Business
BSP eyes multiple daily PESONet transactions clearing
November 24, 2020, 7:17 pm
MANILA – The Bangko Sentral ng Pilipinas (BSP) is considering to increase the frequency of PESONet transactions clearing several times daily to further strengthen digital payments in the country. “This means that the payees of PESONet fund transfers will no longer wait for the end-of-the-day… Read More
8888 now receives complaints, grievances thru text
November 24, 2020, 6:51 pm
MANILA – The 8888 Citizens Complaint Center (CCC) now accepts complaints or grievances through text messages. In a statement on Tuesday, Globe Telecom Inc. (Globe) said the Office of the President (OP) has relaunched the 8888 short messaging system (SMS) service nationwide, allowing more… Read More
URC diversifies into rubbing alcohol to help pandemic response
November 24, 2020, 4:26 pm
MANILA – Universal Robina Corporation (URC), one of the country’s largest food firms, is diversifying into pharmaceutical-grade rubbing alcohol to support the country’s response to the coronavirus disease 2019 (Covid-19) pandemic. URC’s Agro-Industrial & Commodities Division is… Read More
Cebu City urges businesses to take advantage of tax concessions
November 24, 2020, 2:35 pm
CEBU CITY – Mayor Edgardo Labella on Tuesday urged companies here to take advantage of the tax concessions offered by the city government amid the economic struggles faced by the business sector. “Businesses in Cebu City and elsewhere are badly affected by and continue to suffer from public… Read More
DTI reminds retailers in Central Luzon of price freeze
November 23, 2020, 8:23 pm
CITY OF SAN FERNANDO, Pampanga – The Department of Trade and Industry (DTI) Regional Office III has reminded sellers of basic necessities of the price freeze following the declaration of a state of calamity in the entire Luzon by President Rodrigo Duterte due to the onslaught of Typhoon Ulysses.… Read More
Volume of passengers, cargoes in W. Visayas rising
November 23, 2020, 8:15 pm
BACOLOD CITY – The volume of passengers and cargoes moving in and out of Panay and Negros Islands has been steadily increasing with the further ease of restrictions amid the improving coronavirus disease 2019 (Covid-19) situation in Western Visayas. Frank Carbon, chief executive officer of the… Read More
PEZA eyes exceeding P100-B investment approvals in 2020
November 23, 2020, 8:10 pm
MANILA – Philippine Economic Zone Authority (PEZA) Director General Charito Plaza remains hopeful about surpassing the PHP100 billion investment approvals by the end of this year. This, as the PEZA registered PHP72.6 billion worth of projects from January to October 2020. In a press briefing… Read More
T-bills rates slip after latest BSP rate cuts
November 23, 2020, 8:03 pm
MANILA – The rate of the Philippines Treasury bills (T-bills) fell with the 91-day tenor dipping to below 1 percent Monday. The rate of the shortest tenor debt paper slipped to 0.986 percent, the 182-day to 1.385 percent, and the 364-day to 1.695 percent. These were at 1.019 percent, 1.443… Read More
GMR-Megawide submits key docs for P109-B NAIA rehab bid
November 23, 2020, 6:27 pm
CEBU CITY – The consortium of Megawide Construction and India’s GMR Infrastructure Ltd., which operates the Cebu airport, announced Monday it has complied with the additional requirements necessary for its PHP109-billion unsolicited proposal to rehabilitate and transform the Ninoy Aquino… Read More
Risk-on sentiments boost stocks, peso
November 23, 2020, 6:24 pm
MANILA – The Philippine Stock Exchange index (PSEi) gained Monday on optimism for the possible coronavirus disease 2019 (Covid-19) vaccine while the peso ended the day sideways against the US dollar. The main stocks gauge rose by 0.12 percent, or 8.83 points, to 7,178.62 points. All Shares… Read More
Diesel, kerosene prices up this week
November 23, 2020, 6:21 pm
MANILA – Oil firms have announced an increase in pump prices of diesel and kerosene starting Tuesday morning. In separate advisories, Chevron, Cleanfuel, Petro Gazz, Petron, PTT Philippines, Seaoil, Shell, and Unioil said they will hike diesel prices by PHP0.50 per liter. There will be no… Read More
PALSCON goes 'virtual' for 10th nat'l conference
November 23, 2020, 5:55 pm
MANILA – Despite the coronavirus disease 2019 (Covid-19) pandemic, the various quarantine levels still being implemented in many parts of the country and other challenges, the Philippine Association of Legitimate Service Contractors (PALSCON) will still push through with the 10th edition of the… Read More
Ex-NEDA chief urges gov’t to spend more on Covid-19 response
November 23, 2020, 4:47 pm
MANILA – Former Socioeconomic Planning Secretary Ernesto Pernia said it is not too late for the government to ramp up spending on its coronavirus disease 2019 (Covid-19) response to mitigate the impacts of the global health and economic crisis. At the Stratbase ARDi Pilipinas Conference 2020… Read More
Public confidence in gov't necessary during pandemic
November 23, 2020, 4:44 pm
MANILA – A former monetary authority highlighted the need for harmonized efforts to reopen the economy while addressing the impact of the pandemic to assure citizens that the government is on top of the situation. During the virtual “Pilipinas Conference 2020: Rebooting the Economy… Read More
Vigilance urged amid crimes in digital world during lockdown
November 20, 2020, 8:44 pm
MANILA – Vigilance among individuals and businesses alike are greatly needed now especially since criminals continue to become more sophisticated even in the digital world. In a virtual briefing Friday, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said this necessity was… Read More
BSP 28-day debt paper's rate slip
November 20, 2020, 7:54 pm
MANILA – The rate of the Bangko Sentral ng Pilipinas’ (BSP) 28-day debt paper declined on Friday amid the strong demand for the paper. Data released by the central bank showed that the average rate of the securities slipped to 1.7135 percent from the previous week’s 1.8487 percent. The BSP… Read More
Stocks rise; peso nearly unchanged vs. USD
November 20, 2020, 5:30 pm
MANILA – The Philippine Stock Exchange index (PSEi) climbed back to the 7,000-level on Friday, a day after the surprise 25 basis points cut in the Bangko Sentral ng Pilipinas' (BSP) key rates that also benefited the peso. The main stocks gauge rose to 7,169.79 points, up by 2.46 percent or… Read More
Local IT-BPM growth seen flat this year
November 20, 2020, 4:44 pm
MANILA – The growth of the local information technology and business process management (IT-BPM) industry is expected to be flat this year amid the pandemic. The IT and Business Process Association of the Philippines (IBPAP) bared its recalibrated forecast for the industry during the closing… Read More
Diokno cites importance of inflation-targeting amid pandemic
November 20, 2020, 2:51 pm
MANILA – Bangko Sentral ng Pilipinas’ (BSP) inflation targeting framework provides monetary authorities the flexibility on its policy stance, which is aimed to ensure price stability that is beneficial to sustainable growth and employment. “This is critical during this pandemic, when… Read More
Economists see sustained cuts in BSP rates
November 20, 2020, 2:09 pm
MANILA – Economists continue to project further cuts in the Bangko Sentral ng Pilipinas’ (BSP) key policy rates next year even as real interest rates are now in the negative, citing the need for more economic activity boost. This, after the unexpected 25 basis points reduction in the central… Read More
