Business
Energy demand in VisMin down during Earth Hour 2020
March 30, 2020, 8:39 pm
MANILA – Lower energy demand was observed in Visayas and Mindanao while consumption in Luzon did not decline during the Earth Hour 2020, an energy official said Monday. In a Viber message, Energy Utilization Management Bureau Director Patrick Aquino told the Philippine News Agency that 35.5… Read More
Peso remains resilient vs USD, stocks slip anew
March 30, 2020, 8:36 pm
MANILA – The Philippine peso on Monday remained firm against the US dollar despite concerns on the continued rise of coronavirus disease 2019 (Covid-19) worldwide, especially in the US, but the main stocks gauge ended in the negative territory. The local currency finished the week’s first… Read More
BTr rejects bids for T-bills
March 30, 2020, 6:27 pm
MANILA – Demand for higher yields for the Treasury bills (T-bills) made the Bureau of the Treasury’s (BTr) auction committee reject anew bids for all tenors Monday. Had the committee issued the debt paper, the average rate of the 91-day paper would have risen to 3.50 percent, the 182-day… Read More
DTI-Cebu goes online for workers travel exemption processing
March 30, 2020, 6:24 pm
CEBU CITY – The Department of Trade and Industry (DTI) launched an online registration for certificate of exemptions for the workers of essential business establishments as the province-wide enhanced community quarantine commenced on Monday. “To ensure unhampered transit of personnel within… Read More
Another rollback set this week as global prices drop
March 30, 2020, 2:33 pm
MANILA — Oil firms will implement a rollback on fuel prices this week. In separate advisories, Clean Fuel, Flying V, Petro Gazz, Phoenix Petroleum, and Shell said they will cut diesel prices by PHP0.50 per liter and gasoline prices by PHP2 per liter starting Tuesday. Except for Clean Fuel… Read More
World has entered recession, says IMF
March 30, 2020, 2:30 pm
WASHINGTON — The world is in the face of a devastating impact due to the coronavirus pandemic and has clearly entered a recession, the International Monetary Fund said on Friday, but projected a recovery next year. "We have reassessed the prospects for growth for 2020 and 2021. It is now clear… Read More
55 Davao City BPOs comply with quarantine rules
March 28, 2020, 6:10 pm
DAVAO CITY -- Some 55 Business Process Outsourcing (BPO) offices are complying with Mayor Sara Z. Duterte's directive to contain the spread of the 2019 coronavirus disease (Covid-19).In a statement on Friday, the Davao City BPO 2019 coronavirus disease Task Force (BPO Covid-19 TF) said the BPOs… Read More
DBM releases funds for Q2 salaries of gov’t workers
March 27, 2020, 9:42 pm
MANILA -- The Department of Budget and Management (DBM) on Friday said it released the corresponding notices of cash allocation (NCAs) for the second-quarter operating requirements of all national government agencies (NGAs). In a statement, the DBM said the release of the NCAs ensures… Read More
ANZ Research eyes add’l monetary easing to address pandemic
March 27, 2020, 9:33 pm
MANILA – ANZ Research forecasts more policy easing from the Bangko Sentral ng Pilipinas (BSP) to help address the economic impact of the coronavirus disease 2019 (Covid-19). This, as the economic and financial markets research arm of Melbourne-headquartered Australia and New Zealand Banking… Read More
More targeted policy support vs. Covid-19 pushed
March 27, 2020, 9:26 pm
MANILA -- The government needs to further implement targeted policy support to address the coronavirus disease 2019 (Covid-19) pandemic’s impact on the Philippine economy, a report by UnionBank’s economic research unit said. The report cited analysts’ comparison on the economic situation of… Read More
Group calls for uniform interpretation of quarantine guidelines
March 27, 2020, 8:34 pm
DAVAO CITY – As local government units in the country are on lockdown due to the coronavirus disease 2019 (Covid-19) outbreak, banana industry leaders, through the Pilipino Banana Growers and Exporters Association (PBGEA), have called for a uniform interpretation of guidelines on the ground.In… Read More
Peso keeps ground, stocks slip on Covid-19 scare
March 27, 2020, 6:09 pm
MANILA – The Philippine peso continued to show resilience after ending the week sideways against the greenback, but the main equities index slipped after a three-day rally on investors’ wait-and-see stance on the US’ stimulus program. The local currency ended the week at 51.00 from 51.07 a… Read More
Security Bank undertakes more operational adjustments
March 27, 2020, 4:48 pm
MANILA – Security Bank Corporation (Security Bank) will implement additional operational adjustments for its branches nationwide starting Friday as more areas implement the enhanced community quarantine amid the coronavirus disease 2019 (Covid-19). In an advisory Friday, the bank said it has… Read More
SEC starts accreditation of capital markets workforce
March 26, 2020, 9:39 pm
MANILA -- The Securities and Exchange Commission (SEC) has started accrediting employees who shall comprise the skeletal staff of capital market institutions and participants during the coronavirus disease 2019 (Covid-19) pandemic. In a notice dated March 22, the Commission issued the guidelines… Read More
PH prioritizes support for Covid19-affected workers, frontliners
March 26, 2020, 9:35 pm
MANILA — The government’s current priority is supporting displaced workers and frontliners, and not extending any immediate stimulus package for businesses. This was stressed by Finance Secretary Carlos Dominguez III amid calls for government intervention for businesses that are also affected… Read More
ARTA pushes for extension of validity of permits, licenses
March 26, 2020, 9:30 pm
MANILA — The Anti-Red Tape Authority (ARTA) has encouraged government agencies to extend the validity of permits, licenses, certifications, and other similar authorizations that are expiring during the enhanced community quarantine period. ARTA released measures the government agencies can… Read More
BSP to remit P20-B advance dividends to fight Covid-19
March 26, 2020, 7:55 pm
MANILA – To further support the government in its fight against coronavirus disease 2019 (Covid-19), the Bangko Sentral ng Pilipinas (BSP) will remit PHP20 billion as advance dividend to the national government (NG). The advance dividends constitute 87 percent of the estimated total dividends… Read More
Power operations continue amid quarantine period: DOE
March 26, 2020, 6:15 pm
MANILA – The Department of Energy (DOE) has rejected the request of some power generation firms to shut down their generating units as electricity demand significantly declined in Luzon and Visayas during the enhanced community quarantine. “A decline in power demand does not mean that… Read More
Stocks rally anew, peso sideways vs. USD
March 26, 2020, 6:11 pm
MANILA – The Philippine Stock Exchange index (PSEi) rallied again Thursday while the peso ended sideways against the greenback. The main equities index rose 7.44 percent, or 373.82 points, to 5,401.58 points. It was mirrored by all the other indices, with the All Shares up by 6.06 percent, or… Read More
BTr to offer P190-B securities next month
March 26, 2020, 3:19 pm
MANILA – The government will offer a total of PHP190 billion worth of debt papers in April, including a 35-day Treasury bill (T-bill). In a memorandum to government securities eligible dealers (GSEDs) dated March 25, 2020, the Bureau of the Treasury (BTr) said PHP10 billion worth of 91-day… Read More
