Business

PH inflation seen to ease by yearend

PH inflation seen to ease by yearend

October 5, 2018, 3:15 pm

MANILA -- The top economic managers of the Duterte administration remain optimistic that inflation will taper off by yearend after hitting a fresh nine-year high last month, mainly due to higher food prices caused by supply disruptions, immediately following the onslaught of Typhoon Ompong. In a… Read More

 Non-monetary measures needed to bring down inflation: BSP

Non-monetary measures needed to bring down inflation: BSP

October 5, 2018, 3:13 pm

MANILA -- Non-monetary measures need to be put in place to help slow the rise of inflation and bring it back to government's two to four percent target in 2019. This, according to the Bangko Sentral ng Pilipinas (BSP) Friday amid another increase in the rate of price increases last September to… Read More

SoKor envoy asks Korean companies to 'invest, invest, invest' in PH

SoKor envoy asks Korean companies to 'invest, invest, invest' in PH

October 5, 2018, 10:53 am

MANILA – “Invest, invest, invest in the Philippines" -- this was the clarion call of South Korean Ambassador Han Dong-man as he urged South Korean companies to invest in the Philippines in response to President Rodrigo R. Duterte’s “Build, Build, Build” program which seeks to spur… Read More

Local markets weaken ahead of September inflation report

Local markets weaken ahead of September inflation report

October 4, 2018, 9:09 pm

MANILA -- Bargain hunting pinned Philippines equities Thursday contributing to the peso’s weakness a day after both markets ended trading with gains. The Philippine Stock Exchange index (PSEi) finished the day at 7,093.34 points, down 1.63 percent or 117.53 points. All the other counters… Read More

Digitalization drives BPO industry's evolution

Digitalization drives BPO industry's evolution

October 4, 2018, 9:06 pm

MANILA -- Swedish business process outsourcing (BPO) company Transcom Holding AB said the constant advancement of digitalization motivates the industry to evolve its services and pool of talents, its executive told reporters. Transcom Global Chief Executive Officer Michael Weinreich, in a briefing… Read More

Rise in imports increases BOC-Dumaguete's tax collections

Rise in imports increases BOC-Dumaguete's tax collections

October 4, 2018, 9:01 pm

DUMAGUETE CITY – The Bureau of Customs (BOC) Sub-port Office here has attributed its positive accomplishments in revenue collection to increased importation of petroleum and other products. “Filoil has increased the volume of their imports so meaning, there is also an increase in the duties… Read More

Monetary execs say PH still robust amid peso weakness, CA deficit

Monetary execs say PH still robust amid peso weakness, CA deficit

October 4, 2018, 7:45 pm

MANILA -- Philippine monetary officials are not worried about the peso's current rate of depreciation since this was brought about by the demand for the US dollar, in line with the sustained growth of the country’s imports. To date, the peso has weakened by more than 6 percent against the… Read More

4 Bulacan coops make CDA billionaires' list

4 Bulacan coops make CDA billionaires' list

October 4, 2018, 7:45 pm

CITY OF MALOLOS, Bulacan -- Four cooperatives in this province made it to the list of Top 50 cooperatives in the billionaire bracket of the Cooperative Development Authority (CDA) in 2017. These are: St. Martin of Tours Development Credit Cooperative, which has PHP1.96 billion worth of assets; San… Read More

PH still among fastest-growing economies in SEA: WB

PH still among fastest-growing economies in SEA: WB

October 4, 2018, 7:43 pm

MANILA -- The World Bank (WB) expects the Philippine economy to speed up in the second half of 2018 and in early 2019, and will continue to be among the fastest-growing economies in Southeast Asia this year despite inflationary pressures and rising global uncertainty. The WB slightly lowered its… Read More

DOE completes distribution of e-vehicles to gov't agencies

DOE completes distribution of e-vehicles to gov't agencies

October 4, 2018, 7:37 pm

MANILA -- The Department of Energy (DOE) announced that it has completed the distribution of 85 e-vehicles to various government agencies. "(The last batch), two units each were turned over to the Office of the President (OP) and the PCIEERD (Philippine Council for Industry, Energy and Emerging… Read More

