Business
DTI pushes for urgent passage of stimulus package vs. Covid-19
May 25, 2020, 9:30 pm
MANILA – The Department of Trade and Industry (DTI) is seeking the urgent passage of the proposed Philippine Economic Stimulus Act of 2020 (PESA), which aims to provide immediate assistance to workers and businesses and help the economy recover from the impact of the coronavirus disease 2019… Read More
Lawmakers urged to pass stimulus proposals to boost PH economy
May 25, 2020, 7:55 pm
MANILA – The Bangko Sentral ng Pilipinas (BSP) said the sooner the proposed stimulus measures are approved, the better to further cushion the economic impact of the global pandemic. In an interview over ANC Monday, BSP Governor Benjamin Diokno said fiscal stimulus “works with a lag” just… Read More
Business groups urge immediate passage of CREATE bill
May 25, 2020, 7:50 pm
MANILA – The Corporate Recovery and Tax Incentives for Enterprises Act (CREATE) bill, formerly the Corporate Income Tax and Incentives Reform Act or CITIRA, has gained support from business groups. In separate statements on Monday, the Philippine Chamber of Commerce and Industry (PCCI) and the… Read More
DTI, NTF inspect salons, barbershops, restaurants
May 25, 2020, 4:43 pm
MANILA – Department of Trade and Industry Secretary Ramon Lopez and National Task Force (NTF) against Covid-19 chief implementer Secretary Carlito Galvez conducted an inspection of health and safety protocols demonstrations of three salons and barbershops, as well as how a dine-in operation can… Read More
Big-time oil price hike on May 26
May 25, 2020, 3:35 pm
MANILA – Oil firms are set to implement a big-time price increase effective Tuesday. In separate advisories, Chevron (Caltex), Cleanfuel, Petro Gazz, Phoenix Petroleum, Seaoil and Shell will raise diesel prices by PHP2.10 per liter and PHP1.75 per liter on gasoline prices. Chevron, Seaoil and… Read More
5% tariff on all imports eyed to back gov’t Covid-19 response
May 25, 2020, 3:06 pm
MANILA – The Department of Trade and Industry (DTI) is proposing to impose an additional 5-percent tariff on all imports to generate funds for the government for its activities related to its fight against coronavirus disease 2019 (Covid-19). DTI Undersecretary Ceferino Rodolfo told trade… Read More
DOF cites top taxpayers that filed ITRs ahead of deadline
May 25, 2020, 2:00 pm
MANILA – The Department of Finance (DOF) has cited the country's Top 500 taxpayers as of May 19 that have heeded the government call for corporations and individuals to file their income tax returns (ITRs) ahead of the deferred payment deadlines during the twice-extended lockdown in the country… Read More
Gov’t to invite Covid-19 test kit makers to locate in PH
May 25, 2020, 8:56 am
MANILA – The government is scouting firms producing test kits for coronavirus disease 2019 (Covid-19) to put up manufacturing facilities in the Philippines, a trade official said. Department of Trade and Industry (DTI) Undersecretary Ceferino Rodolfo said this supports the national… Read More
Bohol consumers buy discounted goods at DTI rolling stores
May 24, 2020, 3:51 pm
CEBU CITY – The Department of Trade and Industry (DTI) Bohol Provincial Office has posted PHP1.6 million in sales in the "Diskwento Caravans" in the province as a move to enable consumers access affordable basic necessities and prime commodities amid the coronavirus disease 2019 (Covid-19)… Read More
PCCI awards cop who accosted foreigner for violating ECQ rules
May 23, 2020, 7:04 pm
MANILA – The Philippine Chamber of Commerce and Industry (PCCI) has recognized the professionalism of a police officer who recently accosted a foreigner for reportedly violating enhanced community quarantine (ECQ) rules inside a posh village in Makati City. PCCI president Amb. Benedicto… Read More
PH to benefit from US-China trade tension: Diokno
May 23, 2020, 6:55 pm
MANILA – The US-China trade war is seen to have a limited impact on the Philippine economy and is even considered to benefit the domestic economy in the long run. Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said bilateral trade with both countries accounts for over 25 percent of… Read More
PH eyes stockpiling of crude oil amid cheap global prices
May 23, 2020, 11:31 am
MANILA – The Philippines may take advantage of the low crude oil prices in the world market to prepare for the future once fuel prices increase due to the resumption of economic activities, Energy Secretary Alfonso Cusi said. Cusi briefed members of the Joint Congressional Energy Commission… Read More
Teachers loans still resilient: City Savings prexy
May 22, 2020, 7:46 pm
MANILA – City Savings Bank, a thrift bank subsidiary of Union Bank of the Philippines, has dubbed as resilient their teachers’ loan portfolio even with payment suspensions during the quarantine period. In a reply to questions from the Philippine News Agency (PNA), City Savings Bank President… Read More
PH reviving ‘buy local’ campaign
May 22, 2020, 6:29 pm
MANILA – Trade Secretary Ramon Lopez said the government is reviving the “buy local” campaign amid a different business environment due to the coronavirus disease 2019 (Covid-19) pandemic. In an interview with DZRH radio station on Friday, Lopez said the "buy local" campaign aims to… Read More
No pressure to cut banks' reserve requirement level anew: Diokno
May 22, 2020, 6:03 pm
MANILA – Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno discounted the need for another cut in banks’ reserve requirement ratio (RRR) anytime soon since domestic liquidity remains ample but hinted for more policy rate reduction. During the virtual seminar hosted by the Makati… Read More
SB Corp. scraps interest for CARES Program loans
May 22, 2020, 5:10 pm
MANILA – The Small Business (SB) Corp. will no longer impose interest on loans under the Covid-19 (coronavirus disease 2019) Assistance to Restart Enterprises (CARES) Program, its president and chief executive officer Ma. Luna Cacanando said. In a radio interview with DZRH on Friday, Cacanando… Read More
US-China dispute weakens PH stocks, peso
May 22, 2020, 4:23 pm
MANILA – Trade concerns between the US and China again worried investors resulting in the negative close of the Philippine Stock Exchange index (PSEi) and the sideways movement of the peso Friday. After a three-day rally, the main equities gauge declined by 1.17 percent, or 65.30 points, to… Read More
37 companies in Bataan freeport to resume ops
May 22, 2020, 1:13 pm
MARIVELES, Bataan – At least 37 out of the 100 companies at the Freeport Area of Bataan (FAB) here are set to resume operations after the province has been placed under modified enhanced community quarantine (MECQ). Hazel Keith Ellorin, information officer of the Authority of the Freeport Area… Read More
SMC buys 69M kilos of corn to support farmers; boost food supply
May 22, 2020, 12:49 pm
MANILA – San Miguel Corporation (SMC) made good on an earlier commitment to protect farmers’ income and ensure the country’s stable food supply in the coming months with its purchase of 69 million kilos of corn to date from farmers nationwide, in coordination with the Department of… Read More
AIA Philam Life exec remains optimistic amid pandemic
May 21, 2020, 8:38 pm
MANILA – The global pandemic has increased people’s interest to have insurance coverage and the digital technology boosted companies’ capacity to cater to more people. In a virtual briefing Thursday, AIA Philam Life chief executive officer Kelvin Ang said the outcome caused by the… Read More
