Business
Economist sees peso to remain strong vs. USD this year
February 12, 2021, 5:55 pm
MANILA – The peso has been trading flat at around 48-level against the US dollar in about two months now and it is seen to range between 48.00-49.00 this year. It remains to be among the strongest currency in the region to date as it continues to trade on its strongest in more than four years,… Read More
PH businesses urged to build quake-resilient infra
February 12, 2021, 1:57 pm
MANILA – Philippine Institute of Volcanology and Seismology (Phivolcs) Director Renato Solidum Jr. on Thursday urged businesses to be disaster-resilient and be better prepared for a destructive earthquake. In a webinar organized by the Bank of the Philippine Island (BPI), Solidum said building… Read More
JG Summit unit launches big data analytics tool
February 11, 2021, 8:26 pm
MANILA – Data Analytics Ventures, Inc. (DAVI), a business unit of JG Summit Holdings, Inc. and NielsenIQ, a global measurement company, have announced a strategic alliance in the use of big data analytics to provide customized and relevant product offers to members of Robinsons loyalty… Read More
Solid structural framework needed in fight vs. money laundering
February 11, 2021, 8:22 pm
MANILA – Structural framework of agencies that are part of the fight against money laundering needs to be solid to maximize the benefits of continued amendments in the Philippines’ Anti-Money Laundering Act (AMLA), Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said Thursday. In a… Read More
SMC opens 2 new Skyway 3 ramps
February 11, 2021, 8:03 pm
MANILA – San Miguel Corporation (SMC) on Thursday opened to the public two new ramps of the newly-operational Skyway Stage 3, further improving accessibility and ease of travel within Metro Manila, via the 18-kilometer elevated expressway. SMC president and chief operating officer Ramon S. Ang… Read More
BSP keeps key rates steady after inflation exceeds target
February 11, 2021, 7:37 pm
MANILA – The Bangko Sentral ng Pilipinas’ (BSP) policy-making Monetary Board (MB) kept the central bank’s key rates steady Thursday as expected given the elevated inflation rate. To date, the BSP’s overnight reverse repurchase (RRP) facility is at a record-low 2 percent, the overnight… Read More
Peso trades sideways as stocks slip on earnings reports
February 11, 2021, 6:16 pm
MANILA – The Philippine Stock Exchange index (PSEi) declined Thursday ahead of the Chinese New Year holiday but the peso managed to remain firm against the greenback. The main equities index shed 1.29 percent, or 91.14 points, to 6,991.01 points. All Shares went down by 0.89 percent, or 37.85… Read More
SB Corp. eyes 60K MSMEs benefiting from CARES loan program
February 11, 2021, 6:12 pm
MANILA – The Small Business (SB) Corp. targets up to 60,000 more micro, small and medium enterprises (MSMEs) to benefit from the zero-interest Covid-19 Assistance to Restart Enterprises (CARES) program this year. “With the available funds from the Bayanihan 2, we hope to reach 50,000 to… Read More
Bancassurance boosts Pru Life UK’s traditional insurance sales
February 11, 2021, 6:08 pm
MANILA – Sales of Pru Life UK’s traditional insurance products have been boosted by its bancassurance partnership with Robinsons Bank since 2018 thus, the renewal of the tie-up for another three years starting this month. During the virtual signing ceremony on Thursday, Pru Life UK president… Read More
January vehicle sales decline slowest in 10 months
February 11, 2021, 4:14 pm
MANILA – The local automotive industry showed signs of improvement in January this year after posting its first single-digit decline in volume of sales for the past 10 months. Joint report of the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and the Truck Manufacturers… Read More
Asia-Pacific businesses press for unified action vs. pandemic
February 10, 2021, 8:28 pm
JAKARTA – Business leaders from 21 Asia-Pacific economies discussed at this week’s virtual meeting ways to unitedly tackle coronavirus disease 2019 (Covid-19) and rebuild the region’s economies, according to the APEC Business Advisory Council’s (ABAC) release issued and received here… Read More
DTI suspends consolidation of Covid-19 vaccine orders from biz
February 10, 2021, 7:37 pm
MANILA – The Department of Trade and Industry (DTI) has suspended the consolidation of orders for coronavirus disease 2019 (Covid-19) vaccine from small and medium enterprises, Secretary Ramon Lopez said Wednesday. Lopez said there were around 10 companies that tapped DTI for the procurement of… Read More
Cebu biz group works hard to rebuild consumer confidence
February 10, 2021, 7:26 pm
CEBU CITY – A business group in Cebu is working hard with the government to rebuild consumer confidence amid the slowdown in the economy due to the coronavirus disease 2019 (Covid-19) crisis, a top business leader here on Wednesday said. Cebu Chamber of Commerce and Industry (CCCI) president… Read More
Economist sees BSP keeping rates steady
February 10, 2021, 7:17 pm
MANILA – An economist forecasts an unchanged policy rate for the Bangko Sentral ng Pilipinas (BSP) on Thursday, citing the need for monetary authorities to monitor any possible second-round effects of the elevated inflation rate. In a report, ING Bank Manila senior economist Nicholas Mapa… Read More
7-day BSP term deposit facility rate declines anew
February 10, 2021, 7:13 pm
MANILA – The change in maturity preference resulted in the mixed results in the Bangko Sentral ng Pilipinas’ (BSP) term deposit facility (TDF) rates Wednesday. The rate of the seven-day TDF declined further to 1.6154 percent but the rate of the 14-day facility rose to 1.6264 percent in this… Read More
PSEi up, peso flat ahead of 1st BSP policy meeting this year
February 10, 2021, 5:45 pm
MANILA – The Philippine Stock Exchange index (PSEi) ended Wednesday higher while the peso continued its sideways close against the greenback. The main equities index inched up by 0.24 percent, or 16.60 points, to 7,082.15 points. All Shares also finished the day on a positive note after rising… Read More
No backlogs on DTI’s loan evaluation
February 10, 2021, 3:34 pm
MANILA – Department of Trade and Industry (DTI) Secretary Ramon Lopez said its financing arm, Small Business (SB) Corp., has accelerated the process to apply and approve loans under the Covid-19 Assistance to Restart Enterprises (CARES) program. In a statement Wednesday, Lopez said SB Corp. has… Read More
Asia-Pacific countries dominate Agility emerging markets index
February 10, 2021, 2:37 pm
SINGAPORE – Asia-Pacific nations lead all emerging market regions with China, India and Indonesia being the world’s top emerging markets in the 12th annual Agility Emerging Markets Logistics Index, a broad gauge of competitiveness based on logistics strength and business fundamentals. The… Read More
BAP thanks BSP for acquirer-based ATM fee policy
February 10, 2021, 1:49 pm
MANILA – Bangko Sentral ng Pilipinas’ (BSP) acquirer-based automated teller machine (ATM) fee policy ensures competition among financial institutions for the benefit of the banking public, the Bankers Association of the Philippines (BAP) said. In a statement Wednesday, BAP backed the… Read More
NEDA pushes for safe, gradual reopening of economy
February 10, 2021, 12:34 pm
MANILA – The government will continue its efforts to safely further reopen the economy to mitigate hunger among Filipinos affected by the lockdowns due to the coronavirus pandemic, the country’s chief economist said Wednesday. During the Coordinated Operations to Defeat Epidemic (CODE) team's… Read More
