Business
Vista Land bullish on residential, leasing businesses
September 8, 2020, 8:45 pm
MANILA – Vista Land & Lifescapes, Inc., one of the country’s leading integrated property developers and the largest homebuilder, remains optimistic on its residential and leasing businesses despite the pandemic, as it aims to roll out more projects this year. In a statement, Vista Land… Read More
PH named one of world’s top digital risers
September 8, 2020, 7:50 pm
MANILA – The Philippines is one of the top digital risers worldwide, according to the Digital Riser Report 2020 of the Berlin-based European Center for Digital Competitiveness by ESCP Business School. The Philippines was named as one of the world’s top digital risers along with France and… Read More
Economist discounts BSP rate cut in near term
September 8, 2020, 7:02 pm
MANILA – Additional cuts in the Bangko Sentral ng Pilipinas’ (BSP) key rates are not expected in the near term despite the low inflation environment since real interest rates are now in negative territory. To date, the central bank’s overnight lending rate is at 2.75 percent, the overnight… Read More
Oil prices continue to fall after sharp weekend losses
September 8, 2020, 6:35 pm
ANKARA – Crude oil prices continued to slide on Monday after a sharp weekend loss since demand is expected to abate as Saudi Arabia makes deeper price cuts. International benchmark Brent crude was trading at USD42.04 per barrel at 0636 GMT for a 1.4-percent loss after closing Friday at USD42.66… Read More
Health, wellness firm sees growth amid pandemic
September 8, 2020, 5:58 pm
MANILA – Health and wellness company Amway Philippines expects growth in its business amid a global health crisis. In an online media briefing Tuesday, Amway Philippines Country Manager Leni Olmedo said demand for health and nutrition, as well as home care products, increased amid the… Read More
Fitch sees PH power consumption at 4.6% in 2020-2029
September 8, 2020, 5:52 pm
MANILA – Fitch Solutions forecasts that the country’s power consumption between 2020 and 2029 will average at 4.6 percent despite the near-term headwinds due to coronavirus disease 2019 (Covid-19) pandemic. In a commentary released Tuesday, Fitch Solutions said it expects power demand in the… Read More
3-year T-bond fetches coupon rate of 2.375%
September 8, 2020, 5:49 pm
MANILA – The Bureau of the Treasury’s (BTr) fresh issuance of a three-year treasury bond (T-bond) fetched a coupon rate of 2.375 percent Tuesday. The debt paper fetched an average rate of 2.279 percent, higher than the 2.35 percent in the secondary market. “Preference remains (a)… Read More
Peso, stocks rise on risk-on sentiments
September 8, 2020, 4:29 pm
MANILA – Risk-on sentiments boosted both the peso and the equities index, which rose above 6,000 level Tuesday. The Philippine Stock Exchange index (PSEi) rose by 1.65 percent, or 98.18 points, to 6,034.03 points. All Shares trailed after it jumped by 1.31 percent, or 46.57 points, to 3,604.58… Read More
Filipinos urged to avail of voluntary retirement savings plans
September 8, 2020, 4:22 pm
MANILA – Only about 20 percent of Filipino senior citizens are covered by the mandatory pension from either the Government Service Insurance System (GSIS) and the Social Security System (SSS). This leaves the larger number of about 7.6 million elders to date without the means to provide for all… Read More
PH needs stronger fiscal stimulus to boost economy
September 8, 2020, 4:18 pm
MANILA – The Philippine government needs to strengthen its efforts in addressing coronavirus disease (Covid-19) and boost its fiscal stimulus to counter the economic fallout from the pandemic, according to a working paper from the Department of Economics of Ateneo de Manila University… Read More
PCC approves URC purchase of Roxas Holdings Negros sugar assets
September 7, 2020, 10:05 pm
MANILA – The Philippine Competition Commission (PCC) has approved the acquisition by Universal Robina Corporation (URC) of sugar milling and bioethanol distillery plants and its parcels of land of Roxas Holdings, Inc. (RHI) in Negros Island. The anti-trust body’s approval of URC’s… Read More
ANZ Research forecasts steady BSP rates in near term
September 7, 2020, 8:28 pm
MANILA – ANZ Research discounts the need for further easing in the Bangko Sentral ng Pilipinas’ (BSP) key policy rates this year, after the 175 basis points cut to date, due to low inflation environment. Last August, the rate of price increases dipped to 2.4 percent after rising in the… Read More
Gov’t urges institutions to buy locally-made PPE
September 7, 2020, 8:23 pm
MANILA – As the country now produces 60 million face masks and 3.2 million pieces of medical-grade coveralls, the government has called on institutions and organizations to buy personal protective equipment (PPE) and other items from Filipino manufacturers. In a statement Monday, Trade… Read More
Stocks index sustains rise; peso ends sideways
September 7, 2020, 7:06 pm
MANILA – The main equities index rose for the third consecutive day Monday while the peso ended the week’s first trading day sideways against the US dollar. The Philippine Stock Exchange index (PSEi) increased by 2.61 percent, or 150.76 points, to 5,935.85 points. All the other counters also… Read More
T-bill rates ends mixed despite oversubscription
September 7, 2020, 6:26 pm
MANILA – Rates of Treasury bills (T-bills) registered mixed results Monday but all tenors received higher than offer bids. Rate of the 91-day paper declined to 1.167 percent while the rate of the 182-day rose to 1.518 percent and the 364-day to 1.807 percent. During the auction last Sept. 1,… Read More
Oil price rollback set Sept. 8
September 7, 2020, 6:07 pm
MANILA – Motorists can expect lower oil prices on Tuesday morning. Oil firms Cleanfuel, Flying V, Petro Gazz, Petron, PTT Philippines, Seaoil, and Shell will slash prices of diesel by PHP0.45 per liter, and PHP0.30 per liter on gasoline prices. Flying V, Petron, Seaoil, and Shell will also… Read More
PRRD's economic team seeks swift OK of 2021 budget
September 6, 2020, 2:33 pm
MANILA – President Rodrigo Duterte's economic team has sought the swift enactment by Congress of the proposed 2021 national budget as a key component of the government’s comprehensive plan to “rebuild the economy and decisively defeat” coronavirus disease 2019 (Covid-19). On top of the… Read More
Port of Subic exceeds target revenue with help of net-based tech
September 4, 2020, 7:04 pm
SUBIC BAY FREEPORT, Zambales – The Bureau of Customs (BOC) in the Port of Subic uses internet–based technology to continue and effectively conduct valuation and classification proceedings on import cargoes amid the danger of the coronavirus disease 2019 (Covid-19) pandemic. This, as… Read More
Smooth flow of goods helped manage PH inflation amid pandemic
September 4, 2020, 6:20 pm
MANILA – The government's move to ensure that movement of goods throughout the country remain smooth amid quarantine measures due to the coronavirus disease 2019 (Covid-19) pandemic helped in managing domestic inflation, Department of Trade and Industry (DTI) Secretary Ramon Lopez said Friday.… Read More
Gov't to run after criminals behind UCPB cyber theft
September 4, 2020, 6:03 pm
MANILA – Finance Secretary Carlos Dominguez III said the government is firm on running after perpetrators of the PHP167-million cyber heist at the United Coconut Planters Bank (UCPB) last June. In a Viber message to journalists on Friday, he said the Department of Finance (DOF), which oversees… Read More
