Business

Private sector partners in gov't infra projects sought

Private sector partners in gov't infra projects sought

July 27, 2018, 8:30 pm

MANILA -- The government expects all regions to submit their endorsed list of projects so it can be determined which among them may be pursued through the public-private partnership (PPP) mode, as the country opens up to private sector participation in infrastructure projects. Adoracion Navarro,… Read More

Globe on track with 5G rollout by 2019

Globe on track with 5G rollout by 2019

July 27, 2018, 8:15 pm

MANILA -- Globe Telecom is gearing up for its deployment of fifth generation (5G) wireless technology by the second quarter of next year amid ongoing improvements of its network. The telco firm said upgrades are currently being done on its network which includes radio, transmission, core, and… Read More

PSEi, PHP ends week up on rate hike expectations

PSEi, PHP ends week up on rate hike expectations

July 27, 2018, 8:09 pm

MANILA -- The Philippine Stock Exchange index (PSEi) rose for the fourth day in a row Friday and the Peso recovered against the US dollar on investors' expectations of more hikes by the Bangko Sentral ng Pilipinas (BSP) on its key rates, among other factors. The main equities index went up by 0.46… Read More

No need to rush TRAIN 2: Solons

No need to rush TRAIN 2: Solons

July 27, 2018, 7:59 pm

MANILA -- Lawmakers say they would rather take their time deliberating over the proposed Tax Reform for Acceleration and Inclusion Package 2 (TRAIN 2) while studying how to improve the country’s tax system. During the Makati Business Club (MBC) Forum Friday, House of Representatives chair for… Read More

PH leaps to 60th spot in Logistics Performance Index

PH leaps to 60th spot in Logistics Performance Index

July 27, 2018, 7:02 pm

MANILA -- The Philippines continues to improve its global ranking with the latest World Bank Logistics Performance Index (LPI) 2018 edition. From 71st spot in 2016, the country leaped to 60th among 160 countries ranked according to their trade logistics performance. “We are now reaping the… Read More

Belle Corp. nets P1.96-B in 6 months

Belle Corp. nets P1.96-B in 6 months

July 27, 2018, 6:55 pm

MANILA -- Property and casino operator Belle Corp. announced Friday that its net income surged 11 percent in the first six months of 2018 on strong revenues from its gaming operations. In a disclosure to the stock exchange, Belle said its consolidated net income reached PHP1.96 billion in January… Read More

PH, US governments getting ready for FTA talks

PH, US governments getting ready for FTA talks

July 27, 2018, 6:49 pm

MANILA -- The Philippine and United States governments are now making internal preparations ahead of formal talks on a possible expansion of trade relations, a senior trade official told reporters Friday. Department of Trade and Industry (DTI) Undersecretary Ceferino Rodolfo said the longtime… Read More

CLI, Ascott to build more serviced residences in VisMin

CLI, Ascott to build more serviced residences in VisMin

July 27, 2018, 3:08 pm

MANILA -- Property developer Cebu Landmasters, Inc. (CLI) on Thursday signed a deal with Singapore-based The Ascott Ltd. (Ascott) to build more serviced residences that would double its hospitality business in the Visayas and Mindanao (VisMin) region in the next five years. In a disclosure to the… Read More

5K jobs seen as Cal-Comp Technology expands in PH

5K jobs seen as Cal-Comp Technology expands in PH

July 27, 2018, 9:20 am

LIPA CITY, Batangas -- New Kinpo Group (NKG), through its Philippine subsidiary Cal-Comp Technology (Philippines), Inc. (Cal-Comp Technology), said it will hire 5,000 Filipinos in the next 12 to 18 months as it moves to expand its operation in the country. The global technology conglomerate, which… Read More

PLDT denies defying DOLE order to regularize workers

PLDT denies defying DOLE order to regularize workers

July 26, 2018, 11:39 pm

MANILA -- Telecommunications firm PLDT Inc. denied that it disobeyed the order of the Department of Labor and Employment (DOLE) to regularize over 7,000 employees. The telco firm said the DOLE clarificatory order to regularize workers without conditions, issued July 11, is invalid as it was not… Read More

