Business
Shakey’s employees get free Covid-19 vaccines
July 15, 2021, 8:35 pm
MANILA – Shakey’s Pizza Asia Ventures Inc., the country’s leading chained full-service restaurant, will provide free 20,000 doses of coronavirus disease 2019 (Covid-19) vaccines to its employees. “We look forward to rolling out our company-wide vaccination program, through our affiliate… Read More
Monetary policy setting based on domestic factors: BSP
July 15, 2021, 8:27 pm
MANILA – Domestic factors and not moves by major central banks are the key considerations in any policy decision of the Bangko Sentral ng Pilipinas (BSP). BSP Governor Benjamin Diokno underscored monetary authorities’ commitment to keep the central bank’s accommodative stance to support… Read More
Economist says gov't spending to drive PH 2021 growth
July 15, 2021, 8:22 pm
MANILA – The government’s infrastructure spending is expected to be the major growth driver this year but Standard Chartered Bank has reduced its growth forecast for the Philippine economy from 6.4 percent to 4.6 percent. In a virtual briefing on Thursday, Standard Chartered Bank economist… Read More
Stocks slip; peso ends sideways vs. US dollar
July 15, 2021, 7:07 pm
MANILA – The Philippine Stock Exchange index (PSEi) slipped on Thursday due in part to developments in the US but the peso managed to end the trade sideways against the greenback. The main equities gauge shed 1.57 percent, or 107.48 points, to 6,727.93 points. All Shares went down by 1.05… Read More
7-Eleven ramps up jabs for employees
July 15, 2021, 6:57 pm
MANILA – Philippine Seven Corp. (PSC), the exclusive licensor of 7-Eleven in the country, is ramping up a vaccination program for its employees as it pursues expansion plans in optimism about recovery amid the pandemic. PSC president and chief executive officer Victor Paterno said they expect… Read More
PH eyes retail dollar bond issuance
July 15, 2021, 6:10 pm
MANILA – The Philippines aims to issue its first-ever US dollar-denominated retail dollar bond (RDBs) targeted for overseas Filipinos (OFs) to augment government funds, National Treasurer Rosalia de Leon said. In a virtual briefing on Thursday, de Leon said they are considering having the… Read More
Japanese firms eye green lanes for investments in PH
July 15, 2021, 5:43 pm
MANILA – Japanese companies remain interested in investing in the Philippines as they expect express lanes in the country to facilitate their investments. In a statement Thursday, the Department of Trade and Industry (DTI) said the agency had a business dialogue with Japanese firms wherein they… Read More
BSP renews P540-B cash advance to gov’t
July 15, 2021, 5:41 pm
MANILA – Another PHP540-billion bridge financing has been extended by the Bangko Sentral ng Pilipinas (BSP) to the national government, the third since 2020, aimed to provide liquidity to help finance economic recovery efforts. In a virtual briefing on Thursday, BSP Governor Benjamin Diokno… Read More
Fast-tracking more reforms eyed after rating outlook change
July 14, 2021, 8:40 pm
MANILA – Further push for the eventual approval of the other tax reform measures of the Duterte administration is expected following Fitch Ratings’ decision to downgrade its outlook on the country’s investment grade rating. During the company’s virtual briefing on Wednesday, First Metro… Read More
Economist raises possibility of another BSP rate cut
July 14, 2021, 8:34 pm
MANILA – An economist has raised the possibility of another cut in the Bangko Sentral ng Pilipinas’ (BSP) key rates by August this year to show its willingness to further support the economy’s recovery. “BSP actually has room for further easing just to signal that they’re willing to… Read More
Skyway 3 traffic eases amid adjustment to toll collection snags
July 14, 2021, 8:13 pm
MANILA – Skyway O&M, operator of the Skyway system and a unit under San Miguel Corporation’s (SMC) SMC Infrastructure, expects more seamless movement along the new Skyway Stage 3 with the implementation of new measures to avoid congestion on access and exit points following the first day of… Read More
PH economy seen rebounding by 5-6% in 2021
July 14, 2021, 7:54 pm
MANILA – The investment banking arm of the Metrobank Group expects the Philippine economy to recover with a growth of 5 to 6 percent by the end of the year, reversing the 9.6-percent contraction in 2020 amid the pandemic. The First Metro Investment Corporation (FMIC) sees the faster global… Read More
P800-K allotted for market research on halal cosmetics
July 14, 2021, 7:20 pm
MANILA – The government has allocated PHP800,000 for the conduct of market research on halal cosmetics until October, an executive of the Industrial Technology Development Institute (ITDI) said Wednesday. "When we say halal cosmetics, this was made following the principles of the Halal… Read More
Stocks, peso end sideways partly on higher US inflation rate
July 14, 2021, 6:33 pm
MANILA – Both the Philippine Stock Exchange index (PSEi) and the peso ended Tuesday sideways partly due to unexpected acceleration in the US inflation rate last June. The main equities index lost 0.03 percent, or 1.82 points, to 6,793.31 points. All Shares declined by 0.17 percent, or 7.37… Read More
TDF rates decline on continued strong demand
July 14, 2021, 6:28 pm
MANILA – Strong demand continues to result in the decline in the Bangko Sentral ng Pilipinas’ (BSP) term deposit facility (TDF) rates. Data released by the central bank showed that the average rate of the seven-day facility slipped to 1.7097 percent and the 14-day facility to 1.7817… Read More
Fitch Ratings outlook change ‘useful heads up’ for PH
July 14, 2021, 6:24 pm
MANILA – Fitch Ratings’ outlook change on Philippines’ rating from stable to negative is “a useful heads up” for the government to work hard for the economy’s rebound, executives of the First Metro Investment Corporation (FMIC) said. In a virtual briefing on Tuesday, FMIC… Read More
Industry summit to discuss adoption of electric vehicles
July 14, 2021, 5:57 pm
MANILA – Stakeholders in the electric vehicle industry will focus their talks on accelerating the adoption of e-vehicles in the local transport in an upcoming summit. The Electric Vehicle Association of the Philippines (EVAP), together with Manila Electric Company and in partnership with the… Read More
DOE urged to assess financial health of firms acquiring Malampaya
July 14, 2021, 3:33 pm
MANILA – Senator Sherwin Gatchalian has urged the Department of Energy (DOE) to carefully evaluate the financial health of companies behind the acquisition of the Malampaya gas field project. In a public hearing of the Senate Committee on Energy Wednesday, Gatchalian said that based on the… Read More
Biz groups urge gov’t to repeal new BIR regulation
July 14, 2021, 1:58 pm
MANILA – Several business groups have called on the government to immediately repeal Revenue Regulation (RR) 9-2021 issued by the Bureau of Internal Revenue (BIR) that would impose 12-percent value-added tax (VAT) on goods and services that are previously zero-rated. In a joint press briefing… Read More
PH office market seen closer to pre-pandemic levels
July 13, 2021, 8:11 pm
MANILA – Demand for office space will be closer to pre-pandemic levels by the end of 2021 with the expected conclusion of 330,000 square meters (sqm) of live requirements, according to Leechiu Property Consultants (LPC). In a virtual press briefing Tuesday, LPC director Mikko Barranda said… Read More
