Business
Lower corporate taxes to lure HK firms to PH
April 24, 2018, 7:09 pm
MANILA -- The lowering of corporate income tax (CIT) rates had been seen to attract more investments from Hong Kong-based companies, Hong Kong Chamber of Commerce of the Philippines, Inc. (HKCCPI) President Anthony Chan said. On the sidelines of the Hong Kong Trade Development Council (HKTDC)… Read More
DBCC adjusts medium-term macroeconomic targets
April 24, 2018, 6:16 pm
MANILA -- Economic managers on Tuesday adjusted some medium-term macroeconomic targets in view of fresh developments in both the domestic and international fronts. In a briefing, Budget Secretary Benjamin Diokno said the peso-dollar exchange rate assumption for 2018-2022 was adjusted upward to… Read More
Oil firms to hike prices Tuesday
April 23, 2018, 9:42 pm
MANILA -- Oil firms will hike pump prices effective 6 a.m. on Tuesday (April 24). Motorists can expect a PHP0.40 per liter increase for gasoline and PHP0.65/liter rise for diesel from Eastern Petroleum and Phoenix Petroleum. Seaoil and Petron will carry the same price adjustments for diesel and… Read More
Local T-bill rates up anew
April 23, 2018, 9:15 pm
MANILA -- Banks continue to prefer shorter-dated Philippine Treasury bills, resulting in the partial award of the longer-tenor securities. The rate of the benchmark 91-day Treasury bill rose to 3.597 percent during the auction by the Bureau of the Treasury (BTr) Monday. This is higher than the… Read More
Peso, local shares retreat on risk-off sentiment
April 23, 2018, 8:57 pm
MANILA -- Risk-off sentiment reigned over the Philippines' financial and capital markets Monday resulting to the weak close of the peso and the decline of the main stocks gauge. The local currency finished the day at 52.24 from 52.095 Friday last week. A trader attributed this to rising US… Read More
BSP launches second automated clearing house
April 23, 2018, 8:38 pm
MANILA -- Bangko Sentral ng Pilipinas' (BSP) goal of coursing at least 20 percent of local payment transactions through electronic channels just got another big boost with Monday's launch of another automated clearing house (ACH) called InstaPay. InstaPay is the second ACH under the central… Read More
DTI seeks P300-M to help Boracay businesses affected by closure
April 23, 2018, 7:16 pm
MANILA -- Trade and Industry Secretary Ramon Lopez said Monday that the agency will be seeking PHP300 million from government’s Boracay rehabilitation fund to assist small-scale enterprises that will be affected by the tourist trap's planned 6-month closure. He added that Department of Trade and… Read More
'Franchise Negosyo' opens opportunities for MSMEs in CDO
April 23, 2018, 7:13 pm
CAGAYAN DE ORO CITY -- The Philippine Franchise Association (PFA) initiated a meet and match between franchisors and potential franchisees in apparent hopes of tapping into latent business opportunities in this southern city. "Franchise Negosyo Para Sa Cagayan de Oro, was a business… Read More
Healthcare provider bullish on Mindanao’s huge market
April 23, 2018, 4:58 pm
DAVAO CITY – The Health Maintenance Organization (HMO) is bullish on Mindanao’s huge market as it committed to invest on the island through medical network. Maxicare Healthcare Corp. president and chief executive officer Christian Argos is counting on Mindanao’s big market for the company's… Read More
Pack! Pinas launched to improve MSME packaging
April 23, 2018, 3:46 pm
MANILA -- The Department of Trade and Industry (DTI) is urging micro, small, and medium enterprises (MSMEs) to improve the packaging of their products to be more competitive both in the domestic and international markets. Trade and Industry Secretary Ramon Lopez led the launching of a… Read More
Local pharma sector to become a P200-B industry by 2022: BMI Research
April 23, 2018, 3:42 pm
MANILA -- The Philippine pharmaceutical sector is expected to grow into a PHP198.9-billion industry by the year 2022 from its current value of PHP162.3 billion, a unit of Fitch Group forecasted. BMI Research reported Monday that its optimism is founded on the country's growing and ageing… Read More
Trip cancellations due to suspension of P2-per-minute charge: Grab
April 23, 2018, 3:34 pm
MANILA -- Ridesharing firm Grab Philippines said the increase in the number of cancelled trips by its drivers was brought about by the suspension of the Land Transportation Franchising and Regulatory Board (LTFRB) of the PHP2-per-minute travel charge. Grab said its driver cancellation rate doubled… Read More
Grab suspends, bans drivers over cancelled trips
April 23, 2018, 2:51 pm
MANILA -- Ridesharing firm Grab Philippines has sanctioned some 500 drivers following its investigation of complaints of drivers cancelling booked trips of its passengers. Grab assured that it will continue to intensify its campaign to purge abusive drivers among its ranks in order to better serve… Read More
Filipinos urged to invest in stock market
April 22, 2018, 8:57 pm
MANILA -- An online stock and mutual fund platform is encouraging more Filipinos to invest their hard-earned money in stocks, and play a key role in the growth of the country’s capital markets. Dino Bate, President and Chief Executive Officer of COL Financial Group Inc., attributed the weakening… Read More
Aboitiz Equity sets P77-B capex for 2018; eyes ASEAN expansion
April 22, 2018, 5:44 pm
MANILA -- Conglomerate Aboitiz Equity Ventures Inc. (AEV) is more than doubling its capital expenditure (capex) budget to PHP77 billion this year, mainly to bankroll key power projects here as it looks at opportunities to build footprint in Southeast Asia. The Aboitiz Group allocated PHP35 billion… Read More
Group seeks subsidy for garment producers
April 22, 2018, 2:22 pm
MANILA -- A group has urged the government to offer subsidies for manufacturers in the garments sector in order to revive the local industry. Foreign Buyers Association of the Philippines (FOBAP) President Robert Young said in an interview that the industry seeks government subsidies in power and… Read More
LTFRB allows Grab to restore 2x price surge cap
April 20, 2018, 10:02 pm
MANILA -- The Land Transportation Franchising and Regulatory Board (LTFRB) has allowed ridesharing firm Grab Philippines to restore its price surge cap from 1.5 to 2 times the normal fare as it has approved several accreditations of new transportation network companies (TNCs). On Friday, the LTFRB… Read More
Davao, Aparri ports exceed April 2018 targets : BOC
April 20, 2018, 10:00 pm
MANILA — Two collection districts of the Bureau of Customs (BOC) have recorded a surplus in their April collection amounting to PHP12 million, the Bureau announced Friday. The BOC reported that the ports of Aparri and Davao hit their collection targets for this month, based on the preliminary… Read More
Ayala energy arm looks to SEA market
April 20, 2018, 9:55 pm
MANILA -- The energy business arm of conglomerate Ayala Corp. (AC) aims to spend around USD 300 million in power ventures in the Philippines and Vietnam this year, as it expands presence in Southeast Asian markets. AC Energy Holdings Inc. President and Chief Executive Officer John Eric Francia… Read More
PNB to issue USD300-M notes
April 20, 2018, 9:52 pm
MANILA -- The Tan-led Philippine National Bank (PNB) announced on Friday its scheduled issuance of USD300 million worth of five-year-and-one-day Fixed Rate Senior Notes as part of the bank’s Medium-Term Note Program (MTNP). In a disclosure with the Philippine Stock Exchange (PSE), the bank said… Read More