Local shares sustain rise, Peso slides on overseas trade jitters

Local shares sustain rise, Peso slides on overseas trade jitters

July 26, 2018, 11:32 pm

MANILA -- The Philippines’ main equities index continued to rise Thursday as investors digest the International Monetary Fund’s (IMF) positive outlook on the domestic economy but the peso went the other way on trade concerns overseas.  The Philippine Stock Exchange index (PSEi) gained 2.02… Read More

DICT to create digital consumer welfare, protection body

DICT to create digital consumer welfare, protection body

July 26, 2018, 8:18 pm

MANILA -- The Department of Information and Communications Technology (DICT) has begun the process of establishing a body that will act on complaints and other concerns of consumers regarding telecommunication services. The department is proposing a Digital Consumer Welfare and Protection Body,… Read More

PH hopes to get at least 100 booths in China expo

PH hopes to get at least 100 booths in China expo

July 26, 2018, 8:15 pm

MANILA -- The country’s delegation to the China International Import Expo (CIIE) still aims to get at least 100 booths for the buying event in Shanghai in November. International Chamber of Commerce Philippines (ICCP) founder and Philippine Chamber of Commerce Industry (PCCI) chairman emeritus… Read More

Ongoing infra projects in ARMM continues even with BOL: NEDA

Ongoing infra projects in ARMM continues even with BOL: NEDA

July 26, 2018, 8:03 pm

MANILA -- Implementation of ongoing infrastructure projects in Autonomous Region in Muslim Mindanao (ARMM) will continue even with the Bangsamoro Organic Law's (BOL) enactment, the National Economic and Development Authority (NEDA) said on Thursday. “Those that are currently ongoing, especially… Read More

DOF cites need for innovation to revive fisheries sector

DOF cites need for innovation to revive fisheries sector

July 26, 2018, 7:09 pm

MANILA -- Innovative ways of aquafarming is needed to ensure adequate supply of fish for Filipino consumers and to prevent fish prices from exacerbating inflation. In an economic bulletin released Thursday, the Department of Finance (DOF) noted the dwindling fish production in the country.… Read More

CEZA issues second license for digital coin trading

CEZA issues second license for digital coin trading

July 26, 2018, 7:01 pm

MANILA -- The Cagayan Economic Zone Authority (CEZA) formally issued on Thursday the provisional license for cryptocurrency exchange operation to Liannet Technology Ltd. This was the second financial technology solutions and offshore virtual currency (FTSOVC) license issued by CEZA since it… Read More

Enough RRR cuts this year: Espenilla

Enough RRR cuts this year: Espenilla

July 26, 2018, 6:54 pm

MANILA -- Bangko Sentral ng Pilipinas (BSP) Governor Nestor A. Espenilla, Jr. says the 200 basis point cut in banks' reserve requirement ratio (RRR) is enough for the year. Espenilla made the pronouncement despite the forecasts of some analysts that said otherwise. The BSP’s policy-making… Read More

Foreign firms want to put up integrated resorts in Cagayan

Foreign firms want to put up integrated resorts in Cagayan

July 26, 2018, 5:52 pm

MANILA -- At least four foreign companies have expressed intention to develop integrated resorts in the province of Cagayan. Cagayan Economic Zone Authority (CEZA) Administrator and Chief Executive Officer Raul Lambino told reporters Thursday that his office received letters of intent from… Read More

Innovation, convenience boost e-payments in PH: survey

Innovation, convenience boost e-payments in PH: survey

July 26, 2018, 5:47 pm

MANILA -- The electronic payment mode continues to grow in popularity as more Filipinos experience the convenience and safety of using this method, a study revealed. Results of the Visa Consumer Payment Attitudes Study, an online survey done in July 2017 and participated in by 500 Filipinos with… Read More

Infrastructure investments remain key priority: ADB

Infrastructure investments remain key priority: ADB

July 26, 2018, 4:25 pm

MANILA -- The Asian Development Bank (ADB) has reaffirmed its commitment to continue supporting infrastructure development in Asia-Pacific countries, including the Philippines, which is deemed key for promoting economic growth and eliminating poverty. The multilateral development bank’s Board of… Read More