Business
RCBC ramps up digitization efforts
February 23, 2021, 7:54 pm
MANILA – Digital push will continue to be among the major priorities of Rizal Commercial Banking Corporation (RCBC) this year as more people realize the advantages of transacting using this mode. In a virtual briefing Tuesday, RCBC Treasurer and Head of Treasury Group Horacio Cebrero said they… Read More
Restoration of PDAX system, user accounts eyed this week
February 23, 2021, 7:50 pm
MANILA – The full restoration of Philippine Digital Asset Exchange’s (PDAX) system and user accounts is expected on Wednesday (Feb. 24) after a 36-hour system check following a glitch that resulted in unusual cryptocurrency trading last Feb. 16. In a virtual briefing Tuesday, PDAX founder and… Read More
AllHome continues to expand north; opens Isabela store
February 23, 2021, 7:45 pm
MANILA – AllHome, the country’s pioneering one-stop full-line home center, continues to expand its network outside Metro Manila as it opens a store in Cauayan City, Isabela. AllHome Cauayan is the seventh branch to open in Luzon, outside of Metro Manila and the 15th large free-standing store… Read More
PSEi, peso end sideways on US stimulus developments
February 23, 2021, 7:10 pm
MANILA – Both the Philippine Stock Exchange index (PSEi) and the peso ended sideways on Tuesday as investors awaited developments on the Biden administration’s stimulus plan. The main equities index rose by 0.06 percent, or 4.33 points, to 6,814.67 points. All Shares declined by 0.33… Read More
SEC PH joins Global Financial Innovation Network
February 23, 2021, 6:37 pm
MANILA – The Securities and Exchange Commission (SEC) has joined the Global Financial Innovation Network (GFIN) in line with its commitment to supporting the development of the Philippine capital market and overall financial sector. “We thank the GFIN for welcoming the SEC to its growing… Read More
Shakey’s Pizza restarts store expansion
February 23, 2021, 5:05 pm
MANILA – Shakey’s Pizza Asia Ventures Inc., the Philippines’ leading chained full-service restaurant, is set to open 15 new Shakey’s and 15 new Peri-Peri Charcoal Chicken outlets this year, restarting a store network expansion strategy that was put on hold last year due to the coronavirus… Read More
RCBC eyes lower loan provisioning this year
February 23, 2021, 4:58 pm
MANILA – Rizal Commercial Banking Corporation (RCBC) plans to allocate about 1.5 percent of its loan portfolio for provisioning this 2021, lower than last year’s 2.3 percent as it sees improvement in economic activities. “We will continue to maintain a high provisioning level but not as… Read More
PLDT, DITO ink interconnection deal
February 23, 2021, 1:53 pm
MANILA – The country’s oldest and newest telecommunications companies, PLDT and DITO Telecommunity, have entered into an agreement for the construction of a transmission facility that will serve as an interconnection point for both of their subscribers. PLDT will establish and manage the… Read More
JG Summit invests in fintech focused on emerging markets
February 23, 2021, 12:55 pm
MANILA – Gokongwei-led JG Summit Holdings Inc. (JGS) has secured a stake in Tyme, one of the world’s fastest-growing digital banks based in South Africa which is seeking to explore emerging markets in developing economies particularly in the Asean. JGS has taken part in an estimated PHP5.3… Read More
Stocks, peso slip on profit-taking
February 22, 2021, 8:36 pm
MANILA – Profit-taking reigned in the local equities market on Monday after it affected the foreign exchange market partly on increased yield of 10-year US Treasury bonds. After a recovery last Friday, the Philippine Stock Exchange index (PSEi) shed 1.68 percent, or 116.07 points, to 6,810.34… Read More
S&P Global Ratings eyes spike in PH banks' NPL ratio in Q1
February 22, 2021, 8:32 pm
MANILA – Philippine banks’ loan provisioning in 2020 is benefiting the sector this year, although a spike in non-performing loans (NPLs) is expected in the first quarter after moratorium on loan payments. In a report, S&P Global Ratings forecasts NPLs to expand by six percent this year from… Read More
PH T-bill rates up
February 22, 2021, 8:24 pm
MANILA – The rates of the Philippines treasury bills (T-bills) rose across-the-board Monday following the trend of US Treasuries. The average rate of the 91-day paper increased to 0.875 percent, the 182-day to 1.067 percent, and the 364-day to 1.527 percent. These were at 0.845 percent,… Read More
DTI-7 aids small entrepreneurs in managing business
February 22, 2021, 7:30 pm
CEBU CITY – The Department of Trade and Industry (DTI) in Central Visayas is conducting enterprise development seminars to help entrepreneur beneficiaries of the SUGBO Negosyo program of the Cebu provincial government. Emelinda Tayad, a 59-year-old housewife from Talisay City, Cebu, is among… Read More
Substandard construction materials tightly monitored
February 22, 2021, 6:38 pm
CABANATUAN CITY, Nueva Ecija – The Department of Trade and Industry (DTI) provincial office here is strictly monitoring hardware stores for possible proliferation of uncertified products, particularly steel and cement. Romeo Eusebio Faronilo, chief of Consumer Protection Division (CPD) of… Read More
BOI approves local production of EV fast chargers, retrofit kits
February 22, 2021, 4:19 pm
MANILA – The Board of Investments (BOI) has approved the project of CHRG Electric Vehicle Technologies, Inc. to produce electric vehicle (EV) fast chargers and retrofit kits, the investment promotion agency bared Monday. In a statement, BOI said CHRG invested PHP3.9 billion for its production… Read More
Another big-time oil price hike set this week
February 22, 2021, 4:16 pm
MANILA – Another big-time increase on pump prices will be implemented starting Tuesday. In separate advisories, Chevron, Cleanfuel, Petro Gazz, PTT Philippines, Seaoil, and Shell said they will raise prices of gasoline by PHP1.20 per liter and of diesel by PHP0.95 per liter. Chevron, Seaoil,… Read More
PhilGuarantee expands credit support to MSMEs
February 21, 2021, 7:06 pm
MANILA – The Philippine Guarantee Corp. (PhilGuarantee) has broadened its support to micro, small and medium enterprises (MSMEs), manufacturing, housing, agriculture and other key sectors of the economy to help keep businesses afloat amid the coronavirus pandemic, with over PHP655 billion in… Read More
Patent generation, commercialization incentivized under BOI’s IPP
February 21, 2021, 4:28 pm
MANILA – Projects to generate and commercialize patented technologies will now enjoy incentives from the government as these activities have been added into the Board of Investments’ (BOI) 2020 Investment Priorities Plan (IPP). Signed last Feb. 9 by Trade Undersecretary and BOI head Ceferino… Read More
DOE requires use of solar, RE technologies in buildings
February 20, 2021, 2:13 pm
MANILA – New and existing buildings are now required to use solar photovoltaic (PV) and other renewable energy (RE) technologies with the Department of Energy’s (DOE) issuance of a policy on the adoption of the guidelines on the energy-conserving design of buildings. Department Circular (DC)… Read More
ERC orders Meralco to refund PHP13.9-B in over-recoveries
February 20, 2021, 10:52 am
MANILA – Manila Electric Co. (Meralco) customers will soon be receiving refunds from the power distribution firm. This is after the Energy Regulatory Commission (ERC) has cleared Meralco to start the refund of over-recoveries based on its actual weighted average tariff charges (AWAT) worth… Read More
