Business
Global gov't debt rises $13T during pandemic: Moody's
October 20, 2021, 6:38 pm
ANKARA – Global outstanding government debt grew around $13 trillion in 2020 during the pandemic, carrying the total to over $83 trillion, due to increased spending to combat the virus and protect households and businesses from economic disaster, according to Moody's on Tuesday. "The… Read More
Gov’t support in driving IT-BPM sustained growth cited
October 20, 2021, 5:13 pm
CEBU CITY – The information technology and business process management (IT-BPM) industry has consistently proven its resilience and continues to generate thousands of new jobs per year thus becoming a major source of foreign exchange because of government support, an industry leader on Wednesday… Read More
DTI chief pushes for at-home Covid-19 testing in ‘new normal’
October 20, 2021, 4:44 pm
MANILA – Rapid test kits should be available at home as the country moves toward the ‘new normal’, the top trade official said Wednesday. “Our SOP -- standard operating procedure -- should be that each person has an antigen test (kits) on your own,” Department of Trade and Industry… Read More
Better Christmas ahead as restrictions ease: DTI chief
October 20, 2021, 3:45 pm
MANILA – Department of Trade and Industry (DTI) Secretary Ramon Lopez said Filipinos will have a better Christmas season this year than 2020 with the easing of restrictions and increasing vaccination rate. In an interview with Radyo Pilipinas Wednesday, Lopez said economic activities are much… Read More
Cebu business group head backs BSP rate stance
October 20, 2021, 2:32 pm
CEBU CITY – A top business leader here on Wednesday expressed support to the Bangko Sentral ng Pilipinas’ (BSP) stand that raising interest rates too early will cause more harm to the recovery of the Philippine economy. “The Cebu Chamber of Commerce and Industry (CCCI) supports BSP… Read More
Google PH study shows huge potential of digital enterprises
October 19, 2021, 8:26 pm
MANILA – Given the opportunity to start a business with little capital through digital platform, economics consultancy firm AlphaBeta estimates that Filipinos could earn PHP5 trillion by 2030. The firm recently finished a study commissioned by Google Philippines to examine the economic… Read More
Agri sector seen to remain resilient with more financing boost
October 19, 2021, 7:48 pm
MANILA – The agriculture sector is expected to remain resilient with increased access to financing despite the contraction of its share in domestic output in the second quarter of 2021 and the impact of weather-related disturbances. In a reply to emailed questions from Philippine News… Read More
GSIS offers penalty condonation to gov't agencies
October 19, 2021, 7:40 pm
MANILA – The Government Service Insurance System (GSIS) is urging government agencies to pay unremitted premium contributions to avail of penalty condonation. "We encourage government agencies to enter into a memorandum of agreement (MOA) with GSIS to assist you in settling the unremitted… Read More
Bargain hunting lifts stocks index, peso
October 19, 2021, 6:31 pm
MANILA – A decline of oil prices overnight partly improved the risk-on sentiments in the local bourse resulting in the positive close of both the main equities index and the peso on Tuesday. The Philippine Stock Exchange index (PSEi) increased by 0.64 percent, or 46.50 points, to 7,266.31… Read More
BCDA names new head as Dizon leaves post
October 19, 2021, 4:41 pm
MANILA – Aristotle Batuhan is now leading the Bases Conversion and Development Authority (BCDA) after its former president and chief executive officer (CEO) Vivencio Dizon resigned from his post. The BCDA confirmed in a statement Tuesday that Batuhan was appointed as officer-in-charge of the… Read More
BTr fully rejects bids for 10-year T-bond due to high rates
October 19, 2021, 3:47 pm
MANILA – The Bureau of the Treasury (BTr) rejected all bids for the 10-year Treasury bond (T-bond) during an auction on Tuesday after investors asked for high yield. Had the auction committee awarded the debt paper, the average rate of the T-bond would have risen to 4.883 percent from 3.185… Read More
Cebu exec favors vaccination of all workers vs. Covid-19
October 19, 2021, 1:33 pm
CEBU CITY – Food and beverage establishments in Cebu supporting the call to self-regulate their health and safety protocols must vaccinate all their employees for protection against coronavirus disease 2019 (Covid-19), a Cebu provincial official said on Tuesday. Glenn Anthony Soco, a member of… Read More
P919-M biomass plant to start operation in December
October 19, 2021, 1:31 pm
MANILA – The Board of Investments (BOI) has approved a PHP919-million biomass plant of Libertad Power and Energy Corp. that will start operation by December this year. The biomass plant is in Aurora, Zamboanga del Sur, and has a capacity of six megawatts. The BOI said the biomass plant will be… Read More
Craft contingency plan to insulate PH from China's slowdown
October 18, 2021, 8:17 pm
MANILA – The chair of the House Ways and Means Committee on Monday said the country's economic managers should prepare a contingency plan to insulate the Philippines from spillover effects as China's economic growth slowed to 4.9 percent in the third quarter amid the debt crisis surrounding… Read More
T-bill rates move sideways after BSP statement
October 18, 2021, 8:03 pm
MANILA – The Treasury bill (T-bill) rates were little changed on Monday following Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno’s statement on the timing of policy rate adjustment. The average rate of the 91-day debt paper moved to 1.113 percent, the 182-day to 1.390 percent, and… Read More
New Zealand joins APEC efforts to undertake business ethics pacts
October 18, 2021, 7:59 pm
JAKARTA – The Asia-Pacific Economic Cooperation (APEC) reinforces the importance of ethical business conduct for small businesses in the health sector by expanding implementation of ethics pacts, as New Zealand launches a consensus framework to intensify ethical collaboration in its health… Read More
PSEi ends sideways ahead of US economic data; peso weakens
October 18, 2021, 7:08 pm
MANILA – The main stocks index closed sideways on Monday as investors awaited new economic data from the United States while the peso weakened against the greenback. The Philippine Stock Exchange index (PSEi) rose 0.09 percent, or 6.35 percent, to 7,219.81 points. All Shares went down by… Read More
PH to boost irradiation capability with new P549-M facility
October 18, 2021, 5:10 pm
MANILA – The Board of Investments (BOI) has approved the PHP548.7-million project of Irradiation Solutions, Inc. (ISI), the second irradiation facility in the country. In a statement Monday, BOI said ISI will start commercial operation of the Tanay Multipurpose Irradiation Facility by June… Read More
PH firms seen to raise salary budget by 5.6% in 2022
October 18, 2021, 5:06 pm
MANILA – Philippine-based companies are optimistic about their businesses next year as employers plan to expand the average salary budget by 5.6 percent by 2022, the latest survey of global advisory, broking, and solutions company Willis Towers Watson said. The projected salary increase in the… Read More
Oil prices up for 2nd straight month
October 18, 2021, 4:36 pm
MANILA – Oil companies will implement another round of big-time hikes on their pump prices starting Tuesday morning. In separate statements, Caltex, Cleanfuel, Petro Gazz, PTT Philippines, Seaoil, and Shell will raise diesel prices by PHP1.50 per liter and gasoline by PHP1.80 per… Read More
