Business
BTr rejects T-bill tenders on higher-than-expected yields
March 23, 2020, 8:54 pm
MANILA – The Bureau of the Treasury’s (BTr) auction committee on Monday rejected bids for all treasury bill (T-bill) tenors after noting the general demand for high yields and undersubscription. BTr offered PHP20 billion worth of securities for the auction on Monday at PHP6 billion each for… Read More
BSP to buy P300-B debt securities to boost Covid-19 funds
March 23, 2020, 8:42 pm
MANILA – The government’s fight to address the impact of coronavirus disease 2019 (Covid-19) got another boost after the Bangko Sentral ng Pilipinas (BSP) decided to purchase PHP300 billion worth of short-term government securities to help fund programs. In a statement Monday, the central… Read More
Peso, stocks slip at the start of the week
March 23, 2020, 8:35 pm
MANILA – Worries about the rising number of coronavirus disease 2019 (Covid-19) cases mainly resulted in the depreciation of the Philippine peso and the negative close of the main equities index Monday. The local currency finished the day at 51.33 from 50.97 Friday last week. It opened the day… Read More
DA food pass registration goes online
March 23, 2020, 5:23 pm
DAVAO CITY – To ensure that the clients of the Department of Agriculture in Davao Region (DA-11) are safe from the threat of the 2019 coronavirus disease (Covid-19), the agency has shifted the registration of food pass accreditation through online application.As of Friday (March 20), food lane… Read More
Big firms set P1.5-B aid to urban poor amid Covid-19
March 23, 2020, 4:03 pm
MANILA – Big companies in the country have raised over PHP1.5 billion to help the urban poor amid the Covid-19 outbreak. “Project Ugnayan targets to distribute PHP1,000 gift certificates to over one million households in the poor communities of the greater Manila area,” the companies said… Read More
S&P cuts '20 growth forecast for PH due to Covid-19
March 23, 2020, 3:45 pm
MANILA – S&P Global Ratings sees a decline in the Philippine economic growth to 4.2 percent this year as a result of the coronavirus disease 2019 (Covid-19). This projection is way lower than the debt rater’s projection last February 19 when it slashed its forecast to 6.1 percent from 6.2… Read More
Another big-time oil price rollback set Tuesday
March 23, 2020, 3:40 pm
MANILA – Oil companies have announced another round of price reduction of at least PHP2 per liter effective Tuesday. In separate statements Monday, Chevron Philippines (Caltex), Petro Gazz, PTT Philippines, Seaoil, and Shell said they will slash diesel prices by PHP2 per liter and gasoline by… Read More
Biz group backs special law to address Covid-19
March 23, 2020, 9:00 am
MANILA – Various business organizations expressed their support to immediately pass the special law that gives additional power to the executive branch to address the Covid-19 crisis in the country. In a statement Monday, both local and foreign business groups believe that the Bayanihan Act of… Read More
DTI issues guidelines for IATF ID application for enterprises
March 22, 2020, 4:40 pm
MANILA – The Department of Trade and Industry (DTI) has started to process application of official identification cards approved by Inter-Agency Task Force (IATF) for enterprises allowed to operate during the enhanced community quarantine in Luzon. In DTI Memorandum Circular (MC) No. 20-08,… Read More
Ample supply of goods assured amid quarantine
March 21, 2020, 7:44 pm
MANILA – Trade Secretary Ramon Lopez said giant food manufacturers assured that there is an adequate supply of their products in the market during the enhanced community quarantine in Luzon. Lopez made the statement after the Philippine Association of Meat Processors Inc. (PAMPI) claimed that… Read More
Delays in supply delivery worry Butuan biz group
March 21, 2020, 5:29 pm
BUTUAN CITY – A business group has urged the government not to delay the deliveries of supply of goods, medicines and other basic necessities to prevent shortage and panic among consumers in the area.Filipino Chinese Chamber of Commerce of Agusan Inc. president Joey Tan told the Philippine News… Read More
Petron assures steady fuel supply amid Covid-19 crisis
March 21, 2020, 4:36 pm
MANILA – Petron Corporation has assured consumers of the continuous supply of its petroleum products as the entire nation steps up its fight against Covid-19. Petron president and CEO Ramon Ang said the company will also make sure that there is enough fuel, especially for vital industries to… Read More
PEZA issues new guidelines on movement of ecozone workers, goods
March 21, 2020, 3:31 pm
MANILA – The Philippine Economic Zone Authority (PEZA) released on Friday an advisory regarding the movement of ecozone workers and goods during the period of the Luzon-wide enhanced community quarantine. The advisory is effective to all ecozones operated, managed, or registered with PEZA… Read More
Aboitiz sets P900-M support for team members amid Covid-19 crisis
March 20, 2020, 10:13 pm
MANILA -- The Aboitiz Group has earmarked PHP900 million in assistance to help its team members cope with the ongoing coronavirus disease 2019 (Covid-19) pandemic following the announcement of a national state of calamity. This amount covers the early release of the end-March salary and the 13th… Read More
BSP expects PH economic recovery in 2021
March 20, 2020, 9:49 pm
MANILA – Monetary officials forecast a rebound of the Philippine economy from the impact of the coronavirus disease 2019 (Covid-19) by next year. In an e-mailed reply to journalists’ queries, the Bangko Sentral ng Pilipinas (BSP) said its policy-making Monetary Board (MB) continues to see the… Read More
MGen site activities suspended
March 20, 2020, 9:45 pm
MANILA -- In line with President Rodrigo Duterte’s order on the enhanced community quarantine in Luzon amid the coronavirus disease 2019 (Covid-19) pandemic, Meralco PowerGen Corporation (MGen) has announced that site activities of its project companies have been suspended since… Read More
Peso, stocks recover on bargain hunting
March 20, 2020, 9:34 pm
MANILA – Both the Philippine peso and stocks index ended the week on a positive note due to consolidation after the weakness mainly brought about by anxieties on the coronavirus disease 2019 (Covid-19) developments. The local currency improved against the US dollar and even climbed to 50.97… Read More
Losses can be recovered with help from gov't: Biz leader
March 20, 2020, 8:14 pm
BACOLOD CITY – As businesses halt operations and limit operating hours, a business leader here believes losses can be recovered with the assistance of the government once the coronavirus disease 2019 (Covid-19) crisis is over. Frank Carbon, chief executive officer of Metro Bacolod Chamber of… Read More
Gov't eyes more benefits for those affected by quarantine
March 20, 2020, 6:33 pm
MANILA – The government is now studying how it can further help people affected by the Luzon-wide enhanced community quarantine as the fight against coronavirus disease 2019 (Covid-19) continues. During the Laging Handa (Always Prepared) briefing aired over government-owned Philippine… Read More
Coca-Cola PH redirects P150-M fund for Covid-19 aid
March 20, 2020, 3:50 pm
MANILA -- Beverage company Coca-Cola Philippines is redirecting its PHP150-million budget for advertisement to support relief and response efforts amid the coronavirus disease 2019 (Covid-19) outbreak. “It is in this light that the Coca-Cola System in the Philippines and the rest of Southeast… Read More
