Business
Covid-19 highlights need for efficient disinfection services
April 2, 2020, 1:30 pm
MANILA – When the coronavirus disease 2019 (Covid-19) started to take a toll on the lives of people across the globe, one of the measures countries have implemented is the mass disinfection of establishments, roads, and public places. With this in mind, former Metropolitan Manila Development… Read More
GSIS pensioners to receive pension April 2
April 2, 2020, 12:11 pm
MANILA -- All pensioners of the Government Service Insurance System (GSIS) will receive their monthly pension on Thursday, instead of the usual crediting date of every 8th of the month. “We already deposited their pension yesterday (Wednesday). So by today, April 2, all our pensioners should be… Read More
Century Pacific nets P3.1 billion in 2019
April 1, 2020, 9:23 pm
MANILA -- Canned food company Century Pacific Food Inc. (CNPF) booked an 11-percent increase in net income in 2019 to PHP3.1 billion from PHP2.8 billion the previous year. In a statement Wednesday, CNPF said its last year’s consolidated revenues grew by 7 percent to PHP40.6 billion, driven… Read More
Covid-19 mass testing a must: DOF chief
April 1, 2020, 8:05 pm
MANILA – Department of Finance (DOF) Secretary Carlos Dominguez III favors mass testing for coronavirus disease 2019 (Covid-19) but raised the need to improve capacity first. “It’s a must,” he told journalists in a Viber message Tuesday night. Asked whether the government has the… Read More
PH, Singapore post largest manufacturing drop in Asean in March
April 1, 2020, 8:01 pm
MANILA – Performance of the manufacturing sector in the Philippines and Singapore posted the biggest deterioration among surveyed Southeast Asian countries, the latest Manufacturing Purchasing Managers’ Index (PMI) of IHS Markit reported Wednesday. Asean’s headline PMI for March plunged to… Read More
Fitch unit forecasts lower household spending in PH
April 1, 2020, 6:06 pm
MANILA – Household spending in the Philippines this year is projected to slow down due to the quarantine measures implemented by the government amid the coronavirus disease 2019 (Covid-19) outbreak, a unit of Fitch Group said. In a report dated March 31, Fitch Solutions said household spending… Read More
Stocks rise anew, peso weakens vs. USD
April 1, 2020, 6:00 pm
MANILA – The Philippines’ main equities index rose for the second day in a row on Wednesday but the peso weakened against the greenback as investors remain worried about the impact of the coronavirus disease 2019 (Covid-19) outbreak. The Philippine Stock Exchange index (PSEi) rose 1.64… Read More
Lenders barred from charging penalties on payments due within ECQ
April 1, 2020, 4:55 pm
MANILA – All lenders are mandated to implement a 30-day grace period without slapping any penalty for all loans with principal and/or interest payments due within the enhanced community quarantine (ECQ) from March 17 to April 12, 2020. This is stated under Section 3.01 of the implementing rules… Read More
Gradual lifting of community quarantine eyed
April 1, 2020, 4:50 pm
MANILA – Trade Secretary Ramon Lopez said on Wednesday a gradual lifting of enhanced community quarantine will be recommended to the Inter-Agency Task Force on Emerging Infectious Diseases to ensure that the new norm of social distancing will be observed. During the Laging Handa briefing, Lopez… Read More
Standard Chartered launches $50-M Covid-19 aid fund
April 1, 2020, 2:30 pm
MANILA — Standard Chartered (the Group) announced Wednesday it is launching a USD50-million global fund providing assistance to those affected by the coronavirus disease 2019 (Covid-19) pandemic. In a statement, the Group said it will immediately donate USD25 million to support emergency relief… Read More
Big-time rollback on LPG prices in April
April 1, 2020, 2:25 pm
MANILA – Oil companies implemented big-time reduction in prices of liquefied petroleum gas (LPG) products effective Wednesday (April 1). In separate advisories, Phoenix LPG Philippines Inc. and Petron Corp. reduced LPG prices by PHP10.70 per kilogram and PHP6 per liter rollback on AutoLPG… Read More
SEC continues online company registration amid quarantine
March 31, 2020, 9:17 pm
MANILA -- The Securities and Exchange Commission (SEC) continues to accept applications for registration of corporations and partnerships online, with at least 2,500 applications processed while Luzon and other regions undergo enhanced community quarantine to contain the coronavirus disease 2019… Read More
Campaign vs. hoarders, profiteers to continue: DTI
March 31, 2020, 7:44 pm
MANILA — The Department of Trade and Industry (DTI), along with the National Bureau of Investigation (NBI) and the Philippine National Police-Criminal Investigation and Detection Group (PNP-CIDG), seized over PHP15 million worth of alcohol, hand sanitizers, face masks, and thermal scanners in… Read More
PCC OKs Synergy’s acquisition of shares in OneTaipan, Pacifica21
March 31, 2020, 7:16 pm
MANILA -- The Philippine Competition Commission (PCC) has cleared the proposed acquisition by Synergy Grid & Development Phils., Inc. of shares in OneTaipan Holdings, Inc. and Pacifica21 Holdings, Inc. seeing the transaction unlikely to result in substantial lessening of competition in the… Read More
BTr rejects bids for 35-day T-bill
March 31, 2020, 7:12 pm
MANILA – Bids for the 35-day Treasury bill, a tenor last issued nearly two decades ago, were fully rejected by the Bureau of the Treasury’s (BTr) auction committee on Tuesday due to the demand for high yield. Had the auction committee issued the paper, its rate would have averaged at 3.390… Read More
Increasing e-payment seen in PH amid Covid-19 crisis
March 31, 2020, 5:52 pm
MANILA – Rising demand for electronic payment is projected in the country after the government imposed a community quarantine for one month in response to the coronavirus disease 2019 (Covid-19) outbreak, the Oxford Business Group (OBG) said. In a report released on Tuesday, the OBG said the… Read More
PH stocks, peso recover
March 31, 2020, 4:57 pm
MANILA – The Philippine Stock Exchange index (PSEi) recovered Tuesday after a two-day slide while the peso followed suit. The main equities index rose 3.70 percent, or 190.07 points, to 5,321.23 points. This performance was mirrored by all other indices, with All Shares up by 2.97 percent, or… Read More
PH studying add’l measures vs. global recession
March 31, 2020, 2:28 pm
MANILA – The government is readying additional measures to further buoy the domestic economy from economic difficulties, especially now that multilateral lenders have raised the threat of a global recession. In a Viber message to journalists, Finance Secretary Carlos Dominguez III said… Read More
BSP eyes March inflation between 2 to 2.8%
March 31, 2020, 11:23 am
MANILA – The Bangko Sentral ng Pilipinas (BSP) forecasts a generally slower inflation rate for March 2020 of between 2 to 2.8 percent, from February’s 2.6 percent, partly due to lower petroleum prices in the international market. In a statement Tuesday, the central bank said global crude oil… Read More
Nomura eyes add'l 75 bps cut in BSP rates this '20
March 30, 2020, 9:28 pm
MANILA – Nomura forecasts another 75-basis-point reduction in the Bangko Sentral ng Pilipinas (BSP) key policy rates this 2020 on back of the need to help lift domestic growth from another global economic crisis. In a report, the… Read More
