Business
Public-private tie-up positions Makati as PH’s Silicon Valley
March 11, 2022, 2:23 pm
MANILA – Makati City is chosen to be the pilot city for the Innovative Cities initiative, a collaboration of public and private sector and the academe, positioning the country’s prime central business district as its own Silicon Valley. Digital Pilipinas has partnered with the Department of… Read More
BSP backs gov't fiscal interventions amid Ukraine-Russia war
March 11, 2022, 10:55 am
MANILA – The Bangko Sentral ng Pilipinas (BSP) vowed to support the national government's fiscal intervention to soften the impact of global events on the local economy. This, as the country's inflation is expected to quicken due to disruptions in global trade and soaring oil prices amid the… Read More
Oil prices gain on hope OPEC filling Russian supply shortfall
March 10, 2022, 8:29 pm
ANKARA – Oil prices rebounded on Thursday following a sharp drop late on Wednesday as the market weighed expectations of Organization of the Petroleum Exporting Countries (OPEC) producers boosting production to fill the shortfall in Russian supplies. International benchmark Brent crude was… Read More
DBM releases P3 billion for fuel subsidy, discount programs
March 10, 2022, 8:05 pm
MANILA – The Department of Budget and Management (DBM) has released a total of PHP3 billion for the implementation of the Department of Transportation’s (DOTr) fuel subsidy program (PHP2.5 billion) and the Department of Agriculture’s (DA) fuel discount program (PHP500 million) to provide… Read More
Stocks improve, peso on sideways as oil prices cool off
March 10, 2022, 6:57 pm
MANILA – Both the Philippine Stock Exchange index (PSEi) and peso closed Thursday’s trading with gains as global oil prices cooled off. The PSEi ended the day improving by 1.92 percent, or 134.92 points, to 7,124.80. All shares increased by 1.38 percent, or 51.47 points, closing at… Read More
PH logs record-high FDI inflows at $10.5-B in 2021
March 10, 2022, 6:51 pm
MANILA – The Philippines recorded its highest foreign direct investment (FDI) net inflows in 2021 amounting to USD10.52 billion, increasing by 54.2 percent from USD6.82 billion the previous year, the Bangko Sentral ng Pilipinas (BSP) reported Thursday. FDIs continued to gain momentum last year… Read More
DBP inks pact with CICC to bolster cyber resiliency
March 10, 2022, 6:35 pm
MANILA – State-owned Development Bank of the Philippines (DBP) has signed a memorandum of agreement with the Cybercrime Investigation and Coordinating Center (CICC) to further strengthen the bank against potential cybersecurity threats and boost its capacity to defend critical system… Read More
MFIs urged to embrace digitalization to expand reach
March 10, 2022, 5:12 pm
MANILA – The Bangko Sentral ng Pilipinas (BSP) has highlighted the contribution of microfinance institutions (MFIs) in making financial products and services more accessible to micro and small enterprises, especially in rural areas. In a briefing Thursday, BSP Governor Benjamin Diokno said MFIs… Read More
CAMPI eyes 17% hike in auto industry sales for 2022
March 10, 2022, 5:07 pm
MANILA – The Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) targets the local automotive vehicle industry to expand by 17 percent in terms of volume of sales this year. “As the economy reopens, the safety and health of the public is paramount to prevent another wave of… Read More
DTI chief lauds Japan-led investment cooperation for Asia
March 10, 2022, 2:20 pm
MANILA – Department of Trade and Industry (DTI) Secretary Ramon Lopez has welcomed the Asia-Japan Investing for Future Initiative that aims to strengthen investment cooperation in the Asian region. Speaking at the 47th Asean-Japan business meeting on Thursday, Lopez said the Japan-led… Read More
Petro Gazz gives oil price rollback until weekend
March 10, 2022, 7:00 am
MANILA – Petro Gazz is implementing price rollbacks on pump prices until March 13. Price rollback in Petro Gazz stations nationwide started at 6 a.m. Thursday until 11:59 p.m. Sunday. Petro Gazz is giving a rollback of PHP5.85 per liter for diesel and PHP3.6 per liter for gasoline products.… Read More
Term deposit facility rates rise anew
March 9, 2022, 8:56 pm
MANILA – Demand for the Bangko Sentral ng Pilipinas’ (BSP) term deposit facility (TDF) remains strong but its rates increased further partly due to concerns about overseas developments. Data released by the central bank on Wednesday showed that the average rate of the seven-day facility rose… Read More
Insurance sector to benefit from gov’t's digitalization bid
March 9, 2022, 8:53 pm
MANILA – The government’s push for digitalization and use of technology in various processes are not only seen to boost its financial inclusion bid but is projected to also increase insurance penetration in the Philippines. In a virtual briefing on Wednesday, Insular Life vice president and… Read More
Infra holding firm core income hits P12.3-B as industries reopen
March 9, 2022, 8:46 pm
MANILA – Infrastructure holding firm, Metro Pacific Investments Corporation (MPIC), has booked a 20-percent rise in consolidated core net income last year despite the continued imposition of varying levels of quarantine across the country to contain the coronavirus disease 2019 (Covid-19). In a… Read More
Stocks recover, peso ends sideways amid Ukraine-Russia tension
March 9, 2022, 8:05 pm
MANILA – The local stock barometer took a breather on Wednesday despite the volatility caused by the Ukraine-Russia problem while the local currency finished the day sideways against the US dollar. After several days of finishing in the negative territory, the Philippine Stock Exchange index… Read More
IT-BPM industry still looking into WFH or hybrid work model
March 9, 2022, 6:58 pm
MANILA – After the rejection of the request to extend the work-from-home (WFH) set up for information technology and business process management (IT-BPM), the industry will still look into embedding this work arrangement in the long term. On Wednesday, the Fiscal Incentive Review Board (FIRB)… Read More
BOC-Mactan passes ISO audit for world-class customs service
March 9, 2022, 6:32 pm
CEBU CITY – International passengers and returning Filipinos arriving at the Mactan-Cebu International Airport (MCIA) will continue to experience a world-class customs service as the Bureau of Customs-Subport of Mactan passes the surveillance audit for ISO 9001:2015 certification. BOC-Mactan… Read More
DTI eyes zero tariff on e-vehicles
March 9, 2022, 6:24 pm
MANILA – The Department of Trade and Industry (DTI) has proposed to scrap import duty on electric vehicles to accelerate the country’s shift to e-vehicles. DTI Secretary Ramon Lopez said adjusting the tariff on e-vehicles will bring the down the cost for this mode of transportation that will… Read More
DTI chief optimistic PH can withstand new oil crisis
March 9, 2022, 6:20 pm
MANILA – Department of Trade and Industry (DTI) Secretary Ramon Lopez is optimistic that the country can withstand the current crisis in oil prices as the government rolls out policies and programs to mitigate the impact of the Russia-Ukraine war. During the Kapihan sa Manila Bay Wednesday,… Read More
SEC lays down rules on dissolution of corporations
March 9, 2022, 6:15 pm
MANILA – The Securities and Exchange Commission (SEC) has released the standard procedures for the voluntary and involuntary dissolution of corporations effective March 9. The commission on February 15 issued SEC Memorandum Circular No. 5, Series of 2022, providing the guidelines on corporate… Read More
