Business
Peso rises vs. USD, stock index recovers
August 25, 2020, 7:41 pm
MANILA – The peso continued to improve as it neared its four-year high against the US dollar on Tuesday while the Philippine Stock Exchange index (PSEi) recovered after lawmakers approved the proposed Bayanihan 2 measure. The local currency finished the day at 48.5 from 48.62 on Monday. It… Read More
SEC issues framework for corporate debt vehicles
August 25, 2020, 6:22 pm
MANILA – The Securities and Exchange Commission (SEC) has approved the regulatory framework for the creation and operation of new investment companies that will primarily invest in corporate debt papers. The Commission on August 18 issued SEC Memorandum Circular No. 23, Series of 2020, which… Read More
BTr rejects bids for 20-year T-bond
August 25, 2020, 5:12 pm
MANILA – The Bureau of the Treasury’s (BTr) auction committee on Tuesday rejected all bids for the 20-year Treasury bond (T-bond) with a remaining life of 12 years after investors asked for high yield. Had the auction committee awarded the debt paper, the rate of the T-bond would have… Read More
Dominguez cites importance of digitalization in aid delivery
August 25, 2020, 4:16 pm
MANILA – Finance Secretary Carlos Dominguez III on Tuesday highlighted the importance of digitalization in government processes to increase the efficiency in the delivery of government aid, among others. During the Presidential address aired over PTV 4, Dominguez said digitalization of… Read More
Megaworld speeds up digitalization, bullish on quick recovery
August 24, 2020, 8:50 pm
MANILA – Property giant Megaworld is accelerating its digitalization programs and technology investments across all its businesses, optimistic it can recover quickly from the coronavirus disease 2019 (Covid-19) pandemic next year. During the company’s annual stockholders’ meeting via live… Read More
NegOcc LGUs urged to avail of Land Bank aid to stimulate economy
August 24, 2020, 8:42 pm
BACOLOD CITY – The Metro Bacolod Chamber of Commerce and Industry (MBCCI) urged local government units (LGUs) in Negros Occidental to avail of financial assistance from the Land Bank of the Philippines (LBP) to stimulate the local economy. Frank Carbon, chief executive officer of MBCCI, said on… Read More
Oil prices up after US agrees to Covid-19 plasma treatment
August 24, 2020, 8:19 pm
ANKARA – Crude oil prices climbed on Monday after US President Donald Trump announced an emergency authorization for convalescent plasma to treat coronavirus disease 2019 (Covid-19) patients. International benchmark Brent crude was trading at USD45.01 per barrel at 0602 GMT for a 0.4-percent… Read More
Peso ends sideways vs. USD; PSEi slips anew
August 24, 2020, 6:48 pm
MANILA – Risk-on sentiments continued to buoy the Philippine peso on Monday but the main stocks index slipped anew and ended the week’s first trading day below the 6,000-level. The local currency finished the week’s first trading day at 48.62, sideways from its 48.68 close last… Read More
PH pursuing trade, investment talks amid pandemic
August 24, 2020, 6:27 pm
MANILA – The Philippines continues to strengthen economic relations with different countries amid the coronavirus disease 2019 (Covid-19) pandemic, Department of Trade and Industry (DTI) Undersecretary Ceferino Rodolfo said on Monday. DTI held dialogues with Indonesia and the United Kingdom… Read More
APEC to intensify structural reform efforts for economic recovery
August 24, 2020, 6:19 pm
JAKARTA – Economic experts and officials from Asia-Pacific Economic Cooperation (APEC) member economies are pressing ahead with structural reform efforts to expedite post-pandemic economic recovery and enhance resilience. "Advancing structural reform has been an ongoing concern for APEC in its… Read More
T-bill rates rise across-the-board
August 24, 2020, 6:12 pm
MANILA – Rates of the Philippines’ treasury bills (T-bills) rose Monday, which National Treasurer Rosalia de Leon said is in line with their expectations. Average rate of the 91-day T-bills rose to 1.131 percent, the 182-day to 1.407 percent, and the 364-day to 1.751 percent. These were at… Read More
Firms to adjust fuel prices Aug. 25
August 24, 2020, 4:06 pm
MANILA – Oil companies will implement an increase in the prices of gasoline and a rollback on the prices of diesel and kerosene effective Tuesday. In separate advisories, Chevron, Cleanfuel, Petro Gazz, Seaoil, and Shell announced they would hike gasoline prices by PHP0.15 per liter and reduce… Read More
DTI gives P790K livelihood aid to Cebu micro entrepreneurs
August 24, 2020, 3:42 pm
CEBU CITY – The Department of Trade and Industry (DTI) has provided at least 79 qualified micro-entrepreneurs in Barangays Mambaling and Buhisan in this city with “negosyo kits” worth PHP10,000 each. The 78 micro-entrepreneurs from Mambaling, who were victims of fire incidents that… Read More
DTI urges CARS participants to send policy revision proposals
August 24, 2020, 3:38 pm
MANILA – The Department of Trade and Industry (DTI) is open to any recommendations from the participating carmakers under the Comprehensive Automotive Resurgence Strategy (CARS) program. DTI Undersecretary Ceferino Rodolfo told reporters the government understands the situation of the domestic… Read More
DTI chief assures support for local PPE makers
August 23, 2020, 4:53 pm
MANILA – Answering the call of manufacturers to prioritize Philippine-made personal protective equipment (PPE) in government procurement, Department of Trade and Industry (DTI) Secretary Ramon Lopez said his office is coordinating with the Department of Health (DOH) and Department of Budget and… Read More
PAL increases CDO, Pagadian flights
August 23, 2020, 1:59 pm
MANILA – Flag carrier Philippine Airlines (PAL) will increase its services to the cities of Cagayan de Oro (CDO) and Pagadian this month, spokesperson Cielo Villaluna said over the weekend. Daily flights between Manila and CDO will begin on August 24, while maintaining the CDO-Cebu flights… Read More
Gov't ‘saving lives’ from virus, hunger: exec
August 22, 2020, 1:09 pm
MANILA – A top Cabinet official has assured the business community that the government is focused on saving lives not just from the coronavirus pandemic but also from hunger and other diseases that could happen as a result of the economic fallout from the global health crisis. Finance Secretary… Read More
Oil prices up as OPEC+ vows for strict compliance
August 21, 2020, 8:15 pm
ANKARA – Brent crude oil prices climbed on Friday after OPEC+ reassured the markets that it will strictly cut its total oil production by the determined level of 7.7 million barrels per day. International benchmark Brent crude was trading at USD45.01 per barrel at 0605GMT for a 0.2 percent… Read More
ADB supports PH financial inclusion reforms with $300-M loan
August 21, 2020, 7:47 pm
MANILA – The Asian Development Bank (ADB) has approved a USD300-million policy-based loan to support the Philippine government’s efforts to boost inclusive growth by implementing reforms to expand Filipinos’ access to financial services, especially in unserved and underserved areas across… Read More
Local PPE makers to add $36-M investments, 4K jobs
August 21, 2020, 7:03 pm
MANILA – Member companies of the Confederation of Philippine Manufacturers of PPE (CPMP) are adding USD36 million investments to ramp up their production of medical-grade personal protective equipment (PPE) to serve the local demand. In a virtual press conference Friday, CPMP executive director… Read More
