Business
Market, product diversification to counter protectionism: Guinigundo
May 3, 2018, 5:09 pm
MANILA -- The Philippines should explore other markets and diversify its product lines to shield itself from the effects of trade protectionist policies recently adopted by some countries. On the sidelines of the Institute of International Finance seminar at the 51st Annual Asian Development Bank… Read More
Tech advances threaten jobs, say ADB economists
May 3, 2018, 4:07 pm
MANILA -- Economists from the Asian Development Bank (ADB) on Thursday stressed the need to establish employment security amid technological advancements that all too often result in human labor being supplanted by machines. In a media briefing on the Asian Development Outlook 2018 Report at the… Read More
BOC exceeds April revenue target
May 3, 2018, 3:42 pm
MANILA -- The Bureau of Customs (BOC) made another revenue feat for April as it hit above its collection target by 2 percent. Based on the preliminary data released by BOC-Financial Service, a total of PHP47.394 billion has been collected in April with P930 million in revenue surplus against the… Read More
51st ADB meet opens in Manila
May 3, 2018, 9:52 am
MANILA -- The 51st Annual Meeting of Asian Development Bank’s (ADB) Board of Governors has formally opened Thursday at the ADB Headquarters in Ortigas Center, Mandaluyong City. More than 4,000 participants from public and private sectors from Asia, North America, and Europe are attending the… Read More
Air Asia gives discounts to gov't workers on domestic flights
May 2, 2018, 9:22 pm
MANILA -- Government employees will now earn discounts on their domestic flights as the Department of Budget and Management (DBM) has signed Wednesday a Government Fares Agreement (GFA) with budget air carrier Air Asia Philippines. The agreement will enable government workers to enjoy discounted… Read More
BTr awards P10-B T-bonds in full
May 2, 2018, 7:49 pm
MANILA -- The Bureau of Treasury (BTr) has fully awarded the re-issued PHP10-billion treasury bonds (T-bonds) at average yield of 5.592 percent on Wednesday’s auction. It fetched a total bid of PHP18.9 billion, showing a strong market demand for the T-bonds. “With the auction result,… Read More
Top economists back fiscal perks in TRAIN 2
May 2, 2018, 7:44 pm
MANILA – Economists under the Foundation for Economic Freedom (FEF) have expressed support for the rationalization of fiscal incentives under the proposed second phase of the administration's tax reform program otherwise known as Tax Reform for Acceleration and Inclusion 2 (TRAIN 2). In a… Read More
Peso weakens, local shares dip
May 2, 2018, 7:42 pm
MANILA -- The Philippine peso lost ground against the US dollar on Wednesday while the local stocks barometer also stumbled back to the 7,700 level during midweek trading. The local currency finished the day at PHP51.86, 12 centavos weaker than Monday's PHP51.74. Meanwhile, the Philippine Stock… Read More
BOI, PEZA investment approvals up 53% in Q1
May 2, 2018, 6:05 pm
MANILA -- The value of projects approved by the Philippine government's two investment promotion agencies (IPAs) increased by a substantial 53.2 percent in the first quarter of 2018 relative to the same period last year. Combined investment approvals by the Board of Investments (BOI) and the… Read More
Grab to LTFRB: Hike TNVS units to meet rising passenger demand
May 2, 2018, 4:16 pm
MANILA -- Ridesharing company Grab Philippines is asking for a dialogue with the Land Transportation Franchising and Regulatory Board (LTFRB) to increase the number of transportation network vehicle services (TNVS) units amid increasing passenger demand. Grab said the suspension of the… Read More
'Build, Build, Build' jobs await returning OFWs from Kuwait
May 2, 2018, 3:02 pm
MANILA -- Jobs here at home await returning overseas Filipino workers (OFWs) from Kuwait, particularly those employed in construction, with the government’s Build, Build, Build Program, the chief of the Department of Budget and Management (DBM) said. Budget Secretary Benjamin Diokno said during… Read More
Manufacturing sector on the rise latest PMI shows
May 2, 2018, 2:41 pm
MANILA -- The country’s manufacturing purchasing managers index (PMI), which measures the crucial sector's performance, further rose at the start of the current year's second quarter, IHS Markit reported Wednesday. IHS Markit data showed that manufacturing PMI in April grew to 52.7 from 51.5 in… Read More
Budget reform bill ensures agency accountability: Diokno
May 2, 2018, 2:05 pm
MANILA -- The passage into law of the budget reform bill would enhance accountability of government agencies over the use of public funds with the shift to an annual cash-based budgeting system from a two-year obligation-based budget, Budget Secretary Benjamin Diokno said on Wednesday. During his… Read More
Smart to complete upgrade of QC cell sites
May 2, 2018, 1:24 pm
MANILA -- The management of Smart Communications announced Wednesday that it expects to complete the upgrade of its cell sites in Quezon City within this month. Hopes are high that with the completion, delivery of mobile services in the country's most populous city would improve substantially.… Read More
DBM assures higher UCT, military pension in 2019
May 2, 2018, 12:07 pm
MANILA -- Department of Budget and Management (DBM) Secretary Benjamin Diokno on Wednesday expressed confidence that the budget proposal for 2019 could provide enough funding for the increase in the unconditional cash transfers (UCTs) and pension for military retirees. During the regular forum… Read More
DBM to release P490-M fund for Boracay road rehab
May 2, 2018, 11:26 am
MANILA -- Department of Budget and Management (DBM) Secretary Benjamin Diokno has announced that the national government is releasing PHP490 million for the rehabilitation of the Boracay Circumferential Road. This is on top of the initial budget of PHP50 million allocated under the 2018 fund of… Read More
Meralco Q1 income up 7% at P4.9-B
April 30, 2018, 9:17 pm
MANILA -- Manila Electric Company (Meralco) on Monday announced an unaudited Consolidated Core Net Income for the first quarter of 2018 of PHP4.9 billion or 7 percent higher than the same period last year. The firm's Consolidated Reported Net Income for the first quarter is PHP5.3 billion, 10… Read More
Oil pump prices rise on Labor Day
April 30, 2018, 8:49 pm
MANILA -- Oil firms have announced increase in pump prices effective May 1, Labor Day. Effective 12:01 a.m., Petron will carry a price hike of PHP1.90 per kilogram for liquefied petroleum gas, and PHP1.05 per liter for AutoLPG. Starting 6 a.m., Petron, Jetti, TOTAL, Eastern Petroleum, Phoenix… Read More
Peso, local stocks firm up
April 30, 2018, 8:37 pm
MANILA -- The Philippine peso gained strength against the greenback while the Philippine Stock Exchange index (PSEi) bounced back to the 7,800-mark on Monday, right before the market takes a one-day break for Labor Day. The local currency finished the day's trade at 51.74 from last Friday's… Read More
Link ASEAN e-payment networks: Espenilla
April 30, 2018, 7:55 pm
MANILA -- Bangko Sentral ng Pilipinas (BSP) Governor Nestor Espenilla raised the possibility of linking instant payment networks within member states of the Association of Southeast Asian Nations (ASEAN) to enable cross-border payments, following the launch of the country's second automated… Read More
