Business
Economic managers slash '20 GDP target to -8.5-9.5%
December 4, 2020, 9:19 am
MANILA – Economic managers slashed their 2020 growth forecast for the Philippine economy from -5.5 percent to -8.5 to -9.5 percent given the movement restrictions put in place to address the rise of coronavirus disease (Covid-19) infections. In a briefing Thursday, Budget and Management… Read More
PH stocks index rises anew; peso ends sideways vs. USD
December 3, 2020, 5:39 pm
MANILA – The Philippine Stock Exchange index (PSEi) ended positive on Thursday as investors are all eyes on the proposed US stimulus measure, and the peso ended sideways against the US dollar. The main equities index rose 1.60 percent, or 113.51 points, to 7,194.13 points. All Shares followed… Read More
Unemployment eases to 8.7% in October
December 3, 2020, 5:31 pm
MANILA – The country's unemployment rate has eased to single-digit in October, coming from a high of 17.7 percent in April and 10 percent in July. The Philippine Statistics Authority (PSA) reported Thursday that the number of unemployed Filipinos in October slowed down to 8.7 percent, a sign of… Read More
Firms urged to digitize logistics to improve goods' retail cost
December 3, 2020, 3:28 pm
MANILA – The cost of goods in the Philippines would be lower should companies incorporate digital technology in the supply chain, a business group said Thursday. At the virtual National Export Congress 2020, Supply Chain Management Association of the Philippines president-elect Pierre Carlo… Read More
DTI optimistic to meet $122-B exports target by 2022
December 3, 2020, 1:41 pm
MANILA – The Department of Trade and Industry (DTI) remains confident that the country would reach the low-end export revenues target of USD122 billion by 2022. Speaking at the virtual National Export Congress on Thursday, DTI Undersecretary for Special Concerns and Trade Promotions Group… Read More
BSP's term deposit facility rates drop
December 3, 2020, 9:49 am
MANILA – The rates of the Bangko Sentral ng Pilipinas’ (BSP) term deposit facility (TDF) declined Wednesday amidst oversubscription ahead of the holidays. Data released by the central bank showed that the rate of the seven-day facility declined to 1.7292 percent and the rate of the 14-day… Read More
BSP chief cites need to help MSMEs bounce from pandemic
December 3, 2020, 9:46 am
MANILA – More assistance are being extended to micro, small, and medium enterprises (MSMEs) since the sector accounts for more than 95 percent of total firms in the country. Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno, in his speech during the launch of the Citi… Read More
Pru Life UK offers group insurance sale via mobile app
December 2, 2020, 9:02 pm
MANILA – Small and medium enterprises (SMEs) received a boost in protecting their business and personnel through digital solution, Pru Life UK’s Business@Pulse. In a virtual briefing Wednesday, Pru Life UK president and chief executive officer Antonio De Rosas said SMEs can now buy group… Read More
3-year T-bond rate slips
December 2, 2020, 8:36 pm
MANILA – The rate of the three-year Treasury bond (T-bond) slipped Wednesday amid strong demand, which National Treasurer Rosalia de Leon attributed to investors’ preference for short-term debt papers. The average rate of the debt instrument fell to 2.169 percent from 2.224 percent during the… Read More
PSEi sustains gains; peso flat vs. dollar
December 2, 2020, 8:31 pm
MANILA – Risk-on sentiments ahead of the holidays continue to sustain the rise of the local stock barometer Wednesday while the peso finished flat against the US dollar. The Philippine Stock Exchange index (PSEi) rose by 1.01 percent, or 71.06 points, to 7,080.62 points. All Shares increased… Read More
Fruitas starts overseas expansion, expands PH network
December 2, 2020, 2:39 pm
MANILA – Food and beverage kiosk operator, Fruitas Holdings, Inc. (FHI), has announced the opening of its first franchised store in Dubai, as it also expands its network in the Philippines with about 60 kiosks and community stores in the pipeline. “We are excited to bring Fruitas to Dubai.… Read More
Online market platform for creative arts pushed
December 2, 2020, 2:35 pm
TACLOBAN CITY – Leyte 4th District Rep. Lucy Torres-Gomez is pushing for the creation of an online market platform for Filipino creative arts, products, and services to support micro, small and medium enterprises (MSMEs). House Bill No. 8064, or the Online Pinoy Creative Act, seeks to rapidly… Read More
S&P gives proposed PH dollar bond offering BBB+ rating
December 2, 2020, 1:38 pm
MANILA – S&P Global Ratings has assigned ‘BBB+’ ratings on the Philippines’ proposed benchmark-size dollar-denominated long-term foreign currency senior unsecured notes, similar to that of the economy’s investment-grade rating. This after the sovereign launched Wednesday morning the… Read More
EU helps set up online customs transit system to spur Asean trade
December 1, 2020, 8:25 pm
JAKARTA – The online Asean Customs Transit System (ACTS) was launched Monday to accelerate trade in goods by road within Southeast Asia. Being developed with the support of the European Union (EU), ACTS is simplifying the movement of goods across the region, making it more efficient and… Read More
Fitch Ratings sees PH banks' profitability to remain stable
December 1, 2020, 8:22 pm
MANILA – Philippines banks’ profitability is seen to remain stable due to higher loan growth and lower credit provisioning, factors which Fitch Ratings expects to counter the impact of reduced margins and lack of extraordinary trading gains. “We expect the deterioration in reported… Read More
Dumaguete Customs Sub-port exceeds 2020 target collection
December 1, 2020, 7:58 pm
DUMAGUETE CITY – The Bureau of Customs Sub-port here has surpassed its target revenue collection for this year, more than a month ahead of its deadline at the end of 2020. Dumaguete Customs Collector Fe Lluelyn Ganir Toring, in an interview Tuesday afternoon, said that as of Nov. 20, 2020, their… Read More
T-bill rates end mixed on expected inflation uptick
December 1, 2020, 6:58 pm
MANILA – The rates of Treasury bills (T-bills) ended mixed Tuesday on expected upticks in inflation rate due to recent typhoons. The rate of the 91-day paper rose to 1.006 percent and the 182-day to 1.386 percent, while the rate of the 364-day paper declined to 1.693 percent. These were at… Read More
PH still lucrative market for Japanese biz: envoy
December 1, 2020, 6:52 pm
MANILA – Japanese firms remain keen on investing in the Philippines, the country’s ambassador to Japan Jose Laurel said. “Based on my experience as Philippine ambassador to Japan, I can see that the Japanese continue to be excited about doing business in the Philippines. They see the… Read More
Stocks hit 7,000 level; peso ends flat vs. dollar
December 1, 2020, 5:52 pm
MANILA – The local stock barometer ended the first trading day of the month higher after rising to the 7,000-level ahead of the holidays while the peso ended sideways against the US dollar. The Philippine Stock Exchange index (PSEi) rose by 3.21 percent, or 218.10 points, to 7,009.56… Read More
SMC reports smooth traffic at expressways amid cashless tolls
December 1, 2020, 5:46 pm
MANILA – San Miguel Corporation (SMC) reported that traffic along its expressways and toll plazas on Tuesday was generally smooth on the first morning of implementation of the government’s mandate for 100-percent cashless toll collection. The company reported as of 10:45 a.m., traffic at… Read More
