Business
PH peso improves vs. USD, stocks index down on Covid-19 worries
June 19, 2020, 7:49 pm
MANILA – The Philippine peso ended the week better against the US dollar but the main stocks index ended in the red due to concerns on the coronavirus disease 2019 (Covid-19) and geopolitical tensions. The local currency finished the week at 50.06 from its 50.17 close Thursday. It opened the… Read More
Imported meat helped in relief response amid pandemic: PAMPI
June 19, 2020, 6:49 pm
MANILA – The Philippine Association of Meat Processors, Inc. (PAMPI) said imported meat products helped the country continue the manufacturing of processed meat, ensuring sufficient food supply amid the coronavirus disease 2019 (Covid-19) pandemic. In a letter to Department of Agriculture (DA)… Read More
Toyota donates 30 cars for health workers mobility
June 19, 2020, 6:39 pm
MANILA – Toyota Motors Philippines Corp. (TMP), through the Department of Health (DOH), is donating 30 units of Toyota Vios to public hospitals that will be used for the mobility of health workers. In a statement Friday, TMP and DOH signed a Memorandum of Agreement for the carmaker’s donation… Read More
PH must speed up reforms to sustain competitiveness: DTI chief
June 19, 2020, 4:58 pm
MANILA – Trade Secretary Ramon Lopez said the country should fast track reforms and implement policies that will sustain its competitiveness amid the coronavirus disease 2019 (Covid-19) pandemic. The Institute for Management Development (IMD) reported early this week that the Philippines… Read More
PH banking system still strong amid challenges: Diokno
June 19, 2020, 2:46 pm
MANILA – The country's banking sector remains robust despite the challenges posed by recent news about the alleged anomalies in a loan extended by a major bank, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said Friday. In a Viber message, Diokno reiterated that monetary officials… Read More
Filipinos urged to increase investments in gov’t securities
June 18, 2020, 9:43 pm
MANILA – Finance Secretary Carlos Dominguez III has urged Filipinos to continue investing in government securities not only to benefit from the yields, but also help in the country’s program to lift the economy. In his speech during the consolidated draw for the first and second quarter of… Read More
Bank bad loans remain low despite pandemic
June 18, 2020, 9:37 pm
MANILA – The level of soured loans continues to remain manageable despite the economic disruption as a result of the community quarantine put in place to fight the rise of coronavirus disease 2019 (Covid-19) infections. In a virtual press briefing Thursday, Bangko Sentral ng Pilipinas (BSP)… Read More
Gov’t keeps debt-to-GDP ratio within 50%
June 18, 2020, 9:26 pm
MANILA – The Philippine government will ensure the share of government debt-to-total output will not exceed 50 percent, Department of Finance (DOF) Assistant Secretary Jose Antonio Lambino II said Thursday. During a Palace briefing, Lambino said the debt-to-gross domestic product (GPD) ratio of… Read More
D&L Industries sees gradual recovery as restrictions ease
June 18, 2020, 8:31 pm
MANILA – D&L Industries, a manufacturer of specialty food ingredients, plastics, and oleochemicals, expects increased demand for its products starting this month as restrictions due to the pandemic gradually ease in the country, while its export business remains resilient. In a statement… Read More
Stocks rise, peso weaken on pandemic concerns
June 18, 2020, 8:03 pm
MANILA – The Philippine Stock Exchange index (PSEi) gained Thursday but the peso weakened as investors weighed current developments on the pandemic. The main equities index rose 1.06 percent, or 66.44 points, to 6,348.45 points. All Shares also posted an uptick and ended the day at 3,714.29… Read More
DOST to provide eggs, ducklings, chickens to 6 regions
June 18, 2020, 7:29 pm
MANILA -- The Department of Science and Technology (DOST) would be providing eggs, ducklings and chickens to six regions, to help augment food security and livelihood amid the pandemic, the agency announced on Thursday. In a virtual presser, DOST officials said the "Manok at Itlog sa Pamayanan"… Read More
DA eyes to tap poultry dressing plant to boost meat exports
June 18, 2020, 7:22 pm
MANILA – The Department of Agriculture (DA) is banking on the “AAA” poultry dressing plant in Tarlac to boost meat exports from the country. During the Inter-Agency Task Force (IATF)-Task Group on Food Security virtual presser on Thursday, Bureau of Animal Industry (BAI) director Ronnie… Read More
Projected remittance contraction to hit PH ’20 GDP by 0.4%
June 18, 2020, 7:14 pm
MANILA – The Philippine economy is expected to weaken by 0.4 percent this 2020 amid the expected 5-percent contraction in remittances due to the pandemic, but a 4-percent rebound is expected in 2021. In a virtual briefing Thursday, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said… Read More
Policymakers urged to sustain low pollution levels
June 18, 2020, 6:55 pm
MANILA – Lockdowns around the world due to the coronavirus disease 2019 (Covid-19) have suspended transportation and factories, reducing pollution levels. With the economic slowdown during the Covid-19 pandemic, the International Energy Agency (IEA) projected that 2.6 billion metric tons of… Read More
APEC urges ‘‘greener new normal’, adoption of circular economy
June 18, 2020, 6:51 pm
JAKARTA -- Plans for recovery from the coronavirus disease 2019 (Covid-19) pandemic must not only help improve public healthcare, but also build environmental sustainability, an APEC Policy Support Unit researcher said, urging member nations to work towards a "greener new normal”. Researcher… Read More
Facilitate trade, investments amid pandemic: APEC
June 18, 2020, 4:48 pm
MANILA – A senior official of the Committee of Trade and Investment (CTI) of the Asia-Pacific Economic Cooperation (APEC) has urged the 21 member economies to facilitate the flow of trade in goods and services as well as investments amid the ongoing global health crisis. “Together with taking… Read More
Developing Asia to grow 0.1% in 2020: ADB
June 18, 2020, 2:47 pm
MANILA – Developing Asia will grow barely in 2020 as containment measures to address the coronavirus disease 2019 (Covid-19) pandemic hamper economic activity and weaken external demand, according to a new set of forecasts from the Asian Development Bank (ADB). In a regular supplement to its… Read More
Retooling people benefited UnionBank during ECQ: exec
June 17, 2020, 8:54 pm
MANILA – Investing on technology and upgrading employees’ skills provided Union Bank Philippines (UnionBank) the flexibility to continue to operate even with fewer number of people during the enhanced community quarantine (ECQ), its official said. In a virtual briefing Wednesday, UnionBank… Read More
PMAP asks DOLE for clear rules on temporary wage cuts
June 17, 2020, 8:47 pm
MANILA – The People Management Association of the Philippines (PMAP) is asking the Department of Labor and Employment (DOLE) to issue clearer rules on negotiating temporary wage reductions with employees amid the coronavirus pandemic. In a webinar Wednesday, PMAP executive director Rene Gener… Read More
PH committed to Universal Health Care implementation: DOF chief
June 17, 2020, 8:42 pm
MANILA – Authorities are in talks on how to address Philippine Health Insurance Corporation (PhilHealth) financing woes and its impact on the Universal Health Care (UHC) Act. In a Viber message to journalists Wednesday, Finance Secretary Carlos Dominguez said officials of the Department of… Read More
