Business
Fil-Chi group endorses aid to help MSMEs survive amid ECQ
April 22, 2020, 5:41 pm
MANILA – The Federation of Filipino Chinese Chambers of Commerce and Industry, Inc. (FFCCCII) has made recommendations to the government to help micro, small, and medium enterprises (MSMEs) survive amid the enhanced community quarantine (ECQ) due to the coronavirus pandemic. In a statement… Read More
PEZA secures P16-B pledges in Q1 2020
April 22, 2020, 4:53 pm
MANILA – The Philippine Economic Zone Authority (PEZA) has registered a total of PHP16.5 billion worth of projects as of March 2020, its director general Charito Plaza said. This, however, is lower by 27.98 percent from investment pledges in January to March 2019 at PHP22.9 billion. Plaza said… Read More
Manufacturers urged to slash canned goods prices
April 22, 2020, 2:19 pm
MANILA – Laban Konsyumer, Inc. (LKI) has urged canned goods manufacturers to lower the prices of their products as world oil prices continue to stumble. During the virtual presser of Tapatan sa Aristocrat on Wednesday, LKI President Victorio Mario Dimagiba said they should implement at least a… Read More
DOF recruiting staff to support PHL economic bounce-back plan
April 22, 2020, 12:56 pm
MANILA – The Department of Finance (DOF) is currently recruiting highly-competent and committed individuals who are willing to support President Rodrigo Duterte's economic team in crafting a bounce-back plan for the domestic economy as soon as the coronavirus disease 2019 (Covid-19) pandemic is… Read More
SPV-like measure for companies hurt by pandemic sought
April 21, 2020, 10:00 pm
MANILA – Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno on Tuesday pitched a measure similar to the Special Purpose Vehicle (SVP) Act of 2002 to help companies hit by coronavirus disease (Covid-19) pandemic. In an online meeting with members of the House of Representatives and… Read More
BTr fully awards 35-day T-bill
April 21, 2020, 9:38 pm
MANILA – Demand for the 35-day Treasury bill (T-bill) auctioned by the Bureau of the Treasury (BTr) was high Tuesday, resulting not only in the full award but also the opening of the tap facility to meet investors’ needs. Total bids for the paper, which was offered after more than a decade,… Read More
'AccessiWheels' seeks volunteers to ferry more patients
April 21, 2020, 9:00 pm
MANILA -- Social enterprise AccessiWheels is looking for more volunteer drivers to provide free rides to more patients and healthcare workers during the duration of the Luzon-wide enhanced community quarantine (ECQ). Founded in 2018, this startup is a business incubatee of the University of… Read More
Peso unchanged, stocks index drops anew
April 21, 2020, 8:16 pm
MANILA – The Philippine peso ended flat against the US dollar on Wednesday but the main equities index slipped for the second consecutive day as concerns over the impact of the coronavirus disease 2019 (Covid-19) remain. The local currency finished the day unchanged at 50.79 compared to its… Read More
High time for PH to import LNG: Fitch Solutions
April 21, 2020, 8:13 pm
MANILA – Fitch Solutions said it is an opportune time for the Philippines to start the importation of liquefied natural gas (LNG) as prices fall in the global market. Fitch Solutions, a unit of Fitch Ratings, said the country has to find alternative sources of gas to offset the declining output… Read More
SEC-Cebu introduces interim online system for clients amid ECQ
April 21, 2020, 7:33 pm
CEBU CITY — The Securities and Exchange Commission - Cebu Extension Office (SEC-CEO) has offered its clients an easy way to transact business during the enhanced community quarantine (ECQ) through its interim online registration system (IORS). Lawyer Alma Marie Dalena, officer-in-charge of the… Read More
BSP eyes zero to -1% growth for PH this '20
April 21, 2020, 6:43 pm
MANILA – Philippine monetary officials forecast domestic growth this year to be at zero or negative 1 percent as a result of the coronavirus global pandemic. “Worst case is negative one (percent), best case is zero but many things can still happen,” Bangko Sentral ng Pilipinas (BSP)… Read More
FPI urges reopening of factories
April 21, 2020, 6:36 pm
MANILA – The Federation of Philippine Industries (FPI) has asked the government to allow manufacturers, both producers of essential and non-essential goods, to resume their operations to support the economy and government resources. In its recommendation letter submitted to President Rodrigo… Read More
Most German firms in PH won’t lay off workers amid Covid-19
April 21, 2020, 6:31 pm
MANILA – A survey showed that more than half of German companies in the Philippines will not decrease the number of their employees amid the coronavirus disease 2019 (Covid-19) crisis. According to the AHK-World Business Outlook Survey-Spring 2020 survey, 47 percent of the surveyed German firms… Read More
Pandemic to hit 170 countries' GDP in 2020: IMF head
April 21, 2020, 5:25 pm
ISTANBUL – Some 170 countries will face narrowing in their GDP this year due to the coronavirus' impact on the economy, the directing manager of the International Monetary Fund (IMF) said late Monday. "Only months ago, we were projecting 160 economies to register positive per capita income… Read More
US oil price turns negative for first time in history
April 21, 2020, 11:57 am
NEW YORK – US oil prices crashed to the negative territory for the first time in history on Monday, fueled by pandemic-related demand shock and oversupply fears. The West Texas Intermediate (WTI) for May delivery shed USD55.9, or more than 305 percent, to settle at negative USD37.63 a barrel on… Read More
DOF extends anew deadlines for tax amnesty, returns
April 20, 2020, 9:12 pm
MANILA -- The Department of Finance (DOF) has issued Revenue Regulations (RR) No. 10-2020 further extending deadlines to submit or file necessary documents and/or pay taxes required under the Tax Code of 1997 as amended, following President Rodrigo Duterte's extension of the enhanced community… Read More
BTr raises T-bill award due to high demand
April 20, 2020, 9:07 pm
MANILA – The Bureau of the Treasury (BTr) upsized by PHP4 billion the Treasury bills (T-bills) it awarded Monday due to strong demand and drop in rates. BTr offered both the 91-day and 182-day papers for PHP5 billion each, but these were upsized to PHP7 billion after tenders for the bellwether… Read More
Biz sector seeks clear plan on resumption of economic activities
April 20, 2020, 6:54 pm
MANILA – The country’s largest business organization, the Philippine Chamber of Commerce and Industry (PCCI), has urged the government to lay clear plans on the partial resumption of businesses and economic activities. “There are many enterprises that are planning to lay off their… Read More
PH peso ends higher, stocks index slips
April 20, 2020, 6:39 pm
MANILA – The peso ended the week’s first trading day up against the US dollar but the Philippine Stock Exchange index (PSEi) ended on the red still on uncertainties of policies on the coronavirus disease (Covid-19). The peso finished the day at 50.79, better than its 50.9 close Friday last… Read More
Gov’t studying options for ban on sin products while on ECQ
April 20, 2020, 6:05 pm
MANILA – Finance Secretary Carlos Dominguez III wants the liquor ban to remain in place while a community quarantine remains in effect around the country, but said options are now being looked into for tobacco products. “I am not in favor (of lifting the liquor ban),” he told journalists in… Read More
