Business
Extended ECQ to aggravate health, economic crisis: PCCI
August 13, 2021, 4:23 pm
MANILA – With several projections on coronavirus cases made by the Department of Health (DOH), including a five-week enhanced community quarantine (ECQ), the Philippine Chamber of Commerce and Industry (PCCI) was quick to express its opposition to longer lockdowns. In a statement Friday, PCCI… Read More
Power firm boosts Covid-19 inoculation for workers' protection
August 13, 2021, 3:21 pm
CEBU CITY – In line with the government’s goal of achieving population protection by vaccinating at least 70 percent of Filipinos against coronavirus disease 2019 (Covid-19), Aboitiz Power Corp. announced on Friday it is ramping up its vaccination program for employees, with over 1,300 team… Read More
More economic boosts from BSP eyed
August 13, 2021, 2:17 pm
MANILA – An economist forecasts more stimulus measures from the Bangko Sentral ng Pilipinas (BSP) as the economy continues to battle the pandemic's impact. In a report, ING Bank Manila senior economist Nicholas Mapa said he expects monetary authorities to keep the central bank's accommodative… Read More
Fitch Solutions eyes steady BSP rates until late 2022
August 13, 2021, 1:41 pm
MANILA – Fitch Solutions discounts any reduction in the key rates of the Bangko Sentral ng Pilipinas (BSP) until late 2022 to further support economic recovery, given that inflation remains elevated, but projects a cut in banks’ reserve requirement ratio (RRR) as an easing measure. In a… Read More
Stocks, peso weaken on latest MSCI rebalancing
August 12, 2021, 7:59 pm
MANILA – The Philippine Stock Exchange index (PSEi) ended Thursday in the negative territory, partly on the Morgan Stanley Capital International (MSCI) rebalancing results ahead of the same adjustments in the local bourse, and the decline was mirrored by the peso. The main equities index shed… Read More
Fed policy normalization expectation fuels recent peso weakness
August 12, 2021, 7:49 pm
MANILA – Anticipation of the normalization of Federal Reserve’s monetary policy is among the primary reasons for the recent weakness of the Philippine peso against the greenback, a ranking Bangko Sentral ng Pilipinas (BSP) official said. In a briefing streamed through the BSP’s Facebook… Read More
BSP keeps key rates steady anew
August 12, 2021, 7:29 pm
MANILA – Monetary authorities on Thursday kept the central bank’s key rates steady after noting the rise in the 2021 to 2023 inflation forecasts due to hikes in global commodity prices, weaker peso, and downside risks to economic growth amid the pandemic. The Bangko Sentral ng Pilipinas’… Read More
Wholesale food market benefits S. Luzon fisherfolk, farmers
August 12, 2021, 6:42 pm
MANILA – San Miguel Corporation (SMC) is looking to expand its newly-opened marketplace for fisherfolk and farmers in Sariaya, Quezon, and turn it into a major wholesale market of fresh goods from Southern Luzon and eventually providing food supplies to nearby provinces and Metro… Read More
Vax program key catalyst for economic recovery
August 12, 2021, 5:49 pm
MANILA – Philippine Chamber of Commerce and Industry (PCCI) acting president Edgardo Lacson said the rollout of vaccines against the coronavirus disease 2019 (Covid-19) is a primary catalyst for economic recovery as more businesses will be allowed to reopen. “The vaccination deployment will… Read More
Telco sees increased demand for fiber connection in SME sector
August 12, 2021, 4:33 pm
CEBU CITY – Converge ICT Solutions Inc. announced on Thursday it has completed the initial phases of its domestic subsea cable network to the Visayas and Mindanao regions, bringing improved internet connectivity down to the barangay level. Seeing signs of recovery of the small and medium… Read More
Bicol communities get P29-M from hosting BacMan geo-plant
August 12, 2021, 4:04 pm
MANILA – Local governments in Albay and Sorsogon received more than PHP29.1 million from hosting the Bacon-Manito (BacMan) geothermal plant. Through Energy Regulations (ER) 1-94 of the Electric Power Industry Reform Act of 2001 (EPIRA), host communities of power plants shall receive 1 centavo… Read More
D&L posts P1.39-B 1H profit despite pandemic
August 11, 2021, 7:54 pm
MANILA – Food ingredients and plastics manufacturer D&L Industries is optimistic about returning to pre-pandemic profitability level this year despite the threat of more transmissible Delta variant, banking mainly on the higher daily vaccination rate in the country. In a virtual press briefing… Read More
TDF demand still high, rates post mixed results
August 11, 2021, 7:35 pm
MANILA – The demand for the Bangko Sentral ng Pilipinas’ (BSP) term deposit facility (TDF) remained high, with both tenors still oversubscribed this week amid high liquidity in the economy. The BSP lowered the offer volume for the seven-day TDF by PHP10 billion to PHP150 billion and tenders… Read More
DA chief lowers agri growth goal to 2% for 2021
August 11, 2021, 7:16 pm
MANILA – The Department of Agriculture (DA) has adjusted the country's agricultural growth target this year to 2 percent from the earlier announced 2.5 percent. “Before, our projection is 2.5 percent, but with the continuing two pandemics affecting the country -- Covid-19 (coronavirus… Read More
APEC technical meeting cluster underway to spur recovery progress
August 11, 2021, 6:22 pm
JAKARTA – The third and final Asia-Pacific Economic Cooperation (APEC) technical meeting cluster is currently ongoing, with nearly 2,400 officials, policymakers, and private sector representatives from 21 economies involved in efforts to drive the region's recovery progress. The meeting cluster… Read More
Stocks index, peso end trade on positive notes
August 11, 2021, 6:17 pm
MANILA – The wait-and-see stance ahead of the quarterly Morgan Stanley Capital International (MSCI) review results release partly resulted in the improvement in the Philippines’ main stocks index Wednesday, which was mirrored by the peso. The local stock barometer rose by 0.66 percent, or… Read More
Port operator continues pandemic aid with vax donations to LGUs
August 11, 2021, 6:11 pm
MANILA – The ICTSI Foundation, as part of the ICTSI Group’s continuing support to the nationwide vaccination program and in partnership with Bloomberry Resorts Corp. (BRC), has donated 68,300 doses of the AstraZeneca coronavirus disease 2019 (Covid-19) vaccine from their inventory to 12 local… Read More
Ease of doing biz facilitates better telco services
August 11, 2021, 5:35 pm
MANILA – A telecommunication services company has commended the government for fast-tracking issuance of permits for telecommunication projects that facilitated the improvement of broadband speed in the country. Converge ICT Solutions, Inc. chief strategy officer Benjamin Azada said Wednesday… Read More
QR PH to address interoperability issue in digital transactions
August 11, 2021, 4:51 pm
MANILA – A financial institution executive has cited the Bangko Sentral ng Pilipinas’ (BSP) bid to address payments system interoperability, a major challenge among businesses in the Philippines, through its QR PH program. During a virtual briefing hosted by the Economic Journalists… Read More
Power supply enough despite Malampaya shutdown
August 11, 2021, 3:51 pm
MANILA – Department of Energy (DOE) Undersecretary Felix William Fuentebella said there is sufficient supply of power despite the Malampaya gas field going offline this October as long as there will be no forced outages from power plants. During the economic forum of the Economic Journalists… Read More
