Business
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
Peso firms up, stocks sink deeper into bear territory
June 21, 2018, 7:32 pm
MANILA -- While the Philippine peso was regaining strength against the greenback on Thursday, local stocks continued their decline, plunging more than 2 percent, sinking deeper into bear territory. The local unit rose from a 12-year low to close at 53.46 from the 53.48 finish on Wednesday. It… Read More
MyPhone to launch e-marketplace for Filipino brands
June 21, 2018, 7:22 pm
MANILA -- Local phone brand MyPhone is set to launch next month an all-Filipino brand online marketplace that is built-in on its new phone models. MyPhone President and Chief Executive Officer David Lim told reporters on Thursday at the sidelines of the launch of Brand Pilipinas, an advocacy to… Read More
Eagle Cement eyes 78% capacity rise by 2020
June 21, 2018, 6:12 pm
MANILA -- Eagle Cement Corp. is working on its fourth cement production plant in Malabuyoc, Cebu to meet rising demand, aiming to lead the industry in terms of capacity by 2020 after posting a record profit last year. “By 2020, Line 4 (Cebu) completion will raise production capacity to 9.1… Read More
Proposed PH export plan backs PDP 2017-2022 target
June 21, 2018, 5:59 pm
MANILA -- The National Economic and Development Authority (NEDA) said the proposed plan to boost the country’s exports will ensure that the targets under the Philippine Development Plan (PDP) 2017-2022 are met. The Economic Development Cluster (EDC) endorsed last Thursday the Philippine Export… Read More
64-B-yen Japan-funded projects awarded to PH during Duterte admin
June 21, 2018, 3:27 pm
MANILA – The government of Japan has awarded more than 64.52 billion yen or more than PHP31.29-billion worth of projects to the Philippines in the first two years of the Duterte administration. A presentation by the Philippine delegation during the 5th Japan-Philippines High-Level Joint… Read More
Further rate hikes seen to ease peso depreciation
June 21, 2018, 3:05 pm
MANILA -- An economist from the Manila office of Dutch banking group ING expects that the Monetary Board (MB) of the Bangko Sentral ng Pilipinas (BSP) will implement two policy interest rate increases next year, particularly aimed at taming the peso's depreciation. “We think another rate hike is… Read More
SEC approves NLEX’s P25-B shelf registration
June 21, 2018, 9:19 am
MANILA -- The Securities and Exchange Commission (SEC) has approved the shelf registration of NLEX Corporation for fixed-rate bonds worth PHP25 billion, which it will offer in several tranches within three years. In a document released Wednesday by SEC, NLEX’s initial issue will be worth PHP4… Read More
Ayala Land luxury unit eyes P3-B sales from Davao project
June 21, 2018, 7:44 am
MANILA -- Luxury developer Ayala Land Premier (ALP) targets to book close to PHP3 billion in sales from the soon-to-launch second phase of its premium residence project in Davao City, after it has been emboldened by the success of its first phase. ALP Head of Sales and Marketing Paolo Viray said… Read More
DA offers easy access loan for farmers, fishermen
June 20, 2018, 8:35 pm
CEBU CITY -- The Department of Agriculture (DA) has called upon small farmers and fishermen to avail of its easy access loan program to help them improve their productivity. Dr. Gerry Avila, DA-7’s (Central Visayas) Agribusiness and Marketing Assistance Division chief, said Wednesday the program… Read More
PCC to draft list of fair competition violators
June 20, 2018, 8:30 pm
MANILA -- The Philippine Competition Commission (PCC) announced that it will soon generate a list of industries within the manufacturing sector that violate laws on fair competition. In an interview on Wednesday, PCC chairman Arsenio Balisacan said the agency, with its limited manpower and… Read More
Peso weakens further; bearishness takes over bourse
June 20, 2018, 8:27 pm
MANILA -- The Philippine peso, hovering around a 12-year low, weakened further against the greenback, while the local stock market slipped deeper into bear-market territory on Wednesday. The local unit closed today's session at 53.48 against the greenback, 4 centavos weaker than yesterday's finish… Read More
