Business
ANZ Research eyes add'l RRR cuts in H2
August 21, 2020, 6:57 pm
MANILA – ANZ Research projects that the 400 basis points reduction in banks’ reserve requirement ratio that the Monetary Board (MB) authorized Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno to implement this year, will be maximized. This, even as monetary officials on Thursday… Read More
US, China agree to discuss trade deal: Beijing
August 20, 2020, 8:35 pm
ANKARA – The US and China have agreed to hold discussions on the progress of a phase one trade deal they reached last January, local news sources reported Thursday. "China and the US have agreed to hold talks over phone in the coming days to evaluate progress of the phase one trade deal," said… Read More
BSP hikes real estate loan limit to 25%
August 20, 2020, 8:33 pm
MANILA – Philippine monetary officials have expanded the real estate loan limit for universal and commercial banks (U/KBs) from 20 percent to 25 percent, a move aimed at supporting the sector during the pandemic. “The increase translates to additional liquidity for real estate lending… Read More
BSP holds key rates steady on benign inflation, weak growth
August 20, 2020, 8:29 pm
MANILA – Philippine monetary officials on Thursday paused the cuts in the central bank’s key rates after noting that inflation is expected to remain within target and domestic and global growth remains weak because of the pandemic. Thus, the overnight reverse repurchase (RRP) rate is still at… Read More
Biz group wants inclusion of private sector in IATF
August 20, 2020, 8:13 pm
MANILA – The Philippine Chamber of Commerce and Industry (PCCI) has appealed to government to include the private sector in the Inter-Agency Task Force for the Management of Emerging Infectious Diseases (IATF). The PCCI Board of Directors passed a resolution asking the government to engage the… Read More
Peso, stocks decline on profit-taking
August 20, 2020, 8:09 pm
MANILA – Both the peso and the Philippine Stock Exchange index (PSEi) finished the week with losses due to profit-taking ahead of the long weekend. Risk-off sentiments reigned on the local bourse during the day, with the main index down by 0.61 percent, or 36.72 points, to 6,005.40 points. All… Read More
20K beneficiaries eyed for Cebu micro-business aid program
August 20, 2020, 8:05 pm
CEBU CITY – The provincial government of Cebu is set to roll out the assistance program for the micro businesses affected by the coronavirus disease 2019 (Covid-19) pandemic, targeting to help 20,000 beneficiaries. The program will enable workers who were displaced from their domestic or… Read More
Apple becomes 1st US company to hit $2-T market cap
August 20, 2020, 5:45 pm
WASHINGTON – Apple became the first publicly traded US company to hit a USD2 trillion market capitalization Wednesday after its share price exceeded USD467.97. The milestone comes two years after the tech company hit USD1 trillion. Apple surpassed Saudi Arabia's Aramco on July 31 to become the… Read More
Fiscal strength a plus for PH's fight vs. pandemic: DOF chief
August 20, 2020, 5:34 pm
MANILA – Fiscal strength provides the Philippine government leeway to address the economic and health impact of the pandemic even as the size of its stimulus program is lower compared to other countries. Department of Finance (DOF) Secretary Carlos Dominguez III, in his videotaped speech during… Read More
PCC approves logistics, airport management deals
August 20, 2020, 5:30 pm
MANILA – The Philippine Competition Commission (PCC) has given the green light to Asia Seal Pte. Limited and FastCargo Logistics Corporation to pursue their joint venture deal, as well as the share acquisition of Aéroports de Paris SA (AdP) in GMR Airports Limited. “The Philippine… Read More
DTI, DOLE step up livelihood aid in Visayas regions
August 20, 2020, 5:25 pm
CEBU CITY – The Department of Trade and Industry (DTI) and Department of Labor and Employment in the Visayas Regions 6, 7 and 8 have stepped up their livelihood and entrepreneurship development assistance through various seeding programs to assist those who are affected by fire and other… Read More
PH, UK vow to boost trade, investments amid pandemic
August 20, 2020, 2:21 pm
MANILA – The Philippines and the United Kingdom have renewed their commitments to boost trade and investments amid the coronavirus disease 2019 (Covid-19) pandemic following the second Economic Dialogue held between the two governments Wednesday. In a joint statement, both states commit “to… Read More
SMC to develop sustainable mangrove crab industry in Bulacan
August 19, 2020, 8:28 pm
MANILA – San Miguel Corporation (SMC) will grow 100,000 mud crabs monthly at its 10-hectare mangrove plantation site in Hagonoy, Bulacan to protect the forest and provide a new and sustainable source of livelihood for residents of the town and the rest of the province. SMC president and… Read More
Security Bank suspends ops on Ninoy Aquino holiday
August 19, 2020, 8:21 pm
MANILA – Security Bank Corporation (Security Bank) is asking its clients to access the bank’s customer service hotline and the electronic and online platforms on Friday, August 21, as all branches will be closed due to the Ninoy Aquino holiday. In a statement Wednesday, the bank said clients… Read More
UnionBank exec cites exponential rise of digital transactions
August 19, 2020, 8:15 pm
MANILA – Online transactions by Union Bank of the Philippines (UnionBank) clients surpassed branch transactions significantly since the implementation of the enhanced community quarantine (ECQ). Ana Delgado, UnionBank executive vice president, chief user experience officer and head of consumer… Read More
Peso hits near 4-year high of P48.57 to $1; stocks dip
August 19, 2020, 7:22 pm
MANILA – The Philippine peso rose to its strongest in nearly four years against the US dollar after quarantine restriction in the National Capital Region (NCR), among other areas, was eased but the main equities index shed. The local currency finished the day at 48.575 from its 48.625 close to… Read More
Strong uptake for life insurance product seen
August 19, 2020, 7:12 pm
MANILA – An executive of Insular Life (InLife) is optimistic for the continued strong uptake for the company’s Wealth Assure Guaranteed Issue Offer (GIO), which will be offered only up to September 30 this year. Inlife’s Wealth Assure GIO, a life insurance product that can be availed… Read More
TDF rates post mix results amid oversubscription
August 19, 2020, 6:11 pm
MANILA – A ranking Bangko Sentral ng Pilipinas (BSP) attributed to normalization of domestic liquidity situation the mix results of the central bank’s term deposit facility (TDF) auction Wednesday. Rate of the seven-day TDF declined to 1.7708 percent and the 14-day to 1.8347 percent but the… Read More
Cebu to boost corn, cassava production for self-sufficiency
August 19, 2020, 3:17 pm
CEBU CITY – The provincial government here is bent on boosting the production of corn and cassava as part of the capitol’s Enhanced Countryside Development (ECD) program. Governor Gwen Garcia met with representatives of planters associations and financing institutions on Tuesday to discuss… Read More
Gov’t delays reopening of gyms, other sectors in GCQ areas
August 19, 2020, 3:00 pm
MANILA – The government is postponing the reopening of gyms, sports facilities, pet grooming services, and other businesses in areas under general community quarantine (GCQ) until August 31. “The reopening of the last batch sectors like gyms, review centers, internet cafes will be postponed… Read More
