Business
2020 car sales down 39.5%
January 14, 2021, 4:40 pm
MANILA – Sales of local vehicle assemblers declined by 39.5 percent for the full year of 2020, the joint report of Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association (TMA) showed. Vehicle sales of CAMPI and TMA last year dropped to 223,793… Read More
Economist eyes 25 bps cut in BSP rates this quarter
January 14, 2021, 3:50 pm
MANILA – An economist forecasts another 25 basis points cut in Bangko Sentral ng Pilipinas’ (BSP) key rates either in February or March as part of the central bank’s bid to help in the economy’s recovery. “As soon as the fourth-quarter GDP (gross domestic product) comes out, which is… Read More
PEZA approves P95-B investments in 2020
January 14, 2021, 1:49 pm
MANILA – The Philippine Economic Zone Authority (PEZA) announced Thursday it ended 2020 with PHP95.03 billion worth of investment approvals, a decline of 18 percent from PHP117.5-billion projects approved the previous year. Some 326 projects got PEZA Board’s nod last year, of which 217… Read More
BSP, BCDA ink deal for central bank facility in New Clark City
January 13, 2021, 7:52 pm
MANILA – Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno is looking at further boosting the central bank’s delivery of its mandate once it opens a facility in Central Luzon. In his speech during the signing of the lease contract between the BSP and the Bases Conversion and… Read More
Competition policy vital to inclusive digital economy
January 13, 2021, 6:24 pm
MANILA – As the coronavirus disease 2019 (Covid-19) pandemic accelerated the digital shifts, competition policy shall remain in place to ensure an inclusive digital economy, Philippine Competition Commission (PCC) chairman Arsenio Balisacan said Wednesday. In a webinar of the Asian Development… Read More
Stocks slip again; peso stays firm vs. dollar
January 13, 2021, 6:07 pm
MANILA – The local stock barometer slipped anew Wednesday due to economic recovery concerns while the peso continued its firm footing against the US dollar. The Philippine Stock Exchange index (PSEi) shed 0.21 percent, or 15.26 points, to 7,242.85 points. All Shares ended the day sideways… Read More
SEC warns public vs. investing in Masa Mart
January 13, 2021, 5:28 pm
MANILA – The Securities and Exchange Commission (SEC) has cautioned the public about Masa Mart Business Center (MMBC), which has been posing as a multilevel marketing program to entice the public into its unauthorized investment schemes. In an advisory dated Jan. 12, the Commission urged the… Read More
TDF rates decline anew as demand remains strong
January 13, 2021, 5:06 pm
MANILA – Interest rates of the Bangko Sentral ng Pilipinas’ (BSP) term deposit facility (TDF) slipped anew Wednesday due to strong demand. Data released by the central bank showed the average rate of the seven-day TDF went down to 1.6470 percent from 1.6735 percent during the auction last… Read More
DOE, USAID partner to promote private investments in energy
January 13, 2021, 4:39 pm
MANILA – The Department of Energy (DOE) and the United States Agency for International Development (USAID) have partnered to increase private investments in advanced energy technology to ensure energy security in the country. The DOE and USAID kicked off Wednesday the three-day Energy Secure… Read More
DOF exec cites need for review of PH food programs
January 13, 2021, 4:18 pm
MANILA – The government’s food programs need some enhancement to address any weather-related supply constraints that results in price upticks, a Department of Finance (DOF) official said. In an economic bulletin, DOF Undersecretary Gil Beltran cited further acceleration of domestic inflation… Read More
Oil prices up over higher US pandemic relief plan
January 12, 2021, 8:44 pm
ANKARA – Oil prices showed a limited rise on Tuesday as the new US Administration pledges a higher pandemic relief plan, although the global rise in coronavirus cases and ongoing mitigation efforts are fueling oil demand concerns. International benchmark Brent crude was trading at USD55.89… Read More
Cebu City top provincial property hotspot in 2020
January 12, 2021, 8:41 pm
CEBU CITY – Cebu City remained the top property hotspot outside of Metro Manila last year, property finder Lamudi said in its latest report. Among the major cities outside the capital, property seekers looked mostly in Cebu City to rent and buy properties. In its report "Hotspots Unwrapped:… Read More
Retired PNP general appointed as Clark Dev't Corp. prexy
January 12, 2021, 8:19 pm
CLARK FREEPORT, Pampanga – Retired Brig. Gen. Manuel Gaerlan was appointed as the new president and chief executive officer of Clark Development Corporation (CDC). A letter addressed to the members of the CDC Board of Directors (BOD) on Tuesday said Gaerlan’s appointment was signed by… Read More
Stocks index slips; peso almost unchanged
January 12, 2021, 8:02 pm
MANILA – The Philippine Stock Exchange index (PSEi) ended Tuesday on the negative territory while the peso sustained its sideways close against the greenback. After a three-day rally, the main stocks index shed 0.64 percent, or 46.68 points, to 7,258.11 points. All the other counters tracked… Read More
Covid-19 vaccine funds enough for qualified Filipinos: DOF chief
January 12, 2021, 7:44 pm
MANILA – Department of Finance (DOF) Secretary Carlos Dominguez III said the close to PHP75-billion budget for coronavirus disease (Covid-19) vaccine acquisition is enough to inoculate the majority of Filipinos that are qualified for the shot. "Now, PHP75 billion pesos and I figure that a… Read More
UAE remains attractive market for PH produce, goods
January 12, 2021, 6:37 pm
MANILA – The United Arab Emirates (UAE) remains an attractive market for Philippine produce and goods as food exports to the Middle East country remained steady in 2020 amid the pandemic, the Philippine Trade and Investment Center (PTIC) in Dubai said. In a statement Tuesday, PTIC-Dubai… Read More
Dominguez sets PH's contingent liabilities review this year
January 12, 2021, 6:10 pm
MANILA – Finance Secretary Carlos Dominguez III will look into government’s contingent liabilities this year to ensure all their decisions will be based on facts. “This year, I’ve made it my project to look at all our contingent liabilities. One is PPP (public-private partnership). I’m… Read More
205 IPs benefit from energy-related training program in Mimaropa
January 12, 2021, 5:30 pm
MANILA – Some 205 indigenous people (IP) have benefitted from an energy-related training program conducted in Mimaropa, Energy Secretary Alfonso Cusi, the assigned Cabinet Officer for Regional Development and Security (CORDS) for the region said Tuesday. In a statement, Cusi said the Sanayang… Read More
Ford shuts all plants in Brazil
January 12, 2021, 4:57 pm
SAO PAULO, Brazil – Ford Motor Co. announced Monday it is closing all its factories in Brazil, bringing its more than 100-year history in the country to a close. In a press release, the company said a drop in sales, the coronavirus disease 2019 (Covid-19) pandemic, and the rise of the US… Read More
Firm offers mobile container solutions for Covid-19 vaccine
January 12, 2021, 4:53 pm
MANILA – As the government prepares to roll out the coronavirus disease 2019 (Covid-19) vaccine program this year, Mecotec GmbH and Deutsche Motorgeräte Inc. (DMI) offers a unique cold storage solution in the country which will be available in the first quarter of this year. Mecotec’s MCF8… Read More
