Business
Pass economic bills to further open economy: DTI chief
January 16, 2021, 9:09 am
MANILA – The Department of Trade and Industry (DTI) is in favor of further liberalizing the economy but not necessarily through constitutional amendments, Secretary Ramon Lopez said Friday. Lopez said it has been DTI’s principle to support moves to open up the economy and lift restrictions… Read More
Petron to proceed with temporary shutdown of Bataan refinery
January 15, 2021, 8:31 pm
LIMAY, Bataan – Petron Corporation welcomed on Friday the approval of its application as a registered enterprise of the Freeport Area of Bataan but will still go on with its planned temporary shutdown of its Petron Bataan Refinery (PBR) here. The oil giant, in a statement, thanked the… Read More
PH banking system seen to remain strong amid pandemic: Diokno
January 15, 2021, 7:19 pm
MANILA – The country’s banking system is expected to keep its footing amid the pandemic as the domestic financial system remains in a strong position, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said Friday. While the full impact of the pandemic continues to unfold, domestic… Read More
BSP's 28-day bills rate declines
January 15, 2021, 6:49 pm
MANILA – Strong demand for the Bangko Sentral ng Pilipinas’ (BSP) 28-day securities resulted in the drop of its interest rates Friday. Data released by the central bank showed the decline of the debt paper’s average interest rate to 1.6473 percent from 1.6607 percent during the auction last… Read More
BPO sector dominates office space demand in 2020
January 15, 2021, 6:27 pm
MANILA – The business process outsourcing (BPO) had the most number of office space demand in 2020, the Lobien Realty Group said on Friday. In a virtual briefing, chief executive officer Sheila Lobien said the BPO sector has again dominated the demand for office space last year amid the exit of… Read More
PH stocks index slips, peso ends week sideways vs. US dollar
January 15, 2021, 6:24 pm
MANILA – The Philippine Stock Exchange index (PSEi) ended its two-day rally on Friday following reports of the biggest jobless claims in the United States, while the peso ended the day sideways against the greenback. The main equities index shed 0.48 percent, or 34.69 points, to 7,238.46… Read More
DTI asks Central Luzon bizmen to register online
January 15, 2021, 5:49 pm
CITY OF SAN FERNANDO, Pampanga – The Department of Trade and Industry (DTI) Regional Office 3 is asking owners of existing and potential business establishments in Central Luzon to register or renew their business name with the agency through the online platform amid the coronavirus disease 2019… Read More
DTI to consolidate Covid-19 vaccine orders from SMEs
January 15, 2021, 5:09 pm
MANILA – In wake of a growing demand from the private sector to acquire the Covid-19 vaccines, the Department of Trade and Industry (DTI) would consolidate the orders from small and medium enterprises that would like to procure these vaccines. In a Laging Handa briefing on Friday, DTI Secretary… Read More
Remittances' contribution to GDP declining due to strong peso
January 15, 2021, 3:44 pm
MANILA – An economist cited a likely lesser contribution of remittances on the Philippines’ annual output given the continued strengthening of the local currency, which, in turn, translates to lower remittance value in peso terms. In a report Friday, ING Bank Manila senior economist Nicholas… Read More
Biz group presents recommendations to address PH learning woes
January 15, 2021, 2:28 pm
MANILA – A business group has urged the government to implement reforms to address woes in the country's education system. In a virtual briefing Thursday, Philippine Business for Education (PBEd) executive director Love Basillote said problems on access to education and the quality of education… Read More
Clark to focus on economic growth to ease Covid-19 impact
January 15, 2021, 1:42 pm
CLARK FREEPORT, Pampanga – The Clark Development Corp. (CDC) is bent on giving businesses in this economic zone a boost in support of national government efforts to ease the impact of the coronavirus disease 2019 (Covid-19) pandemic. Newly-appointed CDC president Manuel R. Gaerlan, who met with… Read More
Economic recovery, vaccine rollout to fuel PH remittances
January 15, 2021, 10:14 am
MANILA – The continuous demand for Filipino medical workers along with the eventual roll-out of coronavirus disease (Covid-19) vaccines are projected as among the drivers of remittance inflows to the Philippines this year. In a report, Rizal Commercial Banking Corporation (RCBC) chief economist… Read More
Imported vehicle sales drop 40.7% in 2020
January 15, 2021, 8:28 am
MANILA – Sales of imported vehicles recorded a 40.7-percent drop in 2020, selling 51,719 units from 87,169 units sold in 2019. The Association of Vehicle Importers and Distributors (AVID) attributed the decline to the lockdowns, limited economic activity, and weak consumer demand amid the… Read More
PH economy seen rebounding by 5.5%-6.5% in 2021
January 14, 2021, 9:05 pm
MANILA – First Metro Investment Corporation, the investment banking arm of the Metrobank Group, expects the Philippine economy to bounce back into positive territory to 5.5 to 6.5 percent this year, with sustained government spending and the rollout of coronavirus vaccines. “The global… Read More
Davao City hits 2020 target income amid pandemic
January 14, 2021, 8:46 pm
DAVAO CITY – The city government said it has fully achieved its revenue target for 2020 even amid the coronavirus disease 19 (Covid-19) pandemic.In a statement Thursday, the City Information Office quoted acting City Treasurer lawyer Lawrence Bantiding as saying that the city earned a total… Read More
BSP cash advances to NG only temporary: Diokno
January 14, 2021, 8:41 pm
MANILA – The Bangko Sentral ng Pilipinas’ (BSP) provisional advances to the national government (NG) are temporary and are extended to help the government finance pandemic-related expenses. “The provisional advances of the BSP to the national government are a time-bound measure to… Read More
Remittances seen to sustain PH peso's strength
January 14, 2021, 8:20 pm
MANILA – Sustained inflows of remittances from overseas Filipino workers (OFWs) amidst the pandemic is expected to be among the fuels of peso’s continued strength this year. In a report, ING Bank Manila senior economist Nicholas Mapa cited the end-November 2020 cash remittances amounting to… Read More
Stocks recover; peso little changed vs. dollar
January 14, 2021, 6:53 pm
MANILA – After a two-day slide, the local stock barometer recovered while the peso barely moved against the US dollar. The Philippine Stock Exchange index (PSEi) rose by 0.42 percent, or 30.30 points, to 7,273.15 points. All Shares increased by 0.37 percent or 16.01 points to 4,350.94… Read More
Oil prices down over lingering demand concerns
January 14, 2021, 5:48 pm
ANKARA – Oil prices were slightly down on Thursday over lingering demand concerns, as hopes for an economic recovery boosted by the vast vaccine campaigns were put on hold after confusing results about the efficacy of the vaccines. International benchmark Brent crude was trading at USD56.02 per… Read More
AirAsia expands e-commerce platform into PH
January 14, 2021, 5:45 pm
MANILA -- The AirAsia Group on Thursday announced the expansion of its e-commerce platform, AirAsia Shop, into the Philippines. In a virtual presser, Group chief executive officer Tony Fernandes said he does not intend to compete with e-commerce giants Shopee and Lazada, as the AirAsia Shop is… Read More
