Business
Peso ends sideways, main stocks index slips
June 23, 2020, 8:42 pm
MANILA – The peso closed sideways against the US dollar Tuesday, but the main stocks index slipped partly on a report about the government’s budget deficit last May. The local currency finished the day at 50.19 from its 50.14 close a day ago. It opened the trade at 50.1, little changed… Read More
PH eyes safeguard measures on imported aluminum, steel products
June 23, 2020, 7:50 pm
MANILA – The Department of Trade and Industry (DTI) has notified the World Trade Organization (WTO) of its three preliminary safeguard investigations on imported aluminum and steel products, indicating that the domestic industry has suffered due to a surge in imports. “The investigation has… Read More
10-year T-bond rate falls; BTr makes full award
June 23, 2020, 7:46 pm
MANILA – The Bureau of the Treasury (BTr) on Tuesday fully awarded the 10-year re-issued Treasury bond due to strong demand. The rate of the debt paper, which has a remaining life of 5.2 years, averaged at 3.182 percent, which National Treasurer Rosalia de Leon said is lower than the previous… Read More
PNB’s loan loss provisions hike due to ’20 GDP outlook
June 23, 2020, 5:36 pm
MANILA – Tan-led Philippine National Bank (PNB) posted higher loan loss provisions in the first quarter of 2020, which an executive attributed to the bank’s macroeconomic outlook for the year amid the pandemic. During the bank’s virtual annual stockholders meeting Tuesday, PNB chief… Read More
BSP firm on keeping financial sector's strength amid pandemic
June 23, 2020, 4:19 pm
MANILA – The Philippines’ financial sector remains strong but Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said they remain steadfast in making sure that the economic impact of the pandemic will not affect the domestic financial system. In a virtual briefing Tuesday, Diokno said… Read More
UnionBank extends free Instapay transfers till yearend
June 23, 2020, 2:17 pm
MANILA – The Union Bank of the Philippines has extended until the end of the year its free Instapay transfers or the instant transfer between accounts of participating central bank-supervised banks and non-bank e-money issuers in the Philippines. UnionBank, which has been ranked as the second… Read More
6K BPO jobs to cut down unemployment: Bello
June 22, 2020, 10:08 pm
CITY OF ILAGAN, Isabela – At least 6,000 jobs in business process outsourcing (BPO) companies will put a “silver lining on job opportunities” amid the coronavirus disease 2019 (Covid-19) health crisis affecting the country's workforce, Labor Secretary Silvestre Bello III said. Bello told the… Read More
DTI lauds Tagbilaran salons for compliance with health protocols
June 22, 2020, 8:39 pm
CEBU CITY – At least three salons and barbershops in Tagbilaran City in Bohol have adopted alternative modes of payment for the services they rendered to customers, the Department of Trade and Industry (DTI)-Central Visayas on Monday said. In a statement, the DTI-7 said its Bohol Provincial… Read More
E-channels boost tax revenues, economic recovery
June 22, 2020, 8:35 pm
MANILA – Finance Secretary Carlos Dominguez III said the strong take-up on Bureau of Internal Revenue’s (BIR) electronic processes allows for a more efficient tax collection needed to raise revenues for government programs. In his speech during the virtual awarding ceremony for the Hack-A-Tax… Read More
Stocks end higher, peso slips on rise of coronavirus cases
June 22, 2020, 7:13 pm
MANILA – Concerns on the rise of new coronavirus disease 2019 (Covid-19) made investors buy selectively boosting local shares Monday, but the peso weakened against the US dollar. The Philippine Stock Exchange index (PSEi) rose by 0.51 percent, or 32.36 points, to 6,347.43 points. All Shares… Read More
DTI eyes luring bike makers to locate in PH
June 22, 2020, 6:51 pm
MANILA – A senior trade official said the department targets to invite bicycle manufacturers to invest in the Philippines as demand for the two-wheel vehicle is increasing amid the pandemic. Department of Trade and Industry (DTI) Undersecretary Ceferino Rodolfo told trade reporters that it is… Read More
Globe eyes cell cites in public schools
June 22, 2020, 6:50 pm
MANILA – Telecommunications giant Globe Telecom, Inc. (Globe) has agreed with Senator Sherwin “Win” Gatchalian’s suggestion to build cell towers in every public school to extend the availability of mobile services to the farthest reaches of the country. In a Laging Handa briefing recently,… Read More
Firms launch installment payment solution for online stores
June 22, 2020, 6:45 pm
MANILA – With the increasing number of entrepreneurs using online platforms amid the pandemic, Dragonpay and financial technology firm FDFC have partnered to create a joint payment solution for online merchants. FDFC, through its digital credit app BillEase, and Dragonpay launched their buy… Read More
T-bill rates rise ahead of BSP decision this week
June 22, 2020, 5:20 pm
MANILA – Rates of the Philippines’ Treasury bills (T-bills) rose Monday as investors await the latest key rate decision of the Bangko Sentral ng Pilipinas (BSP). Average rate of the benchmark 91-day paper rose to 2.068 percent, the six-month paper to 2.159 percent, and the one-year paper to… Read More
Fuel prices up again this week
June 22, 2020, 5:00 pm
MANILA – Oil firms have announced another increase in their prices starting Tuesday morning. In separate advisories, Cleanfuel, Flying V, Petro Gazz, Petron, PTT Philippines, Shell, Seaoil and Total said they will raise diesel prices by PHP0.85 per liter, and PHP1.05 increment per liter of… Read More
No plans yet to revise CARS program
June 22, 2020, 9:17 am
MANILA – The Department of Trade and Industry (DTI) has no immediate plans to revise the Comprehensive Automotive Resurgence Strategy (CARS) program despite a drop in vehicle sales amid the pandemic. DTI Undersecretary Ceferino Rodolfo told reporters he is not confident that participating car… Read More
Probe shows no Wirecard funds in PH banks: Diokno
June 21, 2020, 7:59 pm
MANILA – None of the USD2.1-billion missing funds that German payments technology firm Wirecard claimed ended in two Asian banks did not wind up in the Philippines, the Bangko Sentral ng Pilipinas (BSP) said. In a Viber message to journalists Sunday, BSP Governor Benjamin Diokno said domestic… Read More
Gradual, steady: PH keeps competitiveness momentum amid crisis
June 20, 2020, 12:59 pm
MANILA – The Philippines has kept its momentum with a slight upgrade from 46th to 45th spot in this year’s global competitiveness rankings by the International Institute for Management Development (IMD). The 2020 World Competitiveness Yearbook (WCY) by IMD also signaled an encouraging… Read More
BSP probes involvement of PH banks in alleged fraud
June 20, 2020, 11:42 am
MANILA – The Bangko Sentral ng Pilipinas (BSP) is now looking into reports of the alleged involvement of two major domestic banks on the possible fraud by a German payments company, which the two banks, in turn, have vehemently denied. “The Bangko Sentral ng Pilipinas is aware of reports about… Read More
FDIs to PH seen to recover in H2
June 19, 2020, 8:02 pm
MANILA – Foreign direct investments (FDIs) to the Philippines contracted by 18.5 percent last March because of the pandemic but a recovery is expected in the second half due to proposed tax measures and the country’s fundamentals. Data released by the Bangko Sentral ng Pilipinas (BSP) showed… Read More
