Business
FMIC sees economy contracting 8-9% in 2020, recovery by 2021
August 12, 2020, 9:03 pm
MANILA – First Metro Investment Corporation, the investment banking arm of the Metrobank Group, expects the Philippine economy to contract by eight to nine percent by year-end due to the pandemic, but will bounce back in 2021 and the long-term prospects look rosy on the back of strong… Read More
Regaining consumer confidence key to PH recovery: economists
August 12, 2020, 8:51 pm
MANILA – Economists said regaining consumer confidence and for people to go back to their pre-pandemic activities will play a big role in the economic recovery more than the government’s stimulus program. In a virtual briefing Wednesday, First Metro Investment Corporation (FMIC) chairman… Read More
Gov’t, employers urged to provide face masks, shields for free
August 12, 2020, 8:46 pm
MANILA – Laban Konsyumer, Inc. (LKI) President and Founder, lawyer Victorio Mario Dimagiba said personal protective equipment (PPE) like face masks and face shields should be provided for free to the vulnerable sectors and workers for free. In a radio interview Wednesday, the former senior… Read More
BSP's TDF rates rise despite lower bids for 2 tenors
August 12, 2020, 8:41 pm
MANILA – The rates of the Bangko Sentral ng Pilipinas (BSP) term deposit facility (TDF) increased Wednesday despite under subscriptions for the seven- and 14-day facilities. The average rate of the shortest-tenor TDF increased to 1.7810 percent, the 14-day to 1.8658 percent, and the 28-day to… Read More
PCC OKs CPGI’s acquisition of voting shares in subsidiary firm
August 12, 2020, 6:50 pm
MANILA – The Philippine Competition Commission (PCC) has cleared the proposed acquisition by Century Properties Group Inc. (CPGI) of voting shares in Century City Development II Corporation (Century Development II). The proposed transaction involves the acquisition of CPGI of common shares… Read More
ADB to help boost farm incomes in PH with $400-M loan
August 12, 2020, 6:47 pm
MANILA – The Asian Development Bank (ADB) has approved a USD400-million policy-based loan to support reforms of the Philippine government aimed at raising the productivity and competitiveness of the country’s agriculture sector and significantly reducing poverty in rural areas. The… Read More
RCBC ups provisioning due to pandemic, nets P3.1-B in H1
August 12, 2020, 6:43 pm
MANILA – The Rizal Commercial Banking Corporation (RCBC) has allocated bulk of its PHP5.2-billion provisioning for 2020 in the first six months of the year to address any impact of the global pandemic on the bank’s operations. “We frontloaded (the) majority of what we think we will be… Read More
Consumer group says face shield SRP should be below P50
August 12, 2020, 6:36 pm
MANILA – Consumer advocacy group Laban Konsyumer, Inc. (LKI) said the suggested retail price (SRP) for face shield should be below PHP50. In a radio interview Wednesday, LKI president lawyer Victorio Mario Dimagiba said the problem now with prices of face shields is like the problem in supply… Read More
Stocks close near 6K-level, peso sideways
August 12, 2020, 5:15 pm
MANILA – The Philippine Stock Exchange index (PSEi) rose anew on Wednesday while the peso ended the trade sideways against the greenback as investors stayed on the sidelines to monitor developments here and abroad. The main equities index rose 0.69 percent, or 41.06 points, to 5,995.00… Read More
DTI aids 10 micro entrepreneurs in Pampanga town
August 12, 2020, 3:03 pm
CITY OF SAN FERNANDO, Pampanga – The Department of Trade and Industry (DTI)-Pampanga has provided livelihood assistance to 10 micro entrepreneurs in Sto. Tomas town. The initiative is part of the agency’s Livelihood Seeding Program-Negosyo Serbisyo sa Barangay (LSP-NSB) program. DTI provincial… Read More
DTI-assisted MSMEs to supply free face masks
August 12, 2020, 2:23 pm
MANILA – Department of Trade and Industry (DTI) Secretary Ramon Lopez said micro, small and medium enterprises (MSMEs) assisted by the shared service facility (SSF) program of the department will be supplying reusable face masks that will be distributed to vulnerable sectors in the country. At… Read More
Deal to boost MSMEs enforcement of IP rights in e-commerce inked
August 11, 2020, 9:28 pm
MANILA – The Intellectual Property Office of the Philippines (IPOPHL) has signed its first partnership agreement with the British embassy in Manila to strengthen enforcement of intellectual property (IP) rights in e-commerce and enhance the competitiveness and financial leverage of businesses,… Read More
PH develops, learns patterns to boost recovery: DOF chief
August 11, 2020, 8:06 pm
MANILA – Department of Finance (DOF) Secretary Carlos Dominguez III remains hopeful for the recovery of the Philippine economy even as possible vaccines against the coronavirus disease 2019 (Covid-19) are still under clinical studies. “I believe we will be able to develop and learn behavior… Read More
10-year T-bond rate falls
August 11, 2020, 8:02 pm
MANILA – Rate of the government’s 10-year treasury bond (T-bond) slipped Tuesday as demand remained high. Average interest rate of the debt instrument, originally issued last July, declined to 2.724 percent from 2.875 percent it fetched as a coupon rate when it was first auctioned. “Very… Read More
Peso strengthens to 48-level, stocks rise anew
August 11, 2020, 7:26 pm
MANILA – The peso closed at its more than three-year high to the 48-level against the US dollar Tuesday while the main equities index (PSEi) rose anew. The local currency ended the day at 48.92 against the greenback, the strongest since its 48.66 close on November 10, 2016. It opened the day… Read More
DTI prepares MSMEs to adopt e-commerce
August 11, 2020, 6:37 pm
MANILA – The Department of Trade and Industry (DTI) targets micro, small and medium enterprises (MSMEs) to adopt digital commerce for their businesses to thrive amid a challenging environment due to the coronavirus disease 2019 (Covid-19) pandemic. In a webinar Tuesday, DTI Assistant Secretary… Read More
PEZA approves P52-B projects in Jan-July 2020
August 11, 2020, 6:29 pm
MANILA – The Philippine Economic Zone Authority (PEZA) has reported that investment approvals from January to July 2020 reached PHP52.01 billion. This came from 164 new and expansion projects registered with the investment promotion agency. In a statement Monday, PEZA said approved investments… Read More
UCPB exec optimistic on rise of digital banking transactions
August 11, 2020, 6:24 pm
MANILA – An executive of United Coconut Planters Bank (UCPB) is hopeful for the sustained rise of availments on the financial institution’s online and mobile banking platforms as people realize its advantage especially during this pandemic. In a reply to questions from PNA, UCPB First Vice… Read More
Agri, aquaculture to boost Mindanao economy: MinDA
August 10, 2020, 8:09 pm
DAVAO CITY – The Mindanao Development Authority (MinDA) said it will focus its efforts on the region's agriculture and fisheries sectors over the next five years as it aims for immediate recovery to counteract the economic slowdown triggered by the coronavirus disease 2019 (Covid-19) pandemic.In… Read More
DMCI Holdings Q2 earnings down 62% to P1.4B
August 10, 2020, 7:48 pm
MANILA – Diversified engineering conglomerate DMCI Holdings, Inc. posted PHP1.4 billion in consolidated earnings in the second quarter, 62 percent lower from PHP3.7 billion during the same period last year. This raised first-half net profit to PHP2.0 billion, a 69-percent year-on-year decline… Read More
