Business
Economist eyes further rise of PH BOP surplus, USD reserves
February 2, 2021, 3:22 pm
MANILA – The improvement of the country’s fundamentals is expected to further boost balance of payment (BOP) position and foreign reserves, which both posted record highs in 2020. The Bangko Sentral ng Pilipinas (BSP) reported on Monday the 2020 balance of payment (BOP) surplus rose to… Read More
Prime Infra, foreign partners look to develop biorefinery in MM
February 2, 2021, 12:54 pm
MANILA – Prime Metroline Infrastructure Holdings Corporation (Prime Infra) is partnering with WasteFuel, a next-generation waste to fuels company, to transform landfill waste into sustainable aviation fuel (SAF), and with Netjets, the world’s largest private jet company, to explore putting up… Read More
Gov't infra program to boost manufacturing sector
February 1, 2021, 8:38 pm
MANILA – The government’s 2021 infrastructure program is expected to partly boost Philippines’ manufacturing sector this year and help address the contraction in domestic growth and economic activities because of the pandemic. In a report, Rizal Commercial Banking Corporation (RCBC) chief… Read More
Improving manufacturing sector signals economic recovery: DTI
February 1, 2021, 7:38 pm
MANILA – Department of Trade and Industry (DTI) Secretary Ramon Lopez on Monday welcomed the improvement in the country’s manufacturing performance in January, noting this signals economic recovery for the Philippines. The IHS Markit Philippines Manufacturing Purchasing Managers’ Index… Read More
PH T-bill rates decline on strong demand
February 1, 2021, 7:33 pm
MANILA – The rates of the Philippines treasury bills (T-bills) declined across the board Monday as demand for government securities remained strong. The average rate of the 91-day paper slipped to 0.917 percent, the 182-day to 1.210 percent, and the 364-day to 1.492 percent. These were at… Read More
CebuPac sets new baggage policy, fine up to P1.3K
February 1, 2021, 7:18 pm
MANILA – Cebu Pacific (CEB) on Monday issued a new baggage policy, and has set a fine of up to PHP1,300 for oversized check-in luggage. In an advisory, the carrier said that effective February 1, 2021, check-in bags must not exceed 39 inches on any side. This way, luggage will fit easier in… Read More
Stocks up on Covid-19 vax optimism as peso ends sideways
February 1, 2021, 6:53 pm
MANILA – The local stock barometer ended Monday higher, boosted by reports about the deliveries of coronavirus disease 2019 (Covid-19) vaccines within the first quarter while the peso sustained its sideways close against the greenback. After a four-day slide last week, the Philippine Stock… Read More
Prices of gasoline up, kerosene down effective Feb. 2
February 1, 2021, 5:27 pm
MANILA – Oil firms are set to increase the price of gasoline while that of kerosene will be rolled back starting Tuesday. In separate advisories, oil companies such as Chevron, Cleanfuel, Petro Gazz, PTT Philippines, Seaoil, and Shell said they will hike gasoline prices by PHP0.25 per… Read More
More businesses shift to online space amid pandemic
February 1, 2021, 5:05 pm
CEBU CITY – The Department of Trade and Industry in Central Visayas (DTI-7) has intensified the advocacy on its e-commerce program to help local businessmen move forward and operate under the new normal. Marivic Aguilar, chief for Small and Medium Enterprise (SME) Development at DTI in Cebu,… Read More
PH manufacturing index records 1st growth amid pandemic
February 1, 2021, 4:46 pm
MANILA – The local manufacturing sector recovered in January 2021 after its 10-month slump since the onset of the coronavirus disease 2019 (Covid-19) pandemic, the IHS Markit’s manufacturing purchasing managers’ index (PMI) reported Monday. The Philippines’ manufacturing PMI in January… Read More
Salceda says bicam ready to pass ‘CREATE’ bill
January 31, 2021, 5:34 pm
LEGAZPI CITY – Albay Rep. Joey Salceda said Sunday the Senate and the House of Representatives finally ironed out the differences on the proposed reform of corporate income tax and fiscal incentives or Package 2 of the Corporate Recovery and Tax Incentives for Enterprises… Read More
Dinagat Islands nickel firm pays P43-M business tax
January 30, 2021, 6:19 pm
TAXES PAID. Cagdianao Mining Corporation resident mine manager Arnilo Milaor hands over to Cagdianao, Dianagat Islands Mayor Adolfo Longos an oversized check representing the company's PHP43 million payment for local business tax during a ceremony on Monday (Jan. 25, 2021). The nickel miner is the… Read More
Toyota to open P4.5-B imported vehicle logistics hub in Q4
January 30, 2021, 4:10 pm
MANILA – Toyota Motors Philippines (TMP) announced Saturday that it will start operations of the Batangas Vehicle Logistics Hub for imported vehicles in the fourth quarter of 2021. TMP invested PHP4.5 billion for the logistics hub located in its 32-hectare facility near Batangas Port, the… Read More
EU, PH meet focus on GSP+ implementation
January 30, 2021, 3:04 pm
MANILA – The Philippines and the European Union (EU) Subcommittee on Trade, Investments and Economic Cooperation held a virtual meeting Friday with “special attention” to the implementation of the Generalised Scheme of Preferences Plus (GSP+). Trade and Industry Assistant Secretary Allan… Read More
PHLPost seen to play vital role in delivery industry: report
January 30, 2021, 1:21 pm
MANILA – A report of Paris-based Organisation for Economic Co-operation and Development (OECD) and the Philippine Competition Commission (PCC) highlighted the role of the state-owned Philippine Postal Corp. (PHLPost) in the delivery industry in the country amid the robust e-commerce sector. The… Read More
Bataan freeport to attract emerging digital economies
January 30, 2021, 11:41 am
MARIVELES, Bataan – The Authority of the Freeport Area of Bataan (AFAB) has taken steps to attract emerging digital economies through blockchain, distributed ledgers, and financial technology solutions. AFAB Administrator Emmanuel Pineda said on Friday they have opened their doors for the… Read More
Silver lining amid pandemic: More Pinoys investing in stocks
January 29, 2021, 8:14 pm
MANILA – More Filipinos have started investing in the stock market as they take advantage of the decline in share prices amid the pandemic, while some plan to increase their stock exposure in the next six months, a report indicates. “A lot of people were not spending so much (because of… Read More
DTI eyes e-commerce's share of PH economy at 5.5% in 2022
January 29, 2021, 6:06 pm
MANILA – The Department of Trade Industry (DTI) has bared its e-commerce roadmap, eyeing the sector to value at PHP1.2 trillion or sharing 5.5 percent of the economy by 2022. From 2020’s baseline value of PHP599 billion, or contributing 3.4 percent to gross domestic product (GDP), DTI targets… Read More
Opening of more economic activities to continue: DTI
January 29, 2021, 4:55 pm
MANILA – Department of Trade and Industry (DTI) Secretary Ramon Lopez said his office will continue to recommend to the Inter-Agency Task Force for the Management of Emerging Infectious Diseases (IATF) the opening of more businesses and economic activities. In a public briefing hosted by the… Read More
Dominguez lauds Biden move for US to rejoin Paris climate deal
January 29, 2021, 3:06 pm
MANILA – Finance Secretary Carlos Dominguez III on Friday extolled US President Joe Biden’s decision for the US to rejoin the Paris Agreement on climate change, citing the need for greater cooperation to address the climate crisis. In a statement, he said Biden’s decision, which reversed the… Read More
