Business
Gov't raises allowed occupancy in biz establishments
October 24, 2021, 4:27 pm
MANILA – Business establishments allowed to open in their localities which are issued a safety seal will be granted an increase of 10 percentage points in operational or venue capacity with the issuance of the latest joint guidelines from five government regulatory agencies. The latest… Read More
PH stocks index slips; peso ends sideways vs. US dollar
October 22, 2021, 6:07 pm
MANILA – The Philippines’ main equities index ended the week on the red due to correction after days of rally but the peso kept its footing against the greenback. The Philippine Stock Exchange index (PSEi) lost 0.30 percent, or 22.11 points, to 7,289.61 points. All Shares followed with a… Read More
BSP's 28-day Bills' rate declines anew
October 22, 2021, 6:02 pm
MANILA – High domestic liquidity condition continues to drive the demand for Bangko Sentral ng Pilipinas’ (BSP) 28-day Bills, which posted a lower rate on Friday. BSP offered the debt paper for PHP100 billion and tenders reached PHP156.810 billion. The auction committee made a full award. The… Read More
SoKor firm investing P5-B for e-vehicle plant in PH
October 22, 2021, 4:50 pm
MANILA – South Korean firm ENPlus Co. Ltd. is investing PHP5 billion in the Philippines to put up its electric vehicle manufacturing facility, the Philippine Economic Zone Authority (PEZA) reported Friday. PEZA director general Charito Plaza said ENPlus will be the first e-vehicle manufacturer… Read More
Vaccination must be mandatory in select industries: Palace exec
October 22, 2021, 4:45 pm
MANILA – A Palace adviser wants to make mandatory the vaccination against the coronavirus disease 2019 (Covid-19) among workers in labor-intensive and high-risk businesses. Presidential Adviser for Entrepreneurship and Go Negosyo founder Joey Concepcion said in a statement Friday that he has… Read More
AirAsia PH to rehire laid-off employees
October 22, 2021, 2:50 pm
MANILA – With the increasing resumption of travel and utilization of aircraft, rehiring of laid-off employees is among the priorities of AirAsia Philippines, chief executive officer Ricardo Isla announced on Friday. "Rehiring employees is our top priority. (Rehiring them would likely be) by… Read More
DOE wants to tap oil excise tax collection for fuel subsidy
October 22, 2021, 2:45 pm
MANILA – The Department of Energy (DOE) eyes to tap the proceeds from the excise tax on petroleum products as fuel subsidy amid rising pump prices. In a press conference Friday, DOE Assistant Secretary Gerardo Erguiza Jr. said there is a provision in the Tax Reform for Acceleration and Inclusion… Read More
Cebu’s booming SRP district seen to create more jobs
October 22, 2021, 12:10 pm
CEBU CITY – The major developments at the South Road Properties (SRP) district in Cebu City are projected to drive property values in nearby areas particularly the neighboring city of Talisay and to generate employment in Metro Cebu, where economic activity is picking up. This positive… Read More
PH economy still needs continued monetary policy boost: Diokno
October 21, 2021, 7:41 pm
MANILA – The domestic economy still needs sustained monetary policy support as inflation remains elevated and growth is still fragile due to the impact of the pandemic and other international factors. Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno, in his speech during the 2021… Read More
Gov't to lose P131-B from proposed fuel excise tax deferment
October 21, 2021, 5:46 pm
MANILA – Around PHP131.4 billion worth of government revenues are seen to be lost in 2022 if the proposed suspension of excise tax on petroleum products will be passed by lawmakers, the Department of Finance (DOF) said on Thursday. Specifically, around PHP24.7 billion will not be collected by… Read More
PH stocks index rises; peso moves sideways vs. USD
October 21, 2021, 5:43 pm
MANILA – The Philippines’ main stocks index rose on Thursday tracking US counterparts but the peso finished barely changed against the greenback. The Philippine Stock Exchange index (PSEi) increased by 0.20 percent, or 14.64 points, to 7,311.72 points. All Shares inched up by 0.19 percent, or… Read More
Easing of travel restrictions benefitting PH property mart
October 21, 2021, 4:19 pm
MANILA – The easing of travel restrictions, especially for foreigners, has positive impacts on the Philippine real estate market, a property advisory firm said. Leechiu Property Consultants (LPC) chief executive officer David Leechiu said one of the positive outcomes of relaxing travel… Read More
DOF chief cites LGUs’ role in PH economic recovery
October 21, 2021, 3:12 pm
MANILA – Local government units (LGUs) play a vital role in restoring consumer confidence and domestic demand, which are among the key factors in the domestic economy’s recovery, Finance Secretary Carlos G. Dominguez said on Thursday. In his speech during the Bureau of Local Government… Read More
Oil firm offers businesses ‘solution’ vs. volatile fuel prices
October 21, 2021, 3:00 pm
MANILA – With the fluctuating prices of petroleum products, a local oil industry player provides solutions for businesses to hedge against fuel price hikes. Seaoil Philippines has partnered with financial technology firm LOCQ, OPC for a fleet management solution called PriceLOCQ for Business… Read More
Gov't eyes closure of coal-fired power plants in Mindanao
October 20, 2021, 8:22 pm
MANILA – The government plans to close coal-fired power plants in Mindanao once it finds the financing needed to improve the generating capacity of Agus-Pulangi hydropower plant, a move aimed to help address climate change. In his speech during the virtual launch of the Sustainable Finance… Read More
QR PH program to further boost digital payments
October 20, 2021, 8:10 pm
MANILA – A bank executive has cited the Bangko Sentral ng Pilipinas’ (BSP) payment system using the quick response (QR) code as a catalyst to further boost digital payments in the country. In a virtual briefing on Wednesday, Asia United Bank (AUB) executive vice president Wilfredo Rodriguez… Read More
BSP eyes another program to strengthen coop banks
October 20, 2021, 8:05 pm
MANILA – Another program aimed to further strengthen cooperative banks (coop banks) is now “under consideration,” Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said. During a virtual briefing streamed through BSP’s Facebook page on Wednesday, Diokno said the central bank… Read More
Imported vehicle sales up in September
October 20, 2021, 7:47 pm
MANILA – Vehicle importers are becoming more optimistic towards the end of the year as sales of outsourced cars increased in September. The Association of Vehicle Importers and Distributors (AVID) on Wednesday reported that sales last month grew 26 percent to 4,946 units from 3,919 units sold… Read More
PH stocks up on US earnings reports; peso weakens
October 20, 2021, 7:19 pm
MANILA – The Philippines Stock Exchange index (PSEi) closed higher Wednesday as investors bet on positive earnings reports of listed firms in the United States while the peso ended sideways against the greenback. The local stock barometer went up by 0.42 percent, or 30.77 points, to 7,297.08… Read More
Expect oil prices to further go up until early 2022: DOE chief
October 20, 2021, 7:14 pm
MANILA – Department of Energy (DOE) Secretary Alfonso Cusi said prices of petroleum products are expected to further increase until early next year with the current shortage in oil supply in the world market. In an interview with ABS-CBN News Channel Wednesday, Cusi attributed the oil price… Read More
