Business
Filipina-led MSMEs get help for digital transformation
June 11, 2020, 4:58 pm
MANILA – The Connected Women and European Union-United Nations Women have partnered to help Filipina entrepreneurs tap digital technology amid the new business environment due to the coronavirus disease 2019 (Covid-19) pandemic. Through the WE Empower Asia program, the Connected Women, and… Read More
SBMA extends suspension of business fines, fees
June 11, 2020, 3:09 pm
SUBIC BAY FREEPORT – To help business locators and residents cope with the economic crisis brought about by coronavirus disease 2019 (Covid-19) pandemic, the Subic Bay Metropolitan Authority (SBMA) has suspended anew the collection of penalties and fees until June 30. SBMA chairman and… Read More
Korean Air cancels Incheon-Manila flights June 11 to July 31
June 10, 2020, 7:02 pm
MANILA -- Korean Air (KE), South Korea's flag carrier, on Wednesday announced the cancellation of its Incheon to Manila flights from June 11 to July 31, except on June 21. In an advisory posted on its social media account, KE said Manila-bound flights KE623 from June 11-24 (operational on June… Read More
Beverage firm provides water access to over 2K families
June 10, 2020, 6:59 pm
MANILA – Beverage firm Coca-Cola Philippines has rechanneled a part of its PHP150-million advertisement fund to provide water access to more than 2,000 low-income families in Cavite province amid the coronavirus disease 2019 (Covid-19) pandemic. As frequent hand washing can help in fighting… Read More
BSP term deposit facilities' rates decline anew
June 10, 2020, 6:46 pm
MANILA – Strong demand continues to drive the auction for the Bangko Sentral ng Pilipinas’ (BSP) term deposit facilities (TDF) Wednesday, which also saw the re-offering of the 14-day facility. Data released by the central bank showed that rate of the seven-day facility’s averaged at 2.2507… Read More
Peso rises vs. USD, stocks slip ahead of Fed decision
June 10, 2020, 5:56 pm
MANILA – The Philippine peso strengthened against the US dollar on Wednesday while the main stocks gauge slipped after a two-day rally, partly due to anticipations on the results of the Federal Open Market Committee (FOMC) meeting later in the day. The local currency finished the day’s trade… Read More
‘Travel bubble’ more likely in near term
June 10, 2020, 5:41 pm
MANILA – Many countries have closed their borders to foreign travelers due to the coronavirus disease 2019 (Covid-19) pandemic and now takes toll on the tourism industry. According to the latest bulletin of Asia-Pacific Economic Cooperation (APEC) released on Tuesday, the Covid-19 pandemic would… Read More
IMF chief urges countries to guard vs. retreat from globalization
June 10, 2020, 2:03 pm
WASHINGTON – International Monetary Fund (IMF) Managing Director Kristalina Georgieva on Tuesday urged countries to recognize the importance of global trade amid the coronavirus disease 2019 (Covid-19) pandemic and guard against a "dramatic retreat" from globalization. Noting that inequality… Read More
Oil regains from 5% fall after Saudis end voluntary cut
June 10, 2020, 1:40 pm
ANKARA – Crude oil prices were up on Tuesday and recovering from more than a 5-percent decline from the previous trading session when Saudi Arabia announced it would end its voluntary crude production cut this month. International benchmark plummeted 5.8 percent to close Monday at USD40.80 per… Read More
Airline industry may lose over $84-B in 2020
June 10, 2020, 1:13 pm
GENEVA – The International Air Transport Association (IATA) on Tuesday said its financial outlook for the global air transport industry shows that airlines are expected to lose USD84.3 billion in 2020 for a net profit margin of -20.1 percent. “Financially, 2020 will go down as the worst year… Read More
DTI cites Cebu malls’ compliance with health, safety standards
June 9, 2020, 8:32 pm
CEBU CITY – The Department of Trade and Industry in Central Visayas (DTI-7) on Tuesday assured that all the malls that have resumed operations in Cebu have complied with the minimum safety and health standards under the general community quarantine (GCQ). Assistant Secretary Asteria Caberte,… Read More
BSP re-offers term deposits, reverse repurchase facilities
June 9, 2020, 8:14 pm
MANILA – The Bangko Sentral ng Pilipinas (BSP) will re-offer the 14-day term deposit facility (TDF) and the reverse repurchase (RRP) facility starting Wednesday (June 10) as domestic liquidity continues to stabilize. Offering of these facilities were temporarily stopped when Malacanang… Read More
PH 3-year T-bond rate declines anew
June 9, 2020, 7:21 pm
MANILA – The rate of the Philippines’ three-year Treasury bond (T-bond) declined Tuesday due to strong demand for the debt paper. The average rate of the paper that has a remaining life of two years and 10 months slipped to 2.558 percent from 2.946 percent during the auction last May… Read More
PAL cancels 8 international flights set for June 10-12
June 9, 2020, 6:54 pm
MANILA -- Flag carrier Philippine Airlines (PAL) on Tuesday announced the cancelation of eight international flights originally scheduled for June 10-12, as the carrier was not given the arrival slots at the Ninoy Aquino International Airport (NAIA). In an advisory, PAL said authorities were not… Read More
Stocks rise on easing lockdown measures, peso ends sideways
June 9, 2020, 6:54 pm
MANILA – Optimism on the continued reopening of economies around the world after weeks of quarantine to prevent the large-scale rise of coronavirus disease 2019 (Covid-19) cases boosted Philippine shares Tuesday while the peso ended sideways against the greenback. The Philippine Stock Exchange… Read More
DTI chief reiterates strict implementation of health protocols
June 9, 2020, 6:35 pm
MANILA – Department of Trade and Industry (DTI) Secretary Ramon Lopez has reiterated his call for business establishments to strictly implement the minimum health protocols as more sectors are now allowed to open as quarantine measures ease. In a Palace briefing Tuesday, Lopez said even if… Read More
WB sees PH economy to shrink 1.9% in 2020, recover in next 2 yrs
June 9, 2020, 4:55 pm
MANILA – Hammered by natural disasters and the coronavirus disease 2019 (Covid-19) pandemic, the Philippine economy is projected to contract by 1.9 percent in 2020. But there are good chances that the country can bounce back in the next two years, according to the World Bank’s latest… Read More
Gyms, travel, leisure businesses open at 50% capacity in MGCQ
June 9, 2020, 4:49 pm
MANILA – As the government is expected to further ease community quarantine measures next week, it is allowing more business establishments, including fitness and sports - as well as travel and leisure industries, to open in areas under modified general community quarantine (MGCQ). In a Palace… Read More
SEC offers company registration, monitoring services online
June 9, 2020, 4:07 pm
MANILA – The Securities and Exchange Commission (SEC) will continue offering its company registration and monitoring services online to protect and promote public health amid the coronavirus disease 2019 (Covid-19) pandemic. Aside from applications for company registration, SEC now accepts… Read More
World Bank projects global economy to shrink by 5.2% in 2020
June 9, 2020, 1:10 pm
WASHINGTON – The global economy is on track to shrink by 5.2 percent this year amid the coronavirus disease 2019 (Covid-19) pandemic, the deepest recession since the Second World War, the World Bank Group said in its latest Global Economic Prospects released Monday. Economic activity in advanced… Read More
