Business
Infra improvements boost e-commerce growth
August 17, 2021, 8:33 pm
MANILA – Infrastructure improvements are among the factors that will further boost electronic commerce (e-commerce) in the country, along with demographics and people’s ability to adapt to innovations. In a virtual briefing on Tuesday, Foxmont Capital Partners Managing Partner Franco Varona… Read More
Stocks, peso rise as investors weigh economic dev't
August 17, 2021, 7:09 pm
MANILA – Wait-and-see stance ahead of more earnings reports, as well as the economic turn-out amid the pandemic, resulted in the positive close of the local main equities index and the peso on Tuesday. The Philippine Stock Exchange index (PSEi) rose by 0.73 percent, or 47.73 points, to… Read More
BIR reminds social media influencers to pay correct taxes
August 17, 2021, 7:02 pm
MANILA – Authorities have yet to determine revenue leakages from social media influencers, thus the requirement for this sector to register and pay correct taxes, a ranking Department of Finance (DOF) official said. “The BIR (Bureau of Internal Revenue) is studying it right now. They are… Read More
Vax program, healthcare system investment aid PH economy
August 17, 2021, 5:09 pm
MANILA – The vaccination program and increased investment on the healthcare system are the primary factors that are helping buoy the Philippine economy from the pandemic, Finance Secretary Carlos Dominguez III said. In a virtual briefing on Tuesday, Dominguez declined to give indications on… Read More
More mobility for vaxxed individuals eyed in future protocols
August 17, 2021, 5:05 pm
MANILA – Vaccinated individuals can be given more mobility than unvaccinated ones when the government changes protocols once the target number for coronavirus disease 2019 (Covid-19) inoculation is achieved, a member of the Inter-Agency Task Force for the Management of Emerging Infectious… Read More
BTr fully awards 25-year T-bond on strong demand
August 17, 2021, 3:56 pm
MANILA – Government securities continued to attract investors as shown by the strong demand for the 25-year Treasury bond (T-bond) on Monday. The Bureau of the Treasury (BTr) offered the debt paper for PHP35 billion, and bids reached PHP55.949 billion. The auction committee made a full… Read More
Baguio gives P200-K economic stimulus to MSMEs
August 17, 2021, 3:38 pm
BAGUIO CITY – The city government has increased the loan amount of its economic stimulus for micro, small and medium enterprises (MSMEs) to PHP200,000 and even eased the rules to entice existing and start-up business owners to avail of the zero-interest loan assistance. Aileen Refuerzo, chief… Read More
No politics behind thinning of power reserves during May election
August 17, 2021, 1:54 pm
MANILA – The Department of Energy (DOE) said there are no political reasons behind the projected thinning of power reserves during the week of election next year, and no power interruption is expected during the period. In a press conference Tuesday, DOE Undersecretary Felix William Fuentebella… Read More
Stocks up on bargain hunting; pandemic concerns hurt peso
August 16, 2021, 8:04 pm
MANILA – Bargain hunting boosted the local stock barometer on Monday but the peso weakened partly on concerns about the rising coronavirus disease 2019 (Covid-19) cases due to the Delta variant. The Philippine Stock Exchange index (PSEi) gained 3.06 percent, or 193.49 points, to 6,513.68… Read More
T-bill rates little changed this week
August 16, 2021, 6:36 pm
MANILA – The rates of 91-day and 364-day Treasury bills (T-bills) moved sideways on Monday but the rate of the 182-day paper was steady, all of which were in line with secondary market levels. The average rate of the 91-day paper moved at 1.066 percent, the 182-day paper to 1.407 percent, and… Read More
SoKor lifts ban on PH chicken meat, pet birds imports
August 16, 2021, 5:23 pm
MANILA – The Philippine Agriculture Office (PAO) in Seoul, South Korea announced that they have already obtained the final approval of the Korean government to lift the temporary prohibition of chicken meat and pet birds (birds other than poultry) imports from the Philippines. Maria Alilia… Read More
Diesel, kerosene prices down this week
August 16, 2021, 5:14 pm
MANILA – Oil firms will roll back prices of diesel and kerosene starting Tuesday morning. In separate advisories, Caltex, Cleanfuel, Petro Gazz, PTT Philippines, Seaoil, and Shell will cut diesel prices by PHP0.30 per liter. Caltex, Seaoil, and Shell will also reduce kerosene prices by PHP0.40… Read More
ARTA chief hopes next leader will continue EODB reforms
August 16, 2021, 4:33 pm
MANILA – Anti-Red Tape Authority (ARTA) director general Jeremiah Belgica hopes that the next leadership will continue the reforms in Ease of Doing Business (EODB) in government offices rolled out by the Duterte administration. In a virtual forum Monday, Belgica said the country needs advocacy… Read More
7-Eleven starts vaccinating employees nationwide
August 16, 2021, 3:33 pm
MANILA – Philippine Seven Corporation (PSC), the exclusive licensor of 7-Eleven in the Philippines, has started to vaccinate its employees and their dependents against the coronavirus disease 2019 (Covid-19) for free, supporting the government’s inoculation efforts and fast-tracking the… Read More
Cebu housing market seen to stay robust amid pandemic
August 16, 2021, 2:30 pm
CEBU CITY – The housing market has remained resilient in Cebu and the rest of the Visayas, which are projected to benefit from the economic revival post-pandemic, a real estate industry leader said on Monday. “Housing has proven to be resilient and sustainable since it is now, more than… Read More
BSP ready to use appropriate monetary policy tools vs. inflation
August 13, 2021, 8:55 pm
MANILA – The Bangko Sentral ng Pilipinas (BSP) stands ready to deploy appropriate monetary policy tools necessary to safeguard price and financial stability goals, BSP Governor Benjamin Diokno said. “In any case, the BSP remains vigilant of evolving global and domestic price conditions…,”… Read More
BIR files 84 cases before DOJ to collect P3.15-B tax liabilities
August 13, 2021, 7:47 pm
MANILA – The Bureau of Internal Revenue (BIR) has filed 84 complaints before the Department of Justice (DOJ) against suspected tax evaders involving PHP3.15 billion in estimated tax liabilities in the first half of 2021. According to a report to Finance Secretary Carlos Dominguez III, the BIR… Read More
Delta Covid-19 variant worries weaken stocks, peso
August 13, 2021, 6:56 pm
MANILA – Concerns about the continued rise in coronavirus disease 2019 (Covid-19) infections due to the Delta variant partly affected the Philippine Stock Exchange index (PSEi) and the peso on Friday. The main equities gauge ended the week at 6,320.19 points, down 3.61 percent or 236.38… Read More
DBP, DA partner to boost cash aid disbursement
August 13, 2021, 6:10 pm
MANILA – The state-owned Development Bank of the Philippines (DBP) has signed a memorandum of agreement (MOA) with the Department of Agriculture (DA) to facilitate the disbursement of financial assistance to the agriculture sector. DBP president and chief executive officer Emmanuel Herbosa said… Read More
BSP 28-day securities rate falls anew on strong demand
August 13, 2021, 4:52 pm
MANILA – The high domestic liquidity situation continued to drive the Bangko Sentral ng Pilpinas’ (BSP) 28-day securities’ rate which again fell on Friday. Data released by the central bank showed that the average rate of the debt paper dropped to 1.7487 percent from 1.7619 percent during… Read More
