Business
DAR-assisted coops in Caraga earn over P37-M
May 6, 2020, 9:09 pm
BUTUAN CITY – The 2019 coronavirus disease (Covid-19) crisis did not deter the will of Agrarian Reform Beneficiaries Organizations (ARBOs) in Caraga Region to pursue their economic activities.Armed with quarantine passes issued by the Department of Agrarian Reform Caraga Region (DAR-13), 92… Read More
MPIC profits down 6% in Q1 amid Covid-19 ECQ
May 6, 2020, 8:55 pm
MANILA – Infrastructure conglomerate Metro Pacific Investments Corp. (MPIC) on Wednesday reported a 6-percent decline in profit in the first quarter of 2020 as various businesses were affected by the enhanced community quarantine (ECQ) imposed to contain the spread of the coronavirus disease… Read More
BSP 7-day term deposit rate falls anew
May 6, 2020, 4:43 pm
MANILA – Rate of the Bangko Sentral ng Pilipinas’ (BSP) seven-day term deposit facility (TDF) fell anew this week as demand remains strong. It slipped to 2.2654 percent during the auction Wednesday from 2.3133 percent last week, data from the central bank showed. The BSP offered this… Read More
Peso ends sideways; stocks down
May 6, 2020, 4:35 pm
MANILA – The Philippine peso ended Wednesday sideways against the US dollar but the main equities index ended in a negative territory. The local currency finished the day’s trade at 50.46 from 50.52 close Tuesday. It opened the day flat at 50.61 and traded between 50.64 and 50.455. The… Read More
Dominguez discounts supplemental budget for this year
May 6, 2020, 3:58 pm
MANILA – Finance Secretary Carlos Dominguez III has dismissed as an option a supplemental budget to finance the government’s coronavirus disease 2019 (Covid-19) response. In a briefing Wednesday, Dominguez said “we have been very careful about asking for (a) supplemental budget because… Read More
DOF chief eyes positive GDP results in Q1 '20
May 6, 2020, 3:53 pm
MANILA – Department of Finance (DOF) Secretary Carlos Dominguez III remains optimistic for a positive domestic output in the first quarter of 2020 despite the impact of the Taal Volcano eruption and the community quarantines due to the coronavirus disease 2019 (Covid-19). In a briefing… Read More
BSP adopts relief measures in support of MSME sector
May 5, 2020, 8:40 pm
MANILA – The Monetary Board has approved prudential measures to assist the micro, small and medium enterprise (MSME) sector carry on with its business during the coronavirus disease 2019 (Covid-19) crisis, as well as hasten recovery and sustainability of their operations in the post-crisis… Read More
D&L Industries optimistic about growth prospect amid Covid-19
May 5, 2020, 8:13 pm
MANILA – D&L Industries, a manufacturer of specialty food ingredients, plastics, and oleochemicals, remained optimistic about long-term growth even after reporting a decline in earnings in the first quarter of 2020 due to the coronavirus disease 2019 (Covid-19) pandemic. “I am not able to give… Read More
Local carriers gear up to resume commercial flight operations
May 5, 2020, 6:37 pm
MANILA – Local carriers Philippine Airlines (PAL) and Cebu Pacific (CEB) on Tuesday announced their preparations as they anticipate resumption of flight operations, as well as the safety measures they would implement for the benefit of both the staff and the passengers. All local carriers have… Read More
35-day T-bill rate declines
May 5, 2020, 5:51 pm
MANILA – The rate of the Philippines’ 35-day Treasury bill (T-bill) declined on Tuesday due to strong demand. The rate of the debt instrument went down to 2.042 percent from 2.714 percent during the auction last April 21. The Bureau of the Treasury (BTr) offered this for PHP15 billion and… Read More
BSP not expected to cut key rates again very soon: reports
May 5, 2020, 5:46 pm
MANILA – The Bangko Sentral ng Pilipinas (BSP) is not expected to announce another round of rate easing in the near term despite the sustained deceleration of the domestic inflation rate. The Philippine Statistics Authority (PSA) on Tuesday reported the five-month low inflation rate of 2.2… Read More
Stocks recover, peso ends sideways
May 5, 2020, 5:42 pm
MANILA – Philippines’ main stocks gauge recovered Tuesday while the peso ended the day sideways to a US dollar partly on the government’s report about lower inflation rate last April and the sustained recovery of oil prices. The Philippine Stock Exchange index (PSEi) rose by 1.79 percent,… Read More
Brent crude price bounces over $28 per barrel
May 5, 2020, 5:38 pm
MOSCOW – The Brent crude oil futures price for July 2020 has increased by 3.64 percent during the trading at the ICE exchange in London on Tuesday to reach USD28.19 per barrel, the trading data available at 03:05 Moscow time shows. The West Texas intermediate futures, meanwhile, is trading… Read More
Seaoil's free fuel for front-liners extended till May 15
May 5, 2020, 5:33 pm
MANILA -- Seaoil Philippines has extended its special fuel discount for all front-liners which can be availed at all open Seaoil outlets. In a press release Tuesday, Seaoil said the discount will continue to be PHP5 for gasoline and PHP3 for diesel. Front-liners include medical professionals,… Read More
GOCCs remit P129-B to help fund Covid-19 response
May 5, 2020, 4:27 pm
MANILA – Government-owned and -controlled corporations (GOCCs) have remitted PHP129.45 billion to the Bureau of the Treasury (BTr) as of April 27, to augment funds for state-led efforts to contain the spread of the coronavirus disease 2019 (Covid-19) and provide economic relief to poor families… Read More
PH inflation slows further to 2.2% in April
May 5, 2020, 3:23 pm
MANILA – Inflation slowed for the third consecutive month last April to 2.2 percent, in line with the Bangko Sentral ng Pilipinas’ (BSP) forecast of a benign inflation environment due to the coronavirus disease 2019 (Covid-19) pandemic. Rate of price increases in the fourth month of 2020… Read More
PH remains No.1 in Southeast Asia for budget transparency
May 4, 2020, 8:59 pm
MANILA – The Philippines secured the top spot in Southeast Asia for budget transparency based on the results of the 2019 Open Budget Survey (OBS) released on April 29. The country received an Open Budget Index (OBI) score of 76, maintaining its position as the most fiscally transparent country… Read More
DA launches ‘eKadiwa’ digital marketing app
May 4, 2020, 8:50 pm
MANILA – The Department of Agriculture (DA) on Monday launched “eKadiwa” digital marketing app that links farm producers to consumers amid the extended enhanced community quarantine (ECQ) to contain the spread of coronavirus disease 2019 (Covid-19). “During this difficult time, we in… Read More
RCBC posts 77% net income jump in Q1
May 4, 2020, 7:49 pm
MANILA – Big jumps in loans and trading gains allowed the Yuchengco-led Rizal Commercial Banking Corporation (RCBC) to post a 77-percent increase in net income to PHP2.3 billion in the first quarter of 2020 from PHP1.3 billion during the same period last year, In a statement, the bank said… Read More
Deadlines for tax amnesty, ITR extended anew
May 4, 2020, 7:01 pm
MANILA – The Department of Finance (DOF) has issued Revenue Regulations (RR) No. 11-2020 further extending to June or July the deadlines on the filing or submission of necessary documents and/or payment of taxes required under the Tax Code of 1997, as amended. Such deadlines were extended… Read More
