Business
Anti-Terrorism Bill to prevent PH re-inclusion in ‘gray list’
June 15, 2020, 9:42 pm
MANILA – Amendments on the Philippines Human Security Act (HSA), which have been incorporated in the Anti-Terrorism Bill (ATB), are necessary to address gaps in the country’s anti-money laundering and counter terrorism financing (AML/CTF) system. These gaps were determined by a team from the… Read More
DTI opens 17th Negosyo Center in Bulacan
June 15, 2020, 7:12 pm
CITY OF MALOLOS, Bulacan – The Department of Trade and Industry (DTI) Bulacan Provincial Office continues to assist micro, small and medium enterprises (MSMEs) throughout the province with the establishment of more Negosyo Centers. Mary Grace Sta-Ana Reyes, DTI Bulacan information officer, on… Read More
Stocks, peso start week down on Covid-19 second wave worries
June 15, 2020, 5:38 pm
MANILA – Both the local main stocks index and the peso ended weaker on Monday, partially on news of a spike in the number of coronavirus disease 2019 (Covid-19) in several countries. The Philippine Stock Exchange index (PSEi) declined by 4.82 percent, or 312.42 points, to 6,163.82 points. The… Read More
PH T-bill rates post mix results amid strong demand
June 15, 2020, 5:05 pm
MANILA – Rates of the Philippines’ Treasury bills (T-bills) posted mixed results Monday but demand remained strong. The average rate of the 91-day paper declined to 2.035 percent and the 364-day to 2.350 percent, but the rate of the 182-day rose to 2.101 percent. These were at 2.038 percent… Read More
May auto sales recover as quarantine measures eased
June 15, 2020, 4:45 pm
MANILA – The Chamber of Automotive Manufacturers of the Philippines, Inc. (Campi) and Truck Manufacturers Association (TMA) reported Monday that vehicle sales in May 2020 recovered as the enhanced community quarantine (ECQ) was lifted in some parts of the country. In the joint report of Campi… Read More
Oil prices to go up anew on June 16
June 15, 2020, 3:16 pm
MANILA – Oil prices will increase starting Tuesday morning. In separate advisories, Cleanfuel, Petro Gazz, Seaoil, Shell, and Total will hike diesel prices by PHP1.10 per liter, and gasoline prices by PHP1.25 per liter. Seaoil and Shell will also increase PHP0.75 per liter on prices of… Read More
MerryMart debut signals strong trust in quick economic recovery
June 15, 2020, 2:29 pm
MANILA – Finance Secretary Carlos Dominguez III said Monday the initial public offering (IPO) and stock market listing of grocery retailer MerryMart Consumer Corp. amid the coronavirus pandemic illustrates strong trust and confidence in an early and strong recovery of the Philippine economy from… Read More
Release of small business workers' subsidies nearing completion
June 14, 2020, 7:00 pm
MANILA – Payouts are at more than 97-percent completion for both tranches of the two-month Small Business Wage Subsidy (SBWS) program for workers of small businesses affected by the coronavirus pandemic, according to a ranking official of the Department of Finance (DOF). DOF Assistant Secretary… Read More
DTI supports legislation to boost e-commerce law in PH
June 14, 2020, 5:36 pm
MANILA – The Department of Trade and Industry (DTI), in commemoration of the 20th year of Republic Act 8792 or the Electronic Commerce Act of 2000, has committed to implement policies to strengthen and grow e-commerce in the country while supporting current legislative measures by… Read More
Pangasinan BIR district offices open June 13 for tax filing
June 12, 2020, 7:02 pm
CALASIAO, Pangasinan – The Bureau of Internal Revenue (BIR) district office here and in other towns and cities in the province, will be open on Saturday to allow taxpayers to settle their income tax returns (ITR) and other levies before the June 15 deadline. In an interview Thursday afternoon,… Read More
PH seen to still post BOP surplus in '20 despite pandemic
June 11, 2020, 10:13 pm
MANILA – Philippine monetary officials continue to see a surplus in the country’s balance of payment (BOP) position this 2020 despite the economic impact of the coronavirus disease 2019 (Covid-19) pandemic. In a Viber message to journalists Thursday, Bangko Sentral ng Pilipinas (BSP) Governor… Read More
DOF warns public vs. cryptocurrency
June 11, 2020, 10:08 pm
MANILA – The Department of Finance (DOF) has warned the public against believing information saying that DOF Secretary Carlos Dominguez III is promoting a cryptocurrency auto-trading program called Bitcoin Revolution. In a statement Thursday, the department said DOF employees have also seen… Read More
Landbank releases P40.6-B to UCT beneficiaries
June 11, 2020, 9:50 pm
MANILA – The Land Bank of the Philippines (Landbank) has released a total of PHP40.61 billion in unconditional cash transfers (UCTs) as of March this year to beneficiary-households of the Duterte administration's social mitigation program under the Tax Reform for Acceleration and Inclusion Act… Read More
PH stocks recover, peso slips vs. USD
June 11, 2020, 8:18 pm
MANILA – The local stock barometer recovered Thursday given risk-on sentiment, but the peso weakened. The Philippine Stock Exchange index (PSEi) rose 0.57 percent, or 36.87 points, to 6,476.24 points. All Shares followed with a jump of 0.35 percent, or 13.06 points, to 3,799.16 points. It… Read More
NegOcc biz group offers free advisory services to MSMEs, coops
June 11, 2020, 8:17 pm
BACOLOD CITY – The Metro Bacolod Chamber of Commerce and Industry (MBCCI) is giving free management and financial advisory services to micro, small and medium enterprises (MSMEs), cooperatives, and rural banks affected by the economic slowdown amid the coronavirus disease (Covid-19) crisis.… Read More
Security Bank assures clients of services on holiday
June 11, 2020, 8:12 pm
MANILA – Security Bank Corporation (Security Bank) has assured its clients of continued assistance even as all its branches will be closed in observance of Independence Day, a holiday, on Friday. “For assistance during this period, you may call our Customer Service hotline at (02) 8887-9188… Read More
IPOPHL backs e-Commerce bill
June 11, 2020, 8:08 pm
MANILA – The Intellectual Property Office of the Philippines (IPOPHL) has expressed support for House of Representatives Bill 6122 or the e-Commerce bill as it would help the agency perform its mandate to protect intellectual property rights. “Pursuant to the IPOPHL’s mandate to administer… Read More
Japan Credit Rating Agency lifts PH rating to A-level
June 11, 2020, 8:04 pm
MANILA – Japan Credit Rating Agency (JCRA) on Thursday upgraded its rating on the Philippines from BBB+ to A- with a stable outlook, as it believes that the country can weather the impact of coronavirus disease (Covid-19) pandemic. From an expected contraction this year, it forecasts growth to… Read More
Covid-proofing investments in tourism now qualified for tax perks
June 11, 2020, 6:12 pm
MANILA – The Board of Investments (BOI) will provide incentives to tourism projects involving upgrading and modernizing facilities that will ensure implementation of new health standards amid the ‘new normal’ due to the pandemic. In a statement Thursday, the BOI said the investment… Read More
SMC toll roads go cashless to help contain Covid-19 spread
June 11, 2020, 5:04 pm
MANILA – The San Miguel Corp. (SMC) will soon go cashless on all toll roads it operates, as it continues to find ways to help curb the spread of the coronavirus disease 2019 (Covid-19). In a statement on Thursday, SMC president and chief operating officer Ramon Ang said SMC Tollways would offer… Read More
