Business
Customs Dumaguete sub-port exceeds 2020 collection by P800-M
February 16, 2021, 7:54 pm
DUMAGUETE CITY – The Bureau of Customs sub-port office in Dumaguete City has exceeded its target revenue collection for the year 2020 by more than PHP800 million. Dumaguete Customs Collector Fe Lluelyn G. Toring in an interview Tuesday said that at the end of last year, their actual collection… Read More
PEZA wants to convert Mindanao’s idle public lands into ecozones
February 16, 2021, 7:28 pm
MANILA – The Philippine Economic Zone Authority (PEZA) aims to have more special economic zones in Mindanao by converting idle public lands in the southern part of the country. In a statement Tuesday, PEZA director general Charito Plaza urged leaders of national government agencies and local… Read More
PH foreign reserves seen to rise after slower growth in January
February 16, 2021, 6:24 pm
MANILA – A pick-up of the country’s foreign reserves is expected this year despite a slower growth last January as the economy reopens and economic activity improves. Data released by the Bangko Sentral ng Pilipinas (BSP) Monday showed a 1.2-percent decline in the country’s gross… Read More
DTI backs nationwide MGCQ by March
February 16, 2021, 6:18 pm
MANILA – Trade Secretary Ramon Lopez supports the recommendation of Acting Socioeconomic Planning Secretary Karl Kendrick Chua to place the entire country under modified general community quarantine (MGCQ) next month amid the increase in joblessness and poverty rate brought by the coronavirus… Read More
Stocks index recovers; peso weakens to 48-level
February 16, 2021, 6:14 pm
MANILA – The Philippine Stock Exchange index (PSEi) recovered Tuesday after a two-day slide but the peso weakened as investors weighed developments in the US, especially on the stimulus spending. The main equities index rose by 1.22 percent, or 84.85 points, to 7,044.06 points. All the other… Read More
Stimulus package, better employment to lift PH consumer spending
February 16, 2021, 4:38 pm
MANILA – The recovery in consumer spending in the country is “getting underway” this year supported by the government’s stimulus package and improving employment numbers, Fitch Solutions said Tuesday. Fitch Solutions retained its consumer spending forecast growth for the Philippines this… Read More
SEC warns vs. crypto, crowdfunding, franchising scams
February 16, 2021, 3:39 pm
MANILA – The Securities and Exchange Commission (SEC) on Tuesday warned the public against individuals and groups engaged in unauthorized investment-taking activities disguised as cryptocurrency trading and franchising. In separate advisories issued on Feb. 9, the Commission advised the public… Read More
Singapore’s economy shrinks 5.4% in 2020
February 15, 2021, 9:18 pm
JAKARTA, Indonesia – Singapore's economy contracted by 5.4 percent in 2020, the Trade and Industry Ministry said on Monday, slipping into the worst recession since Independence in 1965. This marked the country’s first annual contraction since 2001. However, the figure is slightly better than… Read More
SM Prime nets P18-B in 2020
February 15, 2021, 7:55 pm
MANILA – SM Prime Holdings Inc. (SM Prime), one of the leading integrated property developers in Southeast Asia, has reported a PHP18-billion consolidated net income in 2020 from PHP38.1 billion the previous year. In a statement Monday, SM Prime said its consolidated revenues also reached… Read More
GCash has now over 33 million users
February 15, 2021, 7:50 pm
MANILA – Digital transactions in the country has exponentially grown in the past year, with GCash now being patronized by almost one of three Filipinos nationwide. In a statement on Monday, Mynt, the operator of GCash and a subsidiary of Globe Telecom Inc., said its base of registered users has… Read More
Peso touches 47-level; PH shares slip
February 15, 2021, 7:47 pm
MANILA – The Philippine Stock Exchange index (PSEi) ended lower on Monday as investors stayed at the sidelines and ahead of the President’s Day holiday in the US while the peso ended sideways even after touching the 47-level. The main equities index shed 0.45 percent, or 31.80 points, to… Read More
T-bill rates down anew
February 15, 2021, 7:38 pm
MANILA – The rates of the Philippines treasury bills (T-bills) declined across-the-board Monday as domestic liquidity remained ample. The average rate of the 91-day paper slipped to 0.845 percent, the 182-day to 1.046 percent, and the 364-day to 1.416 percent. These were at 0.846 percent,… Read More
DTI to ban ‘installment sale only’ scheme on motorcycle purchases
February 15, 2021, 6:32 pm
MANILA – The Department of Trade and Industry (DTI) is preparing a department administrative order (DAO) that will prohibit dealers of motorcycles from selling units on installment basis only. At the Senate Committee on Accountability of Public Officers and Investigations hearing Monday, DTI… Read More
Economist sees loan growth back to pre-pandemic level in 2022
February 15, 2021, 6:27 pm
MANILA – Consumer loans are projected to lead the recovery of various sectors this year but their return to pre-pandemic levels, including those of domestic growth and the jobs markets, are seen only by next year. In a virtual briefing Monday, ING Bank Manila senior economist Nicholas Mapa… Read More
PCC files case vs. condo developer due to exclusive internet deal
February 15, 2021, 6:23 pm
MANILA – The Philippine Competition Commission (PCC) has filed a case against Greenfield Developer Corp. and its subsidiary Leopard Connectivity Business Solutions Inc. due to their in-house exclusive internet service provider (ISP) deal with residents. Greenfield Corp. only allows its… Read More
CREATE Act to spur knowledge-based sectors to do business in PH
February 15, 2021, 5:12 pm
MANILA – Finance Secretary Carlos Dominguez III said Monday the rise of a science and technology (S&T) park in Batangas could clear the way for startups from India and other countries to establish their presence in the Philippines and accelerate the country’s shift to the new knowledge… Read More
Oil firms set to hike prices anew
February 15, 2021, 5:04 pm
MANILA – Oil firms will impose anew increases in their pump prices effective Tuesday. In separate advisories, Chevron, Cleanfuel, Petro Gazz, Petron, PTT Philippines, Seaoil, Shell, and Unioil will implement a big-time increase in diesel prices by PHP1.25 per liter. Chevron, Petron, Seaoil,… Read More
BIR intensifies enforcement activities to boost tax collection
February 14, 2021, 12:11 pm
MANILA – The Bureau of Internal Revenue (BIR) aims to increase its collection by 7.23 percent to PHP2.08 trillion this year by improving tax compliance among all taxpayers, strengthening its budget management system, speeding up its recruitment and promotion of employees, expanding its… Read More
Public advised to surrender shredded banknotes in their custody
February 13, 2021, 10:43 am
MANILA – The Bangko Sentral ng Pilipinas (BSP) has urged the public to submit to the central bank shredded banknotes that they may have gotten hold of by chance. It made the call Friday night following an incident in Roxas City, Capiz earlier this week wherein the service provider tapped to… Read More
2 aspiring Cebu entrepreneurs get business capital from DTI
February 12, 2021, 6:28 pm
CEBU CITY – Two aspiring entrepreneurs have received PHP6,000 worth of livelihood starter kits each from the Department of Trade and Industry (DTI)-Cebu after graduating from the “3A Bootcamp: Accept, Adapt and Act” program of the DTI Philippine Trade Training Center in partnership with the… Read More
