Business
DTI raises purchase limit on essential goods
June 25, 2020, 5:32 pm
MANILA – From two bottles of disinfecting alcohol and five pieces of face masks per transaction, consumers can now buy up to five bottles of alcohol and one box of face masks in supermarkets as the Department of Trade and Industry (DTI) eases the purchase limit on essential goods. The DTI… Read More
Visa initiative prioritizing local products boosts SMEs
June 25, 2020, 5:05 pm
MANILA – Small and medium enterprises (SMEs) in the Philippines will get an additional boost in the coming months through Visa’s “Where You Shop Matters” initiative that encourages people to prioritize local products. Under this program, the global payments technology firm allows small… Read More
RCEP deal conclusion eyed amid pandemic
June 25, 2020, 1:52 pm
MANILA – Trade ministers of Regional Comprehensive Economic Partnership (RCEP) participating countries have reaffirmed their commitment to conclude the trade deal among Asean and its free trade agreement (FTA) partners –Australia, New Zealand, China, South Korea, and Japan. During the 10th… Read More
Global economy to contract by 4.9% in 2020: IMF
June 25, 2020, 1:30 pm
ISTANBUL – The International Monetary Fund (IMF) on Thursday once again slashed its economic forecasts, estimating a contraction of 4.9 percent in global gross domestic product (GDP), lower than the 3 percent it predicted previously. "The (coronavirus disease 2019) Covid-19 pandemic has had a… Read More
Sun Life exec assures company's strength amid health crisis
June 25, 2020, 7:50 am
MANILA – The ongoing pandemic has not negatively impacted Sun Life of Canada (Philippines) Inc. (Sun Life) business and its executives assured policyholders that the company remains strong. In a virtual briefing Wednesday, Sun Life CEO and Country Head Benedict Sison said the company has “not… Read More
SM boosts online, offline capabilities amid pandemic
June 24, 2020, 9:48 pm
MANILA – Conglomerate SM Investments Corporation will continue building its online assets to expand market reach and meet customers’ needs, hopeful of a recovery in business and the return of vibrancy in consumer activity amid the coronavirus disease 2018 (Covid-19) pandemic. “We have… Read More
ADB grants MFI-NGO $30-M credit facility for micro-entrepreneurs
June 24, 2020, 8:50 pm
MANILA – Microfinance institution and non-government organization (MFI-NGO) ASA Philippines Foundation has received the first tranche of the credit facility from the Asian Development Bank (ADB) amounting to USD10 million, which it will extend as loans to over 25,000 women-entrepreneurs owning… Read More
Peso strengthens vs USD, stocks index decline
June 24, 2020, 8:14 pm
MANILA – The peso improved to 49-level against the US dollar Wednesday but the main stocks gauge weakened as investors continued to weigh global developments on the coronavirus disease 2019 (Covid-19) pandemic. The local unit finished the day’s trade at 49.98 from its 50.19 close against the… Read More
Term deposit rates decline anew
June 24, 2020, 7:07 pm
MANILA – The rates of the Bangko Sentral ng Pilipinas’ (BSP) term deposit facility (TDF) slipped Wednesday, still on strong demand. Data released by the central bank showed that the average rate of the seven-day facility declined to 2.2504 percent, and the 14-day day facility to 2.2508… Read More
2021 budget focuses on economic recovery, livelihood
June 24, 2020, 6:56 pm
MANILA – The programs that will ensure the recovery of the Philippine economy, as well as people’s livelihood, will be the priorities under the proposed PHP4.3-trillion national budget for next year. The proposed 2021 national budget is slightly higher than the PHP4.1 trillion this… Read More
Fiscal prudence crucial for PH recovery: DOF chief
June 24, 2020, 6:48 pm
MANILA – Maintaining fiscal prudence to support and improve credit rating is a must for the Philippines in its bid to recover from the impact of the pandemic, Department of Finance (DOF) Secretary Carlos Dominguez III said. During the virtual Kapihan sa Manila Bay forum Wednesday, Dominguez… Read More
PH on track to achieving SDG on energy: DOE chief
June 24, 2020, 6:41 pm
MANILA – Department of Energy (DOE) Secretary Alfonso Cusi said the Philippines is on track to achieving the United Nations' Sustainable Development Goal (SDG) number seven, or the access to affordable and clean energy. In his speech at the virtual 5th Global Conference on Energy Efficiency of… Read More
CLI housing sales rise 20% in H1 despite coronavirus lockdown
June 24, 2020, 5:53 pm
MANILA – Cebu Landmasters, Inc., a residential developer in Visayas and Mindanao, sold PHP3.4 billion worth of homes or over 1,500 housing units for economic and mid-market buyers from April to June despite a national lockdown due to the coronavirus disease 2019 (Covid-19) pandemic. This… Read More
SM, Robinson bid for Baguio market dev’t
June 24, 2020, 5:26 pm
BAGUIO CITY – Retail giants SM Prime Holdings Inc. and Robinson’s Corporation are the remaining bidders for the city market which has been waiting development since 1995. City administrator Bonifacio dela Peña said Wednesday the two companies are keen to develop the market which was supposed… Read More
Nearly 10K complaints filed due to bogus online transactions
June 24, 2020, 4:42 pm
MANILA – Department of Trade and Industry (DTI) Secretary Ramon Lopez bared Wednesday his office received nearly 10,000 complaints related to fraudulent online transactions in the first six months of the year. In the virtual Kapihan sa Manila Bay, Lopez said around 1,000 complaints were filed… Read More
SEC advances right to inspect corporate records
June 24, 2020, 4:35 pm
MANILA – The Securities and Exchange Commission (SEC) is finalizing the guidelines that would affirm the right of directors, trustees, stockholders, and members to inspect the records of corporations. The SEC on June 23 released the draft memorandum circular providing the Guidelines in… Read More
Angeles City extends support to MSMEs
June 23, 2020, 9:52 pm
ANGELES CITY, Pampanga – Micro, small and medium enterprises (MSMEs) can use the One Town, One Product (OTOP) souvenir center here to showcase and promote their merchandise free of charge. The city government of Angeles made this initiative to help MSMEs recover from the impact of the… Read More
PH foreign reserves surge to record-high $93.3-B in May
June 23, 2020, 9:44 pm
MANILA – The country’s gross international reserves (GIR) level, based on preliminary data, rose by USD2.35 billion to USD93.29 billion as of end-May 2020 from the end-April 2020 level of USD90.94 billion. The month-on-month increase in the GIR level reflected inflows mainly from the… Read More
Better currency swap system among Asean takes effect on June 23
June 23, 2020, 9:00 pm
MANILA – The amended Chiang Mai Initiative Multilateralization (CMIM) agreement is set to take effect on June 23, offering a stronger currency swap arrangement and financial safety net among Association of Southeast Asian Nations (Asean) member-states and their partner-economies in the… Read More
Global trade leaning toward more positive scenario: WTO
June 23, 2020, 8:51 pm
MANILA – The World Trade Organization (WTO) has updated its global trade outlook for this year amid the coronavirus disease 2019 (Covid-19) pandemic, projecting it is “unlikely to reach the worst-case scenario”. In April, WTO forecasted that global trade would decline between 13 percent and… Read More
