Business
DBCC cuts 2021 GDP target due to stricter lockdown
May 18, 2021, 8:30 pm
MANILA – Economic managers have reduced their target of the country’s gross domestic product (GDP) this year from 6.5-7.5 percent to 6-7 percent due partly to the enhanced community quarantine (ECQ) from March 27 to April 11 in the National Capital Region (NCR) Plus. In a virtual briefing… Read More
Imported vehicle sales upbeat amid pandemic
May 18, 2021, 7:20 pm
MANILA – An industry group said on Tuesday sales of imported vehicles in the country have recovered for the first four months of the year compared to 2020 sales when Luzon was under stringent community quarantine. The Association of Vehicle Importers and Distributors (AVID) reported that sales… Read More
Peso almost unchanged; stocks slip still on inflation concerns
May 18, 2021, 6:30 pm
MANILA – The local main equities index shed Tuesday partly on inflation concerns in the US while the peso remained firm against the greenback. The Philippine Stock Exchange index (PSEi) lost 0.62 percent, or 38.84 points, to 6,244.74 points. All Shares dipped by 0.36 percent, or 14.02 points,… Read More
Operator saves P4.5-B to sustain Cebu airport ops in 3 years
May 18, 2021, 4:58 pm
CEBU CITY – Megawide Construction Corp.’s airport subsidiary GMR-Megawide Cebu Airport Corporation (GMCAC) on Tuesday announced it will save PHP4.5 billion in cash in the next three years to sustain the operations of the Mactan-Cebu International Airport (MCIA) while regular travel remains… Read More
7-yr T-bond rate rises on inflation issues
May 18, 2021, 3:08 pm
MANILA – The rate of seven-year Treasury bond (T-bond) rose Tuesday on the domestic inflation rate concerns, National Treasurer Rosalia de Leon said. The average rate of the paper rose to 3.678 percent from 3.529 percent during the auction last April 20. The Bureau of the Treasury (BTr)… Read More
PEZA bullish on Japanese firms investments in ecozones
May 18, 2021, 2:24 pm
MANILA – An official of the Philippine Economic Zone Authority (PEZA) said the agency remains optimistic on investments from Japanese companies despite the coronavirus disease 2019 (Covid-19) pandemic. In his personal social media account, PEZA deputy director general Tereso Panga shared that… Read More
Construction firm eyes more ‘Build, Build, Build’ projects
May 18, 2021, 1:54 pm
MANILA – Construction firm D.M. Consunji Inc. intends to participate in building more projects under the infrastructure program of the government, optimistic about the construction staging a strong bounce-back with the start of coronavirus vaccines rollout in the country. “Yes, we intend to… Read More
ADB-backed project to help LGUs boost revenues
May 18, 2021, 1:48 pm
MANILA – Finance Secretary Carlos Dominguez III said Tuesday an Asian Development Bank (ADB)-funded project designed to boost the revenue-raising capacity of local government units (LGUs) will help the Philippines continuously build its fiscal resilience as it undertakes its program for economic… Read More
Economist eyes sustained rise of remittances
May 17, 2021, 7:32 pm
MANILA – An economist forecasts continued improvement of remittance inflows to the Philippines, just like what is happening in the last two months until March, as more countries roll out their respective coronavirus disease 2019 (Covid-19) vaccine programs. The Bangko Sentral ng Pilipinas (BSP)… Read More
Stocks up on bargain hunting; peso closes sideways
May 17, 2021, 5:58 pm
MANILA – The Philippine Stock Exchange index (PSEi) ended the week’s first trading day up on bargain hunting while the peso finished sideways against the US dollar. The main equities index rose by 0.23 percent, or 14.22 points, to 6,283.58 points. All Shares increased by 0.27 percent,… Read More
T-bill rates down on cut in BSP inflation forecast
May 17, 2021, 3:58 pm
MANILA – The rates of the Philippines-issued Treasury bills (T-bills) declined Monday partly due to reduction in the Bangko Sentral ng Pilipinas’ (BSP) average inflation projection for this year, National Treasurer Rosalia de Leon said Monday. The average rate of the 91-day paper went… Read More
Prices of gasoline down, diesel up
May 17, 2021, 3:55 pm
MANILA – Oil firms will slash prices of gasoline but will increase those of diesel starting Tuesday morning. In separate advisories, Cleanfuel, Petro Gazz, and Seaoil said they will roll back gasoline prices by PHP0.20 per liter. Except for Cleanfuel, they will increase diesel prices by… Read More
21% of German firms in PH say they are in ‘good situation’
May 17, 2021, 3:09 pm
MANILA – The latest survey of the German-Philippine Chamber of Commerce and Industry (GPCCI) shows that more companies consider that they are currently in a good situation, while more of them see no apparent changes in economic development prospects amid the pandemic. The AHK World Business… Read More
DTI to submit RCEP ratification to PRRD this month
May 17, 2021, 2:48 pm
MANILA – The Department of Trade and Industry (DTI) is set to submit the request to ratify the Regional Comprehensive Economic Partnership (RCEP) to President Rodrigo Duterte within this month, a trade official said. DTI Assistant Secretary Allan Gepty told the Philippine News Agency that the… Read More
Vax rollout driving optimism for biz recovery: Cebu developer
May 17, 2021, 1:55 pm
CEBU CITY – Property developer Cebu Landmasters Inc. (CLI) has expressed that the rollout of the vaccines is driving optimism that business activity would step up moving forward, paving the way for the country’s full economic recovery. This was expressed by CLI chief operating officer Franco… Read More
Mynt eyes empowering more MSMEs, OFWs
May 14, 2021, 6:32 pm
MANILA – Fintech startup Mynt wishes to empower more Filipinos, especially the micro, small and medium enterprises (MSMEs) and overseas workers, by leveraging how the GCash app could help them in their digital transactions, its executives said. "We want to mobilize the economy, help (the… Read More
PH stocks gauge improves, peso ends little changed vs. USD
May 14, 2021, 5:38 pm
MANILA – The Philippine Stock Exchange index (PSEi) recovered Friday due to bargain hunting but the peso sustained its sideways close against the greenback. The main equities index rose by 0.53 percent, or 32.96 points, to 6,269.36 points. All Shares, however, fell by 0.18 percent, or 7.02… Read More
Economists eye another record-high GIR for PH
May 14, 2021, 5:31 pm
MANILA – Another record-high foreign reserves is projected for the Philippines in the coming months as structural inflows remain resilient and quarantine measures support the improvement in the trade deficit. Preliminary data released by the Bangko Sentral ng Pilipinas (BSP) on Friday showed… Read More
Subic posts 10% rise in container cargo volume in Q1
May 14, 2021, 5:00 pm
SUBIC BAY FREEPORT – Containerized cargo volume from various export and import transactions here unexpectedly increased in the first quarter (Q1) of this year even as the Port of Subic registered fewer ship calls as a result of trade restrictions under the coronavirus disease 2019 (Covid-19)… Read More
Charter economic reforms to boost private sector role in recovery
May 14, 2021, 4:59 pm
MANILA – Department of the Interior and Local Government (DILG) Undersecretary Jonathan Malaya said the private sector plays a “very crucial” role in the country’s economic growth and recovery amid the coronavirus disease 2019 (Covid-19) pandemic. Malaya, in an economic forum on Friday,… Read More
