Business
Baciwa inks 25-year joint venture deal with PrimeWater
July 18, 2020, 9:04 am
BACOLOD CITY – The Bacolod City Water District (Baciwa) has entered into a 25-year joint venture agreement with the Villar-owned PrimeWater Infrastructure Corp. Chairman of Baciwa’s Board of Directors, lawyer Lorendo Dilag, and PrimeWater vice president Romeo Sabater announced the signing of… Read More
Cebu City mall operators reassure IATF on health standards
July 17, 2020, 8:45 pm
CEBU CITY – Mall and shopping center operators here on Friday reassured the Inter-Agency Task Force for the Management of Emerging Infectious Diseases (IATF-EID) that they would abide by the standard health and safety measures in opening their establishments during the modified enhanced… Read More
Clark Freeport explores ways to sustain operations, employment
July 17, 2020, 8:09 pm
CLARK FREEPORT, Pampanga – The Clark Development Corp. (CDC) and the Clark Investors and Locators Association (CILA) are exploring various ways to sustain the operation of the firms and employment of thousands of workers in this Freeport in light of the coronavirus disease (Covid-19) pandemic.… Read More
Piracy tops intellectual property violations in March-June
July 17, 2020, 7:52 pm
MANILA – Intellectual Property Office of the Philippines (IPOPHL) Director Rowel Barba said piracy activities accounted for most intellectual property rights violation reports from March to June. In a speech delivered during a webinar organized by the Philippine Chamber of Commerce and Industry… Read More
Gov't-owned OFBank registers 300 account openings daily
July 17, 2020, 7:20 pm
MANILA – The digital-only state-owned Overseas Filipino Bank (OFBank) has registered about 300 account openings a day since its mobile application was launched last June 29, OFBank president and chief executive officer (CEO) Leila Martin said. In an interview during the Laging Handa public… Read More
PH gets P336-M from EU for sustainable energy projects
July 17, 2020, 7:17 pm
MANILA – The European Union (EU) has provided additional funding for the Philippines under the Access to Sustainable Energy Program (ASEP), amounting to 6 million euros or about PHP336 million. The European Union Delegation to the Philippines told the Philippine News Agency (PNA) that the fresh… Read More
Peso hits more than 3-yr high; stocks slip
July 17, 2020, 7:11 pm
MANILA – The peso surged to its more than three-year high level against the US dollar Friday after Moody’s Investors Service affirmed its investment-grade rating on the country, but the main equities index contracted on worries on the rise of coronavirus disease 2019 (Covid-19) cases. The… Read More
Mindanao dev't gets boost via P3.4-B grant from EU
July 17, 2020, 5:54 pm
MANILA – Mindanao’s farm productivity and strengthening of institutions in the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) got a further boost through PHP3.4 billion (60.5 million euros) worth of grants from the European Union (EU). Specifically, the Mindanao Peace and Development… Read More
Economy picks up as biz sector adapts to new normal: DCCCII
July 17, 2020, 5:50 pm
DAVAO CITY – The local economy has continued pacing towards recovery as more businesses reopen and adapt to the new normal,the Davao City Chamber of Commerce and Industry, Inc. (DCCCII) said in a statement Thursday."The critical point in our recovery was when we emerged from enhance community… Read More
PEZA sets investment talks with Asian, European, American firms
July 17, 2020, 5:27 pm
MANILA – The Philippine Economic Zone Authority (PEZA) continues to market the country as an investment destination for foreign investors even amid the global health crisis. In a phone interview Friday, PEZA Director General Charito Plaza said the investment promotion agency is partnering with… Read More
Economic managers study quarantine impact on economy
July 17, 2020, 1:39 pm
MANILA – Authorities continue to study the impact of the quarantine across the country, vis-à-vis this year’s economic growth, especially now that the National Capital Region (NCR) remains under general community quarantine (GCQ). The quarantine level in the NCR has been extended until the… Read More
Stocks index recovers; peso almost flat
July 17, 2020, 8:55 am
MANILA – Hopes for the possible vaccine against the coronavirus disease 2019 (Covid-19) based on the result of the latest trials resulted in risk-on sentiments in the local equities market Thursday but the peso ended the day sideways against the US dollar. The Philippine Stock Exchange index… Read More
BSP not yet mopping up liquidity from relief measures
July 17, 2020, 8:14 am
MANILA – Measures implemented by the central bank to help ensure healthy economic activities despite the pandemic injected as much as PHP1.3 trillion into the financial system, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said. While the central bank resumed offering all term… Read More
7-Eleven cuts capital spending; store openings amid pandemic
July 17, 2020, 7:29 am
MANILA – Philippine Seven Corporation (PSC), the exclusive licensor of 7-Eleven stores in the country, is slashing by half its capital expenditures (capex) budget this year as it reduces store openings target amid the coronavirus disease (Covid-19) pandemic. “About the capital expenditures, we… Read More
Digital platforms to access retail treasury bonds backed
July 16, 2020, 9:33 pm
MANILA – The National Economic and Development Authority (NEDA) supports the recent move of the Bureau of the Treasury (BTr) of the Philippines to explore digital platforms in allowing investors to access investments in retail treasury bonds (RTB). “The launch of Bonds.Ph app comes at a very… Read More
26% of businesses closed operations in June: DTI survey
July 16, 2020, 9:29 pm
MANILA – Department of Trade and Industry (DTI) Secretary Ramon Lopez said Thursday 25.9 percent of businesses surveyed from June 4 to 17 have closed their operations, some of them temporarily. This is after vital parts of the country, including Metro Manila where most number of business… Read More
PH gets credit rating affirmation from Moody's
July 16, 2020, 9:11 pm
MANILA – The Philippines continues to defy trends after Moody’s Investors Service on Thursday affirmed its Baa2 rating with stable outlook on the country, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said. In a Viber message to journalists, Diokno said this latest decision by… Read More
Cusi welcomes Meralco’s action on bill, convenience fee issues
July 16, 2020, 6:54 pm
MANILA – Energy Secretary Alfonso Cusi has welcomed the actions taken by Manila Electric Co. (Meralco) to address the customers’ complaints on electricity bills and the convenience fee for online payment. Cusi said he received a letter from Meralco president and chief executive officer Ray… Read More
Ayala Group pushes more gov't support for MSMEs
July 16, 2020, 6:38 pm
MANILA – Ayala Corp. chief executive officer Jaime August Zobel de Ayala on Thursday said the government should provide more support to keep the micro, small, and medium enterprises (MSMEs) afloat amid the coronavirus disease (Covid-19) pandemic. During the "Build Back Better: Economic… Read More
Coca-Cola kicks off P157-M loan for sari-sari store owners
July 16, 2020, 5:59 pm
MANILA – Coca-Cola Philippines has initiated a micro-financing program worth PHP157 million to help community-based businesses like sari-sari stores and carinderia to restart their operation after being affected by the coronavirus disease (Covid-19) pandemic and the community quarantine. In a… Read More
