Business
RCEP trade ministers sign free trade deal
November 15, 2020, 11:39 am
MANILA – Department of Trade and Industry (DTI) Secretary Ramon Lopez bared that trade ministers of Regional Comprehensive Economic Partnership (RCEP) participating countries will sign the free trade deal on Sunday. “RCEP is set to be signed by trade ministers on Sunday during the Asean… Read More
Biz groups push businesses to speed up digitalization
November 14, 2020, 5:21 pm
MANILA – As the country's merchandise exports rebounded after the coronavirus slump, exporting companies need to accelerate digital transformation to recover and thrive in the new normal. Industry stakeholders will participate on Dec. 3 in a virtual National Export Congress (NEC) carrying the… Read More
Bank exec sees increase in NPLs after Bayanihan 2 expires
November 13, 2020, 8:30 pm
MANILA – An executive of Philippine National Bank (PNB) expects the bank’s non-performing loans (NPLs) to increase after the Bayanihan to Recover as One Act expires on Dec. 19. In a virtual briefing Friday, PNB president and chief executive officer (CEO) Wick Veloso said they registered a big… Read More
BSP's 28-day debt paper rate slips
November 13, 2020, 8:26 pm
MANILA – The rate of the Bangko Sentral ng Pilipinas’ (BSP) 28-day securities dropped Friday even as demand remained high. Data released by the central bank showed that the rate of the debt paper declined to 1.9621 percent from 1.9922 percent during the auction last Nov. 6. The BSP offered… Read More
JG Summit’s profit hits P844-M in Q3
November 13, 2020, 8:23 pm
MANILA – The Gokongwei-led JG Summit Holdings, Inc. (JGS) said its consolidated net income in the third quarter of 2020 has reached PHP844 million, a reversal of the PHP720 million loss recorded in the first six months of the year, as the economy progressively opens up amid the lingering threat… Read More
DOF chief optimistic on approval of CREATE bill by end-2020
November 13, 2020, 8:15 pm
MANILA – Department of Finance (DOF) Secretary Carlos Dominguez III remains optimistic for the approval of the proposed Corporate Recovery and Tax Incentives for Enterprises (CREATE) bill by end-2020. During a webinar titled “Philippines as Pathway to Asia in Post-Pandemic World” hosted by… Read More
Lawmaker pushes P750-B spending to fight Covid-19
November 13, 2020, 6:34 pm
MANILA – Senator Imee Marcos said the government should “throw much more money” for its coronavirus disease 2019 (Covid-19) response as other countries spend as much as 20 percent of gross domestic product to mitigate impacts of the global health crisis. Speaking at the fourth-quarter… Read More
Stocks dip, peso ends flat on pandemic, typhoon
November 13, 2020, 5:09 pm
MANILA – The local stock barometer ended Friday in the negative territory due to concerns over the pandemic and the impact of Typhoon Ulysses, but the peso managed to finish sideways against the US dollar. The Philippine Stock Exchange index (PSEi) dipped by 0.77 percent, or 54.38 points, to… Read More
PEZA registers P73-B projects in Jan-Oct 2020
November 13, 2020, 4:42 pm
MANILA – Philippine Economic Zone Authority (PEZA) Director General Charito Plaza said Friday that the registered projects with the investment promotion agency in the first 10 months of the year have reached PHP72.6 billion. In her speech during the fourth-quarter general membership meeting… Read More
PH has ability to pay obligations: DOF chief
November 13, 2020, 4:36 pm
MANILA – Department of Finance Secretary Carlos Dominguez III has expressed confidence on the government’s ability to pay loans used to address the impact of the pandemic. In his speech during the webinar titled “Philippines as Pathway to Asia in Post-Pandemic World” hosted by the… Read More
Alliance Global Q3 profit rebounds, 9-month earnings hit P6.4-B
November 13, 2020, 2:36 pm
MANILA – Conglomerate Alliance Global Group, Inc. (AGI) chalked up a 14-fold improvement in its third-quarter profit to PHP2.2 billion from PHP156 million in the second quarter, boosted by the gradual easing of community quarantines throughout the country and the further reopening of the… Read More
IMF cites need for PH bank secrecy law amendment
November 12, 2020, 9:08 pm
MANILA – The International Monetary Fund (IMF) has recommended the amendment of the Philippines bank secrecy law to further provide the Bangko Sentral ng Pilipinas (BSP) “additional teeth” in regulating financial institutions. In its report on the financial sector assessment program, the… Read More
PRRD highlights importance of RCEP at 37th Asean Summit
November 12, 2020, 6:43 pm
MANILA – President Rodrigo R. Duterte highlighted the importance of the Regional Comprehensive Economic Partnership (RCEP) in further pushing for regional integration. “On the economic front, we must deepen regional integration and strengthen supply chain connectivity,” Duterte said during… Read More
Financial market ops suspended due to 'Ulysses'
November 12, 2020, 10:23 am
MANILA – Trading of foreign exchange and equities, among others, have been suspended for Thursday due to the onslaught of Typhoon Ulysses. In an advisory, the Bangko Sentral ng Pilipinas (BSP) said since Malacañang suspended work in government offices in typhoon-affected areas, this also covers… Read More
Newbie gov't securities investors take bulk of ‘premyo’ bonds
November 11, 2020, 8:22 pm
MANILA – Bulk of the holders of the initial premyo bonds are first-time government securities (GS) investors, making authorities optimistic for the success of the second issuance. “We plan to sustain the interest of our investors by making this premyo bond bigger and better and with a… Read More
GSIS educational loan program extends 5-year payment leeway
November 11, 2020, 8:08 pm
MANILA – Government employees who will avail of the Government Service Insurance System’s (GSIS) study-now, pay-later loan program are given a five-year leeway in their payments. In an interview during the public briefing program aired over state-owned PTV4, GSIS executive vice president for… Read More
Economy in right trajectory for recovery: DTI chief
November 11, 2020, 8:05 pm
MANILA – As gross domestic product (GDP) growth contraction eased in the third quarter of the year, the country’s top trade official underscored the need to adhere to the minimum health protocol to further reopen the economy. In a statement Wednesday, Department of Trade and Industry (DTI)… Read More
BSP's term facility rates end mixed, strong demand remains
November 11, 2020, 8:01 pm
MANILA – Both the seven- and 14-day term deposit facility (TDF) of the Bangko Sentral ng Pilipinas (BSP) were oversubscribed Wednesday but their interest rates ended mixed. Data released by the central bank showed that the average rate of the seven-day facility rose to 1.9720 percent from… Read More
Sarangani town to develop P100-M business hub
November 11, 2020, 7:20 pm
GENERAL SANTOS CITY – The municipal government of Malungon in Sarangani province is set to start the development of its planned PHP100-million trade and business hub.Malungon Mayor Maria Theresa Constantino said Wednesday they have been processing the requirements for constructing the Banate… Read More
Japanese cement firm embarks on P15-B expansion in PH
November 11, 2020, 6:08 pm
MANILA – More Japanese firms remain optimistic in the Philippine market despite the pandemic as Taiheiyo Cement Corp. announced a fresh PHP15-billion expansion plan here to ramp up local cement production. In a statement Wednesday, the Department of Trade and Industry (DTI) said expansion… Read More
