Business
PH eyes concluding trade deal with UAE next year
March 24, 2022, 7:02 pm
MANILA – The Department of Trade and Industry (DTI) targets to conclude the trade and investment agreement with the United Arab Emirates as early as next year, DTI Assistant Secretary Allan Gepty said Thursday. During the virtual presser of the Presidential Communications Operations Office’s… Read More
BSP key rates steady despite hikes in inflation forecasts
March 24, 2022, 5:58 pm
MANILA – The Bangko Sentral ng Pilipinas’ (BSP) policy-making Monetary Board (MB) on Thursday kept the central bank’s key policy rates despite the upward adjustments in the average inflation forecasts for this and next year. Thus, the central bank’s overnight reverse repurchase (RRP) rate… Read More
BOC automates 82% of customs processes, improves collection
March 24, 2022, 5:52 pm
MANILA – The Bureau of Customs (BOC) has automated and streamlined 139 or 82 percent of its 170 processes and procedures under the Duterte administration through its continuing modernization program, which has resulted in above-target collections despite the economic slowdown induced by the… Read More
Some BPO firms opt to forego tax perks than stop WFH setup
March 24, 2022, 1:50 pm
MANILA – At least four to six companies in the business process outsourcing (BPO) are willing to give up the fiscal incentives they are enjoying from the government just to adopt the work-from-home (WFH) arrangement, a newly organized group of BPO workers said. In a press conference Thursday,… Read More
PH stocks gauge ends flat, peso finishes sideways
March 23, 2022, 9:57 pm
MANILA – The Philippines’ main stocks gauge managed to end the day up amidst expectations for more hikes in the Federal Reserve’s key rates and the Ukraine-Russia conflict while the peso kept its footing against the greenback. The Philippine Stock Exchange index (PSEi) ended the day flat… Read More
Excess VAT collections, GOCC dividends to fund more subsidies
March 23, 2022, 8:30 pm
MANILA – Excess value added tax (VAT) collections, boosted by oil price upticks, and dividends from government-owned and controlled corporations (GOCCs) will be used for the additional PHP500 subsidy for Pantawid Pamilyang Pilipino Program (4Ps) beneficiaries. During the Laging Handa public… Read More
TDF rates decline despite Fed rate hike expectations
March 23, 2022, 7:54 pm
MANILA – The rate of the central bank’s term deposit facility (TDF) slipped Wednesday but with still high demand despite the expected further tightening in the Federal Reserve’s key rates. Data released by the Bangko Sentral ng Pilipinas (BSP) showed that the average rate of the… Read More
Fed needs to move aggressively to control inflation: official
March 23, 2022, 6:43 pm
ANKARA – The United States Federal Reserve needs to move "aggressively" to keep record-high inflation under control, an official said Tuesday. "We need to get to neutral at least so that we are not putting upward pressure on inflation during this period when we have a much higher inflation than… Read More
P2-M ‘negosyo kits’ to reboot Cebu MSMEs’ businesses
March 23, 2022, 6:04 pm
CEBU CITY – A total of PHP2 million worth of assistance in the form of “negosyo kits” will help reboot the businesses of the 2,500 micro, small and medium enterprises (MSMEs) in Cebu province that were affected by the Typhoon Odette, an official said on Wednesday. Rose Mae Quiñanola,… Read More
Food firm conserves water via reduce, reuse, recycle program
March 23, 2022, 5:25 pm
MANILA – A food firm has managed to save over 11 million cubic meters of water since 2018 through various water conservation initiatives integral to its corporate social responsibility. “We recognize that water is a non-renewable resource, and that it is an essential input material in the… Read More
DOF fetes Legazpi as top performer in local revenue collection
March 23, 2022, 3:43 pm
LEGAZPI CITY – The Legazpi City government on Tuesday received awards from the Department of Finance (DOF) as the No. 1 top-performing city in the country in terms of local revenue generation and collection and No. 9 in year-on-year-growth in Local Sourced Revenue (LSR). In an interview on… Read More
SEC OKs Converge bond offering, Asia Pacific Medical Center IPO
March 23, 2022, 1:39 pm
MANILA – The Securities and Exchange Commission (SEC) has considered favorably the fixed-rate bond offering by Converge Information and Communications Technology Solutions, Inc. and initial public offering by Asia Pacific Medical Center (APMC) Bacolod, Inc. In its March 22 meeting, the… Read More
7-year T-bond rate rises as Fed signals more hikes
March 22, 2022, 8:56 pm
MANILA – The rate of seven-year Treasury bond (T-bond) rose on Tuesday partly on expectations for further hikes in the Federal Reserve’s key rates, resulting in the partial award for the debt paper. The average rate of the paper increased to 5.601 percent from 4.689 percent… Read More
Stocks up on bargain hunting; peso nearly unchanged
March 22, 2022, 8:32 pm
MANILA – Bargain hunting lifted the main stocks index on Tuesday while the peso finished the day sideways against the US dollar. The Philippine Stock Exchange index (PSEi) rose by 0.75 percent, or 52.34 points, to 7,008.94 points. All Shares jumped by 0.49 percent, or 18.16 points, to… Read More
DBM releases P7-B for PUV service contracting program
March 22, 2022, 8:07 pm
MANILA – The Department of Budget and Management (DBM) has released PHP7 billion to the Department of Transportation (DOTr) for the implementation of the service contracting program (SCP) which provides cash subsidies to affected public utility vehicle (PUV) drivers/owners, while also ensuring… Read More
DTI-NegOr conducts MSME product assessment
March 22, 2022, 7:50 pm
DUMAGUETE CITY – The Department of Trade and Industry (DTI) in Negros Oriental is now bringing its services to clients, specifically the micro, small and medium enterprises (MSMEs), to assist in determining whether their product is qualified in the One Town, One Product (OTOP)… Read More
IT-BPM firms may choose to adopt WFH arrangements: DOF
March 22, 2022, 7:42 pm
MANILA – The Department of Finance (DOF) has clarified that information technology business process management (IT-BPM) companies in ecozones and are registered with investment promotion agencies (IPA) are free to adopt work from home (WFH) arrangements. “IT-BPM companies in ecozones are… Read More
Fed to hike rates more aggressively if needed to curb inflation
March 22, 2022, 7:25 pm
WASHINGTON – United States Federal Reserve Chairman Jerome Powell said on Monday that the central bank will, if needed, move "more aggressively" to raise the federal funds rate by more than 25 basis points at its policy meetings to curb inflation. "The labor market is very strong, and inflation… Read More
Over $60-B investments seen to enter PH with amended PSA
March 22, 2022, 6:19 pm
MANILA – Trade Secretary Ramon Lopez expects the country will get USD60 billion to USD100 billion worth of investments in the next two years with the signing into law of the amendments to the Public Service Act (PSA). On Monday, President Rodrigo Duterte enacted into law Republic Act No. 11659… Read More
New law to turn PH into ‘attractive’ investment hub: PLDT
March 22, 2022, 5:58 pm
MANILA – An executive of telecommunications company PLDT on Tuesday said the passage of Republic Act (RA) 11659 amending the Public Services Act (PSA) would help position the Philippines as an “attractive investment destination” for foreign entities looking to invest in the Asian market.… Read More
