Business
Strong e-payments growth seen
July 3, 2020, 8:16 pm
MANILA – Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said he is optimistic about the further expansion of electronic payments in the country after consumers saw their benefits during the lockdown due to the coronavirus disease 2019 (Covid-19) health crisis. In a virtual briefing… Read More
DTI releases 1st batch of loan to small firms under CARES program
July 3, 2020, 7:30 pm
MANILA – The Department of Trade and Industry (DTI) released Friday the first batch of loans under the Covid-19 Assistance to Restart Enterprises (CARES) program to micro and small enterprises. Fifteen borrowers from the National Capital Region and 26 borrowers from the Cordillera… Read More
Equities index, peso close to new highs on risk-on sentiments
July 3, 2020, 6:34 pm
MANILA – Both the peso and the main stocks gauge closed to new highs on Friday as investors cheered positive reports on a possible coronavirus disease 2019 (Covid-19) vaccine. The local currency finished the day’s trade at 49.55 to the US dollar from its 49.73 close on Thursday after… Read More
SMC opens Covid-19 testing lab for 70K workforce
July 3, 2020, 6:09 pm
MANILA – San Miguel Corporation (SMC) on Thursday opened its Better World Edsa, a facility that houses the company’s own state-of-the-art Covid-19 RT-PCR (reverse transcription-polymerase chain reaction) testing laboratory which aims to test some 70,000 employees in its network to unburden the… Read More
Save big businesses first: FPI
July 3, 2020, 5:57 pm
MANILA – Big businesses are asking the government to first save their ranks from financial ruin before focusing its limited resources on countless much smaller and supposedly less economically viable enterprises amid the pandemic-spawned economic recession. The Federation of Philippine… Read More
DOE eyes new tax perks’ rates for energy efficiency projects
July 3, 2020, 3:59 pm
MANILA – The Department of Energy (DOE) is proposing new income tax holiday (ITH) rates for energy efficiency and conservation (EE&C) projects. In an interview, Energy Utilization Management Bureau Director Patrick Aquino said DOE will be conducting public consultations on the endorsement… Read More
IPOPHL, PIDS to enhance intellectual property research
July 3, 2020, 3:11 pm
MANILA – The Intellectual Property Office of the Philippines (IPOPHL) has partnered with the Philippine Institute for Development Studies (PIDS) to increase research activities and enable intellectual property (IP) policies to be more effective in driving innovation and creativity in the… Read More
ARTA asks BIR, others to help online sellers register
July 3, 2020, 12:35 pm
MANILA – The Anti-Red Tape Authority (ARTA) is meeting with the Bureau of Internal Revenue (BIR), the Department of Trade and Industry (DTI), Securities and Exchange Commission (SEC), and the Department of the Interior and Local Government (DILG) on Friday to discuss how to make the business… Read More
Rural banks’ reserves compliance loan to MSMEs hit P44.2-B
July 2, 2020, 9:10 pm
MANILA – About 88 rural banks have availed of the relief measures that are considered as alternative compliance to the reserve requirement rule by extending loans to micro, small and medium enterprises (MSMEs). Citing latest central bank data, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin… Read More
DTI probes J&T Express mishandling of packages
July 2, 2020, 7:32 pm
MANILA – Trade Secretary Ramon Lopez said the Department of Trade and Industry (DTI) has taken actions regarding the mishandling of packages by logistics firm J&T Express Philippines that became a viral video in social media. During the Laging Handa public briefing Thursday, Lopez said the DTI… Read More
PH banks ask BSP to extend some relief measures
July 2, 2020, 7:27 pm
MANILA – Banks have requested the Bangko Sentral ng Pilipinas (BSP) for the extension of some relief measures undertaken since the implementation of the enhanced community quarantine middle of March. The requests are primarily for operational relief measures, such as the non-submission of… Read More
Stocks rally; peso gains on news of possible Covid-19 vaccine
July 2, 2020, 7:23 pm
MANILA - The local stock barometer rallied above 6,300-level on Thursday while the peso also ended on a positive note partly on news about a possible vaccine against the coronavirus disease (Covid-19). The Philippine Stock Exchange index (PSEi) rose by 2.49 percent, or 154.37 points, to 6,364.08… Read More
DTI eyes to disburse P1-B loan to micro, small firms by end-July
July 2, 2020, 5:28 pm
MANILA – The Department of Trade and Industry (DTI) is targeting to complete the disbursement of PHP1 billion worth of loans to small businesses under the Covid-19 Assistance to Restart Enterprises (CARES) program, DTI Secretary Ramon Lopez said. Lopez said some 22,932 applications were… Read More
FMIC, UA&P forecast PH economic recovery in Q3
July 2, 2020, 4:29 pm
MANILA – Recovery of the Philippine economy is projected to start in the third quarter of 2020 with easing of movement restrictions which provided a leeway for more economic activities. In the June 2020 issue of The Market Call jointly done by the First Metro Investment Corporation (FMIC) and… Read More
Victorias Milling distillery gets P100-M upgrade
July 2, 2020, 2:54 pm
BACOLOD CITY – Negros Occidental-based sugar producer Victorias Milling Company (VMC) has temporarily stopped the operations of its Manapla distillery to introduce a PHP100-million environmental improvement to the industrial plant. VMC president Minnie Chua said the company is complying with… Read More
Tourism could lose $1.2-T due to pandemic: UN
July 2, 2020, 2:44 pm
GENEVA – The world's tourism sector could lose at least USD1.2 trillion or 1.5 percent of the global gross domestic product (GDP), after a four-month standstill due to the coronavirus disease 2019 (Covid-19) pandemic, the UN Trade and Development Agency (UNCTAD) said Wednesday. The UN agency… Read More
Buy local, save jobs: DTI chief
July 2, 2020, 2:24 pm
MANILA – Department of Trade and Industry (DTI) Secretary Ramon Lopez has urged Filipinos to continue supporting local products to save local jobs. During the Laging Handa public briefing Thursday, Lopez said buying locally made products will help stimulate demand for Filipino micro, small, and… Read More
Dominguez cites need to open up economy
July 2, 2020, 1:24 pm
MANILA – Finance Secretary Carlos Dominguez III cited the need to allow the economy to continue opening up to allow the people to “get back on their feet” and regain what was lost during the community quarantine amid the coronavirus disease (Covid-19) pandemic. During the televised public… Read More
SSS returns P5-B unused wage subsidy allocation to BTr
July 2, 2020, 1:20 pm
MANILA – The Social Security System (SSS) has returned about PHP5 billion to government coffers from the untapped allocation for the Small Business Wage Subsidy (SBWS) program. During the Laging Handa public briefing Wednesday, SSS president and chief executive officer Aurora Ignacio said… Read More
P711-M pandemic aid released to 7-Eleven franchisees
July 1, 2020, 9:20 pm
MANILA – Philippine Seven Corp. (PSC), the exclusive licensor of 7-Eleven in the country, has started releasing its PHP711-million pandemic support program (PSP) for its franchisees. In a statement, the PSC said the program allows 7-Eleven franchisees to borrow money from PSP’s credit line at… Read More
