Business
Payment system operator urged to register with BSP
July 23, 2021, 6:49 pm
MANILA – The Bangko Sentral ng Pilipinas (BSP) has ordered Lyka, a social media platform that provides payments service, to stop operations unless it has registered with the central bank. In a virtual briefing on Friday, BSP Governor Benjamin Diokno said the mobile application launched by a… Read More
BOI, PEZA approve P5.2-T investments in past 5 years
July 23, 2021, 5:18 pm
MANILA – Investment approvals in investment promotion agencies (IPAs) under the Department of Trade and Industry (DTI) have increased from 2016, indicating the improving investment environment in the country in the past five years. Data from DTI showed that combined approved investments of the… Read More
DOF chief cites ALI support to PH economic recovery, vax program
July 23, 2021, 4:53 pm
MANILA – Department of Finance (DOF) Secretary Carlos Dominguez III has cited Ayala Land Inc. (ALI) for supporting the country’s economic recovery through investments and job creation, as well as the government’s vaccination program. “The company has greatly contributed to our growth… Read More
DBP grants P730-M loan to Quezon health care facility
July 23, 2021, 1:14 pm
MANILA – The state-owned Development Bank of the Philippines (DBP) has granted a PHP730 million loan to a fledgling hospital chain to build the first Level 2 hospital in Quezon province, a top official said. In a statement Friday, DBP president and chief executive officer Emmanuel Herbosa said… Read More
Gov't to closely work with private sector for digitalization bid
July 22, 2021, 8:27 pm
MANILA – The government’s bid to further push digitalization of the financial system, among others, will be closely coordinated with the private sector to fully achieve the goals for financial inclusion. In his speech during the virtual Digital Pilipinas launch on Thursday, Finance Secretary… Read More
BSP's accommodative stance to boost PH recovery
July 22, 2021, 7:52 pm
MANILA – Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno has highlighted the need to keep the central bank’s accommodative stance to boost economic recovery, after citing the improvement in domestic activities as the government eases movement restrictions. In a virtual briefing… Read More
DTI chief says PH can be future tech leader in Southeast Asia
July 22, 2021, 6:55 pm
MANILA – Trade Secretary Ramon Lopez said the country can be the next technological leader in Southeast Asia as Filipinos adapt to digital technology amid the pandemic. “The Department of Trade and Industry (DTI) is one with the Digital Pilipinas Movement in believing that the Philippines can… Read More
DTI opens Bulacan’s 19th Negosyo Center
July 22, 2021, 6:35 pm
DOÑA REMEDIOS TRINIDAD, Bulacan – The Department of Trade and Industry (DTI) provincial office opened on Thursday its 19th Negosyo Center in this mountainous town as part of the continuing effort to assist micro, small and medium enterprises (MSMEs) throughout the province flourish. DTI… Read More
Bargain hunting lifts PH stocks index; peso follows
July 22, 2021, 6:12 pm
MANILA – After days of slide, the Philippine Stock Exchange index (PSEi) recovered on Thursday due to bargain hunting and this benefited the peso. The local stock barometer rose by 1.55 percent, or 100.41 points, to 6,576.62 points. It was trailed by all the other indexes, with the All… Read More
Change in PH strategy vs. debt upticks needed: economist
July 22, 2021, 5:21 pm
MANILA – An economist has suggested the need for the government to reconsider its strategy to address the rising debt amid pandemic-related spending to prevent further adjustments on its credit rating outlooks. This, after Fitch Ratings recently changed from stable to negative its outlook… Read More
Cebu allots add’l P100-M for 'Sugbo Negosyo' program
July 22, 2021, 5:03 pm
CEBU CITY – The Cebu provincial government is allotting another PHP100-million budget for the second round of the Sugbo Negosyo, a program that gives much-needed capital to small entrepreneurs in the province. The program will have additional 13 partner merchants for the next rollout of the… Read More
DOE pushes shift to renewables during Duterte’s term
July 22, 2021, 4:25 pm
MANILA – Department of Energy (DOE) Secretary Alfonso Cusi said the agency has been pursuing policies for the country to transition to renewable energy as a source of power during the Duterte administration. During the pre-SONA (State of the Nation Address) forum on Climate Change Adaptation… Read More
DOF to withdraw regulation imposing 12% VAT on exporter inputs
July 21, 2021, 7:56 pm
MANILA – The Department of Finance (DOF) and Bureau of Internal Revenue (BIR) have agreed to suspend the implementation of Revenue Regulation (RR) 9-2021, which imposed 12-percent value-added tax (VAT) on certain exporter transactions that were previously taxed at 0 percent, a House leader… Read More
Stocks slip anew on Delta variant concerns; peso nearly flat
July 21, 2021, 7:52 pm
MANILA – The Philippine Stock Exchange index (PSEi) ended Wednesday down still partly due to concerns on the impact of the Delta variant of coronavirus disease 2019 (Covid-19) but the peso managed to move sideways. The local stock barometer shed 1.68 percent, or 110.99 points, to 6,476.21… Read More
3 startups get P2.5-M funding each from 917Ventures
July 21, 2021, 7:24 pm
MANILA – At least three startups received PHP2.5 million each as initial funding from venture builder 917Ventures, it announced on Wednesday. KodeGo, Fanlife, and BentaTV were chosen to put their businesses to reality as an IT (information technology) training program, an online community… Read More
TDF rates down anew on strong demand, high liquidity
July 21, 2021, 6:32 pm
MANILA – Strong demand for the Bangko Sentral ng Pilipinas’ (BSP) term deposit facility (TDF) continues to push the facility’s rates down. Data released by the central bank on Wednesday showed that the average rate of the seven-day facility slipped to 1.6992 percent and the 14-day… Read More
DOF chief sees ‘pretty good’ Q2 GDP growth
July 21, 2021, 6:29 pm
MANILA – Improvement in the employment situation is expected to make the country’s second-quarter economic growth “pretty good”, Finance Secretary Carlos Dominguez III said. In an interview over Bloomberg TV on Wednesday, Dominguez declined to give specific figures, saying he is “not… Read More
S. Luzon community market provides livelihood to SMEs, farmers
July 21, 2021, 4:56 pm
MANILA – San Miguel Corporation (SMC) is set to open to the public its second community market in the south to help sustain the livelihoods of pandemic-hit farmers and small businesses by providing a safe and ready marketplace for their products. Called the Circolo weekend community market,… Read More
Continued reforms to address possible economic risks assured
July 21, 2021, 4:47 pm
MANILA – Department of Finance (DOF) Secretary Carlos Dominguez III has assured the next administration that the Duterte presidency will continue to push for reforms and assist it in addressing any possible fiscal and economic risks that the country may face in the post-pandemic era. He said… Read More
2022 polls seen to boost economic recovery
July 20, 2021, 8:05 pm
MANILA – An economist is projecting the economy to return to pre-pandemic growth levels by 2022 due partly to the impact of the May 2022 national polls. In a report Tuesday, Rizal Commercial Banking Corp. (RCBC) chief economist Michael Ricafort said inflation and interest rates are also… Read More
