Business
Strong macro-fiscal foundation key to dealing with pandemic: NEDA
June 21, 2021, 4:54 pm
MANILA – A strong macro-fiscal foundation is vital for economies to weather shocks, such as the coronavirus disease 2019 (Covid-19) pandemic, the National Economic and Development Authority (NEDA) said. “When building a house, we first need to ensure its structural integrity, or else its… Read More
Oil prices up 4 weeks in a row
June 21, 2021, 2:07 pm
MANILA – Oil firms are set to raise their prices starting Tuesday, marking the fourth consecutive week of an increase. In separate advisories, Caltex, Cleanfuel, Petro Gazz, PTT Philippines, Seaoil, Shell, and Total said they will increase PHP0.75 per liter on gasoline products, and PHP0.70 per… Read More
Final deadline of voluntary return of SBWS set on June 30
June 20, 2021, 4:52 pm
MANILA – The Small Business Wage Subsidy (SBWS) Program Task Force (SPTF) has resolved to allow the voluntary return of the subsidies until June 30 this year in response to requests from employers and employees who were still unable to give it back despite previous extensions of its deadline to… Read More
Cebu car dealers optimistic on vax rollout, see economic recovery
June 20, 2021, 12:33 pm
CEBU CITY – Businessmen here who are engaged in car dealerships have expressed their support to the government’s vaccination drive, pointing out this is an important step for the economy to fully recover and regain consumer confidence moving forward. “Amidst the pandemic, we are opening a… Read More
‘Build, Build, Build’ delivers, sets up infra for future
June 19, 2021, 6:09 pm
MANILA – With the Duterte administration entering its final year, the “Build, Build, Build” program continues to deliver its promise of creating infrastructure that improves the lives of Filipinos in the face of the Covid-19 pandemic and other challenges, Cabinet secretaries said in a media… Read More
Unhampered biz ops in Siargao Islands assured
June 19, 2021, 4:25 pm
MANILA – Department of Energy (DOE) Secretary Alfonso Cusi has expressed his support for local businesses in Siargao who are struggling to process their documentary prerequisites to operate and will help them in extending their temporary lighting permits. Business owners and investors in the… Read More
BSP's 28-day bill rate up on strong demand
June 18, 2021, 7:46 pm
MANILA – Rate of the Bangko Sentral ng Pilipinas’ (BSP) 28-day securities increased Friday amidst the strong demand for the paper. The weighted average rate of the debt paper rose to 1.8109 percent from 1.7965 percent during the auction last June 11. BSP again offered the securities for… Read More
Gov’t investments on infra, much needed in pandemic: NEDA chief
June 18, 2021, 6:23 pm
MANILA – Government investments in infrastructure projects are not purely on roads, bridges, and airports, but also in other facilities that will help the Filipinos’ daily lives amid the pandemic. In a press conference on Build, Build, Build program Friday, Socioeconomic Planning Secretary… Read More
PH stocks index slips anew, peso keeps footing vs. USD
June 18, 2021, 5:39 pm
MANILA – The Philippine Stock Exchange index (PSEi) declined anew following hints from the Federal Reserve of an earlier-than-expected hike in rates but the peso ended the week sideways against the US dollar. The main stocks index lost 0.53 percent, or 36.54 points, to 6,851.38 points. All… Read More
BSP hikes '21 BOP forecast, cuts '22 projection
June 18, 2021, 3:37 pm
MANILA – Philippine monetary officials hiked the Bangko Sentral ng Pilipinas’ (BSP) balance of payment (BOP) projection for 2021 on expectations of quicker global economic recovery but cut the 2022 forecast on expectations of higher imports growth. From a USD6.2 billion 2021 BOP surplus… Read More
Next leader to inherit legacy infra projects from Duterte admin
June 18, 2021, 1:37 pm
MANILA – The present administration will be leaving legacy infrastructure projects to the next leadership when President Rodrigo Duterte ends his term in 2022, Presidential Adviser for Flagship Programs Vivencio Dizon said. In a press conference on Friday, Dizon said 119 projects amounting to… Read More
Employment returns to pre-pandemic levels: DOF report
June 17, 2021, 7:50 pm
MANILA – Stringent implementation of measures against the spread of coronavirus disease 2019 (Covid-19) is seen as the key for the continued reopening of the economy and help address the employment situation in the country. In an economic bulletin released on Thursday, the Department of Finance… Read More
Stocks, peso weaken on possible Fed rate hike in '23
June 17, 2021, 6:32 pm
MANILA – The local stock barometer and the peso declined Thursday after the Federal Open Market Committee (FOMC) kept the Federal Reserve’s key rates steady although US monetary officials see possible hikes starting in 2023. The Philippine Stock Exchange index (PSEi) dropped by 1.23 percent,… Read More
ARTA names agencies with highest number of complaints
June 17, 2021, 6:20 pm
MANILA – The Anti-Red Tape Authority (ARTA) has identified 10 government agencies with the highest number of complaints they received from the public as of June 10 this year. In the presentation of ARTA deputy director general Eduardo Bringas at the Kapihan sa ARTA Thursday, the agency received… Read More
Bank lending seen to expand as economy recovers
June 17, 2021, 5:22 pm
MANILA – The pace of the domestic economy’s recovery in the coming months is expected to be a major catalyst for growth in bank lending, which is in contraction despite the low interest rate environment. In a virtual briefing on Thursday, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin… Read More
NGCP set to bid out ancillary service; eyes new power sources
June 17, 2021, 5:00 pm
CEBU CITY – The National Grid Corporation of the Philippines (NGCP) is set to implement the public bidding process for ancillary services (AS) as it pushes for new energy sources to achieve energy security. In a statement on Wednesday, NGCP said it will start a competitive bidding for the… Read More
LGUs with online biz one-stop shop now at 580
June 17, 2021, 4:03 pm
MANILA – Out of 1,600 local government units (LGUs) in the country, 580 cities and municipalities have met the deadline of establishing the electronic Business One-Stop Shop (e-BOSS) mandated by the Anti-Red Tape Authority (ARTA). In its Kapihan sa ARTA Tuesday, ARTA director general Jeremiah… Read More
Fiscal space allows PH to provide stimulus measures: IMF exec
June 16, 2021, 8:21 pm
MANILA – The Philippine government’s fiscal space provides it the leeway to spend on additional stimulus to further cushion the pandemic’s impact on the vulnerable sectors, an International Monetary Fund (IMF) executive said. In a virtual briefing for the release of the lender’s 2021… Read More
IT-BPM industry seen among key economic drivers in Cebu
June 16, 2021, 7:51 pm
CEBU CITY – The information technology-business process management (IT-BPM) industry in Cebu is projected to continue growing as among the key economic drivers in the southern economic powerhouse amid the coronavirus disease 2019 (Covid-19) pandemic. This projection was shared by Cebu IT… Read More
TDF rates mixed on investors' preference for longer tenor
June 16, 2021, 7:11 pm
MANILA – Banks’ preference for a longer tenor term deposit facility (TDF) resulted in mixed results of the facility’s interest rates on Wednesday. Data released by the Bangko Sentral ng Pilipinas (BSP) showed that the average rate of the two-week TDF rose to 1.8118 percent while the rate… Read More
