Business
ALI raises P10-B from fixed-rate bonds
June 29, 2020, 9:40 pm
MANILA – Property developer Ayala Land Inc. (ALI) has raised PHP10-billion fixed-rate bonds, making it the first non-bank corporate to issue bonds in the local market since the country was placed under community quarantine. The bond due 2022 with a coupon rate of 3.00 percent per annum was… Read More
SEC-Cebu moves deadline of filing audited financial statements
June 29, 2020, 9:25 pm
CEBU CITY – The Securities and Exchange Commission–Cebu Extension Office is extending the deadline for the annual filing of audited financial statements (AFS) of corporations from June 30 to August 7, due to the reversion of the city to enhanced community quarantine (ECQ). Lawyer Alma Marie… Read More
Peso remains afloat, stocks index decline
June 29, 2020, 8:17 pm
MANILA – The peso firmed up against the US dollar Monday, but the main stocks index ended on the negative territory due to anxieties as coronavirus disease (Covid-19) cases post new highs globally. The local unit ended the week’s first trading day at 49.855 from 49.92 Friday last week. It… Read More
5 German energy firms eye biz opportunities in PH
June 29, 2020, 8:06 pm
MANILA – Five Germany companies are looking into business opportunities in the country through a virtual business-to-business (B2B) networking from June 30 to July 1. According to the German-Philippines Chamber of Commerce and Industry (GPCCI), German firms that will be participating the online… Read More
T-bills rates drop to below 2%
June 29, 2020, 5:45 pm
MANILA – The rates of Philippine Treasury bills (T-bills) declined to below 2 percent Monday following the 50 basis points reduction in the Bangko Sentral ng Pilipinas’ (BSP) key rates last week. The rate of the bellwether 91-day debt paper slipped to 1.746 percent, the 181-day to 1.892… Read More
EU to roll out P359-M ARISE+ project in PH
June 29, 2020, 2:30 pm
MANILA – The Philippines will soon benefit from the EUR6.4-million (PHP359 million) project of the European Union that targets to boost economic activities and help retaining jobs amid the coronavirus disease 2019 (Covid-19) pandemic. In a webinar of Employers Confederation of the Philippines… Read More
Oil prices to go up anew
June 29, 2020, 2:27 pm
MANILA – Oil companies will implement another price hike on Tuesday. Oil players such as Chevron (Caltex), Cleanfuel, Flying V, Petro Gazz, Seaoil and Shell will increase diesel prices by PHP0.30 per liter and PHP0.70 per liter for gasoline prices. Flying V, Seaoil, and Shell also announced an… Read More
IPOPHL urges MSMEs to protect intellectual property
June 28, 2020, 7:06 pm
MANILA – The Intellectual Property Office of the Philippines (IPOPHL) is calling on micro, small and medium enterprises (MSMEs) to protect their intellectual property (IP) rights in order to gain or maintain a competitive edge even amid a crisis. IPOPHL Director General Rowel Barba urged… Read More
Data shows high price of fertilizer prior to centralized bidding
June 28, 2020, 4:34 pm
MANILA – Prior to the centralized bidding of fertilizers, government data showed that the average price of urea in the country's 14 regions was higher than PHP1,000 per 50-kilogram (kg) bag. Based on data released by the Fertilizer and Pesticide Authority (FPA), the national average price… Read More
Economists weigh in on peso's resiliency in 2021
June 27, 2020, 12:42 pm
MANILA – An economist expects the Philippine peso to remain strong against the greenback on account of resilient domestic fundamentals but another economist forecasts it to weaken due to slower remittance growth and recovery on imports. Rizal Commercial Banking Corporation (RCBC) senior… Read More
Alorica opens nearly 4K BPO jobs
June 27, 2020, 11:53 am
MANILA – Business process outsourcing (BPO) firm Alorica, Inc. needs close to 4,000 jobs by end of July, the company said in a statement Friday. These BPO jobs are in Alorica offices in Alabang, Cebu, Centris, Clark, Cubao, Davao, Fort Bonifacio, Ilocos Norte, Lipa City, Makati, Marikina,… Read More
PH peso, stocks end week up
June 26, 2020, 6:46 pm
MANILA -- Both the Philippine peso and the main stocks gauge ended Friday on a positive note, a day after the Bangko Sentral ng Pilipinas (BSP) cut key rates anew. The local currency finished the trade at 49.92 from 50.00 a day ago. It opened the day at 50.00, little changed from its 50.05 start… Read More
PITC cancels 300,000 MT rice importation
June 26, 2020, 5:37 pm
MANILA – Department of Trade and Industry (DTI) Secretary Ramon Lopez said that its attached agency, Philippine International Trading Corp. (PITC), has abandoned the plan of importing 300,000 metric tons (MT) of rice. The PITC is tasked to implement government-to-government (G2G) rice… Read More
Pooled Covid-19 testing among construction, factory workers eyed
June 26, 2020, 2:23 pm
MANILA – The private sector-led Project ARK (Antibody Rapid Test Kit) targets to provide reverse transcription-polymerase chain reaction (RT-PCR) testing among workers in the construction and manufacturing sectors as well as returning overseas Filipinos. In a Laging Handa public briefing Friday,… Read More
Diokno cites BSP's contribution to Covid-19 response
June 26, 2020, 12:25 pm
MANILA – Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno described as uncalled for the observations that the central bank is carrying most of the weight of the government's response to the impact of the coronavirus disease 2019 (Covid-19). “We continue to work closely with the… Read More
Oil down with surprise increase in US crude production
June 25, 2020, 9:06 pm
ANKARA – Crude oil prices were down on Thursday with a surprise increase in US crude oil production, inciting fears of an increase in the global oil supply glut. International benchmark Brent crude was trading at USD39.92 per barrel at 0650 GMT for a 0.97-percent decline after closing Thursday… Read More
DOF further extends deadline for tax amnesty until Dec. 31
June 25, 2020, 8:59 pm
MANILA – The Department of Finance (DOF) has issued Revenue Regulations (RR) No. 15-2020 further extending until end of December 2020 the deadline on availing of the tax amnesty for delinquencies under Republic Act (RA) No. 11213, and ensuring the timely processing of such applications by the… Read More
Economists: Latest BSP rate decision to buoy PH economy
June 25, 2020, 8:13 pm
MANILA – Economists said the unexpected 50 basis points reduction in Bangko Sentral ng Pilipinas’ (BSP) key rates Thursday indicates the gravity of the situation, although it could help the economy from the projected contraction this year due to the pandemic. BSP’s policy-making Monetary… Read More
BSP cuts key rates by 50 bps anew
June 25, 2020, 7:46 pm
MANILA – Philippine monetary officials on Thursday announced an unexpected 50-basis-point reduction on the Bangko Sentral ng Pilipinas’ (BSP) key policy rates after citing the need to support the pandemic-hit domestic economy. The rate cut brought the central bank’s overnight reverse… Read More
Peso ends sideways vs. USD, stocks index slips anew
June 25, 2020, 5:56 pm
MANILA – Trade and pandemic concerns continued to weigh down on Philippine shares while the peso ended sideways against the US dollar Thursday. The local currency finished the trade at 50.00 to a greenback, almost unchanged compared to its 49.98 close Wednesday. It opened the day at 50.05,… Read More
