Business
Cebu airport posts P1.11-B revenue in 2020
April 15, 2021, 3:29 pm
CEBU CITY – The Mactan-Cebu International Airport (MCIA) posted a revenue of PHP1.11 billion last year as passenger traffic plunged amid the coronavirus disease 2019 (Covid-19) pandemic. This was disclosed on Thursday by Megawide Construction Corp., one of the firms managing the country’s… Read More
DBP grants P1.27-B to boost health care in Tuguegarao, Bulacan
April 15, 2021, 1:46 pm
MANILA – State-owned Development Bank of the Philippines (DBP) has signed two term loan agreements amounting to PHP1.275-billion with Allied Care Experts (ACE) Medical Group for the enhancement of its two health facilities located in Northeast and Central Luzon, a top official said. DBP… Read More
USTDA to fund Cebu smart transportation system masterplan
April 15, 2021, 1:39 pm
MANILA – The United States Trade and Development Agency (USTDA), the Department of Finance (DOF), and the Department of Transportation (DOTr) signed Thursday a grant agreement for the Mactan Cebu Intelligent Transportation System masterplan. In a virtual economic briefing organized by the… Read More
PH continues balancing support for economy, debt sustainability
April 15, 2021, 1:31 pm
MANILA – Finance Secretary Carlos Dominguez III said Thursday the Philippines is committed to continue striking a “delicate balance” between providing substantial support to the economy and keeping its policy of long-term debt sustainability in its fight to defeat and recover from the… Read More
SMC to speed up work on Skyway Extension
April 14, 2021, 8:07 pm
MANILA – Following the opening of the Skyway Extension’s four-kilometer northbound section to the public, San Miguel Corporation (SMC) said construction of the project’s southbound section will advance and move at a faster pace in time for completion by the third quarter of this year. … Read More
Peso almost unchanged; stocks recover on bargain hunting
April 14, 2021, 5:36 pm
MANILA – The local stock barometer recovered Wednesday after a three-day slide but the peso continued with its sideways close against the US dollar. The Philippine Stock Exchange index (PSEi) inched up by 1.01 percent, or 65.42 points, to 6,523.21 points. This was trailed by all other… Read More
BCDA 5-year contribution to AFP hits PHP17.8-B
April 14, 2021, 5:28 pm
MANILA – The Bases Conversion and Development Authority (BCDA) has contributed a total of PHP17.8 billion to the Armed Forces of the Philippines (AFP) during the first five years of the Duterte administration. In a statement Wednesday, BCDA said its contribution to AFP from 2016 to 2021… Read More
BSP term deposit facility rates slip anew
April 14, 2021, 5:25 pm
MANILA – The rate of the Bangko Sentral ng Pilipinas’ (BSP) term deposit facility (TDF) declined further Wednesday as domestic liquidity remained ample. BSP data show that the average rate of the seven-day facility fell to 1.7737 percent from last week’s 1.7842 percent. Average rate of… Read More
ARTA welcomes new advisory office to streamline gov’t processes
April 14, 2021, 5:21 pm
MANILA – Anti-Red Tape Authority (ARTA) Director-General Jeremiah Belgica on Wednesday welcomed Executive Order (EO) 129 creating the Office of the Presidential Adviser on Streamlining of Government Processes (OPASGP). Belgica said the creation of OPASGP is not a redundancy of ARTA’s… Read More
Megaworld closes deals for new office leases
April 14, 2021, 3:27 pm
MANILA – Andrew Tan-led property giant Megaworld closed deals for new office leases even as the last three quarters of 2020 were marred by community lockdowns across the country. Around 135,000 square meters of fresh office space inventory were leased out in the company’s townships in Iloilo,… Read More
Cebu retail giant bullish on industry prospects
April 14, 2021, 3:11 pm
CEBU CITY – Cebu-based retailer Metro Retail Stores Group Inc. (MRSGI) posted a net loss of PHP449.6 million last year, a reversal of the PHP775.6-million profit recorded the previous year, but the company has remained bullish on prospects for the retail industry. The Gaisano family-owned… Read More
Biz groups back call on China to withdraw vessels from WPS
April 14, 2021, 3:07 pm
MANILA – Several business groups have expressed their support to Defense Secretary Delfin Lorenzana, other government officials, and various groups calling on China to withdraw their vessels from Julian Felipe Reef in the West Philippine Sea. “Our exclusive right over the Julian Felipe Reef… Read More
Filipinos lap up online shopping amid pandemic: survey
April 13, 2021, 7:31 pm
MANILA – The online presence of businesses proved most useful during the pandemic as physical restrictions continue to be observed. Facebook's Emerging Trends Research showed that marketers who were able to pivot digitally amid the health crisis gained profits and it is more likely that… Read More
DOF consults public on PPSA draft rules on e-registry fees
April 13, 2021, 7:06 pm
MANILA – The Department of Finance (DOF) has posted online through its website the draft regulation setting the fees for the use of the Personal Property Security Act (PPSA) electronic registry and is asking the public to submit comments until April 22. … Read More
Peso still flat as stocks sustain downtrend on lockdown worries
April 13, 2021, 6:26 pm
MANILA – The Philippine Stock Exchange index (PSEi) ended Tuesday still in the negative territory but the peso remained steady against the US dollar. The main stocks gauge further shed 0.93 percent, or 60.85 points, to 6,457.79 points. All Shares lost 0.86 percent, or 34.44 points, to… Read More
Moody’s revises PH banking sector outlook to stable
April 13, 2021, 5:19 pm
MANILA – Moody’s Investors Service has changed its outlook on the Philippines’ banking system from negative to stable, citing its forecast of a mild recovery for the domestic economy this year which supports the sector. “However, asset risks remain high because of a prolonged… Read More
Vehicle sales recover in Q1
April 13, 2021, 5:14 pm
MANILA – Automotive vehicle sales recovered in the first quarter of the year amid the global health and economic crisis, the joint report of the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and the Truck Manufacturers Association (TMA) said Tuesday. CAMPI and TMA… Read More
Megawide to start construction of Malolos-Clark Railway project
April 13, 2021, 4:15 pm
MANILA – Megawide Construction Corporation is preparing to start construction for phase 1 of Malolos-Clark Railway (MCR) project in the second quarter of the year. The company believes that the government’s roll-out of major infrastructure projects like the MCRP, the North-South Commuter Rail… Read More
ARTA eyes 500 LGUs to automate biz one-stop shop this year
April 13, 2021, 2:42 pm
MANILA – Anti-Red Tape Authority (ARTA) director general Jeremiah Belgica targets to have at least 500 local government units (LGUs) rolling out the electronic Business One-Stop Shop (e-BOSS) by end-2021. During the virtual signing ceremony of the Joint Memorandum Circular (JMC) 01-2021… Read More
Office space demand rising amid optimism in economic recovery
April 12, 2021, 8:19 pm
MANILA – The Philippine office market continued registering new demand in the first quarter of 2021 and is growing despite the pandemic as more firms are optimistic on a post-coronavirus economic recovery. Mikko Barranda, associate director at Leechiu Property Consultants (LPC), said office… Read More
