Business
Hike in ATM deployment seen amid acquirer-based fee charging
April 8, 2021, 6:01 pm
MANILA – Monetary authorities are optimistic that banks will be encouraged to deploy more automated teller machines (ATMs) after the latter were allowed some leeway on fees instead of just having a fixed share on the fees. Under the acquirer-based fee charging (ABFC), which took effect on… Read More
DOE, Japanese firm to study hydrogen as future energy source
April 8, 2021, 5:31 pm
MANILA – The Department of Energy (DOE) said Thursday it signed a memorandum of understanding with Tokyo-based Hydrogen Technology Inc. (HTI) to explore the potential of hydrogen as an energy source for the Philippines in the future. DOE Secretary Alfonso Cusi and HTI president and chief… Read More
Landbank, DBP get largest capital infusion under Duterte admin
April 8, 2021, 3:51 pm
MANILA – The administration of President Rodrigo Duterte has infused a combined PHP53.3 billion in cash into the Land Bank of the Philippines (Landbank) and the Development Bank of the Philippines (DBP) -- the country’s two main government financial institutions (GFIs) -- over a five-year… Read More
Indoor restaurants may remain closed: DTI chief
April 8, 2021, 3:47 pm
MANILA – The Inter-Agency Task Force for the Management of Emerging Infectious Diseases (IATF) might be sensitive in reopening indoor economic activities, including indoor dine-in services, due to new variants of the coronavirus disease 2019 (Covid-19) in the country, Department of Trade and… Read More
SB Corp. OKs P3.4-B zero-interest loans to MSMEs
April 8, 2021, 2:24 pm
MANILA – The Small Business (SB) Corp. has approved a total of PHP3.38 billion in loans to micro, small and medium enterprises (MSMEs) under the Covid-19 Assistance to Restart Enterprises (CARES) program, Trade Secretary Ramon Lopez said Thursday. In a television interview, Lopez said the… Read More
DOF chief calls for meeting of review board under CREATE law
April 7, 2021, 7:38 pm
MANILA – Finance Secretary Carlos Dominguez III wants the newly reconstituted Fiscal Incentives Review Board (FIRB) to meet at the earliest possible time to discuss the body’s expanded functions under the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act once this law takes… Read More
BSP term deposit facility rates drop
April 7, 2021, 6:43 pm
MANILA – The rates of Bangko Sentral ng Pilipinas’ (BSP) term deposit facility (TDF) declined Wednesday as demand remained strong. The average rate of the seven-day facility went down to 1.7842 percent and the 14-day’s to 1.8431 percent. These were at 1.8280 percent for the seven-day… Read More
Peso flat as stocks rise on sustained bargain hunting
April 7, 2021, 6:01 pm
MANILA – The Philippine Stock Exchange index (PSEi) rose anew Wednesday on sustained bargain hunting while the peso was little changed against the greenback. The main stocks gauge increased by 0.94 percent, or 61.60 points, to 6,651.71 points. All Shares registered a higher jump of 1.05… Read More
Vegetable prices drop 50%, goods stable
April 7, 2021, 4:59 pm
MANILA – Prices of vegetables have dropped significantly while prices of non-agricultural products remain stable, chiefs of the Department of Agriculture (DA) and the Department of Trade and Industry (DTI) said. “Our (vegetable) prices are significantly lower at an average of 50 percent, much… Read More
SRP on imported pork effective April 9
April 7, 2021, 3:49 pm
MANILA – As the price ceiling on pork and chicken will end Thursday, Department of Agriculture (DA) Secretary William Dar said a suggested retail price (SRP) on imported pork will take effect on April 9. In a virtual press briefing Wednesday, Dar said this measure is part of the government’s… Read More
Macro support to reduce scarring effects of pandemic: IMF exec
April 7, 2021, 3:37 pm
MANILA – An International Monetary Fund (IMF) executive has underscored the importance of strengthening coronavirus disease 2019 (Covid-19) containment measures in the Philippines and ensuring macroeconomic support to address the pandemic’s impact on the economy. This, after the multilateral… Read More
CLI sets P12-B capex for 2021, eyes return to growth trajectory
April 7, 2021, 3:31 pm
CEBU CITY – Cebu Landmasters Inc. (CLI) is earmarking PHP12 billion in capital expenditure this year to expand its landbank and complete ongoing projects across the Visayas and Mindanao (VisMin) regions. During the company’s investors’ briefing on Wednesday, chief operating officer Jose… Read More
2021 ECQ to hit GDP target: Dominguez
April 6, 2021, 8:46 pm
MANILA – The latest surge in coronavirus disease (Covid-19) infections is expected to result to below-target growth for the Philippine economy this year, Finance Secretary Carlos G. Dominguez III. “Well, I think it’s going to be lower than what we expected. This surge in the contagion, which… Read More
Jollibee further expands in Europe with 8 more stores
April 6, 2021, 6:48 pm
MANILA – With 70 percent of its customers in its latest UK stores now being locals, homegrown restaurant brand Jollibee is further expanding its reach to local European customers by growing to 50 stores in that continent in the next five years. This year, the restaurant chain will open its… Read More
Stocks near 6,600-level; peso stays firm vs. greenback
April 6, 2021, 6:38 pm
MANILA – The local main equities index gained anew Tuesday partly due to the deceleration of domestic inflation rate last month while the peso remained firm against the greenback. The Philippine Stock Exchange index (PSEi) rose 1.46 percent, or 94.96 points, to 6,590.11 points. All Shares… Read More
Landbank clients urged to tap digital channels
April 6, 2021, 6:11 pm
MANILA – Land Bank of the Philippines (Landbank) president and chief executive officer (CEO) Cecilia Borromeo on Tuesday encouraged the bank’s account holders to access its digital and online platforms for their safety. In a message posted on the bank’s Facebook page, Borromeo said tapping… Read More
BPO remains pillar of PH real estate sector: APREA
April 6, 2021, 5:54 pm
MANILA – The Asia Pacific Real Estate Association (APREA) sees the business process outsourcing (BPO) industry continue supporting real estate businesses in the Philippines, its chief executive officer Sigrid Zialcita said. “(The) BPO sector will remain a pillar of the real estate sector.… Read More
Gov’t ensures supply, price stability of goods in ECQ: NEDA
April 6, 2021, 5:50 pm
MANILA – The government is committed to stabilizing prices by augmenting the food supply and ensuring that the supply chains of goods, especially food, will be unhampered during the enhanced community quarantine (ECQ) period, the National Economic and Development Authority (NEDA) said. The… Read More
Steady BSP key rates seen sans second round effects
April 6, 2021, 5:13 pm
MANILA – Economists continue to see unchanged policy stance from the Bangko Sentral ng Pilipinas (BSP) this year unless second-round effects from the elevated inflation rate come out. After a five-month rise, the domestic inflation rate eased to 4.5 percent last March from the two-year high… Read More
5-year T-bond fetches 3.375% coupon rate
April 6, 2021, 5:08 pm
MANILA – The country’s freshly-issued five-year treasury bond (T-bond) fetched a coupon rate of 3.375 percent during an auction Tuesday. The Bureau of the Treasury (BTr) offered the debt paper for PHP35 billion and tenders amounted to PHP80.7 billion. The auction committee made a full… Read More
