Business
APEC growth seen to contract by 2.7% amid pandemic
May 28, 2020, 5:19 pm
MANILA – The impact of the coronavirus disease 2019 (Covid-19) pandemic is seen to drag the economy of the 21 members of the Asia-Pacific Economic Cooperation (APEC), according to the May 2020 APEC Regional Trade Analysis. The report of the APEC Policy Support Unit said the region’s gross… Read More
Passage of CREATE bill by June to immediately benefit biz sector
May 28, 2020, 4:51 pm
MANILA – Passage of the proposed Corporate Recovery and Tax Incentives for Enterprises Act (CREATE) bill until the Senate’s session on June 3 will allow this to benefit the business sector starting July 1, 2020. During the Laging Handa public briefing Thursday aired over state-owned PTV-4,… Read More
Emperador Inc. posts revenues of P51.6B in 2019
May 27, 2020, 9:37 pm
MANILA – Emperador Inc., the world’s largest brandy company, registered revenues of PHP51.6 billion in 2019, up 10 percent compared to the previous year. Recurring net profit to the parent company also went up by 5 percent to PHP7 billion. In a statement Wednesday, Emperador Inc. president… Read More
Substantial, targeted spending to lift economy, address deficit
May 27, 2020, 8:55 pm
MANILA – Substantial and targeted spending are expected to help in the Philippine economy’s recovery and address the increase in budget deficit, an economist said. In a report, ING Bank Manila senior economist Nicholas Mapa said these can also translate to a faster pickup in the gross… Read More
BTr fully awards 5-year T-bond, issues June '20 offering
May 27, 2020, 6:40 pm
MANILA – Average rate of the Philippines’ five-year Treasury bond (T-bond) declined Wednesday, as demand for government securities remains high. Rate of the debt paper, which has a remaining life of four years and four months, declined to 2.676 percent from 4.018 percent that the same tenor… Read More
Truck body assembler makes ‘anti-Covid divider’ for PUVs
May 27, 2020, 6:34 pm
MANILA – Centro Manufacturing Corp., a truck body builder, is now producing dividers for public utility vehicles (PUVs) to help prevent the spread of the coronavirus disease 2019 (Covid-19) in public transportation. In a statement Wednesday, Centro said interested PUV drivers and operators can… Read More
Shares recover, peso weakens
May 27, 2020, 6:02 pm
MANILA – Local shares were mostly up Wednesday on news of more drugs against the coronavirus disease 2019 (Covid-19) being developed, but the peso weakened against the US dollar. After a two-day decline, the Philippine Stock Exchange index (PSEi) rose by 0.49 percent, or 26.95 points, to… Read More
Diokno: pandemic’s impact on OFW remittances temporary
May 27, 2020, 5:13 pm
MANILA – Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno remains optimistic about the growth of remittances this year despite the repatriation of overseas Filipino workers (OFWs) due to the pandemic. In a virtual roundtable at Lido Wednesday, Diokno said the slower inflows of… Read More
PH now making 25M face masks a month
May 27, 2020, 4:08 pm
MANILA – The Philippines has ramped up its capacity to locally produce face masks amid the coronavirus disease 2019 (Covid-19) pandemic, a trade official said. “In fact, our local supply now reaches 25 million, from about 7 million to 8 million combined capacity of MedTecs and Yokoisada,”… Read More
BSP's 7-day term facility rate declines anew
May 27, 2020, 2:47 pm
MANILA – The average rate of the Bangko Sentral ng Pilipinas’ (BSP) seven-day term deposit facility (TDF) continued to slide, data from the central bank showed. The rate of the TDF slipped to 2.2516 percent this week from 2.2543 percent during the auction last May 20. BSP Deputy Governor… Read More
CREATE bill to attract more investments, save and create jobs
May 26, 2020, 10:02 pm
MANILA – The proposed Corporate Recovery and Tax Incentives for Enterprises Act (CREATE) will not put to waste incentives being extended to businesses unlike in the past, thus a win-win situation for both the businesses and the government. This was stressed by Finance Secretary Carlos Dominguez… Read More
NEDA chief pushes for digital transformation under ‘new normal’
May 26, 2020, 8:30 pm
MANILA – Digital transformation should be one of the structural reforms that the government should push for under the “new normal” amid the coronavirus disease 2019 (Covid-19) pandemic, acting Socioeconomic Planning Secretary Karl Kendrick Chua said Tuesday. Chua, also acting National… Read More
Peso ends higher, stocks decline
May 26, 2020, 7:40 pm
MANILA – The Philippine peso improved against the US dollar Tuesday but the main equities index declined on anxieties regarding the scheduled end of the modified enhanced community quarantine (MECQ) in Metro Manila on May 31. Aside from the wait-and-see stance on the decision on the MECQ in… Read More
Holcim restarts Luzon, Davao operations after quarantine
May 26, 2020, 7:36 pm
MANILA – Leading cement manufacturer Holcim Philippines, Inc. has restarted manufacturing and logistics operations with stronger health and safety controls in all its sites nationwide after pausing cement production in compliance with government quarantine measures against coronavirus disease… Read More
55 firms making Covid-related products keen on investing in PH
May 26, 2020, 7:31 pm
MANILA – Trade Secretary Ramon Lopez said 55 companies manufacturing products to fight the coronavirus disease 2019 (Covid-19) outbreak have expressed interests to invest in the Philippines. During the virtual general membership meeting of the Philippine Chamber of Commerce and Industry (PCCI)… Read More
Sara seeks incentives for firms supporting anti-Covid measures
May 26, 2020, 6:48 pm
DAVAO CITY – Mayor Sara Z. Duterte has asked the City Council to approve a measure that seeks to grant incentives and relief to business establishments supporting the city government's response to the coronavirus disease 2019 (Covid-19) pandemic.In an interview on Tuesday, Mayor Sara said her… Read More
ADB OKs $400-M loan to support PH capital market dev’t
May 26, 2020, 6:23 pm
MANILA – The Asian Development Bank (ADB) has approved a USD400-million policy-based loan to support the Philippine government’s efforts to strengthen domestic capital markets and reach its development goals of high, sustained economic growth, and poverty reduction. “By developing domestic… Read More
Not too late to stockpile on oil: economist
May 26, 2020, 5:10 pm
MANILA – Even with the improvement in crude oil prices in the world market, an economist said it is not too late to stockpile oil to prepare for the recovery of the economy. “It’s a good move to stockpile because prices will go up eventually. It’s still at USD35 a barrel. Forward curve is… Read More
BTr fully awards T-bills as demand remains up
May 26, 2020, 4:37 pm
MANILA – Demand for government securities remains high, resulting in the full award of Philippines’ Treasury bills (T-bills) and the drop of its rates across-the-board Tuesday. Average rate of the 91-day T-bill fell to 2.058 percent from 2.090 percent during the auction last May 18. The… Read More
SEC releases new deadline for annual reports
May 25, 2020, 9:38 pm
MANILA – The Securities and Exchange Commission (SEC) has released the new schedule and procedure for the submission of annual financial statements and the general information sheet (GIS) after the enhanced community quarantine. The Commission has issued SEC Memorandum Circular No. 18 Series of… Read More
