Business
Rapid Covid-19 mass testing to help loosen ECQ: bizman
April 14, 2020, 8:50 pm
MANILA – A tycoon urged on Tuesday the government to implement rapid mass testing for coronavirus disease 2019 (Covid-19) to modify the enhanced community quarantine which has affected many businesses and the workforce. During the Laging Handa briefing, Philippine Chamber of Commerce and… Read More
NEDA’s 3-phased program to help economy recover faster
April 14, 2020, 8:45 pm
MANILA – The National Economic and Development Authority (NEDA) assured on Tuesday that the government’s measures and interventions on coronavirus disease 2019 (Covid-19) crisis will help the economy to recover faster. During the Laging Handa briefing, NEDA Undersecretary Rosemarie Edillon… Read More
BTr fully awards P30-B T-bond
April 14, 2020, 7:38 pm
MANILA – Members of the Bureau of the Treasury’s (BTr) auction committee Tuesday made a full award for the Treasury bond (T-bond) with a remaining life of one-year paper due to the strong demand. The paper, which has an original tenor of seven years, was offered for PHP30 billion and received… Read More
PCCI lauds gov’t plan to aid small biz workers
April 14, 2020, 7:08 pm
MANILA – Philippine Chamber of Commerce and Industry (PCCI) President Emeritus George Barcelon has commended the government’s plan to provide financial assistance to employees of small businesses. In Laging Handa briefing on Tuesday, Barcelon said small businesses need government assistance… Read More
Stocks sustain rise, peso ends sideways vs. USD
April 14, 2020, 7:01 pm
MANILA – Local equities continue to benefit from investors’ risk-on sentiments on Tuesday but the peso ended sideways against the US dollar. The Philippine Stock Exchange index (PSEi) increased by 3.03 percent, or 169.90 points, to 5,780.88 points. All Shares rose by 2.61 percent, or 88.32… Read More
SEC Bicol sustains ease of doing business amid pandemic
April 14, 2020, 6:46 pm
LEGAZPI CITY – The Securities and Exchange Commission (SEC) Bicol has adopted measures to allow corporations to easily comply with the regulations, in a manner most convenient and practical for them amid the enhanced community quarantine (ECQ) due to the coronavirus disease 2019 (Covid-19)… Read More
OPEC+ looking to cut oil output by 20M barrels a day: Trump
April 14, 2020, 2:36 pm
WASHINGTON – OPEC+ are trying to bring total reduction of oil production to 20 million barrels per day, US President Donald Trump wrote on Twitter on Monday. "Having been involved in the negotiations, to put it mildly, the number that OPEC+ is looking to cut is 20 million barrels a day, not the… Read More
ING Bank economist optimistic on PH economy amid pandemic
April 14, 2020, 2:32 pm
MANILA – An economist of ING Bank Manila discounts a negative output for the Philippine economy as a result of the coronavirus disease 2019 (Covid-19) pandemic this year, but said government spending is the key to ensure its revival. In a report dated April 13, ING Bank Manila senior economist… Read More
SM contributes P100-M to multisector Covid-19 relief initiative
April 13, 2020, 10:28 pm
MANILA -- SM has contributed PHP100 million to a multisector coronavirus disease 2019 (Covid-19) poverty relief initiative called Project Ugnayan. The amount is in addition to PHP170 million in medical supplies donations to over 50 hospitals nationwide that helped equip health workers in the… Read More
ADB triples Covid-19 response package to $20-B
April 13, 2020, 10:18 pm
MANILA -- The Asian Development Bank (ADB) said Monday it tripled the size of its response to the novel coronavirus disease 2019 (Covid-19) pandemic to USD20 billion and approved measures to streamline its operations for quicker and more flexible delivery of assistance. The package expands ADB’s… Read More
Brent crude oil price up 4.4% to $32.85 per barrel
April 13, 2020, 8:59 pm
MOSCOW -- The price of futures contracts of Brent crude oil for June 2020 delivery climbed by 4.4 percent on London's ICE on Monday to $32.85 per barrel, according to the trading data as of 3:44 a.m. Moscow time. WTI futures are up by 6.8 percent to $24.31 per barrel. A reported surge in oil… Read More
Investors swamp T-bill auction
April 13, 2020, 8:55 pm
MANILA – Demand for Philippine government-issued Treasury bills (T-bills) was strong Monday on expectations for further hikes in the central bank’s key rates resulting in full awards for all tenors and opening of the tap facility. The Bureau of the Treasury (BTr) offered the 91-day paper for… Read More
Seaoil pledges to fight Covid-19 with DOTr shuttle service
April 13, 2020, 8:11 pm
MANILA — Oil company Seaoil has pledged anew to help the government in fighting the coronavirus disease 2019 (Covid-19), this time giving free fuel worth more than PHP400,000 for buses ferrying medical front-liners under the Department of Transportation’s free shuttle service. The DOTr has… Read More
Phinma Group commits P25M for Covid-19 response
April 13, 2020, 8:06 pm
MANILA – Phinma Group has committed at least PHP25 million to help the country’s most vulnerable sectors amid the coronavirus disease 2019 (Covid-19) pandemic. The amount will come from Phinma Group’s PRO (Phinma Reaches Out) 2020 program, which was launched by Phinma President and Chief… Read More
Stocks rise, peso weakens
April 13, 2020, 7:32 pm
MANILA – Expectations for another cut in the Bangko Sentral ng Pilipinas’ (BSP) key policy rates boosted the local equities market Monday but the peso weakened against the US dollar. The Philippine Stock Exchange index (PSEi) rose 1.82 percent, or 100.15 points, to 5,610.98 points. All… Read More
Group warns consumers vs. stockpiling of medicines, vitamins
April 13, 2020, 6:36 pm
MANILA – Consumer advocacy group Laban Konsyumer Inc. (LKI) has called on consumers not to stockpile medicines and vitamins amid the coronavirus disease (Covid-19) pandemic. In a statement Monday, LKI President Victorio Mario Dimagiba said some consumers are stockpiling medicines and vitamins… Read More
2nd batch of SAP funds to be released in early May
April 13, 2020, 6:33 pm
MANILA -- The government will release the additional funds for financial support to the vulnerable sector affected by the coronavirus disease 2019 (Covid-19) pandemic early next month. “The next PHP170 billion actually will be released towards the beginning of May,” Finance Secretary Carlos… Read More
DBM releases P30.8-B Covid-19 aid to cities, municipalities
April 13, 2020, 6:28 pm
MANILA – The Department of Budget and Management (DBM) has released PHP30.82 billion to cover the one-time financial assistance to cities and municipalities in response to the coronavirus disease 2019 (Covid-19). In a statement on Monday, the DBM said the released amount, which is in line… Read More
Gov’t finalizing Covid-related support for MSME workers
April 13, 2020, 5:18 pm
MANILA – Employees working for the micro, small and medium enterprises (MSMEs) will get additional government support as part of the program to help lessen the impact of the coronavirus disease 2019 (Covid-19) pandemic to their livelihoods. “We will announce a program to assist the employees… Read More
Oil prices up this week as OPEC, allies agree to cut production
April 13, 2020, 11:27 am
MANILA – Oil companies will increase the prices of diesel and gasoline this week. In separate advisories, Chevron (Caltex), Petro Gazz, Phoenix Petroleum, PTT Philippines, and Shell will hike diesel prices by PHP0.15 per liter and PHP0.55 per liter for gasoline prices. The oil price hike will… Read More
