Business
DTI chief favors granular lockdowns
September 17, 2020, 7:37 pm
MANILA – As community quarantine measures are still implemented in the country for six months, Trade Secretary Ramon Lopez favors granular lockdowns than large-scale restrictions. “The mindset is to move away from community quarantine and have (a) granular approach in lockdown,” Lopez said… Read More
Stocks index, peso down as Fed keeps rates
September 17, 2020, 7:31 pm
MANILA – Statements about keeping the current Federal Reserve rates for at least the next three years affected investors sentiment resulting in the negative close of both the Philippine Stock Exchange index (PSEi) and the peso Thursday. The main equities index shed 0.05 percent, or 3.10 points,… Read More
Imported vehicle sales down 7% in August
September 17, 2020, 6:27 pm
MANILA – Monthly sales of Association of Vehicle Importers and Distributors (AVID) slipped by 7 percent in August to 4,753 units from 5,100 unit sales in July. AVID attributed the decline in sales to stricter lockdown measures in Metro Manila and four other nearby provinces last month. In… Read More
Landbank okays PHP350-M loan for 5 private schools
September 17, 2020, 6:22 pm
MANILA – Five private schools around the country have received a total of PHP350 million worth of loan from the Land Bank of the Philippines (Landbank) to allow them to extend a “study now, pay later” program. In a reply to questions from the Philippine News Agency, the state-owned bank… Read More
PH, Germany hold Joint Economic Commission inaugural meet
September 17, 2020, 4:32 pm
MANILA – The Philippines and Germany held its first Joint Economic Commission (JEC) meeting to boost bilateral relations between the two countries. In a statement Thursday, the German-Philippine Chamber of Commerce and Industry (GPCCI) said the business group welcomes the JEC inaugural meeting… Read More
SEC okays SMIC P30-B shelf offering
September 17, 2020, 2:25 pm
MANILA – The Securities and Exchange Commission (SEC) has favorably considered the public offering by SM Investments Corp. (SMIC) of fixed-rate bonds worth as much as PHP30 billion under shelf registration. In its meeting on Sept. 15, the Commission en banc resolved to render effective the… Read More
Innovation in gov’t crucial for PH resilience, economic recovery
September 16, 2020, 8:49 pm
MANILA – Innovation in government is needed to recover and build resilience from crises, Acting Socioeconomic Planning Secretary Karl Kendrick Chua said in a statement on Wednesday. Noting risks to the country’s growth outlook, Chua said the task ahead requires innovative and creative… Read More
UnionBank, UBX apps work on slow net connection
September 16, 2020, 8:39 pm
MANILA – An official of UBX, the fintech arm of Union Bank of the Philippines (UnionBank), said their systems, while being regularly updated, work even on slow internet connection to accommodate users in far-flung areas. In a virtual briefing Wednesday, UBX chief executive officer (CEO) John… Read More
Term deposit rates ended mixed anew
September 16, 2020, 8:13 pm
MANILA – Rates of the Bangko Sentral ng Pilipinas’ (BSP) term deposit facility (TDF) continue to post mixed results even as domestic liquidity remains high. Rates of the seven-day facility rose to 1.8377 percent but those for the 14-day and 28-day facilities declined to 1.8460 percent and… Read More
Online biz registration soars in Zambo City: DTI
September 16, 2020, 8:10 pm
ZAMBOANGA CITY--The Department of Trade and Industry (DTI) has recorded an increase in the registration of online businesses here amid the coronavirus disease 2019 (Covid-19) pandemic.DTI provincial director Grace Aduca said Wednesday that 605 online businesses have already registered since… Read More
Biz groups support plan to reduce distancing in public transpo
September 16, 2020, 6:10 pm
MANILA – Fourteen local and foreign business groups have expressed support to the Department of Transportation’s plan to reduce physical distancing in public transportation. The business organizations said “The 7 Commandments”, or the combination of health measures to manage viral… Read More
North Negros export processing zone to rise in Sagay City
September 16, 2020, 6:06 pm
BACOLOD CITY – The Northern Negros Agro-Industrial Export Processing Zone (NNAIEPZ) will soon rise on a 160-hectare local government-owned property in Sagay City, Negros Occidental. The project will proceed after the city government and the Philippine Economic Zone Authority (PEZA) entered into… Read More
Pru Life UK exec eyes 6-8% growth for PH economy in 2021
September 16, 2020, 5:20 pm
MANILA – A ranking Pru Life UK official forecasts about 6-8 percent expansion for the Philippine economy in 2021, a turn-around from the expected negative print this year because of the pandemic. Charles Wong, Pru Life UK investments assistant vice president and head of equities, said the… Read More
Peso ends sideways vs. USD; stocks index slips
September 16, 2020, 5:10 pm
MANILA – The peso ended Wednesday sideways against the US dollar, but the Philippine Stock Exchange index (PSEi) slipped after a three-day rally ahead of major central banks’ policy decisions. The main stocks index shed 1.19 percent, or 71.59 points, to 5,946.62 points. All Shares followed… Read More
SC affirms MORE takeover of Iloilo power firm's assets
September 16, 2020, 5:03 pm
MANILA – The Supreme Court (SC) has ruled in favor of the More Electric and Power Corporation's (MORE) takeover of the operations and assets of the Panay Electric Company (PECO) which supplies power in Iloilo City. "In granting the petitions, the Supreme Court reversed the judgment of the… Read More
19th PHITEX pushes through amid pandemic
September 16, 2020, 3:24 pm
MANILA – The Tourism Promotions Board (TPB) will conduct the 19th Philippine Travel Exchange (PHITEX) next week by having activities online and an actual travel experience for local participants in the island of Panglao in Bohol. In a virtual press conference Wednesday, TPB chief operating… Read More
Study eyes PH niche markets in EFTA
September 15, 2020, 7:34 pm
MANILA – A study aiming to find the Philippines’ niche market in European Free Trade Association (EFTA) countries, particularly Switzerland, is targeted to be completed by December 2020. In a statement Tuesday, the Department of Trade and Industry (DTI) said the Export Marketing Bureau (EMB)… Read More
Peso, stocks index rise anew
September 15, 2020, 7:31 pm
MANILA – Both the peso and the Philippine Stock Exchange index (PSEi) ended higher Tuesday, partly due to better remittances figures and the continued re-opening of the economy. The local currency finished the day at 48.4 from 48.51 a day ago. It opened the day at 48.48, better than its 48.56… Read More
Loan facility with Japan boosts PH emergency budget
September 15, 2020, 5:46 pm
MANILA – The Philippine government’s emergency budget got further support Tuesday after the signing of a 50 billion yen or about PHP23.3-billion quick-disbursing loan facility with Japan, through the Japan International Cooperation Agency (JICA). Finance Secretary Carlos Dominguez III said… Read More
Landbank to extend more loans to address pandemic
September 15, 2020, 2:47 pm
MANILA – Land Bank of the Philippines (Landbank) will continue to cater to Filipinos’ funding needs vis-à-vis the impact of the pandemic especially now that Bayanihan 2 has been signed into law. “Landbank will continue to assist customers that meet the bank’s risk asset acceptance… Read More
