Business
Megawide builds patient care centers for NCR hospitals
April 20, 2020, 4:50 pm
MANILA -- Engineering and infrastructure conglomerate Megawide fielded volunteer employees and subcontractors to build emergency patient care centers (PCCs) that will help decongest major hospitals in Metro Manila dealing with coronavirus disease 2019 (Covid-19) cases. Megawide volunteers,… Read More
PCCI asks gov’t to lure firms exiting China
April 20, 2020, 4:45 pm
MANILA – Philippine Chamber of Commerce and Industry (PCCI) President Benedicto Yujuico said the government should look into attracting companies that plan to exit from China by offering generous incentives to keep the economy afloat amid the coronavirus disease 2019 (Covid-19) pandemic. During… Read More
Oil price rollback set for Tuesday
April 20, 2020, 4:38 pm
MANILA – Oil companies will roll back their prices starting Tuesday. In separate advisories, oil players Chevron (Caltex), Clean Fuel, Flying V, Petro Gazz, Petron, Phoenix Petroleum, PTT Philippines, Seaoil, Shell, and Total will reduce prices of diesel by PHP1.15 per liter, and 55 centavos… Read More
Grab launches on-demand grocery delivery service
April 20, 2020, 3:40 pm
MANILA – Groceries and other necessities may now be delivered at-your-doorstep within a few hours in Metro Manila following Grab Philippines' (Grab) launch of its GrabMart service on Monday. In an announcement, Grab said the service, currently at its beta phase, is available on its smartphone… Read More
SEC-Cebu modifies transactions to align with ECQ
April 19, 2020, 3:52 pm
CEBU CITY – The Cebu extension office of the Securities and Exchange Commission (SEC) is open for transactions under a modified procedure aligned with the new measures under the enhanced community quarantine (ECQ) here. Tiara Jabutay, SEC-Cebu information officer, said in a statement that the… Read More
Bizman denies illegal financial scheme
April 18, 2020, 7:31 pm
CAGAYAN DE ORO CITY – A businessman here denied on Saturday (April 18) the accusation of the Securities and Exchange Commission (SEC) that he is engaging in an illegal financial scheme In a radio interview, Joshua Calderon, chief executive officer of Jocals688 Beauty and Wellness Products… Read More
Dominguez denies he’s the reason for Pernia's resignation
April 17, 2020, 8:43 pm
MANILA – Finance Secretary Carlos Dominguez III has decried allegations naming him as the reason behind the resignation of Socioeconomic Planning Secretary Ernesto Pernia. “I can’t imagine why,” he told journalists Friday in a Viber message when asked for his reaction on talks regarding… Read More
DTI chief urges mask production as demand climbs to 1.2B
April 17, 2020, 8:16 pm
MANILA – Trade Secretary Ramon Lopez expects the demand for face masks to increase to 1.2 billion per month amid the coronavirus disease 2019 (Covid-19) pandemic. In a text message to reporters Friday, Lopez said assuming 20 million households need two face masks daily, the demand for the… Read More
Downstream oil industry spends P180-M as Covid-19 response
April 17, 2020, 7:04 pm
MANILA – Players in the downstream oil industry have spent at least PHP180 million under their own corporate social responsibility (CSR) programs as the country faces the coronavirus disease 2019 (Covid-19) pandemic, the Department of Energy (DOE) said. Oil firms extended their assistance by… Read More
Universal Robina nets P10.1-B
April 17, 2020, 5:28 pm
MANILA -- Universal Robina Corporation (URC) booked a 7-percent increase in net income to PHP10.1 billion last year, driven by the growth in operating income offset by finance cost, other expenses, and adverse foreign exchange impacts. In a statement, URC said its operating Income, including… Read More
Economist likens latest BSP support to MSMEs to RRR cut
April 17, 2020, 4:36 pm
MANILA – An economist considers as a reserve requirement ratio (RRR) cut the Bangko Sentral ng Pilipinas’ (BSP) decision to count as RR compliance the loans extended by banks to micro, small and medium enterprises (MSMEs). The BSP’s decision was made by the policy-making Monetary Board (MB)… Read More
Stocks end week up, peso weaker vs. USD
April 17, 2020, 4:19 pm
MANILA – Local shares ended the week up while the peso weakened partly due to the strengthening of the greenback amid news of the US economy’s reopening. After a slide on Thursday, the Philippine Stock Exchange index (PSEi) rose 4.78 percent, or 264.37 points, to 5,789.97 points. All Shares… Read More
NEDA chief Pernia resigns
April 17, 2020, 4:17 pm
MANILA – Socioeconomic Planning Secretary Ernesto Pernia on Friday announced his resignation from the post, citing personal reasons. “This is due partly to personal reasons and partly to differences in development philosophy with a few of my fellow Cabinet members,” he said in a statement.… Read More
‘Build Build Build’ program to back PH growth after crisis
April 17, 2020, 4:11 pm
MANILA – The government’s infrastructure projects under the “Build Build Build” program will support the country to bounce back from the impact of the coronavirus disease 2019 (Covid-19) crisis. During the Laging Handa public briefing Friday, Bases Conversion and Development Authority… Read More
Startup introduces 'Drive Groceries'
April 17, 2020, 3:54 pm
MANILA -- Can't go out to buy groceries, or would you rather practice social distancing? Business incubator, Drive, recently introduced "Drive Groceries", to help Metro Manila residents particularly at this time of the enhanced community quarantine due to the coronavirus disease 2019… Read More
SMC to buy more farmers produce to sustain farm incomes
April 17, 2020, 3:33 pm
MANILA – Food conglomerate San Miguel Corporation (SMC) is looking to tap more farmers nationwide to supply raw material for its food products, help sustain farm incomes in the countryside and secure food supply amid the coronavirus disease 2019 (Covid-19) crisis. “We are looking for ways to… Read More
Economists eye add’l cuts in BSP rates, RRR due to Covid-19
April 17, 2020, 12:15 pm
MANILA – Following the off-cycle 50 basis points reduction in the Bangko Sentral ng Pilipinas’ (BSP) key rates on Thursday, additional cuts are expected soon, not just in the key rates but in banks’ reserve requirement ratio (RRR). Effective Friday, the central bank’s overnight reverse… Read More
Finance chief discounts sale of gov’t assets for Covid response
April 17, 2020, 8:59 am
MANILA – Finance Secretary Carlos Dominguez III does not see the need to sell state-owned properties to finance the coronavirus disease 2019 (Covid-19) response. In an interview during the Alerto program hosted by Philippine Communications Operations Office (PCOO) Secretary Martin Andanar aired… Read More
Borrowings to address revenue constraints amid quarantine
April 16, 2020, 9:09 pm
MANILA – The government has funds to support its coronavirus disease 2019 (Covid-19) response but additional requirements will be financed by borrowings as revenues are constrained, Finance Secretary Carlos Dominguez III said. When the government declared the community quarantine in Metro… Read More
Gov’t gives incentives to manufacturers of Covid-related products
April 16, 2020, 8:36 pm
MANILA – The Board of Investments (BOI) has opened the accreditation for companies manufacturing products that are related to the government’s effort to fight the coronavirus disease 2019 (Covid-19) pandemic. On its Facebook page, BOI said it started to accept accreditation on April… Read More
