Business
PH stocks gauge rises; peso ends sideways vs. USD
December 10, 2020, 6:01 pm
MANILA – The Philippine Stock Exchange index (PSEi) rose Thursday on hopes for new stimulus measures in the United States and the peso ended sideways against the US dollar. The main equities gauge increased by 0.73 percent, or 51.77 points, to 7,154.43 points. All Shares jumped by 0.42 percent,… Read More
Investments in PEZA zones reach P3.9-T in 25 years
December 10, 2020, 5:38 pm
MANILA – The Philippine Economic Zone Authority (PEZA) has approved a total of PHP3.9 trillion worth of investments for the past 25 years as of November 2020. During the PEZA's silver anniversary celebration and Investors' Recognition Day Thursday, PEZA Director General Charito Plaza said these… Read More
No expiration for GCs
December 10, 2020, 3:44 pm
MANILA – Consumer advocacy group Laban Konsyumer, Inc. (LKI) is reminding the public that gift checks, gift certificates, and gift cards (GCs) have no expiry dates. Citing Republic Act No.10962 or the Gift Check Act of 2017, LKI president Victorio Mario Dimagiba said issuing GCs bearing an… Read More
Enacting CREATE into law to help PH economy recover
December 10, 2020, 8:31 am
MANILA – Trade officials believe that the enactment of the CREATE bill into law will usher the country’s economic recovery next year. Department of Trade and Industry (DTI) Secretary Ramon Lopez said that as the government will continue to implement its recovery plan next year, signing the… Read More
Oil prices to remain at $40-50 range in Q1 2021: experts
December 9, 2020, 8:31 pm
ANKARA – Although the OPEC+ group's decision last week to increase crude oil production by about 500,000 barrels per day (bpd) every month starting from January is contrary to market expectations, it will keep oil prices in a range between USD40 and USD50 in the first quarter of 2021, experts… Read More
Jollibee further expands in Europe with 3rd branch in UK
December 9, 2020, 8:27 pm
MANILA – Homegrown restaurant chain Jollibee Foods Corp. (JFC) continues with its United Kingdom (UK) expansion with its third store in Leicester City. Dennis Flores, president of JFC Europe, Middle East, Asia, and Australia, said 40 percent of its customers were already locals from Leicester… Read More
Borrowers urged to coordinate with banks on loan issue
December 9, 2020, 8:22 pm
MANILA – Financial institutions are bracing for the end of the two-month pandemic-related loan payment moratorium this December and borrowers need to coordinate with their banks for any issue on borrowings, a bank executive said Wednesday. In a virtual briefing, Union Bank of the Philippines… Read More
Trade chief assures no missing funds in PITC
December 9, 2020, 8:18 pm
MANILA – Trade Secretary Ramon Lopez has assured lawmakers in the House of Representatives that there are no missing government funds in the Philippine International Trading Corp. (PITC), an attached agency of the Department of Trade and Industry (DTI). During the lower house’s Committee on… Read More
Term deposit facility rates slide despite strong demand
December 9, 2020, 6:53 pm
MANILA – The rates of the Bangko Sentral ng Pilipinas’ (BSP) term deposit facility (TDF) fell Wednesday amidst the strong demand. Data released by the central bank showed an average rate of 1.7218 percent for the seven-day facility, down from 1.7292 percent during the auction last Dec.… Read More
Economic recovery plan step in right direction: DTI chief
December 9, 2020, 6:14 pm
MANILA – Department of Trade and Industry (DTI) Secretary Ramon Lopez believes the government is in the right direction with its economic recovery plan, which it will continue to roll out next year. During the first Economic Development Cluster briefing of the Presidential Communications… Read More
PH has more than enough supply of VCO to meet rising demand
December 9, 2020, 6:09 pm
MANILA – The Philippine coconut industry has more than enough untapped capacity to meet the anticipated growth in demand for virgin coconut oil (VCO) which has shown to prevent the progression or severity of the coronavirus disease 2019 (Covid-19), according to industry players. The United… Read More
Stocks gauge slips; peso ends flat vs. dollar
December 9, 2020, 6:03 pm
MANILA – The Philippine Stock Exchange index (PSEi) shed Wednesday but the peso managed to stay strong and ended sideways against the US dollar. The main equities index lost 1.40 percent, or 101.01 points, to 7,102.66 points. All Shares declined by 0.77 percent, or 32.92 points, to 4,253.13… Read More
Gov’t to roll out ‘safety seal’ on biz establishments by Q1 2021
December 9, 2020, 5:21 pm
MANILA – The government will roll out a Safety Seal Certification Program in business establishments in the early first quarter of 2021, Cabinet Secretary Karlo Alexei Nograles said Wednesday. Nograles said the ‘Safety Seal’ will serve as a proof that a certain establishment is complying… Read More
Century Pacific gears up for major expansion of coconut business
December 9, 2020, 1:55 pm
MANILA – Century Pacific Food, Inc. (CNPF), one of the country’s leading food companies, has agreed to extend and expand its long-term agreement as original equipment manufacturer (OEM) for Vita Coco, the world’s leading coconut water brand, as it gears up for a major expansion of its… Read More
Singapore to host World Economic Forum 2021
December 9, 2020, 1:43 pm
ANKARA – Singapore will host the World Economic Forum next year in view of the coronavirus disease 2019 (Covid-19) pandemic in Europe. The global meeting of top decision-makers is set to take place from May 13 to 16, Singapore’s Trade and Industry Minister Chan Chun Sing said in a statement… Read More
Oil prices down due to Covid-19 containment measures
December 8, 2020, 7:20 pm
ANKARA – Oil prices were down on Tuesday due to recent coronavirus disease 2019 (Covid-19) containment measures that are negatively affecting sentiments of a prompt oil demand recovery. International benchmark Brent crude was trading at USD48.39 per barrel at 0638 GMT for a 0.82-percent decline… Read More
Fitch Ratings eyes sustained accommodative policy stance in PH
December 8, 2020, 3:57 pm
MANILA – Fitch Ratings continues to see an accommodative monetary policy stance in the Philippines due to a benign inflation environment, which bodes well for the projected economic recovery next year. In its 2021 Outlook for Asia Pacific report dated Dec. 8, the debt rater said absence of… Read More
PH economy to shrink in 2020; recover in next 2 years: WB
December 8, 2020, 2:13 pm
MANILA – The multiple shocks that hit the Philippines, including the coronavirus health crisis, will likely shrink the economy by 8.1 percent this year, but sustained improvements in managing the pandemic and a possible rebound in the global economy can help the country recover in 2021 and… Read More
DOE-Visayas taps millennials for info-drive on energy dev’t
December 7, 2020, 8:59 pm
CEBU CITY – Looking at future players in the country's sustainable energy sector, the millennials will have a key role in celebrating the Department of Energy's (DOE) 48th anniversary this December, an official said. Lou Artiaga, DOE-Visayas Energy Resource Development Utilization Division… Read More
Airline exec sees 'Covid-19 immunity passport' essential
December 7, 2020, 8:45 pm
MANILA – Budget carrier Cebu Pacific (CEB) president and chief executive officer Lance Gokongwei on Monday said he believes a Covid-19 immunity passport is essential, especially as the country opens up international travel. In a briefing with Presidential Spokesperson Harry Roque, Gokongwei… Read More
