Business
Bright prospects seen for mobile top-up in PH amid pandemic
May 31, 2021, 6:00 pm
MANILA – Dublin-based mobile top-up service firm Ding sees bright prospects in top-up payment in the Philippines amid the coronavirus disease 2019 (Covid-19) pandemic, according to its executive. Ding chief commercial officer Rupert Shaw said the Covid-19 crisis has accelerated the shift to use… Read More
Oil firms set to hike pump, LPG prices anew
May 31, 2021, 5:54 pm
MANILA – Another oil price increase takes effect starting Tuesday. In separate advisories, Caltex, Cleanfuel, Petro Gazz, PTT Philippines, Seaoil, Shell, and Unioil will raise diesel prices by PHP0.40 per liter, and gasoline prices by PHP0.80 per liter. Kerosene prices of Caltex, Seaoil,… Read More
Insurance firms gear up for new accounting standard
May 31, 2021, 5:22 pm
MANILA – The Insurance Commission (IC) has started the countdown for insurance companies in the country to transition to a new set of accounting policies that will make their financial reports more transparent especially for the investing public and universally comparable. In a webinar on the… Read More
BSP sees May average inflation at 4.4%
May 31, 2021, 4:39 pm
MANILA – Philippine monetary officials eye rate of price increases to average at 4.4 percent for May 2021, with the range projected between 4-4.8 percent, driven by higher meat prices. Aside from higher meat prices, the elevated domestic petroleum prices, as well as uptick in power rates in… Read More
MVP Group procures 800K doses of Covid-19 vaccines
May 30, 2021, 1:29 pm
MANILA – Companies of magnate Manuel V. Pangilinan have procured 800,000 doses of coronavirus disease 2019 (Covid-19) vaccines for their personnel and household members of their employees. Pangilinan said 750,000 doses of those vaccines are from Moderna and 50,000 from AstraZeneca. “We have… Read More
More biz sourcing power from solar
May 29, 2021, 1:18 pm
MANILA – Commercial establishments sourcing their electricity requirement from renewable energy like solar power is increasing in the country. Solar power provider Green Heat Corp. general manager Robert Martin said in a press briefing Friday the company has six to 12 megawatts of solar rooftop… Read More
Positive news overseas further lifts PH equities index, peso
May 28, 2021, 7:07 pm
MANILA – Philippine Stock Exchange index (PSEi) ended the week up partly due to positive sentiments in the US and the peso mirrored this output. The main equities index gained 0.14 percent, or 9.37 points, to 6,674.51 points. All Shares increased by 0.31 percent, or 12.56 points, to 4,047.48… Read More
Electronics sector vital to economic recovery, digitalization
May 28, 2021, 4:46 pm
MANILA – The electronics industry has continued to support the country’s economy amid the coronavirus diseases 2019 (Covid-19) pandemic, and is seen to play a vital role in recovery and digital transformation. At the Semiconductor and Electronics Industries in the Philippines Foundation, Inc.… Read More
Rice tariff cut not due to trade talks: DTI
May 28, 2021, 3:49 pm
MANILA – Department of Trade and Industry (DTI) Secretary Ramon Lopez on Friday clarified that the lowering of tariff for imported rice is not an outcome of trade agreement discussions but only to diversify the sourcing of the staple. “The tariff adjustment was not due to any trade agreement… Read More
PH main equities index seen to rise after ratings affirmation
May 28, 2021, 1:31 pm
MANILA – An economist forecasts further jump in the local bourse’s main index following S&P Global Ratings’ affirmation of its investment-grade rating of ‘BBB+’, with stable outlook, for the Philippines. “There could still be some upside in the stock market towards the 6,700/6,750… Read More
S&P Global Ratings affirms PH investment grade rating
May 27, 2021, 8:23 pm
MANILA – S&P Global Ratings on Thursday affirmed its ‘BBB+’ ratings on the Philippines after noting the domestic economy’s recovery, which it expects to accelerate in 2022 partly on the coronavirus disease 2019 (Covid-19) vaccination rollout. It also kept the rating’s outlook stable,… Read More
APEC's growth surpasses expectations in 2020
May 27, 2021, 8:13 pm
JAKARTA – New economic data from the Asia-Pacific Economic Cooperation (APEC) region shows a softer economic contraction of 1.9 percent in 2020, with continued fiscal measures resulting in a rise in government consumption and increased investment and household consumption. This evaluation was… Read More
Window dressing buoys stocks; peso improves
May 27, 2021, 7:31 pm
MANILA – Both the local main equities index and the peso, which improved to the 47-level, ended Thursday on a positive note, partly on bargain hunting. The Philippine Stock Exchange index (PSEi) rose by 5.11 percent, or 323.90 points, to 6,665.14 points. All Shares increased by 3.48… Read More
PH remains key market for manufacturing investment
May 27, 2021, 7:00 pm
MANILA – The Philippines remains an attractive market for manufacturing investments, Japan External Trade Organization (JETRO) Manila Office Investment and Economic Partnership Agreement (EPA) advisor Tomihiro Ando said Thursday. At the Security Bank’s virtual economic forum, Ando cited a… Read More
BSP exec downplays effects of high inflation due to weak demand
May 27, 2021, 6:37 pm
MANILA – The pandemic-hit domestic demand is expected to counter any second-round effects of elevated inflation rate and not add any price pressures, a ranking Bangko Sentral ng Pilipinas (BSP) said. In a virtual briefing Thursday, BSP Monetary Policy Research Group Director Dennis Lapid said… Read More
Women entrepreneurs can add $280-B in SEA e-commerce
May 27, 2021, 6:32 pm
MANILA – Supporting women entrepreneurs through training and financial services will allow them to inject an additional USD280 billion in the e-commerce market in Southeast Asia between 2025 and 2030, according to the Women and E-commerce in Southeast Asia report of the International Finance… Read More
PNB chief financial officer dies
May 27, 2021, 4:53 pm
MANILA – Lucio Tan-led Philippine National Bank (PNB) lost a ranking official on Thursday. The bank’s chief financial officer (CFO) and executive vice president (EVP), Nelson Reyes, died of an undisclosed cause. “Our thoughts and prayers are with his family,” it said in a statement,… Read More
P83-B LNG terminal projects to rise in next 4 years
May 27, 2021, 3:51 pm
MANILA – Six companies that aim to put up liquefied natural gas (LNG) terminals in the country will be investing PHP82.93 billion or around USD1.61 billion, Department of Energy (DOE) Assistant Secretary Leonido Pulido III said. During the LNG Opportunities in the Philippines 2021 webinar of… Read More
Property developer sees better outlook for real estate in 2021
May 27, 2021, 2:22 pm
CEBU CITY – A Cebu-based property developer is looking to buck industry trends in 2021, as it sets 25 projects collectively valued at PHP19 billion to be rolled out in the Visayas and Mindanao (VisMin). “Our 2021 projects will expand our VisMin footprint to cities like Ormoc, Bohol, Bacolod,… Read More
Fund manager eyes 2021 PH GDP growth at 3.9%-7.1%
May 27, 2021, 2:01 pm
MANILA – An executive of Sun Life Asset Management Company Inc. (SLAMCI) is projecting a growth of between 3.9 to 7.1 percent for the Philippine economy this year, with the upper end in line with the government’s target. “The midpoint is about (a) 5.5-percent GDP (gross domestic product)… Read More
