Business
GSIS suspends pensioners’ show up rule until December
August 19, 2020, 1:11 pm
MANILA – The Board of Trustees of the Government Service Insurance System (GSIS) no longer requires pensioners to report to GSIS on their birth month or comply with the Annual Pensioners Information Revalidation (APIR) until the end of 2020 to ensure the safety of its pensioners. The pension… Read More
Payments service firm eyes 315K MSME clients by 2025
August 18, 2020, 8:28 pm
MANILA – Increased demand for digital payments solutions makes officials of Paynamics Technologies Inc. optimistic of having at least 315,000 micro, small and medium enterprises (MSMEs) using their services in the next five years. In a virtual launch of the electronic money (e-money) facility… Read More
Peso, stocks up as NCR, other areas placed back under GCQ
August 18, 2020, 7:28 pm
MANILA – The main stocks gauge recovered on Tuesday while the peso further strengthened against the greenback after the easing of the community quarantine level in the National Capital Region (NCR) and four nearby provinces. After a two-day slide, the Philippine Stock Exchange index (PSEi) rose… Read More
35-day T-bill rate declines on strong demand
August 18, 2020, 6:44 pm
MANILA – The rate of the Philippine 35-day Treasury bill (T-bill) posted an uptick Tuesday as demand for the debt paper remained strong. The average rate of the paper rose to 1.163 percent from 1.157 percent during the auction last August 4. “There remains good demand with PHP118 billion… Read More
Hiring of health officers in biz establishments pushed
August 18, 2020, 5:12 pm
CEBU CITY – To promote health and well-being in the workplace, the presidential assistant for the Visayas urged local government units (LGUs) in Metro Cebu to pass an ordinance requiring all establishments to designate health infection and prevention control officers (HIPCO). Assistant… Read More
DMCI shuts down power plant in quake-hit Masbate
August 18, 2020, 5:09 pm
MANILA – The Department of Energy (DOE) reported that the satellite power plant of DMCI Power Corp. in Cataingan, Masbate was shut down following the magnitude 6.6 earthquake in the southern Luzon province Tuesday. In an advisory, DOE said except for DMCI Cataingan Satellite Plant, other power… Read More
Bohol eyes high value-added goods made of coconut
August 18, 2020, 4:45 pm
CEBU CITY – The province of Bohol is exploring ways to promote higher value-added processing of coconut as a way to address the lower price of copra. Engr. Jesus Zamora Jr., regional director of the Department of Science and Technology (DOST) in Central Visayas, announced on Monday the interest… Read More
Century Pacific extends tie-up with regional coconut player
August 17, 2020, 9:40 pm
MANILA – Century Pacific Food, Inc. (CNPF), one of the country’s leading food companies, has recently signed a long-term contract as original equipment manufacturer (OEM) for the Linaco Group, a leading regional coconut producer headquartered in Malaysia. The partnership commenced in 2018,… Read More
Megawide sees air travel recovery as Cebu airport revenue drops
August 17, 2020, 9:21 pm
CEBU CITY – The Megawide Construction Corp. on Monday expressed optimism the air travel industry will bounce back to its usual splendor, even as it reported the Mactan-Cebu International Airport (MCIA) revenue drop by 50.6 percent in the first half of 2020 due to coronavirus disease 2019… Read More
Insurers' exemption from payment leeway good for policyholders
August 17, 2020, 9:17 pm
MANILA – Life insurers are amenable to the proposed 60-day minimum grace period for payment of insurance policies but exempting insurance companies from the proposed policy will also be beneficial to the policyholders. This was according to Sun Life Philippines chief executive officer Benedict… Read More
Car importers monthly sales up in July
August 17, 2020, 9:13 pm
MANILA – Sales of vehicle importers in the country continued to post growth in July after the easing of the community quarantine measures in Metro Manila and other areas in the past months. The Association of Vehicle Importers and Distributors (AVID) reported Monday that its vehicle sales in… Read More
Peso ends sideways, equities index slips
August 17, 2020, 6:45 pm
MANILA – The peso ended Monday sideways against the US dollar but the main equities index finished on the red ahead of the Bangko Sentral ng Pilipinas’ (BSP) rate meeting. The Philippine Stock Exchange index (PSEi) shed 0.13 percent, or 8.13 points, to 6,068.78 points. All Shares followed… Read More
T-bill rates post mix results
August 17, 2020, 6:23 pm
MANILA – Rates of the Philippines’ treasury bills (T-bills) posted mix results Monday as investors weighed future rate decisions of the Bangko Sentral ng Pilipinas (BSP). Rate of the 91-day paper rose to 1.118 percent and the 182-day to 1.388 percent, but the 364-day paper’s rate declined… Read More
Cebu capitol processes MSMEs aid online
August 17, 2020, 2:54 pm
CEBU CITY – The Cebu provincial capitol will open next week the online application through Facebook the assistance program for the micro, small and medium enterprises (MSMEs) affected by the coronavirus disease 2019 (Covid-19) crisis. Governor Gwendolyn Garcia on Sunday said the provincial… Read More
Pooled testing for Covid-19 to expand in NCR
August 17, 2020, 2:47 pm
MANILA – Presidential Adviser for Entrepreneurship Joey Concepcion said polymerase chain reaction (PCR)-based pooled testing for coronavirus disease 2019 (Covid-19) will be rolled out in Makati City and other parts of Metro Manila. Concepcion said that based on study led by the private sector,… Read More
Oil prices set to go up anew this week
August 17, 2020, 2:43 pm
MANILA – Prices of oil products at retail stations will slightly increase starting Tuesday. In separate advisories, Chevron, Cleanfuel, Flying V, Petro Gazz, Seaoil, and Shell announced that they will hike diesel prices by PHP0.10 per liter and PHP0.60 per liter on gasoline prices. There is no… Read More
Japan's economy contracts record 27.8% in Q2 amid pandemic
August 17, 2020, 2:09 pm
TOKYO – Japan's economy shrank an annualized real 27.8 percent from the previous quarter in the April-June period, marking a record contraction as the global coronavirus disease 2019 (Covid-19) pandemic stifled economic activity amid restrictions under a state of emergency, the government said… Read More
DTI appeals for manufacturing sector support in Bayanihan 2
August 17, 2020, 7:27 am
MANILA – The Department of Trade and Industry (DTI) appealed to Congress to provide support for the manufacturing sector under the Bayanihan 2. As both Senate Bill 1564 and House Bill 6953 excluded the manufacturing sector for government assistance, DTI Secretary Ramon Lopez wrote a letter to… Read More
Alliance Global Group profit hits P4.1B in H1
August 14, 2020, 8:02 pm
MANILA – Andrew Tan-led Alliance Global Group, Inc. (AGI) on Friday reported its net profit reached PHP4.1 billion in the first half of 2020, down by 67 percent from PHP12.5 billion during the same period last year. Consolidated revenues fell 26 percent to PHP61.4 billion from last year’s… Read More
BAP backs 30-day loan payment leeway
August 14, 2020, 7:57 pm
MANILA – The Bankers Association of the Philippines (BAP) has expressed support for the mandatory 30-day moratorium on loan payments in areas under the enhanced community quarantine (ECQ) and modified enhanced community quarantine (MECQ). "We have to ensure the stability and robustness of the… Read More
