Business
PCCI to give award to fallen medical front-liners due to Covid-19
July 8, 2020, 4:45 pm
MANILA – Medical health workers who died of the coronavirus disease 2019 (Covid-19) while performing their duties will be conferred with posthumous awards by the country’s largest business organization, the Philippine Chamber of Commerce and Industry (PCCI). In a statement Wednesday, the… Read More
10-year T-bond coupon rate declines
July 7, 2020, 9:26 pm
MANILA – The rate of the Philippines’ 10-year Treasury bond (T-bond) declined Tuesday, which National Treasurer Rosalia de Leon attributed to the high liquidity situation in the domestic economy. Coupon rate of the freshly auctioned debt paper went down to 2.875 percent from the 6.875 percent… Read More
HSBC economist eyes another cut in BSP rates, RRR
July 7, 2020, 9:13 pm
MANILA – An economist of HSBC forecast on Tuesday a 25-basis points cut in the Bangko Sentral ng Pilipinas’ (BSP) key rates and another 200-basis points reduction in banks’ reserve requirement before the year-end as part of central bank’s measures to help lift the economy. In a virtual… Read More
Peso, stocks weaken on June inflation, Covid-19 cases upticks
July 7, 2020, 8:44 pm
MANILA – Spike in local coronavirus disease (Covid-19) infections and uptick of domestic inflation rate resulted in the weakness of both the peso and the Philippine Stock Exchange index (PSEi) Tuesday. The local currency finished the day at 49.54 to a US dollar from 49.381 a day ago. It opened… Read More
DOF maintains need for fiscal sustainability of stimulus plans
July 7, 2020, 8:16 pm
MANILA – Finance Secretary Carlos Dominguez III has maintained the Duterte administration’s position to anchor on fiscal prudence and sustainability any plans to stimulate the domestic economy amid the deepening coronavirus-induced global downturn, as state borrowings to beat the pandemic went… Read More
More businesses open under MGCQ in Dumaguete
July 7, 2020, 4:32 pm
DUMAGUETE CITY – Following the downgrading of Negros Oriental's status from general community quarantine (GCQ) to modified GCQ, tempura vendors and massage services were allowed to resume effective Monday. However, these are only allowed to operate at a 50 percent capacity between 3 p.m. to 9… Read More
Digital technology, agri value chain support key to stable prices
July 7, 2020, 2:19 pm
MANILA – Ensuring price stability through greater use of technology and supporting the agriculture value chain is necessary to help build consumer confidence and support the gradual recovery of the domestic economy, the National Economic and Development Authority (NEDA) said. The Philippine… Read More
Signs of manufacturing recovery seen as economy reopens: NEDA
July 7, 2020, 2:07 pm
MANILA – The manufacturing sector is showing signs of recovery in May 2020 and is expected to continue its rebound as the Philippine economy gradually reopens, the National Economic and Development Authority (NEDA) said. The recovery is seen in the increase in capacity utilization, as reported… Read More
Inflation manageable despite uptick in June: Diokno
July 7, 2020, 1:22 pm
MANILA – The country’s inflation rate remains manageable despite an uptick to a three-month high last June, with Bangko Sentral ng Pilipinas Governor Benjamin Diokno saying risks remain limited to the impact of the pandemic. The Philippine Statistics Authority (PSA) reported Tuesday that… Read More
DOF chief vows continuation of fuel marking program
July 6, 2020, 10:00 pm
MANILA – The pandemic will not hamper the government’s fuel marking program, Finance Secretary Carlos Dominguez III said on Monday. Department of Finance (DOF) data showed that as of July 2, 2020, the government was able to mark about 9.3 billion liters of fuel since the program started in… Read More
Covid-19 crisis to deepen economic slump in APEC: report
July 6, 2020, 9:28 pm
JAKARTA – The economic contraction from the coronavirus pandemic in the Asia-Pacific Economic Cooperation (APEC) region is expected to be deeper than previously projected, according to a new report from the APEC Policy Support Unit. The APEC region’s economic growth is now forecast to decline… Read More
T-bill rates sustain drop
July 6, 2020, 9:23 pm
MANILA – Rates of the Philippines’ Treasury bills (T-bills) declined across-the-board on Monday, still due to the recent cut in the Bangko Sentral ng Pilipinas’ (BSP) key policy rates. Average rate of the 91-day T-bill went down to 1.649 percent from 1.746 percent during the auction last… Read More
BOC-Cebu imposes P5K fine per clerical error to fight smuggling
July 6, 2020, 9:18 pm
CEBU CITY – The Bureau of Customs–Port of Cebu is imposing PHP5,000 fine per clerical error in the import entry and other customs documents as part of the campaign to eliminate technical smuggling and collect alternative sources of revenue. Lawyer Charlito Martin Mendoza, BOC-Cebu acting… Read More
NegOcc biz group pushes for new skills for crisis-hit workers
July 6, 2020, 8:33 pm
BACOLOD CITY – A business leader in Negros Occidental said helping workers develop new skills or livelihood during this time of pandemic is vital to enable them to adapt to available employment or a new environment. Frank Carbon, chief executive officer of Metro Bacolod Chamber of Commerce and… Read More
Peso ends higher, PSEi declines
July 6, 2020, 8:02 pm
MANILA – The Philippine peso improved against the US dollar Monday but the main equities index ended its four-day rally. The local currency finished the day at 49.381 against the greenback from 49.55 close Friday last week. It opened the day better at 49.52 from the 49.7 start in the previous… Read More
Diokno reiterates no penalty rules on unpaid dues during ECQ
July 6, 2020, 7:06 pm
MANILA – Borrowers need not worry about additional interest for payments due within the enhanced community quarantine (ECQ) period that were not paid, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said. In a virtual Palace briefing Monday, Diokno said the Bayanihan to Heal as One… Read More
DOE extends energy efficiency reporting to April 2021
July 6, 2020, 5:08 pm
MANILA – The Department of Energy (DOE) announced Monday it will extend the submission of the Annual Energy Efficiency and Conservation Reports (AEECR) for designated establishments until April 15, 2021. Under the Republic Act 11285, or the Energy Efficiency and Conservation Act and its… Read More
BTr sets July 15 auction for retail treasury bond
July 6, 2020, 3:52 pm
MANILA – The Bureau of the Treasury (BTr) will offer on July 15, 2020 another batch of retail treasury bonds (RTB), Presidential Spokesperson Harry Roque said. In a televised briefing Monday, Roque did not elaborate on the tenor and volume of the planned debt paper issuance but urged the public… Read More
Oil price rollback set on July 7
July 6, 2020, 3:13 pm
MANILA – Oil firms will reduce prices of gasoline and kerosene effective Tuesday after nine weeks of implementing increments. In separate advisories, Cleanfuel, Petro Gazz, Seaoil, and Shell said they will slash gasoline prices by PHP0.65 per liter. Seaoil and Shell also announced a rollback… Read More
Dominguez firm vs. sale of gov't assets for Covid-19 response
July 5, 2020, 7:58 pm
MANILA – Any plan to sell government assets to address funding requirements for programs against coronavirus disease (Covid-19) remains a plan for Malacañang. Asked whether President Rodrigo R. Duterte has discussed this plan with Finance Secretary Carlos Dominguez III, the latter, in a Viber… Read More
