Business
Affirmation of PH credit rating plus for gov't borrowing plans
April 23, 2021, 5:43 pm
MANILA – The latest affirmation by Rating and Investment Information Inc. (R&I) of its BBB+ rating with a stable outlook on the Philippines is a plus on the government’s borrowing plans, an economist said. “The rating affirmation boosts (the) government’s confidence to continue its… Read More
Stocks slip anew; peso remains firm vs. US dollar
April 23, 2021, 5:36 pm
MANILA – The local main equities index slipped for the third consecutive day on Friday but the peso sustained its strength against the greenback. The Philippine Stock Exchange index (PSEi) shed 0.58 percent, or 37.46 points, to 6,378.07 points. All Shares slipped by 0.51 percent, or 20.22… Read More
Consumers urged to patronize shops with ‘safety seal’
April 23, 2021, 3:53 pm
MANILA – Members of the Inter-Agency Task Force for the Management of Emerging Infectious Diseases (IATF) have encouraged consumers to patronize business establishments with safety seals which affirm good housekeeping for those that strictly comply with minimum health protocols. On Friday,… Read More
Cebu Chamber brings high power rates issue to PCCI
April 23, 2021, 2:00 pm
CEBU CITY – The Cebu Chamber of Commerce and Industry (CCCI) on Friday said it has brought to the Philippine Chamber of Commerce and Industry (PCCI) its advocacy to lower the power rates in the province. CCCI, the biggest group of businessmen in Cebu, has appealed for a reasonable electricity… Read More
Japanese firm affirms PH BBB+ rating, ‘stable’ outlook
April 23, 2021, 1:47 pm
MANILA – In a vote of confidence on the Philippine economy’s coronavirus disease 2019 (Covid-19) recovery and growth prospects over the medium term, Japanese debt watcher Rating and Investment Information Inc. (R&I) has kept the country’s investment grade credit rating of BBB+ with a… Read More
13% of MSMEs still closed during MECQ: DTI
April 23, 2021, 11:43 am
MANILA – Department of Trade and Industry (DTI) Secretary Ramon Lopez on Friday said 13 percent of micro, small, and medium enterprises (MSMEs) are still closed during the modified enhanced community quarantine (MECQ) in the NCR (National Capital Region) Plus area. In a television interview,… Read More
Avail of aid via coops, DA urges farmers, fisherfolk
April 22, 2021, 8:41 pm
MANILA – Farmers and fisherfolk must join cooperatives to benefit from various assistance programs of the Department of Agriculture (DA). Undersecretary for High-Value Crops and Rural Credit Evelyn Laviña said benefits cannot be disbursed individually. "Dapat ang farmer or fisherman ay parte ng… Read More
EO on pork imports tariff cut to help ease inflation rate
April 22, 2021, 7:01 pm
MANILA – The domestic inflation rate this year is seen to decelerate by 0.3 percentage points with the help of Executive Order (EO) 128, which modifies for a certain period the tariff on pork imports within the minimum access volume (MAV). Monetary authorities forecast inflation this year to… Read More
PH stocks index falls anew; peso recovers
April 22, 2021, 5:41 pm
MANILA – Risk-off sentiments continue to reign in the local bourse resulting in the negative close of the main index but the peso was able to recover and finished the trade sideways against the greenback. The Philippine Stock Exchange index (PSEi) fell by 0.37 percent, or 23.86 points, to… Read More
DOE assures enough power supply during dry months
April 22, 2021, 4:51 pm
MANILA – As power demand peaks during the dry season, the Department of Energy (DOE) does not foresee rotational brownouts as long as there will be no further shutdown of power plants that could substantially impact the Luzon grid. DOE Assistant Secretary Redentor Delola said in a press briefing… Read More
Improved fundamentals continue to benefit PH's bond offerings
April 22, 2021, 4:31 pm
MANILA – Improved fundamentals and proven economic resiliency allowed the Philippines to successfully tap new foreign fund sources to boost financing for various programs this year, an economist said. This, after the Bureau of the Treasury (BTr) announced on Thursday that the government was able… Read More
DA-PhilMech distributes P15-B farm machinery to rice farmers
April 22, 2021, 4:06 pm
MANILA – About one million farmers nationwide will be recipients of the PHP15 billion worth of farm machinery and equipment of the Department of Agriculture (DA) under the Rice Competitiveness Enhancement Fund (RCEF) mechanization program. "The continued implementation of the Rice… Read More
BPI eyes to half coal-fired power project financing by '26
April 22, 2021, 1:15 pm
MANILA – The Ayala-led Bank of the Philippine Islands (BPI) bids to reduce by half the amount of its financing for coal power-fired plants in the next five years. Outgoing BPI president and CEO Cezar P. Consing, during the bank’s virtual annual stockholders meeting on Thursday, said: “It is… Read More
Bank exec sees sustained digital improvements post-pandemic
April 21, 2021, 8:17 pm
MANILA – An official of Union Bank of the Philippines (Unionbank) sees further improvements on digital services post-pandemic as people have greatly benefited from technological enhancements on banking services, among others. “I think the digital technologies and applications will still be… Read More
IT infra investment ensures inclusive economic recovery
April 21, 2021, 7:53 pm
MANILA – Investing on information technology (IT) infrastructure is now among the priorities of the Duterte administration to ensure an inclusive recovery from the pandemic, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said. During the virtual event hosted by the Asian Development… Read More
Diokno eyes rise of pawnshops’ share in financial inclusion
April 21, 2021, 7:47 pm
MANILA – Share of pawnshops in the central bank’s bid for financial inclusion is expected to rise given the sector’s huge network nationwide compared to banks. In a virtual briefing Wednesday, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said the industry has an 82 percent… Read More
Stocks gauge, peso slip on rising Covid-19 cases
April 21, 2021, 6:00 pm
MANILA – The Philippine Stock Exchange index (PSEi) declined anew on the rising coronavirus disease 2019 (Covid-19) cases around the world while the peso was not spared. The main equities index shed 0.94 percent, or 61.03 points, to 6,439.39 points. It was followed by most counters, with… Read More
Aboitiz integrated economic centers well-positioned for CREATE
April 21, 2021, 4:38 pm
MANILA – New locators at integrated economic centers of Aboitiz InfraCapital Inc. are well-positioned to avail optimum tax benefits, thanks to the government’s Corporate Recovery and Tax Incentives for Enterprises Act (CREATE) law which aims to provide lower taxes to qualified… Read More
DOE to take steps to protect oil, gas resources in PH waters
April 21, 2021, 4:34 pm
MANILA – Department of Energy (DOE) Secretary Alfonso Cusi has vowed to take necessary steps to protect oil and gas resources in the Philippines’ exclusive economic zone (EEZ) should any foreign state be engaged in petroleum activities without any permission from his office. Cusi made the… Read More
TDF rates decline anew as liquidity remains high
April 21, 2021, 2:41 pm
MANILA – The high liquidity situation in the country continues to result in the drop in Bangko Sentral ng Pilipinas’ (BSP) term deposit facility (TDF) rates. Data released by the central bank Wednesday showed that the average rate of the seven-day facility fell to 1.7541 percent and the… Read More
