Business

BOI investment pledges up 19% in Jan.-Sept.

BOI investment pledges up 19% in Jan.-Sept.

October 18, 2018, 9:23 pm

MANILA — Investments registered with the Board of Investments (BOI) in the first nine months of the year have increased by 19 percent to PHP454.8 billion from only PHP381.2 billion worth of investment approvals during the same period in 2017. BOI reported Thursday that the bulk of these… Read More

BSP exec cites importance of effective risk management on fintech

BSP exec cites importance of effective risk management on fintech

October 18, 2018, 9:03 pm

MANILA — Tapping technological innovations can really improve financial services but a ranking Bangko Sentral ng Pilipinas (BSP) official said effective risk management should be in place to ensure a level playing field and consumer protection. In her speech during the launch of the Digital… Read More

Recommendation to suspend oil tax hike remains: Lambino

Recommendation to suspend oil tax hike remains: Lambino

October 18, 2018, 8:36 pm

MANILA — A ranking official of the Department of Finance (DOF) said the recommendation of economic managers to suspend the second installment of the oil excise tax increase in 2019 remains despite oil futures predicting a decline in global oil prices next year. The price of oil in the… Read More

Pernia says scheduled hike in fuel tax should push through

Pernia says scheduled hike in fuel tax should push through

October 18, 2018, 7:45 pm

MANILA -- Socioeconomic Secretary Ernesto Pernia favors that the petroleum tax hike scheduled for next year push through, after the latest report on oil futures forecast a softening of oil world crude prices in 2019. “Maybe, it’s better if we don’t suspend it. We really have to study it… Read More

PCCI proposes to PRRD possible solutions to economic woes

PCCI proposes to PRRD possible solutions to economic woes

October 18, 2018, 7:25 pm

MANILA -- The country’s largest business organization, the Philippine Chamber of Commerce and Industry (PCCI), presented to President Rodrigo Duterte on Thursday its list of resolutions formed in the weeks leading up to the 44th Philippine Business Conference (PBC), now taking place at the… Read More

Local stocks still win, peso slightly loses in Thursday trading

Local stocks still win, peso slightly loses in Thursday trading

October 18, 2018, 7:06 pm

MANILA -- Indications of a further rise in the US Federal Reserve's rates boosted risk-on sentiments in the Philippine equities market Thursday but the peso suffered after the greenback strengthened. The Philippine Stock Exchange index (PSEi) rose for the third straight day after it gained 0.59… Read More

Xi visit to PH to boost economic ties: Chinese counselor

Xi visit to PH to boost economic ties: Chinese counselor

October 18, 2018, 4:46 pm

MANILA -- The visit of Chinese President Xi Jinping to the Philippines next month will pave the way for stronger economic ties between the two countries, an official from the Embassy of the People’s Republic of China here said Thursday. During the 44th Philippine Business Conference and Expo… Read More

EU envoy to hasten FTA talks with PH

EU envoy to hasten FTA talks with PH

October 18, 2018, 10:53 am

MANILA -- European Union (EU) Ambassador to the Philippines Franz Jessen on Thursday said he wants to hasten discussion for the free trade deal with the country to improve the economic ties between the EU and the Philippines. “A free trade agreement with the Philippines is clearly one of my… Read More

Prices of commercial rice seen declining further

Prices of commercial rice seen declining further

October 17, 2018, 11:21 pm

MANILA — Prices of commercial rice in the market have declined by as much as PHP5 per kilo and are likely to drop further by the end of month, giving some relief to consumers. “As projected, prices of commercial rice in the market have started to stabilize as harvests have begun and the… Read More

PH inks oil exploration deal with Israeli firm

PH inks oil exploration deal with Israeli firm

October 17, 2018, 9:10 pm

MANILA — Energy Secretary Alfonso G. Cusi witnessed on Wednesday the ceremonial signing of the Petroleum Service Contract (PSC) for Area 4 (East Palawan Basin) of the Fifth Philippine Energy Contracting Round (PECR5) at the Presidents' Hall of Malacanan Palace. President Rodrigo R. Duterte… Read More

