Business
T-bill rates decline
August 10, 2020, 7:44 pm
MANILA – The rates of the Philippines treasury bills (T-bills) fell Monday, a few days after the government’s five-year retail treasury bond (RTB) offer ended. The rate of the 91-day T-bill slipped to 1.113 percent, the 182-day to 1.386 percent, and the 364-day to 1.746 percent. These were… Read More
Setback on PH economy temporary: Diokno
August 10, 2020, 7:10 pm
MANILA – Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno considers as temporary the economic weakness in the Philippines caused by the coronavirus disease 2019 (Covid-19) pandemic. In a Viber message to journalists Monday, Diokno said the 16.5-percent contraction of domestic output… Read More
DTI urges financial institutions to offer Islamic financing
August 10, 2020, 7:04 pm
MANILA – The Department of Trade and Industry (DTI) is encouraging public and private financial institutions in the country to offer Islamic banking and financing services amid the coronavirus disease 2019 (Covid-19) pandemic. In a statement Monday, the Export Marketing Bureau (EMB) said… Read More
Stocks recover, peso ends sideways
August 10, 2020, 6:59 pm
MANILA – The Philippine Stocks Exchange index (PSEi) recovered Monday due to bargain hunting after a slide at the end of last week, while the peso was little changed against the greenback. The main equities index rose 1.45 percent, or 84.90 points, to 5,930.92 points. All Shares increased by… Read More
Gasoline prices up, diesel and kerosene down on Aug. 11
August 10, 2020, 3:14 pm
MANILA – Oil companies will adjust fuel prices starting Tuesday morning. In separate advisories, Chevron, Cleanfuel, Flying V, Phoenix Petroleum, PTT Philippines, Seaoil and Shell will hike prices of gasoline by PHP0.25 per liter and will rollback diesel prices by PHP0.20 per liter. Chevron,… Read More
Port of Subic surpasses monthly target despite Covid-19
August 8, 2020, 11:34 am
SUBIC BAY FREEPORT – The Bureau of Customs (BOC) in the Port of Subic has surpassed its July target by 1.18 percent with collections amounting to PHP2.26 billion, despite the tightening caused by the coronavirus disease 2019 (Covid-19) pandemic among investors here. Port of Subic collector… Read More
BTr gains P516.3B from retail treasury bond offer
August 7, 2020, 9:43 pm
MANILA – The Bureau of the Treasury (BTr) raised PHP516.3 billion from the over two-week offer period of five-year retail treasury bond (RTB) that ended Friday. In a Viber message to journalists, National Treasurer Rosalia de Leon said they accepted PHP488.5 billion worth of submission as new… Read More
Gov't judiciously spending based on budget: Dominguez
August 7, 2020, 9:39 pm
MANILA – Finance Secretary Carlos Dominguez III said the government spending according to program and additional requirements are being addressed through prudent borrowings. Dominguez replied to a question regarding President Rodrigo R. Duterte’s statement that the government is running out… Read More
Allianz PNB Life, social biz tie-up to address PH protection gap
August 7, 2020, 9:32 pm
MANILA – Increased awareness on the importance of having insurance coverage makes officials of Allianz PNB Life and social enterprise Reach52 optimistic for their tie-up to address the protection gap in the country. Allianz PNB Life president and chief executive officer (CEO) Alexander Grenz… Read More
Credit card growth slows during lockdown despite online shopping
August 7, 2020, 8:17 pm
MANILA – Growth of credit card receivables declined as most shops are closed and people cannot travel due to the pandemic but online grocery shopping rose significantly. During the virtual launch of the Unionbank-Lazada credit card Friday, Union Bank of the Philippines (Unionbank) senior vice… Read More
Peso ends week sideways, stocks slip
August 7, 2020, 7:40 pm
MANILA – The peso closed Friday sideways against the US dollar but still on its strongest in over three years, while the Philippine Stock Exchange index (PSEi) ended its three-day rally. The local currency finished the day’s trade at 49.041 from 49.05 in the previous day. It opened the day… Read More
BPI lists PH's 1st social bond for MSMEs affected by pandemic
August 7, 2020, 6:21 pm
MANILA – Strong uptake on the Bank of the Philippine Islands’ (BPI) Covid Action Response Bond (CARE Bonds) will allow the Ayala-owned financial institution to further increase its lending to the micro, small and medium enterprises (MSMEs). The bank initially offered the 1.75-year debt paper… Read More
Metro Cebu mayors back random Covid-19 tests for workers
August 7, 2020, 3:27 pm
CEBU CITY – Local government leaders in Metro Cebu have backed measures requiring businesses to do random coronavirus disease 2019 (Covid-19) tests on their workers and suspend their operations if an employee is found positive of the virus. These measures are pushed by the Project Balik Buhay… Read More
BPO firm eyes hiring OFWs
August 7, 2020, 3:21 pm
MANILA – Business process outsourcing (BPO) company Alorica Inc. said it is offering jobs to repatriated overseas Filipino workers (OFWs) particularly those lost their jobs amid the coronavirus disease (Covid-19) pandemic. In a statement, Alorica said returning OFWs can pursue agent and… Read More
Gradual reopening with strict rules to help PH economy recover
August 7, 2020, 12:29 pm
MANILA – Trade Secretary Ramon Lopez on Friday said only through resuming business activities will the country's economy be able to recover after it plunged 16.5 percent in the second quarter of the year. But with the risk of Covid-19, Lopez underscored that strict health protocols should remain… Read More
PH credit rating downgrade 'highly unlikely': BSP chief
August 7, 2020, 12:28 pm
MANILA – Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno considers as “highly unlikely” any ratings downgrade for the Philippines after the domestic economy posted another growth contraction in the second quarter of 2020. “The sharp fall in Q2 GDP does not pose a danger to the… Read More
Gov't can fund ARISE but not this year: DOF exec
August 6, 2020, 9:12 pm
MANILA – A ranking Department of Finance (DOF) executive said the proposed Accelerated Recovery and Investments Stimulus for the Economy (ARISE) bill can be funded but not this year. In a virtual economic briefing hosted by Security Bank Corporation (Security Bank) on Thursday, Finance… Read More
Economists cite add'l measures to boost PH recovery
August 6, 2020, 9:01 pm
MANILA – Implementation of more fiscal measures, approval of additional stimulus measures, and more stringent implementation of health protocols will boost recovery of the Philippine economy from the pandemic. Michael Ricafort, Rizal Commercial Banking Corporation (RCBC) chief economist,… Read More
MSMEs call for speedy processing, release of loans
August 6, 2020, 8:29 pm
DAVAO CITY – The government can help struggling micro small medium enterprises (MSMEs) that are bearing the brunt of the coronavirus disease 2019 (Covid-19) by devising ways to speed up the release of loans and other economic reliefs, a business leader said. Marian Mahinay Comilang, the… Read More
PhilHealth execs told to fix info system
August 6, 2020, 8:24 pm
MANILA – Finance Secretary Carlos Dominguez III on Thursday said officials of the Philippine Health Insurance Corporation (PhilHealth) have been asked to put in order their questionable information system since October 2019. During the joint briefing of the National Economic and Development… Read More
