Business
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
Gov't should invest in ICT infra to reskill workforce
May 4, 2018, 3:47 pm
MANILA -- The chief economist of Asian Development Bank (ADB) on Friday said governments should invest heavily in information and communications technology (ICT) infrastructure to enable further training and reskilling of workers amid growing concerns that technology will lead to job losses. In a… Read More
ADB in step with rising income status in SEA
May 4, 2018, 3:41 pm
MANILA --The Asian Development Bank (ADB) is poised to adapt to the changes brought about by rising income levels in Southeast Asian countries and thus, remaining a relevant force in the region. In a media briefing at the 51st Annual ADB Meeting here Friday, ADB Director General for Southeast Asia… Read More
D&L Industries nets P744M in Q1
May 3, 2018, 9:03 pm
MANILA -- Food and chemicals manufacturer D&L Industries posted a 12.3-percent increase in recurring net income in the first quarter of 2018 on the back of higher sales volume. The company reported to the local bourse Thursday that its net income reached PHP744 million in the January to March… Read More
Aboitiz Power Q1 consolidated income down 9%
May 3, 2018, 8:51 pm
MANILA -- Aboitiz Power on Thursday announced that its consolidated net income for the first quarter of 2018 is 9 percent lower from the same period last year. First quarter's consolidated net income slipped to only PHP4 billion from PHP4.4 billion last year. The firm pointed out the non-recurring… Read More
BSP puts premium on consumer protection amid fintech advances
May 3, 2018, 8:47 pm
MANILA -- Bangko Sentral ng Pilipinas (BSP) considers consumer protection paramount in its regulation of the growing financial technology (fintech) industry in the country. During a roundtable discussion on new technologies in finance held on Thursday at the ADB Headquarters in Mandaluyong City,… Read More
BOI okays P196-B projects in Jan-April ‘18
May 3, 2018, 8:39 pm
MANILA -- The Board of Investments (BOI) has approved a total of PHP195.7-billion worth of projects in the January to April period, the investment promotion agency reported Thursday. Investment approvals in BOI in the first four months of the year increased by 28 percent from PHP153.1-billion… Read More
Peso rises, local stocks down again
May 3, 2018, 8:34 pm
MANILA -- The Philippine peso finished stronger against the greenback on Thursday but local stocks went the other direction, falling again by more than 2 percent at the end of the trading session. The local currency closed the day at 51.67 from 51.86 a day ago. On the other hand, the Philippine… Read More
Services, industries propelling PH into upper middle-income status
May 3, 2018, 8:03 pm
MANILA -- The Philippines is on its way to becoming an upper middle-income level economy, Bangko Sentral ng Pilipinas (BSP) Deputy Governor Diwa Guinigundo said at a side event of the 51st Annual Asian Development Bank (ADB) Meeting here Thursday. During the joint seminar of ASEAN+3 Macroeconomic… Read More
Duterte distributes land titles to Hacienda Matias farmers
May 3, 2018, 7:41 pm
MULANAY, Quezon -- President Rodrigo R. Duterte distributed Wednesday certificates of land ownership award (CLOAs) to 386 agrarian reform beneficiaries, effectively transferring to them the ownership of the remaining 654.4082 hectares of the Hacienda Matias in Mulanay, Quezon Province. The… Read More
DOF sees April inflation at 4.5%
May 3, 2018, 7:22 pm
MANILA -- The Department of Finance (DOF) expects inflation for the month of April at 4.5 percent, with "sin products" contributing substantially to the upward price pressure. In its latest economic bulletin, the inflation forecast for April 2018 is higher than the rate registered in last year at… Read More
ADB to fund more projects in Mindanao
May 3, 2018, 7:18 pm
MANILA -- The Asian Development Bank (ADB) announced Thursday that it will finance more projects in Mindanao in support of a sustainable peace and to spur its economic development. “We want to invest more in Mindanao. To sustain peace in Mindanao, we need to develop Mindanao in a broader sense.… Read More
PH seeks ADB support for infra projects
May 3, 2018, 6:21 pm
MANILA -- The Philippine government is seeking further support from the Asian Development Bank (ADB) to advance its infrastructure program, especially for projects that will address Metro Manila's traffic problem, which it says is key to creating jobs and reducing poverty. During the institutional… Read More
Increase in human capital to help Asian seniors get jobs
May 3, 2018, 6:18 pm
MANILA -- Asian countries should invest on education and training programs that will enhance the employment prospects of retirees and other senior citizens who are still willing to work. Increasing human capital will help address the challenge of aging societies in the region, according to… Read More
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
