Business
Digital money brings benefits, risks: IMF
October 20, 2020, 12:04 pm
ANKARA – The International Monetary Fund (IMF) said Monday the push by central banks to develop digital currencies entails both risks and benefits at the global and local levels. According to a new report by the international financial body, rapid progress in digital technologies has… Read More
BSP eyes credit risk database for MSMEs
October 19, 2020, 8:14 pm
MANILA – Micro, small and medium enterprises’ (MSMEs) access to financing are expected to further widen through a statistical reference tool being developed jointly by the Bangko Sentral ng Pilipinas (BSP) and the Japanese government. “This (database) will lessen the dependence of banks on… Read More
Lifting of oil exploration ban to pump prime PH amid pandemic
October 19, 2020, 7:47 pm
MANILA – The government’s unilateral decision to lift the moratorium on oil and gas exploration in the West Philippine Sea will bring investments that create jobs in the next five years, the top energy official said Monday. In a Palace briefing, Department of Energy (DOE) Secretary Alfonso… Read More
Prices of gasoline down; diesel, kerosene up anew
October 19, 2020, 5:32 pm
MANILA – For two straight weeks now, oil firms will slash prices of gasoline but will increase those of diesel and kerosene products. Starting Tuesday morning, Chevron, Cleanfuel, Flying V, Petro Gazz, PTT Philippines, Seaoil, and Shell will cut gasoline prices by PHP0.25 per liter, and will… Read More
T-bill rates almost unchanged
October 19, 2020, 5:13 pm
MANILA – The continued strong supply of domestic liquidity resulted in the sideways movement of Treasury bill (T-bill) rates Monday. The rate of the 91-day paper moved to 1.086 percent from 1.088 percent during the auction last Oct. 12. It was offered for PHP5 billion and was fully awarded.… Read More
DTI chief sees ‘perfect balance’ in current quarantine rules
October 19, 2020, 4:48 pm
MANILA – Trade Secretary Ramon Lopez considers the current community quarantine measures as a “perfect balance” in managing the health crisis and reopening of the economy. During the Laging Handa public briefing Monday, 95 percent of sectors are allowed to operate as the Inter-Agency Task… Read More
JTI to hike local tobacco procurement to aid Covid-hit farmers
October 19, 2020, 2:04 pm
MANILA – Japan Tobacco International (Philippines) Inc. (JTI) is studying the possibility of increasing its procurement of locally produced tobacco from the current 4.6 million kilograms (kg) it has programmed to buy in 2021 to support local growers reeling from the economic impact of the… Read More
Megawide secures 3 housing contracts with PHirst Park Homes
October 18, 2020, 6:24 pm
MANILA – Engineering and infrastructure conglomerate Megawide Construction Corporation, through its Precast Unit, secured three new contracts with Century Properties’ PHirst Park Homes, Inc. (PPHI) for the construction of over 4,700-row housing units in San Pablo and Calamba, Laguna, and… Read More
3 MSMEs in Antique qualify for DTI’s Bagwis Award
October 16, 2020, 8:53 pm
SAN JOSE DE BUENAVISTA, Antique – Three micro, small and medium enterprises (MSMEs) in the province of Antique were able to hurdle the regional evaluation for the Department of Trade and Industry's (DTI) Bagwis Award. The recognition is given to businesses that uphold the rights of consumers and… Read More
BSP's 28-day paper rate rises
October 16, 2020, 6:51 pm
MANILA – Demand for the Bangko Sentral ng Pilipinas’ (BSP) 28-day securities remains, resulting in an increase in the debt paper’s interest rate. Data released by the central bank Friday showed that average accepted yield of the debt paper rose to 1.8956 percent from 1.8487 percent during… Read More
Peso ends sideways vs. USD, stocks index slides
October 16, 2020, 6:26 pm
MANILA – The Philippine peso ended Friday sideways against the US dollar due partly to record-high foreign exchange reserves of the country while the main equities index slipped after a two-day rally. The local currency ended the week at 48.625 against the greenback, sideways from its 48.68… Read More
PNB chief eyes 'reasonable number' for bank's 2020 net income
October 16, 2020, 5:59 pm
MANILA – A “reasonable number” is being considered for Tan-led Philippine National Bank’s (PNB) income this 2020, given the huge provisioning as of August and the improvement of the domestic economy as of the third quarter. In a virtual briefing Friday, PNB President and chief executive… Read More
Investments to come in as PH lifts ban on WPS drilling: DOE
October 16, 2020, 5:21 pm
MANILA – Investments in oil and gas drilling are expected to come in as the government lifted the moratorium on energy exploration in the West Philippine Sea (WPS), Department of Energy (DOE) Secretary Alfonso Cusi said Friday. Cusi said in a virtual press conference that the lifting of the oil… Read More
Contraction in OFW remittances seen until 2021
October 15, 2020, 8:59 pm
MANILA – The continued job losses among overseas Filipino workers (OFWs) are expected to hurt remittance inflows to the Philippines until next year, with the contraction this year expected to hit as much as 10 percent. On Thursday, the Bangko Sentral ng Pilipinas (BSP) reported the reversal of… Read More
Nat'l ID boost to BSP's financial inclusion bid
October 15, 2020, 8:48 pm
MANILA – The national identification (ID) will not only provide a foundational ID system in the country but will also ensure that all Filipinos will be included in the financial system. This was stressed by Vicente de Villa III, managing director of Bangko Sentral ng Pilipinas (BSP) Financial… Read More
PNOC partners with US firm to explore opportunities in LNG infra
October 15, 2020, 8:44 pm
MANILA – State-run Philippine National Oil Company (PNOC) and United States-based energy firm New Fortress Energy LLC signed a memorandum of understanding (MOU) to identify potential opportunities in advancing the development of liquefied natural gas (LNG) infrastructure in the country. In a… Read More
DTI reminds public to be smart consumer as Christmas nears
October 15, 2020, 8:13 pm
MANILA – The Department of Trade and Industry (DTI) reminded on Thursday the public to be wise in buying goods and products as Christmas season nears and ensure that these are compliant with the suggested retail price (SRP). In an interview, DTI Secretary Ramon Lopez urged consumers to report… Read More
PCCI asks landlords to give rent relief to MSMEs
October 15, 2020, 8:10 pm
MANILA – To help micro, small, and medium enterprises (MSMEs) continue their operations amid the challenging business environment, the Philippine Chamber of Commerce and Industry (PCCI) appeals to landlords to provide rent relief for stall and store lessees. In a statement Thursday, PCCI… Read More
Stocks index rise; peso ends sideways
October 15, 2020, 5:31 pm
MANILA – A clearer picture of a stimulus package not materializing before the US presidential polls next month addressed investors’ anxieties on the issue and boosted the main equities index Thursday but the peso ended sideways. The Philippine Stock Exchange index (PSEi) rose by 0.22 percent,… Read More
Finance firm expands into Cebu to aid post-Covid recovery
October 15, 2020, 1:02 pm
CEBU CITY – A finance company has expanded into the Cebu lending market despite the coronavirus disease 2019 (Covid-19) crisis as it seeks to help businesses recover in this economic center of the south. Right Choice Finance Corp. (RCF), headquartered in Makati City, announced it is looking to… Read More
