Business
Bank economist keeps 9.9% GDP contraction forecast for PH
September 23, 2020, 8:59 pm
MANILA – An economist of ING Bank Manila is keeping his 9.9-percent contraction forecast for the Philippine economy this year on expectations economic managers will reign in spending to “protect fiscal targets”. This projection is higher than the government’s 5.5-percent economic… Read More
Term deposit facility rates sustain mixed results
September 23, 2020, 8:54 pm
MANILA – The mixed results in the term deposit facility (TDF) auction by the central bank continued Wednesday but all tenors remained oversubscribed. Data released by the Bangko Sentral ng Pilipinas (BSP) showed that the rate of the seven-day TDF declined to 1.8346 percent from 1.8377 percent… Read More
DOE chief shares PH’s move to tap nuclear power at int’l meet
September 23, 2020, 8:51 pm
MANILA – Department of Energy (DOE) Secretary Alfonso Cusi said the Philippines is on its journey to explore the potentials of nuclear power as a reliable source of energy. In his speech delivered virtually during the opening session of the two-day International Atomic Energy Agency (IAEA)… Read More
Peso, stocks index end sideways
September 23, 2020, 8:46 pm
MANILA – The peso ended Wednesday sideways against the US dollar along with the Philippine Stock Exchange index (PSEi), as investors continue to weigh recent developments on geopolitics and the pandemic. The main equities index ended the day slightly down by 0.03 percent, or 1.56 points, to… Read More
Chinese traders urged to explore opportunities in Cebu, Visayas
September 23, 2020, 8:43 pm
CEBU CITY – Presidential Assistant for the Visayas, Secretary Michael Lloyd Dino, has encouraged the business sector in Fujian province in China to look at Cebu and the rest of the Visayas as a potential site for investment. “It is hoped that we will continue to maintain the strong friendship… Read More
'Subdued’ Christmas holidays expected: DTI chief
September 23, 2020, 7:25 pm
MANILA – Christmas holidays will be different amid the global health crisis, Department of Trade and Industry (DTI) Secretary Ramon Lopez said on Wednesday. “It would be a subdued Christmas; less of the big reunions, more of intimate reunions,” Lopez said in an interview with ANC. He… Read More
DTI chief confident PH will retain EU GSP+ status
September 23, 2020, 5:18 pm
MANILA – Department of Trade and Industry (DTI) Secretary Ramon Lopez is confident the country will retain the Generalised Scheme Preference Plus (GSP+) grant from the European Union (EU) despite the recommendation of EU lawmakers to revoke the GSP+ status for the Philippines. In an interview… Read More
Century Pacific signs tie-up for coconut replanting initiative
September 23, 2020, 1:29 pm
MANILA – Century Pacific Food Inc. (CNPF), through its coconut manufacturing arm Century Pacific Agricultural Ventures Inc. (CPAVI), has signed a partnership with Friends of Hope to donate quality seedlings to smallholder coconut farmers, enabling the planting of coconut trees and the… Read More
BTr rejects bids for 10-year T-bond
September 22, 2020, 8:37 pm
MANILA – The Bureau of the Treasury (BTr) on Tuesday rejected all bids for the re-issued 10-year Treasury bond (T-bond) after investors asked for high yields. Had the auction committee awarded the debt paper, its average rate would have risen to 3.329 percent, higher than the 2.724 percent the… Read More
Covid-19 concerns in Europe weaken PH stocks, peso
September 22, 2020, 8:02 pm
MANILA – Concerns about the resurgence of coronavirus disease (Covid-19) in Europe dampened investors’ sentiment resulting in the negative close of the Philippines’ main equities index and the weakening of the peso. The Philippine Stock Exchange index (PSEi) shed 0.26 percent, or 15.04… Read More
Broadband cost dropped by 60% since 2016: Globe
September 22, 2020, 3:24 pm
MANILA – Globe Telecom, one of the major broadband providers in the country, on Tuesday reported that the cost of broadband has dropped by more than 60 percent since 2016. In a statement, Darius Delgado, head of Globe's broadband business, said investments and improvements in the country’s… Read More
Alibaba, iAcademy tie up for digital, e-commerce courses in PH
September 22, 2020, 3:22 pm
MANILA – Alibaba Business School, a unit of technology firm Alibaba Group, has partnered with Makati-based school iAcademy to offer digital and e-commerce in the country. Alibaba Business School and iAcademy inked their partnership Tuesday to launch the Alibaba Global Digital Talent, named as… Read More
PH still economic powerhouse in Asean: economist
September 22, 2020, 3:17 pm
MANILA – A Kuala Lumpur-based economist said the Philippines remains an economic powerhouse in Southeast Asia amid the challenges due to the coronavirus disease (Covid-19) pandemic. Juwai IQI chief economist Shan Saeed told the Philippine News Agency that the country’s demographics and… Read More
Revenues from fuel marking hit P131-B
September 21, 2020, 9:52 pm
MANILA – The government has collected about PHP131.17 billion worth of taxes until the middle of September from the implementation of the fuel marking program. Data from the Department of Finance (DOF) showed that the bulk of the collections are made by the Bureau of Customs (BOC) amounting to… Read More
Wilcon sees business recovery, sustains expansion
September 21, 2020, 9:51 pm
MANILA – Home improvement and construction supply retailer, Wilcon Depot Inc., expects earnings to recover in the second half of the year as it gears up for continued expansion with the easing of lockdowns amid the pandemic. Rosemarie Bosch Ong, Wilcon Depot senior executive vice president and… Read More
Economist bullish on sustained surplus in PH’s current account
September 21, 2020, 7:14 pm
MANILA – Philippines’ current account (CA) surplus is expected to be sustained after about two years in deficit due to lower imports because of the pandemic, as well as the rebound of remittance inflows and exports. In the first half of 2020, the country registered a USD4.4-billion CA… Read More
T-bill rates rise on expectations for steady BSP rates
September 21, 2020, 7:04 pm
MANILA – Rates of the 91-day paper rose to 1.156 percent, the 182-day to 1.615 percent, and the 364-day to 1.850 percent. These were at 1.150 percent and 1.589 percent for the three-month and six-month paper during the auction last Sept. 14 and 1.807 percent during the auction last Sept.… Read More
Peso, stocks index end sideways
September 21, 2020, 7:00 pm
MANILA – The peso started the week sideways against the US dollar while the Philippine Stock Exchange index (PSEi) barely moved partly due to the US-China tension and the resurging coronavirus disease 2019 (Covid-19) cases in Europe. The peso closed the day at 48.365 to a greenback, little… Read More
Borongan City rolls out digital biz registration
September 21, 2020, 6:36 pm
TACLOBAN CITY – Borongan City in Eastern Samar has launched its electronic business permit and licensing system (e-BPLS) to adapt to the new normal amid the coronavirus disease 2019 (Covid-19) pandemic. In a statement on Monday, Mayor Jose Ivan Dayan Agda said this will fast track the issuance… Read More
Cebu City wants construction sector safe from Covid-19
September 21, 2020, 6:12 pm
CEBU CITY – The Emergency Operations Center (EOC) here is looking for ways to ensure workplace safety in the construction industry. Councilor Joel Garganera, head of the EOC, said this on Monday following reports on increased coronavirus disease 2019 (Covid-19) transmission among construction… Read More
