Business
Cebu Landmasters’ 9-month housing sales up 14%
October 22, 2020, 8:29 pm
MANILA – Cebu Landmasters Inc (CLI), the leading developer in Visayas and Mindanao (VisMin), posted PHP10.5 billion reservation sales in the first nine months of the year, a 14-percent increase year-on-year. In a statement Thursday, CLI said it registered PHP3.1 billion reservation sales in the… Read More
Diokno discounts BSP digital currency issuance
October 22, 2020, 7:19 pm
MANILA – A central bank digital currency (CBDC) will not materialize in the Philippines within the term of Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno, which is until 2023. “I don’t think so. Most central banks said they will not issue CBDC within the next five years. So not… Read More
BSP hikes BOP surplus forecasts
October 22, 2020, 7:10 pm
MANILA – Philippine monetary authorities have revised upwards the Bangko Sentral ng Pilipinas’ (BSP) balance of payments (BOP) projections based on the expected global economic recovery next year, improvement in remittances, foreign direct investments (FDIs), and foreign reserves. The latest… Read More
Japanese wiring harness maker invests P230-M in PH
October 22, 2020, 6:14 pm
MANILA – The Philippines has secured a new investment from another Japanese wiring harness manufacturer, the Department of Trade and Industry (DTI) bared Thursday. In a statement, the DTI said Yokowo Co. Ltd. has chosen the Philippines, among other Southeast Asian nations, for its new… Read More
Stocks index rise anew; peso ends sideways vs. greenback
October 22, 2020, 5:09 pm
MANILA – Risk-on sentiments in hopes of the possible approval of another US stimulus package buoyed both the local main stocks index and the peso. The Philippine Stock Exchange index (PSEi) rose for the fourth consecutive day, rising by 1.05 percent, or 66.04 points, to 6,344.63 points on… Read More
Sustained recovery in poultry seen amid upcoming holidays
October 22, 2020, 4:36 pm
MANILA – The upcoming holidays will support the renewed demand for poultry and other meat products after the pandemic and lockdown measures affected the local supply and demand for these goods, Cargill Philippines president Sonny Catacutan said Thursday. In a virtual media briefing, Catacutan,… Read More
SMC to buy plastic wastes to power cement facilities
October 22, 2020, 2:58 pm
MANILA – San Miguel Corporation (SMC) is ramping up its efforts to help manage the country's solid wastes and create more livelihood opportunities in the pandemic by buying up bigger volumes of plastic wastes to fuel its cement manufacturing facilities. This latest initiative came after a string… Read More
Google PH launches free listing of products for MSMEs
October 22, 2020, 8:40 am
MANILA – Google Philippines now allows businesses to list their products on the Google Shopping tab for free to help micro, small, and medium enterprises (MSMEs) recover. Bernadette Nacario, Google Philippines country director, said in a Google online event Wednesday that this is part of… Read More
Credit score info applications rise during pandemic
October 21, 2020, 8:03 pm
MANILA – Inquiries and requests for credit score information increased significantly during the pandemic as more people apply for loans to help them cope with the crisis. Lawyer Aileen Amor-Bautista, Credit Information Corporation (CIC) officer-in-charge president and chief executive officer,… Read More
APAC businesses urged to invest more in digital technology
October 21, 2020, 6:46 pm
MANILA – Businesses in the Asia-Pacific region are urged to continue investing in digital technology to survive and thrive amid the coronavirus disease 2019 (Covid-19) pandemic. During the Asia-Pacific Economic Cooperation (APEC) Business Advisory Council (ABAC) Philippines forum on digital… Read More
Flat nickel export volume, higher value seen this year
October 21, 2020, 6:23 pm
MANILA – Philippine miners are expecting to export the same volume of nickel this year but will still gain more in terms of value as nickel prices have significantly increased, Marcventures Holdings, Inc. (MHI) president Isidro Alcantara Jr. said Wednesday. In a virtual press conference of the… Read More
Stocks rise anew; peso ends sideways vs. USD
October 21, 2020, 5:50 pm
MANILA – The main stocks index rose for the third consecutive day on Wednesday due in part to positive news both here and overseas that also benefited the peso. The Philippine Stock Exchange index (PSEi) rose by 2.71 percent, or 165.88 points, to 6,278.59 points. Risk-on sentiments lifted all… Read More
BSP's term facility rates rise
October 21, 2020, 5:15 pm
MANILA – The Bangko Sentral ng Pilipinas (BSP) did not offer anew the 28-day term deposit facility (TDF) Wednesday but oversubscriptions were registered for both the seven- and 14-day facilities. Data released by the central bank showed that the rate of the shortest tenor rose to 1.8813 percent… Read More
Bank exec cites lesser need for physical branches
October 20, 2020, 8:01 pm
MANILA – Opening up new bank branches is now less critical compared to before the pandemic since going digital has proven its effectiveness in bringing in more people to be part of the financial system, bank executive said Tuesday. Ramon Duarte, Union Bank of the Philippines (Unionbank)… Read More
DTI opens CARES fund for MSME loan to pay workers’ 13th month
October 20, 2020, 7:49 pm
MANILA – Same terms will be applied for small-scale business owners that would like to borrow from the Covid-19 Assistance to Restart Enterprises (CARES) fund for the 13th month pay of their employees, Trade Secretary Ramon Lopez said. This is after Labor Secretary Silvestre Bello III bared… Read More
10-year bond rate rises
October 20, 2020, 7:21 pm
MANILA – The average rate of the 10-year Treasury bond (T-bond) with a remaining life of 4.9 years rose to 2.782 percent Tuesday due in part to a benign inflation outlook. The rate of the same tenor during an auction last July was 2.759 percent. The Bureau of the Treasury (BTr) offered the… Read More
DTI reinstates certification for local, imported plywood
October 20, 2020, 6:54 pm
MANILA – The Department of Trade and Industry (DTI) has issued a Department Administrative Order (DAO) that reinstates the mandatory product certification of locally manufactured and imported plywood. The DAO 20-06 prescribes the mandatory Philippine standard licensing scheme for plywood… Read More
Implementation of QR code for logistics sector eyed for 2021
October 20, 2020, 6:48 pm
MANILA – A unified quick response (QR) code for the logistics sector will be implemented in 2021 under the National Effort for the Harmonization of Efficient Measures of Inter-related Agencies (NEHEMIA) program of the Anti-Red Tape Authority (ARTA). At the launch of the NEHEMIA program for the… Read More
Stocks rise; peso ends sideways vs. USD
October 20, 2020, 5:28 pm
MANILA – The main equities index rose for the second consecutive session Tuesday while the peso ended the day sideways against the greenback. The Philippine Stock Exchange index (PSEi) gained 1.55 percent, or 93.45 points, to 6,112.71 points. All Shares rose by 1.11 percent, or 40.23 points,… Read More
DOF chief sees GDP at -6% this year
October 20, 2020, 5:23 pm
MANILA – The contraction of the Philippine economy is expected to hit 6 percent this year after the 15-day reimplementation of stricter quarantine measures in Metro Manila and four nearby provinces last August, Finance Secretary Carlos Dominguez III said. This is deeper than the government’s… Read More
