Business
SEC warns public anew vs. Bitcoin Revolution
June 17, 2020, 7:34 pm
MANILA – The Securities and Exchange Commission (SEC) has warned anew against the Bitcoin Revolution, which presents itself as a cryptocurrency trading program purportedly endorsed by government officials, businessmen, and even celebrities. In an advisory dated June 16, the Commission urged the… Read More
Coronavirus impacts on renewable energy projects
June 17, 2020, 7:29 pm
MANILA – The coronavirus disease 2019 (Covid-19) has impacted ongoing and new investments in renewable energy, a founder of independent energy, climate, and sustainability professionals group said Wednesday. In a session of virtual Asia Clean Energy Forum 2020 of the Asian Development Bank,… Read More
Peso, stocks end flat
June 17, 2020, 7:02 pm
MANILA – The peso and the main equities index closed near unchanged Wednesday. The Philippine Stock Exchange index (PSEi) finished the day at 6,282.01 points, up 0.004 percent or 0.26 points. All Shares shed 0.03 percent, or 1.21 points, to 3,698.40 points. Most of the sectoral indices… Read More
BSP term facility rates sustain decline
June 17, 2020, 6:11 pm
MANILA – Rates of the Bangko Sentral ng Pilipinas’ (BSP) term deposit facility (TDF) continue to slip as demand remains high. Data released by the central bank Wednesday showed that average rate of the seven-day facility declined to 2.2505 percent from 2.2507 percent during the auction last… Read More
BIR to online biz: register to become legitimate entity
June 17, 2020, 5:00 pm
MANILA – Registering with the Bureau of Internal Revenue (BIR) will ensure that businesses are operating legally, BIR Deputy Commissioner Arnel Guballa said. In an interview during the Laging Handa PH program aired over state-owned PTV Wednesday, Guballa said small business owners need not… Read More
PRRD adviser pushes for delayed registration for online biz
June 17, 2020, 4:34 pm
MANILA – Presidential Adviser for Entrepreneurship Joey Concepcion is asking the government to delay business registration and collection of taxes from online sellers until next year. In a webinar on Wednesday, Concepcion said the increase in online sellers during the quarantine period was due… Read More
PHL, ADB ink $500-M loan to aid poor amid pandemic
June 17, 2020, 4:31 pm
MANILA – The Philippines has accessed a fresh USD500-million financing package from the Asian Development Bank (ADB) to help support the country’s immediate budgetary requirements to address the coronavirus crisis with the signing of a loan agreement for the Expanded Social Assistance Project… Read More
US economy ‘well short’ of pre-pandemic level despite reopening
June 17, 2020, 2:41 pm
WASHINGTON – The US economy may be entering a phase of bouncing back, with the easing of social distancing measures and resumption of business activities but employment and output will be "well short" of the pre-pandemic level, Federal Reserve Chairman Jerome Powell said on Tuesday. Despite the… Read More
BDO increases provisioning due to pandemic, posts lower Q1 income
June 17, 2020, 7:36 am
MANILA – The Sy-led BDO Unibank has increased its provisioning for this year in anticipation of higher credit costs vis-à-vis the impact of the pandemic on their operations. BDO president and chief executive officer Nestor V. Tan, during the bank’s virtual annual stockholders meeting on… Read More
Innovative, flexible training needed to upskill labor force: NEDA
June 16, 2020, 9:15 pm
MANILA – Following the latest results of the Philippine Statistics Authority’s (PSA) labor force survey (LFS), more innovative and flexible learning programs are needed to respond to the challenges of preserving and creating jobs amid the coronavirus disease 2019 (Covid-19) pandemic, the… Read More
Small businesses urged to register with BIR
June 16, 2020, 9:10 pm
MANILA – Small business owners are encouraged to register with the Bureau of Internal Revenue (BIR) not because the government merely wants to collect taxes but for them to be accounted for and be included in its programs for the sector. During the Laging Handa PH briefing on Tuesday, Finance… Read More
German firms in PH: Easing of quarantine helps biz
June 16, 2020, 8:49 pm
MANILA – German companies doing business in the Philippines said the coronavirus disease 2019 (Covid-19) pandemic has impacted their operations but the easing of quarantine measures both in the Philippines and in Germany will help them in the coming months. In a survey of German-Philippines… Read More
Peso, stocks end higher on US stimulus program
June 16, 2020, 8:40 pm
MANILA – News about the new stimulus program by the US government lifted sentiments and boosted both the Philippine peso and the main stocks gauge Tuesday. The local currency finished the day’s trade at 50.07 against the dollar, an improvement from its 50.345 close a day ago. It opened the… Read More
Diversification of energy resources to support resiliency
June 16, 2020, 8:18 pm
MANILA – Not overly relying on one or two specific resources will help countries to be more energy resilient, Asian Development Bank (ADB) Southeast Asia Department principal climate change specialist Toru Kubo said Tuesday. In a session during the virtual Asia Clean Energy Forum (ACEF) 2020,… Read More
PEZA registers P29.5-B investments in Jan-May
June 16, 2020, 7:03 pm
MANILA – The Philippine Economic Zone Authority (PEZA) registered PHP29.5 billion worth of projects in the first five months of the year despite the coronavirus pandemic. In an online press conference on Tuesday, PEZA Director General Charito Plaza said investment approvals from January to May… Read More
BBB, agri to boost PH economy in 2020: DOF chief
June 16, 2020, 6:57 pm
MANILA – The government’s infrastructure program and the agriculture sector will be among the main growth drivers of the Philippine economy this year despite the impact of the coronavirus disease 2019 (Covid-19) pandemic. In a virtual briefing, after the signing on Tuesday of two big-ticket… Read More
Include clean energy investments in Covid recovery package: IEA
June 16, 2020, 6:35 pm
MANILA – The International Energy Agency (IEA) has urged governments around the world to promote investments in clean energy in their post-pandemic stimulus policies for economic recovery. During the opening plenary of the virtual Asia Clean Energy Forum (ACEF) 2020 of the Asian Development… Read More
35-day T-bill rate rises
June 16, 2020, 5:49 pm
MANILA – The average rate of the Philippines’ 35-day Treasury bill (T-bill) increased Tuesday but demand remained strong. The rate of the debt paper rose to 2.101 percent from 2.065 percent during the auction last June 2. “Banks want to be within inflation,” National Treasurer Rosalia de… Read More
2019 electric car sales up 40% amid poor overall sales
June 16, 2020, 1:27 pm
ANKARA – Global sales of electric cars registered a 40-percent year-on-year increase in 2019 although overall, the car market contracted by 15 percent, according to the International Energy Agency's (IEA) Global EV Outlook 2020 report on Monday. Sales of electric cars worldwide, which accounted… Read More
BSP investigating DOSRI violation of a big bank: Diokno
June 15, 2020, 9:48 pm
MANILA – Monetary authorities are now investigating allegations of illegally approved multi-billion loans by officials of a universal bank, said Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno on Monday. In a Viber message to journalists, Diokno did not identify the financial… Read More
