Business
57 'persons of interest' for Wirecard fraud: AMLC exec
September 11, 2020, 5:11 pm
MANILA – Fifty-seven individuals, including foreigners, are now considered as persons of interest in connection to the investigation on the USD2.1 billion missing Wirecard AG funds, an official of the Philippines’ Anti-Money Laundering Council (AMLC) Secretariat said. During a virtual briefing… Read More
PH power consumption seen to decline by 5.9% in near-term: Fitch
September 11, 2020, 5:01 pm
MANILA – Power consumption in the country in the near-term will decline as the economy struggles with the coronavirus disease 2019 (Covid-19) pandemic, a Fitch Solutions outlook report said. “We have turned more bearish on our near-term outlook for Philippines’ power and renewable sector,… Read More
PH's foreign reserves seen to surpass $100-B by end-2020
September 10, 2020, 8:04 pm
MANILA – The Philippines’ foreign reserves are seen to surpass USD100 billion by the end of the year, partly due to the Bangko Sentral ng Pilipinas’ (BSP) decision to actively manage its gold holdings. In a virtual briefing on Thursday, BSP Governor Benjamin Diokno said the central bank’s… Read More
PH eyes to offer healthy, natural products in China buying expo
September 10, 2020, 6:52 pm
MANILA – The Department of Trade and Industry (DTI) is looking for Filipino exporters who can offer “healthy and natural” products in the country’s participation in this year’s China International Import Expo (CIIE). The CIIE is the first buying expo for the Chinese market from foreign… Read More
Davao biz group hails 'cacao capital' title
September 10, 2020, 6:00 pm
DAVAO CITY – The Davao City Chamber of Commerce and Industry (DCCCII) hailed Thursday the Department of Agriculture's (DA) declaration of the city as the country’s "cacao capital."DCCCII president John Carlo Tria noted that after years of promoting the cacao industry, the city has now become… Read More
Lawmaker wants to triple SB Corp. budget for 2021
September 10, 2020, 5:03 pm
MANILA – Aklan 2nd District Rep. Teodorico Haresco Jr. has proposed to triple the allocation for Small Business (SB) Corp., the financing arm of the Department of Trade and Industry (DTI), for 2021. “I echo the sentiment of Deputy Speaker Loren Legarda for an appeal to the appropriations… Read More
Peso ends sideways vs. USD, stocks index slides anew Thursday
September 10, 2020, 3:48 pm
MANILA – The Philippine peso ended Thursday’s trade sideways against the US dollar but the Philippine Stock Exchange index (PSEi) ended the trade in the red partly on concerns regarding the development of coronavirus disease (Covid-19) vaccines. The peso finished the day at 48.57 against the… Read More
Anti-Terrorism Act to keep PH out of gray list
September 10, 2020, 2:39 pm
MANILA – An effective implementation of the Anti-Terrorism Act (ATA), not just simply instituting it, would keep the Philippines off the gray list of Paris-based anti-money laundering watchdog Financial Action Task Force (FATF). In a reply to e-mailed queries from the Philippine News Agency… Read More
Vibrant agriculture key to faster recovery, poverty reduction
September 9, 2020, 9:43 pm
MANILA – Transforming Philippine agriculture into a dynamic, high-growth sector is essential for the country to speed up recovery, poverty reduction and inclusive growth, according to the latest report released by the World Bank. Titled “Transforming Philippine Agriculture During Covid-19 and… Read More
BSP auctions own debt instrument
September 9, 2020, 7:51 pm
MANILA – The Bangko Sentral ng Pilipinas (BSP) will reissue its own debt instrument starting next week as it works towards a more market-based monetary operations after this authority was restored under the New Central Bank Act. In a statement Wednesday, the central bank said it will auction… Read More
Oil prices fall below $40 as virus threatens economies
September 9, 2020, 7:48 pm
ANKARA – Crude oil prices fell on Wednesday as the global coronavirus outbreak continues to threaten global economies while further fueling demand concerns. International benchmark Brent crude was trading at USD39.67 per barrel at 0607 GMT for a 0.27 percent decrease after closing Tuesday at… Read More
Lawmakers seek higher 2021 budget for DTI
September 9, 2020, 7:41 pm
MANILA – The House of Representatives’ Committee on Appropriations is pushing for a higher budget for the Department of Trade and Industry (DTI) next year, seeing its crucial role in economic recovery amid the pandemic. House Committee Vice Chair, Rep. Manuel Zubiri, who presided over the… Read More
Aboitiz Construction needs over 1,200 skilled workers
September 9, 2020, 7:19 pm
CEBU CITY – Aboitiz Construction, Inc. (ACI) is hiring over 1,200 skilled workers, including medical professionals, to ensure safety at the workplace as it resumes construction in various project sites in the country. Among the jobs needed are project managers, engineers, safety and quality… Read More
BSP hikes 7-day, 14-day TDF offers; bids rise across-the-board
September 9, 2020, 6:29 pm
MANILA – Rates of the Bangko Sentral ng Pilipinas’ (BSP) term deposit facility (TDF) continued to register mixed results despite demand remaining strong. Data released by the central bank Wednesday showed the average rate of the seven-day facility rose to 1.8276 percent and the 14-day’s to… Read More
Cebu's micro-business aid recipients get mentoring from MCCI
September 9, 2020, 6:20 pm
CEBU CITY – The Mandaue Chamber of Commerce and Industry (MCCI) will mentor budding micro-entrepreneurs who are recipients of the provincial government’s micro-business aid program and those seeking to revive their businesses affected by the coronavirus disease 2019 (Covid-19) pandemic. The… Read More
Korean Air cancels some Manila-bound flights
September 9, 2020, 6:14 pm
MANILA – Korean Air (KE) has canceled a number of its Incheon-Manila flights due to constraints in Manila's quarantine capacity. In an advisory posted on its Facebook page on Wednesday, KE announced the cancellation of flight KE623 on the following dates: Sept. 9-12, Sept. 15-19, Sept.21, Sept.… Read More
Stocks, peso weaken on Covid-19, US-China concerns
September 9, 2020, 5:56 pm
MANILA – Concerns on the progress of studies on coronavirus disease 2019 (Covid-19) vaccines ended the Philippine Stock Exchange index’ (PSEi) four-day rally Wednesday, while the peso weakened against the US dollar. After rising to the 6,000-level a day ago, the main equities index shed 1.68… Read More
Inflation remains manageable amid pandemic
September 9, 2020, 5:47 pm
MANILA – The Philippine economy contracted by 9 percent in the first half of 2020 due to the pandemic but price pressures continue to be manageable, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said. In his presentation during the hearing for the proposed 2021 national budget at… Read More
Industry 4.0 plans to help PH improve innovation rankings
September 9, 2020, 4:17 pm
MANILA – The country should not be slowed down by the coronavirus disease 2019 (Covid-19) pandemic in rolling out its fourth industrial revolution (Industry 4.0) plans, an official of the Department of Trade and Industry (DTI) said. DTI-Competitiveness and Innovation Group Undersecretary… Read More
Davao City rakes in P2.1-B investment
September 9, 2020, 1:06 pm
DAVAO CITY – The Davao City Investment and Promotions Center (DCIPC) has approved investments in the property and manufacturing sectors worth more than PHP2.1 billion, its chief, April Dayap, said Tuesday.Dayap identified the investments as the Acacia Hotel with a PHP1.8-billion capitalization,… Read More
