Business
Duterte OKs no disconnection policy extension for lifeliners
February 4, 2021, 1:49 pm
MANILA – Cabinet Secretary Karlo Alexei Nograles on Thursday said President Rodrigo Duterte has approved the recommendation of the Department of Energy (DOE) to extend the no disconnection policy for lifeline consumers. “The Department of Energy recommended to the President that the no… Read More
PH footwear designers ready for int’l competition in China
February 3, 2021, 8:53 pm
MANILA – Seven Filipino footwear designers are now ready to compete internationally after undergoing a series of training workshops on footwear making with Zapateria, the country’s first creative hub for footwear design and development. The 7th Filipino Footwear Design Competition (FFDC),… Read More
Moody's discounts sudden EM financial condition tightening
February 3, 2021, 8:03 pm
MANILA – The possibility of sudden emerging market (EM) financing conditions tightening is unlikely despite the recent steady rise of long-term US treasury yields, Moody’s Investors Service said, citing the current situation is different from other reversal episodes. In a report dated Feb. 2,… Read More
Mitsubishi units to supply CO2-reducing power generator to EDC
February 3, 2021, 7:47 pm
MANILA – Subsidiaries of Japanese firm Mitsubishi will be supplying power generation equipment that can cut carbon dioxide (CO2) emission to Energy Development Corporation’s (EDC) Palayan Binary Balance of Plant project. Lombardy, Italy-based Turboden S.p.A., a group company of Mitsubishi… Read More
More negative bank lending prints due to pandemic: economist
February 3, 2021, 7:03 pm
MANILA – The contraction in bank lending, which posted its first after over a decade, is expected to continue in the next months due to the pandemic. Citing Bangko Sentral ng Pilipinas (BSP) data released Wednesday, ING Bank Manila senior economist Nicholas Mapa, in a report, said the… Read More
Panelo says there’s no way for PH economy but up
February 3, 2021, 6:54 pm
MANILA – Despite the pandemic-induced blow to the economy, Chief Presidential Legal Counsel Salvador Panelo on Wednesday echoed the sentiment of economic managers that the country’s economy will bounce back. Panelo made this remark after President Rodrigo Duterte, in a recent speech, admitted… Read More
TDF rates slip amid undersubscription for 7-day facility
February 3, 2021, 6:35 pm
MANILA – The rates of the Bangko Sentral ng Pilipinas’ (BSP) term deposit facility (TDF) declined anew despite below-offer bids for the seven-day facility. Data released by the central bank Wednesday showed an average rate of 1.6157 percent for the seven-day facility and 1.6256 percent for… Read More
SB Corp. OKs P2.3-B loan under CARES program
February 3, 2021, 6:31 pm
MANILA – The Department of Trade and Industry’s (DTI) financing arm, Small Business (SB) Corp., said Wednesday it has approved PHP2.27 billion worth of loans under the Covid-19 Assistance to Restart Enterprises (CARES) program. These loans were applied by 21,358 micro, small, and medium… Read More
Cebu LGUs urged to create programs for local tourism, trade
February 3, 2021, 6:25 pm
CEBU CITY – Local government units are encouraged to create programs that will promote domestic tourism and locally-produced products and services as a way to help the economy survive from the impact of the coronavirus disease 2019 (Covid-19) crisis, a capitol official on Wednesday… Read More
PSEi snaps 2-day rally; peso still flat
February 3, 2021, 6:21 pm
MANILA – The Philippine Stock Exchange index (PSEi) slipped Wednesday after a two-day rally but the peso continues to remain firm against the greenback. The main equities index shed 0.12 percent, or 8.42 points, to 6,859.46 points. All Shares declined by 0.02 percent, or 0.91 points, to… Read More
Legazpi City reaps higher revenues in 2020 amid pandemic
February 3, 2021, 5:09 pm
LEGAZPI CITY – The city government here managed to collect higher revenues even with the prevailing pandemic in 2020 compared to its collected taxes in 2019. Data from the City Treasurer’s Office (CTO) showed the collected revenues peaked at more than PHP1.4486 billion last year, which is… Read More
AllHome opens 4th Mindanao site in General Santos
February 3, 2021, 4:00 pm
MANILA – AllHome, the country’s pioneering one-stop full line home center, continues to expand its store network as it marks the opening of its fourth branch in Mindanao, bullish about a market recovery. “AllHome’s expansion is fueled by our optimism on the recovery of the market this… Read More
DOF chief calls for bolder collective action vs. climate crisis
February 3, 2021, 3:56 pm
MANILA – Department of Finance (DOF) Secretary Carlos Dominguez III has called for "bolder collective action" in realizing the Philippines’ global commitment to reduce its carbon footprint, starting with the ambitious goal of banning single-use plastics, as it is among the countries most… Read More
Ovialand eyes P1-B takeouts with Pag-IBIG Fund
February 3, 2021, 1:10 pm
MANILA – Housing developer Ovialand, Inc. is slated to take out PHP1 billion in housing loan with Pag-IBIG Fund this year, as the demand for house and lot units continue to increase especially during the pandemic. “We will be completing 600 housing units this year across four developments in… Read More
PAL retrenches 30% of workforce
February 3, 2021, 8:18 am
MANILA – Flag carrier Philippine Airlines (PAL) announced Tuesday the retrenchment of 30 percent of its workforce or about 2,300 employees. The affected workers, combined voluntary separations and involuntary retrenchment, will remain employed until mid-March 2021, the carrier said. “This has… Read More
Gov't still has leeway on debt-to-GDP ratio: economist
February 2, 2021, 8:25 pm
MANILA – An economist said the Philippine government continues to have leeway on the proportion of debt to gross domestic product (GDP) despite hitting a 14-year high in 2020 on account of pandemic-related borrowings. In a report, Rizal Commercial Banking Corporation (RCBC) chief economist… Read More
BOI aims to lure more investments for V-shape recovery
February 2, 2021, 6:54 pm
MANILA – To help the economy bounce back in a V-shape recovery, the Board of Investments (BOI) targets to attract more investments this year as it eyes PHP1.25-trillion investment approvals at end-2021. The BOI originally targeted the PHP1.25 trillion worth of investment pledges last year, but… Read More
Stocks up anew; peso stays flat
February 2, 2021, 5:29 pm
MANILA – The appetite in the local equities market remained high Tuesday, tracking its counterparts in the US, while the peso again closed sideways against the greenback. The Philippine Stock Exchange index (PSEi) inched up by 0.78 percent, or 53.12 points, to 6,867.88 points. All Shares… Read More
10-year T-bond rate rises on higher inflation expectations
February 2, 2021, 5:26 pm
MANILA – The rate of the 10-year treasury bond (T-bond) rose Tuesday, which National Treasurer Rosalia de Leon attributed to expectations of higher inflation rate for January 2021. The average interest rate of the debt paper with a remaining term of nine years and five months increased to 3.066… Read More
Bulacan hosts first pharma ecozone in PH
February 2, 2021, 4:18 pm
MANILA – The province of Bulacan now hosts the country’s first pharmaceutical economic zone at the First Bulacan Business Park (FBBP) in Malolos City. In a statement Tuesday, the Philippine Economic Zone Authority (PEZA) said the first mixed-use ecozone in the province will host… Read More
