Business
Natural gas: PH’s fuel of future
March 23, 2021, 7:06 pm
MANILA – Natural gas will play a vital role in the country’s energy mix and in the government’s goal to achieve energy independence, the Department of Energy (DOE) said on Tuesday. At the virtual 2nd LNG and Clean Energy Investment Summit, DOE Assistant Secretary Leonido Pulido III urged… Read More
Peso nearly flat as stocks index recovers on bargain hunting
March 23, 2021, 5:50 pm
MANILA – The local stock barometer rose Tuesday due to bargain hunting while the peso kept its footing against the greenback. After a two-day slide, the Philippine Stock Exchange index (PSEi) recovered and increased by 0.80 percent, or 51.18 points, to 6,446.35 points. All Shares followed… Read More
PCCI calls on consumers to buy PH-made products
March 23, 2021, 5:45 pm
MANILA – The Philippine Chamber of Commerce and Industry (PCCI), country’s largest business organization, has called on Filipino consumers to patronize locally-made products to help businesses thrive amid the pandemic. “We are still reeling from a crisis that is unparalleled in recent… Read More
PAL cancels 44 more int'l flights, several domestic flights
March 23, 2021, 4:36 pm
MANILA – Flag carrier Philippine Airlines announced on Tuesday the cancellation of additional 44 international flights scheduled March 23-26 and March 31, due to the arrival restrictions at the Ninoy Aquino International Airport (NAIA) now capped at 1,500 international passengers daily. PAL… Read More
ADB study calls for skills training reform in PH
March 23, 2021, 4:02 pm
MANILA – The Philippines should reform its technical and vocational education and training (TVET) system to meet fast-changing industry needs, a new Asian Development Bank (ADB) study recommends. The study, Technical and Vocational Education and Training in the Philippines in the Age of… Read More
Tighter watch on illicit cigarette makers in ecozones pushed
March 23, 2021, 1:25 pm
MANILA – The government will soon require cigarette manufacturers planning to set up shop in the country’s special economic zones (SEZs) to register with the Bureau of Internal Revenue (BIR) before they can be allowed to operate, in line with the Duterte administration’s sustained drive… Read More
PH's Covid-19 jab program budget sufficient: Dominguez
March 23, 2021, 1:07 pm
MANILA – The national government’s PHP82.5-billion budget for coronavirus disease 2019 (Covid-19) vaccination program and allocations by the local governments and the private sector are enough to inoculate around 70 adult Filipinos this year. This was stressed by Finance Secretary Carlos… Read More
Infra spending to revitalize economy amid pandemic
March 22, 2021, 7:52 pm
MANILA – Increased government infrastructure spending is more needed now after the implementation of stricter quarantine measures in the National Capital Region (NCR) and four nearby provinces from March 22 to April 4, 2021. The government, through the recommendation of the Inter-Agency Task… Read More
Banks implement shortened operating hours for 2 weeks
March 22, 2021, 7:49 pm
MANILA – Several banks implemented shortened operating hours starting Monday until April 4 after the government reimposed stricter quarantine measures in the National Capital Region (NCR) and four nearby provinces. The Philippine Savings Bank (PSBank) said its branches in Metro Manila,… Read More
Jan-Feb sales of imported cars down by 10%
March 22, 2021, 7:13 pm
MANILA – Imported vehicle sales for the first two months of the year declined by 10 percent compared to the same period a year ago, the Association of Vehicle Importers and Distributors (AVID) reported Monday. AVID sales in January to February this year reached 10,663 units from 11,890 units… Read More
Fitch Solutions revises peso forecast to P48.40
March 22, 2021, 7:08 pm
MANILA – Fitch Solutions has revised its 2021 outlook for the peso given the local currency’s recent weakness, primarily traced to the rise in US treasuries and global oil prices. In a report, the unit of Fitch Group now sees the peso averaging at PHP48.40 against the greenback from its… Read More
T-bill rates up anew as inflation remains elevated
March 22, 2021, 7:05 pm
MANILA – The treasury bill (T-bill) rates rose anew Monday as investors continued to factor in the elevated domestic inflation rate. The average rate of the 91-day paper rose to 1.336 percent, the 182-day to 1.718 percent, and the 364-day to 1.997 percent. These were at 1.232 percent, 1.527… Read More
Peso nearly unchanged as stocks dip on rising Covid-19 cases
March 22, 2021, 5:37 pm
MANILA – The rise in domestic coronavirus disease 2019 (Covid-19) cases continued to dampen investors’ sentiment resulting in the negative close of the Philippine Stock Exchange index (PSEi) Monday, but the peso managed to remain afloat. The main equities index shed 0.64 percent, or 40.93… Read More
Price cut on diesel, kerosene set this week
March 22, 2021, 5:34 pm
MANILA – Oil companies will implement a rollback on prices of diesel and kerosene effective Tuesday. In separate advisories, Caltex, Cleanfuel, Petro Gazz, Seaoil, Shell, and Unioil announced they will cut prices of diesel by PHP0.35 per liter. Caltex, Seaoil, and Shell will also slash… Read More
NEDA supports localized quarantine measures
March 22, 2021, 5:29 pm
MANILA – The National Economic and Development Authority (NEDA) supports the localized quarantine measures in areas showing high transmission rates as directed by Resolution No. 104 of the Inter-Agency Task Force (IATF) on the Management of Emerging Infectious Diseases. “We recognize the… Read More
‘Secret parties’ possible cause of Covid-19 surge: DTI chief
March 22, 2021, 4:09 pm
MANILA – Trade Secretary Ramon Lopez has rebutted the claims that the reopening of economic activities led to a surge in coronavirus disease 2019 (Covid-19) cases, but “secret parties” or private meetups might be a possible cause of the rising number of infection. In a radio interview… Read More
Moody's Analytics sees unchanged key rates for BSP
March 22, 2021, 3:24 pm
MANILA – Moody’s Analytics forecasts a steady policy rate for the Bangko Sentral ng Pilipinas (BSP) on Thursday, citing the limited aid any rate adjustment will have on the economy right now. BSP’s policy-making Monetary Board (MB) slashed the central bank’s key rates by a total of 200… Read More
Gov’t banks urged to continue providing loans to MSMEs
March 22, 2021, 3:19 pm
MANILA – Government banks are encouraged to continue providing loans to micro, small and medium enterprises (MSMEs) to keep their businesses afloat as the Inter-Agency Task Force for the Management of Emerging Infectious Diseases (IATF) expanded quarantine protocols. During the online Tapatan… Read More
ADB secures $300M to fund Southeast Asia’s green recovery program
March 22, 2021, 2:03 pm
MANILA – The Green Climate Fund (GCF) has allocated USD300 million to support the Asian Development Bank's (ADB) efforts to help Southeast Asia shape a climate-resilient, environmentally sustainable economic recovery from the coronavirus disease 2019 (Covid-19) pandemic. The Association of… Read More
Flight options offered to travelers affected by GCQ
March 22, 2021, 8:42 am
MANILA – Air travelers affected by the new quarantine restrictions may avail of several options for their upcoming flights. Budget carrier Cebu Pacific (CEB) said on Sunday night that its flights would continue to operate as scheduled until March 24. In an advisory, CEB said those who would opt… Read More
