Business
TDF rates up this week
August 22, 2018, 3:42 pm
MANILA -- Impact of the hike in the Bangko Sentral ng Pilipinas’ (BSP) key rates earlier this month continues to produce similar results in other investments such as the central bank’s Term Deposit Facility (TDF), which registered increases in all tenors Wednesday. Data released by the BSP… Read More
DOF firm on hikes in alcoholic beverages taxes
August 21, 2018, 7:42 pm
MANILA -- To further institute reforms in Philippines’ sin taxes and strengthen moves to prevent the poor and young people from taking alcoholic products, the Department of Finance (DOF) is proposing further increase in excise taxes of these products. DOF data show that under the proposed rates… Read More
More hikes in BSP key rates seen this year
August 21, 2018, 6:45 pm
MANILA -- An economist projects further hike in the Bangko Sentral ng Pilipinas’ (BSP) key rates this 2018 if inflation hits 6 percent in the next few months. In a research note, ING Bank Manila senior economist Joey Cuyegkeng said a 6-percent level inflation rate is possible “in the next two… Read More
Fixed exchange rate dangerous for PH: Espenilla
August 21, 2018, 2:21 pm
MANILA -- Some people have questioned the market-determined exchange rate policy of the Bangko Sentral ng Pilipinas (BSP), especially now that the local unit has been posting weakness against the US dollar. However, monetary officials have repeatedly said that the current exchange rate policy of… Read More
Peso stays strong, local shares shed on profit-taking
August 20, 2018, 8:49 pm
MANILA -- The Philippine peso finished Monday strong against the US dollar while the Philippine Stock Exchange index (PSEi) fell on profit-taking. Easing of concerns on developments in Turkey allowed the local currency to finish the day at 53.38 at the start of this week from 53.425 close Friday… Read More
Gas prices to go up Tuesday
August 20, 2018, 8:32 pm
MANILA -- Local oil companies are again poised to raise the price of unleaded gasoline effective 6 a.m. Tuesday, August 21. In separate announcements, oil firms said that their gasoline products will increase by a moderate PHP0.30 per liter. There will, however, be a PHP0.20 per liter decrease in… Read More
June borrowing up 224.87% year-on-year
August 20, 2018, 8:29 pm
MANILA -- Borrowings by the Philippine government surged to PHP153.291 billion in June 2018 due to the issuance of retail treasury bonds (RTB). Bureau of the Treasury (BTr) data showed that last June’s borrowing is 224.87 percent higher than the PHP47.185 billion in June 2017, and is more than… Read More
PCC: New telco must stay away from PLDT, Globe
August 20, 2018, 8:28 pm
MANILA -- A prospective new telco player should keep a safe distance from the industry's existing duopoly. This was the stand of the Philippine Competition Commission (PCC) on the latest terms of reference by the Department of Information and Communications Technology (DICT), which utilizes the… Read More
Overall BOP position posts lower deficit of USD455-M in July
August 20, 2018, 8:16 pm
MANILA -- The country’s overall balance of payments (BOP) position in July 2018 posted a deficit of USD455 million, lower than the USD678-million BOP deficit recorded in the same month last year. Outflows in July 2018 stemmed mainly from payments made by the national government for its maturing… Read More
Shift to Euro-2 diesel not environmentally sustainable: DOTr
August 20, 2018, 7:28 pm
MANILA -- The Department of Transportation (DOTr) opposes a directive of the Department of Energy (DOE) for oil companies to offer Euro-2 compliant diesel at fuel stations to mitigate the impact of the recent series of oil price increases to motorists. The DOTr said DOE Memorandum Order No.… Read More
PH T-bill rates down on Monday
August 20, 2018, 6:16 pm
MANILA -- The rates of Philippine Treasury bills (T-bills) fell across-the-board Monday, which National Treasurer Rosalia De Leon traced to “healthy demand” and “strong liquidity” of the system. Rate of the bellwether 91-day paper dropped by 4.1 basis points to 3.203 percent from last… Read More
Biz group asks gov't to fast-track NAIA upgrade
August 20, 2018, 5:34 pm
MANILA -- The Management Association of the Philippines (MAP) urged the government to hasten the upgrading of Ninoy Aquino International Airport (NAIA), saying that ceasing its operations should never be an option. In a statement Monday, MAP noted that NAIA is a critical gateway of the country,… Read More
PH exporters target Brunei Halal market
August 20, 2018, 4:51 pm
MANILA -- The Export Marketing Bureau (EMB) led a delegation of manufacturers of halal products to Brunei Darussalam with hopes of tapping the thriving market there. Some nine Filipino exporters recently joined the Brunei Halal Showcase on August 8-12 at the International Convention Center in… Read More
Cagayan airport soon open to commercial flights
August 20, 2018, 4:31 pm
MANILA -- The Cagayan Economic Zone Authority (CEZA) announced on Monday that the Cagayan North International Airport (CNIA) will be open to commercial flights after receiving the accreditation from the International Civil Aviation Organization (ICAO) and International Air Transport Association… Read More
BOC discovers another illegal cigarette factory in Nueva Ecija
August 20, 2018, 3:14 pm
MANILA -- The Philippine government scored another victory against the counterfeit cigarette industry after the discovery of an illegal manufacturing facility in Gapan, Nueva Ecija, leading to the arrest of 16 Chinese nationals. In a report to Finance Secretary Carlos Dominguez III, Customs… Read More
PH officials Beijing-bound to discuss China-supported infra projects
August 20, 2018, 1:58 pm
MANILA -- Philippine and Chinese officials are set to meet in Beijing this week to continue discussions concerning the Duterte administration’s “Build, Build, Build” infrastructure projects that China has committed to support through Official Development Assistance (ODA) loans and grants.… Read More
Tariff reduction may not ease inflation
August 19, 2018, 3:13 pm
MANILA -- Trade Secretary Ramon Lopez admitted that reducing tariff rates on some imported products may not help in easing price pressures. Lopez said the meeting last week of the Committee on Tariff and Related Matters (CTRM) has concluded that most of the agricultural products imported by the… Read More
GOCC remittances fueling infra, social services spending
August 17, 2018, 9:49 pm
MANILA -- Finance Secretary Carlos Dominguez III said in a statement on Friday that record remittances from 54 government-owned and -controlled corporations (GOCCs) will go a long way in helping the Duterte administration hold down deficits and sustain its aggressive spending on infrastructure and… Read More
Rizal, Laguna, Davao del Norte lead most competitive provinces list
August 17, 2018, 9:37 pm
MANILA -- Rizal province was named the country's most competetive province for a third year in a row during the 6th Regional Competitiveness Summit held at the Philippine International Convention Center (PICC), Pasay City on Thursday. Laguna and Davao del Norte took the second and third spots… Read More
APEC economies make headway on regional structural reform: review
August 17, 2018, 9:34 pm
SYDNEY -- Asia-Pacific Economic Cooperation- (APEC) member economies continue to make progress in implementing structural reforms across the region, a review released on Friday concluded. A mid-term review was conducted by the APEC Policy Support unit to assess the structural reforms being… Read More
