Business
PH stocks weaken ahead of Thanksgiving, peso finishes sideways
November 26, 2020, 4:46 pm
MANILA – The Philippines' main stocks index slipped for the third consecutive day and ended Thursday at the 6,900-level while the peso ended sideways against the greenback due in part to the United States' Thanksgiving holiday. The Philippine Stock Exchange index (PSEi) shed 1.05 percent, or… Read More
British copper processing firm invests P583-M in Cebu
November 26, 2020, 3:14 pm
MANILA – British firm CD Processing Ltd. has invested PHP583 million in its ore sortation facility in Cebu, a pioneer project approved by the Board of Investment (BOI). Department of Trade and Industry (DTI) Undersecretary and BOI managing head Ceferino Rodolfo told the Philippine News Agency on… Read More
BSP policies secure banks amid pandemic: bank official
November 26, 2020, 3:08 pm
MANILA – Policies implemented by the Bangko Sentral ng Pilipinas (BPS) to further strengthen the industry allowed banks to remain resilient amidst the pandemic, a Security Bank Corporation (Security Bank) official said on Thursday. During the virtual Security Bank economic forum, Security Bank… Read More
Delivery firm sees sustained 'online food' demand in Cebu
November 26, 2020, 2:14 pm
CEBU CITY – A corporate concierge delivery firm is looking to partner with more restaurants in Cebu, as it sees rising demand amid the quarantine restrictions brought about by the coronavirus disease 2019 (Covid-19) crisis. James Kodrowski, managing director of Foodie.ph, told reporters here on… Read More
New Zealand to steer APEC's work towards recovery
November 25, 2020, 8:54 pm
JAKARTA – New Zealand, one of the 12 founding members of Asia-Pacific Economic Cooperation (APEC), plans to steer APEC’s efforts towards recovery in a time of unprecedented health and economic crises as the grouping’s host in 2021. New Zealand has taken over the leadership of APEC from… Read More
Budget gap hits P940.6-B in end-October
November 25, 2020, 8:49 pm
MANILA – Higher expenditures in the first 10 months of 2020 on account of the pandemic resulted in the 170.09 percent year-on-year rise in the government’s budget gap to PHP940.6 billion. Data released by the Bureau of the Treasury (BTr) Wednesday showed that revenues during the 10-month… Read More
Power in Meralco franchise areas fully restored after ‘Ulysses’
November 25, 2020, 8:44 pm
MANILA – The Manila Electric Co. (Meralco) said it has fully restored electricity in its franchise areas after the onslaught of Typhoon Ulysses. “As of November 24, 2020, Meralco has completed full restoration of all of its facilities and electric service affected by Typhoon Ulysses,” the… Read More
Competition policies needed in economic recovery
November 25, 2020, 8:36 pm
MANILA – The Philippine Competition Commission (PCC) reiterated the crucial role of competition policies as the government tries to revive the economy amid the pandemic. In PCC’s virtual roundtable on Competition in the Recovering Economy, PCC chairman Arsenio Balisacan said policies that may… Read More
BSP's TDF rates decline after another rate cut
November 25, 2020, 6:55 pm
MANILA – Oversubscription was again registered during the term deposit facility (TDF) auction Wednesday but rate of the facility declined, which was traced to the latest Bangko Sentral ng Pilipinas’ (BSP) rate cut. Data released by the central bank showed that the average rate of the… Read More
Biz community hails Cebu City tax amnesty program
November 25, 2020, 6:52 pm
CEBU CITY – The Cebu Chamber of Commerce and Industry (CCCI) has supported the city government’s call to the business sector to avail of its tax amnesty program. “The CCCI strongly urges its members and non-members alike to grab this rarely given opportunity before its deadline,” CCCI… Read More
Stocks index dips; peso ends sideways vs. USD
November 25, 2020, 6:49 pm
MANILA – The main stocks index ended Wednesday in the negative territory ahead of the Thanksgiving holiday in the US, while the peso finished the trade sideways against the US dollar. The Philippine Stock Exchange index (PSEi) shed 1.51 percent, or 107.16 points, to 7,001.51 points. All Shares… Read More
Improving sentiment boosts emerging East Asian bond markets
November 25, 2020, 6:45 pm
MANILA – Accommodative monetary stance sustained the growth of local currency bond markets in emerging East Asia, with currencies and equity markets gaining in early November, according to the latest quarterly issue of the Asian Development Bank’s (ADB) Asia Bond Monitor. “We saw an… Read More
PITC did not offer Covid vaccine procurement: DTI chief
November 25, 2020, 5:54 pm
MANILA – Department of Trade and Industry (DTI) Secretary Ramon Lopez said it was not the Philippine International Trading Corp. (PITC) that offered procurement for coronavirus disease 2019 (Covid-19) vaccines once these become available. Lopez made the statement after some senators expressed… Read More
Japanese PCR test machine, kit maker to invest in PH
November 25, 2020, 4:36 pm
MANILA – A senior trade official said Wednesday that a Japanese manufacturer of polymerase chain reaction (PCR) test equipment will be investing in the country before the year ends. Department of Trade and Industry (DTI) Undersecretary Ceferino Rodolfo told the Philippine News Agency that the… Read More
SSS studying ways to implement 2nd tranche of pension hike
November 25, 2020, 4:32 pm
MANILA – The Social Security System (SSS) is not closing the possibility of implementing the second half of the PHP2,000 pension increase, but this is being studied carefully since contributions have dropped during the pandemic, the pension fund’s top official said Wednesday. During the… Read More
BSP denies spending for new logo
November 24, 2020, 8:34 pm
MANILA – The Bangko Sentral ng Pilipinas (BSP) on Tuesday denied allegations that it spent millions for the design and development of its new logo. In a statement, the central bank said the new logo, a gold-colored full-bodied eagle with wings spread upward, “was developed by in-house talents… Read More
BOI on track to hit 2nd-highest investment approvals
November 24, 2020, 8:26 pm
MANILA – After hitting record-high investment approvals in 2019, the Board of Investments (BOI) is optimistic about recording the second-highest investment approvals this year in the agency’s history despite the coronavirus disease 2019 (Covid-19) pandemic. At the launch of the Make It Happen… Read More
DTI reminds consumers to do early Christmas shopping
November 24, 2020, 8:18 pm
SAN JOSE DE BUENAVISTA, Antique – The Department of Trade and Industry (DTI) Antique provincial office is reminding consumers to do their Christmas shopping early to avoid crowding in shopping malls and grocery stores. Glen Fernando, DTI Antique provincial office Trade and Industry Specialist,… Read More
Peso closes nearly unchanged; stocks index slips
November 24, 2020, 7:43 pm
MANILA – The peso closed almost unchanged against the US dollar but at one of its strongest level in more than four years on Tuesday on positive news of a possible coronavirus vaccine, while the local stock barometer finished in the negative territory. The local currency ended the day at 48.145… Read More
PH identifies 5 key sectors for foreign investments
November 24, 2020, 7:21 pm
MANILA – The Department of Trade and Industry (DTI) formally launched Tuesday its new international marketing campaign “Make It Happen in the Philippines”, highlighting five key investment priority sectors. It is a unified, country-wide, and multi-sector investment campaign that aims to… Read More
