Business
BCDA looking into expanding gov’t center in Clark
July 4, 2018, 7:30 pm
CAPAS, Tarlac -- The Bases Conversion and Development Authority (BCDA) is looking into expanding the National Government Administrative Center (NGAC) at New Clark City, its president and chief executive officer Vivencio Dizon revealed. In a press conference for the “Build, Build, Build”… Read More
DTI spearheads Sandugo trade fair in Bohol
July 4, 2018, 5:43 pm
CEBU CITY -- The Department of Trade and Industry's Central Visayas office (DTI-7) announced that all is set for the staging of the Sandugo Trade Expo 2018, a meet-and-match event which aims to connect exporters with potential suppliers. DTI Regional Director Asteria Caberte told reporters… Read More
One-stop processing venue for food safety certification pushed
July 3, 2018, 9:24 pm
MANILA -- A study of state think tank Philippine Institute for Development Studies (PIDS) is pushing for the creation of a one-stop processing venue for the various certifications required by food safety regulatory agencies (FSRAs) in a bid to streamline regulatory procedures in the food sector.… Read More
Trans-Asia deal voided; Chelsea-2Go transaction cleared
July 3, 2018, 8:10 pm
MANILA -- The Philippine Competition Commission (PCC) nullified the acquisition by Chelsea Logistics Holdings Corp. of Trans-Asia Shipping Lines and imposed a PHP22.8M fine for failure to notify the antitrust commission about the transaction in December 2016. The nullification of the Trans-Asia… Read More
Century Pacific sets P1.8-B capex for expansion
July 3, 2018, 8:08 pm
MANILA -- Canned food manufacturer Century Pacific Food Inc. (CNPF) announced that it has earmarked a capital expenditure of up to PHP1.8 billion this year mainly to expand its production capacity and grow the business by 10 to 15 percent. CNPF Executive Chairman Christopher Po said the company is… Read More
S&P: 6.5% or higher GDP growth ‘very easily achievable’
July 3, 2018, 8:06 pm
MANILA -- Credit rating agency S&P Global Ratings has a bright outlook for the Philippine economy as demographics and economic policy remain conducive to the advancement of the country’s gross domestic product (GDP). In a webcast Tuesday, S&P Asia Pacific Economist Vincent Conti said GDP growth… Read More
BTr rejects T-bond anew as yield reaches 7.625%
July 3, 2018, 8:02 pm
MANILA -- The Bureau of Treasury (BTr) has again rejected all bids for the PHP15-billion Treasury bond (T-bond) on Tuesday as interest rate for the 10-year security spiked to 7.625 percent. “The auction committee decided to reject all tenders for the third reissuance of the 10-year T-bond with… Read More
MPTC raises stake in Indonesian infra firm
July 3, 2018, 7:59 pm
MANILA -- The tollways arm of Metro Pacific Investments Corporation (MPIC) has acquired more shares in Indonesian infrastructure firm, PT Nusantara Infrastructure Tbk, with an additional PHP597.33 million, as it expands presence in Indonesia. Metro Pacific Tollways Corp. (MPTC), through its… Read More
BSP celebrates silver anniversary
July 3, 2018, 6:09 pm
MANILA -- Since its establishment in July 3, 1993, a quarter of a century ago, the Bangko Sentral ng Pilipinas (BSP) has taken pride in making the country’s banking system solid and stable, while ushering the Philippines to its current robust economic growth. BSP’s policy has helped the… Read More
DOF forecasts June inflation at 4.9%
July 3, 2018, 5:36 pm
MANILA -- The Department of Finance (DOF) sees inflation increasing even further to 4.9 percent in June, from the 4.6 percent figure posted in May. In the DOF economic bulletin released on Tuesday, food and non-alcoholic beverages as well as alcoholic beverages and tobacco items are seen to have… Read More
Peso seen within target range this year
July 2, 2018, 8:42 pm
MANILA -- The peso’s depreciation against the dollar is no cause for alarm, as its average rate is expected to remain within target range for the year of up to 52 to 53 to the dollar, according to a ranking National Economic and Development Authority (NEDA) official. “We are looking at the… Read More
DOST-CAR sustains support for MSMEs
July 2, 2018, 8:03 pm
LA TRINIDAD, Benguet -- The Department of Science and Technology (DOST)-Cordillera on Monday said it approved 44 projects under its Small Enterprise Technology Upgrading Program (SETUP) for the first semester in recognition of the crucial role of micro, small and medium enterprises (MSMEs) towards… Read More
Megaworld opens 17th lifestyle mall
July 2, 2018, 8:01 pm
MANILA -- Property developer Megaworld Corp. has just inaugurated a PHP2.2-billion lifestyle mall in its Iloilo Business Park township, its first in the Visayas and Mindanao areas. “We are pioneering the ‘lifestyle mall’ concept in Western Visayas with the opening of Festive Walk Mall,”… Read More
Pump prices to go up again Tuesday
July 2, 2018, 6:45 pm
MANILA -- A week after implementing a substantial rollback, oil firms will once again turn the tables on the consuming public with another oil price hike on Tuesday, July 3. In separate text messages to journalists, major as well as independent oil companies announced a PHP0.65/liter increase in… Read More
T-bills auction gains mixed results
July 2, 2018, 6:43 pm
MANILA -- The Bureau of Treasury (BTr) has awarded the 91-day Treasury-bill (T-bill) in full, while it will only make partial issuance of the 182- and 364-day securities, after rejecting some bids. In Monday’s auction, the PHP4-billion 91-day T-bill fetched an interest rate of 3.404 percent.… Read More
Megawide eyes new contracts worth P24-B this year
July 2, 2018, 5:52 pm
MANILA -- Diversified engineering and infrastructure conglomerate Megawide Construction Corp. targets to secure PHP24 billion worth of new contracts this year, optimistic about its continued business expansion, driven by the country’s economic growth and infrastructure development push. Megawide… Read More
DBCC keeps medium-term growth target at 7-8%
July 2, 2018, 5:31 pm
MANILA -- The Development Budget Coordination Committee (DBCC) remains optimistic that the projected seven to eight percent medium-term economic growth for the country is still attainable. The Duterte administration’s economic managers remain positive that the gross domestic product (GDP) will… Read More
DICT sets consultation for entry of 3rd telco player
July 2, 2018, 5:28 pm
MANILA -- The Department of Information and Communications Technology (DICT) announced that it will hold public consultations on its draft terms of reference (TOR) for the entry of a new telecommunications player on July 6, 2018. In an advisory to media Monday, the DICT said that the consultations… Read More
Gov’t sets P3.8-T disbursements for 2019
July 2, 2018, 3:11 pm
MANILA -- The Development Budget Coordination Committee (DBCC) announced on Monday that the government’s disbursement program next year is at PHP3.8 trillion and will be expanded to PHP5.362 trillion in 2022. In a press conference following the 173rd DBCC Meeting, Department of Budget and… Read More
PH manufacturing posts solid growth in June
July 2, 2018, 1:44 pm
MANILA -- The country’s manufacturing sector continued its expansion all the way to the close of the first semester, the Nikkei Philippines Manufacturing Purchasing Managers’ Index (PMI) of IHS Markit reported Monday. Although manufacturing PMI slid to 52.9 in June from 53.7 index in May, the… Read More
