Business
BSP: Study carefully economic provisions of proposed federalism
August 17, 2018, 7:20 pm
MANILA -- Bangko Sentral ng Pilipinas (BSP) Governor Nestor A. Espenilla Jr. supported calls for a more comprehensive study of the proposed federal constitution to ensure that recent economic gains are sustained, should the shift in the form of government happen. In a forum Friday, the BSP chief… Read More
PH yet to tap EU financing for ‘Build, Build, Build’ program
August 17, 2018, 6:46 pm
MANILA -- The Philippine government has yet to tap development assistance from the European Union (EU) as another source of financing for its massive infrastructure program ‘Build, Build, Build’, the EU envoy said Friday. “It’s not something that the government approached us,” EU… Read More
Security Bank NAIA branches open on Aug. 21
August 17, 2018, 3:47 pm
MANILA -- Branches of Security Bank Corporation (Security Bank) at the Ninoy Aquino International Airport (NAIA) will be open during the national holiday on August 21 this year. Malacanang has declared Tuesday next week a special non-working holiday to commemorate the Ninoy Aquino Day at the same… Read More
CIAP certifies 40 construction supervisors, superintendents
August 16, 2018, 8:12 pm
MANILA -- The Construction Industry Authority of the Philippines (CIAP), an attached agency of the Department of Trade and Industry (DTI), has certified 40 supervisors and superintendents in its pilot training program. Through CIAP’s human resource development arm Construction Manpower… Read More
Diokno denies compromise reached on cash-based budgeting
August 16, 2018, 7:58 pm
MANILA -- Budget Secretary Benjamin Diokno on Thursday denied that a compromise between lawmakers and the Department of Budget and Management (DBM) regarding the cash-based budget implementation in 2019 has been reached. On the sidelines of a hearing at the Senate, Diokno said he has no idea what… Read More
Peso remains firm but local shares slip anew
August 16, 2018, 7:45 pm
MANILA -- Fears of a contagion from the Turkish financial crisis persisted Thursday, erasing the gains of the Philippines Stock Exchange index (PSEi). The Peso, however, hardly budged, finishing the day at 53.44 from 53.47 Wednesday, which a trader said was helped by the improvement of the Chinese… Read More
4 cities outside NCR join PH’s most competitive
August 16, 2018, 7:40 pm
MANILA -- The cities of Davao, Cagayan de Oro, Bacolod, and Cebu are among the 10 most competitive highly-urbanized cities in the Philippines today, according to an annual survey. The Cities and Municipalities Index (CMCI) 2018 showed that the number of cities outside Metro Manila to attain this… Read More
Impact of lowering tariff on food hard to quantify: Guinigundo
August 16, 2018, 6:57 pm
MANILA -- A central bank official on Thursday said it is difficult to determine at this time how lowering the tariff on some food items would impact inflation. The possible lowering of tariffs imposed on select food items, which is now between 10 percent and 40 percent, was raised during the… Read More
Albay solon warns vs. perils of reenacted budget
August 16, 2018, 6:53 pm
LEGAZPI CITY -- A reenacted budget for next year would be a virtual certainty, unless lawmakers and the Duterte administration’s economic team could agree on a common budgetary system for the 2019 National Expenditure Program (NEP), Albay Rep. Joey Salceda said Thursday. Budget Secretary… Read More
Foreign portfolio investments post net inflow in July: BSP
August 16, 2018, 5:58 pm
MANILA -- Registered foreign portfolio investments for the month of July 2018 amounted to USD959 million, reflecting a 5.3 percent improvement from the USD911 million figure in June 2018. Year-on-year, however, a 33.1 percent decline may be noted from the USD1.4 billion level recorded during the… Read More
DTI on federalism: Any form of gov’t can work
August 16, 2018, 5:54 pm
MANILA -- The country’s top trade official believes that any system of government can work for the Philippines as long as it is functional and efficient. On the sidelines of the 6th Regional Competitiveness Summit Thursday, Trade and Industry Secretary Ramon Lopez said he is leaving the… Read More
DTI launches Project One
August 16, 2018, 3:53 pm
MANILA -- The Department of Trade and Industry (DTI) announced that it is in the process of developing an online portal that will provide information about doing business in cities and municipalities around the country. During the 6th Regional Competitiveness Summit in Pasay City Thursday, DTI… Read More
SSS seeks P2.24-M collection from delinquent Bacolod employers
August 16, 2018, 3:12 pm
BACOLOD CITY -- The Social Security System (SSS) expects to collect P2.24 million in contribution delinquencies from 10 employers in this city following its sixth regional Run After Contributions Evaders (RACE) Campaign conducted Thursday, August 16. SSS President and Chief Executive Officer… Read More
Globe system upgrade may affect promos on Aug. 16-17
August 15, 2018, 9:12 pm
MANILA -- Telco firm Globe Telecom advises its subscribers that it will be conducting upgrades on its system from 8 pm of August 16 to 6 am of August 17 which may prevent the registration to certain promos on its prepaid services. “During this time, you might have trouble registering to Globe… Read More
PSEi recovers, PHP holds on amid lingering Turkey jitters
August 15, 2018, 8:41 pm
MANILA -- Bargain hunting allowed the Philippine Stock Exchange index (PSEi) to recover Wednesday and the peso managed to end sideways against the greenback even with risk-off sentiment remaining high still due to Turkey's financial meltdown. PSEi gained 0.18 percent, or 13.14 points, to 7,540.92… Read More
Dominguez bats for effective telco industry regulations
August 15, 2018, 8:29 pm
MANILA -- Finance Secretary Carlos Dominguez III said a strong regulatory environment over the telecommunications industry must first be established before government awards frequencies to a third telco player. “We have to go down to basic issues on the industry,” Dominguez said during the… Read More
TDF rates up across-the-board
August 15, 2018, 8:00 pm
MANILA -- The rates of all tenors of Term Deposit Facilities (TDFs) rose Wednesday following the recent hike in the Bangko Sentral ng Pilipinas’ (BSP) key rates. Data released by the BSP Wednesday showed the rate of the seven-day facility rose by 4.1759 percent from last week’s 3.7797 percent.… Read More
PH keeping deficit-to-GDP ratio target to safeguard credit ratings
August 15, 2018, 6:08 pm
MANILA -- Economic managers are keeping the government’s budget deficit level at 3.2 percent of the gross domestic product (GDP) for 2019, to safeguard the economy’s investment grade credit ratings amid threats of a re-enacted budget. Budget Secretary Benjamin Diokno, in his weekly Breakfast… Read More
DTI calls on small retailers to adopt SRPs voluntarily
August 15, 2018, 4:28 pm
MANILA -- The Department of Trade and Industry (DTI) has launched its Suking Tindahan Program, which aims to introduce the suggested retail price (SRP) system to sari-sari stores. On Wednesday, the DTI Consumer Protection Group (CPG) granted the seal of good housekeeping or the Suking Tindahan… Read More
Economy to grow faster in 2nd semester: Dominguez
August 15, 2018, 3:28 pm
MANILA -- The Department of Finance (DOF) remains optimistic that the economy will grow faster in the year's second half on the back of larger investment inflows and exports, higher infrastructure expenditures, and an improved revenue effort which posted a first-semester performance in 2018 that… Read More