Business
Improvement in gov't revenues eyed as vax rollout continues
July 27, 2021, 8:44 pm
MANILA – An economist has expressed hope for an improvement in state revenues on the back of the rollout of the vaccination program and the continued revival of economic activities amid the pandemic. The Bureau of the Treasury (BTr) on Tuesday reported a 30.03-percent year-on-year drop in… Read More
Bargain hunting lifts PH equities index but peso weakens
July 27, 2021, 7:10 pm
MANILA – Bargain hunting lifted the local bourse on Tuesday but the peso ended the day weaker against the US dollar. The Philippine Stock Exchange index (PSEi) rose by 2.35 percent, or 149.97 points, to 6,522.58 points. All Shares jumped by 1.88 percent, or 74.60 points, to 4,039.75… Read More
Digital transformation boosts policy-making, service delivery
July 27, 2021, 6:32 pm
MANILA – Data science, analytics, and digital transformation can help make better policies and deliver better services as the Philippines heads to a new and better normal, the National Economic and Development Authority (NEDA) said. “I have always believed and advocated for digital… Read More
BPO firm partners with NGOs for Covid response projects
July 27, 2021, 4:21 pm
MANILA – Business process outsourcing (BPO) firm Accenture Philippines has partnered with non-governmental organizations (NGOs) in the country to roll out projects that will help alleviate hunger, poverty, and education in communities. In a press conference Tuesday, Accenture Philippines… Read More
Cebu bizmen back PRRD’s pledge to revive ‘commercial vibrance’
July 27, 2021, 3:45 pm
CEBU CITY – The business community in Cebu has welcomed the commitment made by President Rodrigo Duterte to revive the pre-pandemic “commercial vibrance” in the country. Felix Taguiam, president of the Cebu Chamber of Commerce and Industry (CCCI), expressed support for the President’s… Read More
7-year T-bond rate moves sideways amid strong demand
July 27, 2021, 3:42 pm
MANILA – The sideways movement of government debt securities rates continued on Tuesday for the seven-year Treasury bond (T-bond). The average rate of the debt paper moved to 3.651 percent from 3.576 percent previously. The Bureau of the Treasury (BTr) offered the T-bond for PHP35 billion… Read More
2.2M more jobs created despite pandemic: NEDA chief
July 27, 2021, 2:47 pm
MANILA – Jobs in the country were higher by 2.2 million from the pre-pandemic level, Socioeconomic Planning Secretary Karl Kendrick Chua said. In an interview with PTV after the State of the Nation Address (SONA) Monday evening, Chua said through risk management and implementation of granular… Read More
NEDA, DTI chiefs laud PRRD’s order to pass economic reform bills
July 26, 2021, 9:54 pm
MANILA – Socioeconomic Planning Secretary Karl Kendrick Chua and Trade Secretary Ramon Lopez have welcomed the directive of President Rodrigo Duterte to legislators to pass bills that will further open the economy. In a post-State-of-the-Nation Address (SONA) interview with PTV, both Chua and… Read More
DOF prepares fiscal recovery plan for next admin
July 26, 2021, 9:49 pm
MANILA – The Department of Finance (DOF) is preparing a recovery plan to help the next administration easily make fiscal decisions. “We are preparing the plan so that when we turn over to the next administration by June 30, 2022. There will be a good solid, what we call, a fiscal recovery… Read More
Economic reform measures boost PH resilience
July 26, 2021, 9:46 pm
MANILA – Reforms instituted by the Duterte administration has allowed the country to be resilient amid the pandemic, Finance Secretary Carlos Dominguez said on Monday. In an interview over state-owned PTV-4, Dominguez likened an economy to a human body that needs to be healthy. “If you… Read More
Over 219K micro biz benefitted from P3 lending program
July 26, 2021, 8:25 pm
MANILA – President Rodrigo Duterte said on Monday over 219,000 underprivileged microentrepreneurs have benefitted from the government’s lending program Pondo sa Pagbabago at Pag-Asenso (P3) program of the Department of Trade and Industry (DTI). In his last State-of-the-Nation Address (SONA),… Read More
Stocks index slips; peso ends sideways
July 26, 2021, 7:22 pm
MANILA – The Philippine Stock Exchange index (PSEI) ended the day in the negative territory a few hours before the sixth and last State of the Nation Address (SONA) of President Rodrigo R. Duterte while the peso ended the day sideways. The main equities index shed 2.27 percent, or 148.13… Read More
T-bill rates move sideways on Delta variant worries
July 26, 2021, 5:01 pm
MANILA – Concerns over the possible imposition of stricter movement restrictions because of the Delta variant of the coronavirus disease 2019 (Covid-19) resulted in the sideways change on Treasury bill (T-bill) rates on Monday. The average rate of the 91-day paper moved to 1.050 percent, the… Read More
Oil price rollback set after 8 straight weeks of hikes
July 26, 2021, 4:14 pm
MANILA – After eight weeks of consecutive oil price hikes, pump prices will go down starting Tuesday morning. In separate advisories, Caltex, Cleanfuel, Petro Gazz, PTT, Seaoil, Shell, and Total will slash gasoline prices by 75 centavos per liter and diesel products by 60 centavos per… Read More
DTI vows to make PH more attractive to investors
July 26, 2021, 3:26 pm
MANILA – After approving investment projects worth PHP5.2 trillion from 2016 to June 2021, the Department of Trade and Industry (DTI) is committed to support policies and push for programs that will attract more investments to the country. “The DTI strongly supported the full implementation… Read More
Tax reforms boost PH economic recovery, pandemic response
July 25, 2021, 8:36 pm
MANILA – Tax reform is the Duterte administration’s priority program eyed to boost government revenues for its flagship infrastructure projects, with an annual requirement set at around PHP1 trillion. But little did economic managers know that this reform bid will be greatly used before the… Read More
24 infra flagship projects seen to create over 300K jobs
July 25, 2021, 12:01 pm
MANILA – The government expects to complete 24 infrastructure flagship projects (IFPs) worth PHP194.78 billion before the end of President Rodrigo Duterte’s term in June 2022. “The 24 projects are estimated to generate more than 300,000 jobs between 2017 to 2022,” the National Economic and… Read More
PH can achieve upper middle-income status by 2022: NEDA
July 24, 2021, 5:36 pm
MANILA – The Duterte administration is banking on key policy measures and reforms, including those aimed at placing the Philippines in a strong position to weather the impact of the pandemic, to boost recovery to achieve an upper middle-income country status by next year. The Development Budget… Read More
Concerns on Delta variant weaken PH stocks, peso
July 23, 2021, 8:02 pm
MANILA – The local stock barometer fell into correction territory on Friday, a day after posting gains, and the peso followed. The Philippine Stock Exchange index (PSEi) lost 0.85 percent, or 55.88 points, to 6,520.74 points. All Shares followed with a drop of 0.89 percent, or 36.43 points,… Read More
Banks still open to loan restructuring amid pandemic
July 23, 2021, 7:14 pm
MANILA – Banks continue to understand the plight of their borrowers amid the pandemic, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said, citing resolutions on complaints filed with the central bank. In a virtual briefing on Friday, Diokno said while requests for debt collection… Read More
