Read More

Grab expands operations to Tacloban City

Grab expands operations to Tacloban City

October 25, 2018, 9:21 pm

MANILA -- Grab Philippines announced Thursday it has expanded its operations to Tacloban City to provide more services for both locals and tourists in that city. “Our commitment to provide better transportation options to more Filipinos remains firm. As we become the everyday app, we continue… Read More

Private sector urged to invest in Boracay projects

Private sector urged to invest in Boracay projects

October 25, 2018, 7:44 pm

MANILA -- The government urged private enterprises to invest in projects meant to support sustainable tourism in Boracay which is scheduled to reopen Friday. “So we are reopening, there are interventions done by the government but those are not enough. We still need to implement projects and… Read More

Global risk-off sentiment sinks PSEi, peso holds ground

Global risk-off sentiment sinks PSEi, peso holds ground

October 25, 2018, 7:09 pm

MANILA -- Trade war concerns, along with the slide of Wall Street, resulted in the negative close of the Philippine Stock Exchange index (PSEi) but the peso managed to stay afloat during Thursday's trading. PSEi declined for the third consecutive day after it gave up 2.28 percent, or 162.58… Read More

Monetary Board seen to keep current BSP rates

Monetary Board seen to keep current BSP rates

October 25, 2018, 6:55 pm

MANILA -- An economist of ING Bank Manila on Thursday discounted additional adjustments in the Bangko Sentral ng Pilipinas' (BSP) key policy rates next month, noting that domestic inflation may have already peaked last September. Citing Philippine Statistics Authority (PSA) data, Nicholas Mapa… Read More

More oil exploration activities in PH pushed

More oil exploration activities in PH pushed

October 25, 2018, 6:51 pm

MANILA -- Top management of Shell Philippines Exploration B.V. (SPEX), operator and developer of the Malampaya deep water gas-to-power project, said more effort should be put in oil exploration activities to ensure steady energy supply for the country in the future. During the Energy Smart… Read More

PCSO posts P48-B revenues in 3rd quarter of 2018

PCSO posts P48-B revenues in 3rd quarter of 2018

October 25, 2018, 6:39 pm

LEGAZPI CITY-- The Philippine Charity Sweepstakes Office (PCSO) reported a total revenue of PHP48 billion from January to September this year, up PHP9.7 billion, or 25 percent from PHP38.2 billion in the same period of 2017. The amount represents the combined earnings of PCSO from all its… Read More

Banks to ratify renminbi trading in PH

Banks to ratify renminbi trading in PH

October 25, 2018, 6:08 pm

MANILA -- Representatives of the Bangko Sentral ng Pilipinas (BSP) and several banks are set to sign a Memorandum of Understanding (MOU) for the ratification of renminbi (RMB) trading in the Philippines. This is intended to ensure a fair, transparent, and resilient RMB market following the… Read More

NPC head gets seat in int’l privacy body

NPC head gets seat in int’l privacy body

October 25, 2018, 3:49 pm

MANILA -- National Privacy Commission (NPC) Commissioner Raymund Liboro is now among the five members of the executive committee of the International Conference of Data Protection and Privacy Commissioners (ICDPPC), the premier global forum on data protection and privacy. In a statement Thursday,… Read More

Chinese investors want clear incentives rules in PH: PEZA chief

Chinese investors want clear incentives rules in PH: PEZA chief

October 25, 2018, 2:16 pm

MANILA -- Chinese companies are eyeing to relocate their operations in the Philippines with the ongoing trade friction between China and the United States, but investors want clear rules on fiscal incentives in the country, a government official said Monday. Philippine Economic Zone Authority… Read More

PH, Japan to sign MRT rehab loan deal before end of October

PH, Japan to sign MRT rehab loan deal before end of October

October 25, 2018, 12:34 pm

MANILA -- The Philippines and Japan are set to sign a loan agreement for the rehabilitation of the Metro Rail Transit Line-3 (MRT-3) before the end of this month. This will pave the way for the entry of a Japanese maintenance provider that will take over the railway system’s maintenance and… Read More

Villar-owned firm interested to bid for 3rd telco: DICT

Villar-owned firm interested to bid for 3rd telco: DICT

October 25, 2018, 9:25 am

MANILA — Streamtech Systems Technologies Inc. expressed interest to become the new major player in the telco industry, the Department of Information and Communications Technology (DICT) said. “Yes, they expressed interest but would have to look for a foreign partner that has at least 10 years… Read More

DTI continues livelihood aid to Marawi folks

DTI continues livelihood aid to Marawi folks

October 24, 2018, 9:10 pm

MANILA -- Over a year after the guns fell silent in Marawi City, the Department of Trade and Industry (DTI) continues to provide livelihood assistance for families and individuals whose lives were turned upside down by the months-long fighting. In a statement Wednesday, the Small Business (SB)… Read More

BSP cuts 7-day, 28-day TDF offering for next week's auction

BSP cuts 7-day, 28-day TDF offering for next week's auction

October 24, 2018, 8:41 pm

MANILA -- The Bangko Sentral ng Pilipinas (BSP) cut the offering for the seven and 28-day Term Deposit Facilities (TDF) in its auction on October 31, 2018. The offering for the seven-day facility was cut to PHP40 billion from PHP50 billion this week and the 28-day facility to PHP10 billion from… Read More

BSP allows conservative UITF investors to tap gov't-backed notes

BSP allows conservative UITF investors to tap gov't-backed notes

October 24, 2018, 7:16 pm

MANILA -- The Bangko Sentral ng Pilipinas (BSP) has decided to allow conservative investors of Unit Investment Trust Fund (UITF) to place their funds in government-backed floating rate notes. BSP Deputy Governor Chuchi Fonacier said this rule was approved by the policy-making Monetary Board (MB)… Read More