Business
BSP 28-day securities rate down anew
January 22, 2021, 6:26 pm
MANILA – Rate of the Bangko Sentral ng Pilipinas’ (BSP) 28-day bills declined anew Friday, which a ranking monetary official still traced to strong demand and the higher liquidity situation in the domestic economy. Data released by the BSP showed the drop of the debt paper’s average rate to… Read More
PH stocks index slips, peso sustains sideways close vs. US dollar
January 22, 2021, 5:37 pm
MANILA – Optimism at the start of the Biden administration made investors prefer US assets resulting in the negative close of the Philippine Stock Exchange index Friday but the peso sustains its sideways close against the greenback. The main equities index shed 1.32 percent, or 94.46 points, to… Read More
Pinoys urged to buy locally assembled vehicles
January 22, 2021, 4:24 pm
MANILA – Trade Secretary Ramon Lopez on Friday urged Filipinos to patronize locally assembled vehicles to save the local automotive industry. According to the Department of Trade and Industry (DTI), eight vehicle models are being assembled in the country. Locally assembled vehicles include… Read More
Relaxed age restriction in MGCQ areas to stimulate biz: DTI
January 22, 2021, 2:43 pm
MANILA – The government's latest move to further ease age restrictions in areas under modified general community quarantine (MGCQ) would result in increased revenues of businesses particularly the retail sector, the country's top trade official said on Friday. In a radio interview, Department of… Read More
Beverage firm opens new distribution hub in Manila
January 22, 2021, 11:42 am
MANILA – Coca-Cola Beverages Philippines Inc. (CCBPI), the bottling arm of Coca-Cola, has opened its new distribution center in Manila as part of its bullish investment plan in the country for 2021. Inaugurated last Jan.18, the new distribution hub in Manila will serve as a model site for all… Read More
Below 3.2% average inflation seen this year
January 21, 2021, 8:30 pm
MANILA – The possibility of inflation averaging higher than monetary authorities’ projected 3.2 percent is less likely this year given the economic impact of the pandemic, a ranking Bangko Sentral ng Pilipinas (BSP) official said. In a briefing streamed over the BSP’s Facebook page… Read More
Stocks, peso end sideways as Joe Biden sworn in
January 21, 2021, 8:23 pm
MANILA – Both the Philippine Stock Exchange index (PSEi) and the peso ended on Thursday sideways after investors chose safe haven assets following the inauguration of US President Joe Biden as the 46th president. The main equities gauge slipped by 0.04 percent, or 3.01 points, to 7,140.29… Read More
Universal Robina among Vietnam’s top sustainable businesses
January 21, 2021, 7:30 pm
MANILA – A subsidiary of Universal Robina Corp. (URC) has again been named as one of Vietnam’s top sustainable businesses for 2020. URC, one of the Philippines’ largest food and beverage firms, was among 500 companies in Vietnam shortlisted for this award, it said in a statement… Read More
Fintech eyes more partnerships with gov't agencies
January 21, 2021, 6:51 pm
MANILA – More government agencies will be onboarded on Bayad’s line-up as the latter supports the government’s digital payment and transactions bid. This was stressed by Bayad president and chief executive officer (CEO) Lawrence Ferrer during a virtual event for the company’s rebranding… Read More
KIA eyes higher growth, market share as economy recovers
January 21, 2021, 6:22 pm
MANILA – KIA Philippines targets a triple-digit growth and doubling market share as it expects economic recovery this year. “Our objective this year is to go for a minimum of triple-digit growth and at least doubling our market share moving in 2021,” KIA Philippines president Manny Aligada… Read More
BSP execs to respond to Ombudsman case on nat’l ID
January 21, 2021, 5:16 pm
MANILA – The Bangko Sentral ng Pilipinas (BSP) said on Thursday its officials who were included in a complaint before the Office of the Ombudsman regarding the procurement of cards for the Philippine Identification System (PhilSys) will cooperate with its investigation. “As regards the… Read More
Nissan to close plant; DTI cites need to guard auto industry
January 21, 2021, 4:42 pm
MANILA – Department of Trade and Industry (DTI) Secretary Ramon Lopez bared on Thursday that his office received a letter from Nissan Philippines announcing the shutdown of its assembly plant in the country. “The announcement of Nissan to close their assembly operations in the country is… Read More
PCCI opens innovation center
January 21, 2021, 4:34 pm
MANILA – The Philippine Chamber of Commerce and Industry (PCCI) has opened an innovation hub that aims to align skills of local talents to the demand of the technology job market. The PCCI has partnered with Huawei Technologies Philippines, Inc. for the PCCI Innovation Center located in Double… Read More
Filinvest Land to establish REIT company
January 21, 2021, 12:51 pm
MANILA – Filinvest Land, Inc.’s (FLI) board of directors has approved the transition of its wholly-owned subsidiary, Cyberzone Properties, Inc. (CPI), into a Real Estate Investment Trust (REIT) company. “We are looking forward to listing CPI as a REIT company because we believe that this… Read More
EDC revises export targets
January 20, 2021, 8:55 pm
MANILA – The Export Development Council (EDC) on Wednesday has approved the revised targets for exports for 2021 and 2022, Department of Trade and Industry (DTI) Secretary Ramon Lopez said. “We have adjusted the export targets taking into consideration impact of pandemic and weaker global… Read More
HSBC exec sees PH recovery of 6.5% this year
January 20, 2021, 8:52 pm
MANILA – Philippine economy is expected to recover to around 6.5 percent this year which largely depends on the re-opening of the domestic economy and containment of coronavirus disease (Covid-19) infections, an official of HSBC said on Wednesday. This growth forecast is the lower end of the… Read More
SMC extends free toll to medical front-liners on Skyway Stage 3
January 20, 2021, 6:27 pm
MANILA – San Miguel Corporation (SMC) president Ramon Ang said on Tuesday some 10,400 medical front-liners against the Covid-19 pandemic will be allowed to use the newly-opened Skyway 3 for free indefinitely. It is the same way they have been allowed to use all SMC expressways toll-free since… Read More
Diokno leaves hospital ahead of schedule
January 20, 2021, 6:07 pm
MANILA – Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno was discharged from hospital Wednesday, ahead of expectations, after a successful operation following a minor head injury. In a statement, the central bank said Diokno was sent home earlier than expected “amid his steady… Read More
BSP's TDF rates decline anew
January 20, 2021, 6:05 pm
MANILA – The high domestic liquidity situation in the Philippines continues to drive the decline in Bangko Sentral ng Pilipinas’ (BSP) term deposit facility (TDF) rates. Data released by the central bank Wednesday showed the drop of the seven-day TDF rate to 1.6325 percent and the 14-day’s… Read More
PH stocks slip anew as peso ends sideways vs. greenback
January 20, 2021, 4:34 pm
MANILA – Philippine Stock Exchange index (PSEi) slid for the fourth consecutive day Wednesday as investors train their eyes on the news about coronavirus disease (Covid-19) vaccine distribution, among others, while the peso ended sideways against the greenback. The PSEi declined by 0.77… Read More
