Business
Public warned of increasing financial cybercrimes amid pandemic
March 17, 2021, 7:19 pm
MANILA – The general public should practice heightened vigilance against cybercriminals as reported online scams in the Philippines continue to go up, an official of the trade association of key players in the financial technology industry in the country said on Wednesday. “While opportunities… Read More
Landbank keen on hiking fund for SWINE loan program
March 17, 2021, 6:52 pm
MANILA – State-owned Landbank of the Philippines (Landbank) has allocated PHP15 billion for lending to hog raisers to help address supply issues partly caused by the African swine fever, but the funds may be increased once needs arise. In a briefing after the memorandum of agreement (MOA)… Read More
Allow private sector to directly buy vaccines, PCCI tells gov’t
March 17, 2021, 6:47 pm
MANILA – The Philippine Chamber of Commerce and Industry (PCCI) has asked the national government to allow the private sector to directly procure coronavirus disease 2019 (Covid-19) vaccines from accredited sources. PCCI made the statement Wednesday in its intent to help the government to speed… Read More
More businesses open this year: DTI survey
March 17, 2021, 6:43 pm
MANILA – Department of Trade and Industry (DTI) Secretary Ramon Lopez said more businesses have restarted their operations since the government implemented a gradual reopening of economic activities. Speaking at the Association of Filipino Franchise Inc. (AFFI) online event on Wednesday, Lopez… Read More
Cebu Pacific cancels Japan flights March 18-April 18
March 17, 2021, 5:55 pm
MANILA – Budget carrier Cebu Pacific has canceled flights between Manila and Japan from Thursday until April 18, in compliance with the allowed inbound international passengers limit at the Ninoy Aquino International Airport (NAIA) set at 1,500 for the said period. Flights between Manila and… Read More
Stocks rise anew; peso sustains sideways movement vs. dollar
March 17, 2021, 5:14 pm
MANILA – The Philippine Stock Exchange index (PSEi) gained for the second consecutive day Wednesday and this helped buoy the local currency. The main equities gauge rose by 0.12 percent, or 7.75 points, to 6,566.83 points. All Shares increased by 0.27 percent, or 10.63 points, to 3,964.78… Read More
TDF rates rise as investors look for higher yields
March 17, 2021, 5:10 pm
MANILA – The rate of the Bangko Sentral ng Pilipinas’ (BSP) term deposit facility (TDF) rose Wednesday as investors continued to look for higher yields. Data released by the central bank showed that the average rate of the seven-day facility increased to 1.8049 percent and of the 14-day… Read More
Bike exporter to set up plant in Bulacan
March 17, 2021, 5:06 pm
MANILA – TRINX Bicycle Sport Technology Corp. (TBSTC), a joint venture of Filipino and Chinese companies, will be putting up a bicycle manufacturing plant in Sta. Maria, Bulacan. The Board of Investments (BOI) has approved TBSTC’s PHP356-million bike manufacturing facility under the export… Read More
Further reforms to let PH build back better post-Covid: DOF chief
March 17, 2021, 1:16 pm
MANILA – Department of Finance (DOF) Secretary Carlos Dominguez III said Wednesday the Duterte administration’s steadfast resolve to undertake further reforms to rebuild a strong and inclusive economy --and set the stage for a “sustainable, greener and healthier future” for the Filipino… Read More
Globe's 4G LTE network now fully up in Cavite
March 16, 2021, 7:22 pm
MANILA – Cavite has been added to the growing list of provinces where Globe customers are expected to experience major improvements in their call, SMS, and data browsing due to the company’s sustained network builds and modernization. Globe has expanded its LTE capacity with network migration… Read More
Inflation seen elevating in H1 2021
March 16, 2021, 7:19 pm
MANILA – The inflation rate is expected to remain elevated in the first half of the year, breaching the 5-percent level as early as this month, BDO Unibank Inc. first vice president and chief strategist Jonathan Ravelas said. In an online forum of the Italian Chamber of Commerce in the… Read More
Increased mobile financial transactions benefit gov't investors
March 16, 2021, 7:15 pm
MANILA – Increased utilization of digital processes due to the pandemic helped more Filipinos contribute more to the government’s recovery program, National Treasurer Rosalia de Leon said on Tuesday. In her speech during the first quarterly raffle for the year of Premyo Bonds 2, de Leon said… Read More
Peso ends sideways; stocks recover amid deal for vax purchase
March 16, 2021, 6:02 pm
MANILA – The local main equities index managed to rise Tuesday partly on news that the government secured a deal for Novavax vaccines from India and this optimism also benefited the peso. The Philippine Stock Exchange index (PSEi) increased by 0.10 percent, or 6.62 points, to 6,559.08… Read More
PH thanks multilateral dev’t partners for add’l vaccine loans
March 16, 2021, 5:55 pm
MANILA – Finance Secretary Carlos Dominguez III has thanked the Philippines’ multilateral partner-institutions for extending a total of USD1.2 billion in fresh loans to the government to help fund the country’s coronavirus disease 2019 (Covid-19) vaccination program and its other pandemic… Read More
BDO sees GDP at 6% this year amid pandemic
March 16, 2021, 5:51 pm
MANILA – Banco de Oro (BDO) has revised slightly downward its economic growth forecast for this year amid the risk of rising coronavirus disease 2019 (Covid-19) cases. BDO Unibank Inc. first vice president and chief strategist Jonathan Ravelas said Tuesday it is looking at a gross domestic… Read More
D&L eyes up to P5-B via maiden bond offering
March 16, 2021, 4:57 pm
MANILA – D&L Industries, a listed manufacturer of specialty food ingredients, plastics, and oleochemicals, is planning to raise PHP3 billion to PHP5 billion through the issuance of bonds this year. In a statement Tuesday, the company said it secured approval from its board of directors for a… Read More
Aboitiz Group hikes capex to P48-B in 2021
March 16, 2021, 4:24 pm
MANILA – Aboitiz Equity Ventures, Inc., together with its partners, has allotted PHP48 billion in capital expenditure (capex) for this year, 69 percent higher than the PHP29 billion spent in 2020, a year that saw unprecedented challenges due to the coronavirus disease 2019 (Covid-19). The… Read More
DTI chief urges exporters to raise trade with RCEP countries
March 16, 2021, 4:20 pm
MANILA – Department of Trade and Industry (DTI) Secretary Ramon Lopez has urged Philippine-based exporters to further explore opportunities in 15 participating countries of the Regional Comprehensive Economic Partnership (RCEP). In a statement Tuesday, Lopez encouraged them to utilize the free… Read More
DOF backs corporate pension reforms to develop PH capital markets
March 15, 2021, 8:01 pm
MANILA – The Department of Finance (DOF) has expressed its full support for the congressional proposal to further deepen the domestic capital markets by building a sustainable corporate pension system while making available massive volumes of capital in the financial sector to help accelerate… Read More
SEC online submission tool goes live
March 15, 2021, 7:56 pm
MANILA – The Securities and Exchange Commission (SEC) has launched its online submission tool (OST) for annual financial statements (AFS), general information sheet (GIS), and other annual reports. Starting Monday, corporations and their authorized filers may already enroll in the SEC-OST and… Read More
