Business
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
NEDA exec cites importance of subsidy as oil prices soar
March 8, 2022, 9:38 pm
MANILA – An official of the National Economic and Development Authority (NEDA) stressed the importance of government subsidies in helping address the impact of rising fuel prices on the public. During the Palace briefing on Tuesday, NEDA Undersecretary Rosemarie Edillion said the government has… Read More
PSEi, peso down anew still on Ukraine-Russia conflict worries
March 8, 2022, 8:16 pm
MANILA – Worries on the Ukraine-Russia conflict, along with expectations for further acceleration of inflation due to jumps in oil prices, resulted in the negative close of the local stock barometer and the peso on Tuesday. The Philippine Stock Exchange index (PSEi) shed 4.26 percent, or 310.34… Read More
BTr rejects bids for 7-year T-bond
March 8, 2022, 7:34 pm
MANILA – Investors’ demand for higher yields again resulted in the rejection of bids for the initial issuance of a seven-year Treasury bond (T-bond) which the Bureau of the Treasury’s (BTr) auctioned on Tuesday. Had the auction committee accepted the bids, coupon rate of the debt paper would… Read More
Gov't well-positioned to meet disbursement plan: DOF chief
March 8, 2022, 7:28 pm
MANILA – The government’s fiscal health remains robust amidst the rejection of bids for government securities during the weekly auctions since last week, Department of Finance (DOF) Secretary Carlos Dominguez III said. “Following (the) strong RTB (Retail Treasury Bonds) 27 reception, the… Read More
World Bank approves $723-M support package for Ukraine
March 8, 2022, 6:11 pm
ISTANBUL – The World Bank announced on Monday that it approved a support package of USD723 million for Ukraine amid the ongoing war with Russia. In a statement, the bank said the supplemental budget support package for Ukraine, called Financing of Recovery from Economic Emergency in Ukraine, or… Read More
Ex-defense chief backs oil price unbundling
March 8, 2022, 5:20 pm
MANILA – Former defense secretary and senatorial bet Gilbert “Gibo” Teodoro supports the call of the Department of Energy (DOE) for price unbundling on petroleum products. In a statement Tuesday, Teodoro said the price unbundling promotes transparency for oil price adjustments, as detailing… Read More
DOE seeks EO to suspend duty on coal imports
March 8, 2022, 4:10 pm
MANILA – The Department of Energy (DOE) is seeking the issuance of an executive order (EO) to suspend import duty on coal outsourced from countries outside the Asean-India Free Trade Agreement (AIFTA). DOE Secretary Alfonso Cusi made the statement amid the skyrocketing global oil prices that can… Read More
Measures in place to cushion impact of Russia-Ukraine conflict
March 8, 2022, 4:03 pm
MANILA – Finance Secretary Carlos Dominguez III has assured President Rodrigo Duterte that the impact of the current Russia-Ukraine crisis on the Philippines would only be temporary, and a comprehensive set of measures are now being implemented to ease its impact on the economy and the people. … Read More
IPOPHL helps make PH 2nd country with most women inventors
March 8, 2022, 3:46 pm
MANILA – Efforts of the Intellectual Property Office of the Philippines (IPOPHL) to advance women in innovation have borne fruit with the Philippines now standing as the second leading country to drive women's participation in the international patent system. Recent data from the World… Read More
PH stocks, peso weaken as Ukraine-Russia conflict heightens
March 7, 2022, 8:02 pm
MANILA – Escalation of the Ukraine-Russia conflict resulted in the negative close of both the main stocks gauge and the peso on Monday. The Philippine Stock Exchange index (PSEi) shed 0.73 percent, or 53.94 points, to 7,288.07 points. All Shares also declined by 0.73 percent, or 28.54… Read More
BTr rejects bids for T-bills anew on rate upticks
March 7, 2022, 7:56 pm
MANILA – The Bureau of the Treasury’s (BTr) auction committee rejected for the second consecutive week bids for the Treasury bills (T-bills) across-the-board on Monday after investors asked for high rates. Had the auction committee awarded the debt papers, the average rate of the 91-day… Read More
CREATE law pushes conglomerate’s earnings higher
March 7, 2022, 7:50 pm
MANILA – Diversified engineering conglomerate DMCI Holdings Inc. booked a record-high core net income in 2021 despite the pandemic, as it continued to benefit from a lower income tax under the Corporate Recovery and Tax Incentives for Enterprises (CREATE) law. In a statement, DMCI Holdings said… Read More
‘Real’ big-time oil price hike set March 8
March 7, 2022, 4:02 pm
MANILA – Consumers have to brace for a hefty hike in the prices of petroleum products which takes effect on Tuesday. In separate advisories, Caltex, Cleanfuel, Jetti, Petro Gazz, Seaoil, and Shell said they will increase gasoline prices by PHP3.60 per liter and PHP5.85 per liter on diesel.… Read More
PH seen to lure more foreign biz with new law
March 7, 2022, 2:16 pm
MANILA – Foreign businesses can now plan out their strategic investment programs in the Philippines after President Rodrigo Duterte signed the Republic Act (RA) 11647, amending the Foreign Investments Act. In a statement Monday, the German-Philippine Chamber of Commerce and Industry (GPCCI) has… Read More
Alert Level 1 ‘necessary’ to counter global economic slowdown
March 7, 2022, 12:17 pm
MANILA – Presidential Adviser for Entrepreneurship Joey Concepcion has recommended maintaining Alert Level 1 status in the country, especially in Metro Manila and key cities, to counter the impacts of global economic slowdown brought by the conflict between Ukraine and Russia. Concepcion said in… Read More
28-day BSP bills rate rises on RTB settlement
March 4, 2022, 8:47 pm
MANILA – The average rate of the Bangko Sentral ng Pilipinas’ (BSP) 28-day securities rose on Friday but a ranking executive said demand for the debt paper remained strong. Data released by the BSP showed that average weighted rate of the securities, which is among the central bank’s excess… Read More
PH stocks gauge, peso weaken further amid Ukraine-Russia worry
March 4, 2022, 8:44 pm
MANILA – Worries about the Ukraine-Russia conflict continued to hit both the local bourse and the currency on Friday. The Philippine Stock Exchange index (PSEi) shed further by 0.62 percent, or 46.08 points, to 7,342.01 points. All Shares followed with a drop of 0.58 percent, or 22.9 points, to… Read More
Easing of foreign ownership to fast-track recovery: DTI
March 4, 2022, 5:31 pm
MANILA – Department of Trade and Industry (DTI) Secretary Ramon Lopez has welcomed President Rodrigo Duterte's signing of Republic Act 11647, amending the Foreign Investments Act, as this will usher in recovery from the pandemic. The new law will allow more equity for foreign investors that will… Read More
PH gives highest perks for new tech investments
March 4, 2022, 3:08 pm
MANILA – The Philippine government, through the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Law, is giving generous fiscal incentives for investments in new technologies. Speaking at a forum of the European Chamber of Commerce of the Philippines (ECCP) on Friday, Department of… Read More
