Business
BSP eyes July inflation at 3.9% to 4.7%
July 30, 2021, 6:14 pm
MANILA – Upticks in domestic fuel prices and some food items are projected to bring the July rate of price increases to between 3.9 percent and 4.7 percent, or an average of 4.3 percent. In a Viber message to journalists on Friday, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno… Read More
Biz groups express support for 2-week ECQ in NCR
July 30, 2021, 6:05 pm
MANILA – Despite being vocal against another strict lockdown, businesses have expressed their support for the government’s decision to place the National Capital Region (NCR) under enhanced community quarantine (ECQ). “Business is against lockdown because it is disruptive and harmful to the… Read More
Faster vaccination can mitigate ECQ impact to economy
July 30, 2021, 4:36 pm
MANILA – The Inter-Agency Task Force for the Management of Emerging Infectious Diseases (IATF) decision to place Metro Manila under enhanced community quarantine (ECQ) from Aug. 6 to 20 is expected to impact the economy and jobs in the country. In a Viber message to journalists Friday,… Read More
Mining sector recovery seen on resurgence of demand
July 30, 2021, 1:56 pm
MANILA – Opportunities for the recovery of the mining sector abound given the policy boost and continued demand for its products, and companies just need to maximize the sector’s potential, a Finance department official said. Finance Assistant Secretary Ma. Teresa Habitan, who also serves… Read More
200 Marikina residents to get jobs in new supermarket
July 30, 2021, 10:44 am
MANILA – Some 200 Marikina City residents will be employed by a supermarket chain that opened a branch in the city, Mayor Marcelino Teodoro said on Thursday. “Ang pagbubukas ng SnR supermarket ay trabaho ang hatid sa mga taga Marikina sa gitna ng pandemya. Ang mga nirekomenda natin ay mga… Read More
BAP urges public to be more vigilant vs. cybercriminals
July 29, 2021, 7:20 pm
MANILA – The Bankers Association of the Philippines (BAP) has urged the public to heed financial institutions’ advice regarding best practices on how to protect themselves against cybercriminals. In a statement on Thursday, the BAP cited the rising online fraud like phishing and other… Read More
PH stocks rise after Fed holds rates near zero; peso almost flat
July 29, 2021, 6:34 pm
MANILA – The local stock barometer got a breather on Thursday after the Federal Reserve announced that interest rates would remain near zero while the peso sustained its sideways close against the US dollar. The Philippine Stock Exchange index (PSEi) rose by 0.36 percent, or 23.50 points, to… Read More
Investment house exec optimistic of economic recovery this year
July 29, 2021, 5:35 pm
MANILA – Uncertainties remain, especially with the threat of the Delta variant of the coronavirus disease 2019 (Covid-19), but economic recovery is clear, an official of an investment management and trust company said on Thursday. During the virtual launch of Sun Life Investment Management and… Read More
Gov’t eyes 1-day biz processing by year-end
July 29, 2021, 5:31 pm
MANILA – The government targets end-to-end processing of business applications in one day before the year ends, Department of Trade and Industry (DTI) Secretary Ramon Lopez said. During the Laging Handa public briefing Thursday, Lopez said this heeds the call of President Rodrigo Duterte during… Read More
Hidilyn Diaz not required to declare gifts, rewards in her ITR
July 29, 2021, 3:35 pm
MANILA – Weightlifter and Olympic gold medalist Hidilyn Diaz need not declare in her income tax return (ITR) all the gifts she received after winning in the 2020 Summer Olympics held in Tokyo. “BIR (Bureau of Internal Revenue) has resolved it. They are donations subject only to 6-percent… Read More
Condo market in Cebu’s resort city shows signs of recovery
July 29, 2021, 3:30 pm
CEBU CITY – Mactan Island, which is home to the international airport, is seeing an uptick in demand for condominium units despite the coronavirus pandemic, a real estate industry leader here has observed. “The lockdown last year greatly affected businesses but surprisingly sales for condo… Read More
Economy can’t bear another massive lockdown: DTI chief
July 29, 2021, 2:34 pm
MANILA – Department of Trade and Industry (DTI) Secretary Ramon Lopez has thanked President Rodrigo Duterte for approving the recommendation of the Inter-Agency Task Force for the Management of Emerging Infectious Diseases (IATF) to put Metro Manila and nearby provinces under general community… Read More
Delta variant, another challenge to PH financial stability
July 28, 2021, 8:45 pm
MANILA – The possible implementation of stricter quarantine measures to address the threat from the Delta variant of the coronavirus disease 2019 (Covid-19) is another challenge to the financial stability of the country. In a virtual briefing on Wednesday, BSP Assistant Governor Johnny Noe… Read More
Protecting fiscal health to boost gov’t’s pandemic response
July 28, 2021, 8:14 pm
MANILA – Protecting the government’s financial health provides it flexibility to make decisions regarding pandemic-related developments, Finance Secretary Carlos Dominguez III said. In a Viber message to journalists on Wednesday, Dominguez recalled his observations in 2020 “that this… Read More
IMF sees widening gaps in global recovery, downside risks
July 28, 2021, 8:08 pm
WASHINGTON – The International Monetary Fund (IMF) on Tuesday maintained its global economic growth forecast at 6 percent for 2021, calling attention to widening gaps in global recovery and warning of downside risks amid vaccine inequality. In its latest World Economic Outlook (WEO), the IMF… Read More
Stocks dip; peso nearly unchanged vs. dollar
July 28, 2021, 8:07 pm
MANILA – The Philippine Stock Exchange index (PSEi) ended in the negative territory on Wednesday but the peso closed sideways against the greenback. The main equities index shed 0.76 percent, or 49.55 points, to 6,473.03 points. It was followed by all the other counters, with the All Shares… Read More
Cebu tourism plays key role in PH economic recovery
July 28, 2021, 7:24 pm
CEBU CITY – The tourism industry in Cebu is expected to propel the country’s post-pandemic economic growth once mobility restrictions are further eased and foreign tourists return to one of the country’s premier tourist hubs. This projection was made by Cebu Landmasters Inc. (CLI)… Read More
IMF keeps PH growth forecasts, monitors impact of Delta variant
July 28, 2021, 4:34 pm
MANILA – The International Monetary Fund (IMF) is keeping its 5.4-percent growth forecast for the Philippine economy for 2021 but is on the lookout for the economic impact of new variants of the coronavirus disease 2019 (Covid-19). In a reply to e-mailed questions from the Philippine News… Read More
DTI chief not in favor to limit movement of unvaccinated persons
July 28, 2021, 4:14 pm
MANILA – Trade Secretary Ramon Lopez does not agree with the recommendation to limit the movement of unvaccinated persons amid the threats of the Delta variant of the coronavirus disease 2019 (Covid-19). In a television interview Tuesday night, Lopez said this is not yet the time to implement… Read More
Biz registration, renewal reach 1.9M
July 28, 2021, 2:11 pm
MANILA – Business registrations and renewals reached 1.9 million as of Tuesday, Department of Trade and Industry (DTI) Secretary Ramon Lopez said. He said the number has increased from 900,000 business registrations and renewals in 2015. “While there are business(es) that closed down, the… Read More
