Business
BSP’s TDF rates post mixed results, demand still high
July 29, 2020, 7:44 pm
MANILA – Rate of the Bangko Sentral ng Pilipinas’ (BSP) seven and 14-day term deposit facilities (TDF) declined anew Wednesday unlike that of the 28-day facility, but demand for all tenors remained high. Rate of the shortest tenor fell to 1.7535 percent from 1.7554 percent during the auction… Read More
Dominguez asks DOJ's help vs. fake cryptocurrency traders
July 29, 2020, 7:41 pm
MANILA – Department of Finance (DOF) Secretary Carlos Dominguez III has asked the National Bureau of Investigation (NBI) to run after the people behind the fake cryptocurrency trading that are using names of government officials and celebrities. In a letter sent to Justice Secretary Menardo… Read More
BSP implements measures to support economic recovery: Diokno
July 29, 2020, 7:37 pm
MANILA – Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said the worst is over for the Philippine economy vis-à-vis the impact of the pandemic, however, the BSP remains committed to implementing measures to support recovery. “The worst is over. But while we’re not out of the… Read More
DOE lauds signing of EO on possible use of nuclear energy in PH
July 29, 2020, 7:32 pm
MANILA – The Department of Energy (DOE) has lauded the signing of Executive Order 116 that will kick off study on the viability of including nuclear power in the country’s energy mix.In a statement Wednesday, DOE Secretary Alfonso Cusi said its signing by President Rodrigo Duterte last July 24… Read More
Stocks index rallies again, peso flat vs. USD
July 29, 2020, 7:27 pm
MANILA – The Philippine Stock Exchange index (PSEi) gained anew Tuesday but the peso ended the day flat against the US dollar. The main equities index rose by 0.66 percent, or 39.16 points, to 5,966.27 points. All Shares followed with a 0.42 percent, or 14.60 points, jump to 3,508.24… Read More
Clark airport defers rental collection from locators
July 29, 2020, 4:21 pm
CLARK FREEPORT, Pampanga – Heeding the call of President Rodrigo Duterte during his State of the Nation Address (SONA) last Monday, the Clark International Airport Corporation (CIAC) announced on Wednesday that it is deferring the collection of lease rentals from its locators to assist the… Read More
Mactan-Cebu airport eyes 2nd runway as air travel recovery looms
July 29, 2020, 3:28 pm
CEBU CITY – Anticipating the recovery of air travel amid the public health crisis, the Mactan-Cebu International Airport Authority (MCIAA) is bent on pursuing the construction of the parallel runway as part of its long-term development plan. In a virtual interview here hosted by the Office… Read More
More business activities allowed in GCQ areas starting August 1
July 29, 2020, 3:23 pm
MANILA – Some industries under Category 4 will be allowed in areas under general community quarantine (GCQ) starting August 1. In a text message Wednesday, Trade Secretary Ramon Lopez said the Inter-Agency Task Force for the Management of Emerging Infectious Diseases (IATF) has approved the… Read More
Aboitiz Equity nets P4B in first semester
July 28, 2020, 7:43 pm
MANILA – Aboitiz Equity Ventures, Inc. (AEV) on Tuesday reported its net income declined by 55 percent to PHP4 billion in the first half of 2020 from PHP9 billion recorded during the same period last year, reflecting the impact of the lower income contribution of its largest business unit,… Read More
Cebu biz sector backs PRRD’s call for improved connectivity
July 28, 2020, 7:29 pm
CEBU CITY – While they recognize the efforts of telecommunication companies to improve connectivity, business leaders in Cebu have welcomed President Rodrigo Duterte’s stern call on the telecommunications industry to improve their service to their subscribers. The business sector here… Read More
Economists see further deceleration of '20 average inflation
July 28, 2020, 7:26 pm
MANILA – Economists surveyed by the Bangko Sentral ng Pilipinas (BSP) in the second quarter this year forecast further deceleration of average rate of price increases. According to the BSP’s second-quarter 2020 inflation report, forecasts of 25 private firm economists surveyed by the central… Read More
DTI eyes add’l P5-B fund for MSME loan program
July 28, 2020, 7:21 pm
MANILA – The Department of Trade and Industry (DTI) is looking into an additional budget of PHP5 billion to continue its zero-interest loan program for micro, small, and medium enterprises (MSMEs). DTI Secretary Ramon Lopez said Tuesday the amount “would be good enough for now” to augment… Read More
Stocks index recovers, peso sustains rally
July 28, 2020, 5:49 pm
MANILA – After five days of decline, the Philippine Stock Exchange index (PSEi) recovered Tuesday while the peso ended trading slightly higher and still at more than three-year high. The main equities index rose 1.13 percent, or 66.17 points, to 5,927.11 points. All the other counters also… Read More
DTI chief urges rental discounts for MSME lessees
July 28, 2020, 5:43 pm
MANILA – As President Rodrigo Duterte asked lessors of commercial spaces to come up with amenable arrangements with their tenants, Trade Secretary Ramon Lopez has cited ways to give rental discounts to micro, small and medium enterprise (MSME) lessees amid the pandemic. In a radio interview… Read More
Cebu biz leaders optimistic on PRRD’s plan for economic recovery
July 28, 2020, 3:12 pm
CEBU CITY – Business leaders here have expressed their optimism on the economic recovery plans announced by President Rodrigo Duterte in his fifth State-of-the-Nation Address (SONA) Monday. Steven Yu, Mandaue Chamber of Commerce and Industry president, said the issues concerning businesses… Read More
Opening of cybercafés for education purposes eyed under GCQ
July 28, 2020, 3:03 pm
MANILA – The Department of Trade and Industry (DTI) will be proposing to the Inter-Agency Task Force for the Management of Emerging Infectious Diseases (IATF-EID) the opening of internet cafés in areas under general community quarantine (GCQ). In a radio interview Tuesday, DTI Secretary Ramon… Read More
APEC affirms pledge to ease essential goods, service movement
July 28, 2020, 2:48 pm
JAKARTA – The trade ministers of Asia-Pacific Economic Cooperation (APEC) have reaffirmed their commitment to enabling the movement of essential goods and services, particularly amid the coronavirus disease 2019 (Covid-19) pandemic. The reassertion of that commitment is delineated in a… Read More
PH in good fiscal position to beat pandemic: PRRD
July 27, 2020, 10:21 pm
MANILA – President Rodrigo R. Duterte is optimistic the domestic economy will be able to surpass the challenges posed by the coronavirus disease 2019 (Covid-19) pandemic. In his fifth State-of-the-Nation Address (SONA) on Monday, the President said the government’s “fiscal position is… Read More
PRRD calls on lawmakers to pass CREATE Act
July 27, 2020, 10:03 pm
MANILA – President Rodrigo R. Duterte on Monday called on lawmakers for the immediate passage of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act to help boost the domestic economy’s recovery. The measure aims to help enterprises immediately bounce from the impact of the… Read More
Gov’t to crackdown online scammers
July 27, 2020, 9:21 pm
MANILA – President Rodrigo Duterte warned on Monday online scammers that the government will go after them as it intensifies consumer protection. This, according to Duterte in fifth State of the Nation Address (SONA), as online transactions surged since community quarantine measures were… Read More
