Business
Groups call for EO issuance to defer SSS contribution hike
September 29, 2021, 3:55 pm
MANILA – At least 10 business and labor groups have appealed to President Rodrigo Duterte to issue an Executive Order (EO) to defer the monthly contribution hike in the Social Security System (SSS). In a statement Wednesday, the groups said an EO is needed to implement the postponement of SSS… Read More
PEZA eyes more investments from Taiwan
September 29, 2021, 3:23 pm
MANILA – The Philippine Economic Zone Authority (PEZA) is targeting to lure more investments from Taiwan with the signing of the bilateral investment agreement and the New Southbound Trade Treaty between the two economies. PEZA deputy director general Tereso Panga said in his personal social… Read More
Digitization fuels firms' resilience during pandemic
September 28, 2021, 8:40 pm
MANILA – Companies have cited technological innovations and the shift towards digitization before the pandemic as key to building resilience during the coronavirus disease 2019 (Covid-19) pandemic, while noting the importance of government measures towards digitalization. In a virtual… Read More
DTI provides livelihood aid to 120 Bulacan microenterprises
September 28, 2021, 8:01 pm
MALOLOS CITY, Bulacan – The Department of Trade and Industry (DTI) here has provided livelihood assistance to 120 microenterprises in this province under its Livelihood Seeding Program–Negosyo Serbisyo sa Barangay (LSP-NSB). DTI provincial director Edna D. Dizon said on Tuesday the LSP-NSB… Read More
Stocks snap 5-day climb; peso flat vs. US dollar
September 28, 2021, 7:20 pm
MANILA – The local stock barometer snapped a five-day winning streak on Tuesday amid the challenging session in the region following the hikes in US Treasuries, but the peso ended flat against the US dollar. The Philippine Stock Exchange index (PSEi) lost 1.02 percent, or 70.9 points, to… Read More
Biz seeks higher capacity, allow unvaxxed under Alert Level 3
September 28, 2021, 6:41 pm
MANILA – Presidential Adviser for Entrepreneurship Joey Concepcion has recommended to the Inter-Agency Task Force for the Management of Emerging Infectious Diseases to increase the allowed capacity of business establishments and permit unvaccinated individuals in these establishments in areas… Read More
10-year T-bond rate rises on strong demand
September 28, 2021, 5:49 pm
MANILA – An appetite for government securities remained strong and resulted in the uptick of the 10-year Treasury bond’s (T-bond) rate on Tuesday. The average rate of the debt paper rose to 4.689 percent from 4.245 percent previously. The Bureau of the Treasury (BTr) offered the debt… Read More
PH contact center sector to outpace global growth in 2021
September 28, 2021, 5:22 pm
MANILA – Riding the pace of the global industry, the Philippines contact center sector is forecasted to rebound this year. According to the Contact Center Association of the Philippines (CCAP), revenues of the local industry will increase by 9 percent, higher than the 7 to 8 percent global… Read More
New registration system for tax incentives to lure investments
September 28, 2021, 4:29 pm
MANILA – The chairman of the House Ways and Means Committee on Tuesday said the newly-launched unified registration portal for applicants for tax incentives would help fast-track applications, reduce the amount of administrative discretion, and promote more investments. In a statement, Albay… Read More
Cebu biz group eyes P500-M annual revenue for creative sector
September 28, 2021, 3:58 pm
CEBU CITY – The Cebu Chamber of Commerce and Industry (CCCI) has expressed support for the development of the creative entertainment sector here so it could achieve PHP500 million in annual revenue in the next two years, and PHP30 billion by 2030. “The initial target for Cebu is we want to… Read More
Health measures key to economic rebound: Diokno
September 28, 2021, 3:56 pm
MANILA – Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said economic rebound largely depends on health-related measures by the government and the public’s cooperation even as the economy continues to show green shoots of recovery. In his speech during the virtual Regional… Read More
Japan’s JERA, Aboitiz partnership to boost PH power sector
September 28, 2021, 2:32 pm
MANILA – The investment and partnership of Japan’s largest power generation company with AboitizPower Corp. is expected to support the development of the country’s power sector. In a press conference Tuesday, Aboitiz Group president and chief executive officer, Sabin Aboitiz, announced that… Read More
BAP supports greater mobility for fully vaxxed individuals
September 27, 2021, 6:52 pm
MANILA – Bank executives have backed the move to grant fully vaccinated individuals greater mobility, citing its contribution to the domestic economy’s recovery from the pandemic. “With more than 50 percent of the population vaccinated in the metropolitan and adjacent areas where most… Read More
Peso weakens to 18-month low; stocks end sideways
September 27, 2021, 6:42 pm
MANILA – The peso declined Monday to its lowest level in more than a year due to general strength of the greenback on possible Federal Reserve easing, while the local stock barometer ended sideways as investors weighed options before the third quarter’s end. The local currency depreciated… Read More
BTr hikes award for 1-year T-bill on strong demand, lower rate
September 27, 2021, 5:30 pm
MANILA – The Bureau of the Treasury (BTr) doubled the accepted volume of non-competitive bids for the one-year Treasury bill (T-bill) on Monday, and fully awarded both the three- and six-month papers due to strong demand. All tenors were offered for PHP5 billion but the auction committee… Read More
Oil prices up for 5th straight week
September 27, 2021, 4:51 pm
MANILA – Pump prices rise for five consecutive weeks as oil firms will implement another price hike starting Tuesday morning, In separate advisories, Caltex, Cleanfuel, Petro Gazz, Petron, Phoenix Petroleum, PTT Philippines, Seaoil, and Shell said gasoline prices will increase by PHP0.55 per… Read More
Over half of large firms maintain, hike employment amid pandemic
September 27, 2021, 4:04 pm
MANILA – A survey conducted by the Management Association of the Philippines (MAP), the Institute of Corporate Directors (ICD), and the Makati Business Club (MBC) showed that large firms have maintained or even increased their headcount amid the ongoing coronavirus disease 2019 (Covid-19)… Read More
PH official dev’t assistance hits $30.7 billion in 2020
September 27, 2021, 3:21 pm
MANILA – The Philippines' active official development assistance (ODA) portfolio reached USD30.7 billion last year, a 46.6 percent increase from the previous USD20.9 billion in 2019, the National Economic and Development Authority (NEDA) reported Monday. Based on NEDA’s recently released… Read More
Gym part of essential sectors: DTI
September 27, 2021, 3:17 pm
MANILA – Fitness clubs and centers should be part of essential sectors that are allowed to operate under Alert Level 4, Department of Trade and Industry (DTI) Secretary Ramon Lopez said. During the Palace briefing Monday, Lopez said the gym operators have appealed to the government to consider… Read More
Fitch Solutions ups BSP rate hikes, inflation forecasts for 2022
September 27, 2021, 2:35 pm
MANILA – Pressures from the looming United States (US) rate tightening and the elevated inflation rate made Fitch Solutions revise its Bangko Sentral ng Pilipinas (BSP) rate hike forecasts from 50 basis points to 75 basis points for 2022. In a report, the country risk and industry research… Read More
