Business
URC’s Q2 net income surges 76%
July 31, 2020, 7:35 pm
MANILA – Gokongwei-led Universal Robina Corporation (URC) reported on Friday its net income surged by 76 percent to PHP3.8 billion in the second quarter of the year, on the back of strong operating performance and foreign exchange gains. In a statement, URC said its operating income grew… Read More
Bayad Center pushes for increased branches, online platforms
July 31, 2020, 7:26 pm
MANILA – Continued increase in the number of branches and online platforms are among the goals of the newly-appointed chief of the multi-channel payment platform, CIS Bayad Center Inc. CIS Bayad Center Inc. said it plans to open more than 200 sites for both the franchisees and local corporate… Read More
PH posts $1.9-B net receipts in H1
July 31, 2020, 6:37 pm
MANILA – The national government (NG) registered net receipts amounting to USD1.928 billion in the first half of 2020. Data from the Bangko Sentral ng Pilipinas (BSP) showed that total foreign exchange inflows from January to end-June reached USD8.203 billion, while foreign exchange… Read More
New int’l port construction in Cebu's north town sets to start
July 31, 2020, 5:49 pm
CEBU CITY – The construction of the New Cebu International Container Port (NCICP) will commence this year if consultancy work deadlines on the project are met as planned, the head of the Cebu Port Authority (CPA) on Friday said. Leonilo Miole, CPA general manager, said consultancy works on the… Read More
No need to sell gov’t properties to buy Covid-19 vaccines
July 31, 2020, 4:54 pm
MANILA – Department of Trade and Industry (DTI) Secretary Ramon Lopez said there is no need to sell government properties to buy vaccines for the coronavirus disease 2019 (Covid-19) once these become available. “We don’t need to sell a property. That’s why, we will be buying through PITC… Read More
PHirst Park Homes builds 7th project in Pampanga
July 31, 2020, 2:48 pm
MANILA – PHirst Park Homes, Inc. (PPHI), the first home buyer brand of Century Properties Group and Mitsubishi Corporation, has announced the acquisition of a 10-hectare property in Magalang, Pampanga for its seventh horizontal housing development this year on the back of its strong sales for… Read More
Landbank, DBP extend loans for Covid-19 vaccine acquisition
July 31, 2020, 2:16 pm
MANILA – State-owned Land Bank of the Philippines (Landbank) and Development Bank of the Philippines (DBP) will extend a combined PHP20-billion loan to finance the acquisition of coronavirus disease 2019 (Covid-19) vaccines once these become available. During the Presidential address Friday,… Read More
Goal to have 70% of adult Filipinos financially included doable
July 30, 2020, 8:28 pm
MANILA – Bangko Sentral ng Pilipinas’ (BSP) executives are confident of having 70 percent of the adult population part of the formal financial system by 2023 after basic deposit accounts rose since the enhanced community quarantine. In a virtual briefing Thursday, BSP Governor Benjamin Diokno… Read More
Landbank, ULAP tie-up raises lending program funds, cuts rates
July 30, 2020, 7:55 pm
MANILA – Land Bank of the Philippines (Landbank) is looking for ways to bring down the interest rate of its RISE UP local government units (LGUs) lending program with the help of local executives. RISE UP stands for Restoration and Invigoration package for a Self-sufficient Economy towards… Read More
DTI secures new funding for MSME loan program
July 30, 2020, 7:39 pm
MANILA – Trade Secretary Ramon Lopez said the Small Business (SB) Corp., the financing arm of the Department of Trade and Industry (DTI), has been able to secure fresh funding for the Covid-19 Assistance to Restart Enterprises (CARES) program to assist the recovery of small-scale businesses. In… Read More
Sun Life launches new investment option
July 30, 2020, 6:56 pm
MANlLA – Sun Life Asset Management Company, Inc. (SLAMCI) on Thursday launched the Sun Life Prosperity World Equity Index Feeder Fund, which gives domestic investors the chance to tap on the MSCI All Country World Index (ACWI). ACWI represents the performance of over 2,000 small to large… Read More
BSP forecasts July inflation rate to stay within 2.2-3%
July 30, 2020, 6:52 pm
MANILA – The Bangko Sentral ng Pilipinas (BSP) projects the rate of price increases in July to range between 2 to 2-3 percent. In a Viber message to journalists Thursday, BSP Governor Benjamin Diokno said the central bank’s Department of Economic Research (DER) considers as upside risks to… Read More
Peso ends sideways vs. USD, stock index slips
July 30, 2020, 6:48 pm
MANILA – The peso ended Thursday sideways against the US dollar but the Philippine Stock Exchange index (PSEi) ended its two-day rally. The local currency finished the day’s trade at 49.15 from the previous session’s 49.19. It opened the day at 49.115 from 49.19 a day ago. It traded… Read More
DTI launches online trade fair for PWD entrepreneurs
July 30, 2020, 4:38 pm
MANILA – The Department of Trade and Industry (DTI) began on Thursday the online trade fair featuring products of persons with disability (PWD) entrepreneurs in line with the celebration of the 42nd National Disability Prevention and Rehabilitation Week. The Biz-Ability Online Trade Fair, which… Read More
AboitizPower unit commences new digital substation in Davao
July 30, 2020, 4:30 pm
MANILA – Davao Light and Power Company, Inc., a distribution utility unit of AboitizPower, now uses digital substation in Davao City that will improve power services to households in surrounding areas. In a statement Thursday, AboitizPower said the new Calinan digital substation is the first… Read More
Boeing to further assess workforce size amid Covid-19 pandemic
July 30, 2020, 4:27 pm
SAN FRANCISCO – Boeing will further assess the size of its workforce amid the coronavirus disease 2019 (Covid-19) pandemic, the company's president and chief executive officer Dave Calhoun said on Wednesday. The market simply won't support higher output levels at this time, and the company… Read More
60K Bicol MSMEs back on their feet amid health crisis
July 30, 2020, 4:23 pm
LEGAZPI CITY – Thousands of enterprises in Bicol affected by the lockdown due to coronavirus disease 2019 (Covid-19) pandemic are slowly recovering, the Department of Trade and Industry (DTI) in Bicol said. In an interview, DTI regional director Rodrigo Aguilar said close to 60,000 or 75… Read More
50 MSMEs in Bohol get P300K livelihood kits: DTI-7
July 29, 2020, 7:59 pm
CEBU CITY – The Department of Trade and Industry (DTI) in Central Visayas on Wednesday handed over PHP300,000 worth of livelihood kits to 50 eligible micro, small and medium enterprises (MSMEs) from the four towns in the neighboring province of Bohol. The beneficiaries from the municipalities… Read More
PEZA online job fair now open
July 29, 2020, 7:55 pm
MANILA – The Philippine Economic Zone Authority (PEZA) has officially launched Wednesday its online job fair under the Development Outreach for Labor, Livelihood, and Advancement of Resources, or the DOLLAR program. One of the objectives of the DOLLAR program is linking Filipinos, especially… Read More
BSP sustains push for enhanced banknote security features
July 29, 2020, 7:49 pm
MANILA – The Bangko Sentral ng Pilipinas (BSP) continues to enhance the security features of new generation currency (NGC) banknotes even as it pushes for digital payments. “We are promoting digital payments as it is essential to financial inclusion. While we’re doing this, we also want to… Read More
