Business
PH stocks gauge rises anew, peso stays firm vs. US dollar
June 11, 2021, 5:52 pm
MANILA – The Philippine Stock Exchange index (PSEi) ended the week up partly on news about the possibility of further easing of quarantine classification in the NCR Plus area but the peso was little changed against the US dollar. The main equities index rose by 0.47 percent, or 32.08 points, to… Read More
CREATE law, other measures to boost PH recovery: Fitch Solutions
June 11, 2021, 5:48 pm
MANILA – Fitch Solutions is optimistic that the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act will help boost the Philippines’ economic recovery, citing its impact on investors’ sentiment. CREATE Act, which was signed into law on March 26, gradually lowers corporate… Read More
DTI processing 600 safety seal applications
June 11, 2021, 5:01 pm
MANILA – The Department of Trade and Industry (DTI) is processing 600 applications of establishments securing a safety seal, a good housekeeping seal to ensure that the business establishment is following minimum health protocols. In a Laging Handa briefing on Friday, DTI Secretary Ramon Lopez… Read More
P20-B Cebu town reclamation project gets PRA nod
June 11, 2021, 2:18 pm
CEBU CITY – The Philippine Reclamation Authority (PRA) has finally approved the PHP20-billion Ming-Mori reclamation project in the southern town of Minglanilla in Cebu. The development of the 100-hectare Minglanilla Techno-Business Park marked a strategic milestone on Friday with the signing… Read More
DTI lends P4.5-B to MSMEs under CARES program
June 10, 2021, 5:46 pm
MANILA – The Department of Trade and Industry (DTI) has reported that a total of PHP4.5 billion worth of loans to micro, small and medium enterprises (MSMEs) were approved under the Covid-19 Assistance to Restart Enterprises (CARES) program as of June 9. In a statement Thursday, the DTI said… Read More
DOE says recent outages not due to power crisis
June 10, 2021, 4:37 pm
MANILA – The Department of Energy (DOE) reiterated on Thursday there is no power crisis in the country following the three-day rotational brownouts in some parts of Luzon last week. In a Senate hearing, DOE Secretary Alfonso Cusi said the country has enough power capacity to serve the… Read More
Thrift bank boosts up digital banking for Cebu teachers, SMEs
June 10, 2021, 3:53 pm
CEBU CITY – Teachers and small and medium entrepreneurs (SMEs) in Cebu have become the primary sectors benefited by a thrift bank’s continuous quest to create digital financial services. The City Savings Bank, Inc. (CitySavings) continues to assist the teachers and SMEs for their easy,… Read More
DICT latest member of interagency intellectual property committee
June 10, 2021, 2:51 pm
MANILA – The National Committee of Intellectual Property Rights (NCIPR), headed by the Intellectual Property Office of the Philippines (IPOPHL) as acting chair, has welcomed the Department of Information and Communications Technology (DICT) as its newest member who will significantly contribute… Read More
DOE chief mulls ‘limited’ gov’t participation in power generation
June 10, 2021, 1:59 pm
MANILA – Department of Energy (DOE) Secretary Alfonso Cusi has proposed to the Senate to allow the national government to participate in the power sector, particularly in securing reserve capacity for the country. In a Senate hearing Thursday, Cusi urged lawmakers to look into allowing the… Read More
DTI awards ‘Gold Bagwis’ seal to 30 Cebu establishments
June 10, 2021, 1:08 pm
CEBU CITY – The Department of Trade and Industry (DTI) in Cebu has granted the “Gold Bagwis” seal to 30 department stores, supermarkets, and service and repair shops here in recognition of their efforts to uphold the rights and welfare of consumers and the practice of responsible business… Read More
PH working with ADB, WB on measures vs. climate change
June 9, 2021, 8:14 pm
MANILA – The Philippine government is now working with the Asian Development Bank (ADB) on a goal to acquire all coal-fired power plants in Mindanao, a Department of Finance (DOF) official said. In a virtual roundtable briefing hosted by the British Embassy on Wednesday, Finance Assistant… Read More
Persons behind P544-M fake cigarette tax stamps face raps
June 9, 2021, 8:07 pm
MANILA – The Bureau of Internal Revenue (BIR) is set to file criminal charges and assess deficiency taxes against the persons behind the manufacture of some PHP544 million worth of counterfeit cigarette tax stamps seized recently in Bacolod City. In its report to Finance Secretary Carlos… Read More
Mynt gears for more 'impactful' link with public, private sectors
June 9, 2021, 6:49 pm
MANILA – Fintech company Mynt, the operator of GCash, targets to create more impactful partnerships with both the public and the private sectors. “Partnerships are really important to GCash, especially as we see ourselves as a platform player. We’ve been forging more impactful partnerships… Read More
Stocks near 7,000-level; peso almost unchanged
June 9, 2021, 6:25 pm
MANILA – The stock barometer rose to the 7,000-level Wednesday despite investors taking a wait-and-see stance, while the peso finished the day sideways against the greenback. The Philippine Stock Exchange index (PSEi) increased by 1.36 percent, or 92.82 points, to 6,902.54 points. This… Read More
Investors' search for yields hikes TDF rates
June 9, 2021, 5:34 pm
MANILA – The rates of the Bangko Sentral ng Pilipinas’ (BSP) term deposit facility (TDF) inched up on Wednesday due to high demand even as volume offering for the 14-day facility was increased. Data released by the central bank showed that the average rate of the seven-day TDF rose to 1.7582… Read More
DBP grants P750-M credit line to boost renewable energy storage
June 9, 2021, 2:54 pm
MANILA – State-owned Development Bank of the Philippines (DBP) has granted a PHP750-million revolving credit line to a fledgling energy firm for the manufacture and export of cost-effective and sustainable energy storage systems for power generation activities of renewable energy companies, a… Read More
Bargain hunting boosts PH stocks; peso ends sideways
June 8, 2021, 7:50 pm
MANILA – The local stock barometer gained on Tuesday due to bargain hunting while the peso ended the trade sideways. The Philippine Stock Exchange index (PSEi) rose by 0.68 percent, or 45.80 points, to 6,809.72 points. All Shares followed with a jump of 0.43 percent, or 17.51 points, to… Read More
Vax of more Pinoys, timely execution of recovery measures cited
June 8, 2021, 7:23 pm
MANILA – Stringent health protocols, timely execution of various recovery measures, and vaccination of more Filipinos are expected to boost the Philippine economy’s recovery, economic managers said. In a statement issued after the release of the 2021 Labor Force Survey results on Tuesday,… Read More
SEC approves EDC’s offering of green bonds
June 8, 2021, 5:23 pm
MANILA – The Securities and Exchange Commission (SEC) has considered favorably the public offering by Energy Development Corporation (EDC) of up to PHP15 billion of fixed-rate Asean green bonds. The EDC will use proceeds to fund geothermal growth and maintenance capital expenditure projects,… Read More
T-bond rate up on strong demand
June 8, 2021, 5:09 pm
MANILA – The rate of seven-year treasury bond (T-bond) rose Tuesday amid a large volume of bids. National Treasurer Rosalia de Leon said auction results signify positive turnout. “So far so good on the long (tenor),” she told journalists after the auction. “May the force be with… Read More
