PSEi, peso end Tuesday with gains

MANILA - - Both the Philippine Stock Exchange index (PSEi) and the peso ended Tuesday on a positive note following days of muted performance.PSEi rose by 0.75 percent, 60.55 points, to 8,145.00 points, recovering from a six-day slide. A trader traced it partly to deceleration of domestic inflation... Read More

PH inflation declines further to 3.3% in November

MANILA -- The country’s inflation rate declined for three consecutive months to 3.3 percent in November from previous month’s 3.5 percent due mainly to lower food prices, the Philippine Statistics Authority (PSA) reported Tuesday.The PSA, an attached agency of the National Economic and... Read More

8990 Holdings sets P3-B capex for 2018

MANILA -- Listed mass housing developer 8990 Holdings Inc. is earmarking PHP3 billion in capital expenditures (capex) for 2018, higher than this year’s PHP2 billion, to launch more residential projects.Incoming president and chief operating officer Willie Uy said the company aims to introduce... Read More

PCCI fears Senate's TRAIN bill to drag biz competitiveness 

MANILA – The Philippine Chamber of Commerce and Industry (PCCI), the country's largest business organization, fears that the Senate version of the Tax Reform for Acceleration and Inclusion (TRAIN) bill would drag the competitiveness of local businesses. This, after the Senate’s version... Read More

Joint venture bags P22.5-B Cebu expressway project

MANILA -- A subsidiary of Metro Pacific Tollways Corp. (MPTC) has awarded the PHP22.6-billion design-and-build contract of the 8.5-kilometer Cebu-Cordova Link Expressway (CCLEX) to Cebu Link Joint Venture (CLJV).

Cebu Cordova Link Expressway Corporation (CCLEC), a subsidiary of the toll road... Read More

DTI launches #consumerPH to promote consumer awareness online

MANILA -- The Department of Trade and Industry (DTI) launched Monday the #consumerPH, a social media initiative to increase consumer awareness in the country.Through its Consumer Protection and Advocacy Bureau (CPAB), the #consumerPH aims to boost online presence of DTI in social media platforms... Read More

Aseagas goes on shutting down Batangas biomass plant

MANILA -- Aboitiz Power Corporation (APC) said Monday its wholly owned subsidiary Aseagas Corporation is pushing through with the shutdown of its 8.8-megawatt biomass power plant in Lian, Batangas to further assess the plant’s technical problems and determine the best thing to do with the... Read More

Smart to roll out over 4,200 3G, LTE sites by end-2017

MANILA -- Smart Communications is expected to complete the installation of more than 4,200 3G and Long Term Evolution (LTE) sites nationwide by yearend, in line with efforts to improve the delivery of mobile services to its subscribers.“Our commitment to the National Telecommunications... Read More

Coal tax might burden consumers: NEA chief

MANILA -- National Electrification Administration (NEA) chief Edgardo Masongsong is concerned that while the proposal to impose a higher excise tax on coal would promote the development of renewable energy (RE) sources, this might become an additional burden for consumers."I believe this will... Read More

World Bank urges adoption of integrated social protection policy

MANILA -- The Philippines needs to create an integrated social protection policy to reduce poverty, according to a new World Bank (WB) report.The WB report, titled “Riding the Wave: An East Asian Miracle for the 21st Century,” described the Philippines, along with Indonesia and Cambodia,... Read More

Profit-taking puts PSEi, peso down on week's first trading day

MANILA -- Profit-taking continues to reign over the Philippines equities market and affected anew the local currency.The Philippine Stock Exchange index (PSEi) shed 0.73 percent, or 59.57 points, to 8,084.45 points, which a trader partly attributed to news of higher taxes on coal, based on the... Read More

DTI exceeds Go! Lokal target for 2017

MANILA -- The Department of Trade and Industry (DTI) has exceeded its target number of Go! Lokal stores to be established this year.Go! Lokal is a public-private partnership program of DTI, wherein the government partners with private stock retailers, mall operators, and vendors to bring quality... Read More

DBS forecasts PH's November inflation at 3.5%

MANILA -- A research note by financial institution DBS forecasts the Philippines’ November 2017 inflation rate to remain flat at 3.5 percent compared to the month-ago level.DBS Group Research, in a study, said upside risks are expected at the near term “given robust domestic demand as... Read More

Tilapia produces more spawn in cool waters

BATAC CITY, Ilocos Norte -- Tilapia produces more spawn in cool than in warm water. It is then necessary to provide their environment and breeding ponds with shades to enhance fingerling production.This was the recommendation of Dr. Veronica Grande and Prof. Marjorie Ramos, researchers of the... Read More

PH urged to boost agricultural productivity for inclusive growth

MANILA -- The country needs to undertake policies to accelerate productivity growth in the long run across all sectors especially in agriculture, which remains a key sector for inclusive growth and poverty alleviation, according to the Philippine Institute for Development Studies (PIDS).PIDS senior... Read More

MM retail prices down to 2.7% in October

MANILA -- Retail prices of goods in Metro Manila declined to 2.7 percent in October 2017 from 3.2 percent in the previous month, the Philippine Statistics Authority (PSA) reported.PSA data attributed lower retail prices to the decline in annual growth of food index to 4 percent; crude materials,... Read More

BOC posts record-breaking November revenue

MANILA -- The Bureau of Customs (BOC) posted PHP46.470 billion revenues in November, its highest recorded monthly collection.Customs Commissioner Isidro Lapena reported that five collection districts were able to surpass their monthly targets, namely, ports of Batangas, Davao, Cagayan de Oro, Clark... Read More

8990 Holdings to launch P60-B projects next year

MANILA – Listed mass housing developer 8990 Holdings Inc. will introduce to the market next year five projects worth PHP60 billion, to boost its revenue target of PHP14 billion after posting strong growth this year.Company Chief Operating Officer Willie Uy said these projects are located in... Read More

Consumption to remain as PH's major growth driver: HSBC economist

MANILA - - Consumption is seen to remain among the major growth drivers of the Philippine economy and counter the impact of negative developments overseas.In a research, HSBC economist Joseph Incalcaterra said that consumption, which accounts for more than 70 percent of domestic output, continues to... Read More

PH urges nations to ensure industrialization brings inclusive growth

MANILA -- The Philippines is urging other countries to work together to ensure all sectors benefit from robust economic growth amid industrialization and technological advancements.Socioeconomic Planning Secretary Ernesto Pernia noted that inclusivity requires the provision of greater market access... Read More