Business
Rice import tariff collections post 58% hike
March 5, 2021, 7:52 pm
MANILA – The Bureau of Customs (BOC) has reported collections amounting to PHP2.04 billion in tariffs from rice imports in January, representing a 58-percent increase over the PHP1.29 billion collected during the same period last year amid a further improvement in the bureau's import valuation… Read More
Peso, stocks flat as inflation accelerates
March 5, 2021, 7:20 pm
MANILA – The Philippine Stock Exchange index (PSEI) ended the week flat while the peso finished sideways against the US dollar due mainly to the within-expected inflation print for February 2021. The main equities index ended the trade down by 0.02 percent, or 1.12 points, to 6,881.37… Read More
PH-China trade dialogue eyed this year
March 5, 2021, 5:29 pm
MANILA – Trade Secretary Ramon Lopez said they are hopeful to convene the next trade and investment dialogue with China this year, four years after their last discussion in 2017. “Even with the pandemic, we’re looking forward to the convening of the 29th Philippines-China Joint Commission… Read More
Economist eyes RRR cut once inflation stabilizes
March 5, 2021, 4:34 pm
MANILA – An economist said Friday a cut in banks’ reserve requirement ratio (RRR) remains possible if the elevated inflation rate stabilizes, citing the economy needs all the support it can get to recover from the pandemic. In a report, Rizal Commercial Banking Corporation (RCBC) chief… Read More
Cebu Landmasters to launch economic housing brand in VisMin
March 5, 2021, 1:41 pm
MANILA – Cebu Landmasters Inc. (CLI) has announced the 2021 rollout of its flagship economic housing brand Casa Mira to four more key cities in the Visayas and Mindanao (VIsMin) regions as the response to the massive demand for safe and secure value housing heightened by the pandemic. CLI chief… Read More
Inflation upticks still temporary: Diokno
March 5, 2021, 1:35 pm
MANILA – Domestic rate of price increases surpassed the government’s target band for the second consecutive month last February at 4.7 percent but Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno maintains this remains temporary. In a Viber message to journalists Friday, Diokno… Read More
Monde Nissin seeks SEC approval for IPO
March 4, 2021, 7:59 pm
MANILA – The Securities and Exchange Commission (SEC) received Thursday the registration statement of Monde Nissin Corp. for the initial public offering (IPO) of up to 3.6 billion common shares at an offer price of up to PHP17.50 per share, with an over-allotment option of up to 540 million… Read More
Public now more aware of mechanisms vs. cybercrime: BSP
March 4, 2021, 7:52 pm
MANILA – Filipinos are now more aware of the mechanisms against cybercrime as shown by the number of complaints submitted to the Bangko Sentral ng Pilipinas (BSP). In a virtual briefing Thursday, BSP Governor Benjamin Diokno said the central bank’s Consumer Protection and Market Conduct… Read More
Stocks dip, peso weakens ahead of inflation data
March 4, 2021, 6:32 pm
MANILA – The Philippine Stock Exchange index (PSEi) ended its four-day rally Thursday and this affected the local currency due in part to correction. The main equities gauge lost 0.87 percent, or 60.27 points, to 6,882.49 points. All Shares slipped by 0.56 percent, or 23.54 points, to… Read More
Inflation expectations still well-anchored amid upticks
March 4, 2021, 5:28 pm
MANILA – Monetary officials said inflation expectations in the Philippines remain well-anchored even after the rate of price increases surpassed the government’s 2-4 percent target band last January. The rate of price increases has been on the rise since the last quarter of 2020 and it hit… Read More
IPOPHL boosts anti-counterfeiting, piracy measures with new rules
March 4, 2021, 4:07 pm
MANILA – New rules at the Intellectual Property Office of the Philippines (IPOPHL), which took effect on Wednesday, have expanded the powers of its Intellectual Property Rights Enforcement Office (IEO), enabling it to more effectively curb online counterfeiting and piracy. Under IPOPHL's… Read More
PBEd, Aussie gov’t partner to address skills mismatch in PH
March 4, 2021, 3:56 pm
MANILA – The Philippine Business for Education (PBEd) and the Australian Department of Foreign Affairs and Trade (DFAT) signed Thursday a memorandum of understanding (MOU) to launch A Future that Works (AFW) initiative that aims to develop Filipino workforce and address skills mismatch in the… Read More
DOE orders stable power supply during vaccine rollout
March 4, 2021, 3:49 pm
MANILA – Department of Energy (DOE) Secretary Alfonso Cusi has issued an advisory to all power generation companies and industry stakeholders to ensure reliable and stable supply of energy as the government started its coronavirus disease 2019 (Covid-19) vaccine rollout. Cusi directed… Read More
MPIC eyes return of pre-pandemic earnings level by ’22, ‘23
March 3, 2021, 7:35 pm
MANILA – Officials of Metro Pacific Investments Corporation (MPIC) consider 2021 as a recovery year for the company and a return to pre-pandemic earnings performance is seen within one to two years. In a virtual briefing Wednesday, MPIC chief finance officer (CFO) June Cheryl Cabal-Revilla said… Read More
BOI approvals surge 156% in Jan-Feb ‘21
March 3, 2021, 7:07 pm
MANILA – Investment approvals at the Board of Investments (BOI) surged by 156 percent in the first two months of the year compared to the same period in 2020, Trade Secretary and BOI Chairman Ramon Lopez said on Wednesday. “Investments registered in our Board of Investments showed sustained… Read More
Peso stays firm vs. US dollar as stocks rise anew
March 3, 2021, 6:55 pm
MANILA – The Philippine Stock Exchange index (PSEi) gained anew Wednesday due to bargain hunting and this benefited the peso. The main equities index rose by 0.34 percent, or 23.22 points, to 6,942.76 points. All Shares tracked the main gauge after it rose by 0.16 percent, or 6.84 points, to… Read More
Beijing-based AIIB exploring $300-M loan for PH
March 3, 2021, 6:44 pm
MANILA – Beijing-based multilateral development bank Asian Infrastructure Investment Bank (AIIB) is exploring USD300 million worth of loans for the Philippines, AIIB president Jin Liqun said Wednesday. At the virtual Manila Forum of the Association of Philippines-China Understanding (APCU), Jin… Read More
TDF rates post mix results as investors search for yields
March 3, 2021, 6:14 pm
MANILA – Rates of the Bangko Sentral ng Pilipinas’ (BSP) term deposit facility (TDF) posted mix results Wednesday, which a monetary official pointed to investors’ preference for the longer-term facility. Data released by the central bank showed a drop in the weighted average interest rate of… Read More
German firm, biz group support PH’s renewable energy shift
March 3, 2021, 5:37 pm
MANILA – The German-Philippine Chamber of Commerce and Industry (GPCCI), the German Biogas Association, and Lipp GmBH started a series of trainings with its Philippine partners on the use of biogas technology. The training started on March 2 with participants from Dole Philippines,… Read More
SSS says e-transactions up more than twice due to pandemic
March 3, 2021, 5:16 pm
MANILA – Quarantine restrictions put in place to address the spread of the coronavirus disease (Covid-19) resulted in the surge in Social Security System’s (SSS) electronic transactions in 2020. In a virtual briefing Wednesday, SSS Executive Vice President Judy Frances A. See said transactions… Read More
