Business
No disconnection for electricity bills due March 2021: DOE
February 7, 2021, 2:54 pm
MANILA – The Department of Energy (DOE) has issued an advisory to all distribution utilities (DUs) regarding the extension of “no disconnection policy” for lifeline consumers. The advisory dated Feb. 5 is pursuant to President Rodrigo Duterte’s approval of DOE’s recommendation to… Read More
DOF secures $17-B external financing for budget support, projects
February 7, 2021, 12:29 pm
MANILA – The Department of Finance (DOF) has contracted a total of USD17.06 billion in affordable financing from external sources in 2020 for key infrastructure projects and other priority programs, and for helping bridge the wider fiscal deficit incurred last year because of the huge state… Read More
NorMin's formal sector economy surges to 104% in 5-year survey
February 5, 2021, 7:00 pm
CAGAYAN DE ORO CITY--Northern Mindanao's formal sector was the top contributor to the increase of the region's economy in 2018, according to data released by the Philippine Statistics Authority in Region 10 (PSA-10) on Friday.Based on the 2018 Census of Philippine Business and Industry (CPBI),… Read More
BSP debt securities rate down anew
February 5, 2021, 6:45 pm
MANILA – Rate of Bangko Sentral ng Pilipinas’ (BSP) 28-day securities declined again Friday due to strong demand, boosted by high domestic liquidity situation. Data released by the central bank showed a weighted average interest rate of 1.6124 percent for the debt paper, a drop from 1.6251… Read More
PH stocks ends week up, peso finishes sideways vs. US dollar
February 5, 2021, 6:28 pm
MANILA – The Philippine Stock Exchange index ended the week up due to bargain hunting and the peso stayed firm against the greenback. The main equities gauge rose 1.67 percent, or 115.43 points, to 7,019.18 points. All Shares increased by 1.24 percent, or 51.47 points, to 4,216.80 points. All… Read More
DTI to head task force on employment recovery strategy
February 5, 2021, 6:12 pm
MANILA – The Department of Trade and Industry (DTI) will chair the newly formed Inter-Agency Task Force on the National Employment Recovery Strategy (NERS) to bring back jobs in the labor market and enhance the skills of the local workforce. “The objective of this employment strategy is to… Read More
No monetary policy response pending second round effects: Diokno
February 5, 2021, 4:58 pm
MANILA – Near-term inflation pressures do not need monetary policy response unless it results in second-round effects, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said on Friday. This, after rate of price increases rose for the fourth consecutive month to 4.2 percent last… Read More
Economist sees steady policy stance from BSP in February
February 5, 2021, 4:56 pm
MANILA – An economist discounts any change in Bangko Sentral ng Pilipinas’ (BSP) policy rates this month despite the above-target inflation rate last January, citing a difference in several factors now compared to past breach. The rate of price increases rose for the fourth consecutive month… Read More
Subic develops corporate jet maintenance ‘bubble’
February 5, 2021, 3:55 pm
SUBIC BAY FREEPORT – The Subic Bay Metropolitan Authority (SBMA) has developed an end-to-end platform called “Corporate Jet Maintenance Bubble” (CJMB) that will continuously deliver services amid the coronavirus disease 2019 (Covid-19) pandemic. SBMA chairman and administrator Wilma T. Eisma… Read More
Maxus PH eyes to grow sales by 5x this year
February 5, 2021, 3:09 pm
MANILA – Maxus Philippines targets to increase its sales volume this year by five times amid the ongoing pandemic and safeguard measures slapped on imported vehicles, its new general manager Jun Cajayon said. Cajayon said its latest sport utility vehicle (SUV) model Maxus D60 will contribute to… Read More
Biz group urges gov’t to procure locally-made shoes
February 5, 2021, 12:11 pm
MANILA – The Philippine Footwear Federation Inc. (PFFI) has urged the government to locally source footwear used by uniformed personnel. In an interview Friday, PFFI director general Roger Py said the group is tapping lawmakers to include this amendment to Republic Act (RA) 9290 or the Footwear,… Read More
PH inflation quickens to 4.2% in January
February 5, 2021, 11:38 am
MANILA – The rate of price increases in the Philippines accelerated for the fourth consecutive month in January to 4.2 percent primarily due to faster price upticks of some vegetables and meat products as well as fuel prices. National statistician Claire Dennis Mapa, in a virtual briefing… Read More
Cebu Chamber bags global award for Covid-19 initiatives
February 4, 2021, 8:27 pm
CEBU CITY – The Cebu Chamber of Commerce and Industry (CCCI) announced on Thursday it has bagged the Covid-19 (coronavirus disease 2019) Hero Chamber of the Year award during the 4th annual APAC Chamber of Commerce Awards by Glue up. The Awards recognizes and honors chambers in the Asia-Pacific… Read More
BSP, BFAR to use interactive game for fisherfolk's fin-ed
February 4, 2021, 7:32 pm
MANILA – The Bangko Sentral ng Pilipinas (BSP) and the Bureau of Fisheries and Aquatic Resources (BFAR) will use an interactive game to teach financial education (fin-ed) to about 1.9 million fisherfolk nationwide. In a virtual briefing Thursday, BSP Governor Benjamin Diokno said the… Read More
PH among nations with high readiness to buy electric vehicles
February 4, 2021, 7:26 pm
MANILA – A Nissan-commissioned study by market research firm Frost & Sullivan shows that Indonesia, the Philippines, and Thailand are the top three nations in Southeast Asia with the highest inclination in adopting electric vehicles. At the Nissan FUTURES—Electrification and Beyond virtual… Read More
Coin demand falls in 2020 amid pandemic: BSP
February 4, 2021, 7:22 pm
MANILA – Movement restrictions since the pandemic hit last year has resulted not only in the rise of digital payments but also the drop in coin demand in the country, the Bangko Sentral ng Pilipinas (BSP) reported. “Based on end-2020 data, coin demand fell by 60 percent in value and 57… Read More
Stocks up anew; peso still on sideways trend vs. dollar
February 4, 2021, 7:18 pm
MANILA – The local stock barometer rose anew Thursday on a positive earnings report while the peso kept its footing against the US dollar. The Philippine Stock Exchange index (PSEi) rose by 0.65 percent, or 44.29 points, to 6,903.75 points. All Shares increased by 0.53 percent, or 22.07… Read More
MSMEs, academe link up for business recovery
February 4, 2021, 6:49 pm
DAVAO CITY – Various micro, small and medium enterprises (MSMEs) are being linked up with academe experts to help them address business challenges.A statement from the Department of Trade and Industry in Region 11 (DTI-11) said Thursday MSMEs are one of the hardest-hit by the pandemic, following… Read More
NEDA sees PH surpassing 6.5%-7.5% growth target in 2022
February 4, 2021, 6:35 pm
MANILA – The National Economic and Development Authority (NEDA) is keeping its growth target of 6.5 percent to 7.5 percent this year but sees the economy maintaining such growth next year taking into account the short and medium-term impacts of the coronavirus disease 2019 (Covid-19) pandemic.… Read More
PCCI backs calibrated pork importation
February 4, 2021, 2:38 pm
MANILA –The Philippine Chamber of Commerce and Industry (PCCI), the country’s largest business organization, has expressed its support to the Department of Agriculture (DA) in ensuring supply of meat in the local market. The PCCI proposed a “calibrated importation of pork” amid the… Read More
