Business
Tech support firm expands, brings 1.2K jobs for Ilonggos
October 27, 2020, 6:22 pm
ILOILO CITY – Asurion, a global technology support firm, is expanding operations to this city, bringing in 1,200 jobs for Ilonggos and responding to the growing consumer demand on tech support for phones and smart home devices. Gareth Boulton, Asurion director of care operations in the… Read More
Consumer group wants senior, PWD discounts for online purchases
October 27, 2020, 5:15 pm
MANILA – Consumer advocate Laban Konsyumer Inc. (LKI) said on Tuesday discounts for senior citizens and persons with disabilities (PWDs) should also be applicable in online transactions. In a statement, LKI president Victorio Mario Dimagiba said the group submitted a letter to the Department of… Read More
Stocks index ends 6-day rally; peso almost flat
October 27, 2020, 4:48 pm
MANILA – The local main equities index ended its six-day rally Tuesday due to concerns on the rising coronavirus disease 2019 (Covid-19) infections in the US and Europe, but the peso managed to stay firm against the greenback. The Philippine Stock Exchange index (PSEi) shed by 1.17 percent, or… Read More
More companies resume operations at Bataan freeport
October 27, 2020, 3:38 pm
MARIVELES, Bataan – More companies are back to business in the Freeport Area of Bataan (FAB) here after the temporary suspension of their operations last March due to the community quarantine, the Authority of the Freeport Area of Bataan (AFAB) said on Tuesday. Engineer Emmanuel Pineda, AFAB… Read More
SM Prime posts P14.4-B net income in 9 months
October 26, 2020, 7:57 pm
MANILA – SM Prime Holdings Inc. (SM Prime), one of the leading integrated property developers in Southeast Asia, reported PHP14.4 billion consolidated net income in the first nine months of 2020, down by 48 percent from PHP27.6 billion in the same period last year. Consolidated revenue also… Read More
No substantial change in T-bill rates
October 26, 2020, 7:52 pm
MANILA – There was no substantial change in Treasury bills (T-bills) on Monday as domestic liquidity continued to drive demand for the debt paper. The average rate of the 91-day paper moved to 1.079 percent, the 182-day to 1.543 percent, and the 364-day to 1.791 percent. These were at 1.086… Read More
Stocks rise as peso ends sideways on hopes for US stimulus
October 26, 2020, 6:28 pm
MANILA – The Philippine Stock Exchange index (PSEi) ended Monday higher while the peso moved sideways against the US dollar in hopes for the US stimulus program. The main stocks index closed the week’s first trading day up by 0.11 percent, or 7.13 points, to 6,491.19 points. All Shares,… Read More
Medium firms now included in CARES 2 loan program
October 26, 2020, 6:20 pm
MANILA – Medium-sized enterprises can now borrow from Small Business (SB) Corporation’s Covid-19 Assistance to Restart Enterprises (CARES) program funded by the Bayanihan to Recover as One (Bayanihan 2) Act. The Bayanihan 2 allotted PHP10 billion for the loan programs of SB Corp. to assist… Read More
Emperador’s 9-month income hits P5.9-B
October 26, 2020, 6:15 pm
MANILA – Emperador Inc. has recorded 11-percent growth in its net income to PHP5.9 billion during the first nine months of the year, as international sales of its brandy and whisky products in various markets around the world boosted its bottom line. During the third quarter alone, the company… Read More
Converge ICT to use P29.1-B IPO proceeds for expansion
October 26, 2020, 6:11 pm
MANILA – Listed fixed broadband provider Converge Information and Communications Technology Solutions Inc. (Converge ICT) raised about PHP29.1 billion from its initial public offering (IPO), the second largest in the local bourse, despite the pandemic. In a briefing Monday, Converge ICT founder… Read More
Oil firms roll back diesel, kerosene prices
October 26, 2020, 2:52 pm
MANILA – Oil firms are expected to roll back prices of diesel and kerosene starting Tuesday morning. In separate advisories, Cleanfuel, Petro Gazz, Shell, and Seaoil will slash prices of diesel by PHP0.25 per liter. Kerosene prices will also decrease by PHP0.15 per liter. Oil players… Read More
Landbank helps 2.4M farmers, fishermen
October 26, 2020, 1:05 pm
MANILA – In line with its special focus to serve the needs of the country’s agriculture sector, the Land Bank of the Philippines (Landbank) reported it has assisted over 2 million small farmers and fishers (SFFs) nationwide. As of end-September, Landbank assisted a total of 2,396,259 SFFs,… Read More
DOF takes steps to untie legal knot on gov’t-held mining assets
October 25, 2020, 5:12 pm
MANILA – The Department of Finance (DOF) is pursuing steps to untangle the legal issues tying down idle mining interests held by the government in an effort to speed up the privatization of these assets and revive their operations. According to the Privatization and Management Office (PMO),… Read More
Developer introduces new brand
October 24, 2020, 11:55 am
MANILA – Aside from developing quality condominium communities designed for end-users and young families, Quadruple A developer DMCI Homes is now eyeing to build homes that are fit for mobile and experience-oriented lifestyle under a new product format. Unlike previous DMCI Homes projects, which… Read More
UNCTAD forecasts PH exports contraction to ease in Q3
October 23, 2020, 6:47 pm
MANILA – The United Nations Conference on Trade and Development (UNCTAD) sees Philippine exports to decline by 8.7 percent in the third quarter (Q3) of the year, easing from the double-digit contraction in the April to June period. This is lower from the 29-percent decline in export revenues… Read More
BSP 28-day securities rate up anew
October 23, 2020, 6:44 pm
MANILA – High liquidity condition in the domestic economy continues to push the rate of the Bangko Sentral ng Pilipinas’ (BSP) 28-day securities. Data released by the central bank showed that the average rate of the debt paper rose to 2.0273 percent from last week’s 1.8956 percent. BSP’s… Read More
Expanding financial inclusion to help in PH's recovery: Diokno
October 23, 2020, 6:16 pm
MANILA – Improving the financial inclusion landscape in the Philippines is seen to further help in the recovery of the domestic economy from the pandemic. Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno, in a taped speech during the Pru Life UK Online Investment briefing Friday, said… Read More
PH stocks index, peso end trade up
October 23, 2020, 5:49 pm
MANILA – The Philippine Stock Exchange index (PSEi) and the peso both gained Friday as optimism continues to reign over various markets. The main equities index rose by 2.20 percent, or 139.43 points, to 6,484.06 points. All Shares increased by 1.88 percent, or 71.20 points, 3,859.95 points.… Read More
FPI wants to tweak rules on product standards
October 23, 2020, 5:32 pm
MANILA – The Federation of Philippine Industries (FPI) on Friday urged the Department of Trade and Industry (DTI) to fine-tune rules on product standards. In a statement, FPI chairman Jesus Arranza said consumers are at greater risk of buying substandard goods amid the coronavirus disease 2019… Read More
PH firm listed in 2020 Inclusive Fintech 50
October 23, 2020, 2:29 pm
MANILA – First Circle, a Philippine-based firm that provides financing to micro, small and medium enterprises (MSMEs), was named as one of the inclusive startups globally in the 2020 Cohort Inclusive Fintech 50. Of the 403 financial technology (fintech) firms from 111 countries, the 50 winners… Read More
