Business
Peso seen to strengthen further
September 29, 2020, 6:21 pm
MANILA – The reversal in the Philippines’ current account balance on account of import weakness is expected to continue boosting the local currency, which is among the strongest in the region to date. In a report on Tuesday, ING Bank senior economist Nicholas Mapa attributed this performance… Read More
BTr sets P140-B T-bond, T-bill auction next month
September 29, 2020, 5:34 pm
MANILA – The Bureau of the Treasury (BTr) is scheduled to offer PHP140 billion worth of debt paper next month, wherein only short-term tenor Treasury bonds (T-bond) are up for auction. In a memorandum to government securities eligible dealers (GSEDs) dated September 28, National Treasurer… Read More
Group backs DTI proposal to allow biz to operate at full capacity
September 29, 2020, 5:11 pm
MANILA – The Philippine Association of Meat Processors, Inc. (PAMPI) supports the proposal of Trade Secretary Ramon Lopez to allow some sectors of the economy to operate at full capacity. In a statement, PAMPI president Felix Tiukinhoy Jr. said the prolonged lockdown would not drive away the… Read More
Stocks dip; peso closes nearly unchanged vs. USD
September 29, 2020, 5:07 pm
MANILA – The Philippine Stock Exchange index (PSEi) closed in negative territory Tuesday, but the peso managed to end the day sideways against the US dollar despite investors’ wait-and-see stance on the US’ new fiscal stimulus, among others. The main stock index went down by 0.34 percent,… Read More
RCBC extends waived fees for PESONet, InstaPay until year’s end
September 29, 2020, 4:37 pm
MANILA – Rizal Commercial Banking Corporation (RCBC) has extended waived fund transfer fees for PESONet and InstaPay transactions until Dec. 31, 2020 from the earlier schedule of Sept. 30. In a statement Tuesday, the bank said this decision was made in response to the continuing call for relief… Read More
Digital infra to boost PH growth: NEDA
September 29, 2020, 2:11 pm
MANILA – Pushing for digital transformation will catapult the country’s growth amid the pandemic, National Economic and Development Authority (NEDA) Undersecretary Rosemarie Edillon said Tuesday. In an online media briefing, Edillon said the government aims to put in place digital… Read More
PH, US ink new P10.5-B deal to boost economic growth
September 29, 2020, 10:23 am
MANILA – The United States, through the United States Agency for International Development (USAID), and the Department of Finance (DOF), signed a new, five-year bilateral assistance agreement valued at more than PHP10.5 billion ($213 million) to boost the country’s economic development and… Read More
Capital markets remain open for fundraising of local companies
September 28, 2020, 8:43 pm
MANILA – There is no drought of financing options for the country’s local companies as they can tap other non-bank sources to fulfill their funding requirements during the coronavirus pandemic, according to First Metro Investment Corporation (FMIC), the investment banking arm of the Metrobank… Read More
APEC presses for greater investment in health systems
September 28, 2020, 8:39 pm
JAKARTA – Asia-Pacific Economic Cooperation (APEC) member economies remain committed to stepping up coordinated actions and aligning initiatives towards boosting health systems in the region amid the wide-ranging impacts of the coronavirus disease 2019 (Covid-19) pandemic. The commitment was… Read More
CLI eyes P2-B revenues from CDO residential project
September 28, 2020, 8:36 pm
MANILA – Cebu Landmasters Inc. (CLI), the leading residential developer in Visayas and Mindanao (VisMin), expects to generate about PHP2 billion in gross revenues from its completed three-tower residential condominium project in Cagayan de Oro City. In a statement, CLI said it has started to… Read More
Continued re-opening of economy to boost BOP surplus
September 28, 2020, 8:32 pm
MANILA – Philippines’ balance of payment (BOP) position improved last August after posting a surplus of USD657 million, and an economist forecasts this to be sustained as the government continues to re-open the economy. Data released by the Bangko Sentral ng Pilipinas (BSP) showed that the… Read More
DTI proposes to double microfinancing fund for 2021
September 28, 2020, 6:14 pm
MANILA – The Department of Trade and Industry (DTI) wants to double the fund for its microfinancing program under the Small Business (SB) Corp. next year. During the department’s budget hearing in the Senate on Monday, DTI Secretary Ramon Lopez proposed to increase the SB Corp.’s budget… Read More
T-bill rates post mixed results
September 28, 2020, 6:10 pm
MANILA – Philippine Treasury bills (T-bills) posted mixed results Monday on expectations of a steady Bangko Sentral ng Pilipinas (BSP) key rates until the end of the year. The rate of the 90-day paper declined to 1.121 percent and the 182-day to 1.601 percent, but the rate of the 364-day rose… Read More
Stocks recover, peso weakens
September 28, 2020, 6:05 pm
MANILA – The main equities index rose Monday but the peso ended sideways, partly on news of another stimulus program in the US. After a four-day slide, the Philippine Stock Exchange index (PSEi) rose by 0.39 percent, or 22.73 points, to 5,861.39 points. All Shares increased by 0.29 percent, or… Read More
Smart expands 5G coverage to Visayas, Mindanao
September 28, 2020, 5:19 pm
MANILA – Users of Smart Communications, Inc. (Smart) in some parts of the Visayas and Mindanao will soon enjoy better mobile data services as the company expands its 5G network outside Luzon. In a statement on Monday, Smart said its 5G rollout is ongoing in key areas of Boracay, Cebu, Iloilo,… Read More
Fuel prices up anew this week
September 28, 2020, 4:42 pm
MANILA – For two consecutive weeks, oil firms will increase their prices starting Tuesday morning. In separate advisories, Flying V, Petro Gazz, Shell, Unioil, Petron and PTT Philippines said they will hike prices of gasoline by PHP0.20 per liter, and PHP0.05 per liter on prices of… Read More
PAL adds more Davao-Manila flights
September 28, 2020, 4:21 pm
MANILA – Flag carrier Philippine Airlines (PAL) on Monday announced increasing flight frequencies between Manila and Davao beginning October 3. Eight weekly flights will be offered from Davao to Manila, every Monday, Tuesday, Wednesday, Thursday, Friday, Saturday (twice), and Sunday. Manila to… Read More
DTI wants to allow some biz to operate at full capacity
September 28, 2020, 4:14 pm
MANILA – Department of Trade and Industry (DTI) Secretary Ramon Lopez wants some sectors to operate at full capacity even under general community quarantine (GCQ) status. In a Senate hearing Monday, Lopez said this would allow more workers to go back to their jobs. “I am in favor of modified… Read More
Cebu’s virtual sale sees growing online traffic
September 28, 2020, 3:52 pm
CEBU CITY – Cebu’s first-ever ongoing industry-wide virtual sale event, the Great Cebu Sale (GCS), has listed growing online traffic as organizers here urged consumers to take advantage of the best deals they could get from their preferred merchants. Camille Aldeguer, the chairperson of the… Read More
Low interest rate, tax reform to attract more 'hot money' to PH
September 26, 2020, 11:19 am
MANILA – The Philippines’ low interest rate environment and the continued approval of tax reform measures are seen to address the outflows in the country’s foreign portfolio investments, an economist of Rizal Commercial Banking Corp. (RCBC) said on Friday. Data released by the Bangko… Read More
