Business
30-day grace period for residential, commercial rent enforced
April 6, 2020, 5:54 pm
MANILA – The Department of Trade and Industry (DTI) released Memorandum Circular (MC) No. 20-12, series of 2020 on April 4 granting a 30-day grace period for residential rent as well as commercial rent of the micro, small, and medium enterprises (MSMEs) during the enhanced community quarantine… Read More
Another oil price reduction set Tuesday
April 6, 2020, 4:33 pm
MANILA — Oil companies will implement another price rollback effective Tuesday. Chevron (Caltex), Clean Fuel, Flying V, Petro Gazz, Phoenix Petroleum, PTT Philippines, Seaoil, and Shell will cut gasoline prices by PHP0.35 per liter and diesel by PHP0.70 per liter. Chevron, Flying V, Seaoil,… Read More
PH peso likely to trade sideways this week
April 6, 2020, 11:05 am
MANILA – The Philippine peso is projected to continue its sideways movement against the greenback this week along with the main stocks gauge as investors continue to worry, among others, about the impact of coronavirus disease (Covid-19). The local currency ended last week at 50.72 to a US… Read More
PH to produce 10K PPE coveralls daily starting next week
April 6, 2020, 9:53 am
MANILA – Garment exporters will pioneer the local production of medical-grade personal protective equipment (PPE) coverall after Holy Week, the Board of Investments (BOI) said in a statement. Member-companies of the Confederation of Wearable Exporters of the Philippines (Conwep) can produce… Read More
PH GDP growth to slide in ‘20 due to Covid-19: ADB
April 4, 2020, 2:59 pm
MANILA -- The Philippines’ economic growth will slow significantly this year before a strong rebound in 2021, with expansionary fiscal and monetary policies partly offsetting slower domestic demand and disruptions in tourism, trade, and manufacturing, according to a new Asian Development Bank… Read More
SEC directs implementation of 30-day extension for loan payments
April 3, 2020, 10:27 pm
MANILA -- The Securities and Exchange Commission (SEC) has ordered lending and financing companies to defer the collection of payments and charging of penalties while the country remains under a state of national emergency due to the coronavirus disease 2019 (Covid-19) pandemic. In a notice to… Read More
Nomura cites need for ‘sizeable’ supplementary budget for PH
April 3, 2020, 10:10 pm
MANILA -- Nomura has underscored the need for a “sizeable” supplementary budget if the current enhanced community quarantine (ECQ) in Luzon will be extended, saying it is important to provide additional aid for the poor and the economy. In a report, the global investment bank said that since… Read More
SEC warns financial 'scam' entities amid Covid-19 pandemic
April 3, 2020, 8:36 pm
CAGAYAN DE ORO CITY – The Securities and Exchange Commission (SEC) has warned entities not to engage in online fraudulent financial schemes in the wake of the 2019 coronavirus disease (Covid-19) contagion.In a statement on Friday, the SEC-Northern Mindanao regional office said it has issued a… Read More
Stocks, peso end week up
April 3, 2020, 5:19 pm
MANILA – The Philippine Stock Exchange index (PSEi) and the peso managed to end the week with gains despite the volatility brought about by anxieties over the coronavirus disease 2019 (Covid-19) pandemic. The main equities index rose 0.09 percent, or 4.66 points, to 5,346.97 points. All Shares… Read More
BTr to resume partial ops on April 6
April 3, 2020, 5:07 pm
MANILA – The Treasury bill (T-bill) auction scheduled on Monday will push through as the Bureau of the Treasury (BTr) resumes partial operations after Friday’s work suspension. Work at the BTr’s offices in Manila and the National Capital Region (NCR) was suspended “to give way to the… Read More
SMC tollways assure smooth flow of essential personnel, goods
April 3, 2020, 2:36 pm
MANILA – After waiving the toll fees for all medical practitioners last week, San Miguel Corp. (SMC) has reported that some 2,000 doctors and nurses have availed of the toll-free RFID stickers. The stickers are valid at the Southern Tagalog Arterial Road (STAR) tollway, South Luzon Expressway… Read More
Private sector calls for trading centers in barangays
April 3, 2020, 1:29 pm
MANILA - - As vegetables and other farm produce are left wasted due amid the coronavirus disease 2019 (Covid-19) lockdown, the private sector has proposed for an “emergency” trading centers to be put up in every barangay to ensure consumers supply of healthful food. The Philippine Chamber of… Read More
JAO preventing looming port congestion being finalized
April 2, 2020, 9:49 pm
MANILA -- The Department of Trade and Industry (DTI), in coordination with the Philippine Ports Authority (PPA), the Bureau of Customs (BOC), the Department of Finance (DOF), and the Department of Agriculture (DA), among others, have agreed to create a policy that will decongest the ports of… Read More
Fitch Solutions eyes peso to remain resilient, wider CA deficit
April 2, 2020, 9:44 pm
MANILA – Fitch Solutions forecasts the Philippine peso to remain resilient this year despite the weaker global economy due to the global pandemic, while it forecasts a wider current account deficit due to weaker external demand. In a report dated April 1, 2020, the unit of Fitch Group forecasts… Read More
Global economy could shrink by about 1% in ‘20 due to Covid-19
April 2, 2020, 9:37 pm
UNITED NATIONS — The global economy could shrink by up to 1 percent in 2020 due to the coronavirus disease 2019 (Covid-19) pandemic, a reversal from the previous forecast of 2.5 percent growth, the UN has said, warning it may contract even further if restrictions on the economic activities are… Read More
DOF issues rules on tax deadline extensions
April 2, 2020, 9:16 pm
MANILA -- Finance Secretary Carlos Dominguez III has issued the revenue regulations extending the deadlines for filing of tax returns, submission of documents, and the payment of taxes, pursuant to Republic Act 11469, otherwise known as “Bayanihan to Heal as One Act.” According to Revenue… Read More
Peso little changed, stocks dip after 2-day rally
April 2, 2020, 5:48 pm
MANILA – The Philippine peso on Thursday ended sideways against the greenback but the main equities gauge slipped in line with the performance of its counterparts in the region on worries over the Covid-19 pandemic. The local currency ended the day at 50.85 from 50.88 in the previous day. It… Read More
IATF allows 12-hr store ops during quarantine period
April 2, 2020, 3:32 pm
MANILA – Trade Secretary Ramon Lopez said the Inter-Agency Task Force for the Management of Emerging Infectious Diseases (IATF-EID) is allowing stores to operate for 12 hours during the enhanced community quarantine period. “Supermarkets groceries, agri-fisheries stores, public markets,… Read More
Meralco to adjust bills in next cycle
April 2, 2020, 1:45 pm
MANILA – Manila Electric Co. (Meralco) spokesperson Joe Zaldarriaga said Thursday that bills for March 17 to April 14 will be the average consumption for the past three months as the entire Luzon is still under the enhanced community quarantine amid the coronavirus disease 2019 (Covid-19)… Read More
P100B for social amelioration program now ready: Dominguez
April 2, 2020, 1:42 pm
MANILA — Half of the PHP200 billion to be distributed to people whose livelihoods were affected by the enhanced community quarantines (ECQ) put in place to address the rise of coronavirus disease 2019 (Covid-19) is now available. “The first PHP100 billion for the first month’s cash… Read More
