Business
BSP's 7-day term facility rates decline anew
June 3, 2020, 5:15 pm
MANILA – Ample domestic liquidity remains the main reason for the strong take-up on the Bangko Sentral ng Pilipinas’ (BPS) seven-day term deposit facility (TDF) Wednesday. Data released by the central bank showed that only this tenor was offered, with the amount at PHP170 billion. This was… Read More
Consumer group vows to help guard lower medicine prices
June 3, 2020, 5:12 pm
MANILA – Laban Konsyumer Inc. (LKI) has vowed to help the government in monitoring retail prices of drugs and medicines as Executive Order 104 regulating their prices took effect Tuesday. “Laban Konsyumer will strictly monitor the full compliance of the maximum drug retail price and that… Read More
Landbank OKs P250-M loan for ‘study now, pay later’ program
June 3, 2020, 3:01 pm
MANILA – The Land Bank of the Philippines (Landbank) has approved a PHP250-million loan for an educational institution under its Access to Academic Development to Empower the Masses towards Endless Opportunities (ACADEME) lending program. During the Laging Handa public briefing aired over… Read More
PayMaya vows continued help on gov't aid distribution program
June 2, 2020, 8:43 pm
MANILA – Electronic wallet service provider PayMaya Philippines vowed its continued support to the government’s financial aid distribution done through digital means. PayMaya founder and chief executive officer (CEO) Orlando Vea said “mobile wallets like PayMaya are playing a critical role… Read More
Improving business sentiment to lift BOP position
June 2, 2020, 8:37 pm
MANILA – The Philippines posted a lower balance of payment (BOP) surplus last March at USD448 million against the previous month and the year-ago levels, but an economist forecasts better figures in the near term on improved investors’ sentiment. Rizal Commercial Banking Corporation (RCBC)… Read More
SEC-Bicol reminds biz owners on filing of annual reports
June 2, 2020, 8:19 pm
LEGAZPI CITY – The Securities and Exchange Commission (SEC) in Bicol is reminding business owners on the deadline for the filing of annual reports of corporations, particularly the annual financial statements (AFS) and general information sheet (GIS). Glorei Allelu Lindio, SEC-Bicol… Read More
BOC-Cebu collects P656-M surplus despite ECQ
June 2, 2020, 7:57 pm
CEBU CITY – Despite the two-month lull in the movement of commerce due to coronavirus disease 2019 (Covid-19), the Bureau of Customs–Port of Cebu posted a surplus collection of PHP656.26 million in the first five months of this year. Lawyer Charlito Martin Mendoza, BOC-Cebu district… Read More
DTI adjusts grace period for residential, commercial rent
June 2, 2020, 6:21 pm
MANILA – The Department of Trade and Industry (DTI) released on Tuesday Memorandum Circular (MC) No. 20-29 providing that the grant of a minimum 30-day grace period on residential and commercial rents shall commence from lifting of covered community quarantine. This changed the previous MC… Read More
Shares rise anew, peso ends sideways vs. USD
June 2, 2020, 6:02 pm
MANILA – Risk-on sentiments continued to boost local shares while the peso was little changed against the US dollar Tuesday. The Philippine Stock Exchange index (PSEi) gained 1.60 percent, or 95.00 points, to 6,025.17 points. All Shares rose 1.18 percent, or 41.50 points, to 3,551.72… Read More
RDC-7 endorses 3-point agenda to stimulate economy
June 2, 2020, 5:17 pm
TAGBILARAN CITY – The Regional Development Council (RDC) in Region 7 (Central Visayas) has endorsed the three-point economic agenda to help cushion the impact of the coronavirus disease 2019 (Covid-19) on local government units (LGUs), Bohol Governor Arthur Yap said on Monday. Yap pushed for… Read More
BTr fully awards 35-day T-bill
June 2, 2020, 4:57 pm
MANILA – The rate of the Philippine’s 35-day Treasury bill (T-bill) rose Tuesday and demand remained high. The paper’s average rate increased to 2.065 percent from 2.024 percent during the auction last May 19. The Bureau of the Treasury (BTr) offered the paper for PHP15 billion and the… Read More
DTI eyes removing purchase limit on essential goods
June 2, 2020, 3:11 pm
MANILA – As supplies and prices of essential goods stabilize, the Department of Trade and Industry (DTI) is looking into lifting the memorandum circular (MC) that sets limits in buying food and non-food products. “We have been receiving requests from manufacturers and retailers to lift the… Read More
AllHome profit doubles to P1.1-B in 2019
June 1, 2020, 9:53 pm
MANILA – AllHome Corp., a pioneering one-stop shop home store in the country, delivered a record of 105.3 percent in net income growth for 2019 to PHP1.1 billion from PHP511.4 million the previous year. Total revenues also increased by 68 percent to PHP12.1 billion from PHP7.2 billion in… Read More
BTr awards T-bills across-the-board due to high demand
June 1, 2020, 7:33 pm
MANILA – Demand for government securities continues, resulting in the doubling of the award for non-competitive bids for the Philippines’ 91-day and 364-day Treasury bill (T-bill) Monday. The average rate of the three-month paper declined to 2.046 percent, the 182-day to 2.118 percent, and… Read More
PH manufacturing PMI posts ‘softer’ decline in May
June 1, 2020, 7:27 pm
MANILA – The country’s manufacturing purchasing managers’ index (PMI) rate in May registered a “softer decline”, IHS Markit’s survey shows. Manufacturing PMI last month was at 40.1 from April’s index of 31.6. PMI readings below 50 means deterioration of the sector. “The… Read More
German firms call for resumption of EU-PH free trade talks
June 1, 2020, 6:46 pm
MANILA – German companies have called for the resumption of negotiations for European Union-Philippines Free Trade Agreement (EU-PH FTA), saying an FTA will impact their investments in the country. In a survey done by the German-Philippines Chamber of Commerce and Industry (GPCCI) and… Read More
Shares, peso start week on positive note
June 1, 2020, 6:19 pm
MANILA – Risk-on sentiments continue to buoy local shares and the peso Monday. For the fourth consecutive day, the Philippine Stock Exchange index (PSEi) gained, with the rise at 1.56 percent, or 91.33 points, to 5,930.17 points. All Shares increased by 1.52 percent, or 52.52 points, to… Read More
BSP supports proposed laws boosting banking system: Diokno
June 1, 2020, 4:53 pm
MANILA – Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno called on lawmakers’ consideration to help support the country’s banking system vis-à-vis the impact of the global pandemic. In a Viber message to journalists Monday, Diokno said “Philippine banks will play a key role in… Read More
E-commerce seen to sustain PH economy, drive growth
June 1, 2020, 4:46 pm
MANILA – Efficient and affordable e-commerce can help sustain economic activities and drive growth as the country continues to manage coronavirus disease 2019 (Covid-19) risks and transitions to the new and better normal, the National Economic and Development Authority (NEDA) said. “Online… Read More
Gasoline prices down, diesel and kerosene up on June 2
June 1, 2020, 4:40 pm
MANILA – Oil companies will implement adjustments on fuel prices starting 6 a.m. Tuesday. In separate advisories, Cleanfuel, Flying V, Petro Gazz, Phoenix Petroleum, PTT Philippines, Seaoil, and Shell will increase prices of diesel by PHP0.25 per liter and will reduce gasoline prices by PHP0.20… Read More
