Business
PSEi finishes week down but peso keeps footing
October 8, 2021, 7:38 pm
MANILA – The Philippine Stock Exchange index (PSEi) ended Friday in the red partly on rebalancing in the local bourse while the peso finished sideways against the US dollar. The main equities index shed 0.64 percent, or 44.44 points, to 6,906.86 points. All Shares went down by 0.37 percent, or… Read More
NOLCO 5-year extension covers 2021 losses: DOF exec
October 8, 2021, 7:19 pm
MANILA – Small businesses have been given additional tax relief after lawmakers included deficiencies incurred in 2021 in the five-year extension of the net operating loss carry-over (NOLCO). “The original law, which is the Bayanihan Law, covers the 2020 losses from the (coronavirus disease… Read More
BSP's 28-day bill rate rise anew on robust demand
October 8, 2021, 5:30 pm
MANILA – The Bangko Sentral ng Pilipinas (BSP) on Friday reported another uptick in the rate of its 28-day Bill as demand continues to remain robust. In a statement, the central bank said the average rate of the debt paper, which is among the central bank’s tools to siphon off excess liquidity… Read More
Tax people based on consumption, not income: Diokno
October 8, 2021, 5:29 pm
MANILA – Taxing people based on their consumption is better than taxing them based on their income, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said. In a Laging Handa briefing on Friday, Diokno reiterated his earlier stand on the issue, saying "it’s better to tax people on the… Read More
Cebu farmers' group gets P500-K livelihood capital from DOLE
October 8, 2021, 3:48 pm
CEBU CITY – The Department of Labor and Employment in Central Visayas (DOLE-7) has awarded a livelihood grant of PHP500,000 to the Small Coconut Farmers and Farm Workers Association of Tabuelan town in northern Cebu. The grant provides working capital to support the association’s cattle… Read More
Authorities eye more refinements in BSP's gold buying policies
October 8, 2021, 2:52 pm
MANILA – Exempting small-scale miners from paying income and excise taxes resulted in around 1,000 percent jump in Bangko Sentral ng Pilipinas’ (BSP) gold purchases in 2020 and more refinements are still in the pipeline to support this. In a virtual briefing on Friday, BSP Mint and Refinery… Read More
Ramped up vax drive to spur PH economy
October 7, 2021, 8:20 pm
MANILA – An economist of Asean+3 Macroeconomic Research Office (AMRO) forecasts a recovery of the Philippine economy starting this year given the stepping up of the government’s vaccination program. In a virtual briefing on Thursday, AMRO chief economist Dr. Hoe Ee Khor said they slashed… Read More
Australia lifts anti-dumping measure on PH canned pineapples
October 7, 2021, 8:12 pm
MANILA – Australia decided to lift its anti-dumping measure on Philippine canned pineapples, 15 years after it was first imposed. This means that, under the Asean-Australia-New Zealand Free Trade Agreement (AANZFTA), the Philippines can now export canned pineapples duty-free to Australia once… Read More
Sustained growth in bank lending seen as economy recovers
October 7, 2021, 8:12 pm
MANILA – Expectations for an economic recovery starting this year can boost demand for loans, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said. In a briefing streamed through the central bank’s Facebook page on Thursday, Diokno said credit growth registered an expansion last… Read More
Public-private trademark program to help MSMEs go global launched
October 7, 2021, 8:08 pm
MANILA – The Intellectual Property Office of the Philippines (IPOPHL) launched on Thursday the Juan for the World (JFTW) Program, a Department of Trade and Industry (DTI) and private-sector backed initiative that will enable 100 micro, small and medium enterprises (MSMEs) to protect their… Read More
Easing of restrictions, vax program to boost economic recovery
October 7, 2021, 7:28 pm
MANILA – Refinements on the government’s movement restrictions rules, as well as the strengthened implementation of the vaccination program, are expected to boost economic recovery this year. “We think that these will be key factors in sustaining the recovery that we have observed… Read More
Stocks slip on profit-taking; peso strengthens
October 7, 2021, 5:47 pm
MANILA – The local stock barometer finished Thursday in the negative territory as investors trooped back to the US and other Asian bourses, but the peso gained against the US dollar. After rising to the 7,000-level on Wednesday, the Philippine Stock Exchange index (PSEi) shed 1.50 percent, or… Read More
Gov’t, food firm program helps potato farmers raise yield
October 7, 2021, 5:34 pm
MANILA – Potato farmers have found a lifeline in a project initiated by Universal Robina Corp. (URC) with the government, allowing them to thrive amid a devastating pandemic. In support of the Duterte administration’s major initiative of fostering a more productive and progressive agriculture… Read More
Shorter quarantine for travelers to attract more FDIs
October 7, 2021, 5:28 pm
MANILA – Department of Trade and Industry (DTI) Secretary Ramon Lopez said Thursday reducing the period for quarantine for travelers will also encourage more foreign direct investments (FDIs) in the country. During the Laging Handa briefing, Lopez said many foreign investors are discouraged… Read More
No intent to violate mobile number portability: Globe
October 7, 2021, 4:57 pm
MANILA – Globe Telecom Inc. (Globe) on Thursday said there is no “malice or intent to violate” the mobile number portability (MNP) law after the delayed MNP implementation of GOMO, a mobile service provider operated by the company. In a statement, Globe said the MNP service for GOMO will… Read More
DBP approves P40-B infra loans
October 7, 2021, 2:30 pm
MANILA — State-owned Development Bank of the Philippines (DBP) has approved PHP39.5 billion in loans under its flagship credit program that aims to address funding gaps in infrastructure development in the country, a top official said. In a statement Thursday, DBP president and chief executive… Read More
BCDA remittance to gov’t hits PHP128-B in nearly 3 decades
October 7, 2021, 2:26 pm
MANILA – The Bases Conversion and Development Authority (BCDA) has contributed a total of PHP128 billion to the national government for nearly 30 years, BCDA president and chief executive officer Vivencio Dizon said. Reporting to President Rodrigo Duterte during the Talk to the People… Read More
Cebu biz group, animators tie up to develop animation industry
October 7, 2021, 2:11 pm
CEBU CITY – The animation industry in Cebu is headed for a bright future as the Cebu Chamber of Commerce and Industry (CCCI) and the Animation Council of the Philippines Inc. (ACPI) have signed a memorandum of understanding to cooperate in the development of the industry. The agreement intends… Read More
Stocks breach 7,000-level on risk-on sentiments; peso weakens
October 6, 2021, 6:56 pm
MANILA – Risk-on sentiments reigned in the local bourse on Wednesday, with the main index rising to the 7,000-level, but the peso weakened against the US dollar. The main equities index increased by 1.09 percent, or 76.21 points, to 7,057.45 points. All Shares also gained during the day after… Read More
Oil price hikes minimal impact on power rates: DOE
October 6, 2021, 5:36 pm
MANILA – The recent increases in oil prices will have minimal impact on power rates, Department of Energy (DOE) Assistant Secretary Gerardo Erguiza Jr. said Wednesday. During the Laging Handa briefing, Erguiza said “very few” power plants in the country are fueled by oil. Most of the… Read More
