Business
Pandemic hastening shift to digital currency: ECB chief
December 1, 2020, 3:42 pm
ANKARA – The coronavirus pandemic has accelerated the trend towards digitalization, with non-cash payments on the rise, making a change in the nature of money faster, the president of the European Central Bank (ECB) said Monday. "As the world enters the digital age, the nature of money, but… Read More
PRRD sees no issue in PITC: Roque
December 1, 2020, 3:17 pm
MANILA – President Rodrigo Duterte has echoed the side of Department of Trade and Industry (DTI) Secretary Ramon Lopez that there are no “parked” government funds at the Philippine International Trading Corp. (PITC), an attached agency of DTI. In a Palace briefing Tuesday, Presidential… Read More
PH manufacturing sector nears stability in November
December 1, 2020, 2:02 pm
MANILA – The country’s manufacturing sector was nearing stable conditions in November, IHS Markit Philippines Manufacturing Purchasing Managers’ Index (PMI) survey reported Tuesday. Domestic manufacturing PMI last month improved to 49.9 from a 48.5 score in October. Indices above 50 show… Read More
S&P Global maintains ’20, ’21 PH GDP forecasts
November 30, 2020, 7:56 pm
MANILA – S&P Global is keeping its growth forecasts for the Philippines for this year and 2021, noting the impact of recent typhoons partly hindered chances of economic recovery brought about by improved people’s mobility and employment. It forecasts a 9.5-percent growth contraction for… Read More
Big-time oil price hike set Dec. 1
November 30, 2020, 7:53 pm
MANILA – Oil companies have announced another price increase in fuel products as well as liquefied petroleum gas (LPG) starting Dec. 1. In separate advisories, Chevron, Cleanfuel, Petro Gazz, Phoenix Petroleum, PTT Philippines, Seaoil, Shell, and Total said diesel prices will increase by… Read More
Gov’t financing up 214.45% in end-October
November 30, 2020, 5:50 pm
MANILA – The government borrowings in the first 10 months of the year jumped by 214.45 percent year-on-year primarily due to requirements to address the coronavirus disease 2019 (Covid-19) pandemic. Bureau of the Treasury (BTr) data show total borrowings as of end-October this year reached… Read More
Dominguez asks DTI to return PITC's interest earnings to BTr
November 30, 2020, 3:23 pm
MANILA – Finance Secretary Carlos Dominguez III has formally asked the Department of Trade and Industry (DTI) to return to the Bureau of the Treasury (BTr) the interest earnings of the Philippine International Trading Corp. (PITC) to help augment the government’s coronavirus disease 2019… Read More
AIA Philam exec optimistic of hitting ’20 goals
November 28, 2020, 8:15 pm
MANILA – Officials of AIA Philam Life remain optimistic about having more Filipinos getting insurance coverage, citing that their Save Lives program has hit over 60 percent of its 2020 goal amid the pandemic. To date, the Philam Group, which includes AIA Philam and BPI-Philam, has hit 67… Read More
Water-transported commodities still dominate domestic trade
November 28, 2020, 3:09 pm
MANILA – Water remained the main carrier of commodities traded within the country during the third quarter (Q3) of the year. Domestically traded commodities transported through water totaled 2,293,409 tons valued at PHP91.185 billion, according to preliminary data released by the Philippine… Read More
Project Karinderya helps vulnerable biz, families amid pandemic
November 27, 2020, 7:21 pm
MANILA – Eighteen foundations and non-governmental organizations (NGOs) have been helping micro enterprises, particularly owners of food stalls or ‘karinderya’, to restart their businesses as well as urban poor communities, through Project Karinderya. The project distributes meals to poor… Read More
German firms biz sentiment in PH improves
November 27, 2020, 7:17 pm
MANILA – German companies operating in the Philippines have better business sentiments in the latest poll but remain cautious as negative impacts and big risks persist amid the pandemic. In its AHK World Business Outlook (WBO) Survey-Fall 2020 released Friday, the German-Philippine Chamber of… Read More
BSP forecasts November inflation between 2.4-3.2%
November 27, 2020, 7:14 pm
MANILA – Weather-related factors are expected to accelerate the November inflation to a range of 2.4 percent to 3.2 percent from the previous month’s 2.5 percent. In a Viber message to journalists Friday, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said higher domestic oil… Read More
Online platform bridging PPE makers, consumers launched
November 27, 2020, 6:01 pm
MANILA – The United Nations Development Programme in the Philippines (UNDP) and the Department of Trade and Industry (DTI) launched Friday the Empower PH, a digital platform that connects manufacturers, suppliers, users, and beneficiaries of protective wear. Empower PH or Enhanced Manufacturing… Read More
Peso ends sideways vs. USD; stocks gauge slips
November 27, 2020, 5:57 pm
MANILA – The peso again ended the trade to its over four-year high against the US dollar but the main stocks index slipped for the fourth consecutive day partly due to Morgan Stanley Capital International (MCSI) rebalancing. The local currency finished the trade at 48.06, its strongest since it… Read More
Megawide raises P4.3-B from preferred shares offering
November 27, 2020, 3:39 pm
MANILA – Megawide Construction Corporation raised a total of PHP4.3 billion from its Series 2A and Series 2B preferred shares offering, almost 1.5 times oversubscribed from the base offer of PHP3 billion. The shares were listed on the Philippines Stock Exchange (PSE) in a bell ringing… Read More
Passage of CREATE to hasten PH economic recovery: NEDA
November 27, 2020, 3:34 pm
MANILA – The National Economic and Development Authority (NEDA) has lauded the passage of Senate Bill 1357, or the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act, on second and third reading Thursday. “CREATE will help small and medium enterprises become more competitive… Read More
Signing of RCEP to facilitate more investments in PH
November 27, 2020, 3:26 pm
MANILA – The Philippines can attract more foreign investments with the signing of the Regional Comprehensive Economic Partnership (RCEP) deal, Department of Trade and Industry (DTI) Assistant Secretary Allan Gepty said Friday. During the virtual presser of the Presidential Communications… Read More
Dyson investing in software lab, R & D center in PH
November 27, 2020, 7:00 am
MANILA – Dyson Ltd. has chosen the Philippines to host its first software laboratory and research and development (R&D) center, the British technology firm announced. In a press briefing Thursday, Dyson chief operating officer Scott Maguire said the company’s upcoming software lab in the… Read More
Majority of intellectual property violators operate online
November 26, 2020, 8:13 pm
MANILA – The Intellectual Property Office of the Philippines (IPOPHL) on Thursday disclosed that majority of reported intellectual property violators from January to September this year were operating online. IPOPHL said its office received a total of 139 intellectual property infringement… Read More
Monetary Board okays digital banks as another bank type
November 26, 2020, 7:47 pm
MANILA – The Philippine monetary authorities’ bid to increase digital payments’ share to at least half of total retail transactions by 2023 got another boost after the policy-making Monetary Board (MB) recognized digital bank as another bank classification. In a press release Thursday, the… Read More
