Business
Security Bank to close most branches on Labor Day
April 27, 2018, 9:25 pm
MANILA -- Almost all branches of Security Bank will be closed on May 1, 2018 in line with the Labor Day holiday, the bank's management announced Friday. In an advisory, the bank said only its branches at the Ninoy Aquino International Airport (NAIA) and NAIA Terminal 3 will be in operations… Read More
S&P upgrades DBP's rating outlook to 'Positive'
April 27, 2018, 9:23 pm
MANILA -- Credit rater Standard & Poor’s (S&P) has also revised its ratings outlook on state-owned Development Bank of the Philippines (DBP) from Stable to Positive at the heels of the same decision on the sovereign Thursday. In a statement Friday, it also affirmed the bank’s long-term issuer… Read More
SoKor businessmen bouyed by summit, call NoKor for more cooperation
April 27, 2018, 9:19 pm
SEOUL -- About a dozen South Korean businessmen who had operated factories in North Korea erupted in cheers on Friday as they watched a live broadcast of a historic handshake between the leaders of the two rival Koreas ahead of their summit. The emotional reaction underscored expectations among… Read More
BDO hikes LTNCD offering
April 27, 2018, 7:08 pm
MANILA -- Sy-led BDO Unibank Inc.(BDO) has raised to P8.2 billion from an earlier P5 billion, the offering of its 5.5 years Long-Term Negotiable Certificates of Deposit (LTNCD) on the back of strong demand. In a disclosure with the Philippine Stock Exchange (PSE) Friday, the bank said… Read More
PH-Kuwait tiff wont affect economy: biz leaders
April 27, 2018, 7:06 pm
MANILA -- Leaders of the Philippines' most influential business groups agree that the current soured relations between Manila and Kuwait is likely to be short-lived and that it is unlikely to produce an economic backlash. The row between the two nations began after Philippine embassy personnel… Read More
Measures to ease doing business now in place: Lopez
April 27, 2018, 5:47 pm
MANILA -- The government has introduced a series of red-tape cutting measures to make it easier for investors to do business in the Philippines, the Department of Trade and Industry (DTI) said. In a statement Thursday, trade and industry Secretary Ramon Lopez said these mechanisms were presented… Read More
S&P revises ratings outlook on PH from Stable to Positive
April 27, 2018, 8:34 am
MANILA -- Debt rater S&P Global Ratings has revised to Positive from Stable its ratings outlook on the Philippines after citing the country’s continued strong external position and improving policy-making, which led to sustained improvement of its fiscal position and domestic growth, among… Read More
Inflationary effect of expanded tax reform already factored in by BSP
April 26, 2018, 8:36 pm
MANILA -- Analysts are not too worried about the uptick in prices that would almost certainly follow the second phase of government’s tax reform program amid jitters that it would push inflation past the 2 percent to 4 percent target for the 2018-2019 period. Officials of the Bangko Sentral ng… Read More
BSP extends separate SBL for SPEs in priority infra projects
April 26, 2018, 8:14 pm
MANILA -- Bangko Sentral ng Pilipinas' (BSP) policy-making Monetary Board (MB) has approved a separate single borrower's limit (SBL) for special purpose entities (SPEs) that will take part in the "Build, Build, Build" program, in an apparent bid to lend financial support to government's ambitious… Read More
PH-UK joint venture seeks to upgrade Iloilo port
April 26, 2018, 8:10 pm
MANILA -- The British Chamber of Commerce Philippines (BCCP) announced that a United Kingdom-based firm in partnership with local terminal operations specialists have come together to signify their interest in developing Dumangas Port in the province of Iloilo. Seasia Logistics Philippines, Inc.… Read More
Russian firms seek business opportunities in PH
April 26, 2018, 8:01 pm
MANILA -- The Department of Trade and Industry (DTI) said Russian companies are on the lookout for opportunities in the Philippines particularly in the sectors of transport infrastructure, aerospace, iron and steel, automotive, power generation equipment, minerals processing, and agriculture. The… Read More
Metrobank board okays issuance of up to P25-B LTNCD
April 26, 2018, 6:00 pm
MANILA -- The Metropolitan Bank & Trust Company (Metrobank) on Thursday announced that its Board of Directors has approved the issuance of up to PHP25 billion worth of 5.5-10-year Long Term Negotiable Certificates of Time Deposits (LTNCD). In a disclosure with the Philippine Stock Exchange (PSE),… Read More
DA, Customs foil onion smuggling
April 26, 2018, 1:13 pm
MANILA -- The Department of Agriculture (DA) and the Bureau of Customs, acting on a tip, foiled the smuggling of onions worth PHP34 million last Monday. The smuggled onions could have affected the livelihood of thousands of onion farmers if it had flooded the market, Agriculture Secretary Emmanuel… Read More
Gov’t support sought to grow clinical research in PH
April 25, 2018, 8:16 pm
MANILA -- Prospects for the Philippines' clinical research sector is expected to remain rosy in years to come, but government support is imperative to boost business, a Fitch Group unit said in its study. BMI Research said Wednesday that clinical research activities in Asia Pacific will be on the… Read More
GCG to ensure state firms do not compete with private sector
April 25, 2018, 8:11 pm
MANILA -- The Governance Commission for GOCCs (GCG) vowed to work closely with concerned government agencies in reviewing the mandates of government-owned and controlled corporations (GOCCs) to ensure a level playing field is maintained and that they do not directly compete with the private… Read More
SMIC to spend P90B for expansion in 2018
April 25, 2018, 7:40 pm
MANILA – SM Investments Corporation (SMIC), the holding firm of the Sy family, has allocated a total of PHP90 billion for capital expenditures (capex) this year to support its expansion program as it looks for more emerging business opportunities. SMIC Senior Vice President of Finance Franklin… Read More
Peso little changed, local stocks continue slide
April 25, 2018, 7:03 pm
MANILA -- The Philippine peso ended Wednesday almost unchanged against the greenback but the main stocks index sustained its slide in step with the trend on Wall Street. The local currency finished the day’s trade at 52.31 from the previous session’s 52.32, which a trader said is due to the… Read More
BCCP says easing of retail trade policies will lure more UK brands
April 25, 2018, 6:03 pm
MANILA -- Further liberalizing of the retail sector will attract more brands from United Kingdom to come to the Philippines, British Chamber of Commerce Philippines (BCCP) Chairman Chris Nelson said Wednesday. Nelson told reporters in a briefing that certain British brands have set their sights on… Read More
TDF rates rise across-the-board
April 25, 2018, 5:46 pm
MANILA -- Rates of all tenors of the Bangko Sentral ng Pilipinas’ Term Deposit Facility (TDF) rose Wednesday, even after undersubscription was posted by the 28-day facility. Data released by the central bank showed that rate of the seven-day TDF going up to 3.4397 percent from 3.3967 percent in… Read More
British Chamber applauds TRAIN-2, seeks one-time tax cut
April 25, 2018, 5:02 pm
MANILA -- The British Chamber of Commerce Philippines (BCCP) threw its support to the government’s tax reform program, noting that this will raise the country’s competitiveness in the region. In a media briefing Wednesday, BCCP Chairman Chris Nelson said British firms doing business in the… Read More
