Business
Peso gains slightly; local stocks end flat
July 9, 2018, 9:16 pm
MANILA — The Philippine peso opened the week stronger against the greenback, while local shares ended little changed on Monday. The local currency finished the day at 53.4 from Friday’s finish of 53.42, data from the Philippine Dealing & Exchange Corp. showed.It opened the day at 53.35 and… Read More
Competitive exchange rate beneficial to PH: Pernia
July 9, 2018, 9:13 pm
MANILA -- Filipinos should not worry about the peso’s depreciation against the US currency as the competitive exchange rate is actually beneficial to the Philippines, Socioeconomic Planning Secretary Ernesto Pernia said in an interview over the weekend. “In fact, it’s oscillating between… Read More
Negros Business Week showcases 30 exhibitors
July 9, 2018, 6:04 pm
BACOLOD CITY -- About 30 exhibitors are featured in the 2018 Negros Business Week, which opened at Robinsons Place Bacolod on Monday. Organized by the Metro Bacolod Chamber of Commerce and Industry (MBCCI), the event, now on its ninth edition, is themed “Government and Business: Partnering for… Read More
Treasury fully awards 91-, 182-day T-bills
July 9, 2018, 5:27 pm
MANILA -- The Bureau of Treasury (BTr) has fully awarded the 91- and 182-day Treasury bills (T-bills) during Monday's auction. The auction committee said both tenors fetched yields lower than the secondary market at 3.308 percent for the 91-day T-bill and at 4.045 percent for the 182-day debt… Read More
Banks to open more jobs despite rapid digitalization
July 9, 2018, 4:44 pm
MANILA -- The Bankers Association of the Philippines (BAP) said banks will continue to hire people despite the rapid digitalization in the sector. In a statement Monday, the organization said the over 12,000 bank offices nationwide continue to open opportunities for entry-level applicants.… Read More
Compliance to EODB law challenges IPOPHL
July 9, 2018, 2:26 pm
MANILA -- The Intellectual Property Office of the Philippines (IPOPHL) finds it challenging to comply with the Republic Act 11032 or the Ease of Doing Business (EODB) and Efficient Government Service Delivery Act of 2018, as its complex transactions take processing time of four to 18 months.… Read More
Malaysian firm to build 12 gov't centers, biz hubs outside Manila
July 8, 2018, 1:38 pm
MANILA -- Malaysian infrastructure firm AlloyMTD Group will pour in PHP18 billion in the Philippines for the construction of government centers and business hubs in provinces across the country. MTD Philippines, Inc. Chairman Isaac David told reporters that the company plans to build government… Read More
TRAIN law beneficial to PH: Pernia
July 8, 2018, 11:51 am
MANILA -- The proposed suspension of the tax reform law could hamper the implementation of the administration’s massive infrastructure and social programs that would benefit millions of Filipinos, the country’s chief economic planner said Friday. Socioeconomic Planning Secretary Ernesto Pernia… Read More
DICT aims to award 3rd telco player by September
July 7, 2018, 10:19 pm
MANILA -- The Department of Information and Communications Technology (DICT) is eyeing the selection of the third major telecommunications player as early as September. But DICT stressed that it will be selecting a firm that has the technical and financial capability to deliver high-quality of… Read More
Globe sets up company for building cell towers
July 7, 2018, 8:59 am
MANILA -- Telecommunications firm Globe Telecom announced that it is in the process of incorporating an independent company that would expedite the installation and deployment of cellular towers to further improve communication services in the country. “As a major industry player, we understand… Read More
Economic expansion puts upward pressure on prices
July 6, 2018, 8:39 pm
MANILA -- Finance Secretary Carlos Dominguez III on Friday said the country’s higher-than-expected inflation rate could have been caused by an expanding economy and robust consumer demand. “While slightly elevated, the inflation rate during the first six months of the year is understandable.… Read More
PEZA okays Palayan City biz hub as IT park
July 6, 2018, 8:15 pm
MANILA -- The Philippine Economic Zone Authority (PEZA) has formally certified the Palayan City Government Center and Central Business Hub (PCBH) as an information technology park, opening up technology-based locators to more government incentives. On Friday, it awarded the certification of… Read More
PH to remain among region's growth leaders
July 6, 2018, 6:59 pm
MANILA -- The Duterte administration’s economic managers remain confident the country is on track towards high economic growth and will continue to be among the growth leaders in the region. Finance Secretary Carlos Dominguez III said government will continue pushing reforms for growth even amid… Read More
Trading week ends with bearishness
July 6, 2018, 6:53 pm
MANILA -- The Philippine peso ended flat against the greenback, while the local stock barometer continued its decline on Friday. The local currency closed the day at 53.42 versus the dollar, unchanged from Thursday's close. It opened the day at 53.41, improving to as much as 53.36 but also slipped… Read More
Mining firm okays expansion of Baguio landfill site
July 6, 2018, 6:51 pm
BAGUIO CITY -- Mining firm Benguet Corp. has agreed to expand by an additional five hectares the property on which it has allowed the government to develop Baguio's engineered sanitary landfill (ESL). With this addition, the area covered by the planned ESL has been expanded to almost 30 hectares.… Read More
Filipinos benefit P32.5-B per month from TRAIN: DOF exec
July 6, 2018, 6:16 pm
MANILA -- Filipinos are reaping the benefits, around PHP32.5 billion per month, due to the implementation of the Tax Reform for Acceleration and Inclusion (TRAIN) law, an official of the Department of Finance (DOF) said. In the Philippine News Agency (PNA) program Pros and Cons, DOF Assistant… Read More
Gov't on track to achieve growth goals: DOF
July 6, 2018, 5:28 pm
MANILA -- Finance Secretary Carlos Dominguez III said Friday that Filipinos have reason to remain confident in the Philippines’ growth story, given that economic indicators point to a positive direction as the Duterte administration continues to “do the right things at the right time.”… Read More
Intellectual property filings grow 14% in Q1
July 6, 2018, 4:15 pm
MANILA -- The Intellectual Property Office of the Philippines (IPOPHL) reported on Friday that applications for securing intellectual property (IP) rights rose 14 percent to 10,024 filings in January to March 2018 from 8,761 applications in the same period in 2017. IPOPHL Director General… Read More
BMI Research: NSFR roll out to ensure PH financial stability
July 6, 2018, 2:29 pm
MANILA -- Implementing the net stable funding ratio (NSFR) under Basel III might hurt both universal and commercial banks in the short term, but will ensure the local banking system's stability in the long run. According to Fitch Group think tank BMI Research, the adoption of the NSFR will make… Read More
Grab gives P70-M subsidy to drivers
July 5, 2018, 8:04 pm
MANILA -- An official of the ride-sharing firm Grab Philippines bared Thursday that the company has provided its drivers about PHP70 million in subsidy in the past two weeks amid the limited supply of its transportation network vehicle services (TNVS) units. The subsidy program, which the company… Read More
