Business
SM Prime sets P80-B capex this year
April 21, 2021, 2:18 pm
MANILA – SM Prime Holdings, Inc. (SM Prime) has earmarked PHP80 billion for capital expenditures this year to boost mainly its mall and residential business segments with due consideration to the challenges brought about by the coronavirus disease 2019 (Covid-19) pandemic. “We all know that… Read More
ARTA-PACC tie-up to boost fight vs. corruption, red tape
April 21, 2021, 1:11 pm
MANILA – The Anti-Red Tape Authority (ARTA) and the Presidential Anti-Corruption Commission (PACC) signed Wednesday a memorandum of agreement (MOA) to strengthen the government’s fight against corruption and bureaucracy. The MOA signed by ARTA director general Jeremiah Belgica and PACC… Read More
Execs optimistic on future of PH Islamic banking
April 20, 2021, 8:35 pm
MANILA – Stronger inter-agency support for the establishment of Islamic banking in the Philippines makes authorities and Islamic finance professionals see a bright future for the sector in the next few years. Lawyer Noel Tianela, Bangko Sentral ng Pilipinas’ (BSP) Supervisory Policy and… Read More
SEC clears Monde Nissin’s IPO
April 20, 2021, 6:45 pm
MANILA – The Securities and Exchange Commission has considered favorably the initial public offering (IPO) of Monde Nissin Corporation for as much as PHP72.45 billion. In its April 20 meeting, the commission en banc resolved to render effective the registration statement of Monde Nissin… Read More
Landbank doubles funds for distressed swine industry to P30B
April 20, 2021, 6:23 pm
MANILA – The Land Bank of the Philippines (Landbank) is raising its available loan window in support of local pork producers and feed millers to PHP30 billion from PHP15 billion for distressed swine industry reeling from the adverse impact of the Asian swine fever (ASF). This came following the… Read More
Temporary easing of pork import restrictions to fill supply gap
April 20, 2021, 6:06 pm
MANILA – Finance Secretary Carlos Dominguez III has called on lawmakers to support President Rodrigo Duterte’s directive allowing increased pork imports at lower tariff rates for a temporary period to address the scarcity in the domestic supply of hog meat and ensure that pork remains… Read More
Binalot launches home kitchen-based franchise
April 20, 2021, 5:39 pm
MANILA – Filipino fast-food chain Binalot has introduced its home kitchen-based franchise that would no longer require a commercial space to offer Binalot food products. Called ‘cloud franchise’, one can start a Binalot business at home. “All we require you to have is your kitchen and a… Read More
Peso nearly flat as last-minute buying spree boosts stocks
April 20, 2021, 5:00 pm
MANILA – The Philippine Stock Exchange index (PSEi) ended its two-day slide Tuesday on a last-minute buying spree while the peso continued to remain firm against the US dollar. The main equities index rose by 0.63 percent, or 40.66 points, to 6,500.42 points. All Shares followed with a jump… Read More
BTr fully awards fresh 7-year T-bond on strong demand
April 20, 2021, 4:14 pm
MANILA – Coupon rate of the freshly-issued seven-year Treasury bond (T-bond) stood at 3.625 percent. National Treasurer Rosalia de Leon said the rate is lower than in the secondary market. The Bureau of the Treasury (BTr) offered the debt paper for PHP35 billion, and bids were nearly three… Read More
Imported vehicle sales up 7% in Q1
April 20, 2021, 4:11 pm
MANILA – Sales of imported vehicles for the first quarter of the year increased by 7 percent to 15,857 units from 14,554 units sold in the same period in 2020, the Association of Vehicle Importers and Distributors (AVID) reported Tuesday. AVID said all vehicle segments except for passenger cars… Read More
Coordination, not permit needed in community pantries: ARTA chief
April 20, 2021, 3:33 pm
MANILA – Anti-Red Tape Authority (ARTA) director general Jeremiah Belgica said permits are not needed in establishing community pantries but these initiatives should be coordinated with their respective barangay. Belgica visited the community pantries in Quezon City Tuesday to remind barangay… Read More
Fitch Ratings gives PH proposed euro bond 'BBB' rating
April 20, 2021, 1:11 pm
MANILA – Fitch Ratings has assigned a ‘BBB’ rating on the country’s proposed euro-denominated bonds, the same rating as that of the sovereign. “The Philippines intends to use the net cash proceeds from the sale of the global bonds for general purposes, including budgetary support,”… Read More
S&P assigns 'BBB+' on PH's proposed euro-bond offering
April 20, 2021, 11:57 am
MANILA – The Philippine government’s planned benchmark euro-denominated senior unsecured notes have been assigned a ‘BBB+’ rating by S&P Global Ratings. The rating is the same as S&P’s rating for the Philippine economy, which, in turn, has a stable outlook. “The notes represent direct,… Read More
PAL cancels Manila-HK flights
April 19, 2021, 8:24 pm
MANILA – Due to restrictions imposed by the Hong Kong government, flag carrier Philippine Airlines (PAL) announced on Monday the cancellation of Manila-Hong Kong flights scheduled on April 20, 23 and 27. In an advisory, PAL said Manila-Hong Kong flights will operate as all-cargo… Read More
AirAsia PH eyes tapping more e-wallet providers
April 19, 2021, 7:44 pm
MANILA – AirAsia Philippines is looking to tap more e-wallet service providers to allow more payment options to its passengers. "We will definitely tap other e-wallets to make sure that our guests get the most out of their travel and lifestyle experience. AirAsia is moving beyond just an… Read More
SEC launches new company registration system
April 19, 2021, 7:38 pm
MANILA – The Securities and Exchange Commission (SEC) has launched the Electronic Simplified Processing of Application for Registration of Company (eSPARC) to facilitate faster and easier registration of corporations in the country Starting April 19, the commission will accept and process under… Read More
PH eyes another euro bond issuance
April 19, 2021, 7:34 pm
MANILA – The Philippines is again eyeing to issue euro-denominated benchmark bonds, a few months after it issued US dollar-denominated debt paper in December 2020. A report from the US Securities and Exchange Commission (SEC) showed that the Philippines has appointed BNP PARIBAS, Credit… Read More
Peso firm; stocks slip as investors choose safe haven
April 19, 2021, 6:16 pm
MANILA – Risk-off sentiment reigned in the local bourse Monday resulting in the negative close of the main equities index, but the peso continued to keep its footing against the US dollar. The Philippine Stock Exchange index (PSEI) shed 0.54 percent, or 35.05 points, to 6,459.76… Read More
PH still ideal investment destination for Chinese biz
April 19, 2021, 6:07 pm
MANILA – The Philippines remains an ideal investment destination as investors and businesses continue to look at the country to grow their businesses despite the pandemic. Department of Trade and Industry (DTI) Undersecretary and Board of Investments (BOI) Managing Head Ceferino Rodolfo… Read More
DOF resolve to sustain ample fiscal resources vs. pandemic cited
April 19, 2021, 6:03 pm
MANILA – Secretary Carlos Dominguez III underscored on Monday the firm resolve of the Department of Finance (DOF) to keep the country’s strong fiscal position and ensure ample financial resources in the protracted battle against the coronavirus disease 2019 (Covid-19) pandemic and the parallel… Read More
