Business
Udenna ventures into tourism projects
June 25, 2018, 9:09 pm
MANILA -- Conglomerate Udenna Group is making its foray into the tourism sector with its acquired company, listed Philippine H2O Ventures Corp., in support of the country’s tourism sector. Philippine H2O Ventures, during its stockholders’ meeting on Monday, received approval to change its name… Read More
Guidelines for new telco player to be released this week: DICT
June 25, 2018, 9:07 pm
MANILA -- The Department of Information and Communications Technology (DICT) is set to release within this week the draft terms of reference (TOR) for the entry of the much-awaited third player in the local telecommunications industry. This initiative was done in compliance with the directive of… Read More
Japan extends 1.84-B yen grant aid to PH
June 25, 2018, 9:05 pm
MANILA -- The Japanese government is extending 1.84-billion yen (roughly PHP892.69 million) grant aid to the Philippines for a flood control project in Cagayan de Oro River Basin and for human resource development scholarship. Socio-economic Planning Secretary Ernesto Pernia and Japan… Read More
PCCI tackles government’s shift to federalism
June 25, 2018, 8:47 pm
MANILA -- The country’s largest business organization, the Philippine Chamber of Commerce and Industry (PCCI), called on its membership to put their views on the proposed shift to a federal form of government on the table. PCCI President Alegria Sibal-Limjoco on Monday said it is vital for… Read More
Peso slips further; PSEi breaches 6,900-mark
June 25, 2018, 8:42 pm
MANILA -- The Philippine peso weakened even further against the greenback while the local stock barometer dropped to the 6,900-level on Monday. The peso ended the day’s trade 16 centavos weaker at 53.44 from Friday's finish of 53.28. It opened the day at 53.35 and traded between 53.32 and 53.46.… Read More
SSS runs after delinquent employers in El Nido
June 25, 2018, 8:14 pm
EL NIDO, Palawan -- Social Security System (SSS) President and Chief Executive Officer Emmanuel Dooc on Monday personally issued show cause orders to the allegedly non-compliant proprietors of nine establishments as part of its intensified Run After Contribution Evaders (RACE) campaign. … Read More
Budget deficit climbs in January-May 2018
June 25, 2018, 7:13 pm
MANILA -- The country's budget deficit in the first five months of the current year has more than doubled compared to the same period in 2017, the Bureau of Treasury (BTr) reported Monday. BTr data showed that the national government’s fiscal performance for January to May this year recorded a… Read More
8 MSMEs to get research, production equipment from DTI
June 25, 2018, 7:11 pm
DAGUPAN CITY -- Eight micro small and medium enterprise (MSMEs) organizations in the province will soon receive production and research equipment from the Department of Trade and Industry (DTI) under its Shared Service Facility (SSF) program. DTI Pangasinan Business Development division chief… Read More
Hospital activities sector employs highest number of workers
June 25, 2018, 6:41 pm
MANILA -- Hospital activities registered the highest number of establishments and recorded the largest share in total employment among the human health and social work activities sector, the Philippine Statistics Authority (PSA) reported over the weekend. The preliminary results of the 2016 Annual… Read More
Higher peso rediscount rates effective Monday
June 25, 2018, 4:32 pm
MANILA -- The Bangko Sentral ng Pilipinas (BSP) implemented on Monday (June 25) higher interest rates on peso rediscount facilities, the central bank said in a statement. Loans with maturity between one and 90 days now have an interest rate of 4.0625 percent, while loans with 91- to 180-days… Read More
'Substantial' oil price rollback set Tuesday
June 25, 2018, 3:16 pm
MANILA -- Prices of petroleum products at the pump are set to go down substantially on Tuesday (June 26), representing a complete about face from last week's direction. The oil price rollback will take effect at 6 a.m. on Tuesday, local oil companies announced in separate text messages to… Read More
PSE gets SEC approval for short selling
June 24, 2018, 6:34 pm
MANILA -- The Philippine Stock Exchange, Inc. (PSE) has secured the approval of the Securities and Exchange Commission (SEC) to introduce short selling in the stock market. Short selling is in place in several exchanges and is utilized by investors as a hedging mechanism. Short selling is a… Read More
Quenched, tempered steel safe for high-rise buildings: DTI chief
June 23, 2018, 2:31 pm
MANILA -- Trade Secretary Ramon Lopez has reiterated that there should no longer be any safety issue on the use of quenched and tempered (QT) steel for the construction of high-rise buildings. Lopez made the statement to trade reporters in a text message on Friday, as former senator Nikki Coseteng… Read More
Wholesale prices of goods up in April
June 22, 2018, 10:20 pm
MANILA -- Wholesale prices of goods in the country rose in April, mainly on upticks in the indices of mineral fuels and lubricants, manufactured goods, and food, the Philippine Statistics Authority (PSA) reported Friday. The PSA said the General Wholesale Price Index (GWPI) at the national level… Read More
BPI sets up USD2-B medium-term note program
June 22, 2018, 9:47 pm
MANILA -- Ayala-led Bank of the Philippine Islands (BPI) has successfully established its medium-term note program amounting up to USD2 billion, or its equivalent in other currencies, meant to fund operations. “The Programme, which is expected to be listed on the Singapore Exchange Securities… Read More
Japan plans to provide 42.48-B yen loan to PH
June 22, 2018, 6:55 pm
MANILA -- Japan plans to provide official development assistance (ODA) loans of up to 42.48 billion yen (about PHP20.6 billion) for two infrastructure projects, including upgrading the Metro Rail Transit (MRT) 3 railway in Manila, as it strongly supports the sustainable economic development of the… Read More
Optimism in PH economy remains, bank execs say
June 22, 2018, 5:41 pm
MANILA -- Executives of Asia United Bank (AUB) are still optimistic with the Philippine economy despite the risks and challenges in both domestic and global markets. During its stockholders’ meeting Friday, AUB President Manuel Gomez cited that increasing interest rates and inflation, slowing… Read More
PLDT launches SD-WAN technology to improve data services
June 21, 2018, 10:03 pm
MANILA -- PLDT Enterprise, the digital enterprise arm of PLDT Inc., launched on Thursday its software-defined wide area network technology (SD-WAN) that aims to enable companies to improve the delivery of their data services. The technology will enable enterprise customers to fit their data and… Read More
PH urged to tailor-fit aid to needs of MSMEs, big firms
June 21, 2018, 9:45 pm
MANILA -- The government needs to develop interventions adapted to the specific needs of micro, small and medium enterprises (MSMEs) to encourage them to take risks and innovate, according to a study of the Philippine Institute for Development Studies (PIDS). In a policy note, PIDS senior research… Read More
PH to benefit from LNG dev’t says ADB energy expert
June 21, 2018, 7:38 pm
MANILA -- The Philippines stands to benefit from introducing liquefied natural gas (LNG) to support power generation and making it part of its energy mix, according to an energy sector expert for the Asian Development Bank (ADB). “Right now and the foreseeable future, natural gas and LNG is much… Read More