Business
PCA kicks off National Coconut Month celebration
August 6, 2020, 7:55 pm
MANILA – The Philippine Coconut Authority (PCA) on Thursday kicked off this year’s month-long celebration of the 34th National Coconut Week in a simple ceremony at the PCA Auditorium in on Elliptical Road, Quezon. Themed “Masaganang Niyugan tungo sa Kaginhawaan”, PCA Administrator Benjamin… Read More
DBCC revises GDP assumptions due to pandemic's impact
August 6, 2020, 7:40 pm
MANILA – Economic managers have revised their growth targets for 2020 and 2021 and these have been included in the proposed PHP4.506-trillion national budget for next year that has been approved by the President last July 30. In a statement Thursday, the inter-agency Development Budget… Read More
‘Build, Build, Build’ to usher in PH economy’s recovery
August 6, 2020, 7:35 pm
MANILA – Presidential Adviser for Flagship Programs Vivencio Dizon said on Thursday infrastructure projects under the administration’s “Build, Build, Build” program will help in the recovery of the economy after shrinking for the second consecutive quarter. The government reported a… Read More
Peso, stocks rise amid negative Q2 growth report
August 6, 2020, 7:31 pm
MANILA – The peso appreciated anew against the US dollar and the Philippine Stock Exchange index (PSEi) rallied for the third straight day Thursday amid the government’s report about the domestic economy registering a contraction for the second consecutive quarter. The main equities index… Read More
Gov’t issues new protocol in workplaces
August 6, 2020, 6:22 pm
MANILA – Trade Secretary Ramon Lopez said the departments of Trade and Industry (DTI), Labor and Employment (DOLE), and Health (DOH) will issue a new health protocol in workplaces strengthening the minimum health standards in business establishments. In a television interview Thursday, Lopez… Read More
Cebu province allots P105-M to help pandemic-affected MSMEs
August 6, 2020, 5:51 pm
CEBU CITY – Cebu Governor Gwen Garcia announced on Thursday the provincial government is allotting PHP105 million to provide financial assistance to distressed micro, small and medium entrepreneurs (MSMEs) affected by the coronavirus disease 2019 (Covid-19) crisis. She said a PHP15-million… Read More
PH’s virology center to rise in New Clark City
August 6, 2020, 4:18 pm
MANILA – The government has approved the establishment of a virology center as part of the flagship program of the Duterte administration. In a joint Development Budget Coordination Committee (DBCC) press conference Thursday, Presidential Adviser for Flagship Programs and Projects Vivencio… Read More
PH economy to post better results in H2: Diokno
August 6, 2020, 3:24 pm
MANILA – Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno is confident the Philippine economy will post better figures in the second half of the year after posting a pandemic-induced recession in the first half. The government reported a 16.5-percent economic contraction in the second… Read More
PH economy shrinks 16.5% in Q2 amid pandemic
August 6, 2020, 2:41 pm
MANILA – The Philippine economy contracted at a record pace of 16.5 percent in the second quarter of 2020 due to the impact of the coronavirus disease 2019 (Covid-19) pandemic, but sees signs of recovery. The government reported Thursday the country’s gross domestic product (GDP) declined by 9… Read More
Indonesia's economy shrinks after over 20 years
August 6, 2020, 2:28 pm
JAKARTA – Indonesia’s economy contracted for the first time in more than two decades due to the impact of the coronavirus disease (Covid-19) pandemic, the country’s Central Bureau of Statistics (BPS) announced on Wednesday. The gross domestic product (GDP) shrank by 5.32 percent in the… Read More
Brent futures add 1.6% on London’s ICE, above $45/barrel
August 5, 2020, 9:02 pm
MOSCOW – Brent oil futures with delivery in October 2020 gained 1.6 percent to USD45.14 a barrel on the London-based ICE on Wednesday. Brent prices were above USD45 per barrel last time on March 6, the day before the price collapse. Meanwhile WTI June futures prices add 1.53 percent to… Read More
MPIC’s core net profit down 38% to P5.3B in H1
August 5, 2020, 8:53 pm
MANILA – Infrastructure conglomerate, Metro Pacific Investments Corp. (MPIC), on Wednesday reported a 38-percent decline in profit in the first half of 2020 amid the economic contraction brought about by the quarantines to contain the spread of coronavirus disease 2019 (Covid-19) pandemic. MPIC… Read More
D&L Industries expects profit recovery in H2
August 5, 2020, 8:46 pm
MANILA – D&L Industries, a manufacturer of specialty food ingredients, plastics and oleochemicals, expects to recover its profit in the second half of 2020 after its net income declined by 43 percent in the first half, reflecting economic disruptions caused by the coronavirus disease 2019… Read More
Peso hits 3-year high, stocks up anew
August 5, 2020, 7:20 pm
MANILA – The peso closed at its strongest for more than 3.5 years against the US dollar on Wednesday while the Philippine Stock Exchange index (PSEi) rose anew partly on better manufacturing data for June 2020. The local currency finished the day’s trade at 49.075 from 49.095 Tuesday. It… Read More
Term deposit facility rates rise amid strong demand
August 5, 2020, 5:12 pm
MANILA – The rates of the Bangko Sentral ng Pilipinas’ (BSP) term deposit facility (TDF) rose across-the-board Wednesday but demand remained high due to ample domestic liquidity. Data released by the central bank showed that the rate of the seven-day TDF rose to 1.7542 percent, the 14-day to… Read More
Cebu City mall operators see recovering foot traffic amid GCQ
August 5, 2020, 5:08 pm
CEBU CITY – Foot traffic in shopping malls here is slowly recovering as dine-ins in food shops are now allowed albeit in a limited capacity. Celeste “Bong” Dy, operations head for the Visayas at AyalaMalls, said they “see an improvement in the traffic in the mall.” “Allowing… Read More
ARTA to approve pending telco, tower applications with LGUs
August 5, 2020, 4:03 pm
MANILA – Anti-Red Tape Authority (ARTA) Director General Jeremiah Belgica said a new Joint Memorandum Circular (JMC) will be issued that will automatically approve all pending applications for common towers with the local government units (LGUs). This is pursuant to the directive of President… Read More
Diokno optimistic of within-target '20 inflation amid upticks
August 5, 2020, 3:34 pm
MANILA – Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno remains confident of within-target inflation this year after rate of price increases accelerated for the second consecutive month last July to 2.7 percent from month-ago’s 2.5 percent. Average inflation rate in the first… Read More
PH trade sector continues gradual recovery
August 5, 2020, 3:30 pm
MANILA – The country’s merchandise trade performance continued its gradual recovery in both exports and imports in June 2020, the National Economic and Development Authority (NEDA) said. The Philippine Statistics Authority reported Wednesday the country’s total merchandise trade further… Read More
Risk mgt, resilience keys to sustaining stable inflation outlook
August 5, 2020, 3:14 pm
MANILA – The national and local governments need to strengthen risk management systems to ensure an unhampered and sufficient supply and delivery of essential commodities that will support a stable inflation for the country, the National Economic and Development Authority (NEDA) said. The… Read More
