Business
Supermarkets eye cap on purchase of hygiene products
March 11, 2020, 5:38 pm
MANILA — The Philippine Amalgamated Supermarkets Association (Pagasa) is proposing to limit the retail sale of personal hygiene products per customer, as panic buying is now observed amid the coronavirus disease 2019 (Covid-19) outbreak. In its proposed protocol on supermarket and groceries… Read More
Streamlining of processes to speed up trade amid Covid-19 pushed
March 11, 2020, 5:35 pm
MANILA – To ensure a quick rebound of the country’s external sector, the government should implement measures that streamline processes to facilitate trade amid the coronavirus disease 2019 (Covid-19) outbreak, the National Economic and Development Authority (NEDA) said. The Philippine… Read More
Property market still normal amid Covid-19
March 11, 2020, 4:45 pm
MANILA – The country’s property market has been stable so far for the past months amid the spread of coronavirus disease 2019 (Covid-19). During Lamudi’s The Outlook 2020: Roundtable Series in Makati City Wednesday, Federal Land, Inc. Executive Vice President Catherine Ko said the company… Read More
SEC finalizes measures to help firms cope with Covid-19 outbreak
March 11, 2020, 2:44 pm
MANILA – The Securities and Exchange Commission (SEC) is finalizing measures that would allow the use of remote communication in corporations’ regular and special meetings, and extend the filing period for annual reports for affected corporations to help mitigate the impact of the outbreak of… Read More
Experts warn of economic recession amid Covid-19, oil price dive
March 10, 2020, 10:21 pm
ANKARA – With the ever-growing impact of coronavirus on countries’ economic output and the latest duel between Saudi Arabia and Russia on oil production, experts are worried about global economic recession. The world economy seems to have stepped into a very cloudy March mostly because of the… Read More
AirAsia to fly Zambo-Cebu-Clark routes
March 10, 2020, 9:45 pm
ZAMBOANGA CITY -- Despite the coronavirus disease 2019 (Covid-19) scare, AirAsia said it will push through with its inaugural flights to this city from two destinations, Cebu and Clark.AirAsia Chief Executive Officer Ricardo Isla said the Cebu-Zamboanga and vice-versa maiden flight will be on… Read More
Foreign biz groups eye passage of new retail trade act
March 10, 2020, 9:31 pm
MANILA – The Joint Foreign Chambers of the Philippines (JFC) is looking forward that the bill amending the Retail Trade Liberalization Act of 2000 will soon be passed by the Congress. JFC lauded the approval of House Bill 59 in the House of Representatives on second reading last week, and hopes… Read More
Covid-19 outbreak could cost global economy up to $2 trillion
March 10, 2020, 9:30 pm
UNITED NATIONS – The coronavirus outbreak could cost the global economy up to USD2 trillion this year, the UN's trade and development agency said, warning that shock from the epidemic will cause a recession in some countries and depress global annual growth to below 2.5 percent. "We envisage a… Read More
LANDBANK hits 86% of agri support target in January
March 10, 2020, 9:25 pm
MANILA -- The Land Bank of the Philippines (LANDBANK) already lent out a total of PHP229.38 billion to the agriculture sector as of January 31, achieving 86.5 percent of its loan target of PHP265 billion for the entire 2020. LANDBANK President and Chief Executive Officer Cecilia Borromeo said one… Read More
Stocks, peso end sideways
March 10, 2020, 9:18 pm
MANILA – Both the Philippine stocks’ main index and the peso ended sideways on Tuesday as investors remain worried about the impact of the coronavirus disease 2019 (Covid-19). The Philippine Stock Exchange index (PSEi) gained 0.09 percent, or 5.77 points, to 6,318.38 points, which BPI Research… Read More
PH budget deficit may breach target due to Covid-19 expenses
March 10, 2020, 9:16 pm
MANILA – Economic managers on Tuesday said the government’s budget gap may breach the 3.2 percent of gross domestic product (GDP) target this year to 3.6 percent due to spending related to coronavirus disease 2019 (Covid-19). “Assuming that the Covid-19-induced disruptions last until after… Read More
Aboitiz Equity nets P22 billion in 2019
March 10, 2020, 9:13 pm
MANILA – Aboitiz Equity Ventures (AEV) ended the year 2019 with a net income of PHP22 billion, slightly lower than the PHP22.2 billion recorded the previous year. Power accounted for 57 percent of the total income contributions from AEV’s Strategic Business Units (SBUs) last year, followed by… Read More
‘WiFi-calling’ launched to select Smart users
March 10, 2020, 6:54 pm
MANILA – Select mobile subscribers will be able to experience clearer calls and better messaging experience through the commercial rollout of voice-over-Wi-Fi (VoWiFi) in the country by Smart Communications Inc. (Smart). In a statement, Smart said starting Monday, Smart Signature and Infinity… Read More
Oriente exec eyes more growth for PH fintech subsidiary
March 10, 2020, 5:35 pm
MANILA – More Filipinos are expected to benefit from the USD20-million loan facility secured by technology and data science firm, Oriente, from the Hong Kong-based multi-asset investment firm, Silverhorn Group. Oriente, the parent company of app-based financial technology company Cashalo, said… Read More
Asean countries agree to conclude RCEP negotiations
March 10, 2020, 3:50 pm
DA NANG – Asean countries have agreed to try and persuade India to return to the negotiating table for the 16-nation Regional Comprehensive Economic Partnership (RCEP) trade deal. Representatives of Asean countries also discussed investment service regulations and a flexible open-door market… Read More
Peso firm, stocks plunge over 6% amid Covid-19
March 9, 2020, 9:25 pm
MANILA – The Philippine peso managed to stay firm against the US dollar Monday but the main equities index fell more than six percent due to concerns on the rise of coronavirus disease 2019 (Covid-19) cases in the country. The local currency ended the week’s first trading day at 50.58 from… Read More
BSP chief discounts slower loan growth, NPL rise due to Covid-19
March 9, 2020, 8:05 pm
MANILA – Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno has countered projections for possible rise of non-performing loans (NPLs) and a slower loan growth for domestic banks this 2020 due to the impact of the coronavirus disease 2019 (Covid-19). Diokno said this outlook is… Read More
PCCI urges Senate to pass CITIRA
March 9, 2020, 7:38 pm
MANILA – The Philippine Chamber of Commerce and Industry (PCCI), the country’s largest business organization, is pressing the Senate to immediately pass the Corporate Income Tax and Incentives Rationalization Act (CITIRA) to boost the competitiveness of micro, small, and medium enterprises… Read More
PH gov't eyes issuance of foreign currency bonds amid Covid-19
March 9, 2020, 6:50 pm
MANILA – The Philippine government is keeping its plan to issue foreign currency bonds this year but timing depends on developments on the coronavirus disease 2019 (Covid-19). National Treasurer Rosalia de Leon said they continue to monitor the situation, citing that about USD1 billion to USD1.5… Read More
Amending Public Service Act to add investments, jobs: biz groups
March 9, 2020, 5:48 pm
MANILA – Local and foreign business groups in the country have expressed their support to amend the Public Service Act, which is expected to attract more investments and create additional jobs for Filipinos. In a joint statement Monday, the 12 business groups said amendments to the 84-year-old… Read More