Avida eyes P4-B sales from Mandaluyong residential project

Avida eyes P4-B sales from Mandaluyong residential project

October 17, 2018, 8:01 pm

MANILA — The mid-range brand of property giant Ayala Land Inc. expects to generate PHP4 billion in sales from its residential project in Mandaluyong City, targeting business process outsourcing (BPO) employees and other office workers. Melissa Corpuz, Project Development Manager for North Luzon… Read More

Oil futures forecast downward trend

Oil futures forecast downward trend

October 17, 2018, 7:56 pm

MANILA -- The current price of Dubai crude oil in the international market is now over USD80 per barrel but oil futures predict declining levels in 2019. In an economic bulletin Wednesday, the Department of Finance (DOF) said oil prices remain volatile due to combination of factors that include… Read More

Local markets still up for a 2nd day

Local markets still up for a 2nd day

October 17, 2018, 7:38 pm

MANILA – Both the Philippine bourse and the peso ended with gains for the second consecutive day Wednesday, mirroring the bullish sentiment at Wall Street. The Philippine Stock Exchange index (PSEi) rose by 1.61 percent, or 112.66 points, to 7,099.68 points. Landbank market economist Guian… Read More

TDF rates down this week

TDF rates down this week

October 17, 2018, 7:37 pm

MANILA – The rates of Bangko Sentral ng Pilipinas’ (BSP) Term Deposit Facility (TDF) fell across-the-board Wednesday but the offering for the longest tenor increased for next week’s auction. Data released by the central bank showed that weighted average accepted yield of the seven-day… Read More

PCC imposes P16-M fine vs. Uber, Grab on merger deal

PCC imposes P16-M fine vs. Uber, Grab on merger deal

October 17, 2018, 7:15 pm

MANILA – The Philippine Competition Commission (PCC) has imposed a PHP16-million fine against ride-sharing firms Grab Philippines and Uber for violating the interim measures it has imposed during the review period of their merger earlier this year. The anti-trust watchdog said the non-compliance… Read More

Italpinas sets P3-B for 2 residential projects

Italpinas sets P3-B for 2 residential projects

October 17, 2018, 7:11 pm

MANILA – Green property developer Italpinas Development Corporation (IDC) will spend up to PHP3 billion next year to expand its residential projects in Batangas and Cagayan de Oro, to meet rising demand and to help address the housing backlog in the country. IDC chairman and chief executive… Read More

Liberalized importation to address inflation upticks

Liberalized importation to address inflation upticks

October 17, 2018, 6:57 pm

MANILA – The Philippine government’s bid to liberalize importation of some basic commodities is targeted to ensure sufficient supply and address inflation upticks but businessmen still need to go through the proper paperwork, the country's budget chief said. “The main objective of the… Read More

Community bakeries keep Pinoy 'Tasty', pandesal prices till yearend

Community bakeries keep Pinoy 'Tasty', pandesal prices till yearend

October 17, 2018, 6:21 pm

MANILA – Community bakeries across the country are matching a move by their bigger competitors to maintain the prices of Pinoy Tasty and Pinoy Pandesal until Dec. 31 this year, to help Filipino consumers enjoy the Christmas season despite high inflation. Philippine Federation of Bakers’… Read More

Protectionism could lead to price spike, cement importers say

Protectionism could lead to price spike, cement importers say

October 17, 2018, 5:21 pm

MANILA – Cement importers warned that cement prices in Metro Manila could hit record-highs if the Department of Trade and Industry (DTI) backs the adoption of protectionist policies. In an interview, Cohaco Cement Importer chair Napoleon Co said a bag of cement may reach up to PHP250 in the… Read More

No hike in Pantawid Pasada for 2019

No hike in Pantawid Pasada for 2019

October 17, 2018, 4:09 pm

MANILA – Beneficiaries of the government’s Pantawid Pasada program may not receive an increase in 2019 if the second hike in oil excise taxes under the Tax Reform for Acceleration and Inclusion (TRAIN) is suspended next year. In a briefing Wednesday, Budget Secretary Benjamin Diokno said the… Read More