Business
SEC extends deadline for reports for coronavirus-affected firms
March 16, 2020, 6:53 pm
MANILA — The Securities and Exchange Commission (SEC) is giving corporations affected by the outbreak of the new coronavirus disease 2019 (Covid-19) more time to submit their annual and quarterly reports. Under a new memorandum circular approved on March 12, affected corporations with domestic… Read More
Banks ask clients to utilize digital, online platforms
March 16, 2020, 6:42 pm
MANILA – Banks are urging the general public to utilize financial institutions’ digital and online platforms for their payment requirements and inquiries as the government implements community quarantine to address the rise of coronavirus disease 2019 (Covid-19) cases. In an advisory, Tan-led… Read More
Flow of goods to continue amid enhanced community quarantine: DTI
March 16, 2020, 6:36 pm
MANILA – Department of Trade and Industry (DTI) Secretary Ramon Lopez has assured that movement of cargoes and supply chain of basic goods shall continue after President Rodrigo Duterte placed the entire Luzon under enhanced community quarantine. Lopez told reporters in a text message Monday… Read More
No power interruptions amid community quarantine
March 16, 2020, 3:01 pm
MANILA – The Manila Electric Company (Meralco) has postponed its maintenance schedule this week and will continue to provide uninterrupted power distribution during the community quarantine in Metro Manila. The company cancelled the scheduled power interruption starting March 17 to 22 in some… Read More
Thrift banks' adherence to Covid-19 measures cited
March 16, 2020, 2:55 pm
MANILA — An official of the Chamber of Thrift Banks (CTB) said measures are now being undertaken by their members as the government implements additional measures against the further spread of the coronavirus disease 2019 (Covid-19). In a statement, CTB Executive Director Suzanne Feliz said… Read More
Financial institutions urged to boost cybersecurity capabilities
March 16, 2020, 2:52 pm
MANILA — The Bangko Sentral ng Pilipinas (BSP) urged BSP-supervised financial institutions (BSFIs) to further strengthen their cybersecurity capabilities, citing that cyber criminals are taking advantage of the 2019 coronavirus disease (Covid-19) global pandemic. “Cyber threat actors are… Read More
DTI orders waiving of rents, fees for closed stores inside malls
March 16, 2020, 2:48 pm
MANILA – The Department of Trade and Industry (DTI) has ordered mall operators to waive rents and other fees for stores that are forced to shut down during the 30-day community quarantine in Metro Manila. “Lessors and owners of business spaces shall share the responsibility by waiving the… Read More
PH stock market on shortened trading during MM quarantine
March 16, 2020, 1:01 pm
MANILA – The Philippines’ bourse will have a shortened trading session starting March 16 up to April 14, 2020, in line with the community quarantine for Metro Manila from that started March 15. In a memorandum issued by the Philippine Stock Exchange, Inc. dated March 15, 2020, pre-open trading… Read More
Gov't mulls measures to continue fuel marking amid Covid-19
March 16, 2020, 10:37 am
MANILA – Finance officials are mulling some measures for the government to continue the implementation of the fuel marking program despite the community quarantine in Metro Manila from March 15-April 14, 2020. In a Viber message to journalists Sunday, Finance Secretary Carlos Dominguez III said… Read More
ITR filing still on April 15; gov't eyes amendments on returns
March 15, 2020, 5:43 pm
MANILA – Amendments may be made by the Bureau of Internal Revenue (BIR) for income tax return (ITR) filing following the declaration of community quarantine for Metro Manila, but the deadline remains on April 15. In a Viber message to journalists Sunday, Finance Secretary Carlos Dominguez III… Read More
BSP assures adequate banking services during community quarantine
March 14, 2020, 8:33 pm
MANILA – The Bangko Sentral ng Pilipinas (BSP) assured the public that it is in close coordination with banking industry groups to ensure availability of withdrawal and payments services despite the community quarantine in several areas around the country. In a statement Saturday night, the… Read More
Oil firms to cut fuel prices by P4/liter
March 14, 2020, 8:09 pm
MANILA -- Oil firms will slash fuel prices at least PHP4 per liter next week. Flying V and Petron will cut diesel and gasoline prices by PHP4 per liter and kerosene by PHP4.25 per liter. Petro Gazz, Seaoil, and Shell will rollback diesel and gasoline prices by PHP4.25 per liter. Seaoil and Shell… Read More
Davao biz group calls on banks to defer loans payments
March 14, 2020, 7:04 pm
DAVAO CITY -- The Davao City Chamber of Commerce and Industry Inc. (DCCCII) has called on banks to allow deferred payment of business loans for at least two months for businesses affected by the coronavirus disease 2019 (Covid-19) pandemic.In an interview on Friday, DCCCII president John Carlo… Read More
Restaurants, some stores in malls eyed for temporary closure
March 14, 2020, 5:32 pm
MANILA – Restaurants and stores inside malls that are not considered providing basic services and necessities will be ordered to close temporarily during the one-month community quarantine in Metro Manila amid the coronavirus outbreak. “We can now include closure of malls in the definition of… Read More
Diokno cites PH economy’s strength vs. Covid-19
March 14, 2020, 3:20 pm
MANILA – Keep the faith. This was what Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said vis-à-vis the impact of the coronavirus disease 2019 (Covid-19), which, he said, is not an economic crisis but a public health crisis. In a statement released on Saturday, the central bank… Read More
PHILEXPORT seeks aid for biz amid Covid-19 outbreak
March 13, 2020, 8:41 pm
MANILA – The Philippine Exporters Confederation, Inc. (PHILEXPORT) is urging the government to provide assistance to micro, small, and medium enterprises (MSMEs) as economic activities are also affected by the coronavirus disease 2019 (Covid-19) outbreak. In a statement Friday, PHILEXPORT… Read More
Coconut products maker nets P775.6-M in 2019
March 13, 2020, 8:35 pm
MANILA -- AXELUM Resources Corp., the country’s largest fully-integrated manufacturer and exporter of world-class premium coconut products, reported a net income of P775.6 million for 2019, up 113 percent from PHP364.8 million the previous year. “We also achieved a record level in terms of… Read More
Stocks recover, peso weakens still on coronavirus threat
March 13, 2020, 8:25 pm
MANILA – Philippine shares ended the week on a positive note despite worries on the rising coronavirus disease 2019 (Covid-19) in the country while the peso weakened against the US dollar. The Philippine Stock Exchange index (PSEi) ended the week’s trading at 5,793.94 points, up 1.005 percent… Read More
PH peso among most resilient in Asia to date: DOF exec
March 13, 2020, 7:10 pm
MANILA – The Philippines’ strong external payments position and continued improvement of macroeconomic fundamentals are the main reasons why the peso remains generally firm against the greenback, a ranking Department of Finance (DOF) official said. In an economic bulletin Friday, Finance… Read More
Covid-19 hurts Boracay’s business sector
March 13, 2020, 6:53 pm
ILOILO CITY – The business sector in Boracay Island in Malay town Aklan is suffering following a drop in tourist arrivals due to the coronavirus disease (Covid-19) scare. In a phone interview on Thursday, Malay Mayor Froliba Bautista said the tourist arrivals have gone down by 40 percent. The… Read More
