Business
Economist cites factors to address drop in PH hot money
January 29, 2021, 2:43 pm
MANILA – Further reopening of the domestic economy and roll-out of coronavirus disease (Covid-19) vaccines are expected to help pique investors’ interest to the Philippines and address the outflows in foreign portfolio investments. This, after the country registered net outflows amounting to… Read More
BSP eyes January inflation at 3.7%
January 29, 2021, 2:40 pm
MANILA – The country's monetary officials forecast the rate of price increases in January 2021 to stay between 3.3-4.1 percent, with the midpoint at 3.7 percent, an uptick from the previous month’s level. In a Viber message to journalists Friday, Bangko Sentral ng Pilipinas (BSP) Governor… Read More
Recto expects passage of CREATE bill in 2 weeks
January 29, 2021, 2:26 pm
MANILA – Senator Ralph Recto on Friday said members of the bicameral conference committee are expected to pass the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act within the next two weeks. In his speech during an electronics industry group’s event, Recto said the law that… Read More
DOE, Aussie firm partner to explore PH’s hydrogen potential
January 29, 2021, 12:18 pm
MANILA – The Department of Energy (DOE) has partnered with Australian research and development firm Star Scientific Ltd. to study hydrogen as a potential source of energy for the country. In a statement Friday, the DOE said Secretary Alfonso Cusi signed a memorandum of understanding (MOU) with… Read More
Mobility indicators, big data now part of BSP’s macro monitoring
January 28, 2021, 8:57 pm
MANILA – Mobility indicators and big data analytics will now be among the major components of the Bangko Sentral ng Pilipinas’ (BSP) macroeconomic surveillance system as it shifts into the New Economy. In a virtual briefing on Thursday, BSP Governor Benjamin Diokno said central banks that… Read More
2 PH firms, conglomerate join Bloomberg Gender-Equality Index
January 28, 2021, 8:50 pm
MANILA – Two Filipino companies and a conglomerate – DMCI Holdings, Inc., Semirara Mining and Power Corp. (SMPC), and SM Investments Corp. (SMIC) – have been named among the 380 companies across 11 sectors included in the 2021 Bloomberg Gender-Equality Index (GEI). The SMIC, which was… Read More
BSP says financial crimes soar during pandemic
January 28, 2021, 7:53 pm
MANILA – Fraudulent financial transactions, including those involving credit card usage, increased in 2020 during the pandemic, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said. In a virtual briefing Thursday, Diokno said other most common crimes involve unauthorized or… Read More
Economists eye positive PH economic growth this year
January 28, 2021, 7:48 pm
MANILA – Economists expect 2021 will remain to be a challenging year for the Philippines after posting a 9.5-percent contraction last year, but they remain optimistic on a positive economic performance on the back of fiscal spending. Citing the 2020 economic data, HSBC economist Noelan Arbis… Read More
DBP signs multibillion credit deal with ship building firm
January 28, 2021, 7:44 pm
MANILA – State-owned Development Bank of the Philippines (DBP) has granted a PHP4.17-billion term loan to Megaship Builders, Inc. (MBI) to upgrade and expand its shipbuilding and ship repair complex in Albuera, Leyte, a top official said. In a statement on Thursday, DBP president and chief… Read More
Nissan to push through with its e-vehicle launch in PH
January 28, 2021, 7:19 pm
MANILA – Nissan remains optimistic in the Philippine market particularly in the electric vehicle segment. In a virtual briefing with trade reporters Thursday, Nissan Philippines president and managing director Atsushi Najima said the Japanese carmaker will push through with its plan to… Read More
Stocks slip anew, peso still flat on slower economic contraction
January 28, 2021, 7:14 pm
MANILA – The local stock barometer slipped for the third consecutive day Thursday following the release of the country’s 2020 economic data but the peso remains sideways against the US dollar. The Philippine Stock Exchange index (PSEi) went down by 0.17 percent, or 11.77 points, to 6,851.84… Read More
Path to PH economic recovery ‘marathon,’ not sprint
January 28, 2021, 6:38 pm
MANILA – Officials of the National Task Force Recovery Cluster expect the Philippine economy is up for a long-term growth trajectory following the 9.5-percent contraction in 2020 amid the global health and economic crisis. In an interview on the sidelines of the National Task Force cluster on… Read More
SBMA releases P123-M revenue shares to neighboring LGUs
January 28, 2021, 4:56 pm
SUBIC BAY FREEPORT – The Subic Bay Metropolitan Authority (SBMA) continues to provide revenue shares to neighboring communities amid the coronavirus disease 2019 (Covid-19) pandemic. SBMA chairman and administrator Wilma T. Eisma said the agency will release a total of PHP123.1 million, which… Read More
PH economy contracts 9.5% in 2020; strong rebound seen
January 28, 2021, 2:09 pm
MANILA – The Philippine economy shrank a record 9.5 percent in 2020 but is expected to stage a strong recovery before the end of the year with the rollout of vaccines against coronavirus disease 2019 (Covid-19). The Philippine Statistics Authority (PSA) on Thursday reported the gross domestic… Read More
2020 IP filings down but seen to post record growth post-Covid-19
January 27, 2021, 8:17 pm
MANILA – For the first time since its establishment in 1998, filings at the Intellectual Property Office of the Philippines (IPOPHL) were down across all types of intellectual property (IP) as the coronavirus disease 2019 (Covid-19) pandemic had brought about a wait-and-see situation for many… Read More
1.2M sqm space to be added in PH office market
January 27, 2021, 7:04 pm
MANILA – Real estate consultancy firm Santos Knight Frank expects an additional 1.2 million square meters of leasable space in the office market this year. Santos Knight Frank senior director for occupier services and commercial agency Morgan McGilvray said the vacancy rate in the office sector… Read More
TDF rates slip anew as demand remains strong
January 27, 2021, 7:01 pm
MANILA – The Bangko Sentral ng Pilipinas (BSP) upsized further the offering for the term deposit facility (TDF) Wednesday as demand remained strong, thus the facility’s interest rates declined anew. Data released by the BSP showed that the rate of the seven-day TDF declined to 1.6220 percent… Read More
IMF improves forecast for global GDP growth in 2021 to 5.5%
January 27, 2021, 5:53 pm
WASHINGTON – The International Monetary Fund (IMF) improved its forecast for world gross domestic product (GDP) growth this year by 0.3 percentage points compared to its October estimates, according to the IMF's January report. Analysts of the fund expect the growth rate of world GDP will be… Read More
Stocks slip, peso still sideways ahead of GDP report
January 27, 2021, 5:50 pm
MANILA – The Philippine Stock Exchange index (PSEi) ended Wednesday in the negative territory again ahead of the country’s fourth-quarter and full-year 2020 gross domestic product (GDP) report while the peso finished sideways against the US dollar. The main equities index shed 1.63 percent,… Read More
Tax-related digitalization projects to be fully implemented
January 27, 2021, 5:18 pm
MANILA – The Department of Finance (DOF) expects the full nationwide implementation this year of the fuel marking program and several digitalization projects to improve tax administration in step with its goal of utilizing new technologies to boost tax compliance and fight official… Read More
