Business
November car sales down due to typhoons
December 16, 2020, 8:22 pm
MANILA – The Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) attributed the decline in month-on-month sales in November to the typhoons that hit Luzon in the previous month. CAMPI and Truck Manufacturers Association (TMA) reported Wednesday the automotive vehicle sales… Read More
WEF pauses ranking of countries in Global Competitiveness Report
December 16, 2020, 8:18 pm
MANILA – The World Economic Forum (WEF) has paused the ranking of countries for this year’s special edition of the Global Competitiveness Report amid the coronavirus disease 2019 (Covid-19) pandemic. During the virtual launching of the report and media briefing Wednesday, WEF managing… Read More
ADB to scale up support for PH infra, health, job recovery
December 16, 2020, 8:13 pm
MANILA – The Asian Development Bank’s (ADB) sovereign lending to the Philippines is expected to reach USD9.4 billion between 2021 and 2023, with at least two-thirds going into infrastructure, health, and employment recovery to help the government revitalize the economy amid the coronavirus… Read More
BSP term deposit facility rates dip anew
December 16, 2020, 7:15 pm
MANILA – The rate of the Bangko Sentral ng Pilipinas’ (BSP) term deposit facility (TDF) dipped further as preference ahead of the holidays went for the shorter-dated facility. Data released by the central bank showed that the average rate of the seven-day TDF declined to 1.7046 percent, and… Read More
Cybersecurity expert cites importance of 5G tech
December 16, 2020, 6:43 pm
MANILA – Critical industries like hospitals and manufacturing firms will benefit from the shift toward the fifth-generation wireless (5G) technology that is why mobile operators gear up to introduce it around 2021, an expert said on Wednesday. In a virtual briefing, Palo Alto Networks Country… Read More
Stocks index regains footing; peso ends sideways vs. dollar
December 16, 2020, 6:39 pm
MANILA – The Philippine Stock Exchange index (PSEi) recovered Wednesday while the peso ended the day sideways on continued volatility given the pandemic. The main equities index rose by 1 percent, or 71.97 points, to 7,299.70 points. All Shares jumped by 0.68 percent, or 29.44 points, to… Read More
MSMEs in Angeles City to showcase their products at Clark mall
December 16, 2020, 1:54 pm
ANGELES CITY, Pampanga – Micro, small and medium enterprises (MSMEs) in this city will have an opportunity to showcase their products this yuletide season. The city government here will stage an exhibit at the SM City Clark to put on display the MSMEs’ products at the One Town One Product… Read More
DTI launches nat’l trade fair digital mall
December 15, 2020, 8:46 pm
MANILA – In lieu of the usual national trade fair (NTF) organized annually, the Department of Trade and Industry-Bureau of Domestic Trade Promotion (DTI-BDTP) has launched the NTF digital mall to address the challenges of micro, small, and medium enterprises (MSMEs) amid coronavirus disease 2019… Read More
7-year T-bond rate slides
December 15, 2020, 7:07 pm
MANILA – The rate of the Philippines' seven-year Treasury bond (T-bond) declined Tuesday partly on the continued drop of the domestic interest rate. The average rate of the debt paper slipped to 2.791 percent from its original coupon rate of 4.750 percent. The Bureau of the Treasury (BTr)… Read More
IT-BPM sector takes up POGO-vacated office spaces
December 15, 2020, 6:51 pm
MANILA – Increased demand from the information technology-business process management (IT-BPM) sector took up office spaces vacated by Philippine Offshore Gaming Operators (POGO) since the second quarter this year, boosting opportunities for the real property sector amid the pandemic. In a… Read More
Legazpi bags DICT's Government Internal Process top award
December 15, 2020, 6:40 pm
LEGAZPI CITY – Due to its best practices in business transactions, Legazpi City bagged this year the top plum in the Digital Governance Award (DGA) 2020 under the Government Internal Process (G2I) category, given by the Department of Information and Communications Technology (DICT). Second… Read More
Stocks slip; peso closes almost unchanged vs. dollar
December 15, 2020, 6:17 pm
MANILA – Concerns on the stimulus measures being discussed in the US along with coronavirus disease 2019 (Covid-19) vaccine distribution ended Philippine Stock Exchange index's (PSEi) three-day rally but the peso ended sideways against the greenback. The main equities index shed 0.74 percent,… Read More
DTI to support displaced workers, OFWs in opening biz
December 15, 2020, 5:17 pm
MANILA – The Department of Trade and Industry (DTI) stands ready to support displaced and retrenched workers amid the Coronavirus disease 2019 (Covid-19) pandemic in their entrepreneurial journey, DTI Secretary Ramon Lopez said. During the Building and Entrepreneurial Society of tomorrow or… Read More
SMC taps global firm for Bulacan airport project preparation
December 15, 2020, 3:04 pm
MANILA – San Miguel Corporation’s (SMC) PHP740-billion “game-changing” Manila International Airport project in Bulacan is set to take off in the first quarter of 2021, after it awarded global firm Boskalis a USD1.73-billion contract to restore land at what will be the largest and most… Read More
BIR collects P582-M from 196 padlocked establishments
December 15, 2020, 2:48 pm
MANILA – The Bureau of Internal Revenue (BIR) collected a total of PHP582.5 million in taxes from January to November this year from 196 commercial establishments that were padlocked earlier for failing to either register or pay the correct amount of taxes. BIR Deputy Commissioner Arnel… Read More
CVC Capital invests P6-B in Fast Group for logistics expansion
December 15, 2020, 2:42 pm
MANILA – Leading private equity firm CVC Capital Partners is investing PHP6 billion in Fast Group Philippines that is set to expand its logistics operations in the country. “We are committing up to PHP6 billion for this investment for a 40-percent stake. And what’s interesting to know is… Read More
Better BARMM investments seen with Cotabato City’s inclusion
December 15, 2020, 9:52 am
COTABATO CITY – Investment officials in the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) are optimistic that the formal inclusion of Cotabato City to the BARMM will boost the region’s investment prospects. Lawyer Ishak Mastura, chair of Regional Board of Investments (RBOI), said… Read More
SEC alerts Bicolanos on firm's illegal biz activities
December 14, 2020, 8:26 pm
LEGAZPI CITY – The Securities and Exchange Commission (SEC) in Bicol alerted the public on Monday against a company that does not have the license to legally engage in investment solicitations. Glorei Allelu Lindio, SEC-Legazpi Extension Office spokesperson, in an interview, bared the alleged… Read More
T-bills rise on expectations BSP won’t change key rates
December 14, 2020, 7:46 pm
MANILA – The rates of three and six-month Treasury bills (T-bills) rose Monday partly on expectations of unchanged Bangko Sentral ng Pilipinas’ (BSP) key rates during the meeting of the Monetary Board (MB) this week. The average rate of the 91-day paper rose to 1.022 percent and the 182-day… Read More
SEC scores legal victory vs. perpetrators of investment scam
December 14, 2020, 7:18 pm
MANILA – The Securities and Exchange Commission (SEC) scored a legal victory over perpetrators of an investment scam after a Quezon City regional trial court fined three persons a total of PHP2 million for illegally soliciting investments from the public. In a decision dated Nov. 27, 2020, the… Read More
