Business
Trade chief sees encouraging signs of recovery
November 11, 2021, 5:40 pm
MANILA – The lower alert level at the start of the fourth quarter of the year and the reopening of more economic activities support the country’s recovery to the pre-pandemic level, the top trade official said. Department of Trade and Industry (DTI) Secretary Ramon Lopez said the economic… Read More
DTI urges firms to incentivize vaxxed employees
November 11, 2021, 4:28 pm
MANILA – Department of Trade and Industry (DTI) Secretary Ramon Lopez believes that vaccination against coronavirus disease 2019 (Covid-19) should not be a requirement in companies, but firms should think of ways to incentivize employees that got the jab. During the Laging Handa public briefing… Read More
BSP to finish data collection for credit scoring bid by December
November 11, 2021, 4:26 pm
MANILA – The Bangko Sentral ng Pilipinas (BSP) aims to complete by December this year the data collection for its Credit Risk Database (CRD) Project, which is part of its bid to establish credit scoring in the country. In his speech during the virtual 59th Philippine Economic Society annual… Read More
Cebu zone locators optimistic of economic recovery
November 11, 2021, 3:37 pm
CEBU CITY – Cebu's export zone locators cited government assistance and trusted international delivery partners as key factors in alleviating the impact of coronavirus disease 2019 (Covid-19) pandemic to small and medium-sized enterprises (SMEs) operating in special economic zones. John Arffy… Read More
Fitch Solutions forecasts higher 2021 growth for PH
November 10, 2021, 7:35 pm
MANILA – Fitch Solutions has revised upwards its 2021 growth forecast for the Philippines following the higher-than-expected domestic output in the third quarter of this year but slashed its next year’s projection because of remaining risks. In a report, the unit of Fitch Group now projects… Read More
PSEi ends rally but peso up vs. greenback
November 10, 2021, 7:31 pm
MANILA – Negative sentiments reigned in the local bourse on Wednesday dragging the main index, which posted a year-to-date high a day ago after it tracked its US counterparts, but the peso gained anew against the US dollar. The Philippine Stock Exchange index (PSEi) declined by 0.89 percent,… Read More
ARTA outpost accepts reports vs. fixers, red tape in gov’t
November 10, 2021, 6:35 pm
MANILA – The Anti-Red Tape Authority (ARTA) on Wednesday launched its first ARTAmbayan outpost that can receive reports from citizens regarding fixers and poor public service in government offices. The first ARTAmbayan is located at Barangay Pinyahan along Magalang Street in Quezon City. ARTA… Read More
Another Covid-19 surge possible as holiday, poll seasons near
November 10, 2021, 6:04 pm
MANILA – Filipinos are urged to continue practicing minimum public health standards like maintaining physical distancing to avoid another surge in coronavirus disease 2019 (Covid-19) cases. This as the holiday and election seasons are upcoming, and people may relax in practicing social… Read More
Term deposit facility rates sustain drop
November 10, 2021, 5:59 pm
MANILA – The Bangko Sentral ng Pilipinas (BSP) has increased the offer volume for the term deposit facility (TDF) this week but this remains oversubscribed, with rates generally on the decline. Data released by the central bank showed that the offering for the seven-day facility was hiked to… Read More
Further easing of restrictions boosts chemical, food maker profit
November 10, 2021, 5:14 pm
MANILA – Food and chemical products manufacturer D&L Industries is on track to hit pre-pandemic profit levels this year with the easing of the coronavirus disease 2019 (Covid-19) restrictions and the continued rollout of vaccination. “...We now have Alert Level 2 and I saw some news (that)… Read More
BSP commits to achievement of low-carbon economy
November 10, 2021, 4:41 pm
MANILA – The Bangko Sentral ng Pilipinas (BSP) has vowed to further advocate for greater contribution of the financial sector on the goal towards having environmentally responsible and sustainable policies to help address climate change. In a statement on Wednesday, BSP Governor Benjamin… Read More
Dar sees agri performance turnaround in Q4
November 10, 2021, 4:27 pm
MANILA – Department of Agriculture (DA) Secretary William Dar is bullish on the performance of the agriculture sector in the last quarter (Q4) of the year despite the dip in livestock that pulled down its performance in the third quarter (Q3). "We expect a better performance this fourth… Read More
23.3-MW power added in Bantayan Island
November 10, 2021, 3:06 pm
MANILA – The Isla Norte Energy Corp. (INEC) inaugurated Wednesday the 23.3-megawatt (MW) diesel power plant in Bantayan Island, Cebu, providing additional power supply in the emerging tourist destination. In a press conference, INEC president and chief executive officer Emil Andre Garcia said… Read More
Q3 economic growth, feat for PH: FINEX
November 9, 2021, 8:18 pm
MANILA – The Financial Executives Institute of the Philippines (FINEX) has dubbed as “a feat” the economy’s third-quarter performance.“It was truly a feat considering the reimposition of ECQ (enhanced community quarantine) and the typhoons in several parts of the country,” FINEX… Read More
Technological adoption helps boost PH economic recovery: report
November 9, 2021, 8:14 pm
MANILA – Ayala-led Bank of the Philippine Islands (BPI) forecasts sustained growth of the domestic economy in the last quarter of 2021 on strong adoption of technology both in production and other economic activities. In a report on Tuesday, the bank said the domestic economy expanded by 7.1… Read More
Normalized growth of at least 5.5% seen for PH in Q4
November 9, 2021, 7:37 pm
MANILA – An economist forecasts a gross domestic product (GDP) of at least 5.5 percent next quarter, citing the lower figure to growth normalization. This, after the Philippine economy surpassed expectations posting a 7.1-percent expansion in the third quarter. “Easing of low… Read More
Gov't reiterates support to PH shrimp industry
November 9, 2021, 7:21 pm
MANILA – Key government officials reiterated their support for the growth of the shrimp industry, one of the major aquaculture commodities in the country, during the virtual 13th Philippine Shrimp Congress. Senator Cynthia Villar, Chairperson of the Senate Committee on Agriculture and Food,… Read More
Stocks, peso up on higher-than-expected Q3 GDP
November 9, 2021, 6:55 pm
MANILA – Better-than-expected domestic growth for the third quarter this year buoyed both the main equities index, which posted its highest close so far this year and the peso, which touched the 49-level, on Tuesday. The Philippine Stock Exchange index (PSEi) rose by 0.61 percent, or 45.45… Read More
Diokno eyes exceeding economic growth goal for 2021
November 9, 2021, 6:20 pm
MANILA – The government’s 4 percent to 5 percent growth assumption for this year may likely be surpassed following the higher-than-expected domestic output in the third quarter of the year, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said. In a Viber message to journalists on… Read More
CREATE law pushes conglomerate’s net income higher
November 9, 2021, 6:15 pm
MANILA – Diversified engineering conglomerate DMCI Holdings Inc. booked a record high core net income in the first nine months of the year, as it reaps benefits of a lower income tax under the Corporate Recovery and Tax Incentives for Enterprises (CREATE) law. In a report, DMCI Holdings said… Read More
