Business
PLDT begins free fiber upgrade program for ADSL users
September 21, 2020, 5:28 pm
MANILA – Copper-based ADSL users of PLDT will soon experience improved internet speeds after the telecommunications company announced its free fiber upgrade program. In a statement on Monday, PLDT said its modernization program has already begun and will be completed in the next 18 months.… Read More
PH brands abroad ‘lifesaver’ for Filipino franchise sector
September 21, 2020, 4:27 pm
MANILA – Philippine franchise brands that expanded outside the country have helped the local franchising sector amid the coronavirus disease 2019 (Covid-19) pandemic. Philippine Franchise Association (PFA) president Richard Sanz said the group’s strategy to bring Filipino franchise brands… Read More
Online platform links local producers with consumers in Iloilo
September 21, 2020, 3:50 pm
ILOILO CITY – An organization of young entrepreneurs has created an online platform to link startup micro and small entrepreneurs and producers from Panay Island to interested buyers in response to the coronavirus 2019 (Covid-19) pandemic. With a grant-in-aid from the Department of Science and… Read More
Oil prices up this week
September 21, 2020, 3:05 pm
MANILA – After a big-time rollback last week, oil companies will implement a price hike starting Tuesday morning. In separate statements, Cleanfuel, Petro Gazz, Seaoil, and Shell said they will raise diesel prices by PHP0.20 per liter and PHP0.60 per liter in prices of gasoline. Seaoil and… Read More
Closed businesses fewer during lockdown in Aug.-Sept.
September 21, 2020, 3:00 pm
MANILA – Department of Trade and Industry (DTI) Secretary Ramon Lopez said there are fewer businesses that remain closed as the government eases community quarantine measures in August and September. In his speech at the Franchise Asia Philippines 2020 Monday, Lopez said only 6 percent of over… Read More
D&L Industries sees profit surge in 2nd half of 2020, 2021
September 20, 2020, 3:58 pm
MANILA – D&L Industries, a manufacturer of specialty food ingredients, plastics and oleochemicals, expects its second-half earnings to surpass estimates even amid the coronavirus, and business activity improving next year. “Indications are it would be better than what we thought, so more than… Read More
European Chamber calls for retention of EU GSP+ for PH
September 20, 2020, 3:51 pm
MANILA – A European business group here calls for the retention of the Generalised Scheme of Preference Plus (GSP+) granted by the European Union (EU) to the Philippines following the recommendation of the EU Parliament to withdraw the preferential trade arrangement. “The European Chamber of… Read More
‘Sugbo Negosyo’ provides P50K capital to entrepreneurs
September 20, 2020, 1:07 pm
CEBU CITY – The Cebu provincial government’s micro-business aid program, dubbed as “Sugbo Negosyo”, will be formally launched on Sept. 30, giving entrepreneur beneficiaries as much as PHP50,000 worth of starting capital. In a statement, the capitol said the program has three categories,… Read More
Experts sound alarm on more cyber heists
September 20, 2020, 12:27 pm
MANILA – Cyber security experts are sounding the alarm bells over the probability of a surge in computer-enabled crimes amid radical lifestyle changes ushered-in by the so-called new normal. The warning was issued on the heels of the United Coconut Planters Bank (UCPB) heist which was… Read More
Solon recognizes contributions of coops in nation-building
September 19, 2020, 5:09 pm
MANILA – Senator Christopher “Bong” Go has urged the continued cooperation and bayanihan among cooperatives in the country as he recognized their role in development and nation-building. “Cooperatives have become an important force in countryside development and nation-building. Not only… Read More
BSP fully awards P20-B bills in initial auction
September 19, 2020, 11:38 am
MANILA – Auction of the initial 28-day Bangko Sentral ng Pilipinas (BSP) Bill was met with strong demand Friday. Data released by the central bank showed that the debt paper was offered for PHP20 billion and tenders reached PHP43.36 billion. The auction committee made a full award. Rate of the… Read More
PH current account deficit seen to end 2020 in surplus
September 19, 2020, 10:29 am
MANILA – The Philippines’ current account (CA) is now projected to likely end 2020 in surplus after posting deficits in recent years, boosted by the lower trade deficit. As of end-June this year, the country’s current account (CA) is in a surplus amounting to PHP4.4 billion, a turn-around… Read More
Asean+3 leaders hike IMF delinked portion of CMIM
September 19, 2020, 10:24 am
MANILA – Asean+3 finance ministers and central bank governors have approved the hike of the delinked portion of the USD240-billion Chiang Mai Initiative Multilateralization (CMIM) after seven years from 30 percent to 40 percent. In a joint statement for the 23rd Asean+3 Finance Ministers and… Read More
High-speed Wi-Fi available across Cebu City, Davao City
September 18, 2020, 6:58 pm
MANILA – Free and paid high-speed Wi-Fi connections are now available in several hospitals, government offices, airports, and other key locations in the cities of Davao and Cebu. In a statement on Friday, GoWiFi — the public Wi-Fi service provider of Globe Telecom — announced new GoWiFi… Read More
PH peso ends week up vs. USD, stocks index slips anew
September 18, 2020, 3:59 pm
MANILA – The Philippine peso ended Friday stronger against the US dollar despite the risk-off sentiment that resulted in the negative close of the Philippine Stock Exchange index (PSEi) this week. The local currency finished the week’s trading at 48.395 to a greenback, better than its 48.51… Read More
Sun Life PH exec eyes 2020 GDP at -6.5%
September 18, 2020, 1:35 pm
MANILA – An official of Sun Life Philippines forecast on Friday a -6.5-percent output for the Philippine economy this year because of the coronavirus disease (Covid-19) pandemic but a recovery of between 5-6.5 percent is forecast for 2021. In a virtual briefing, Sun Life Philippines chief market… Read More
Cebu banks remain safe from Covid-19: banker's club
September 18, 2020, 1:22 pm
CEBU CITY – The Cebu Bankers Club (CBC) on Friday assured the public that local banks in Cebu remain safe from coronavirus disease (Covid-19) as they fully adhere to health protocols while providing essential financial services to the clients. Romeo Comabig, president of CBC, said banks have… Read More
New Sumitomo factory in PH to generate 10K jobs
September 18, 2020, 8:13 am
MANILA – Some 10,000 jobs will be generated once the factory of Sumitomo Wiring System factory in Binalonan, Pangasinan becomes fully operational, the Department of Trade and Industry (DTI) said. Sumitomo broke grounds on Sept. 16 for its new project located in the North Luzon Aero Industrial… Read More
Cebu business revival roadmap gets good feedback
September 17, 2020, 9:43 pm
CEBU CITY -- The Project Balik Buhay (PBB), Cebu’s economic recovery roadmap, has generated positive response when presented to local government officials and various sectors in Negros Occidental and Bacolod City, the Office of the Presidential Assistant for the Visayas (OPAV) said on Thursday.… Read More
RCBC economist eyes above $100-B GIR this year
September 17, 2020, 8:27 pm
MANILA – Philippines foreign reserves, which hit a record-high USD98.954 billion last August, are seen to surpass monetary officials USD100-billion forecast this year due to recovery of remittance inflows and narrower trade deficit, among others. In a report, Rizal Commercial Banking… Read More
