Business
Stock index slips; peso flat vs. USD
November 11, 2020, 5:58 pm
MANILA – After a seven-day rally, the Philippine Stock Exchange index (PSEi) slipped Wednesday while the peso ended flat against the US dollar. The main equities index contracted by 0.16 percent, or 11.22 points, to 7,024.26 points. All Shares index rose by 0.16 percent, or 6.33 points, to… Read More
P5-K cash aid available to retrenched workers in C. Visayas
November 11, 2020, 3:58 pm
CEBU CITY – The Department of Labor and Employment (DOLE) 7 (Central Visayas) announced on Wednesday that formal sector workers in the region who had been laid off could apply online for a one-time cash aid of PHP5,000 under the department’s coronavirus disease 2019 (Covid-19) Adjustment… Read More
DOF chief cites factors boosting economic recovery
November 11, 2020, 3:24 pm
MANILA – Enabling the economy and managing risks boost the Philippine economy’s potential to recover from the pandemic, Department of Finance (DOF) Secretary Carlos Dominguez III said. During the public address of President Rodrigo R. Duterte Tuesday night, Dominguez said a combination of… Read More
NegOcc sugar maker plant adopts anti-pollution measures
November 11, 2020, 3:20 pm
MANAPLA, Negros Occidental – The management of the Victorias Milling Company (VMC) distillery plant in Barangay Purisima here has adopted various measures to prevent pollution as the alcohol production facility resumed operations in recent weeks. Plant manager, Engineer Sherwin Bacanto said… Read More
DMCI Holdings trims profit decline to 34% in Q3
November 10, 2020, 8:56 pm
MANILA – Diversified engineering conglomerate DMCI Holdings Inc. recorded a 34-percent drop in consolidated third-quarter net income from PHP2.8 billion to PHP1.9 billion owing to weak contributions from its integrated energy, construction and water businesses. Real estate arm DMCI Homes… Read More
Electronics makers see smaller slump this year
November 10, 2020, 8:30 pm
MANILA – The Semiconductor and Electronics Industries in the Philippines Foundation Inc. (SEIPI) has revised slightly upwards its industry growth outlook for this year but is still in negative territory to reflect the impact of the coronavirus disease (Covid-19) pandemic. “We have upgraded… Read More
Eagle Cement to complete Bulacan mill by Q1 2021
November 10, 2020, 8:27 pm
MANILA – Eagle Cement Corp. is set to finish its milling facility in San Ildefonso, Bulacan by the first quarter of 2021. In a statement Tuesday, the firm said it earmarked PHP1.5 billion for its fifth cement milling unit to ramp up the production capacity to 8.6 million metric tons. Eagle… Read More
PH economy seen improving further in Q4
November 10, 2020, 7:56 pm
MANILA – An improvement in economic performance is expected to continue even if it remains in contraction in the fourth quarter of 2020 while positive growth can start only next year. In a virtual briefing Tuesday, Rizal Commercial Banking Corporation (RCBC) chief economist Michael Ricafort… Read More
DTI assures no price hike on Noche Buena items
November 10, 2020, 7:50 pm
MANILA – As Christmas celebration approaches, the Department of Trade and Industry (DTI) has assured consumers that there will be no price increase on Noche Buena products compared to their prices last year. On Tuesday, the DTI released the latest suggested retail price (SRP) list for these… Read More
Stocks surge on positive Covid-19 vaccine news; peso slips
November 10, 2020, 7:49 pm
MANILA – News about the success of the third phase studies on the possible coronavirus disease (Covid-19) vaccines of both the Germany-based BioNTech SE and Pfizer Inc. boosted the local bourse but the peso weakened. The Philippine Stock Exchange index (PSEi) rose by 5.23 percent, or 349.63… Read More
RCBC sets funds to boost employees' WFH capabilities
November 10, 2020, 6:35 pm
MANILA – The Rizal Commercial Banking Corporation (RCBC) has reallocated part of its budget for information technology (IT) to enhance work-from-home capabilities of its employees after the government implemented community quarantines since mid-March. In a virtual briefing Tuesday, RCBC senior… Read More
Economy shrinks at slower pace in Q3; strong rebound seen
November 10, 2020, 2:17 pm
MANILA – The Philippine economy shrank at a slower pace in the third quarter of 11.5 percent still due to the impact of the coronavirus disease 2019 (Covid-19), indicating a recovery in the coming quarters. The government reported Tuesday the country’s gross domestic product (GDP) slide eased… Read More
D&L Industries doubles profit in Q3, sees sustained recovery
November 9, 2020, 8:53 pm
MANILA – D&L Industries, a manufacturer of specialty food ingredients, plastics and oleochemicals, is optimistic about booking higher earnings in the fourth quarter and in 2021 especially with the Joe Biden presidency that is expected to boost its exports business. In a virtual press briefing… Read More
More help needed from banks, fiscal sector vs. pandemic's impact
November 9, 2020, 8:41 pm
MANILA – Banks need to further increase their lending activities and fiscal measures should be expanded to help boost economic recovery, a former central bank official said. During the first day of the week-long Philippine Economic Society (PES) annual meeting Monday, former Bangko Sentral… Read More
T-bill rates fall, BTr upsizes awards
November 9, 2020, 8:28 pm
MANILA – The Bureau of the Treasury’s (BTr) auction committee on Monday upsized the awards for the 91-day and 182-day Treasury bills (T-bills) and opened the tap facility for the one-year paper due to strong demand. The Btr originally offered both the three-month and six-month papers for PHP5… Read More
Peso closes at over 4-year high vs. USD; stocks flat
November 9, 2020, 6:34 pm
MANILA – The peso closed almost unchanged Monday but was still over four-year high against the greenback amid US election results, while the local bourse’s main index also barely moved ahead of the third-quarter domestic output report. The local currency ended the week’s first trading day… Read More
Lazada, Shopee get most online complaints: DTI
November 9, 2020, 6:12 pm
MANILA – The country’s two biggest online shopping applications have been recorded as having the most number of transaction complaints with the Department of Trade and Industry (DTI), a trade official bared on Monday. During the virtual meeting of the Committee on Trade and Industry of the… Read More
PH seen to benefit from Biden presidency
November 9, 2020, 5:42 pm
MANILA – The Philippines, along with the rest of Asia, stands to benefit from the Joe Biden presidency due to the expected reduction of risk from the US-China trade war, as well as less protectionism and a possible increase in government stimulus. In a report, Rizal Commercial Banking… Read More
Gasoline prices down; diesel, kerosene up Nov. 10
November 9, 2020, 4:22 pm
MANILA – Oil firms have announced adjustments in the prices of their products effective Tuesday morning. In separate advisories, Cleanfuel, Petro Gazz, Petron, PTT, Seaoil, and Shell will roll back gasoline prices by PHP0.20 per liter. Except for Cleanfuel, they will increase diesel prices by… Read More
DTI urges consumers to buy local this Christmas
November 9, 2020, 2:36 pm
CEBU CITY – The Department of Trade and Industry (DTI), through its Regional Operations Group (ROG), has officially launched its Christmas special project dubbed as ‘Pasa-Love’ on DTI YouTube channel. Pasa-Love is a video promotional campaign to “buy local” as part of efforts to… Read More