Global oil prices to decide oil excise tax suspension

Global oil prices to decide oil excise tax suspension

October 4, 2018, 6:27 pm

MANILA -- A suspension of excise tax increases levied on petroleum products under the Tax Reform for Acceleration and Inclusion (TRAIN) law is possible next year, but only if global crude prices average USD80 per barrel in the last quarter of 2018. This was stressed by Department of Finance (DOF)… Read More

Suspend oil excise tax to tame inflation: PCCI

Suspend oil excise tax to tame inflation: PCCI

October 4, 2018, 3:55 pm

MANILA -- The Philippine Chamber of Commerce and Industry (PCCI), the country’s largest business organization, on Thursday called for the suspension of excise tax on petroleum products amid the surge in inflation rates posted this year. PCCI President Alegria Sibal-Limjoco told reporters that… Read More

BOI, IFC partners to attract more investments

BOI, IFC partners to attract more investments

October 4, 2018, 2:53 pm

MANILA -- The Board of Investments (BOI) and the International Finance Corp. (IFC) forged a partnership with the end goal of attracting more foreign direct investments (FDIs) into the country. The BOI announced on Thursday that its managing head, Trade Undersecretary Ceferino Rodolfo, and IFC… Read More

Sarangani extends realty tax amnesty program until yearend

Sarangani extends realty tax amnesty program until yearend

October 3, 2018, 8:37 pm

GENERAL SANTOS CITY – The provincial government of Sarangani has extended until yearend its tax amnesty program for real properties with tax delinquencies. Sarangani Governor Steve Chiongbian Solon said Wednesday they stretched the amnesty program until Dec. 31 to give taxpayers from the… Read More

 BSP ups 7, 14-day TDF offerings

BSP ups 7, 14-day TDF offerings

October 3, 2018, 8:04 pm

MANILA – The Bangko Sentral ng Pilipinas (BSP) on Wednesday announced a higher offering for the seven-day and 14-day Term Deposit Facility (TDF) auction on October 10. Data released by the central bank showed that offer volume for the shortest tenor TDF was hiked to PHP50 billion from PHP40… Read More

Fintech firm, DTI to extend P1.5-B loan for SMEs

Fintech firm, DTI to extend P1.5-B loan for SMEs

October 3, 2018, 6:57 pm

MANILA – Philippine-based financial technology firm First Circle has partnered with the Department of Trade and Industry (DTI) to extend a PHP1.5-billion credit facility to small and medium enterprises (SMEs) in the country. On Wednesday, Trade Secretary Ramon Lopez, Small Business (SB) Corp.… Read More

 PH not falling into a debt trap: Diokno

PH not falling into a debt trap: Diokno

October 3, 2018, 5:21 pm

MANILA – The Duterte administration may have tapped official development assistance (ODA) loans to help fund its massive infrastructure program but this does not mean that the government will be jumping into a bottomless pit. “We’re not falling into a debt trap (because) number one, we’re… Read More

PCCI presents solutions to problems plaguing local business

PCCI presents solutions to problems plaguing local business

October 3, 2018, 4:34 pm

MANILA – Instead of just ranting about persistent problems hounding the business sector, the Philippine Chamber of Commerce and Industry (PCCI) has come up with proposed solutions, which it intends to bring before President Rodrigo Duterte. During the upcoming 44th Philippine Business Conference… Read More

Biz groups welcome issuance of AO13

Biz groups welcome issuance of AO13

October 3, 2018, 4:34 pm

MANILA – The country's most influential business groups jointly welcomed the issuance of Administrative Order No. 13 (AO 13), which seeks to curb the rising prices of food. In a statement Wednesday, the Philippine Chamber of Commerce and Industry (PCCI), Philippine Exporters Confederation… Read More

Diokno says Vodafone interested in PH market

Diokno says Vodafone interested in PH market

October 3, 2018, 3:34 pm

MANILA – Executives of United Kingdom-based telecommunication company Vodafone “appear interested” to explore the Philippine market after they were told that government is now laying the groundwork for the entry of a third telco player. Budget and Management Secretary Benjamin Diokno, during… Read More