Business
Pepsi PH activates online platform for home deliveries
October 6, 2020, 7:50 pm
MANILA – Pepsi-Cola Products Philippines Inc. (PCPPI), the exclusive manufacturer of PepsiCo beverages in the country, has expanded to e-commerce business to widen customer reach amid community quarantine measures. In a statement Tuesday, PCPPI said its e-commerce… Read More
Inter-island trading to push economic recovery in W. Visayas
October 6, 2020, 7:46 pm
BACOLOD CITY – A leader of the business community in Negros Occidental is pushing for the resumption of inter-island and inter-province trading across Negros, Panay, and Cebu as one of the measures for economic recovery amid the coronavirus disease 2019 (Covid-19) crisis. Frank Carbon, chief… Read More
Economist cites possible improvements in Rice Tariffication Law
October 6, 2020, 7:05 pm
MANILA – An economist said the Rice Tariffication Law (RTL) has effectively boosted domestic rice supply and brought down prices but cited possible adjustments on the law to further protect local farmers. RTL was signed into law in February 2019 and took into effect the following month. It… Read More
DTI, Nestlé ink deal for P4.8-B rural agro-enterprise project
October 6, 2020, 5:42 pm
MANILA – The Department of Trade and Industry (DTI) signed Tuesday a memorandum of understanding (MoU) with Nestlé Philippines, Inc. that will integrate the latter's coffee project to the PHP4.78-billion Rural Agro-enterprise Partnership for Inclusive Development and Growth (RAPID Growth)… Read More
3-year T-bond rate declines
October 6, 2020, 5:34 pm
MANILA – The rate of three-year Treasury bond (T-bond) declined Tuesday due in part to report about the further deceleration of the September inflation rate. Average rate of the debt paper slipped to 2.182 percent from 2.279 percent when it was freshly offered during an auction last September… Read More
Economist discounts further cuts in BSP's key rates
October 6, 2020, 5:30 pm
MANILA – Further deceleration of the Philippines’ inflation rate in September made economists discount further cuts in the Bangko Sentral ng Pilipinas’ (BSP) key policy rates in the near term. The rate of price increases slowed to 2.3 percent last September from the previous month’s 2.4… Read More
BSP policies, fiscal measures to support economic recovery
October 6, 2020, 4:29 pm
MANILA – Philippine monetary officials continue to assure their readiness to help bolster domestic growth as economic activities remain weak and inflation subdued. This after the rate of price increases further slowed to 2.3 percent last September from month-ago’s 2.4 percent, bringing the… Read More
Stocks dip anew; peso stays firm vs. USD
October 6, 2020, 4:23 pm
MANILA – The local stock barometer declined into the negative territory on Tuesday due to anxieties on the developments on coronavirus disease (Covid-19) but the peso managed to stay firm against the US dollar. The Philippine Stock Exchange index (PSEi) lost 0.48 percent, or 28.31 points, to… Read More
48% firms in PH cut jobs amid pandemic: poll
October 6, 2020, 3:01 pm
MANILA – A survey done by the World Bank, the National Economic and Development Authority, and the Department of Finance shows 48 percent of companies in the Philippines have reduced the number of their employees amid the Covid-19 pandemic. The survey was among 74,031 firms from July 7 to 14 to… Read More
Harnessing digital technologies help PH overcome pandemic impact
October 5, 2020, 8:18 pm
MANILA – Rapid adoption of digital technologies can help the Philippines overcome the impact of the coronavirus disease 2019 (Covid-19) pandemic, recover from the crisis, and achieve its vision of becoming a middle-class society free of poverty, according to the report released Monday by the… Read More
Insurance industry seen to be back to pre-Covid situation by '22
October 5, 2020, 7:38 pm
MANILA – Insurance Commissioner Dennis Funa is optimistic for a recovery of the insurance industry in the next three years since the Philippine economy’s fundamentals remain strong. “In spite of all the difficulties we have in 2020 there are reasons to be optimistic,” Funa said during the… Read More
BIR, BOC surpass September collection goals
October 5, 2020, 7:35 pm
MANILA – Both the Bureau of Customs (BOC) and the Bureau of Internal Revenue (BIR) exceeded their September 2020 collection goals. Department of Finance (DOF) preliminary data show that BOC exceeded its PHP37.72-billion revenue goal for the month by 33.17 percent after collections reached… Read More
T-bill rates down on expectations of lower September inflation
October 5, 2020, 7:24 pm
MANILA -- The average rates of Treasury bills (T-bills) declined across-the-board Monday in anticipation of further deceleration of domestic inflation rate in September, which the Philippine Statistics Authority (PSA) is scheduled to report on Tuesday. The rate of the 91-day paper declined to… Read More
Gasoline, kerosene prices up anew Tuesday
October 5, 2020, 4:59 pm
MANILA – Oil companies will implement price hikes on gasoline and kerosene products starting Tuesday morning. Chevron, Cleanfuel, Flying V, Petro Gazz, Petron, Phoenix Petroleum, Seaoil, Shell, Total, and Unioil said in separate advisories that they will raise gasoline prices by PHP0.10 per… Read More
Stocks start week down, peso stays firm vs. USD
October 5, 2020, 4:00 pm
MANILA -- After a three-day rally, the Philippine Stock Exchange index (PSEi) succumbed to risk-off sentiments Monday but the peso managed to keep its footing against the US dollar. The main stocks index declined by 1.008 percent, or 60.45 points, to 5,938.95 points. Most of the other counters… Read More
Port of Clark exceeds September target with P162-M collection
October 5, 2020, 3:56 pm
CITY OF SAN FERNANDO, Pampanga – The Bureau of Customs-Port of Clark on Monday said it collected some PHP162 million in revenue taxes for the month of September, which is 50.43 percent more than its monthly target, amid the challenges brought by coronavirus disease 2019 (Covid-19) pandemic. A… Read More
SMC corn purchases hit over 400K metric tons
October 5, 2020, 3:01 pm
MANILA – San Miguel Corporation (SMC) reported that its food unit, San Miguel Foods Inc., has purchased a total of 436,209 metric tons of corn from local farmers as of Sept. 30, as part of efforts to help boost farm incomes and ensure the country’s food security in the midst of the… Read More
Fitch Solutions cuts 2020 PH inflation forecast
October 5, 2020, 2:55 pm
MANILA – Fitch Solutions has slashed its average inflation forecast for 2020 after noting subdued domestic activity because of the pandemic. In a report, the unit of Fitch Group now forecasts this year’s inflation to average at 2.5 percent from 2.7 percent previously, but kept its 3-percent… Read More
Shakey’s pursues plastic neutral certification
October 5, 2020, 1:36 pm
MANILA – Shakey’s Pizza Asia Ventures, Inc. has signed an agreement with Plastic Credit Exchange (PCEx) for the certification of its plastic neutrality, making it the first food service company in the Philippines to pursue such third-party verification for a plastic offsetting initiative. In… Read More
PISI intensifies campaign vs. substandard steel products
October 5, 2020, 12:38 pm
MANILA – The Philippine Iron and Steel Institute (PISI) has vowed to intensify its campaign against substandard steel products after finding a new batch of substandard and unmarked reinforcing bars (rebars) in hardware stores in Central Luzon. PISI President Ronald Magsajo said unmarked rebars… Read More
