Business
Deadline for payments of local taxes, fees extended to Dec. 19
November 9, 2020, 1:16 pm
MANILA – The Department of Finance (DOF) has issued a circular extending to Dec. 19, 2020 the payment of all local taxes, fees, and charges imposed by local government units (LGUs) with deadlines falling on or after Sept. 14 this year in compliance with the provisions of Republic Act 11494, or… Read More
BacMan temporarily energizes Albay, Sorsogon
November 9, 2020, 11:32 am
MANILA – Even without a power supply agreement, the Energy Development Corp. (EDC) is temporarily providing power to electric cooperatives in the provinces of Albay and Sorsogon through its Bacon-Manito Geothermal Power Plant to reenergize these areas hit by Super Typhoon Rolly. EDC has worked… Read More
Moody’s Analytics expects -6% GDP for PH Q3 2020
November 9, 2020, 10:10 am
MANILA – Moody’s Analytics forecasts a -6 percent output for the Philippine economy for the third quarter of 2020, an improvement from the -16.5 percent print it registered in the previous quarter. In its Asia Pacific Economic Preview for the week covering November 9-13, released Monday, the… Read More
SEC-Cebu warns public vs. investment scam using cryptocurrencies
November 8, 2020, 7:18 pm
CEBU CITY – The Securities and Exchange Commission–Cebu Extension Office (SEC-CEO) on Sunday warned the Cebuanos against illegal investment schemes using cryptocurrencies and foreign exchange trading using online platform but are not registered with the government. Lawyer Alma Marie… Read More
SM to open Zambo City mall Nov. 27
November 7, 2020, 5:02 pm
ZAMBOANGA CITY -- The SM Prime Holdings is opening its first shopping mall in the region on November 27 in this city amid the coronavirus disease 2019 (Covid-19) pandemic.Arnel Manahan, SM public relations officer, said Saturday that the SM Prime Holdings’ 76th Supermall--the seventh in… Read More
Ayala Land 9-month net income hits P6.4-B
November 6, 2020, 8:24 pm
MANILA – Ayala Land Inc. (ALI) on Friday reported a 73-percent decline in net income to PHP6.4 billion for the first nine months of the year, as the coronavirus disease 2019 (Covid-19) pandemic continues to impact business operations. Its consolidated revenues reached PHP63.3 billion in the… Read More
Revenue gains from fuel marking program show success: DOF chief
November 6, 2020, 7:34 pm
MANILA – The success of the government’s fuel marking program can be gauged primarily by the increased collection of taxes from oil importation, Department of Finance (DOF) Secretary Carlos Dominguez III said on Friday. In a Viber message to journalists, Dominguez shared the latest revenue… Read More
Peso soars to 4-year high; stocks hit 8-month high
November 6, 2020, 7:20 pm
MANILA – The Philippine peso finished Friday on a four-year high against the greenback while the main equities index posted a new eight-month high as investors took note of a possible Biden win in the US. The local currency finished the week at 48.22, better than its 48.31 close on… Read More
BSP 28-day securities yield declines
November 6, 2020, 5:46 pm
MANILA – High liquidity situation in the domestic economy continues to push demand for the Bangko Sentral ng Pilipinas’ (BSP) 28-day securities, the interest rate of which declined Friday. Data released by the central bank showed that the average accepted yield of the debt paper slipped to… Read More
Cebu chamber retools businesses for post-Covid ‘new economy’
November 6, 2020, 2:10 pm
CEBU CITY – The Cebu Chamber of Commerce and Industry (CCCI) is closely working with the government to bolster the “new economy” by upskilling and retooling both workers and businesses to prepare them for the post-coronavirus disease 2019 (Covid-19) era, a business leader has said. CCCI… Read More
Filipinos urged to invest in stocks, bonds
November 5, 2020, 9:03 pm
MANILA – Filipinos are encouraged to invest in bonds and stocks to seize opportunities amid the coronavirus pandemic. In a virtual press briefing Thursday, AP Securities vice president Jaycob Yedra said the best stock market returns are those invested during times of uncertainties. “When… Read More
C. Luzon MSMEs to benefit from community face mask project
November 5, 2020, 8:39 pm
CITY OF SAN FERNANDO, Pampanga – Micro, small and medium enterprises (MSMEs) in Central Luzon stand to benefit from the implementation of the government's community face mask project. The Department of Trade and Industry (DTI) is set to lead the certification process to accredited local mask… Read More
Diokno expects PH economy's full recovery by 2022
November 5, 2020, 7:28 pm
MANILA – The growth normalization of the Philippine economy may be expected by 2022, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said on Thursday. Diokno said the third quarter 2020 growth is expected to be better than the -16.5 percent in the second quarter, and 2021 will be a… Read More
Fiscal support for health care system, SMEs needed: IMF exec
November 5, 2020, 7:25 pm
MANILA – Ensuring fiscal provisions for the most-affected sectors and the health care system is the primary way for countries to recover from the impact of the pandemic, an International Monetary Fund (IMF) official said. In a virtual briefing on Thursday, IMF Regional Office for Asia Director… Read More
Cyber crimes up during early days of quarantine: Diokno
November 5, 2020, 7:22 pm
MANILA – Cyber threats increased during the earlier days of the community quarantine but these have been addressed by financial institutions’ tough stance against online crimes. In a virtual briefing Thursday, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said cyber crimes like… Read More
SMC posts P15-B profits in Q3
November 5, 2020, 7:03 pm
MANILA – San Miguel Corporation (SMC) posted a net income of PHP15 billion for the third quarter this year, a full turnaround from the PHP4-billion loss during the first half, following the easing of restrictions starting July. “The country has proven its adaptability and resilience in these… Read More
Unionbank now functions as digital bank: exec
November 5, 2020, 6:39 pm
MANILA – An official of Union Bank of the Philippines (Unionbank) said on Wednesday the bank is functioning as a digital bank and is open for the possibility of applying for a separate license that will be used for a specific purpose. In a briefing, Unionbank chief financial officer (CFO)… Read More
Stocks, peso rise amid vote counts in US polls
November 5, 2020, 6:32 pm
MANILA – Both the Philippine Stock Exchange index (PSEi) and the peso ended Thursday higher even as official results of the US presidential polls have yet to be announced. The main equities index rose by 2.80 percent, or 180.72 points, to 6,644.77 points. All Shares increased by 1.84 percent,… Read More
Inflation still within gov’t target in October 2020: NEDA
November 5, 2020, 6:30 pm
MANILA – The country’s inflation rate continued to settle within target in October 2020, although upside risks such as the adverse impact of inclement weather and the lingering presence of the African swine fever (ASF) remain, the National Economic and Development Authority (NEDA) said. The… Read More
AboitizPower to expand RE, eyes gas venture
November 5, 2020, 4:21 pm
MANILA – Aboitiz Power Corp. is looking into growing its renewable energy business and also venturing in gas projects in the next 10 years, its president and chief executive officer Emmanuel Rubio said. “We’re looking at growing our renewable energy portfolio from what is today around 940… Read More
