Business
DTI to hold Diskwento Caravan in ‘Rolly’-hit areas
November 2, 2020, 9:34 pm
MANILA – Department of Trade and Industry (DTI) Secretary Ramon Lopez said the agency will bring the Diskwento Caravan in areas affected by Super Typhoon Rolly. During a cabinet meeting with President Rodrigo Duterte Monday evening, Lopez said DTI eyes to hold Diskwento Caravan in two to three… Read More
P2.8-B energy infra damaged due to ‘Rolly’
November 2, 2020, 8:50 pm
MANILA – Department of Energy (DOE) Secretary Alfonso Cusi reported that a total of PHP2.8 billion of energy infrastructures were damaged due to Super Typhoon Rolly. In President Rodrigo Duterte’s meeting with his Cabinet members Monday evening, Cusi said most of the damaged infrastructures… Read More
Innovative selling, shifting market needs drive AboitizLand sales
November 2, 2020, 7:17 pm
MANILA – Average monthly sales of Aboitiz real estate arm AboitizLand, Inc. have already exceeded pre-pandemic levels, reflecting the impact of innovative selling techniques and the shifting preferences of property seekers. AboitizLand’s reservation sales for the months following the… Read More
DTI hikes operational capacity of businesses in GCQ, MGCQ areas
November 2, 2020, 7:13 pm
MANILA – The Department of Trade and Industry (DTI) has issued a new memorandum circular (MC) that further increases the operational capacity of business establishments and activities in areas under general community quarantine (GCQ) and modified GCQ (MGCQ). Business establishments and… Read More
Biz leader underscores stable power supply in Mindanao
November 2, 2020, 6:36 pm
DAVAO CITY--A business leader here said having stable power supply remains crucial in Davao Region as well as Mindanao's industrial, manufacturing, and tourism sectors.Business and tourism leader Joji Ilagan-Bian lamented in an interview Monday that the sporadic power supply in several areas in… Read More
Fuel prices down this week
November 2, 2020, 2:52 pm
MANILA – Oil firms have announced a rollback in their prices which takes effect Tuesday morning. In separate advisories, Cleanfuel, Petro Gazz, Seaoil, and Shell will slash gasoline prices by PHP0.80 per liter, and diesel prices by PHP0.85 per liter. Seaoil and Shell said they will reduce… Read More
APEC reform agenda to prioritize regional recovery, resilience
November 2, 2020, 12:34 pm
JAKARTA – Asia-Pacific Economic Cooperation (APEC) member economies should act decisively so the next structural reform agenda facilitates regional recovery and resilience against crises and shocks and not solely tackling challenging tasks, APEC Policy Support Unit’s new report said. The… Read More
DTI wants better version of CREATE bill to lure FDIs
October 30, 2020, 8:21 pm
MANILA – Passing the Corporate Recovery and Tax Incentives for Enterprises (CREATE) bill into law will be critical in attracting foreign investors to do business in the Philippines as the country pushes for economic recovery amid the pandemic, a trade official said. At the virtual… Read More
BSP's 28-day bills interest rate rise anew
October 30, 2020, 8:00 pm
MANILA – Sustained robustness of domestic liquidity pushed interest rate of the Bangko Sentral ng Pilipinas’ (BSP) 28-day bills higher on Friday. Average rate of the debt paper increased to 2.0367 percent from 2.0273 percent during the auction last October 23. BSP offered the securities for… Read More
'V-shape' recovery on consumer spending seen in 2021
October 30, 2020, 7:46 pm
MANILA – A unit of Fitch Group forecasts a 'V-shape' recovery in consumer spending in the country by 2021. In its commentary released on Friday, Fitch Solutions projected that the country’s household spending next year will grow by 5.7 percent from this year’s contraction of 8 percent. It… Read More
PH stocks index recovers, peso ends sideways vs. USD
October 30, 2020, 6:29 pm
MANILA – The Philippines' main equities index ended its three-day slide Friday as the peso ended trade sideways, partly on news of lower weekly jobless claims in the US before the elections. After days of being battered by risk-off sentiments ahead of the November 3 presidential polls in the US… Read More
Retail biz to drive Del Monte Philippines Inc.'s '20 earnings
October 30, 2020, 6:01 pm
MANILA – Del Monte Philippines Inc.’s (DMPI) retail segment is seen to drive business growth for the fiscal year 2020 amidst the pandemic. DMPI Chief Financial Officer (CFO) and Treasurer Parag Sachdeva said their retail branded business “has remained resilient and growing” unlike the… Read More
BSP eyes October ’20 inflation at 2.3%
October 30, 2020, 5:22 pm
MANILA – Monetary officials forecast a flat movement in the rate of price increases for October 2020 at 2.3 percent, similar to the previous month's level. In a Viber message to journalists Friday, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said the central bank’s Department… Read More
Gov’t urged to strictly enforce rules on imported goods
October 30, 2020, 4:23 pm
MANILA – A consumer group on Friday urged the government to strictly implement rules and regulations on imported products, especially food and farm produce, so as not to put the consumers’ health at risk. Laban Konsyumer, Inc. (LKI) president Victorio Mario Dimagiba, who is a former trade… Read More
Economist eyes PH gov't debt to remain sustainable
October 29, 2020, 7:30 pm
MANILA – The Philippine government’s debt is expected to remain sustainable in the next years as it is still below the international threshold of 60 percent of domestic output. On Thursday, the Bureau of the Treasury (BTr) reported that the total outstanding liabilities of the government… Read More
BSP eyes below 2% inflation in Dec. '20, Jan. '21
October 29, 2020, 7:09 pm
MANILA – Monetary officials have forecast inflation to dip to less than 2 percent in December 2020 and January 2021 but assured the public that this is not worrisome and will only be due to higher year-ago rates. In a briefing streamed over the Bangko Sentral ng Pilipinas’ (BSP) Facebook page… Read More
PH oil refinery players would come back, economist says
October 29, 2020, 6:03 pm
MANILA – Juwai IQI global chief economist Shan Saeed sees that oil refinery players in the Philippines would come back as demand will pick up once economic pressure due to coronavirus disease 2019 (Covid-19) pandemic eases. “I think players would come back as at Juwai IQI we expect prices to… Read More
PH stocks down anew, peso ends sideways vs. USD
October 29, 2020, 4:10 pm
MANILA – Sell-offs reigned at the local bourse on Thursday ahead of the November 3 US presidential polls, as well as concerns over the rising coronavirus disease 2019 (Covid-19) cases in the US and some parts of Europe. The Philippine Stock Exchange index (PSEi) shed 2.01 percent, or 128.40… Read More
Security Bank assures clients of readiness on Nov. 1-2 holidays
October 29, 2020, 3:45 pm
MANILA – Security Bank Corporation (Security Bank) is advising account holders to call the bank’s customer hotline and access its digital touch points for any assistance during the All Saints’ Day and All Souls Day holidays. This, as all its branches will be closed on November 1 (Sunday), a… Read More
DTI cites need to raise local content of manufactured goods
October 29, 2020, 2:52 pm
MANILA – Department of Trade and Industry (DTI) Secretary Ramon Lopez has underscored the need to increase the local content of manufactured goods in the country to lessen the domestic producers’ dependence on imports. Lopez told the Philippine News Agency that a big chunk of the country’s… Read More
