Business
DTI chief underscores need to bring back consumer confidence
October 8, 2020, 7:17 pm
MANILA – Department of Trade and Industry (DTI) Secretary Ramon Lopez underscored on Thursday the importance of safe reopening of businesses to bring back consumer confidence. At the launch of the “Ingat Angat Tayong Lahat” campaign, Lopez noted that despite the government allowing the… Read More
Diokno eyes digital bank policies before year-end
October 8, 2020, 7:11 pm
MANILA – Policies on the establishment of digital banks are expected to be ready before end-2020, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said on Thursday. “The BSP is in the final stages of the policy formulation process. We hope to issue the policy before the end of the… Read More
Cebu Pacific plans to place self-bag tag kiosks at more airports
October 8, 2020, 6:51 pm
MANILA – To further maximize contactless transactions and minimize physical contact, local carrier Cebu Pacific (CEB) plans to put up self-bag tag kiosks at other Philippine airports where it operates, an executive said on Thursday. "As of now, these kiosks are only available in NAIA T3 (Ninoy… Read More
Peso, stocks rise on positive news here, overseas
October 8, 2020, 6:47 pm
MANILA – Assurance that passage of the proposed 2021 national budget will not be hampered by the House of Representatives’ session suspension partly resulted to the sideways close of the peso and the rise of the Philippines’ main stocks index Thursday. The local currency finished the… Read More
DTI-Russia talks on vaccine production make headway
October 8, 2020, 6:41 pm
MANILA – Discussions on the trial and possible manufacture of the Russian Covid-19 vaccine in the Philippines are progressing as the Department of Trade and Industry (DTI) and the Russian embassy here are set for another round of talks on the matter next month. This, after DTI Secretary Ramon… Read More
PCCI submits annual PBC resolutions to Duterte
October 8, 2020, 5:20 pm
MANILA – The Philippine Chamber of Commerce and Industry (PCCI), the country’s largest business organization, on Thursday submitted its annual Philippine Business Conference (PBC) resolutions to President Rodrigo Duterte. At the closing ceremony of the 46th PBC, its chairperson Enunina Mangio… Read More
RTL, RCEF to regain PH rice sector’s strength, resiliency
October 8, 2020, 5:18 pm
MANILA – Department of Agriculture (DA) Secretary William Dar has reiterated the benefits of the Rice Tariffication Law (RTL) and the Rice Competitiveness Enhancement Fund (RCEF), saying these reforms will regain the strength and resiliency of the Philippine rice sector. At the RTL webinar on… Read More
Add'l initiatives needed to boost rice industry’s competitiveness
October 8, 2020, 4:58 pm
MANILA – The Rice Tariffication Law (RTL) needs other initiatives such as the Department of Agriculture’s (DA) Rice Roadmap to further boost competitiveness and supply issues of the rice farming sector. During a webinar featuring discussions on the law on Thursday, Acting Socioeconomic… Read More
Slower M3 growth factor for another BSP rate cut in '21: analyst
October 8, 2020, 4:30 pm
MANILA – An economist of the MUFG Global Markets Research forecasts an additional cut in the Bangko Sentral ng Pilipinas’ (BSP) key rates but this is projected to happen by 2021 when the growth of domestic liquidity (M3) has slowed to around 10 percent. In a virtual briefing Thursday, Sophia… Read More
Billionaires' wealth hits $10.2-T amid pandemic
October 8, 2020, 1:39 pm
ANKARA – The total wealth of billionaires across the globe has risen to $10.2 trillion as of the end of July -- a new high after the year's V-shaped rebound in asset prices, according to a report by PwC and Swiss bank UBS. "This level surpasses the previous peak of $8.9 trillion, reached at the… Read More
Green finance needed to meet infra financing gap
October 7, 2020, 8:37 pm
MANILA – A new book by the Asian Development Bank (ADB) urges policy makers in Southeast Asia to use green and innovative financing approaches to help catalyze the estimated USD3.1 trillion investments required for climate-adjusted infrastructure in the region by 2030. These investments from… Read More
DTI targets to roll out AI roadmap next year
October 7, 2020, 6:44 pm
MANILA – The Department of Trade and Industry (DTI) targets to implement the roadmap for the country’s artificial intelligence (AI) next year, Secretary Ramon Lopez said. At the virtual launch of AI Coalition Wednesday, Lopez said the roadmap will help the country to be an “AI center for… Read More
Term deposit facility rates rise across-the-board
October 7, 2020, 6:41 pm
MANILA – The average rates of all Bangko Sentral ng Pilipinas’ (BSP) term deposit facility (TDF) tenors increased Wednesday as demand remained high. The rate of the seven-day facility increased to 1.8431 percent, the 14-day to 1.8492 percent, and the 28-day to 1.8445 percent. These were at… Read More
Gov’t reviews mining assets: DOF chief
October 7, 2020, 5:04 pm
MANILA – The government is firm on reviving its mining assets to boost job opportunities and lift economies around the mine sites, Finance Secretary Carlos Dominguez III said. “Definitely, we are pushing for the revival of the mining industry,” he said during the press conference of the… Read More
Stocks, peso weaken on stimulus package concerns in US
October 7, 2020, 5:01 pm
MANILA – The Philippine Stock Exchange index (PSEi) slipped for the third consecutive day Wednesday while the peso also ended the day weaker against the greenback after US President Donald Trump doused hopes of another stimulus package soon. The main stocks gauge shed 0.72 percent, or 42.76… Read More
IMF chief warns of ‘long ascent’ toward global recovery
October 7, 2020, 2:56 pm
WASHINGTON – As the global economy gradually recovers from the coronavirus disease 2019 (Covid-19) crisis, International Monetary Fund (IMF) Managing Director Kristalina Georgieva on Tuesday said all countries are facing the long ascent -- a difficult climb that will be "long, uneven, and… Read More
PH market now more open to startups
October 7, 2020, 1:58 pm
MANILA – The coronavirus disease 2019 (Covid-19) pandemic has made big companies notice startups as they have the digital knowledge to enable the ‘big guys’ to operate amid the global health crisis. In an online event of the German-Philippine Chamber of Commerce and Industry (GPCCI)… Read More
Inflation remains low, stable but upside risks remain: NEDA
October 7, 2020, 12:38 pm
MANILA – The overall inflation rate recorded in September 2020 remains low and stable but some upside risks remain, the National Economic and Development Authority (NEDA) said. The country’s overall inflation slightly eased to 2.3 percent in September 2020 from 2.4 percent in the… Read More
World trade to fall by 9.2% in 2020: WTO
October 7, 2020, 8:30 am
GENEVA – World merchandise trade is expected to fall by 9.2 percent in 2020, followed by a 7.2-percent rise in 2021, the World Trade Organization (WTO) said on Tuesday in its revised trade forecast. In April, the WTO had predicted a decline in the volume of world merchandise trade for 2020… Read More
Gradual reopening to bring back vibrant economy: DTI chief
October 6, 2020, 8:08 pm
MANILA – Trade Secretary Ramon Lopez said the country must continue to reopen business activities to bring back jobs and the vibrant Philippine economy. Commenting on the latest survey of the World Bank, the National Economic and Development Authority, and the Department of Finance, Lopez said… Read More
