Business
PCCI urges Congress to fast-track stimulus act
May 4, 2020, 6:56 pm
MANILA – The Philippine Chamber of Commerce and Industry (PCCI) has urged Congress to immediately pass the Philippine Economic Stimulus Act (PESA) that will help the economy to recover from the impact of the coronavirus disease 2019 (Covid-19) pandemic. In a statement Monday, PCCI President… Read More
Peso, stocks start week weaker
May 4, 2020, 6:52 pm
MANILA – Both the peso and the main stocks index weakened Monday ahead of major economic reports during the week. The local currency finished the week’s first trading day at 50.595 to a dollar from 50.4 close last April 30. There was no trading last May 1 due to the Labor Day holiday. It… Read More
T-bill rates drop due to strong demand, ample liquidity
May 4, 2020, 6:05 pm
MANILA – The Bureau of the Treasury (BTr) on Monday made a full award of Treasury bills (T-bills) across-the-board and even upsized those for the 91- and 182-day paper due to strong demand. The rate of the 91-day paper declined to 2.479 percent from 2.617 percent during the auction last April… Read More
BSP checks on financial system's gains from policy measures
May 4, 2020, 3:24 pm
MANILA – Easing inflation rate gives the Bangko Sentral ng Pilipinas (BSP) leeway on its policy decisions but monetary officials need to step back for now to check if their recent aggressive measures are being absorbed by the financial system. In a Viber message to journalists Monday, Diokno… Read More
Gasoline prices up; diesel, kerosene down
May 4, 2020, 2:55 pm
MANILA – Oil firms announced adjustments on their pump prices starting Tuesday. In separate advisories, Chevron Philippines (Caltex), Petro Gazz, Phoenix Petroleum Philippines, PTT Philippines, Seaoil, and Shell said they will increase gasoline prices by PHP0.75 per liter and will reduce diesel… Read More
TRAIN, 2020 budget prepared gov't for Covid-19 crisis: DOF chief
May 4, 2020, 2:08 pm
MANILA – Department of Finance (DOF) Secretary Carlos Dominguez III has thanked the Congress for its crucial role in ensuring that the government is financially able to meet the challenges of the crisis spawned by the coronavirus disease 2019 (Covid-19) pandemic with the legislative approval of… Read More
DTI-DOLE guidelines on ECQ, GCQ list minimum health protocol
May 3, 2020, 7:57 pm
MANILA – Trade Secretary Ramon Lopez said the guidelines jointly issued by the Department of Trade and Industry (DTI) and Department of Labor and Employment (DOLE) allowing the private sector to operate during the enhanced community quarantine (ECQ) and general community quarantine (GCQ) will… Read More
PH financial strength among highest in the world: report
May 2, 2020, 9:22 am
MANILA – Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said a report that identified the Philippines as among countries with high financial strength validates the authorities’ belief in a robust economic recovery from the pandemic. A report from The Economist showed that the… Read More
UnionBank ups MSME lending
May 1, 2020, 8:59 pm
MANILA – Union Bank of the Philippines (Union Bank) is heeding the government’s push for increased lending to micro, small and medium enterprises (MSMEs), especially during this trying times, through its online lending platform, SeekCap. The Bangko Sentral ng Pilipinas (BSP) now considers as… Read More
LandBank continues cash aid to rice farmers
May 1, 2020, 5:54 pm
MANILA – The Land Bank of the Philippines (LandBank) has paid out over PHP308 million to over 60,000 farmer-beneficiaries listed under the Department of Agriculture’s (DA) Financial Subsidy to Rice Farmers (FSRF) initiative. In a statement, LandBank said that as of April 22, a total of 61,564… Read More
PH keeps clean record in USTR piracy watch list for 7 years
May 1, 2020, 4:52 pm
MANILA – The Philippines maintained its clean record to be out of the United States Trade Representative (USTR) Special 301 Report, the United States’ piracy watch list, for seven consecutive years. “We welcome the country’s continued exclusion from the Special 301 priority lists,”… Read More
DOF extends deadlines for payment of local taxes, fees to June 25
May 1, 2020, 4:12 pm
MANILA -- The Department of Finance (DOF) has issued on April 23 Department Circular (DC) No. 002-2020, which extended deadlines for the payment of “taxes, fees, and charges of local government units (LGUs), pursuant to Section 4 (z)” of Republic Act No. 11469, or the "Bayanihan to Heal as One… Read More
MBC cites front-liners' contributions in Covid-19 fight
May 1, 2020, 3:32 pm
MANILA – The Makati Business Club (MBC) on Friday commended the service of Filipino front-liners who are helping the country in fighting the coronavirus disease 2019 (Covid-19) pandemic. In its Labor Day message, the business group expressed its gratitude and respect to workers in essential… Read More
SEC-Cebu warns public vs. on line ‘get-rich-quick’ scammers
May 1, 2020, 2:02 pm
CEBU CITY – Despite the prevailing health crisis due to the coronavirus disease 2019 (Covid-19), online investment scammers continue victimizing the public in their “get-rich-quick” schemes, the Securities and Exchange Commission-Cebu extension office (SEC-CEO) said. Lawyer Alma Marie… Read More
San Miguel starts selling farmers’ produce in Petron stations
April 30, 2020, 8:51 pm
MANILA – San Miguel Corporation (SMC) is leveraging the extensive service station network of its fuel subsidiary, Petron Corporation, to further boost food accessibility throughout the country. To date, 30 stations have been utilized for the company’s efforts to bring food products closer to… Read More
LPG prices up in May
April 30, 2020, 8:28 pm
MANILA – Prices of liquefied petroleum gas (LPG) will increase effective May 1. Petron said it will raise prices of its LPG products by PHP5.80 per kilogram, and autoLPG by PHP3.25 per liter. Solane-branded LPG prices will also increase by PHP5.19-per kilogram. The price adjustment next month… Read More
NEDA chief sees Q1 positive growth amid Covid-19 ECQ
April 30, 2020, 8:23 pm
MANILA – The country’s chief economist is still optimistic on hitting a positive economic growth in the first quarter of 2020 amid the enhanced community quarantine (ECQ) measures due to the coronavirus disease 2019 (Covid-19) pandemic. “My sense is that we have good potential to see a… Read More
BSP forecasts April 2020 inflation rate at 1.9% to 2.7%
April 30, 2020, 6:12 pm
MANILA – Decline of oil prices in the international market is expected to decelerate further Philippines’ inflation rate, with the April 2020 figure seen to stay within 1.9 percent to 2.7 percent range. In a Viber message to journalists Thursday, Bangko Sentral ng Pilipinas (BSP) Governor… Read More
Stocks, peso sustain rise
April 30, 2020, 5:25 pm
MANILA – Risk-on sentiments again lifted both the local main equities index and the peso Thursday. The Philippine Stock Exchange index (PSEi) rose by 1.005 percent, or 56.74 points, to 5,700.71 points. All Shares increased by 0.60 percent, or 20.55 points, to 3,445.83 points. Services jumped… Read More
IC chief allays bankruptcy among insurers amid Covid-19
April 30, 2020, 4:41 pm
MANILA – Insurance Commissioner Dennis Funa is confident that insurance companies will not go bankrupt as a result of the coronavirus disease 2019 (Covid-19) pandemic. “Insurers are well-capitalized. I don’t think that is the immediate issue,” he said in a statement Wednesday. Funa said… Read More
