Business
Peso flat as PSEi dips on rising Covid cases, new curfew hours
March 15, 2021, 6:59 pm
MANILA – Rising domestic cases of coronavirus disease 2019 (Covid-19) and implementation of unified curfew hours in Metro Manila partly resulted in the negative close of the local main equities index Monday but the peso ended sideways. The Philippine Stock Exchange index (PSEi) slipped by… Read More
Covid-19 vaccine rollout seen to benefit PH remittances
March 15, 2021, 6:33 pm
MANILA – An economist forecasts the contraction in remittance inflows to the Philippines to continue in the early part of this year before improving amid the rollout of coronavirus disease (Covid-19) vaccination programs worldwide. The Bangko Sentral ng Pilipinas (BSP) on Monday reported a… Read More
Asia, ME’s leading workspace provider forays into PH market
March 15, 2021, 6:30 pm
MANILA – The Executive Centre (TEC), the leading premium flexible workspace provider in the Asia Pacific and Middle East, forays into the Philippines market with the opening of its flagship center in the highly sought-after Ayala Triangle Gardens Tower 2 in Makati Central Business… Read More
DOST provides P5-M loan to surgical mask startup
March 15, 2021, 6:14 pm
MANILA – The Department of Science and Technology - Region 1 (DOST-1) has provided PHP5 million assistance to a firm that ventured into surgical mask production, Secretary Fortunato de la Peña reported. ModulHaus Incorporated of Agoo, La Union, sought the DOST's Small Enterprises Technology… Read More
T-bill rates sustain rise
March 15, 2021, 5:27 pm
MANILA – The treasury bill (T-bill) rates rose anew Monday partly due to expectations of the peak of domestic inflation rate in the second quarter of this year. The average of the 91-day paper rose to 1.232 percent, the 182-day to 1.527 percent, and the 364-day to 1.990 percent. These were… Read More
C. Luzon biz owners urged to keep workplaces safe from virus
March 15, 2021, 5:08 pm
CITY OF SAN FERNANDO, Pampanga – The Department of Trade and Industry in Region 3 (DTI-3) or Central Luzon is reminding owners of business establishments to keep their workplaces safe from the coronavirus disease 2019 (Covid-19). DTI-3 officer-in-charge Leonila T. Baluyut said in a statement on… Read More
Ayala energy arm secures funding for solar project in India
March 15, 2021, 4:42 pm
MANILA – AC Energy and Infrastructure Corp., a wholly-owned unit of Ayala Corp., said it secured funding for its USD67-million Sitara solar farm in Rajasthan, India. In a disclosure with the Philippine Stock Exchange Monday, AC Energy said the United States International Development Finance… Read More
Oil prices to go up anew this week
March 15, 2021, 4:38 pm
MANILA – After a rollback last week, oil prices will increase effective Tuesday. Caltex, Cleanfuel, Petro Gazz, PTT Philippines, Seaoil, and Shell announced they would raise gasoline prices by PHP1.25 per liter and PHP0.90 per liter on diesel products. Caltex, Seaoil, and Shell will also… Read More
Megawide boosts infra project pipeline, ancillary businesses
March 15, 2021, 4:27 pm
MANILA – Megawide Construction Corp. boosts funding for its organic projects as it reallocates the use of proceeds (UOP) from its PHP4.4 billion issuance of Series 2 preferred shares last year. In a disclosure to the Philippine Stock Exchange, the company said the PHP1.2-billion initial… Read More
SteelAsia to resume construction of Lemery plant
March 15, 2021, 8:56 am
MANILA – The construction of SteelAsia Manufacturing Corp.'s Lemery plant in Batangas will resume after it was suspended due to the Covid-19 lockdown. “The Lemery Works steel plant is of national significance as it will reduce our reliance on imports for important steel products needed for the… Read More
Forest products defy fall in export receipts
March 14, 2021, 3:15 pm
MANILA – Philippine forest products collectively registered double-digit growth in January 2021 free-on-board export receipts, outshining all other major types of goods shipped from the country. Forest products' total January receipts grew 12.1 percent to USD31.35 million this year from almost… Read More
Aboitiz InfraCapital allots P2.5-B for common towers
March 12, 2021, 8:04 pm
MANILA – Aboitiz InfraCapital (Aboitiz), the infrastructure arm of the Aboitiz Group, is planning to spend about PHP2.5 billion for its common towers initiative, bringing its total capital expenditures (capex) with its partners to PHP13 billion for 2021. In a statement on Friday, Aboitiz said… Read More
Volkswagen PH targets 4 new model launches this year
March 12, 2021, 7:57 pm
MANILA – German carmaker Volkswagen targets to launch up to four new vehicle models in the Philippines this year even amid the pandemic. In a virtual media roundtable Friday, Volkswagen Philippines president Felipe Estrella said T-Cross will be the next model that the company will introduce in… Read More
ADB OKs $400-M loan to help PH purchase Covid vax
March 12, 2021, 7:51 pm
MANILA – The Asian Development Bank (ADB) has approved a USD400-million loan that will help the Philippines purchase a safe and effective vaccine against the coronavirus disease 2019 (Covid-19). In a virtual press briefing Friday, ADB principal social sector specialist for Southeast Asia Sakiko… Read More
Stocks index recovers; peso ends sideways vs. US dollar
March 12, 2021, 5:50 pm
MANILA – The local main equities index recovered on Friday amid investors’ decision to stay on the sidelines partly on rising domestic coronavirus disease 2019 (Covid-19) infections but the peso managed to end sideways against the greenback. The Philippine Stock Exchange index (PSEi) gained… Read More
BSP 28-day securities rate up despite undersubscription
March 12, 2021, 5:47 pm
MANILA – The rate of the Bangko Sentral ng Pilipinas’ (BSP) 28-day securities rose Friday as investors continued to look for yields given the elevated inflation rate. Data released by the central bank showed that the average rate of the debt paper increased to 1.9444 percent from 1.8000… Read More
Economist sees new record-highs for PH foreign reserves
March 12, 2021, 5:44 pm
MANILA – The country’s foreign reserves are expected to further improve in the coming months as the economy reopens and structural sources of US dollar such as remittances and business process outsourcing (BPO) continue to show resilience. On Thursday, the Bangko Sentral ng Pilipinas (BSP)… Read More
SEC-Cebu to start accepting company annual reports online
March 12, 2021, 4:57 pm
CEBU CITY – To make life easier for clients in light of the coronavirus disease 2019 (Covid-19) pandemic, the Securities and Exchange Commission (SEC) in Cebu will start accepting online submission of annual reports on Monday. Dubbed as the online submission tool (OST), the SEC will now allow… Read More
PCCI lauds EO liberalizing access to satellite services
March 12, 2021, 4:54 pm
MANILA – The Philippine Chamber of Commerce and Industry (PCCI), the country’s largest business organization, has welcomed the signing of Executive Order (EO) 127 liberalizing access to satellite services. In a statement Friday, the PCCI said new policy guidelines on the operation and use of… Read More
Cebu business month celebration to remain virtual in 2021
March 12, 2021, 4:12 pm
CEBU CITY – To prevent coronavirus disease 2019 (Covid-2019) transmission, the business community in Cebu has decided to forego activities related to the annual Cebu Business Month (CBM) which may result to overcrowding. The Cebu Chamber of Commerce and Industry (CCCI) on Friday said in a… Read More
