Business
Indonesia firm eyes to operate in PH as TNC : LTFRB
May 7, 2018, 8:11 pm
MANILA -- Indonesian ride-hailing firm Go Jek has expressed its interest to operate in the Philippines as a transportation network company (TNC), according to an official of the Land Transportation Franchising and Regulatory Board (LTFRB). “Go Jek is interested to enter and provide TNVS… Read More
Current inflation level not expected to curtail growth
May 7, 2018, 4:45 pm
MANILA -- The current inflation level, which grew to 4.5 percent in April, is not expected to significantly impact the country’s economic growth in the near term, IHS Markit Chief Economist Rajiv Biswas said. In an e-mail Monday, Biswas said gross domestic product (GDP) for the first quarter of… Read More
Dominguez urges insurance sector to lead 4th industrial revolution
May 7, 2018, 4:42 pm
MANILA -- The insurance industry should assume a leadership role in the Fourth Industrial Revolution, given that it is among the most closely regulated industries that would also benefit the most from the technology-driven change now seizing the global economy, according to Finance Secretary… Read More
Motorists to enjoy modest oil price rollback
May 7, 2018, 4:31 pm
MANILA -- Filipino motorists will wake up to modestly lower oil prices on Tuesday (May 8) after oil firms announced that they will be implementing another rollback in the prices of their products. The prices of both unleaded gasoline and diesel will be rolled back by 30 centavos per liter,… Read More
ADB targets for universal energy access by 2030
May 7, 2018, 3:00 pm
MANILA -- The Asian Development Bank (ADB) aims for the total electrification of nations in the region or "universal energy access" by 2030 if not sooner, Yongping Zhai, ADB technical advisor for Energy said at the Bank's recently-concluded 51st annual meeting held at its headquarters in Ortigas… Read More
World Bank: 1 in 3 Filipinos has financial accounts
May 6, 2018, 4:42 pm
MANILA -- Over a third of Filipinos aged 15 and above owns a formal account, according to the 2017 Global Findex published by the World Bank, the latest edition of the world’s most comprehensive database on financial inclusion. Data showed that 34.5 percent of Filipino adults have a formal… Read More
ADB finances USD17-B projects in ASEAN countries
May 6, 2018, 12:41 pm
MANILA -- The Asian Development Bank (ADB) has poured in USD16.5 billion as of February this year for developmental projects in ASEAN member states. This amount has financed 159 projects in Southeast Asia aiming to address the rising inequality in the region, narrowing infrastructure investments… Read More
PH urges ADB to help ‘future-proof’ economies vs technological change
May 5, 2018, 10:26 pm
MANILA -- Finance Secretary Carlos Dominguez III on Saturday urged the Asian Development Bank (ADB) to assist its Asia-Pacific member countries in future proofing their economies against the impacts of rapid advances in digital technologies. “There is a need to future-proof our economies so that… Read More
ADB to stir up private-sector financing of more Asia-Pacific infra
May 5, 2018, 9:58 pm
MANILA -- The Asian Development Bank (ADB) will work with Asia-Pacific countries, including the Philippines, to build more quality infrastructure and other development projects in partnership with the private sector. This is to support inclusive and sustainable growth momentum, the regional… Read More
PH, SoKor sign USD1-B soft loan deal for infra
May 5, 2018, 4:35 pm
MANILA -- The Korean Embassy in Manila said over the weekend the Korean government is funding most of the USD199-million New Cebu International Container Port Project through an official development assistance (ODA) recently clinched with the Philippine government. The Philippine and South Korean… Read More
Asian business leaders rally behind women empowerment
May 4, 2018, 10:13 pm
MANILA -- Asian Development Bank (ADB) President Takehiko Nakao is rallying for women empowerment in business, saying this has been among the bank's agenda. "How can women do as much as men can do, or even better?" he asked in a seminar during the 51st ADB annual meeting at the ADB headquarters in… Read More
ASEAN+3 vows to strengthen regional financial cooperation
May 4, 2018, 10:11 pm
MANILA -- The 10 member states of the Association of Southeast Asian Nations (ASEAN) joined by China, South Korea and Japan (ASEAN Plus Three) have agreed to further strengthen the multilateral currency swap arrangement to enable members overcome crisis more speedily and promote sustained economic… Read More
Improving education system to boost Asia's competitiveness in ICT
May 4, 2018, 9:46 pm
MANILA -- Strengthening the education system will help enhance the competitiveness of countries in Asia in the field of information and communications technology (ICT). Department of Finance (DOF) Secretary Carlos Dominguez III said that education will play a critical role in helping people adapt… Read More
BPI holds bell ringing ceremony for P50-B stock rights offer
May 4, 2018, 9:22 pm
MANILA -- Bank of the Philippine Islands (BPI) has listed 558,659,210 new common shares valued at PHP50 billion, or PHP89.50 per share, after a bell-ringing ceremony Friday at the Philippine Stock Exchange. The new shares were issued to shareholders on record, with a ratio of 1:7.0594, or 1 new… Read More
PH plays key role in ‘just transition’
May 4, 2018, 8:27 pm
MANILA -- The Asian Development Bank (ADB) and the United Nations International Labour Organization (ILO) jointly said the Philippines is playing a key role in pursuing “just transition” -- which is ILO's policy framework on sustainable development, decent work, and green jobs. In a high-level… Read More
Bulacan int’l airport to boost tourism says SMC president
May 4, 2018, 8:21 pm
MANILA -- San Miguel Corp. (SMC) president and chief operating officer Ramon Ang on Friday expressed optimism the completion of the envisioned PHP735.6-billion international airport in Bulacan province could boost foreign tourist arrivals in the country that would be at par with those of Southeast… Read More
Inflation to normalize towards year end: NEDA
May 4, 2018, 8:18 pm
MANILA -- The National Economic and Development Authority (NEDA) expects the current surge in inflation, which is due in part to an overhaul in the taxation system, to be temporary and will normalize towards the end of the year. “The current surge in inflation is partly an initial reaction to… Read More
BSP approves IRR of credit card law
May 4, 2018, 8:13 pm
MANILA – The Monetary Board, the policy-making body of the Bangko Sentral ng Pilipinas (BSP), has approved the implementing rules and regulations (IRR) of the law regulating the Philippine credit card industry, a move that is expected to put an end to arbitrary impositions by card issuers on… Read More
PH to save 2% of GDP in 5 yrs with nat'l ID: PSA
May 4, 2018, 8:09 pm
MANILA—The Philippine government can save 2 percent of its gross domestic product (GDP) over a five-year period with the implementation of a national identification (ID) system, a top official of the Philippine Statistics Authority (PSA) said on Friday. At the sidelines of a sponsored seminar at… Read More
April inflation at 4.5%
May 4, 2018, 3:50 pm
MANILA -- The consumer price index in April this year further accelerated to 4.5 percent, faster than inflation in March of 4.3 percent and markedly more than April 2017’s 3.2 percent. The Philippine Statistics Authority (PSA) reported Friday that higher price pressure last month can be… Read More
