Business
T-bill rates end mixed on high demand
April 19, 2021, 5:59 pm
MANILA – The rates of the Treasury bills (T-bills) registered mixed results Monday, with the uptick traced to demand for shorter-dated tenor. The average rate of the 91-day paper rose to 1.349 percent and the 182-day to 1.713 percent, but the rate of the one-year paper declined to 1.884… Read More
Oil firms raise prices this week
April 19, 2021, 4:39 pm
MANILA – Fuel prices are set to increase effective Tuesday. In separate advisories, Caltex, Cleanfuel, Petro Gazz, PTT Philippines, Seaoil, Flying V, Petron and Shell said they will hike diesel prices by PHP0.70 per liter and gasoline by PHP0.60 per liter. Caltex, Seaoil, Flying V, Petron and… Read More
ARTA vows to facilitate application of Covid-19 vax producers
April 19, 2021, 3:38 pm
MANILA – The Anti-Red Tape Authority (ARTA) has vowed to facilitate the application of potential coronavirus disease 2019 (Covid-19) vaccine manufacturers in the country by streamlining processes in the Department of Health (DOH) and the Food and Drug Administration (FDA). “The Anti-Red Tape… Read More
CLI, French hotel giant to bring int'l hospitality brand to Cebu
April 19, 2021, 2:19 pm
CEBU CITY – Cebu Landmasters Inc. (CLI) on Monday announced its partnership with French hotel giant Accor to bring the Mercure hotel brand to Cebu. To be operated by the France-based hospitality chain, Mercure Cebu Downtown is set to open in 2024 at the soon-to-be redeveloped Patria de Cebu… Read More
6 domestic flights canceled due to 'Bising'
April 19, 2021, 1:43 pm
MANILA – At least six domestic flights were canceled due to the effects of Typhoon Bising (international name Surigae), the Manila International Airport Authority (MIAA) said Monday. As of 11:53 a.m., the canceled flights were: CebGo (DG) 6177/6178 Manila-Masbate-Manila; DG 6195/6196… Read More
GIR seen to remain high this year
April 16, 2021, 6:55 pm
MANILA – An economist forecasts a positive turn-out for the country’s gross international reserves (GIR) this year despite a slide last March given the positive outlook on structural flows like inflows from overseas Filipino workers (OFWs). The Bangko Sentral ng Pilipinas (BSP) on Friday… Read More
SEC expanding list of qualified buyers
April 16, 2021, 6:49 pm
MANILA – The Securities and Exchange Commission (SEC) is seeking to expand the list of entities deemed as qualified buyers in proposed amendments to the 2015 implementing rules and regulations (IRR) of Republic Act No. 8799, or the Securities Regulation Code (SRC). Section 8 of the SRC provides… Read More
Stocks gauge down; peso firm vs. greenback
April 16, 2021, 6:45 pm
MANILA – The Philippine Stock Exchange index (PSEi) ended the week in the negative territory while the peso finished still on sideways against the US dollar. The main stocks gauge shed 0.69 percent, or 45.15 points, to 6,494.81 points. All Shares fell 0.40 percent, or 16.07 points, to… Read More
BSP 28-day paper rate falls
April 16, 2021, 5:39 pm
MANILA – The rate of the Bangko Sentral ng Pilipinas’ (BSP) 28-day securities declined Friday on the back of continued strong demand for the paper. Data released by the central bank showed that the average rate of the debt paper slipped to 1.8562 percent from 1.8795 percent during the auction… Read More
Chelsea Logistics unveils new Trans-Asia ship
April 16, 2021, 3:12 pm
CEBU CITY – Chelsea Logistics and Infrastructure Holdings Corp. on Friday disclosed its new vessel MV Trans-Asia 21 (TA 21) has completed its sea trial in Fukuoka, Japan, marking the company’s new investment amid the coronavirus disease 2019 (Covid-19) pandemic. “The shipping industry… Read More
Covid-19 vax producer eyes $40-M facility in Bulacan
April 16, 2021, 3:05 pm
MANILA – Dr. Zen Biotech, Inc., one of the vaccine manufacturer leads of the Board of Investments (BOI), is constructing a facility for production of coronavirus disease 2019 (Covid--19) jabs at the First Bulacan Industrial Estate in Malolos City. In his presentation to President Rodrigo… Read More
NEDA backs hike in pork imports, reduced tariffs
April 15, 2021, 8:30 pm
MANILA – The National Economic and Development Authority (NEDA) on Thursday said the temporary increase in pork imports to fill the supply gap will not “kill” the local hog industry. “(This) as imports would potentially account for up to 22.8 percent of total consumption,” acting… Read More
Miners’ groups welcome lifting of ban on new mining projects
April 15, 2021, 6:58 pm
MANILA – The Chamber of Mines in the Philippines (COMP) and the Philippine Nickel Industry Association (PNIA) have lauded the decision of President Rodrigo Duterte to lift the nine-year moratorium on new mining projects. “We welcome the lifting of the moratorium on new mining projects --in… Read More
EO 127 supports BSP financial inclusion bid: Diokno
April 15, 2021, 6:54 pm
MANILA – The Bangko Sentral ng Pilipinas’ (BSP) financial inclusion bid got another boost after the signing of Executive Order (EO) 127 allowing for inclusive access to satellite services. EO 127, titled “Expanding the Provision of Internet Services through Inclusive Access to Satellite… Read More
Peso still firm vs. US dollar; stocks gauge sustains gains
April 15, 2021, 6:36 pm
MANILA – The Philippine Stock Exchange index (PSEi) rose for the second consecutive day Thursday while the peso ended still sideways against the greenback. The main equities index increased by 0.26 percent, or 16.75 points, to 6,539.96 points. All Shares followed with a jump of 0.33… Read More
Loans for Covid-19 vax program best strategy for PH: DOF chief
April 15, 2021, 6:32 pm
MANILA – Taking out loans to help finance the coronavirus disease 2019 (Covid-19) vaccination program is the best approach for the government, Finance Secretary Carlos Dominguez III said Thursday. “We chose this financing strategy because we want to assure the public of two things: First,… Read More
2-week ECQ sheds P180-B in PH economy: DTI
April 15, 2021, 5:15 pm
MANILA – The Department of Trade and Industry (DTI) has estimated that the country lost 1 percent of gross domestic product (GDP) during the two-week enhanced community quarantine (ECQ) in National Capital Region (NCR) and four nearby provinces. During the Laging Handa public briefing Thursday,… Read More
Economists see further improvement of OFW remittance
April 15, 2021, 4:52 pm
MANILA – Economic recovery of more countries globally is expected to further ensure the sustained growth of remittances to the Philippines which can benefit the peso. Data released by the Bangko Sentral ng Pilipinas (BSP) on Thursday showed that cash inflows from overseas Filipino workers… Read More
DOE chief invites US firms to invest in PH energy sector
April 15, 2021, 4:46 pm
MANILA – Department of Energy (DOE) Secretary Alfonso Cusi has urged American companies to look into opportunities in the Philippine energy sector. During the Philippines-United States virtual economic briefing Thursday, Cusi said there are many business opportunities for US firms in the energy… Read More
Growth policies to boost PH economic recovery: Dominguez
April 15, 2021, 3:34 pm
MANILA – The country’s economic recovery is anchored on growth policies of the current administration and not merely on stimulus programs, Finance Secretary Carlos Dominguez III said. In a virtual briefing Thursday organized by Philippine Ambassador to the US Jose Manuel Romualdez in… Read More
