Business
MARINA to accredit cruise ships up to 20 years old
August 29, 2018, 7:47 pm
MANILA -- The Maritime Industry Authority (MARINA) announced that cruise ships in service between one to twenty years will undergo a process of accreditation to ensure the seaworthiness of ocean vessels traversing along the Philippine seas. This, as the agency said it supports the development of… Read More
PSEi, Peso down on US-Canada trade worries
August 29, 2018, 7:42 pm
MANILA -- Trade tensions overseas continue to dampen investor sentiments in Philippine markets resulting in the slip of the main equities gauge Wednesday after it recovered a day ago as well as the local currency. Despite this, the Philippine Stock Exchange index (PSEi) remained at 7,800-level at… Read More
Lopez attends ASEAN meet then off to Israel, Jordan with PRRD
August 29, 2018, 7:41 pm
MANILA -- Trade Secretary Ramon Lopez will be attending the 50th ASEAN Economic Ministers (AEM) Meeting and Related Meetings from August 29 to September 1 in Singapore, and will be joining President Rodrigo Duterte in his visit to Israel and Jordan next week, the Department of Trade and Industry… Read More
TDF rates continue to rise
August 29, 2018, 7:03 pm
MANILA -- The rates of the Bangko Sentral ng Pilipinas’ (BSP) Term Deposit Facility (TDF) rose across-the-board anew Wednesday, in step with the trend of domestic interest rates. Data released by the central bank showed that the average rate of the seven-day facility went up to 4.2878 percent… Read More
Laban Konsyumer welcomes bills broadening consumer representation
August 29, 2018, 6:58 pm
MANILA -- Laban Konsyumer, Inc. (LKI) welcomed several bills pending before Congress that seek the participation of private sector consumer advocacies in advancing the interests of the consuming public. LKI founder and president Victorio Mario Dimagiba on Wednesday cited the proposed boards and… Read More
3-yr T-bond rate up on rate hike expectations, inflation peak
August 29, 2018, 6:23 pm
MANILA -- The rate of the Philippines’ re-issued three-year Treasury bond (T-bond) rose Wednesday as demand remains high due in part to expectations of further rise in interest rates in general. Average rate of the debt paper, which has a remaining life of two years and five months, increased by… Read More
Foreign bizmen maintain investment appetite in PH: Lopez
August 29, 2018, 4:11 pm
MANILA -- Foreign businessmen have maintained their investment appetite in the Philippines, unchanged since the Duterte administration took office two years ago, the country’s top trade official said. In an interview with the Philippine News Agency, Trade and Industry Secretary Ramon Lopez said… Read More
Gov't considering changes in 2019 budget proposal
August 29, 2018, 1:36 pm
MANILA -- The Duterte administration is sticking with its proposed cash-based budgeting system for 2019 but Budget and Management Secretary Benjamin Diokno said they are planning to extend the payment period for projects. The proposed PHP3.757-trillion national budget for next year has a validity… Read More
Peso, local stocks rise on US-Mexico trade deal
August 28, 2018, 7:58 pm
MANILA -- The Philippine peso and the Philippine Stock Exchange index (PSEi) ended the shortened week’s first trading day on positive territory partly on news about the US-Mexico trade deal. The local unit ended Tuesday's trading at 53.325 from 53.465 Friday last week on lesser concerns on US’… Read More
MPTC okay with staggered toll fee hike
August 28, 2018, 7:34 pm
MANILA -- Metro Pacific Tollways Corp. (MPTC) President and Chief Executive Officer Rodrigo Franco said the company is agreeable to a staggered implementation of toll fee increases once the upward rate adjustments are approved by government. This is in response to the request made by Department of… Read More
High liquidity, rate hike expectations lift T-bill rates
August 28, 2018, 7:32 pm
MANILA -- The upward direction of Philippine Treasury bills (T-bills) were sustained on Tuesday, which National Treasurer Rosalia de Leon traced to high liquidity situation and expectations for further increase in interest rates. Average rate of the 91-day paper went up to 3.218 percent from last… Read More
Peso weakness' impact on infra projects 'insignificant'
August 28, 2018, 7:30 pm
MANILA -- The depreciation of the Philippine peso will not delay the roll-out of government's infrastructure program, Public Works and Highways Secretary Mark Villar said Tuesday. During the 2nd Economic Journalists Association of the Philippines (EJAP) Economic Forum, Villar said the weaker… Read More
Grab urges LTFRB to increase TNVS supply base to 80K
August 28, 2018, 6:33 pm
MANILA -- Ridesharing firm Grab Philippines is urging the Land Transportation Franchising and Regulatory Board (LTFRB) to increase the common supply base for transportation network vehicle services (TNVS) units to around 80,000 to meet the riding public's growing demand. This, as Grab welcomes the… Read More
PH to be active in Panda bond, Samurai bond markets
August 28, 2018, 6:32 pm
MANILA -- Panda bond and Samurai bond issuances will be a normal funding source for the Philippines under the Duterte administration, Finance Secretary Carlos Dominguez III announced on Tuesday. “As I mentioned to the (Bureau of the) Treasury, yes, I told them that I don’t want to be absent… Read More
Dominguez not amenable to budget deficit beyond 3% of GDP
August 28, 2018, 5:51 pm
MANILA -- Finance Secretary Carlos Dominguez on Tuesday said he is willing to accept changes in the proposed tax reform measures but not the change in the deficit ceiling, which was placed at three percent of the country's gross domestic product (GDP). During the 2nd Economic Journalists… Read More
DTI releases livelihood fund for Boracay MSMEs
August 28, 2018, 1:34 pm
MANILA -- The Small Business (SB) Corp., the financing arm of the Department of Trade and Industry (DTI), has released some PHP210,000 worth of loans to micro entrepreneurs on Boracay Island as of August 24. The loans granted to small-scale businesses were under the Pondo sa Pagbabago at… Read More
Dominguez says hefty investments fueling PH's rapid growth
August 28, 2018, 1:33 pm
MANILA -- Finance Secretary Carlos Dominguez III said in a statement on Tuesday that the Philippines continues to be among the best performing economies in Asia, on the strength of higher foreign direct investment (FDI) inflows and rising capital formation. Dominguez said a significant increase in… Read More
Pump prices up again Tuesday
August 27, 2018, 6:48 pm
MANILA -- Filipino motorists will have to dig a little deeper into their pockets as local oil companies announce another hike in pump prices effective Tuesday. In separate announcements, spokesmen for the oil firms said the upward price adjustment will take effect at 6 a.m. on August 28. According… Read More
DOF submits remaining tax reform packages to Congress
August 27, 2018, 6:27 pm
MANILA -- The Department of Finance (DOF) has made good on its commitment to submit to the Congress the remaining packages of the Duterte administration’s comprehensive tax reform program (CTRP), whose overriding goal is to make Philippine taxation fully transparent, more efficient and a lot… Read More
DICT to seek UNDP aid to rollout free Wi-Fi nationwide
August 27, 2018, 5:03 pm
MANILA -- The Department of Information and Communications Technology (DICT) will seek the assistance of the United Nations Development Program (UNDP) to deliver free Internet service throughout the country through its free Wi-Fi program. This developed as the DICT stressed that government should… Read More
