Business
Studies identify 3 niche products for PH exporters in EFTA
December 14, 2020, 6:59 pm
MANILA – The Swiss Import Promotion Programme (SIPPO) has launched its studies on Philippine products with big market potential in European Free Trade Association (EFTA) countries — Iceland, Liechtenstein, Norway, and Switzerland. Local agricultural products with export opportunities in EFTA… Read More
Stocks rise; peso ends flat vs. dollar
December 14, 2020, 6:55 pm
MANILA – The Philippine Stock Exchange index (PSEi) rose Monday while the peso ended the day sideways against the US dollar partly on hopes for the stimulus program in the US. The main equities index inched up by 0.49 percent, or 35.19 points, to 7,281.35 points. All Shares increased by 0.46… Read More
Metro Cebu’s competitiveness strong despite Covid-19: global firm
December 14, 2020, 4:29 pm
CEBU CITY – A global property consultancy firm said competitiveness and availability of business parks and manpower quality remain strong in Metro Cebu despite turbulent periods caused by the pandemic. Joey Bondoc, senior research manager at Colliers Philippines, noted the higher vacancy and… Read More
Diesel, kerosene prices up for 6 straight weeks
December 14, 2020, 3:36 pm
MANILA – Oil firms will adjust their prices on Tuesday, increasing diesel and kerosene prices for six consecutive weeks and gasoline prices for three straight weeks. Companies such as Cleanfuel, Petro Gazz, Seaoil, and Shell announced they will raise diesel by PHP0.50 per liter, and PHP0.60 per… Read More
Use of online delivery platform for agri products pushed
December 14, 2020, 2:59 pm
MANILA – Farmers and micro, small and medium enterprises (MSMEs) are urged to get on board with Deliver-E, an integrated end-to-end e-commerce platform for agricultural and food products. The Department of Trade and Industry (DTI) officially launched Monday the platform in partnership with the… Read More
Indonesian firm exports 1st 3 locomotives to PH
December 13, 2020, 2:15 pm
SURABAYA, E Java – State-owned train manufacturer PT INKA for the first time shipped three locomotives and 15 cars to the Philippines via the Tanjung Perak port in East Java on Saturday. "The export of locomotives produced by Indonesian sons is the first of its kind," PT INKA president director… Read More
Petron workers seek LGU’s ‘intervention’ to stop closure
December 13, 2020, 12:13 pm
LIMAY, Bataan – Workers of the Petron refinery here have appealed to the local government unit (LGU) to help prevent the reported shutting down next month of the country’s biggest and only remaining oil plant. Thom de Villa, refinery shift superintendent, on Saturday said they are seeking the… Read More
Globe eyes building 2,000 new cell sites in 2021
December 11, 2020, 8:08 pm
MANILA – Globe Telecom, Inc. (Globe) is planning to expand and improve its mobile network next year by building “at least” 2,000 new cell sites. In a statement on Friday, Gil Genio, Globe chief technology and information officer, said the company is targeting to install the greatest number… Read More
$9-B ADB facility to help members access, distribute vaccines
December 11, 2020, 8:00 pm
MANILA – The Asian Development Bank (ADB) has launched a USD9-billion vaccine initiative --the Asia Pacific Vaccine Access Facility (APVAX)-- offering rapid and equitable support to its developing members as they procure and deliver effective and safe coronavirus disease 2019 (Covid-19)… Read More
SEC clears NHMFC’s securitization plan
December 11, 2020, 7:50 pm
MANILA – The Securities and Exchange Commission (SEC) has favorably considered the securitization plan of National Home Mortgage Finance Corporation (NHMFC), covering PHP319.32 million of its residential loan portfolio. In its Dec. 10 meeting, the Commission en banc approved the secondary… Read More
Total mineral product export earnings rise
December 11, 2020, 7:31 pm
MANILA – January-October free-on-board receipts from Philippine outbound shipments of mineral products collectively surpassed the corresponding total in 2019, partly fueled by the nearly 1,193 percent increase in 2020 export earnings of iron ore agglomerates. The country's mineral product… Read More
Stocks rise; peso almost unchanged
December 11, 2020, 7:11 pm
MANILA – Investors’ optimism reigned in the equities market Friday, resulting in the positive close of all the counters while the peso ended sideways against the US dollar. The Philippine Stock Exchange index (PSEi) rose 1.28 percent, or 91.73 points, to 7,246.16 points. All Shares increased… Read More
BSP hikes '20 BOP, GIR forecasts
December 11, 2020, 6:54 pm
MANILA – Philippine monetary officials raised their balance of payment (BOP) surplus forecast for 2020 partly due to the government’s increased foreign borrowings, but they slashed the 2021 projection. The latest BOP projection for this year, as approved by the central bank’s policy-making… Read More
PH, EU eye trade dialogues next year
December 11, 2020, 5:34 pm
MANILA – The Philippines and the European Union (EU) are eyeing to hold at least two trade dialogues in 2021, affirming the strong economic partnership of the two parties. In a statement Friday, the Department of Trade and Industry (DTI) said Secretary Ramon Lopez met virtually with European… Read More
BSP securities rate falls anew
December 11, 2020, 5:28 pm
MANILA – Strong demand for the Bangko Sentral ng Pilipinas’ (BSP) 28-day securities resulted in another drop of its rates Friday. The rate of the debt paper slipped further to 1.6921 percent from 1.6985 percent last week. The BSP offered the paper for PHP80 billion and tenders reached… Read More
Lima Land expansion to add 20K jobs in Calabarzon
December 11, 2020, 4:42 pm
MANILA – Aboitiz Group’s Lima Land Inc. projects its expansion project in Lima Estate in Batangas will generate 20,000 new jobs in Cavite, Laguna, Batangas, Rizal, and Quezon (Calabarzon) area. In a statement, Lima Land said it will develop 100 hectares of its existing 700-hectare property in… Read More
Forest product Oct. exports receipts up
December 11, 2020, 3:17 pm
MANILA – October receipts from Philippine forest product exports exceeded this year what these outbound shipments generated during the same month in 2019. Such exports' 2020 free-on-board (FOB) receipts totaled USD36.83 million, reflecting a 22.9 percent increase from last year's USD29.96… Read More
Oil prices up over bullish sentiment on vaccines
December 11, 2020, 1:29 pm
ANKARA – Crude oil prices increased on Thursday on bullish sentiments over the coronavirus disease 2019 (Covid-19) vaccine, as the UK has already started shots and the US is awaiting approval, while a massive build in US oil stocks capped further price rises. International benchmark Brent crude… Read More
Bank exec cites need to up Filipino's digital know-how
December 10, 2020, 9:25 pm
MANILA – A bank executive said on Thursday going fully digital is not the best solution right now in addressing customers’ needs, citing the need to educate clients first so that they can fully benefit from technological innovation. In a virtual briefing, Rizal Commercial Banking Corporation… Read More
SLAMCI exec eyes 25 bps cut in BSP rates in '21
December 10, 2020, 9:21 pm
MANILA – An executive of Sun Life Asset Management Company Inc. (SLAMCI) on Thursday projected a 25 basis points reduction in the Bangko Sentral ng Pilipinas’ (BSP) key policy rates in the first quarter of 2021 if the expected economic recovery needs further push. To date, the central bank’s… Read More
