Business
Gov’t fast-tracking contact tracing efforts, national ID: NEDA
May 4, 2021, 1:26 pm
MANILA – The Philippine government is recalibrating its coronavirus disease 2019 (Covid-19) response to better manage risks and fast-track solutions on contact-tracing and the national identification (ID) deployment, the National Economic and Development Authority (NEDA) said. “Instead of… Read More
DOF chief calls on ADB to hike loan portfolio for next 5 years
May 3, 2021, 8:44 pm
MANILA – Department of Finance (DOF) Secretary Carlos Dominguez III has called on Manila-based Asian Development Bank (ADB) to level up and increase its loan portfolio in the next five years to strongly boost recovery efforts of its member-countries. Asked about his insights on how the ADB can… Read More
Economist sees gov’t debt to remain sustainable amid upticks
May 3, 2021, 8:38 pm
MANILA – An economist projects government debt to remain sustainable even after it registered another debt uptick in March this year given the need to mainly finance pandemic and economic recovery-related programs. Data released by the Bureau of the Treasury (BTr) on Monday showed that total… Read More
Power firm to vaccinate workers, residents in Antique town
May 3, 2021, 7:39 pm
MANILA – Integrated energy firm Semirara Mining and Power Corp. (SMPC) has announced the coronavirus disease 2019 (Covid-19) vaccination plan for its workers and residents in Semirara Island as it ramps up its pandemic response. At the company’s annual stockholders’ meeting Monday, SMPC… Read More
Stocks, peso nearly flat on investors’ wait-and-see stance
May 3, 2021, 5:21 pm
MANILA – Investors’ wait-and-see stance following the earnings report season in the US and developments on the pandemic resulted in the sideways close of both the local main equities index and the peso on Monday. The Philippine Stock Exchange index (PSEi) lost 0.03 percent, or 1.59 points, to… Read More
T-bill rates slip amid elevated inflation rate expectations
May 3, 2021, 5:16 pm
MANILA – National Treasurer Rosalia de Leon said on Monday risk-on sentiments among investors resulted in the decline in rates of Treasury bills (T-bills) despite the expected elevated inflation for April 2021. The average rate of the 91-day T-bill slipped to 1.306 percent, the 182-day T-bill… Read More
Pump prices up for 3rd straight week
May 3, 2021, 4:29 pm
MANILA – Oil companies will implement another price increase effective Tuesday morning. In separate advisories, Caltex, Cleanfuel, Seaoil, Shell, and Unioil said diesel prices will go up by PHP0.35 per liter, while gasoline prices will increase by PHP0.20 per liter. Caltex, Seaoil, and Shell… Read More
PH manufacturing sector contracts in April
May 3, 2021, 3:58 pm
MANILA – The country’s manufacturing purchasing managers’ index (PMI) for April 2021 contracted to 49 from a score of 52.2 of the previous month, the IHS Markit reported Monday. IHS Markit economist Shreeya Patel attributed the decline to tighter community quarantine measures particularly… Read More
Cebu-based developer ramps up expansion in VisMin
May 3, 2021, 3:55 pm
CEBU CITY – Cebu Landmasters Inc. (CLI) disclosed on Monday it has issued PHP3 billion in corporate notes to partially fund its planned capital expenditure this year, including its expansion into the dormitel business here and other strategic acquisitions in the Visayas and Mindanao even amid… Read More
PH keeps out of US Special 301 Watchlist for 8 years
May 2, 2021, 1:09 pm
MANILA – Strong enforcement measures have kept the Philippines out of the United States' (US) watchlist, which flags countries with pressing concerns in intellectual property (IP) rights protection, while also successfully eliminating an allegation raised since 2019. “We welcome the… Read More
ADB-supported infra projects in PH to create more jobs
May 1, 2021, 6:42 pm
MANILA – After supporting the Philippine government’s program to fight coronavirus disease 2019 (Covid-19), the Asian Development Bank (ADB) will focus its financing program in the country to accelerate job generation. During the Task Group on Economic Recovery-National Employment Recovery… Read More
Gov’t allots P2.5-T for economic recovery: NEDA chief
May 1, 2021, 6:03 pm
MANILA – Socioeconomic Planning Secretary Karl Kendrick Chua said on Saturday the government has allocated PHP2.5 trillion this year as part of the government’s three-pronged approach for economic recovery. At the Job Summit organized by the Task Group on Economic Recovery-National Employment… Read More
Private sector to boost vax confidence among employees
May 1, 2021, 5:51 pm
MANILA – The private sector has launched a campaign that will work on boosting Filipinos confidence in coronavirus disease 2019 (Covid-19) vaccines. During the Vaccine Summit: Equitable Distribution and Safety, Presidential Adviser on Entrepreneurship Joey Concepcion said Friday some 1,000… Read More
Jobs recovery task force bats for P8-K monthly wage subsidy
May 1, 2021, 4:47 pm
MANILA – The Inter-Agency Task Force on the National Employment Recovery Strategy (NERS) is working on the rollout of the proposed wage subsidy for private-sector workers, Department of Trade and Industry (DTI) Secretary Ramon Lopez said on Saturday. During the NERS Job Summit on Labor Day,… Read More
BSP 28-day bills rate declines anew
April 30, 2021, 5:41 pm
MANILA – Rate of the Bangko Sentral ng Pilipinas’ (BSP) 28-day debt paper fell Friday which a monetary executive traced to ample supply of domestic liquidity in the economy. Data released by the central bank showed that average rate of the securities slipped to 1.8052 percent from 1.8286… Read More
PSEi ends week down, peso improves vs. US dollar
April 30, 2021, 5:18 pm
MANILA – The Philippine Stock Exchange index (PSEi) ended the week in the red, partly on investors’ preference for safe-haven assets but the local currency improved against the US dollar. The main equities gauge shed 1.8 percent, or 116.64 points, to 6,370.87 points. All Shares declined by… Read More
BSP eyes April '21 inflation rate between 4.2-5%
April 30, 2021, 5:02 pm
MANILA – Improvement in the supply of some food items is seen to benefit the Philippines' April 2021 inflation rate, which the Bangko Sentral ng Pilipinas (BSP) forecasts to range between 4.2-5 percent. In a Viber message to journalists Friday, BSP Governor Benjamin Diokno said downside price… Read More
DOF exec cites 'long-term benefits' of vax program loans
April 30, 2021, 4:29 pm
MANILA – A Department of Finance (DOF) official on Friday addressed questions on the government’s decision to borrow money to fund the coronavirus disease (Covid-19) vaccination program, citing its long-term benefits. In a Laging Handa briefing, Finance Assistant Secretary Mark Dennis Joven… Read More
Reopening of personal care, dine-in ‘very calculated’: DTI
April 30, 2021, 2:54 pm
MANILA – Trade Secretary Ramon Lopez said Friday allowing limited capacity on personal care services and dine-in in food establishments is a “very calculated” decision from the Inter-Agency Task Force for the Management of Emerging Infectious Diseases (IATF). This, as the National Capital… Read More
Online trade transactions boost CAR economy: PSA
April 30, 2021, 1:24 pm
BAGUIO CITY – Transactions done online including payments using the different e-banking platforms and online transaction accounts gave a boost to the Cordillera Administrative Region’s (CAR) economy amid the pandemic, the Philippine Statistics Authority (PSA)-CAR said. Villafe Alibuyog,… Read More
