Business
Peso nearly unchanged as stocks rise on CREATE law
March 29, 2021, 7:47 pm
MANILA – Both the local main stocks gauge and the peso ended on positive notes Monday partly on the signing into law of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act. The Philippine Stock Exchange index (PSEi) gained 0.97 percent, or 63.15 points, to 6,607.78… Read More
Meat products remain at buying capacity: DA
March 29, 2021, 7:31 pm
MANILA – As Executive Order 124, which mandates a price ceiling on meat products, nears its expiration, the Department of Agriculture (DA) on Monday said the retail price, although did not meet the government-set price, remains at the average. As of today, the DA said that per kilogram of pork… Read More
Banks' soured loans seen to fall by 30% due to FIST law
March 29, 2021, 7:29 pm
MANILA – Monetary authorities expect at least 30 percent of the banking system’s non-performing assets (NPAs) will be disbursed through Financial Institutions Strategic Transfer Corporation (FISTC) within the next two years. In a virtual briefing Monday, Bangko Sentral ng Pilipinas (BSP)… Read More
First Philec to launch ‘super green’ transformer this year
March 29, 2021, 6:41 pm
MANILA – First Philec, Inc., the largest manufacturer of high efficiency distribution transformers in Southeast Asia, will be launching this year a transformer model fully made of recyclable and biodegradable materials. First Philec, a unit of First Philippine Holdings Corp., will be… Read More
T-bill rates dip as investors opt for safe haven assets
March 29, 2021, 5:33 pm
MANILA – The rates of the Philippines Treasury bill (T-bills) declined across-the-board Monday despite the strong demand. National Treasurer Rosalia de Leon attributed this to investors’ preference for safe haven assets. The average rate of the 91-day paper went down to 1.269 percent, the… Read More
Details of subsidy for latest ECQ out soon
March 29, 2021, 4:42 pm
MANILA – Details of the proposed emergency assistance for qualified beneficiaries in the National Capital Region (NCR) Plus bubble affected by the weeklong enhanced community quarantine (ECQ) from March 29 to April 4 are expected to be released possibly within the day. During the virtual… Read More
Big-time oil price rollback set this week
March 29, 2021, 4:32 pm
MANILA – Oil companies have announced they will cut fuel prices by more than a peso per liter effective Tuesday. In separate advisories issued on Monday, Caltex, Cleanfuel, Petro Gazz, Phoenix Petroleum, Seaoil, and Total said they will roll back diesel prices by PHP1.30 per liter and PHP1.20… Read More
Don’t panic buy, enough supply of goods amid ECQ: DTI
March 29, 2021, 4:30 pm
MANILA – The Department of Trade and Industry (DTI) has assured the public that there is no need to resort to panic buying as there is enough supply of goods despite Metro Manila and four other provinces are placed under enhanced community quarantine (ECQ). In Laging Handa public briefing… Read More
NEDA welcomes CREATE law
March 29, 2021, 1:31 pm
MANILA – The National Economic and Development Authority (NEDA) thanked President Rodrigo Roa Duterte and the Congress for enacting Republic Act 11534, or the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act, which will provide one of the country’s largest stimulus measures… Read More
EO on 3-year extension of CARS program eyed
March 28, 2021, 6:17 pm
MANILA – The Inter-Agency Committee (IAC) on Automotive Industry Development is working on the issuance of an executive order (EO) to extend the Comprehensive Automotive Resurgence Strategy (CARS) program for three years, a trade official said. In a virtual chat with trade reporters Friday,… Read More
PH still good investment haven despite pandemic: Diokno
March 26, 2021, 7:33 pm
MANILA – The Philippines remains a good investment destination despite the impact of the pandemic due to the economy’s improved fundamentals, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said. In his speech during the virtual 2nd Philippines-Singapore Business and Investment… Read More
PH, Singapore must promote new tech: DOF chief
March 26, 2021, 7:16 pm
MANILA – Finance Secretary Carlos Dominguez III said Friday the Philippines and Singapore should tap each other’s strengths and explore opportunities for cooperation in developing new digital tools and technologies to take advantage of the growth of start-up companies in the… Read More
Peso ends flat; stocks slide anew on record-high Covid cases
March 26, 2021, 6:46 pm
MANILA – Local shares reversed its three-day rally on Friday, partly on new record-high domestic coronavirus disease 2019 (Covid-19) infections but the peso managed to stay firm against the US dollar. The Philippine Stock Exchange index (PSEi) shed 0.55 percent, or 36.37 points, to 6,544.63… Read More
AllHome nets P1-B in 2020 amid pandemic
March 26, 2021, 4:49 pm
MANILA – AllHome Corp., the pioneering one-stop-shop home store in the Philippines, reported Friday a slight decline in net income reaching about PHP1 billion last year from PHP1.05 billion in 2019 amid the challenges of the pandemic. Its profit in the fourth quarter surged by 28 percent to… Read More
Rosy outlook for Cebu’s condo market remains
March 26, 2021, 4:04 pm
CEBU CITY – A homegrown developer here on Friday said the outlook for the condominium market in Metro Cebu has remained strong due to sustained demand. In a virtual press briefing, the publicly listed company, Cebu Landmasters Inc. (CLI), announced a PHP3-billion investment to build a new… Read More
BOC modernization to help in PH economic recovery
March 26, 2021, 3:10 pm
MANILA – Finance Secretary Carlos Dominguez III on Friday highlighted the importance of modernizing customs processes and aligning them with counterparts overseas in supporting economic recovery. In his speech during the virtual launch of the World Bank-financed Philippine Customs… Read More
Investments continue amid pandemic: Palace
March 26, 2021, 2:23 pm
MANILA – With the economy remaining open amid the pandemic, the Palace believes this has helped improve investments in the country, with employment rates actually faring better than the same period last year. “Dahil bukas ang ating ekonomiya, patuloy ang pamumuhunan or investments bagaman… Read More
Struggling banana industry seeks lower fees, fewer restrictions
March 25, 2021, 8:11 pm
MANILA – The Pilipino Banana Growers and Entrepreneurs Association (PBGEA) is calling for fewer government fees and more supportive ordinances to pump up the troubled industry. PBGEA executive director Stephen Antig told the Philippine News Agency (PNA) in an interview on Thursday that it would… Read More
BSP seen to keep key rates to support economic recovery
March 25, 2021, 7:42 pm
MANILA – Economists have forecast Philippine monetary authorities to continue keeping key rates at their record-low amid spikes in the domestic inflation rate, citing the need for measures to address economic vulnerability from the pandemic. On Thursday, the Bangko Sentral ng Pilipinas’ (BSP)… Read More
Banks yet to fully slash lending rates amid BSP rate cuts
March 25, 2021, 7:17 pm
MANILA – Philippine banks have not fully reduced their lending rates at the level of cuts in the Bangko Sentral ng Pilipinas’ (BSP) key policy rates. In a briefing Thursday, BSP Deputy Governor Francisco Dakila Jr. said the average bank lending rate has been slashed by 161 basis points… Read More
