Business
Investment firm, housing developer partner to expand footprint
November 19, 2020, 8:45 pm
MANILA – Private investment firm Januarius Holdings Inc. has partnered with Laguna-based property developer Ovialand, Inc (OLI) that expects to book PHP4 billion in revenues over the next three years until 2023, as it ramps up housing developments amid the pandemic. In a virtual press briefing… Read More
BSP cuts key rates to further boost economic growth
November 19, 2020, 8:03 pm
MANILA – After keeping key rates steady in the last two rate meetings, Bangko Sentral ng Pilipinas’ (BSP) policy-making Monetary Board on Thursday slashed these by 25 basis points after noting the need to further boost the economy. Effective on Friday, the central bank’s overnight reverse… Read More
BDO now operating 100% amid movement restrictions
November 19, 2020, 8:00 pm
MANILA – Sy-led BDO Unibank Inc. is now operating 100 percent around the country as it assures the public that health protocols required by the government are in place within its offices. “We understand the value of having financial access during this challenging time, be it for paying for… Read More
IKEA hiring almost 500 staff for first PH store
November 19, 2020, 7:57 pm
MANILA – Swedish home furnishing retailer IKEA is opening 496 jobs for its first store in the Philippines in Pasay City that will be its largest in the world. “The IKEA vision is to create a better everyday life for many people. Creating meaningful, stable jobs and great workplaces is just… Read More
Alibaba’s infra upgrades facilitate online purchases
November 19, 2020, 7:51 pm
MANILA – Chinese technology company Alibaba Group reported that its system handled all the transactions during the 11.11 shopping festival this year with no glitches Alibaba Group attributed the zero-downtime operation during the largest online shopping event to its infrastructure upgrade of… Read More
PAL to resume Bohol flights on Nov. 22
November 19, 2020, 7:05 pm
MANILA – Philippine Airlines (PAL) announced on Thursday the resumption of its Manila-Bohol-Manila flights on November 22. "The (resumption) of flights is timely in view of the reopening of Bohol to domestic tourism," PAL spokesperson Cielo Villaluna said. Bohol has been reopened to tourists… Read More
Stocks index declines; peso ends flat vs. USD
November 19, 2020, 6:06 pm
MANILA – Negative sentiments, partly due to coronavirus disease 2019 (Covid-19) developments in the US, resulted in the negative close for the local stock barometer on Thursday. The peso, however, ended sideways ahead of the central bank’s policy meeting. A day after rising to the… Read More
Asean pushes for better access to essential goods
November 19, 2020, 6:03 pm
MANILA – The Association of Southeast Asian Nations (Asean), which the Philippines is part of, has signed a new document that will address non-tariff measures in trading coronavirus-related products within the region. In a statement Thursday, Department of Trade and Industry (DTI) Secretary… Read More
SMC buys record corn volume to support farmers amid pandemic
November 19, 2020, 5:58 pm
MANILA – San Miguel Corporation (SMC), through its food division San Miguel Foods, is ramping up its buying of corn from local farmer cooperatives by 87,946 metric tons in October to early November, bringing its total year-to-date purchase to 524,155 metric tons, up 20 percent from 436,209… Read More
Pork supply in Cebu ‘abundant’ as Christmas nears
November 19, 2020, 5:33 pm
CEBU CITY – Local pork producers in Cebu have assured consumers there is enough supply of the meat in the province as the Christmas season nears. According to data from the Central Visayas Pork Producers Cooperative (CeViPPCo), Cebu province has an oversupply of pork. Provincial veterinarian Dr.… Read More
SMEs invest in R&D less affected by pandemic
November 19, 2020, 3:39 pm
MANILA – A survey by the International Trade Center (ITC) shows that Filipino small and medium enterprises (SMEs) that invested in research and development (R&D) are less affected by the global health and economic crisis. The Department of Trade and Industry (DTI) and ITC launched the… Read More
Typhoon-hit areas get free Wi-Fi
November 19, 2020, 3:14 pm
MANILA – Many areas severely affected by the onslaught of recent typhoons now have access to free internet services through wireless fidelity (Wi-Fi) hubs installed by telecoms firm Smart. In a statement Thursday, it said “fiber-powered” Wi-Fi hubs, with a capacity of up to 1 gigabyte per… Read More
Oil prices drop with crude inventory build in US
November 19, 2020, 12:20 pm
ANKARA – Oil prices dropped on Wednesday with an estimated rise in US crude stocks and after a fruitless OPEC meeting that failed to meet investor concerns over a global supply glut amid weak global demand. International benchmark Brent crude was trading at USD43.73 per barrel at 0700 GMT on… Read More
PH shares rise, peso moves sideways vs. USD
November 18, 2020, 9:36 pm
MANILA – Philippines’ main stocks index rose to the 7,000-level Wednesday and the peso ended sideways against the US dollar due to sustained risk on sentiments on news about the Covid-19 candidate vaccines. The Philippine Stock Exchange index (PSEi) rose 1.33 percent, or 92.64 points, to… Read More
NEDA sees better GDP print in Q4 '20
November 18, 2020, 9:25 pm
MANILA – Domestic growth in the last quarter of 2020 is expected to improve as the economy continues to re-open but share of consumer spending is seen to remain weak due to less expenditures on non-essentials. In a virtual briefing Wednesday, National Economic and Development Authority (NEDA)… Read More
TDF rates end mixed
November 18, 2020, 9:15 pm
MANILA – Rate of the Bangko Sentral ng Pilipinas’ (BSP) term deposit facility (TDF) ended mixed Wednesday, with preference registered for the longer-tenor facility. Data released by the central bank showed that average rate of the seven-day TDF rose to 1.9813 percent from last week’s 1.9720… Read More
APEC hopes RCEP to deliver faster economic recovery amid pandemic
November 18, 2020, 8:57 pm
MANILA – The Asia Pacific Economic Cooperation (APEC) has welcomed the new development in the region as 15 of its 21 member economies concluded the Regional Comprehensive Economic Partnership (RCEP). In a virtual press briefing Wednesday, APEC Secretariat executive director Rebecca Fatima Sta.… Read More
Authorities wary of financial sector systemic risk post-pandemic
November 18, 2020, 8:55 pm
MANILA – Authorities will be looking closely for systemic risks on the financial system post-pandemic after noting that businesses and households’ behaviors will change given the new situation. In a virtual briefing for the release of the 2nd Semester 2020 Financial Stability Report (FSR)… Read More
AirAsia PH to resume Manila-Bohol flights by Dec. 1
November 18, 2020, 7:40 pm
MANILA – Budget carrier AirAsia Philippines on Wednesday announced the resumption of its flights between Manila and Bohol beginning December 1. From Dec. 1-15, the carrier would be servicing these routes four times weekly, every Tuesday, Thursday, Friday, and Sunday. Daily flights between the… Read More
P8-B MSME funds released to DTI
November 18, 2020, 5:41 pm
MANILA – The Department of Trade and Industry (DTI) bared during its budget hearing at the Senate Wednesday that the Department of Budget and Management (DBM) already released PHP8 billion for the loan assistance for micro, small, and medium enterprises (MSMEs). Of the amount downloaded to DTI,… Read More
