Business
RCEP to boost PH trade, create jobs
July 26, 2018, 2:54 pm
MANILA -- Philippine trade can receive a significant boost from the Regional Comprehensive Economic Partnership (RCEP) trade agreement, creating jobs for more Filipinos, said a ranking Department of Foreign Affairs (DFA) official. “That would mean more jobs because when you trade, you will open… Read More
SME participation in global value chains pushed
July 26, 2018, 2:16 pm
MANILA -- Small and medium enterprises (SMEs) need to find new market niches and consider indirect exporting to enable them participate in the global value chains (GVCs), according to a study by the Philippine Institute for Development Studies (PIDS). A discussion paper titled “Obstacles and… Read More
Infra firm eyeing to become common tower provider
July 26, 2018, 12:23 pm
MANILA -- An infrastructure firm is proposing to build 25,000 towers within seven years in line with a new policy of the Department of Information and Communications Technology (DICT) to establish common towers that may be leased by all telecommunication firms in order to expand their facilities… Read More
TDF posts mix results anew
July 26, 2018, 8:48 am
MANILA -- Continued volatility in the domestic financial market ended in another round of mix results for the Bangko Sentral ng Pilipinas’ (BSP) Term Deposit Facility (TDF) Wednesday. Data released by the central bank showed that the rate of both the seven-day and 14-day facilities went down… Read More
IMF sees sustained growth of PH amid risks
July 26, 2018, 6:34 am
MANILA -- The International Monetary Fund (IMF) remains positive about the sustainability of the Philippine economy's growth amid risks such as rising inflation after noting the monetary and fiscal measures put in place by authorities. In a briefing Wednesday, Luis E. Breuer, Mission head of the… Read More
Proposed one-year validity of budget won't lower gov't spending
July 26, 2018, 6:26 am
MANILA -- Budget and Management Secretary Benjamin Diokno is optimistic that state agencies are ready to implement projects even as allocation for the proposed PHP3.757 trillion 2019 national budget will only have a one-year validity. In the past, funds for a proposed project can be spent beyond… Read More
Peso, local shares rise on IMF's robust eco outlook on PH
July 25, 2018, 11:35 pm
MANILA -- International Monetary Fund’s (IMF) positive outlook on the Philippine economy buoyed both the Philippine Stock Exchange index (PSEi) and the peso Wednesday. PSEi rose for the second day in a row, with the day’s uptick at 0.90 percent, or 66.98 points, to 7,514.00 points. A trader… Read More
Megaworld eyes P7-B sales from Fort Bonifacio residential tower
July 25, 2018, 7:51 pm
MANILA -- Property developer Megaworld Corp. said that it expects to generate PHP7 billion in sales from the second tower of its residential condominium development in Fort Bonifacio. In a disclosure to the local bourse, Megaworld said it introduced to the market Wednesday the 25-storey… Read More
Security Bank, MUFG Bank host Business Matching Fair 2018
July 25, 2018, 7:37 pm
MANILA -- The partnership of Security Bank Corp. and Tokyo-based MUFG Bank, Ltd. successfully hosted a business networking affair for over 400 firms, which, stakeholders say can only strengthen existing ties between Filipino and Japanese enterprises. On Wednesday, Security Bank and MUFG hosted the… Read More
Japanese firms generally optimistic about PH market
July 25, 2018, 6:41 pm
MANILA -- Japanese companies are generally optimistic about the Philippine market but recent developments have given rise to some concerns, both local and Japanese bankers agree. In a media briefing Wednesday, MUFG Bank, Ltd. Managing Executive Officer and Head of Financial Solutions Group Makoto… Read More
Gov’t to pursue 1-form application: Lopez
July 24, 2018, 9:22 pm
MANILA -- Trade Secretary Ramon Lopez said Tuesday that a one-form application process for transactions with government is currently being pursued by various agencies. This is in response to President Rodrigo Duterte’s call to agencies to improve government’s services to the people. “On EODB… Read More
Makati mass transport system proponent ready for Swiss challenge
July 24, 2018, 7:55 pm
MANILA -- IRC Properties Inc., the proponent of the USD3.7-billion Makati mass transport system, said Tuesday it is prepared to participate and face the competitive challenge process for its proposed project after receiving the go-signal from the local government. In a disclosure to the local… Read More
Financial, capital markets inspired by SONA
July 24, 2018, 7:50 pm
MANILA -- Positive sentiments on President Rodrigo R. Duterte’s statements in his third State of the Nation Address (SONA) lifted both the Philippine Stock Exchange index (PSEi) and the peso Tuesday. PSEi recovered and went up 0.95 percent, or 70.22 points, to 7,447.02 points. It was followed by… Read More
PSBank starts LTNCTD offering
July 24, 2018, 7:19 pm
MANILA -- The Philippine Savings Bank (PSBank) on Tuesday began offering its Long-Term Negotiable Certificates of Time Deposits (LTNCTD), with a tenor of five years and six months. In a disclosure with the Philippine Stock Exchange (PSE), the thrift banking arm of the Metrobank Group said the… Read More
Rice tariffication to lower inflation: NEDA
July 24, 2018, 6:08 pm
MANILA -- The enactment and full implementation of the rice tariffication bill can bring down the prices of rice, benefiting Filipino families, Socioeconomic Planning Secretary Ernesto Pernia said Tuesday. In a statement, the National Economic and Development Authority (NEDA) renewed its call to… Read More
CEZA to open 20,000 fintech jobs
July 24, 2018, 4:50 pm
MANILA -- The Cagayan Economic Zone Authority (CEZA) said about 20,000 jobs in financial technology (fintech) will open up as soon as it awards the initial 25 principal licenses to be made available to qualified fintech companies. In a statement Tuesday, CEZA Administrator and Chief Executive… Read More
PH eyes expanded trade, tourism with India
July 24, 2018, 4:13 pm
MANILA -- Philippine Ambassador to India Teresita Daza expects that relations between the Philippines and India will grow as the two countries explore fresh opportunities in trade, education and tourism. Daza said a group of Filipino businessmen visited New Delhi to scout for market opportunities… Read More
DTI, bizmen no to 'illegal' contractualization, yes to outsourcing
July 24, 2018, 3:32 pm
MANILA -- The Department of Trade and Industry (DTI) threw its support to President Rodrigo Duterte's call for legislation that will end labor contractualization, which he reiterated in his third State of the Nation Address (SONA). In a text message to reporters Tuesday, Trade Secretary Ramon… Read More
Grab asks LTFRB to condone P10-M fine
July 24, 2018, 2:30 pm
MANILA -- Ridesharing firm Grab Philippines disclosed on Monday that it has filed a formal appeal to the Land Transportation Franchising and Regulatory Board (LTFRB) to reverse the PHP10-million fine imposed on it as penalty for charging an unsanctioned PHP2 per minute to its customers. Grab said… Read More
Lower interconnection rates to benefit new telco player: PRRD
July 24, 2018, 10:06 am
MANILA -- Lowering interconnection rates of telecommunication firms will help create a competitive environment for a new player to enter the industry and provide services to the public, President Rodrigo R. Duterte said. “We shall, therefore, lower interconnection rates between all industry… Read More
