Business
Caraga logs 5% economic growth in 2019: PSA
November 18, 2020, 5:28 pm
BUTUAN CITY – The Philippine Statistics Authority in Caraga Region (PSA-13) said the area registered a 5 percent economic growth in 2019.The agency said Caraga’s growth performance last year moved at a slightly “slower pace” compared to 2018 when the region registered a 5.2 percent… Read More
GenSan monitors compliance of businesses with Covid-19 protocols
November 18, 2020, 4:16 pm
GENERAL SANTOS CITY – The city government launched on Wednesday another round of surprise inspection on business establishments here to determine their compliance with health standards and other control measures against the coronavirus disease (Covid-19). Geraldine Zamora, head of the city… Read More
5G to be available to 80% of MM by yearend: Globe
November 18, 2020, 3:41 pm
MANILA – More Filipinos will soon have access to faster and more stable mobile internet services in Metro Manila as Globe Telecom (Globe) announced its plans to expand its 5G network to cover 80 percent of the region by yearend. “We are probably in the two-thirds range right now. To complement… Read More
DBM chief assures more funds for typhoon-affected LGUs
November 17, 2020, 8:44 pm
MANILA – Budget and Management Secretary Wendel Avisado has assured local government executives that there is adequate budget for the immediate needs of areas affected by recent typhoons. “The President has ordered the immediate release of additional funds for the local government units,… Read More
Dominguez says no need to increase borrowings from BSP for now
November 17, 2020, 8:41 pm
MANILA – Finance Secretary Carlos Dominguez III is discounting the need to take additional borrowings from the Bangko Sentral ng Pilipinas (BSP) to boost government financing, citing that the government is now banking on its various fiscal programs. “At this point in time we don't see any need… Read More
Group seeks to relax rules under Real Estate Service Act
November 17, 2020, 8:38 pm
MANILA – A real estate advocacy group on Tuesday filed a Petition for Declaratory Relief at the Makati Regional Trial Court to relax rules for real estate services professionals. Members of A Better Real Estate Philippines (ABREP) Movement are seeking to amend the Real Estate Service Act of 2009… Read More
Covid-19 vaccine seen to restore consumer confidence
November 17, 2020, 5:11 pm
MANILA – Availability of vaccine for coronavirus disease (Covid-19) is expected to restore consumer confidence and help boost the Philippine economy’s expansion in 2021.In an interview with Bloomberg TV on Tuesday, Finance Secretary Carlos Dominguez III said the economy was on a strong… Read More
PH stocks index recovers, peso ends sideways vs. USD
November 17, 2020, 4:11 pm
MANILA – The Philippines’ main stocks index recovered Tuesday and the peso finished the day sideways on positive news for the possible coronavirus disease (Covid-19) vaccine being developed by US-based pharmaceutical company, Moderna. After a three-day slide, the Philippine Stock Exchange… Read More
Economic growth in APEC suffers record decline
November 16, 2020, 8:39 pm
JAKARTA – Economic growth in the Asia-Pacific Economic Cooperation (APEC) slumped by 3.7 percent in the first six months of 2020 and projected to contract by 2.5 percent yearlong, or amount to output loss of USD1.8 trillion. It will be the foremost time that the region’s economy will contract… Read More
Property developer exec hopeful on hitting 10% revenue goal
November 16, 2020, 8:27 pm
MANILA – An official of Cebu Landmasters Inc. (CLI) remains optimistic about a 10-percent revenue jump this 2020 amidst the pandemic, saying construction works in its various projects continued even during the quarantine period. In a virtual briefing Monday, CLI executive vice president and… Read More
Be strict in workplace safety protocols, Cebu bizmen told
November 16, 2020, 8:23 pm
CEBU CITY – The Cebu Chamber of Commerce and Industry (CCCI) has called on the business community here to strictly implement the minimum health standards in workplaces. “The Covid-19 (coronavirus disease 2019) pandemic has brought massive destruction to business enterprises, the economy and… Read More
Vista Land nets P5.5-B in 9 months; bullish about rest of year
November 16, 2020, 8:16 pm
MANILA – Vista Land & Lifescapes, Inc., one of the country’s leading integrated property developers, reported on Monday a 39-percent decline in net income to PHP5.5 billion in the first nine months of the year as the coronavirus disease 2019 (Covid-19) continues to impact on its business… Read More
PH needs ‘investor-friendly’ CREATE law: biz groups
November 16, 2020, 7:11 pm
MANILA – Various industry associations want lawmakers to pass a Corporate Recovery and Tax Incentives for Enterprises (CREATE) bill that is investor-friendly and will attract more foreign direct investments (FDIs) as well as help in job generation. In a virtual press briefing Monday,… Read More
PH, Singapore monetary regulators agree on data connectivity pact
November 16, 2020, 6:37 pm
MANILA – Philippines’ and Singapore’s monetary authorities have agreed to strengthen data connectivity tie-up to address issues involving the financial sector. In a joint statement Monday, the Bangko Sentral ng Pilipinas (BSP) and the Monetary Authority of Singapore (MAS) said they have… Read More
91-day, 182-day T-bill rates down, 364-day up
November 16, 2020, 6:11 pm
MANILA – The interest rates of the short-term Treasury bills (T-bills) declined Monday but the rate of the one-year paper ended the auction flat. The rate of the 91-day T-bill slipped to 1.019 percent from 1.024 percent during the auction last Nov. 9. The Bureau of the Treasury (BTr) initially… Read More
Stocks slip, peso ends sideways
November 16, 2020, 5:20 pm
MANILA – The local stock barometer ended Monday in the negative territory but the peso finished sideways against the US dollar The Philippine Stock Exchange index (PSEi) shed 0.74 percent, or 51.83 points, to 6,918.05 points. All Shares followed with a drop of 0.25 percent, or 10.18 points, to… Read More
‘Big time’ oil price hike set Nov. 17
November 16, 2020, 3:18 pm
MANILA – Firms announced an oil price increase to be implemented effective Tuesday morning. In separate advisories, Cleanfuel, Petro Gazz, Seaoil, and Shell will hike gasoline prices by PHP1.05 per liter and PHP1.55 per liter for diesel. Seaoil and Shell will also increase kerosene prices by… Read More
Sea route from Negros-Panay to Batangas to cut cost, travel time
November 16, 2020, 3:11 pm
BACOLOD CITY – The opening of direct sea route from Western Visayas, particularly Negros and Panay, to Batangas is expected to cut logistics costs and travel time. Batangas-based Shipping Starlite Ferries Inc. launched the service of the brand new, roll-on, roll-off (RoRo) M/V Starlite Venus at… Read More
PrimeWater takes over operation of Bacolod’s water supply system
November 16, 2020, 2:12 pm
BACOLOD CITY – The Villar Group’s PrimeWater Infrastructure Inc. will invest a total of PHP1.6 billion to improve the water supply system here during the first five years of its 25-year joint venture agreement with the Bacolod City Water District (Baciwa). On Monday, the Manila-based utility… Read More
Automotive industry on track to hit 240K sales this year
November 16, 2020, 1:55 pm
MANILA – The local automotive industry is optimistic about hitting its revised target sales of 240,000 units by the end of 2020. This, as the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) recorded another month-on-month sales growth for October. October sales grew by 2… Read More
