Business
Initial Covid-19 vaccine results boost stocks, peso
May 19, 2020, 6:40 pm
MANILA – Reports about the positive initial results of the coronavirus disease 2019 (Covid-19) drug being developed by biotechnology firm, Moderna, and the call by the Federal Reserve for more policy support lifted sentiments in the Philippines’ financial market Tuesday. After a two-day… Read More
Diokno discounts need to tap IMF's new liquidity boost facility
May 19, 2020, 6:32 pm
MANILA – Structural reforms and sound economic management provide the Philippines the buffer to address coronavirus disease 2019 (Covid-19) response requirements and lessen the need to tap the International Monetary Fund’s (IMF) short-term liquidity line (SLL). This was stressed by Bangko… Read More
Foreign firms to study gov’t response to Covid before investing
May 19, 2020, 6:27 pm
MANILA – Foreign investors will consider how the government responds to the coronavirus disease 2019 (Covid-19) outbreak before investing in a certain country, Marikina City 2nd District Rep. Stella Luz Quimbo said Tuesday. During the Foreign Correspondents Association of the Philippines… Read More
DOF orders local treasurers to monitor Bayanihan grants to LGUs
May 18, 2020, 9:36 pm
MANILA – The Department of Finance (DOF) has directed local treasurers to report the expenditures under the “Bayanihan" grants that were released to local government units (LGUs) to help them address the impact of the coronavirus disease 2019 (Covid-19) outbreak in their respective… Read More
Century Properties profits up 32.2% to P1.48-B in 2019
May 18, 2020, 9:33 pm
MANILA – Property developer Century Properties Group, (CPG) Inc. on Monday reported its net income surged by 32.2 percent last year on the back of project completions from its residential condominium segment and its growing horizontal affordable housing and commercial leasing businesses. Its… Read More
Economic recovery depends on public’s behavior: Diokno
May 18, 2020, 9:27 pm
MANILA – Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said recovery of the domestic economy and preventing a second wave of the coronavirus disease 2019 (Covid-19) depends largely on the public’s behavior. “If we can avoid a second wave or a third wave, the forecast will be… Read More
Filinvest Land nets P6.3-B profit in 2019
May 18, 2020, 9:23 pm
MANILA – Filinvest Land, Inc. (FLI), the publicly-listed property arm of Gotianun-led Filinvest Development Corporation (FDC), reported a 7-percent increase in profit in 2019, driven by growth in revenues from its rental and residential businesses. In a statement on Monday, the company… Read More
T-bill rates decline anew
May 18, 2020, 5:34 pm
MANILA – The rates of the Philippines’ Treasury bill (T-bill) declined Monday due to strong liquidity in the economy. The average rate of the 91-day paper went down to 2.090 percent, the 182-day bill to 2.193 percent, and the 364-day T-bill to 2.653 percent. These were 2.269 percent, 2.374… Read More
SB Corp. rolls out low-interest loan for MSMEs in GCQ areas
May 18, 2020, 5:30 pm
MANILA – As more business establishments are allowed to reopen under general community quarantine (GCQ) areas, the Small Business (SB) Corp. has started accepting applications for low-interest loans for entrepreneurs in areas under GCQ on Monday. In a statement, the Department of Trade and… Read More
Stocks, peso weaken on negative US retail sales report
May 18, 2020, 5:22 pm
MANILA – Contraction in US’s April 2020 retail sales worried the markets, resulting in the negative close of the local stock barometer and the peso Monday. The Philippine Stock Exchange index (PSEi) lost 1.13 percent, or 62.60 points, to 5,479.35 points. All Shares followed after it fell… Read More
Oil prices to go up anew
May 18, 2020, 12:20 pm
MANILA – Oil prices increase for two weeks in a row as firms are set to implement the adjustment starting Tuesday. In separate advisories, oil players will increase diesel prices by PHP0.55 per liter, gasoline prices by PHP1.25 per liter, and kerosene prices by PHP2.35 per liter. The price hike… Read More
Prices of goods revert to SRP after end of price freeze
May 17, 2020, 7:16 pm
MANILA – Prices of basic necessities reverted to their suggested retail prices (SRPs) effective Saturday after the end of the 60-day nationwide price freeze, as earlier announced by the Department of Trade and Industry (DTI). For SRPs of manufactured basic goods, these will be based on the… Read More
PH listed 7th best country to do biz in: CEO magazine
May 17, 2020, 5:19 pm
MANILA – The Philippines was ranked as the seventh best country in the world to invest in or do business for 2020, according to CEO Magazine. In an article posted on its website https://www.theceomagazine.com/business/finance/countries-invest on April 29, the CEO Magazine said the Philippines… Read More
Contractors’ license application may be filed online amid MECQ
May 17, 2020, 4:47 pm
MANILA – Amid the modified enhanced community quarantine (ECQ) to contain the coronavirus disease (Covid-19) pandemic, the Philippine Contractors Accreditation Board (PCAB) continues to process Contractors’ License (CL) applications through electronic mail. The PCAB made this announcement… Read More
P16.4-B subsidies released to 2.1M small business workers
May 17, 2020, 12:51 pm
MANILA – The first tranche of a two-month wage subsidy package has been credited to the accounts of more than 2.1 million qualified beneficiary-workers of the Small Business Wage Subsidy (SBWS) program, jointly implemented by the Department of Finance (DOF), Bureau of Internal Revenue (BIR), and… Read More
DA, private groups partner for hassle-free food shopping
May 16, 2020, 6:09 pm
MANILA – To cater to more farm producers and consumers, the Department of Agriculture (DA) has expanded its partnership for the e-Kadiwa marketing initiative. Agriculture Secretary William Dar signed a memorandum of agreement with eight new partners, including six merchants and two logistics… Read More
Covid-19 losses on NorMin tourism at P1-B: NEDA
May 15, 2020, 6:36 pm
CAGAYAN DE ORO CITY – Northern Mindanao's tourism sector has been one of the hardest-hit by the coronavirus disease 2019 (Covid-19) pandemic, with losses reaching as high as more than PHP1 billion.This assessment was made by the National Economic and Development Authority in Region 10… Read More
Trade concerns weaken PH main equities gauge, peso
May 15, 2020, 6:21 pm
MANILA – Concerns over the trade tension between the US and China resulted in the risk-off sentiment and the negative close of the Philippines’ main equities index and the peso Friday. The Philippine Stock Exchange index (PSEi) lost 1.99 percent, or 112.75 points, to 5,541.95 points. All… Read More
BSP cuts ’20 remittance growth forecast to 2%
May 15, 2020, 4:00 pm
MANILA -- Philippine monetary officials further reduced their growth projection for inflows from overseas Filipino workers (OFWs) this year to two percent due to the impact of the global pandemic. In a Viber message to journalists Friday, BSP Governor Benjamin Diokno said the original target of… Read More
SMC starts delivery of donated testing booths, kits to NCR LGUs
May 15, 2020, 3:10 pm
MANILA – The San Miguel Corp. (SMC) has begun turning over its donation of coronavirus disease 2019 (Covid-19) testing booths, starting with the cities of Mandaluyong, Pasig, and Manila, fulfilling an earlier promise to help boost the testing capacities of all 17 Metro Manila local government… Read More
