Business
Big oil price hike set Tuesday
May 21, 2018, 9:21 pm
MANILA -- Filipino motorists will have to dig deeper into their pockets after the local oil industry implements yet another significant oil price increase on Tuesday (May 22). This will be the second week in a row when pump prices will go up by more than one peso per liter. Local oil firms, in… Read More
PH banking sector organizes 1st blockchain group
May 21, 2018, 9:18 pm
MANILA -- The country's banking sector is set to spawn its first blockchain-related organization, the Blockchain Association of the Philippines (BAP) next week. The BAP will be led by Union Bank of the Philippines, one of the first enterprises in the country to integrate the blockchain system in… Read More
Peso hits new low, local stocks plunge
May 21, 2018, 8:45 pm
MANILA -- The Philippine peso hit a record-low on Monday, as the Philippine Stock Exchange index (PSEi) followed through on last week's losses. The local unit shed 13.5 centavos to close at 52.465 from last Friday's finish of 52.33, thus suffering the worst loss in 12 years. The weakening peso,… Read More
P2.5-B income eyed from Leyte’s agri program
May 21, 2018, 8:14 pm
TACLOBAN CITY -- The Leyte provincial government is eyeing an annual PHP2.5 billion income from compact farming in 250 villages tagged as priority areas in the production of high value crops.Citing experiences from pilot areas, Leyte Governor Leopoldo Dominico Petilla said a farmers’… Read More
Aboitiz Land to launch 3 residential projects in Luzon
May 21, 2018, 7:53 pm
MANILA -- Aboitiz Land Inc., the property development unit of Aboitiz Group is solidifying its entry into Luzon’s mid-market segment with the launch three residential projects saying that it has earmarked some PHP5 billion this year on capital spending. Aboitiz Land First Vice President of… Read More
Smart posts PHP 14-B in revenues due to robust mobile data services
May 21, 2018, 7:52 pm
MANILA -- Mobile services provider Smart Communications reported that it has managed to post PHP14.8 billion in service revenues for the first quarter of this year higher by 2 percent from the previous year driven by ongoing improvements on its mobile data network. Wireless individual service… Read More
Clark airport O&M contract draws interest from local, foreign firms
May 21, 2018, 5:22 pm
MANILA -- Thirty companies, including European airport operators, have so far manifested serious interest in bagging the operations and maintenance (O&M) contract for the passenger terminals of Clark International Airport. As of posting time, several local and foreign companies have already bought… Read More
P53.42-B needed for Marawi rehab: NEDA
May 21, 2018, 5:20 pm
MANILA -- The government is confident about securing funding to implement the rehabilitation and reconstruction of war-torn Marawi City and other devastated areas nearby, which reportedly requires a budget of PHP53.42 billion over the next five years. Adoracion Navarro, Undersecretary for Regional… Read More
BTr awards shorter tenor T-bills in full
May 21, 2018, 5:18 pm
MANILA -- The Bureau of Treasury (BTr) on Monday awarded both the 91-day and 182-day Treasury bills (T-bills) in full. In an auction, the 91-day T-bill offered at PHP5 billion attracted total bids of PHP16.01 billion, while the 182-day tenor auctioned for PHP4 billion was more than thrice… Read More
DOF eyeing rural banking reforms to lessen 'unbanked' Filipinos
May 21, 2018, 4:30 pm
DAVAO CITY—The Department of Finance (DOF) is pushing a trio of initiatives to enable the rural banking system to meet the challenge of reducing the number of "unbanked" Filipinos, given that this sector is at the frontline of the Duterte administration’s efforts to attain financial inclusion.… Read More
TUCP looks forward to passage of Sotto's 14th month bonus bill
May 21, 2018, 3:18 pm
MANILA -- The Associated Labor Unions-Trade Union Congress of the Philippines (ALU-TUCP) expressed optimism that with the inevitable ascension to the Senate presidency of Sen. Vicente "Tito" Sotto, III, his "pet bill" seeking to make mandatory the 14th month pay bonus for rank-and-file workers in… Read More
Cagayan Valley mushroom R&D center to boost output: DA
May 18, 2018, 8:24 pm
CITY OF ILAGAN, Isabela -- The Department of Agriculture (DA) in Cagayan Valley has pledged to intensify promotion of mushroom production in the region, as it inaugurated here Friday the region’s research and development (R&D) center for the mushroom industry.DA’s Bureau of Agricultural… Read More
Peso, PSEi end the week lower
May 18, 2018, 7:59 pm
MANILA -- Both the Philippine peso and the local stock barometer ended the week in the red as the sluggishness in the local financial and capital markets persisted through Friday trading. The peso ended the day’s trade at 52.33 from Thursday's finish of 52.27. It traded between 52.27 and 52.36,… Read More
PH BOP position posts $270-M deficit in April
May 18, 2018, 7:57 pm
MANILA -- The country’s overall balance of payments (BOP) position in April 2018 posted a deficit of USD270 million, a very notable reversal from the USD917 million BOP surplus recorded in the same month last year. Outflows in April 2018 stemmed mainly from payments made by the National… Read More
Euro tourists told to explore other options after Boracay closure
May 18, 2018, 5:50 pm
MANILA -- Travel agencies organizing packaged tours to the Philippines for the European market have been told to look for other suitable destinations in the country since the closure of Boracay Island, European Chamber of Commerce Philippines (ECCP) President Guenter Taus said. Taus told reporters… Read More
Locally-based euro firms hired more than 800K Filipinos in 40 yrs
May 18, 2018, 4:56 pm
MANILA -- Member companies of the European Chamber of Commerce of the Philippines (ECCP) have created more than 800,000 jobs in the country since its establishment in 1978, its President Guenter Taus said as the influential business group marks its 40th anniversary. In a media event Thursday… Read More
VOICES project seen to boost Nueva Vizcaya’s coffee industry
May 18, 2018, 4:29 pm
TUGUEGARAO CITY -- Government leaders are upbeat that Nueva Vizcaya’s coffee industry will further be boosted commercially with the implementation of the Vibrant Operations of Industry Clusters for Economic Sustainability (VOICES) project in the province. Senior trade and industry development… Read More
Inflation is 'manageable' even with TRAIN: DOF
May 18, 2018, 4:11 pm
MANILA -- The Department of Finance (DOF) called the uptick in inflation that immediately followed the implementation of the Tax Reform for Acceleration and Inclusion (TRAIN) law, "moderate" or at "manageable" levels. According to a statement issued Friday, finance undersecretary and chief… Read More
Old commemorative coins to be demonetized
May 18, 2018, 3:30 pm
MANILA -- Commemorative coins minted from 1974 to 1994 are set to be demonetized, the Bangko Sentral ng Pilipinas (BSP) announced Friday. In a statement, the BSP said that pursuant to a decision by the policy-making Monetary Board, the demonetization process has begun on the "Pilipino”, “Ang… Read More
1K pension hike possible only thru EO or charter change: SSS
May 17, 2018, 10:06 pm
MANILA -- Only through the direct intervension of President Rodrigo Duterte by way of an executive order (EO) or through an act of Congress amending the Social Security Law of 1997 can pensioners hope to receive the one thousand peso monthly pension hike promised them early last year. In a press… Read More
