Business
PPA gives relief to port lessees, operators amid ECQ
April 24, 2020, 8:45 pm
MANILA – Lessees and port operators having contracts with the Philippine Ports Authority (PPA) can heave a sigh of relief as the agency gives a 30-day reprieve in the payment of rental and concession fees. The memorandum circular, which was signed on Thursday, is in accordance with the Bayanihan… Read More
Insurance firms go digital to meet demand amid ECQ
April 24, 2020, 7:44 pm
MANILA – The enhanced community quarantine (ECQ), declared to combat the coronavirus disease 2019 (Covid-19) pandemic, has initially limited the sales of insurance products but companies have boosted their capabilities and have seen an increase in demand. In an online briefing Friday, Pru Life… Read More
Biz sector eyes expansion of WFH capabilities with extended ECQ
April 24, 2020, 6:48 pm
MANILA – With the extension of the enhanced community quarantine in Metro Manila and some provinces in the country, the Philippines is expected to join the worldwide trend of expanding the work-from-home (WFH) capabilities of companies. According to Lenovo’s “Workplace Transformation”… Read More
Shares, peso end week weaker partly on ECQ extension
April 24, 2020, 6:43 pm
MANILA – Local shares and the peso ended Friday in the negative territory as investors weighed the impact of another extension of the enhanced community quarantine (ECQ) in the National Capital Region (NCR) and other areas. After a recovery Thursday, the Philippine Stock Exchange index (PSEi)… Read More
PH inflation seen to fall below target in Q3 ’20 to Q1 ‘21
April 24, 2020, 6:02 pm
MANILA – The country’s inflation rate is seen to decelerate below the government’s 2 percent to 4 percent target starting in the third quarter of 2020 until the first quarter of next year because of the coronavirus virus 2019 (Covid-19) pandemic. In a briefing held through the Facebook page… Read More
Sale of gov't assets for Covid-19 response far from happening
April 24, 2020, 4:51 pm
MANILA – Selling of government assets is still far from economic managers’ minds even if President Rodrigo R. Duterte has repeatedly announced willingness to do this to provide funds for additional coronavirus disease 2019 (Covid-19) response requirements. “We have not reached the point at… Read More
Gov’t eyes longer ITH for firms locating outside NCR
April 24, 2020, 4:05 pm
MANILA – Department of Trade and Industry (DTI) Secretary Ramon Lopez said Friday the government is looking into the grant of enhanced incentives for enterprises that will put up their businesses outside Metro Manila. This is in support of Senator Christopher Lawrence “Bong” Go’s proposed… Read More
PH e-payments goal gets boost during ECQ
April 23, 2020, 8:52 pm
MANILA – The Bangko Sentral ng Pilipinas’ (BSP) program to encourage people to use digital payment platforms got a boost during the ongoing enhanced community quarantine (ECQ) in most parts of the country. Data from the central bank showed that transactions using PESONet and InstaPay visibly… Read More
SMC to distribute P150-M poultry products to poor families
April 23, 2020, 7:47 pm
MANILA -- San Miguel Corporation has set aside PHP150 million worth of poultry products from its inventory to be given to poor communities mostly in areas where it operates, bringing its total contribution to help address challenges brought about by the coronavirus disease 2019 (Covid-19) pandemic… Read More
Alliance Global donations to help fight Covid-19 hits over P603M
April 23, 2020, 6:58 pm
MANILA – The companies of tycoon Andrew Tan under its holding firm Alliance Global Group, Inc. (AGI) have already donated over PHP603 million to various efforts in the country’s fight against coronavirus disease 2019 (Covid-19). Since the start of the enhanced community quarantine in Luzon… Read More
DTI rejects requests of industries to reopen biz
April 23, 2020, 6:49 pm
MANILA – The Department of Trade and Industry (DTI) has denied the requests of the alcohol beverage industry and automotive dealers to allow the reopening of some of their operations as their businesses now struggle with the enhanced community quarantine. In separate letters, DTI Secretary… Read More
GSIS gives add'l life insurance to Covid-19 gov’t front-liners
April 23, 2020, 6:44 pm
MANILA -- The Government Service Insurance System (GSIS) will provide additional life insurance coverage to a total of 27,682 frontline workers of the government nationwide who are putting their lives at risk in the fight against coronavirus disease 2019 (Covid-19). This was announced Thursday… Read More
Stocks, peso gain as oil prices recover
April 23, 2020, 5:50 pm
MANILA – Rebound of global oil prices boosted investors’ sentiment and benefited the local main equities index and the peso. After a three-day slide, the Philippine Stock Exchange index (PSEi) rose 0.46 percent, or 25.80 points, to 5,599.55 points. All Shares followed with a jump of 0.61… Read More
BPI execs project better biz results in Q2 '20
April 23, 2020, 5:26 pm
MANILA – The Ayala-led Bank of the Philippine Islands (BPI) on Thursday reported a 5-percent drop in net income in the first quarter of 2020 but figures are expected to get better in the second quarter. “We have a very good reason to believe that the second-quarter earnings will hold up… Read More
Bayanihan PPE Project turns over 10K coveralls to PGH
April 23, 2020, 4:40 pm
MANILA – Department of Trade and Industry-led Bayanihan PPE Project has turned over 10,000 medical-grade coveralls to the Philippine General Hospital (PGH) to ensure that front-liners have proper personal protective equipment (PPE) in their fight against the coronavirus disease 2019… Read More
BPI remains in ‘good shape’ despite ECQ
April 23, 2020, 2:07 pm
MANILA – The president of Ayala-led Bank of the Philippine Island (BPI) expects the business to remain resilient despite the impact of the coronavirus disease (Covid-19) global pandemic. During the online annual stockholders meeting Thursday, Cezar Consing, also BPI CEO, said they are preparing… Read More
BSP's term deposit facility rate declines on high demand
April 22, 2020, 7:47 pm
MANILA – Rate of the Bangko Sentral ng Pilipinas’ (BSP) seven-day term deposit facility (TDF) fell Wednesday due to strong demand and further cut in the central bank’s key policy rates. Data released by the central bank showed that average accepted yield of the facility fell to 2.4369… Read More
Peso stays firm, stocks drop anew
April 22, 2020, 5:58 pm
MANILA – The Philippine peso ended almost unchanged against the US dollar on Wednesday but the main equities gauge lost anew. The local currency finished the day at 50.8 to the greenback from 50.79 a day ago. It opened the day at 50.85, little changed from its 50.83 start Tuesday. It traded… Read More
SEC tracks down more unauthorized investment schemes
April 22, 2020, 5:53 pm
MANILA – The Securities and Exchange Commission (SEC) has identified four more unauthorized investment schemes, including rackets possibly operated by previously flagged groups under new names. In separate advisories issued on April 21, the commission warned the public against dealing with… Read More
DTI-7 opens loan facility for MSMEs affected by Covid-19
April 22, 2020, 5:49 pm
CEBU CITY – Micro and small entrepreneurs in Central Visayas affected by the enhanced community quarantine can now borrow funds from the government to help their distressed businesses amid the coronavirus disease (Covid-19) pandemic, the Department of Trade and Industry (DTI)-Central Visayas… Read More
