Business
Loan demand drops in Q2, banks tighten credit standards
July 27, 2020, 8:50 pm
MANILA – Demand for loans in the second quarter of 2020 declined to levels last seen in 2009 and banks tightened their credit standards given their outlook on the economy due to the pandemic. In a virtual briefing Monday, BSP Department of Economic Research (DER) acting Deputy Director Lara… Read More
Duterte urges lessors not to kick out MSME tenants
July 27, 2020, 8:20 pm
MANILA – As micro, small, and medium enterprises (MSMEs) thrive to survive amid the coronavirus disease (Covid-19) pandemic, President Rodrigo Duterte has asked lessors to come up with amenable arrangements with their tenants. In his 5th State of the Nation Address (SONA) Monday, Duterte cited… Read More
PH T-bill rates sustain decline
July 27, 2020, 7:28 pm
MANILA – Rates of the Philippines Treasury bills (T-bills) declined anew on investors’ optimism a few hours before the President’s fifth State-of-the-Nation Address (SONA) on Monday. The average rate of the 91-day T-bill declined to 1.335 percent, the 182-day to 1.605 percent, and the… Read More
Online mentorship program goes on amid pandemic: DTI-11
July 27, 2020, 6:57 pm
DAVAO CITY – The Department of Trade and Industry in Davao Region (DTI-11) said it will continue to train more entrepreneurs in Region 11 even with the coronavirus disease 2019 (Covid-19) pandemic.Dubbed as "Kapatid Mentor Me (KMME) Online Project," the initiative was designed to include… Read More
PRRD directs DA, DTI to create livelihood aid projects for OFWs
July 27, 2020, 6:39 pm
MANILA – President Rodrigo Duterte has committed to help overseas Filipino workers (OFWs), particularly those who were displaced from their jobs due to coronavirus disease 2019 (Covid-19) pandemic, by providing livelihood assistance including low-interest loans. “I direct the Department of… Read More
BSP exec eyes PH economic recovery starting Q3
July 27, 2020, 6:23 pm
MANILA – An economic recovery is projected in the third quarter of 2020 following the easing of movement restrictions starting middle of May, a ranking Bangko Sentral ng Pilipinas (BSP) executive said “Because of the easing of the containment measure, we believe that this will present an… Read More
PRRD says Ease of Doing Biz law gaining momentum
July 27, 2020, 6:01 pm
MANILA – President Rodrigo Duterte said Monday the Ease of Republic Act No. 11032, or the Ease of Doing Business (EODB) and Efficient Government Service Delivery Act, has eased the burden of businesses and the public in transacting with government offices. In his fifth State-of-the-Nation… Read More
Over 4,000 MW power projects seen until 2022
July 27, 2020, 5:56 pm
MANILA – The Department of Energy (DOE) said the country will have an additional 4,078 megawatts (MW) from committed power projects until 2022, the last two years of the Duterte administration. In its accomplishment report released Monday, the DOE said the bulk of the new capacity or around… Read More
Peso inches sideways, stocks slip ahead of SONA
July 27, 2020, 5:47 pm
MANILA – The peso ended sideways against the US dollar on Monday but was still on its more-than-three-year high while the main equities index slipped anew ahead of the President’s State-of-the-Nation Address (SONA). The local currency closed at 49.25 against the greenback from 49.33 on Friday… Read More
Seaoil tests station front-liners for Covid-19
July 27, 2020, 4:39 pm
MANILA – Fuel company Seaoil on Monday said it continues to provide coronavirus disease 2019 (Covid-19) testing for station frontliners of company-operated stations within the red zones of National Capital Region and Rizal. “At Seaoil, we value each employee’s health and safety. Testing our… Read More
Oil price hike set on July 28
July 27, 2020, 4:32 pm
MANILA – Oil firms are set to increase pump prices on Tuesday morning. In separate announcements, oil players Chevron (Caltex), Cleanfuel, Petro Gazz, PTT Philippines, Seaoil, and Shell said they would implement price hikes by PHP0.25 per liter on diesel, and PHP0.30 per liter on… Read More
Megaworld’s Cavite residential dev’t rakes in P3-B sales
July 27, 2020, 2:23 pm
MANILA – Megaworld Corp. generated PHP3 billion in sales from its first upscale residential village in Cavite which was sold out last month during the nationwide community quarantine. In a statement Monday, Megaworld said sales from the 18-hectare Arden Botanical Village peaked during the… Read More
5% franchise tax on offshore POGOs in effect since 2017: BIR
July 27, 2020, 2:04 pm
MANILA – The Bureau of Internal Revenue (BIR) has maintained that foreign-based Philippine Offshore Gaming Operators (POGOs) should pay the 5-percent franchise tax before they can resume their operations as stated in a memorandum circular issued by the agency back in 2017. BIR Commissioner… Read More
Cebu town reclamation project gets green light from DENR
July 27, 2020, 1:16 pm
CEBU CITY – The 100-hectare reclamation project in Minglanilla town, 15-kilometers south of this city, is finally pushing through after obtaining an Environmental Compliance Certificate (ECC) from the Department of Environment and Natural Resources (DENR). In a stock exchange disclosure over… Read More
DTI releases P5.4-B loan under P3 Program
July 26, 2020, 5:21 pm
MANILA – A total of PHP5.42 billion worth of loans were released by the Department of Trade and Industry (DTI), through its financing arm Small Business (SB) Corp., under its Pondo sa Pagbabago at Pag-asenso or P3 Program as of June 2020. In DTI’s technical report to the Office of the… Read More
PH peso seen to weaken in Q4 on projected imports recovery
July 24, 2020, 9:14 pm
MANILA – An economist of ING Bank Manila has forecast the Philippine peso to end the last quarter of 2020 at about 50.36, slightly weaker than its 49-level to date, on expectations that imports would also recover in the near term. In a virtual briefing on Friday, ING Bank Manila senior… Read More
Jollibee sees sales recovery; embarks on business transformation
July 24, 2020, 7:35 pm
MANILA – Homegrown food giant Jollibee Foods Corporation (JFC) expects sales recovery with the expansion of dine-in capacity of restaurants amid the coronavirus disease 2019 (Covid-19), as it prepares to implement changes in its global business structure. In a statement Friday, JFC chief… Read More
SEC sees progress in cases vs. KAPA after founder’s arrest
July 24, 2020, 7:27 pm
MANILA – The Securities and Exchange Commission (SEC) is looking forward to the progress of cases, now pending in various courts, against the Kapa-Community Ministry International (KAPA) following the arrest of founder Joel Apolinario for syndicated estafa. “With the mastermind already… Read More
Economist cites need for more fiscal measures to lift PH growth
July 24, 2020, 7:21 pm
MANILA – An economist of ING Bank Manila cited the need for a stimulus program that would encourage people to increase spending to ensure economic growth after the pandemic. In a virtual briefing on Friday, ING Bank Manila senior economist Nicholas Mapa said the economic output relies heavily… Read More
Peso remains at 3-yr high vs. USD, stocks slip anew
July 24, 2020, 6:27 pm
MANILA – The Philippine peso ended the week still on its highest level in over three years on continued US dollar weakness due to rising coronavirus disease 2019 (Covid-19) cases that negatively affected the main equities index. The local currency finished Friday’s trade at 49.33, its… Read More
