Business
Fitch Solutions eyes wider budget deficit for PH
October 1, 2020, 1:35 pm
MANILA – Fitch Solutions sees a wider budget gap for the Philippine until 2022 due to the expected rise in expenditures despite the projected drop in revenues, but said risks have declined amid the pandemic. In a report dated Sept. 30, the unit of Fitch Group forecasts the government’s budget… Read More
PH manufacturing reaches stable condition in September
October 1, 2020, 10:35 am
MANILA – The IHS Markit reported on Thursday that the Philippines’ manufacturing purchasing managers’ index (PMI) for September breached the 50-mark, signaling stability in the sector. The country’s PMI last month was at 50.1 after recording below 50-level since the start of lockdown… Read More
LPG prices up by P1 per kilo starting Oct. 1
October 1, 2020, 10:21 am
MANILA – Prices of liquefied petroleum gas (LPG) have increased this month effective Thursday. In separate advisories, Petron and Phoenix LPG increased LPG prices by PHP1 per kilogram. Solane-branded LPG also hiked its price this month by PHP0.89 per kilogram. This translates into increments of… Read More
PCCI exec cautions businesses vs. 'NPA' extortion, scams
September 30, 2020, 8:46 pm
DUMAGUETE CITY – A key official of the Philippine Chamber of Commerce of Industry (PCCI) on Wednesday urged businessmen in Negros Oriental to take extra precaution when receiving scam texts or purported extortion messages from people claiming to be New People’s Army (NPA) members.… Read More
Gov’t requests BSP for P540-B funding support
September 30, 2020, 8:39 pm
MANILA – The national government has requested the Bangko Sentral ng Pilipinas (BSP) for a budget support amounting to PHP540 billion. In a Viber message to journalists Wednesday, BSP Governor Benjamin Diokno said the financing will be “settled on or before 29 December 2020, at zero… Read More
Bank exec bullish on lending activities recovery this year
September 30, 2020, 8:35 pm
MANILA – Officials of BPI Family Savings Bank are optimistic of their first variable amortization loan program called Step Up PayPlan after noting that lending activities have improved after the lockdown period. In a virtual launch Wednesday, BPI Family Bank president Ma. Cristina Go said… Read More
Cebu capitol launches ‘Sugbo Negosyo’ for micro traders
September 30, 2020, 8:30 pm
CEBU CITY – The provincial government of Cebu on Wednesday launched the “Sugbo Negosyo”, its post-Covid assistance program for micro entrepreneurs. The provincial government signed a tripartite memorandum of agreement with the Department of Trade and Industry (DTI)-Cebu provincial office… Read More
BSP sees inflation between 1.8%-2.6% in September
September 30, 2020, 7:06 pm
MANILA – The Bangko Sentral ng Pilipinas (BSP) forecasts inflation to stay between 1.8 percent to 2.6 percent this month. In a Viber message to journalists Wednesday, BSP Governor Benjamin Diokno said the forecast range takes into account the lower prices of rice, oil, electricity rates in… Read More
Stocks rise; peso ends sideways
September 30, 2020, 7:03 pm
MANILA – The Philippine Stock Exchange index (PSEi) ended Wednesday higher due to window dressing while the peso closed sideways against the greenback. The main stock index rose by 0.39 percent, or 22.63 points, to 5,864.23 points. All Shares followed with a 0.22-percent rise, or 7.75 points,… Read More
P1-K note with misspelled Duterte name not legal tender: BSP
September 30, 2020, 6:55 pm
MANILA – The PHP1,000 note with a misspelled name of President Rodrigo Roa Duterte, which is spelled as Rodrigo Boa Duterte in the photo circulating online, is fake, the Bangko Sentral ng Pilipinas (BSP) said. In a statement Wednesday, the central bank said it has verified that the banknote… Read More
Power generation share boosts LGU’s Covid-19 response
September 30, 2020, 5:31 pm
MANILA – A program of the Department of Energy (DOE) providing host communities a share from the total electricity sales of the power generation companies is now helping local governments to improve their pandemic response. Amid the Covid-19 outbreak in the country, the DOE issued a circular… Read More
More structural reforms to boost PH recovery
September 30, 2020, 5:27 pm
MANILA – Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno underscored on Wednesday the importance for the government not to lose track of its plan to make the domestic economy bounce strongly from the pandemic. In an interview during the Laging Handa public briefing program, Diokno… Read More
Barrio Fiesta sees opportunities with growing online food biz
September 30, 2020, 3:12 pm
MANILA – Prime Global Corp. (PGC), the owner of Barrio Fiesta Manufacturing Corp., sees new growth opportunities with the increasing number of online food businesses and the rise of “home cooks” amid the pandemic. In a statement on Wednesday, PGC said the company is boosting its online… Read More
Megawide raises P5-B to fund Cebu airport, other projects
September 30, 2020, 2:41 pm
CEBU CITY – Diversified infrastructure conglomerate Megawide Construction Corp. said on Wednesday it is raising as much as PHP5 billion in fresh funds from the capital market to finance future developments at the Mactan - Cebu International Airport (MCIA) and its proposed redevelopment of the… Read More
SEC approves SMC’s P20-B preferred share offering
September 30, 2020, 2:01 pm
MANILA – The Securities and Exchange Commission (SEC) has considered favorably the public offering by San Miguel Corp. (SMC) of preferred shares worth over PHP20 billion under a shelf registration. In its meeting on Sept. 29, the Commission en banc resolved to render effective the company’s… Read More
No overpricing in PPE procurement: DBM
September 29, 2020, 8:41 pm
MANILA –The Department of Budget and Management (DBM) has denied overpricing in the procurement of personal protective equipment (PPE) as alleged by Senator Risa Hontiveros since the agency ensures transparency in their processes. In a statement Tuesday night, the agency said all the documents… Read More
Agribusiness remains Davao's top investment priority
September 29, 2020, 8:32 pm
DAVAO CITY – Agribusiness remains the city's top priority area for investment, especially the export of agricultural products, cold storage facilities, and food terminals, an official said Tuesday.April Marie Dayap, chief of the Davao City Investment Promotions Center (DCIPC), said this during… Read More
Gov’t ready to repay P300-B repurchase deal with BSP
September 29, 2020, 8:24 pm
MANILA – The national government is prepared to repay the PHP300 billion that the Bangko Sentral ng Pilipinas (BSP) extended through a repurchase agreement to help fund the coronavirus disease 2019 (Covid-19) response program. Asked by a journalist if the government is ready to pay the funding… Read More
Local carriers to gradually resume Caticlan flights in October
September 29, 2020, 7:20 pm
MANILA – Local carriers Philippine Airlines (PAL) and AirAsia Philippines on Tuesday announced the gradual resumption of their flights between Manila and Caticlan, with the government's announcement to reopen Boracay Island to tourists from areas under general community quarantine (GCQ) and… Read More
PH, India eye ties in pharma, BPO sectors
September 29, 2020, 6:43 pm
MANILA – The Department of Trade and Industry (DTI) has invited Indian players in the pharmaceutical industry to tap business opportunities in the Philippines as the two countries target to strengthen cooperation. The DTI urged them to participate in manufacturing of active pharmaceutical… Read More
