Business
Food firm enhances community support programs
December 1, 2021, 5:56 pm
MANILA – Food manufacturer Universal Robina Corp. (URC) has ramped up its community support specifically in the areas of livelihood, sustainable farming, food availability and security, as the country grapples with the coronavirus disease 2019 (Covid-19) pandemic. “Our company is building its… Read More
Global trade seen to rise 23% to $28T in 2021: UN report
December 1, 2021, 5:44 pm
ANKARA – Global trade is expected to reach USD28 trillion in 2021, up 23 percent from last year, according to a report issued Tuesday by the UN Conference on Trade and Development (UNCTAD). Global goods trade set a new record by reaching USD5.6 trillion in the third quarter of this year, the… Read More
32% of German biz in PH in ‘good situation’
December 1, 2021, 4:42 pm
MANILA – There is an increase in the number of German companies operating in the Philippines saying their businesses are in a“good situation”, the German-Philippines Chamber of Commerce and Industry’s (GPCCI) World Business Outlooks (WBO) Fall 2021 Survey said. With a total of 74… Read More
Big-time LPG price rollback takes effect
December 1, 2021, 1:44 pm
MANILA – In time for the Christmas season, consumers were greeted with lower prices of liquefied petroleum gas (LPG) at the start of December with a big-time rollback for the commodity this month. The reduction halted the five consecutive months of price increase on LPG products. Petron said… Read More
Cebu’s economic recovery seen to benefit theme parks
December 1, 2021, 1:31 pm
CEBU CITY – An amusement park operator in Cebu has expressed optimism about the continued economic recovery that would also benefit recreation and theme parks amid moves to ease restrictions and allow more mobility. Cebuano businessman Chester Lim, president of Anjo World Theme Park in southern… Read More
PH manufacturing PMI hits 8-month high in November
December 1, 2021, 1:23 pm
MANILA – The country’s manufacturing purchasing managers’ index (PMI) for November 2021 logged the highest score for the past eight months at 51.7, London-based information and analytics firm IHS Markit reported Wednesday. Philippine manufacturing PMI in November increased from a score of… Read More
Russia can fully raise oil output under OPEC+ deal
November 30, 2021, 7:51 pm
MOSCOW – Russia has the capacity to increase oil production by 400,000 barrels per day per month until May 2022 as part of the OPEC+ agreement, the oil companies have no problems to do it, Russian Deputy Prime Minister Alexander Novak told reporters on the sidelines of the Russian-Chinese Energy… Read More
Fiscal consolidation to lessen economic scarring from pandemic
November 30, 2021, 2:37 pm
MANILA – The Department of Finance (DOF) is reviewing the viability of pursuing a fiscal consolidation plan that will minimize whatever long-term economic scarring may occur as a result of the coronavirus-induced crisis and the budgetary implication of the Supreme Court’s (SC) 2018 ruling that… Read More
DOF embarks on digitalization programs to boost services
November 29, 2021, 7:31 pm
MANILA – The Department of Finance (DOF) under Secretary Carlos Dominguez III has beefed up its digitalization initiatives, which include facilitating trade online and making the filing of tax exemptions more convenient to better serve the public and improve its oversight functions and… Read More
PH stock market declines further on Omicron variant concerns
November 29, 2021, 6:47 pm
MANILA – The Philippine Stock Exchange index (PSEi) slipped by 1.07 percent, or 77.56 points, to 7,200.88 Monday as the new coronavirus disease 2019 (Covid-19) variant continues to bring concerns among investors. All shares went down by 0.86 percent, or 33.26 points, to 3,838.13. All counters… Read More
DBP grants P700-M dev’t loan for Naga City
November 29, 2021, 3:45 pm
MANILA – State-owned Development Bank of the Philippines (DBP) has granted a PHP700-million loan to the local government of Naga City in the province of Camarines Sur to fast-track its various public infrastructure and social development projects in the area, a top official said. DBP president… Read More
Another oil price rollback set this week
November 29, 2021, 3:14 pm
MANILA – Oil firms will implement price rollback on petroleum products starting Tuesday morning. In separate advisories, Caltex, Cleanfuel, Petro Gazz, Seaoil, and Shell said they will reduce gasoline prices by PHP1.10 per liter and PHP0.60 per liter on diesel products. Caltex, Seaoil, and… Read More
Exporters group says digital technology key to recovery
November 27, 2021, 8:29 pm
MANILA – The Philippine export industry is recovering from the pandemic’s impact and is expected to further grow as economies open worldwide while stakeholders embark on a digitalization and business continuity program. The lowering of the alert levels toward the full re-opening of the… Read More
PH pushes offensive interests despite WTO MC12 postponement
November 27, 2021, 8:10 pm
MANILA – Due to the emergence of the new Omicron variant and the latest Swiss government’s travel restrictions, the highly anticipated 12th Ministerial Conference of the World Trade Organization (WTO) on Nov. 30-Dec. 3, 2021 in Geneva, Switzerland was indefinitely postponed. The Ministerial… Read More
Peso ends sideways, stocks decline on Covid-19 new variant
November 26, 2021, 8:12 pm
MANILA – The peso moved sideways while the local bourse mirrored most Southeast Asian markets which declined over the new coronavirus disease 2019 (Covid-19) variant. The Philippine Stock Exchange index (PSEi) declined by 79.47 points, or 1.08 percent, to 7,289.80. All shares also shed by… Read More
Foreign biz urged to invest in PH ‘game-changing’ initiatives
November 26, 2021, 8:04 pm
MANILA – Finance Secretary Carlos Dominguez III pitched before foreign investors Friday the Philippines’ “game-changing undertakings” to ensure a strong, inclusive, and resilient recovery from the pandemic as he urged them to take part in these initiatives to help achieve a ‘sustainable… Read More
Economy seen to sustain recovery from pandemic
November 26, 2021, 6:44 pm
CEBU CITY – The infrastructure unit of the Aboitiz Group is looking to partake in the country’s economic recovery as it sets sights on project opportunities in the industrial development, water, digital infrastructure, and transport sectors. Aboitiz InfraCapital (AIC) is optimistic that the… Read More
Be vigilant amid threat of new Covid variant: PRRD adviser
November 26, 2021, 6:21 pm
MANILA – Presidential adviser for entrepreneurship Joey Concepcion is urging Filipinos not to let their guards down despite the declining coronavirus disease 2019 (Covid-19) cases as there is threat of a new variant identified in South Africa. In a statement Friday, Concepcion said the country… Read More
DTI to launch more ‘Negosyo Centers’ in Cebu
November 26, 2021, 5:25 pm
CEBU CITY – The Department of Trade and Industry (DTI) has launched the 33rd Negosyo Center in Cebu in the southern town of Argao to help more micro, small and medium enterprises (MSMEs) amid the lingering pandemic. After launching three Negosyo Centers (NCs) in the Province of Cebu last year,… Read More
BSP fully awards 29-day securities at lower yield
November 26, 2021, 2:54 pm
MANILA – The Bangko Sentral ng Pilipinas (BSP) has awarded its 29-day debt paper in full in auction Friday. The BSP bill was offered at PHP100 billion. The BSP bill was oversubscribed with a total of PHP126.25 billion worth of tenders, reflecting the sustained interest of the market. “The… Read More
