Business
DTI issues guidelines for dine-in fast food chains, restaurants
June 1, 2020, 2:27 pm
MANILA – In preparation to reopen dine-in services in fast food chains and restaurants, the Department of Trade and Industry (DTI) has issued new guidelines for these establishments on top of the minimum health protocols earlier released by the department. In the guidelines released by DTI… Read More
PSE to reopen trading floor on June 1
May 31, 2020, 7:26 pm
MANILA – The Philippine Stock Exchange, Inc. (PSE) will reopen its trading floor on Monday with the easing of Metro Manila’s quarantine regime from modified enhanced community quarantine to general community quarantine. The floor, which serves as the trading hub of more than 60 percent of… Read More
Pandemic to hit poorest economies harder: WFP
May 31, 2020, 6:11 pm
ROME – As the world continues to grapple with the coronavirus disease 2019 (Covid-19) outbreak, millions in the poorest countries have become more vulnerable to the economic downturn and food insecurity, UN experts warn. The World Food Program (WFP) said the economic outlook — and risks of… Read More
S&P affirms PH's 'BBB+' rating, stable outlook
May 31, 2020, 11:16 am
MANILA – S&P Global Ratings has affirmed its ‘BBB+’ investment rating with a stable outlook on the Philippines as it forecasts a strong bounce back with a growth of 9 percent for the domestic economy in 2021 from a projected 0.2-percent contraction this year. “Although the economic… Read More
DTI to give financial aid to Covid-hit Zambo MSMEs
May 30, 2020, 7:38 pm
ZAMBOANGA CITY – The Department of Trade and Industry's (DTI) Small Business Corporation (SB Corp) is providing financial assistance to 93 local micro, small, and medium enterprises (MSMEs) here affected by the coronavirus disease 2019 (Covid-19) pandemic.Grace Aduca, DTI provincial director,… Read More
UnionBank eyes May inflation rate at 2.4%
May 30, 2020, 11:41 am
MANILA – Union Bank of the Philippines’ (UnionBank) Economic Research Unit forecasts May 2020 inflation to post a faster rate of 2.4 percent from last April’s 2.2 percent due to upticks in rice and oil prices. In a report, UnionBank chief economist Ruben Carlo Asuncion said the price of oil… Read More
Local carriers to resume commercial flights June 1
May 29, 2020, 7:49 pm
MANILA -- After two months of temporarily halting international and domestic operations, local carriers Philippine Airlines (PAL) and AirAsia Philippines on Friday announced resumption of flight operations on June 1. This comes after President Rodrigo Duterte eases lockdown, putting the National… Read More
Provide transpo solution for employees: DTI chief to firms
May 29, 2020, 7:09 pm
MANILA – Trade Secretary Ramon Lopez has urged companies to provide shuttle services for their employees as more workers are expected to report to their workplace due to the easing of quarantine restrictions starting June 1. In an interview with CNN Philippines on Friday, Lopez said… Read More
DTI studying opening of salons, dine-in restos under GCQ
May 29, 2020, 5:43 pm
MANILA – Department of Trade and Industry (DTI) Secretary Ramon Lopez said the government is looking into allowing the operation of barber shops and salons as well as dine-in services in fast food chains and restaurants under general community quarantine (GCQ). “We are finding ways to… Read More
PH shares, peso ends week up
May 29, 2020, 5:04 pm
MANILA – Both the Philippines’ main equities index and the peso ended the week on a positive note on investors’ optimism on continued easing of quarantine levels in the country, especially in Metro Manila. The Philippine Stock Exchange index (PSEi) gained 4.82 percent, or 268.62 points, to… Read More
BSP forecasts May '20 inflation rate between 1.9-2.7%
May 29, 2020, 3:09 pm
MANILA – Higher domestic oil prices and uptick in the price of several agricultural products due to Typhoon "Ambo" (Vongfong) are seen to affect the Philippines' May 2020 inflation rate, which is projected to range between 1.9-2.7 percent. In a Viber message to journalists Friday, Bangko… Read More
Diokno vows gradual easing of Covid-19 measures
May 29, 2020, 12:50 pm
MANILA – The easing of measures targeted to address the impact of the coronavirus disease 2019 (Covid-19) will be done in a “gradual, prudent, and informed manner”, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said on Thursday. In his speech during the webinar jointly hosted by… Read More
Investment management firm sees 2.5% contraction for PH economy
May 28, 2020, 10:13 pm
MANILA – Sun Life Asset Management Company Inc. (SLAMCI) forecasts as much as 2.5-percent contraction for the Philippine economy this 2020 but a recovery should be underway amid the economic impact of the global pandemic. In a virtual economic briefing Thursday, SLAMCI chief investment officer… Read More
Vista Land nets P11.6B in 2019
May 28, 2020, 9:55 pm
MANILA – Vista Land & Lifescapes, Inc., one of the country’s leading integrated property developers, generated a net income of PHP11.6 billion in 2019, up by 10 percent from PHP10.5 billion the previous year, driven by the strong performance of its commercial assets and sustained contribution… Read More
Diokno still optimistic on FDIs to PH despite pandemic
May 28, 2020, 9:13 pm
MANILA – The global pandemic is expected to hit the Philippines’ foreign direct investments (FDIs) but the country stands to benefit from redirection or redistribution of FDI flows, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said. In a statement Thursday, Diokno said FDI will… Read More
Gov’t won’t seek supplemental budget for Covid-19: DBM chief
May 28, 2020, 8:45 pm
MANILA – The government will not ask Congress for a supplemental budget for coronavirus disease (Covid-19) response due to lack of additional revenues. During the virtual Malacanang Palace briefing Thursday, Budget and Management Secretary Wendel Avisado said there are still lots of… Read More
Congress urged to pass CREATE bill before recess
May 28, 2020, 8:10 pm
MANILA – Philippine Chamber of Commerce and Industry (PCCI) president Benedicto Yujuico has called on Congress to pass the Corporate Recovery and Tax Incentives for Enterprises (CREATE) bill before sessions go on recess next week. In a virtual forum of the Financial Executives Institute of the… Read More
Gov’t cites infra projects for completion in 2020, 2021
May 28, 2020, 8:05 pm
MANILA – Presidential Adviser for Flagship Programs and Projects Vivencio Dizon said the government would deliver infrastructure projects under the “Build, Build, Build” program, which are targeted for completion in 2020 and 2021 despite the coronavirus disease 2019 (Covid-19)… Read More
APEC responds to health and economic crises, pushes for recovery
May 28, 2020, 7:22 pm
JAKARTA – Asia-Pacific Economic Cooperation’s (APEC) member economies will advance work to fast-track the revitalization of the region’s economy, as mandated in the joint statement on the coronavirus disease 2019 (Covid-19) issued by the APEC Ministers Responsible for Trade. Senior… Read More
Stocks, peso remain afloat despite anxieties
May 28, 2020, 6:22 pm
MANILA – Risk-on sentiments continued to buoy both the local main equities index and the peso Thursday. The Philippine Stock Exchange index (PSEi) rose for the second consecutive day and ended the trade at 5,570.22 points, up 0.84 percent or 46.44 points. All Shares followed with a jump of… Read More
