Business
SEC grants crowdfunding licenses of 2 firms
February 28, 2022, 1:26 pm
MANILA – The Securities and Exchange Commission (SEC) has allowed SeedIn Technology, Inc. and Eastern Securities Development Corporation to act as crowdfunding intermediaries and operate crowdfunding portals, providing the country’s small, medium and emerging enterprises (SME) with more… Read More
Exporters urged to maximize FTAs to boost trade, investments
February 27, 2022, 11:34 am
MANILA – Filipino exporters are encouraged anew to maximize free trade agreements (FTAs) between Asean member-countries and trading partners to enhance trade and investment opportunities. But Jan Redmond Dela Vega of the Department of Trade and Industry-Bureau of International Trade Relations… Read More
BSP invests in Asian Green Bond fund in sustainable finance push
February 25, 2022, 9:35 pm
MANILA – As part of its commitment to lead by example and redirect capital to address urgent global challenges, the Bangko Sentral ng Pilipinas (BSP) has invested in the Asian Green Bond Fund (BISIP G3) of the Bank for International Settlements (BIS), which aims to help fund investments in green… Read More
PH to continue reforms despite leadership change: DTI
February 25, 2022, 10:09 am
MANILA – Department of Trade and Industry (DTI) Secretary Ramon Lopez has assured American businesses that the agency will continue reforms that will facilitate the growth of businesses and investments here. In a virtual economic briefing hosted by the Philippine Embassy in Washington DC… Read More
Stocks, peso weaken on geopolitical issues overseas
February 24, 2022, 8:15 pm
MANILA – Heightened concerns on the geopolitical tensions surrounding Russia and Ukraine further dampened investors’ sentiments, resulting in the negative close of both the local stock barometer and the peso on Thursday. The Philippine Stock Exchange index (PSEi) declined by 2.06 percent, or… Read More
Gov't readies fuel subsidies for affected sectors
February 24, 2022, 8:05 pm
MANILA – Economic managers have vowed continued measures to help sectors affected by the rising fuel prices, including the PHP2.5-billion fuel subsidy program. In a statement Thursday, the inter-agency Development Budget Coordinating Committee (DBCC) said the fuel subsidy will be released… Read More
Food makers back SRA’s sugar import plan to ensure supply
February 24, 2022, 6:52 pm
MANILA – The Philippine Chamber of Food Manufacturers Inc. (PCFMI) has expressed support to the Sugar Regulatory Administration’s (SRA) plan to import 200,000 metric tons (MT) of refined sugar given the local shortage. “Due to the current local shortage of refined sugar that conforms with… Read More
AboitizPower’s solar power plant breaks ground in Pangasinan
February 24, 2022, 6:18 pm
MANILA – AboitizPower Corp. is accelerating its 94-megawatt (MW) solar power project in Cayanga, Bugallon in Pangasinan following a groundbreaking ceremony on Thursday. AboitizPower unit Aboitiz Renewables, Inc. (ARI) said construction for the PHP4.5-billion solar project will begin soon as it… Read More
SEC stops AlphanetWorld’s illegal investment scheme
February 24, 2022, 3:07 pm
MANILA – The Securities and Exchange Commission (SEC) has ordered AlphanetWorld Corporation, which has been doing business under the name NWorld, to stop soliciting investments from the public without the necessary license. In an order issued February 23, the commission en banc directed… Read More
Gov’t seizes record-high P25-B fake goods
February 24, 2022, 3:03 pm
MANILA – Despite the pandemic, the government managed to seize record-high value of counterfeit goods amounting to PHP24.9 billion in 2021. In a press conference Thursday, Intellectual Property Office of the Philippines (IPOPHL) Director General Rowel Barba said seized fake goods last year… Read More
DBP grants P1.6-B financing aid to C. Luzon hospital firm
February 24, 2022, 2:32 pm
MANILA – State-owned Development Bank of the Philippines (DBP) has extended a PHP1.6-billion financing assistance to Luzon Alliance Medical Center, Inc. (LAMCI) to boost the accessibility and quality of health care in the Central Luzon region, a top official said. DBP president and chief… Read More
American stocks plummet as Biden expands Russia sanctions
February 24, 2022, 12:51 pm
ANKARA – US stocks plummeted to close Wednesday in the red as tensions concerning the Russia-Ukraine crisis escalated. At the closing bell, the Dow Jones was down 452.53 points, or 1.35 percent, to 33,144. The S&P 500 lost 74.56 points, or 1.73 percent, to hit 4,230 points. The Nasdaq fell… Read More
Duterte successor to ‘inherit’ modernized customs bureau
February 23, 2022, 8:23 pm
MANILA – President Rodrigo Duterte will turn over to the next administration a more modernized and sophisticated customs bureau that has transformed into a highly efficient agency and automated the majority of its processes on his watch, Finance Secretary Carlos Dominguez III said… Read More
TDF rates post mixed results, demand still strong
February 23, 2022, 8:02 pm
MANILA – The rate of the central bank’s term deposit facility (TDF) posted mixed results on Wednesday, with demand stronger for the shorter tenor facility. Bangko Sentral ng Pilipinas (BSP) data show that the average rate of the seven-day facility dropped to 1.6745 percent from 1.6858… Read More
PSEi slips on geopolitical concerns overseas; peso strengthens
February 23, 2022, 7:40 pm
MANILA – Geopolitical concerns overseas continued to hurt the local stock barometer and resulted in its negative close on Wednesday but the peso gained against the US dollar. The Philippine Stock Exchange index (PSEi) lost 1.03 percent, or 76.7 points, to 7,364.21 points. All Shares… Read More
Iran has capacity to supply natural gas to world: President
February 23, 2022, 7:36 pm
TEHRAN, Iran – Iran's President Ebrahim Raisi on Tuesday declared his country's readiness to supply natural gas to the world, including Europe. Addressing the sixth summit of the Gas Exporting Countries Forum (GECF) in Qatar’s capital Doha, Raisi said that Iran, as one of the world’s… Read More
ARTA pushes for zero backlog policy
February 23, 2022, 7:08 pm
MANILA – The Anti-Red Tape Authority (ARTA) is pushing for a zero backlog policy in national government agencies (NGAs), local government units (LGUs), and government-owned and controlled corporations (GOCCs) ensuring that all transactions with public offices have been delivered within the… Read More
DTI sees minimal impact on PH trade amid Ukraine-Russia crisis
February 23, 2022, 5:33 pm
MANILA – Department of Trade and Industry (DTI) Secretary Ramon Lopez said possible disruption on the country’s trade with Ukraine and Russia will be minimal amid the crisis between the two nations. “Having it studied, offhand, (has) less direct impact given our small trade with Ukraine,… Read More
DOF chief: Next admin to inherit Duterte’s ‘hard-won’ reforms
February 23, 2022, 4:47 pm
MANILA – Department of Finance (DOF) Secretary Carlos Dominguez III said Wednesday the next administration will inherit a slew of President Rodrigo Duterte’s “hard-won” reforms, which include several economic liberalization measures to help fuel the Philippines’ resurgence in the years… Read More
PH food firms sell $24-M in Dubai expo
February 23, 2022, 4:21 pm
MANILA – Philippine food companies that participated in the Gulfood 2022 in Dubai, United Arab Emirates closed the four-day expo with initial sales amounting to USD23.6 million, or around PHP1.2 billion. In a statement Wednesday, the Center for International Trade Expositions and Missions… Read More
