Business
BTr to offer P140-B debt securities next month
January 27, 2021, 4:54 pm
MANILA – The Bureau of the Treasury (BTr) is scheduled to offer PHP140 billion worth of government securities this February, same as this month except for the tenors of the Treasury bonds (T-bonds). In a memorandum to government securities eligible dealers (GSEDs) dated Jan. 26, National… Read More
Industrial, logistics to lead real estate recovery
January 27, 2021, 4:30 pm
MANILA – Amid the challenges brought by the health and economic crisis that started in 2020, a consultancy firm said the industrial and logistics sector will lead the recovery of the local real estate market. In a virtual press conference Wednesday, Santos Knight Frank chairman and chief… Read More
Ease economic policies, Dominguez urges lawmakers
January 26, 2021, 8:35 pm
MANILA – Finance Secretary Carlos Dominguez III has urged lawmakers to remove restrictive economic provisions in the Constitution to help in the recovery of the domestic economy partly by opening it to foreign investors. In his remarks during the meeting of the House of Representatives’… Read More
Infra spending, private sector upturn to boost PH recovery: IMF
January 26, 2021, 6:30 pm
MANILA – Increase in government’s infrastructure spending this year is expected to fuel Philippine economy’s recovery this year even as the International Monetary Fund (IMF) slashed its growth forecast for 2020 and 2021. “The projected rebound in 2021 and 2022 is primarily driven by a… Read More
Stocks dip, peso still flat as investors monitor US dev’ts
January 26, 2021, 6:27 pm
MANILA – The local stock market declined Tuesday after recovering the previous day as investors watched developments in the United States, among others, but the peso managed to keep its sideways close against the greenback. The Philippine Stock Exchange index (PSEi) shed 1.33 percent, or… Read More
Econ managers back Congress’ initiatives to liberalize economy
January 26, 2021, 5:11 pm
MANILA – Finance Secretary Carlos Dominguez III and Trade Secretary Ramon Lopez are supporting initiatives in the Congress to further open up the economy, whether through Charter change (Cha-cha) or the enactment of laws. During the meeting of the Commission on Constitutional Amendments of the… Read More
XPost to discontinue service effective Jan. 31
January 26, 2021, 2:49 pm
MANILA – Electronic commerce platform XPost has announced its decision to shut down its operations beginning Jan. 31. “It is unfortunate to share this news but after careful consideration, we have decided to discontinue XPost by January 31, 2021,” XPost said in an advisory posted on its… Read More
SM Prime issues interest rates for retail bond offer
January 26, 2021, 1:46 pm
MANILA – SM Prime Holdings Inc. (SM Prime) has set the interest rates for its peso-denominated Series M, 2.5-year retail bond at 2.4565 percent due in 2023, and Series N, 5-year retail bond at 3.8547 percent due in 2026. SM Prime issued an aggregate principal amount of PHP5 billion of the… Read More
DTI vows continued support amid halt on easing of restrictions
January 26, 2021, 10:15 am
MANILA – The Department of Trade and Industry (DTI) assured continued support for entrepreneurs to help their businesses thrive and survive amid the coronavirus disease 2019 (Covid-19) pandemic. In a message to reporters Tuesday, DTI Secretary Ramon Lopez said the IATF will “follow the wisdom… Read More
Jollibee aims 100 store openings of Vietnamese resto in PH
January 25, 2021, 8:27 pm
MANILA – To achieve its goal of making PHO24 a leading global pho chain, the Jollibee Group is set to expand Vietnam’s pho chain brand with a target 100 store openings in the Philippines, starting with three new store openings this year. The first opening in 2021 is scheduled next month and… Read More
Peso ends flat as shares rise on bargain hunting
January 25, 2021, 7:51 pm
MANILA – The local stock barometer ended Monday higher while the peso continued its sideways close against the US dollar as investors stayed at the sidelines partly due to developments in the US and the pandemic. The Philippine Stock Exchange index (PSEi) rose by 0.36 percent, or 25.67 points,… Read More
Global foreign direct investment down 42% in 2020
January 25, 2021, 6:37 pm
ANKARA – Mainly driven by the economic fallout from the coronavirus pandemic, global foreign direct investment (FDI) in 2020 slipped by 42 percent year-on-year to USD859 billion, according to the UN's trade and development body. Last year's figure was down from USD1.5 trillion in 2019, more… Read More
T-bill rates sustain decline
January 25, 2021, 6:35 pm
MANILA – The country’s Treasury bill (T-bill) rates declined Monday on back of continued strong demand for government securities and the high liquidity environment. The rate of the 91-day paper declined to 0.969 percent, the 182-day to 1.323 percent and the 364-day to 1.542 percent. These… Read More
DILG, DFA may request for budget modification to meet needs
January 25, 2021, 5:59 pm
MANILA – The Department of the Interior and Local Government (DILG) may request for the realignment of its budget to rehire more contact tracers (CTs), Budget and Management Secretary Wendel Avisado said Monday. “Modification lang po kailangan nyan. Sandali lang po yan. Di na po aakyat sa… Read More
Oil price rollback set this week
January 25, 2021, 5:39 pm
MANILA – After three consecutive weeks of increases, oil prices will go down effective Tuesday. In separate advisories, Chevron, Cleanfuel, Petro Gazz, Petron, Phoenix Petroleum, PTT Philippines, Seaoil, Shell, Total, and Unioil said they will slash gasoline prices by PHP0.15 per liter and… Read More
DTI enjoins NCR mayors to adopt easing of age restrictions
January 25, 2021, 4:53 pm
MANILA – Trade Secretary Ramon Lopez has enjoined Metro Manila mayors to adopt the recent resolution of the Inter-Agency Task Force for the Management of Emerging Infectious Diseases (IATF) to relax age restrictions. During the regular virtual press briefing of Presidential Spokesperson Harry… Read More
Dominguez sees gov’t hitting revenue goals by last quarter
January 25, 2021, 4:48 pm
MANILA – Finance Secretary Carlos Dominguez III expects the government to hit its revenue targets starting in the last quarter of the year as the economy recovers from the pandemic and tax administration improves. In an interview over CNBC television Monday, Dominguez said the domestic… Read More
BOC achieves 2020 goal to fully automate frontline transactions
January 24, 2021, 1:36 pm
MANILA – The Bureau of Customs (BOC) recorded significant strides in its priority goals for 2020, topped by the full automation of its frontline transactions and a 100-percent accomplishment rate on its target to modernize the agency’s risk management processes despite the operational… Read More
AboitizPower increases power supply to NEECO II Area 1
January 23, 2021, 11:08 am
MANILA – AP Renewables, Inc. (APRI), a unit of AboitizPower, has increased its power supply to Nueva Ecija II Electric Cooperative (NEECO II) Area 1 as they renewed their deal for five years. APRI will supply 41 megawatts (MW) of power to the 10 municipalities within the franchise area of… Read More
PH output back to pre-pandemic levels by 2022: economist
January 23, 2021, 9:44 am
MANILA – The Philippines’ pre-pandemic level expansion is seen to return by 2022, an economist said, noting that the government’s 2021 spending on infrastructure, among others, is key to economic recovery. In a virtual briefing Friday, Chidu Narayanan, Standard Chartered Bank economist for… Read More
