Business
PAL 'cautiously optimistic', hits 40% of pre-pandemic frequencies
November 16, 2021, 4:25 pm
MANILA – Flag carrier Philippine Airlines (PAL) remains cautiously optimistic as its flight operations reach 40 percent of its pre-pandemic flight frequencies, an executive said on Tuesday. "We view the current situation as a prelude to revenge travel. However, we remain cautiously optimistic,… Read More
182-day T-bill rate up, others end sideways
November 15, 2021, 6:36 pm
MANILA – Rates of the Philippines’ Treasury bills (T-bills) mostly moved sideways on Monday ahead of the Bangko Sentral ng Pilipinas (BSP) rate-setting meet later this week. The average rate of the 91-day T-bill moved sideways to 1.15 billion and the one-year paper to 1.621 percent while that… Read More
PH stocks index, peso start week on negative
November 15, 2021, 6:32 pm
MANILA – Wait-and-see stance ahead of the policy meeting of the Bangko Sentral ng Pilipinas (BSP) later this week partly resulted to the decline of both the main stocks index and the peso on Monday. The Philippine Stock Exchange index (PSEi) shed 0.55 percent, or 40.47 points, to 7,342.37… Read More
Firm putting up largest SEA solar project goes public
November 15, 2021, 5:06 pm
MANILA – Renewable energy firm Solar Philippines Nueva Ecija Corp. (SPNEC) will raise funds to put up its largest solar project in Southeast Asia and boost the country’s renewable energy capacity. SPNEC got the nod of the Philippine Stock Exchange (PSE) and Securities and Exchange Commission… Read More
Tech innovations to further help gov't debt issuance
November 15, 2021, 2:18 pm
MANILA – An economist said further utilization of digital channels is expected to help boost the government's reach vis-a-vis its retail debt issuance. In a reply to e-mailed questions from the Philippines News Agency, Rizal Commercial Banking Corporation (RCBC) chief economist Michael Ricafort… Read More
Price rollback on gasoline, kerosene set Tuesday
November 15, 2021, 1:50 pm
MANILA – Oil companies are set to reduce prices of gasoline and kerosene starting Tuesday morning. In separate advisories, Caltex, Petro Gazz, Cleanfuel, Seaoil, and Shell will roll back gasoline prices by PHP0.90 per liter. Caltex, Seaoil, and Shell will likewise decrease prices of kerosene by… Read More
Apply for 13th-month pay loan, Bello tells small biz owners
November 14, 2021, 7:48 pm
MANILA – Micro and small enterprises that are having difficulty in giving the 13th-month pay of their employees can apply for a government loan, Department of Labor and Employment (DOLE) Secretary Silvestre Bello III said in a statement on Sunday. The Labor chief made the call as he reminded… Read More
Cebu Pacific rehiring retrenched cabin crew
November 13, 2021, 6:14 pm
MANILA – Low-cost carrier Cebu Pacific (CEB) on Saturday announced it will rehire its retrenched cabin crew. The carrier had to retrench about 1,300 employees last year, as the airline industry was among the hardest hit by the coronavirus disease 2019 (Covid-19) pandemic. CEB spokesperson… Read More
New RE plan targets 35% share of power generation by 2030
November 13, 2021, 2:14 pm
MANILA – The Philippines' proposed National Renewable Energy Program (NREP) 2020-2040 is setting a target of 35 percent share of renewable energy (RE) in the power generation mix by 2030 and 50 percent share by 2040. This was bared by Director Mylene C. Capongcol, OIC of the Department of… Read More
Urban tourism brings major benefits to businesses, exporters
November 13, 2021, 1:53 pm
MANILA – Bringing farms to cities addresses food shortage, provides livelihood opportunities, and an avenue for education, additional revenue, and community bonding. Dr. Mina Gabor, chair and president of the International School of Sustainable Tourism, thus encourages exporters to explore… Read More
PH stocks, peso up amid rising US inflation, bond yields
November 12, 2021, 8:10 pm
MANILA – Risk-on sentiments lifted both the main stocks index and the peso, which strengthened to its nearly two-month high, on Friday amidst concerns on the heating inflation and surging bond yields overseas. The Philippine Stock Exchange index (PSEi) rose by 0.70 percent, or 51.19 points,… Read More
PH, Singapore move towards easier e-payments linkage
November 12, 2021, 7:21 pm
MANILA – Filipinos will eventually have seamless financial transactions with counterparts in Singapore after monetary authorities from both countries recently signed another agreement that will pave the way for formal dialogues on this bid. In her speech during the virtual Digital… Read More
BSFIs should assess borrowers in ‘holistic and prudent manner’
November 12, 2021, 5:10 pm
MANILA – Getting a loan is hard for small borrowers due to lack of necessary documentary requirements but the Bangko Sentral ng Pilipinas (BSP) said its regulated institutions should assess borrowers in “a holistic and prudent manner”. “This entails appropriate consideration of the… Read More
8K small biz can tap DTI’s zero-interest 13th month pay loan
November 12, 2021, 2:51 pm
MANILA – The Small Business Corp. (SBCorp) said some 8,000 micro and small enterprises are eligible to tap its interest-free 13th Month Pay Loan Facility. SBCorp, the financing arm of the Department of Trade and Industry (DTI), and the Department of Labor and Employment (DOLE) officially… Read More
Cebu developer cites improving business climate
November 12, 2021, 2:47 pm
CEBU CITY – A property developer has cited the improving business climate here, as economic activity continues to pick up. In a virtual investors’ briefing on Friday, Cebu Landmasters Inc. (CLI) chairman and chief executive officer Jose Soberano III said demand for housing has sustained its… Read More
PH stocks, peso end lower on US, China inflation concerns
November 11, 2021, 7:49 pm
MANILA – Higher-than-expected inflation rates in the US and China worried investors, resulting in the negative close of both the Philippine Stock Exchange index (PSEi) and the peso on Thursday. The main equities index shed 0.60 percent, or 44.03 points, to 7,331.65 points. All Shares… Read More
Food firm embarks on expansion amid improving economy
November 11, 2021, 7:15 pm
MANILA – Listed food manufacturer Monde Nissin Corp. is adding more manufacturing lines in its Malvar, Batangas plant, banking on the improving economic conditions in the country. In a briefing Thursday, chief financial officer Jesse Teo said the company earmarked PHP2 billion to add more… Read More
BSP keeps economic assumptions despite better Q3 growth
November 11, 2021, 7:08 pm
MANILA – Monetary authorities are keeping their 2021-2022 economic assumptions for now amid the higher-than-expected domestic output in the third quarter, citing that downside risks remain up. Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said end-September domestic output, as… Read More
DTI-12 eyes P10-M sales in week-long trade expo
November 11, 2021, 6:55 pm
GENERAL SANTOS CITY – The Department of Trade and Industry (DTI) in Region 12 (Soccsksargen) is targeting to generate around PHP10 million in sales in the week-long grand trade expo and products showcase here that will open on November 15. Robert Orfrecio, chief of DTI-Region 12’s micro,… Read More
Auto industry expands 23.8% in Jan.-Oct.
November 11, 2021, 5:45 pm
MANILA – The automotive industry in the country continues to grow as sales in the first 10 months of 2021 increased by 23.8 percent compared to the same period last year. In a joint report Thursday, the Chamber of Automotive Manufacturers in the Philippines, Inc. (CAMPI) and the Truck… Read More
