Business
Globe to speed up cell site works in 24 areas
December 22, 2020, 7:05 pm
MANILA – Globe Telecom on Tuesday lauded several local government units (LGU) for their one-stop permit shops, allowing the company to fast-track its improvement of services in underserved locations. In a statement, Globe said these LGUs are in Palawan, Nueva Ecija, Negros Oriental, Oriental… Read More
PLDT, Smart secure ‘record’ permits in 2nd half of 2020
December 22, 2020, 5:16 pm
MANILA – PLDT and its wireless subsidiary Smart have secured a record number of permits to build and upgrade cell sites in the second half of 2020 following the signing of the Anti-Red Tape Authority’s (ARTA) Joint Memorandum Circular (JMC) on streamlining permits for common towers. In a… Read More
Firms to hike oil prices ahead of Christmas
December 21, 2020, 4:17 pm
MANILA – Motorists will have to pay more for fuel ahead of the Christmas holidays. Starting Tuesday morning, gasoline prices will increase by PHP0.75 per liter, while diesel prices will go up by PH0.85 per liter. The announcement came from oil players, such as Cleanfuel, Petro Gazz, Seaoil,… Read More
Mister Donut offers 90-day business trial franchise package
December 19, 2020, 4:33 pm
MANILA – Mister Donut has launched a franchising scheme that gives franchisees a 90-day trial to test if their store locations will be profitable or not. Mister Donut’s “Business Trial Package” only entails a cash outlay of as low as PHP100,000. The amount covers the rental of the… Read More
Premyo bonds 2 sale hits P6.56-B
December 18, 2020, 7:07 pm
MANILA – Availments for the second issuance of Premyo bonds have reached PHP6.56 billion, surpassing both the target and last year's sale. In her speech during the last quarterly draw for the initial Premyo bond, National Treasurer Rosalia de Leon said gains from the second issuance… Read More
Oil prices down over weak demand fears
December 18, 2020, 6:50 pm
ANKARA – Oil prices fell slightly on Friday over demand fears caused by rising coronavirus disease 2019 cases after Brent settled above USD51 for the first time since March on vaccine optimism. International benchmark Brent crude was trading at USD51.23 per barrel at 0716 GMT for a 0.52 percent… Read More
SMC not interested in getting any share of revenues from NAIA
December 18, 2020, 5:23 pm
MANILA – San Miguel Corporation (SMC) has clarified it is not interested in getting any share of revenues generated by the Ninoy Aquino International Airport (NAIA), adding its proposal is purely for the operations and maintenance of the airport is to ensure it operates better and more… Read More
Stocks index slips again; peso stays firm vs. dollar
December 18, 2020, 5:20 pm
MANILA – The Philippine Stock Exchange index (PSEi) slipped anew Friday as investors preferred safe haven but the peso managed to end sideways against the US dollar. The main equities index shed 0.35 percent, or 25.22 points, to 7,272.80 points. All Shares moved sideways after it slipped by… Read More
BSP's 28-day securities rate declines
December 18, 2020, 5:06 pm
MANILA – Domestic liquidity remains in the system as shown on Friday’s auction for the Bangko Sentral ng Pilipinas’ (BSP) 28-day securities resulting in the drop in rates of the debt paper. Average rate of the debt paper declined further after it fell by 0.838 basis points to 1.6837… Read More
Measures to improve MSMEs' access to finance identified
December 18, 2020, 4:26 pm
MANILA – A supply chain finance (SCF) is being considered by the Bangko Sentral ng Pilipinas (BSP) to help micro, small and medium enterprises (MSMEs) secure financing from banks. In a virtual briefing Friday, BSP Governor Benjamin Diokno said the SCF will allow lenders to use MSMEs’… Read More
Diokno favors proposed hike in PERA investments cap
December 18, 2020, 4:11 pm
MANILA – Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno supports suggestions to raise the ceiling for Personal Equity and Retirement Account (PERA) investments, citing its benefits to Filipinos in the long run. In a virtual briefing Friday, Diokno said PERA Law was enacted 12 years… Read More
Peso seen to strengthen further in 2021
December 18, 2020, 1:48 pm
MANILA – Strong domestic fundamentals, along with the gradual reopening of the domestic economy and the continued build-up of foreign reserves, are expected to further boost the Philippine peso’s strength. In a briefing Friday, BSP Governor Benjamin Diokno said the peso continues to show… Read More
Reduction in BSP rates possible in Q1 '21: reports
December 18, 2020, 1:42 pm
MANILA – ANZ Research forecasts a further reduction of 25 basis points in the Bangko Sentral ng Pilipinas’ (BSP) key policy rates in the first quarter next year as the economic recovery continues to face challenges. In a report dated Dec.17, the markets and economic research provider said the… Read More
Oil prices hit 9-month high over US stocks drop
December 18, 2020, 1:38 pm
ANKARA – Crude oil prices hit nine-month highs on Thursday, fueled by a drop in US crude stocks and renewed hopes of a US coronavirus relief package. International benchmark Brent crude was trading at USD51.65 per barrel at 0638 GMT for a 1.12 percent decrease after closing Wednesday at… Read More
BSP keeps key rates steady
December 17, 2020, 8:16 pm
MANILA – Benign inflation environment and optimism on the delivery of coronavirus disease (Covid-19) vaccines provided a leeway for the policy-making Monetary Board (MB) to keep the Bangko Sentral ng Pilipinas (BSP) key rates steady Thursday. This kept the BSP’s overnight reverse repurchase… Read More
PH peso, stocks move sideways
December 17, 2020, 8:14 pm
MANILA – Both the Philippine peso and the Philippine Stock Exchange index (PSEi) ended Thursday almost unchanged partly on Congress’ approval of the Financial Institutions Strategic Transfer (FIST) measure. The local currency ended the day’s trade at 48.045 to a US dollar, barely changed… Read More
Gov’t recalibrates list of infra projects
December 17, 2020, 5:29 pm
MANILA – The National Economic Development Authority (NEDA) is updating the list of approved infrastructure projects given the impact of the pandemic and the recent typhoons. During a virtual briefing Thursday, NEDA Undersecretary Jonathan Uy said they aim to release the new list by the end of… Read More
NEDA sees gradual PH growth in Q4 ’20
December 17, 2020, 3:41 pm
MANILA – Continued easing of quarantine restrictions is seen to result in a smaller growth contraction in the last quarter of this year and this is projected to pave the way for a positive output starting in the first quarter of 2021. In a virtual briefing Thursday, Acting Socioeconomic Planning… Read More
Landbank extends P230-B loans to agri sector
December 16, 2020, 8:50 pm
MANILA – The Land Bank of the Philippines (Landbank) has extended to the agriculture sector as of October this year a total of PHP230.23 billion in loans, which make up 94 percent of its target of PHP245 billion for 2020. A report to Finance Secretary Carlos Dominguez III also showed that… Read More
Path to Brexit trade deal exists: EU
December 16, 2020, 8:43 pm
LONDON – There is a "path to an agreement now,” the European Union Commission president said Wednesday, renewing hope in a possible post-Brexit trade deal between the United Kingdom and EU before the transition period ends. Ursula von der Leyen said she could still not guarantee "whether… Read More
