Business
ERC fines Meralco over violations on ECQ directives
August 27, 2020, 5:54 pm
MANILA – The Energy Regulatory Commission (ERC) on Thursday said it will impose a PHP19-million fine on Manila Electric Co. (Meralco) for violating its directives during the enhanced community quarantine (ECQ). In a statement, ERC cited these violations of Meralco include failure to clearly… Read More
Risk-off sentiments hurt peso, stocks index
August 27, 2020, 5:51 pm
MANILA – Both the peso and the main stocks gauge finished Thursday in the negative territory, spooked partly by the geopolitical concerns overseas. The Philippine Stock Exchange index (PSEi) shed 0.17 percent, or 9.78 points, to 5,921.55 points. All Shares managed to move sideways after it… Read More
PH’s strong fundamentals continue to boost peso
August 27, 2020, 5:15 pm
MANILA – Philippines’ strong macroeconomic fundamentals continue to support the peso, which has remained stable in the last five years and continues to be resilient amid the pandemic. As of August 19, 2020, the peso has strengthened against the US dollar by about 4.24 percent to PHP48.58… Read More
Coca-Cola reaffirms long-term commitment in PH
August 27, 2020, 4:33 pm
MANILA – Beverage firm Coca-Cola has reaffirmed its long-term commitment in the Philippine market despite the challenges brought by the coronavirus disease 2019 (Covid-19) pandemic. In a virtual roundtable discussion with the press Thursday, Coca-Cola Philippines president and general manager… Read More
Century Properties grows leasing, affordable housing biz
August 27, 2020, 2:40 pm
MANILA – Real estate firm Century Properties Group (CPG) said it is well positioned to continue its expansion to leasing and affordable housing and face the ‘next normal’ guided by the principles of innovation, resilience and growth, and sustainability. During the company’s online… Read More
Cebu retailers to hold virtual sale to stir consumer confidence
August 27, 2020, 2:02 pm
CEBU CITY – In a bid to stimulate trade and bring back consumer confidence, a retailers’ group will make an industry-wide “The Great Cebu Sale 2020” that will run for one-and-a-half months. In a statement, the Philippine Retailers Association (PRA)-Cebu Chapter said it conceptualized the… Read More
Smart taps 6 common tower firms to build 200 cell sites
August 26, 2020, 8:51 pm
MANILA – Mobile network provider Smart Communications (Smart) on Wednesday announced it has signed agreements with six common tower companies as part of its network expansion program for its 4G and 5G services. In a statement, Smart said the agreement involves building a pilot batch of almost… Read More
BSP term facility rates end mix
August 26, 2020, 7:53 pm
MANILA – Demand for the Bangko Sentral ng Pilipinas’ (BSP) term deposit facility (TDF) remained high but its rate posted mixed results Wednesday. The rate of the seven-day facility rose to 1.7834 percent and the 28-day’s to 1.8481 percent, while the rate of the 14-day facility declined to… Read More
Stocks slip, peso ends sideways vs. USD
August 26, 2020, 7:48 pm
MANILA – The peso ended Wednesday sideways against the US dollar but the Philippine Stock Exchange index (PSEi) ended in the negative territory. The main equities index finished Wednesday’s trade down by 0.37 percent, or 22.11 points, to 5,931.33 points. All Shares trailed with a drop of… Read More
PEZA pushes for more ecozones as part of recovery plan
August 26, 2020, 6:36 pm
MANILA – Philippine Economic Zone Authority (PEZA) Director General Charito Plaza has underscored the role of establishing more economic zones particularly in the countryside as part of the country’s recovery plan amid the coronavirus disease 2019 (Covid-19) pandemic. In a statement… Read More
Gov't has fiscal leeway to hike spending: bank economist
August 26, 2020, 5:41 pm
MANILA – An economist said the government continues to enjoy fiscal leeway thus, it can increase spending to address the impact of the pandemic on domestic growth. This after the Bureau of the Treasury reported that the budget gap as of end-July 2020 totaled to PHP700.6 billion, 494.03… Read More
Audit on unlicensed software to expand in LGUs
August 26, 2020, 3:44 pm
MANILA -- Optical Media Board (OMB) chair and chief executive officer Anselmo Adriano said the National Committee on Intellectual Property Rights (NCIPR) aims to expand the audit on the use of unlicensed software to local government units (LGUs). In an online press briefing of The Software… Read More
DTI opens 29th Negosyo Center in Cebu to help MSMEs
August 26, 2020, 3:21 pm
MANDAUE CITY – The Department of Trade and Industry (DTI) Cebu provincial office has opened its 29th Negosyo Center in this city to cater to more micro, small and medium enterprises (MSMEs) amid the pandemic. Mayor Jonas Cortes and DTI-Cebu OIC director Rose Mae Quiñanola led the opening… Read More
Maxus launches G50 in PH market
August 26, 2020, 8:02 am
MANILA – Maxus Philippines on Tuesday launched the G50 multipurpose vehicle (MPV) in the country, signaling confidence in the local market amid the pandemic. The eight-seater MPV is an addition to Maxus’ light commercial vehicle models available in the Philippine market. “We are still quite… Read More
Cebu guv urges creativity, competitiveness in MSME aid program
August 25, 2020, 9:18 pm
CEBU CITY – Cebu Governor Gwendolyn Garcia wants creativity and competitiveness to be among the key standards in the provincial government’s assistance program for micro, small and medium enterprises (MSMEs). Garcia recommended the format for the competition of the MSME aid program will be… Read More
China, US agree to push forward phase 1 of trade deal
August 25, 2020, 8:50 pm
ANKARA – In a breakthrough amid faltering bilateral ties, trade chiefs of China and the US Tuesday held phone talks to discuss the first phase of a trade deal. The phone conversation ended in an agreement that both the sides will “create conditions and atmosphere to continue pushing forward… Read More
Landbank disburses P46.31-B cash aid
August 25, 2020, 8:40 pm
MANILA – State-owned Land Bank of the Philippines (Landbank), the main distribution arm of the government’s financial aid program, has released about PHP46.31 billion worth of subsidies for Filipinos affected by the pandemic. In a post on its Facebook page, the bank said as of July 1, 2020,… Read More
Bayanihan 2, infra among key areas in reviving PH economy
August 25, 2020, 8:30 pm
MANILA – The government is continuously working on programs that would help severely affected sectors to cope with the impact of the coronavirus disease 2019 (Covid-19) pandemic, the head of the National Economic and Development Authority (NEDA) said in a news release issued on Tuesday. “We… Read More
PCC clears Razon-Ayala water deal
August 25, 2020, 8:26 pm
MANILA – The Philippine Competition Commission (PCC) has approved the acquisition of a controlling stake by Trident Water Holdings Company Inc. (Trident Water), the holding firm of Prime Metroline Holdings Inc. (PMHI), in Manila Water Inc. (Manila Water). The transaction involves the… Read More
Inclusion of e-vehicles in gov’t procurement eyed
August 25, 2020, 7:45 pm
MANILA – Policies requiring government offices to buy electric vehicles are being eyed to jumpstart the local e-vehicle (EV) industry, Department of Trade and Industry (DTI) Undersecretary Rafaelita Aldaba said on Tuesday. In a pre-event press conference for the 8th Philippine Electric Vehicle… Read More
