Business
PH remains ‘go-to guy’ for ITBPM firms: DTI chief
September 4, 2020, 4:54 pm
MANILA – The Philippines remains to be a reliable investment destination for information technology and business process management (ITBPM) companies amid the challenging business environment brought by the pandemic and the rise of new technologies, the country’s trade chief said Friday.… Read More
PH stocks index rises anew, peso remains firm vs. USD
September 4, 2020, 3:57 pm
MANILA – The Philippines’ main stocks index rose for the second consecutive day on Friday, while the peso ended the week sideways against the US dollar as investors weigh the latest developments both here and overseas. The Philippine Stock Exchange index (PSEi) rose by 0.21 percent, or 12.23… Read More
PH inflation to remain within-target due to pandemic
September 4, 2020, 2:31 pm
MANILA – Filipinos need not worry about big upticks in the prices of domestic goods as inflation is expected to stay within the government’s 2 to 4 percent target band until 2022. “The balance of risks tilts toward the downside owing largely to potential disruptions to domestic and global… Read More
Slowdown of PH inflation in August 'within expectations': BSP
September 4, 2020, 11:02 am
MANILA – Domestic inflation rate in August slowed to 2.4 percent after two consecutive months of uptick due to the slower rate of price increases in the heavily-weighted food and non-alcoholic beverages. Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno, in a message to journalists on… Read More
PMFTC opens IQOS stores in PH
September 4, 2020, 10:45 am
MANILA – PMFTC Inc., an affiliate of Philip Morris International (PMI), opened Friday its first four IQOS stores in the Philippines making available a smoke-free alternative to cigarettes for Filipino adult smokers 21 years old and above who would otherwise wish to continue to smoke or use… Read More
AirAsia PH expands Mindanao network
September 4, 2020, 10:15 am
MANILA – Despite the pandemic, low-cost carrier AirAsia Philippines will continue with its plan to expand its network in Mindanao, as it will launch new routes -- General Santos City and Zamboanga. In an interview Friday, AirAsia Philippines chief executive officer Ricardo Isla said by widening… Read More
Moody's revises '20 growth outlook for PH to -7%
September 3, 2020, 9:22 pm
MANILA – Moody’s Investors Service revised its 2020 economic forecast for the Philippines from 4.5 percent to -7 percent contraction after noting that factors for a recovery in the second half is less robust than earlier expected. In a report dated September 2, the debt rater said impact of… Read More
Demand for OFWs to help remittances recover in 2021
September 3, 2020, 9:17 pm
MANILA – Remittance inflows improved last June but full-year growth is expected to contract by 5 percent this year due to the pandemic before recovering next year with growth of about 4 percent. During the joint virtual briefing of the inter-agency Development Budget Coordination Committee… Read More
DTI registers over 75K online businesses
September 3, 2020, 7:46 pm
MANILA – A total of 75,029 online businesses have registered with the Department of Trade and Industry (DTI) from January to August this year, Secretary Ramon Lopez said on Thursday. At the Senate committee hearing for the Internet Transactions Act, Lopez said bulk of internet-based businesses… Read More
Davao Agri-Trade Expo goes online
September 3, 2020, 7:26 pm
DAVAO CITY -- The upcoming Davao Agri-Trade Expo (DATE) will go digital as it launches an online exhibition that will help promote local products and create linkages and partnerships between Filipino and international agricultural stakeholders.In a statement Thursday, the Davao City Chamber of… Read More
Stock index recovers, peso ends sideways vs. USD
September 3, 2020, 7:25 pm
MANILA – The Philippine Stock Exchange index (PSEi) recovered after a five-day slide due to a better employment report while the peso ended Thursday sideways against the US dollar. The main equities index rose by 0.60 percent, or 34.47 points, to 5,772.86 points. All Shares increased by 0.45… Read More
Firms eye mid-, long-term investment opportunities in PH
September 3, 2020, 7:16 pm
MANILA – Companies remain interested in medium- to long-term investment opportunities in the Philippines as pledges at the Board of Investments (BOI) continue to grow amid the pandemic, a trade official said. In a press conference on Thursday, Trade Undersecretary and BOI managing head Ceferino… Read More
Infrastructure projects to support job creation amid pandemic
September 3, 2020, 6:57 pm
MANILA – As the unemployment rate declined in July 2020 to 10 percent from 17.7 percent in April 2020, Presidential Adviser for Flagship Programs Vivencio Dizon said infrastructure projects will continue to generate more jobs for Filipinos amid the global health crisis. In a Palace briefing… Read More
Unemployment rate eases in July
September 3, 2020, 6:34 pm
MANILA – The labor market is improving, but the government needs to continue its efforts in containing the spread of the coronavirus disease 2019 (Covid-19) pandemic and supporting affected workers and firms to revive the economy, the National Economic and Development Authority (NEDA) said… Read More
More companies eye building of common towers: DICT
September 3, 2020, 6:21 pm
MANILA – More tower companies are showing interest in building common towers in the country according to the Department of Information and Communications Technology (DICT) on Thursday. In a statement, the DICT said it has received letters of intent from 13 tower companies asking to register as… Read More
PH to speed up approval of 12 water infra projects: Dizon
September 3, 2020, 5:48 pm
MANILA – Presidential Adviser for Flagship Programs Vivencio Dizon said 12 flagship water infrastructure projects under the “Build, Build, Build” program would be covered by the Palace directive to expedite the approval of projects related to water security. In a Palace briefing on… Read More
Small banks boost MSME lending during pandemic
September 3, 2020, 5:40 pm
MANILA – Thrift banks (TBs) and rural and cooperative banks (RCBs) have responded to the call for increased lending to micro, small and medium enterprises (MSMEs) to help the latter cope with the impact of the pandemic. “We’ve seen improvement in the amount of lending to the MSME sectors,… Read More
UCPB account holders' funds remain safe amid cyber heist
September 3, 2020, 5:37 pm
MANILA – United Coconut Planters Bank (UCBP) account holders’ funds remain safe despite the cyber heist last June that cost the government-controlled bank about PHP167 million. In a Viber message to journalists Thursday, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said it is in… Read More
Diokno cites importance of FIST Bill on PH economy
September 2, 2020, 8:29 pm
MANILA – Asset quality of Philippine banks remains strong but measures such as the proposed Financial Institutions Strategic Transfer (FIST) bill will prevent it from deteriorating vis-à-vis the impact of the pandemic. In his presentation during a Senate hearing Wednesday, Bangko Sentral ng… Read More
Term deposit rates rise
September 2, 2020, 7:20 pm
MANILA – Rates of the Bangko Sentral ng Pilipinas’ (BSP) term deposit facility (TDF) rose across-the-board Wednesday and demand remained huge due to the high liquidity situation in the domestic economy. The rate of the seven-day facility rose to 1.813 percent, the 14-day facility to 1.842… Read More
