Business
APEC advances environmental goods tariff reductions
March 12, 2021, 4:08 pm
JAKARTA – Asia-Pacific Economic Cooperation’s (APEC) green growth target in the region received a boost as Indonesia became the latest APEC member to complete tariff cuts to not over 5 percent for 54 products on the APEC Environmental Goods List. Endorsed by APEC Economic Leaders in 2012, the… Read More
SSS releases P1.71-B unemployment benefits of Covid-hit workers
March 12, 2021, 3:04 pm
MANILA – The Social Security System (SSS) released PHP31.69 billion in calamity loans to 2.12 million member-borrowers, and PHP1.71 billion in unemployment insurance benefits (UIB) to 136,000 claimants last year in support of government efforts to mitigate the economic shock of the coronavirus… Read More
No need to change policy stance amid inflation upticks: Diokno
March 11, 2021, 8:09 pm
MANILA – Demand-side price pressures remain well-anchored despite the acceleration of headline inflation. Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno thus maintains that there is no need to adjust policy rates this time. In a virtual briefing on Thursday, Diokno said the… Read More
Peso up as stocks slip amid rising Covid-19 cases
March 11, 2021, 8:05 pm
MANILA – The Philippine Stock Exchange index (PSEi) reversed its two-day rally on Thursday due to rising coronavirus disease 2019 (Covid-19) cases domestically, but the peso gained against the US dollar. The main equities index declined by 1.31 percent, or 89.14 points, to 6,719.18… Read More
2-month car sales down 7.3%
March 11, 2021, 6:44 pm
MANILA – Vehicle sales from January to February this year declined by 7.3 percent from the same period in 2020, the joint report of the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and the Truck Manufacturers Association (TMA) said Thursday. Combined CAMPI and TMA sales… Read More
CREATE measure, quarantine easing seen to boost FDIs
March 11, 2021, 6:39 pm
MANILA – Foreign direct investments (FDIs) to the Philippines fell in December 2020 but an economist has projected a recovery once the Congress-approved Corporate Recovery and Tax Incentives for Enterprises (CREATE) measure is signed into law. In a report on Thursday, Rizal Commercial Banking… Read More
SG firm withdraws share acquisition in Makati subway deal: PCC
March 11, 2021, 5:53 pm
MANILA – The Philippine Competition Commission (PCC) reported Thursday that Singapore-based Redco Transit Development Pte. Ltd. has terminated the proposed acquisition of shares in Makati City Subway, Inc. from Philippine Infradev Holdings, Inc. and Hong Kong Binjiang Industrial Ltd. “The… Read More
PH exports Davao durian to Aussie market
March 11, 2021, 3:44 pm
MANILA – The Philippines has exported its first frozen durian products from Davao City to Australia, the Department of Trade and Industry (DTI) said Thursday. In a statement, the DTI said the initial shipment arrived at Port of Melbourne on March 2. Davao durian products were imported by Aus… Read More
Smart cited as top network on 4G availability improvement
March 11, 2021, 2:51 pm
MANILA – Telecoms firm Smart has been named as one of the “global rising stars” on 4G availability improvement during the Global Mobile Network Experience Awards 2021 of independent analytics firm Opensignal. Smart’s 4G availability—defined as the proportion of time 4G users spend… Read More
Emperador posts P8-B earnings on strong int’l growth
March 11, 2021, 2:04 pm
MANILA – Emperador Inc., the world’s largest brandy company, saw earnings grow by 18 percent to a record PHP8 billion last year on the back of sustained growth in revenues amounting to PHP52.6 billion. “The resilience of the company shows the strength of our business coupled with the… Read More
SEC sets tougher rules to fight money laundering
March 11, 2021, 1:33 pm
CEBU CITY – The Securities and Exchange Commission (SEC) is instituting new transparency measures as part of its efforts in combating money laundering and terrorist financing. This, as the national government is working to keep the country off the gray list of the Financial Action Task Force… Read More
Negrense products showcased in ASEAN virtual furniture show
March 11, 2021, 12:44 pm
BACOLOD CITY – Products of seven micro, small and medium enterprises (MSMEs) in Negros Occidental are being showcased in the ongoing Association of Southeast Asian Nations (ASEAN) International Furniture and Furnishings Show 2021. The first unified virtual exposition for the Southeast Asian… Read More
DTI chief cites cooperatives’ role in helping small biz
March 10, 2021, 7:49 pm
MANILA – Department of Trade and Industry (DTI) Secretary Ramon Lopez said cooperatives have been a staunch partner of the agency in helping micro and small entrepreneurs grow their businesses. At the 31st anniversary of the Cooperative Development Authority (CDA) Wednesday, Lopez said even… Read More
TDF rates rise despite undersubscription
March 10, 2021, 5:46 pm
MANILA – The rates of the Bangko Sentral ng Pilipinas’ (BSP) term deposit facility (TDF) rose Wednesday. Data released by the central bank showed that the average rate of the seven-day facility increased to 1.6742 percent from last week’s 1.6332 percent. The average rate of the 14-day… Read More
PH to sustain investments in social, economic services programs
March 10, 2021, 5:43 pm
MANILA – A ranking Department of Finance (DOF) official has vowed the government’s continued investments in social and economic services, and programs to bolster the domestic economy’s recovery from the pandemic. In his speech during the National Research Council of the Philippines (NRCP)… Read More
Peso slips as stocks rise on US Treasuries’ selloff
March 10, 2021, 5:40 pm
MANILA – The local stock barometer rose anew Wednesday partly on the selloff of US Treasuries but the peso weakened against the greenback. The Philippine Stock Exchange index (PSEi) gained by 0.61 percent, or 41.49 points, to 6,808.32 points. All Shares gained by 0.08 percent, or 3.40… Read More
Aboitiz to inoculate team members, subcontractors nationwide
March 10, 2021, 2:53 pm
MANILA – The Aboitiz Group has announced it will cover the inoculation of all its team members and subcontractors to help protect them from the coronavirus disease 2019 (Covid-19). AstraZeneca Covid-19 vaccines will be offered to more than 30,000 regular employees and subcontractors, to help… Read More
DBP returns to global bond market, refinances $300-M bonds
March 10, 2021, 2:28 pm
MANILA – The Development Bank of the Philippines (DBP) returned successfully to the international debt capital market this month with the refinancing of its 10-year USD300-million bonds that were priced at even tighter spreads over the United States (US) Treasuries than when these notes were… Read More
Women entreps crucial in PH pandemic recovery: DTI chief
March 9, 2021, 8:16 pm
MANILA – Department of Trade and Industry (DTI) Secretary Ramon Lopez has highlighted the important role of women entrepreneurs especially as the country pushes for post-coronavirus economic recovery. In celebration of International Women’s Day, the DTI paid tribute Monday to women-led… Read More
PCCI, other biz groups vow full support to e-commerce roadmap
March 9, 2021, 8:11 pm
MANILA – The Philippine Chamber of Commerce and Industry (PCCI) and other business organizations have committed to pursue programs that will support and complement the 2022 E-Commerce Roadmap that was launched recently by the Department of Trade and Industry (DTI). “The PCCI, Philippine… Read More
