Business
Bohol eyes economic zone fronting Cebu
June 8, 2020, 9:46 pm
TAGBILARAN CITY – Bohol has to diversify its economic activity at this time of the pandemic, instead of concentrating on tourism alone, Governor Arthur Yap said on Monday. During a video conference with National Economic and Development Authority (NEDA)-Central Visayas regional director Efren… Read More
DOF chief cautions legislators vs. unsustainable stimulus program
June 8, 2020, 9:43 pm
MANILA – Department of Finance (DOF) Secretary Carlos Dominguez III has cautioned lawmakers against approving measures that the national budget cannot finance and increase the budget gap beyond acceptable level. In a speech during the Sulong Pilipinas e-conference with the business community… Read More
PH T-bill rates slip anew
June 8, 2020, 9:34 pm
MANILA – Average rates of the Philippines’ Treasury bills (T-bills) declined anew Monday as investors continue to take advantage of yields uptick of government securities. Rate of the 91-day paper went down to 2.038 percent from 2.046 percent during the auction last week. The Bureau of… Read More
PEZA to give job opportunities to repatriated OFWs
June 8, 2020, 8:37 pm
MANILA – The Philippine Economic Zone Authority (PEZA) aims to help repatriated overseas Filipino workers (OFWs) affected by the coronavirus pandemic by launching the Development Outreach for Labor, Livelihood, and Advancement of Resources, or the DOLLAR program. In a statement Monday, PEZA… Read More
Unemployment spike due to quarantine, not structural issues
June 8, 2020, 8:02 pm
MANILA – Closure of businesses during the community quarantine is the reason for the spike to record-high Philippines unemployment rate last April, thus Finance Secretary Carlos Dominguez III believes the uptick in the number of unemployed persons is temporary. Citing the recent statement of… Read More
Aboitiz hydro unit remits P20-M to host LGUs
June 8, 2020, 7:43 pm
MANILA – Hedcor, the run-of-river hydropower unit of Aboitiz Power Corp., has disbursed PHP20.1 million to local government units (LGUs) in Luzon and Mindanao where its projects are located. Under the Energy Regulations 1-94 (ER 1-94) Program of the Department of Energy (DOE), host communities… Read More
Stock market index ends higher, peso slips
June 8, 2020, 6:42 pm
MANILA – The Philippine Stock Exchange index (PSEi) rose Monday but the peso weakened ahead of the Federal Open Market Committee (FOMC) meeting on June 9-10. The main equities index increased by 0.76 percent, or 48.87 points, to 6,514.00 points. Luis Limlingan, Regina Capital Development… Read More
PCCI calls for quick passage of bills to help PH recover
June 8, 2020, 5:50 pm
MANILA – The Philippine Chamber of Commerce and Industry (PCCI) has submitted top actionable recommendations to the government, including fast enactment of bills into law, to help the country recover faster amid the health crisis. During the online Sulong Pilipinas forum on Monday, PCCI… Read More
Pump prices set to increase on June 9
June 8, 2020, 4:07 pm
MANILA – Oil firms will increase their prices starting 12:01 a.m. Tuesday. In separate advisories, Chevron (Caltex), Cleanfuel, Petro Gazz and Seaoil announced that they will hike prices of diesel by PHP1.10 per liter, and PHP1.75 per liter for gasoline. Chevron and Seaoil will also increase… Read More
OPEC, allies agree to extend oil output cuts by 1 month
June 8, 2020, 8:44 am
ANKARA – The Organization of Petroleum Exporting Countries (OPEC) and its allies on Saturday agreed to extend oil production cuts by one month. Saudi Arabia-led OPEC and Russia-spearheaded non-OPEC had agreed on April 12 to cut their total crude production by 9.7 million barrels per day (bpd)… Read More
‘Bold’ autonomy initiative in Bangsamoro Region to push through
June 7, 2020, 7:44 pm
MANILA – Finance Secretary Carlos Dominguez III has reaffirmed the national government’s commitment to fully support and implement the “historic and bold” initiative of bringing genuine autonomy to the Bangsamoro people even amid the crisis spawned by the coronavirus disease 2019… Read More
OPEC+ deal to have positive effect on energy market stabilization
June 7, 2020, 5:05 pm
MOSCOW – The OPEC+ agreements will have a positive impact on future stabilization of the global energy markets, Kremlin Spokesman Dmitry Peskov told TASS on Saturday. "These agreements will have a positive effect on future stabilization of the energy markets," he said. It was reported earlier… Read More
Rent grace period applies to areas under ECQ, MECQ, GCQ
June 7, 2020, 4:59 pm
MANILA – Department of Trade and Industry (DTI) Secretary Ramon Lopez has reiterated that the 30-day grace period in the payments for residential and commercial rents still has not changed, and still applies to micro, small, and medium enterprises (MSMEs) not permitted to operate during the… Read More
SMC, DA open more ‘Kadiwa’ stores at Petron gas stations
June 7, 2020, 2:45 pm
MANILA – San Miguel Corporation (SMC) and the Department of Agriculture have expanded the network of “Kadiwa ni Ani at Kita” rolling farmers’ stores at Petron gas stations in Metro Manila, a further boost to the agricultural industry reeling from the impact of the coronavirus disease 2019… Read More
Libya's largest oilfield to reopen soon
June 7, 2020, 2:21 pm
TRIPOLI, Libya – Libya's El-Sharara oilfield, the country's largest, will be reopened soon, the head of the Petroleum Facilities Guards said. "Work at the El-Sharara and El-Feel oilfields will be resumed soon," Ali al-Theeb told the private Libya Al-Ahrar TV late Friday. He, however, did not… Read More
Record-high unemployment rate grossly exaggerated: Diokno
June 6, 2020, 4:38 pm
MANILA – The Philippines’ 17.7 percent record-high unemployment rate last April does not reflect the true picture of the economy and the jobs market due to the impact of the global pandemic, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said. In a Viber message to reporters… Read More
Fuel support to DOTr’s free shuttle for health workers extended
June 6, 2020, 12:17 pm
MANILA – San Miguel Corporation (SMC) has extended its free fuel support to the government’s “Libreng Sakay” program past the modified enhanced community quarantine (MECQ) period, or up to June 15, bringing its total fuel donation for the benefit of medical front-liners to PHP6.2 million.… Read More
AirAsia PH introduces contactless check-in as flights resume
June 5, 2020, 7:34 pm
MANILA – AirAsia Philippines on Friday provided guests with an option to choose contactless check-in as the carrier resumed domestic services. During the Laging Handa briefing, AirAsia Philippines head of communications, David de Castro, said the carrier already mounted flights between Manila… Read More
Peso ends week at nearly 3-year high vs USD, stocks slip
June 5, 2020, 7:28 pm
MANILA – The Philippine peso ended the week to its nearly three-year high against the US dollar but the main stocks index ended its rally due to correction. The local unit finished Friday at 49.8 against the greenback, its strongest since the June 15, 2017 close of 49.63, from its 50.00 close a… Read More
NEDA to update PDP, integrate ‘new normal’
June 5, 2020, 7:18 pm
MANILA – National Economic and Development Authority (NEDA) Undersecretary Rosemarie Edillon said the agency will update the Philippine Development Plan (PDP) to address the needs of Filipinos under the “new normal”. Edillon said the public wants to see a healthy and resilient Philippines,… Read More
