Business
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
PH producer prices up 1% in May
July 2, 2018, 6:50 am
MANILA -- Producer prices in the manufacturing sector continued to increase in May, mainly driven by higher selling prices of tobacco and petroleum products, the Philippine Statistics Authority (PSA) reported over the weekend. PSA said the Producer Price Index (PPI) for manufacturing rose 1… Read More
Capital raising at record high in H1
July 1, 2018, 8:07 pm
MANILA -- Capital raised at the Philippine Stock Exchange (PSE) was at a record high of PHP150.01 billion in the first half of 2018. The amount raised in the first six months was 40.5 percent higher than the PHP106.74 billion recorded in the same period last year. The capital raising activities… Read More
D.M. Wenceslao completes P8.1-B IPO
June 29, 2018, 8:38 pm
MANILA -- Integrated property developer D.M. Wenceslao & Associates, Incorporated raised PHP8.1 billion through a successful initial public offering (IPO) on Friday. In a disclosure, D.M. Wenceslao said it sold 679.2 million shares, or 20 percent of its total issued shares at PHP12 per share. The… Read More
DOF: Weakest currencies come from Asia’s fastest growing economies
June 29, 2018, 6:25 pm
MANILA -- The Department of Finance (DOF) sought to allay domestic and foreign investors' fears that the depreciating peso is dragging the national economy down with it. In its economic bulletin released on Friday, DOF data showed that those countries with weakest currency performance this year… Read More
Bank lending growth sustained in May: Espenilla
June 29, 2018, 6:18 pm
MANILA -- Preliminary data show that outstanding loans of commercial banks, net of reverse repurchase (RRP) placements with the Bangko Sentral ng Pilipinas (BSP), grew at a slightly lower rate of 19.4 percent in May from 19.9 percent in April, BSP Governor Nestor Espenilla, Jr. said in a statement… Read More
BSP sees June inflation at 4.3-5.1%
June 29, 2018, 6:16 pm
MANILA -- The Department of Economic Research (DER) of the Bangko Sentral ng Pilipinas (BSP) forecasts that inflation rate this month to settle between 4.3 percent and 5.1 percent. In a statement Friday, the central bank’s think tank has seen price pressures from rice and other agricultural… Read More
PH, PNG ink expanded air connectivity deal
June 29, 2018, 5:28 pm
MANILA -- The skies separating the Philippines and Papua New Guinea just got narrower after a deal effectively bolstering air connectivity between the two countries was signed on Thursday, following two days of talks. The air agreement, which essentially permits more people to fly between the two… Read More
SSS posts P42.57-B in collections in Q1
June 29, 2018, 4:22 pm
MANILA -- The state-run Social Security System (SSS) said collections from its 15.4 million actively paying members amounted to PHP42.57 billion in the first three months of the year, pushing its total revenues for the period to PHP49.72 billion. In a news release issued Friday, SSS President and… Read More
DICT eyes auction of frequencies for 3rd telco player
June 28, 2018, 9:24 pm
MANILA -- The Department of Information and Communications Technology (DICT) proposes an auction of frequency spectrums under a second set of draft guidelines for the selection of the third major player in the local telecommunications industry. In a draft memorandum released Thursday, the DICT… Read More
GT Capital to invest up to USD200-M in Toyota Motor
June 28, 2018, 8:28 pm
MANILA -- Conglomerate GT Capital Holdings Inc. announced that it will invest up to 22.2 billion Japanese yen (USD200 million) in Japanese multinational automotive manufacturer, Toyota Motor Corporation. In a disclosure, GT Capital on Thursday said funding of the transaction will be through debt.… Read More
3.50% interest rate ‘too low’ for PH GDP growth
June 28, 2018, 8:25 pm
MANILA -- BMI Research, Fitch Group's think tank, contends that the current policy interest rates of Bangko Sentral ng Pilipinas (BSP) are still “too low” to propel the country’s gross domestic product upward. BMI Research said the BSP has to keep pace with the rising global interest rates… Read More
Gov’t eyes local projects for PPP mode
June 28, 2018, 8:20 pm
MANILA -- The government is seeking to identify various projects at the local level that can be pursued through the public-private partnership (PPP) mode, with an eye on opportunities they can create for private sector partners. Adoracion Navarro, National Economic and Development Authority (NEDA)… Read More
Gov't revenues grow 19% in January-May: DOF
June 28, 2018, 5:44 pm
MANILA -- National Government (NG) revenues rose by 19.0 percent in the first five months of 2018 as the first phase of TRAIN took effect and tax administration improvements were enhanced, almost doubling nominal GDP growth which registered 9.7 percent during the first quarter, the Department of… Read More
Non-financial corporations account for highest share in GDP
June 28, 2018, 3:37 pm
MANILA -- Non-financial corporations continued to account for the highest share in the country’s gross domestic product (GDP) at 50.4 percent last year, the Philippine Statistics Authority (PSA) reported on Thursday. The PSA said households, including non-profit institutions serving households… Read More
TRAIN revenues broadly in line with forecasts, DOF official says
June 28, 2018, 3:35 pm
MANILA -- The Tax Reform for Acceleration and Inclusion (TRAIN) law is delivering the expected revenues for the national government, an official from the Department of Finance (DOF) said. “TRAIN revenues are broadly in line with projections,” DOF Assistant Secretary Tony Lambino told the… Read More
Basic Energy forays into solar energy abroad
June 27, 2018, 8:34 pm
MANILA -- Basic Energy Corp. (BEC) has signed deals for the purchase of 15-percent stakes in Thailand-based engineering, procurement and construction (EPC) firms, marking its foray into solar energy projects abroad. In a disclosure, BEC on Wednesday said it recently signed share purchase… Read More
