Business
More Filipinos urged to get Covid-19 vaccines during ECQ
August 3, 2021, 5:35 pm
MANILA – Economic managers have urged the public to take advantage of the enhanced community quarantine (ECQ) from August 6 to 20 to get vaccinated against the coronavirus disease 2019 (Covid-19) to help ensure everyone’s safety and boost economic recovery. In a statement on Tuesday after… Read More
FIRB OKs tax breaks, incentives for 3 projects worth P29B
August 3, 2021, 3:14 pm
MANILA – The Fiscal Incentives Review Board (FIRB) has approved the grant of tax incentives for a mass housing project and two cement manufacturing plants all located outside Metro Manila worth PHP29.4 billion combined. Chaired by Finance Secretary Carlos Dominguez III, the FIRB approved… Read More
Globe has over 600 new cell sites, 8K site upgrades
August 3, 2021, 3:04 pm
MANILA – Telecommunications firm Globe Telecom Inc. has completed at least 641 new cell towers and 8,175 site upgrades in the first half of 2021. In a statement on Tuesday, Globe said these network upgrades include upgrading to 4G LTE its “obsolete” 3G network in Pangasinan, Misamis… Read More
COL Financial trims forecast for PSE index to 8,100 level
August 2, 2021, 9:00 pm
MANILA – Online stockbroker COL Financial Group expects the Philippine Stock Exchange index (PSEi) to end the year at 8,100, slightly lower than previously projected, supported by optimism for faster economic recovery and earnings growth. COL chief equity strategist April Lynn Tan said their… Read More
Financial institutions urged to support MSMEs
August 2, 2021, 6:48 pm
MANILA – The number of people working in micro, small and medium enterprises (MSMEs) is a primary factor why financial institutions should continue to tap the sector, a bank executive said. In a virtual briefing on Monday, Bank of the Philippine Island (BPI) president and chief executive… Read More
Stocks slip ahead of strictest lockdown status; peso nearly flat
August 2, 2021, 6:40 pm
MANILA – The Philippine Stock Exchange index (PSEi) started the week down partly on concerns regarding the implementation of enhanced community quarantine (ECQ) in the National Capital Region (NCR) starting Aug. 6, but the peso ended the day sideways. The local stock barometer rose by 2.81… Read More
T-bill rates move sideways on hopes for within-target inflation
August 2, 2021, 5:38 pm
MANILA – Expectations for within-target inflation rate in July resulted in the sideways movement of Treasury bills (T-bills) on Monday. The average rate of the 91-day securities moved to 1.053 percent, the 182-day to 1.401 percent, and the 364-day to 1.632 percent. These were at 1.050… Read More
BIR urged to ‘go for gold’ in exceeding tax collection goals
August 2, 2021, 4:12 pm
MANILA – Finance Secretary Carlos Dominguez III has called on the Bureau of Internal Revenue (BIR) to ‘go for the gold,’ like the extraordinary feat achieved by Filipino gold medalist Hidilyn Diaz in the Tokyo Olympics, by surpassing its tax collection targets for this year and beyond. In… Read More
Duterte admin boosts support for MSME dev’t: DTI chief
August 2, 2021, 4:07 pm
MANILA – The Duterte administration has accelerated its support for the development and growth of micro, small and medium enterprises (MSMEs), Department of Trade and Industry (DTI) Secretary Ramon Lopez said. At the opening of the National MSME Week 2021, Lopez recalled that when he was… Read More
Filipino-owned fisheries, aquaculture export ecozones urged
August 2, 2021, 3:53 pm
MANILA – The fisheries sector on Monday urged for the establishment of more aquaculture economic zones to boost production of processed and value-added aquaculture products for both domestic and export market and generate local employment. The Special Economic Zone Act of 1995 provides fiscal… Read More
PH, Singapore record growth in manufacturing index in July
August 2, 2021, 2:36 pm
MANILA – The Philippines and Singapore are the only countries in Asean that recorded improvement in manufacturing index for July 2021, the IHS Markit Manufacturing Purchasing Managers’ Index (PMI) reported Monday. Due to the resurgence of coronavirus disease 2019 (Covid-19) in the region, the… Read More
LPG, pump prices up anew this week
August 2, 2021, 2:33 pm
MANILA – After a price rollback last week, oil prices are up again this week starting Tuesday morning. In separate advisories, Cleanfuel, Petro Gazz, Seaoil and Shell announced a big-time hike on prices of gasoline by PHP1.05 per liter and PHP0.80-increase per liter of diesel. Seaoil and Shell… Read More
IPOPHL adopts EU trademark database to ensure ease in application
August 2, 2021, 1:23 pm
MANILA – The Intellectual Property Office of the Philippines' (IPOPHL) online trademark filing tool is now using the European Union's (EU) harmonized database of goods and services (HDB), currently the largest multilingual trademark classification database in the world. The HDB contains over… Read More
Avisado takes medical leave after hospitalization due to Covid
August 1, 2021, 11:14 am
MANILA – Budget and Management Secretary Wendel Avisado will be on a 10-day medical leave starting Aug. 2 after recently contracting the coronavirus disease 2019 (Covid-19). In a statement Saturday night, the Department of Budget and Management (DBM) said Avisado was hospitalized for eight days… Read More
Digitalization, financial inclusion back ‘New Economy’
July 30, 2021, 9:05 pm
MANILA – Digitalization and financial inclusion are the foundations of the “New Economy”, Bangko Sentral ng Plipinas (BSP) Governor Benjamin Diokno said, citing their benefits to more Filipinos. “Why finance digitalization? Financial technology makes transactions easier and faster,… Read More
Stocks index dips ahead of ghost month but peso improves
July 30, 2021, 8:30 pm
MANILA – The local equities index declined ahead of the ghost month and the two-week enhanced community quarantine (ECQ) implementation in the National Capital Region (NCR) in August, but the peso improved to the 49-level against the greenback. The Philippine Stock Exchange index (PSEi) shed… Read More
CREATE law seen to offset economic losses due to ECQ
July 30, 2021, 8:11 pm
MANILA – Any economic losses due to the upcoming two-week enhanced community quarantine (ECQ) in the National Capital Region (NCR) will be positively offset by the final approval of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) law, an economist said. In a report, Rizal… Read More
Coops’ assets reach P573-B despite pandemic
July 30, 2021, 8:07 pm
MANILA – Cooperative Development Authority (CDA) Chairman Joseph Encabo said total assets of active cooperatives in the country continue to grow despite the challenges brought by the coronavirus disease 2019 (Covid-19) pandemic. During the CDA Koops eForum Friday, Encabo said consolidated… Read More
SEC launches new office for fintech innovation
July 30, 2021, 8:03 pm
MANILA – The Securities and Exchange Commission (SEC) is paving the way for more innovations in the fintech industry to further promote financial inclusion and protect investors and other financial consumers. The Commission formally launched Friday the PhiliFintech Innovation Office (PIO),… Read More
Disruption in cash flow, ‘real challenge’ for MSMEs
July 30, 2021, 7:09 pm
MANILA – Small business owners know they need to digitalize their processes and innovate to face current challenges, but some find it hard to do it due to lack of information where to tap these innovations. In a virtual briefing on Friday, Union Bank of the Philippines (Unionbank) vice… Read More
