Business
BSP hikes average inflation projections for 2021-2022
March 25, 2021, 7:00 pm
MANILA – The average inflation for this year is now projected to exceed the government’s 2-4 percent target band due to supply-side pressures while the 2022 forecast was hiked on expected recovery of the global economy. In a briefing via the Bangko Sentral ng Pilipinas’ (BSP) Facebook page… Read More
DOST to open AMCen to public in April
March 25, 2021, 6:40 pm
MANILA – The Department of Science and Technology (DOST) will officially open the Advanced Manufacturing Center (AMCen) to the public in April, Secretary Fortunato de la Peña said on Thursday. Located at the DOST's compound in Bicutan, Taguig City, AMCen houses cutting-edge 3D printing… Read More
BSP keeps key rates anew on inflation rate, oil price upticks
March 25, 2021, 6:08 pm
MANILA – Philippine monetary officials on Thursday kept the Bangko Sentral ng Pilipinas’ (BSP) key policy rates, citing the risks from elevated inflation rate due to supply-side factors and hikes in the international oil prices. BSP’s key rates were reduced by a total of 200 basis points in… Read More
AREIT identifies P15-B properties for share swap with ALI
March 25, 2021, 6:05 pm
MANILA – AREIT, Inc. (AREIT), the first real estate investment trust (REIT) in the country, has identified 10 properties included in its PHP15 billion property-for-share swap transaction with its sponsor, Ayala Land, Inc. (ALI). In a disclosure to the Philippine Stock Exchange (PSE) Thursday,… Read More
Stocks surge on buying spree; peso trades sideways
March 25, 2021, 6:02 pm
MANILA – The main equities index rose Thursday on continued buying spree among investors following the sell-off last week while the peso kept its sideways close against the US dollar. The Philippine Stock Exchange index (PSEi) increased by 1.29 percent, or 83.99 points, to 6,581.00 points. All… Read More
Gov’t to distribute 47M face masks to poor communities
March 25, 2021, 5:59 pm
MANILA – The government is targeting to distribute over 47 million pieces of free face masks under its “Mask para sa Masa” project, Department of Trade and Industry (DTI) Secretary Ramon Lopez said. In his report to President Rodrigo Duterte Wednesday, Lopez said 12.6 million cloth face… Read More
PLDT, Smart assure customers of continued services in 'NCR Plus'
March 25, 2021, 5:08 pm
MANILA – Both home and mobile users of PLDT and its wireless unit Smart Communications Inc. (PLDT-Smart) in areas under a general community quarantine (GCQ) bubble are assured that the telecommunications services of both companies will continue despite new restrictions. In a statement on… Read More
PH in talks with 6 firms for local vax production
March 25, 2021, 3:21 pm
MANILA – Department of Trade and Industry (DTI) Secretary Ramon Lopez said its investments promotion agency is in discussion with six companies for the local production of vaccines. “The Board of Investments (BOI) is talking to about six local companies on their plans for local vaccine… Read More
DBP breaches trillion-peso asset mark; loans rise 19%
March 25, 2021, 12:37 pm
MANILA – State-owned Development Bank of the Philippines (DBP) joined the elite ranks of trillion-peso banks in the country, as its total assets reached PHP1.04 trillion at end-2020, up by a whopping 37 percent from the PHP761.24 billion recorded the previous year, a top official said. In a… Read More
PH agri trade down by -6.8% in Q4: PSA
March 24, 2021, 7:18 pm
MANILA – The Philippine Statistics Authority (PSA) said Wednesday the country's total agricultural trade in the fourth quarter of 2020, worth USD4.66 billion, went down at an annual rate of -6.8 percent. "This was faster than the previous quarter’s annual decrease of -3.3 percent and the… Read More
Term deposit rates rise anew
March 24, 2021, 7:12 pm
MANILA – Rates of the Bangko Sentral ng Pilipinas’ (BSP) term deposit facility (TDF) rose further Wednesday, still on investors’ demand for yields amid the elevated inflation rate. Data released by the central bank showed that the average rate of the seven-day facility increased to 1.8432… Read More
Northbound Skyway Extension now structurally complete
March 24, 2021, 6:25 pm
MANILA – San Miguel Corporation (SMC) is set to fulfill its commitment to the public of providing a long-term solution to years of worsening traffic on the South Luzon Expressway (SLEX) approaching Alabang, Muntinlupa, brought about by rapid growth in Southern Luzon. SMC president Ramon S.… Read More
Peso nearly flat as shares rise anew on easing Covid-19 cases
March 24, 2021, 6:20 pm
MANILA – Local shares rose anew Wednesday on continued bargain hunting and the peso remained on sideways close against the greenback. The Philippine Stock Exchange index (PSEi) increased by 0.79 percent, or 50.66 points, to 6,497.01 points. All Shares jumped by 0.55 percent, or 21.61… Read More
BSP keeps accommodative monetary policy stance
March 24, 2021, 6:17 pm
MANILA – Bangko Sentral ng Pilipinas’ (BSP) Governor Benjamin Diokno said on Wednesday talks about exit strategy for the central bank’s accommodative stance remain “too early” at this time as these depend primarily on domestic growth and inflation. “We share the view that 2021, or… Read More
Digital fraud attempts in PH rise amid pandemic
March 24, 2021, 6:09 pm
MANILA – Increasing digital fraud attempts against businesses and consumers in the Philippines was observed during the coronavirus disease 2019 (Covid-19) pandemic, according to the Global Consumer Pulse study of global information and insights company TransUnion. The study was based on… Read More
PCC urged to probe anti-competitive behavior in pork industry
March 24, 2021, 4:28 pm
MANILA – A lawmaker at the House of Representatives on Wednesday called on the Philippine Competition Commission to take action and investigate possible anti-competitive behavior in the pork industry. Marikina City Rep. Stella Quimbo said the increasing pork prices is not only a result of local… Read More
Century Pacific nets P3.9-B in 2020; enters refrigerated food
March 24, 2021, 3:50 pm
MANILA – Century Pacific Food, Inc. (CNPF), one of the country’s leading branded food companies, booked a 24-percent increase in net income to PHP3.9 billion last year even amid the pandemic. Its consolidated revenues also grew by 19 percent to PHP48.3 billion in 2020, driven primarily by… Read More
European firms invest over P23-B in PH in 2020
March 24, 2021, 2:40 pm
MANILA – European companies have invested EUR406.5 million (around PHP23.43 billion) in the Philippines last year, Department of Trade and Industry (DTI) Secretary Ramon Lopez said on Tuesday. In a virtual investment roadshow for European businesses, Lopez said top investments from Europe that… Read More
REIT listings underscore strong investor confidence in PH rebound
March 24, 2021, 1:31 pm
MANILA – The reforms initiated by the Duterte administration to fix the flawed regulatory framework under the over decade-old Real Estate Investment Trust (REIT) Act has cleared the way for this “powerful financial mechanism” to broaden access to investments and become an indispensable tool… Read More
SMC gives livelihood aid to ex-settlers at Bulacan airport site
March 23, 2021, 7:43 pm
MANILA – Over a hundred former Taliptip coastal residents are eyeing to become micro-entrepreneurs under a program by San Miguel Corporation (SMC) that will provide them training and capital to become the company’s business partners, as community resellers of the food and beverage giant’s… Read More
