Business
BSP sets limit on pioneer digital banking players
April 29, 2021, 7:54 pm
MANILA – Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said they are limiting the initial batch of digital banking players to five as the central bank has received four license applications. In a virtual briefing Thursday, Diokno said they put a cap on the initial players… Read More
Stocks gauge, peso gain after Fed keeps rates steady
April 29, 2021, 7:08 pm
MANILA – The Philippine Stock Exchange index (PSEi) ended up for the second consecutive day on Thursday following the Federal Reserve’s decision to keep key rates steady while the peso benefited from this. The main equities index rose by 0.28 percent, or 18.37 points, to 6,487.51… Read More
Landbank releases P60-B to UCT beneficiaries
April 29, 2021, 6:43 pm
MANILA – The Land Bank of the Philippines (Landbank) has released PHP60.36 billion in unconditional cash transfers (UCTs) as of December 2020 to beneficiary-households of the Duterte administration's social mitigation program under the Tax Reform for Acceleration and Inclusion Act… Read More
DOE, UP foundation continue partnership for gas policy dev’t
April 29, 2021, 6:35 pm
MANILA – The Department of Energy (DOE) and the University of the Philippines Statistical Center Research Foundation, Inc. (UPSCRFI) have renewed their partnership to continue the second phase of the Gas Policy Development Project (GPDP 2). On Thursday, DOE Secretary Alfonso Cusi and UPSCRFI… Read More
DBP grants P195-M term loan to San Juan City school
April 29, 2021, 5:15 pm
MANILA – State-owned Development Bank of the Philippines (DBP) has granted a PHP195-million term loan to a San Juan City-based educational institution to partially finance the construction of a six-storey building which would be the site of its permanent offices and school facilities, a top… Read More
Digitization seen to boost PH insurance penetration rate
April 29, 2021, 4:20 pm
MANILA – Insurance penetration in the Philippines, which is among the lowest in Asia at less than 2 percent of the population, greatly benefits from technological innovations, an insurance company executive said. In a virtual briefing Thursday, Pru Life UK president and chief executive… Read More
ERC starts probe into Cebu’s high power cost
April 29, 2021, 1:41 pm
CEBU CITY – The Cebu Chamber of Commerce and Industry (CCCI) has cited the Energy Regulatory Commission’s (ERC) intervention in its request for the review of Visayan Electric Co.’s (VECO) power supply agreement (PSA) with its generation company Cebu Private Power Corp. (CPPC) in… Read More
DTI wants to reopen personal care, dine-in services
April 29, 2021, 9:49 am
MANILA – Department of Trade and Industry (DTI) Secretary Ramon Lopez is recommending a flexible modified enhanced community quarantine (MECQ) in the NCR Plus to gradually reopen labor-intensive sectors. In a radio interview Thursday, Lopez said the agency is eyeing to reopen personal care… Read More
BSP fully awards term deposit facility
April 28, 2021, 7:38 pm
MANILA – The Bangko Sentral ng Pilipinas (BSP) has fully awarded the term deposit facility (TDF) for seven-day and 14-day tenors. In a statement Wednesday, BSP Deputy Governor Francisco Dakila Jr. said yields for both tenors declined from last week’s rate. For the seven-day TDF, the interest… Read More
IC processes all money claims, product applications
April 28, 2021, 6:29 pm
MANILA– The Insurance Commission (IC) has processed 100 percent of monetary claims as well as license and product applications last year to meet the growing needs of the insurance industry, which expanded to PHP1.79 trillion as of the third quarter of 2020 amid the pandemic. In its report to… Read More
BCDA retains ISO certification amid pandemic
April 28, 2021, 6:21 pm
MANILA – Despite challenges posed by the coronavirus disease 2019 (Covid-19) pandemic, the Bases Conversion and Development Authority (BCDA) has retained its ISO 9001:2015 certification for meeting international standards on quality assurance and services. “The recertification of BCDA’s… Read More
ADB sees PH economy growing 4.5% this year
April 28, 2021, 5:21 pm
MANILA – The Asian Development Bank (ADB) expects the Philippine economy to recover with a growth of at least 4.5 percent this year and 5.5 percent in 2022. The country’s gross domestic product (GDP) projections assume a modest fiscal expansion, especially through infrastructure spending and… Read More
LGUs collecting pass-through fees on truckers may face probe
April 28, 2021, 1:00 pm
MANILA – A new joint memorandum circular (JMC) of the Anti-Red Tape Authority (ARTA), Department of the Interior and Local Government (DILG), and Department of Finance (DOF) is directing all local government units (LGUs) to stop collecting fees and taxes from vehicles transporting goods. During… Read More
German energy firms eye PH partners to power off-grid areas
April 28, 2021, 11:05 am
MANILA – German energy companies are eyeing to partner with local firms to provide renewable energy solutions in off-grid areas. Eight German firms are presenting their technology, particularly for solar, wind, and energy solutions during the German Energy Mission from April 26 to 30. “This… Read More
DOF open to alternative policies vs. pork supply constraints
April 27, 2021, 8:58 pm
MANILA – Department of Finance (DOF) Secretary Carlos Dominguez III is open to any options that will address pork supply problems in the country, citing that Executive Order (EO) 128 is a temporary measure targeted to address the constraints. “Again, our minds are not closed. We want to… Read More
AMLC further beefs up fight vs. laundering, terror financing
April 27, 2021, 8:54 pm
MANILA – The Anti-Money Laundering Council (AMLC) will continue to be on guard against any money laundering and terrorist financing activities, and is closely coordinating with various government agencies for any assessments and reports. This, after a police officer and a government executive… Read More
DOF chief eyes return to normal fiscal deficit next year
April 27, 2021, 7:29 pm
MANILA – Department of Finance (DOF) Secretary Carlos Dominguez III sees a return to the normal deficit level by 2022 as pandemic-related spending and ensuring implementation of the infrastructure program resulted in hikes in the government’s budget gap. In an interview with CNBC television… Read More
SEC cancels Eco Hatchery corporate registration
April 27, 2021, 7:22 pm
MANILA – The Securities and Exchange Commission (SEC) has revoked the corporate registration of Eco Hatchery and Trading Corporation for soliciting investments from the public through a Ponzi scheme. The SEC Enforcement and Investor Protection Department (EIPD) issued the order on April 23… Read More
Reduced tariff on pork imports practical solution to lower prices
April 27, 2021, 6:56 pm
MANILA – Finance Secretary Carlos Dominguez III said Tuesday President Rodrigo Duterte’s directive allowing more pork imports at lower tariffs for a temporary period is an immediate and practicable response to protect Filipino consumers from price spirals that could further drive up inflation… Read More
Reopening economy, infra spending to counter budget gap hikes
April 27, 2021, 5:56 pm
MANILA – Continued reopening of the economy, along with spending on the government’s infrastructure program, are expected to counter the impact of the rise in budget deficit as of March 2021, a bank economist said Tuesday. The Bureau of the Treasury (BTr) on Tuesday reported the… Read More
