Business
PH 6-month, 1-year T-bill rates slip
March 9, 2020, 4:43 pm
MANILA – Rates of the Philippines’ 182-day and 364-day Treasury bills (T-bills) declined Monday as domestic liquidity remains high and investors continue to expect another cut in the Bangko Sentral ng Pilipinas’ (BSP) key rates. Average rate of the six-month paper slipped to 3.312 percent… Read More
Oil firms to cut prices anew
March 9, 2020, 4:23 pm
MANILA — Oil companies announced price rollback on their products this week. Gasoline prices will go down by as much as PHP1.20 per liter, while diesel prices will be PHP0.75 cheaper per liter. Seaoil and Shell will cut kerosene prices by PHP1.05 per liter. Most of the oil players will implement… Read More
Brent crude oil below $34/barrel for first time since Feb. '16
March 9, 2020, 2:53 pm
MOSCOW – The cost of futures for Brent crude oil with settlement in May 2020 on the ICE Exchange in London fell by 33.4 percent to USD33.94 per barrel, according to trading data as of 01:08 Moscow time. By 01:25 Moscow time, Brent partially won back its fall, the price of futures rose to… Read More
Davao biz leader anxious over low inflation rate
March 7, 2020, 8:56 am
DAVAO CITY – An official of the Davao City Chamber of Commerce and Industry, Inc. (DCCCII) has expressed concern over the decelerating inflation rate, which reached 2.6 percent in February from 2.9 percent in January.The Philippine Statistics Authority (PSA) said on Thursday that compared to the… Read More
Underemployment rate drops to new record low in 10 years
March 6, 2020, 9:37 pm
MANILA – The Philippine labor market continued to record positive gains as underemployment rate fell to its lowest in a decade on top of an increased employment rate, the National Economic and Development Authority (NEDA) said. The January round of the Labor Force Survey (LFS) of the Philippine… Read More
Vietnam ready to host Asean Summit
March 6, 2020, 9:22 pm
ĐÀ NẴNG – Asean member-countries highly appreciate Vietnam’s initiatives and proposals in building a vision for Asean in 2025 and beyond, as well as preparations for the Asean Summit at the Asean Joint Consultative Meeting (JCM) on Friday. Deputy minister of foreign affairs Nguyễn Quốc… Read More
Economists weigh rate, RRR cuts before BSP rate setting meet
March 6, 2020, 8:43 pm
MANILA – Economists are divided on whether the Bangko Sentral ng Pilipinas (BSP) would follow or not the emergency rate cut of the Federal Reserve to counter the economic impact of the coronavirus disease 2019 (Covid-19). In a reply to an e-mail from the Philippine News Agency (PNA) on Thursday,… Read More
Dominguez urges lawmakers to pass law vs. POGOs
March 6, 2020, 8:40 pm
MANILA – Finance Secretary Carlos Dominguez III called on legislators Friday to approve a law that will ban Philippine offshore gaming operators (POGOs) if they want this sector to stop their operations. In a briefing, he said the Department of Finance (DOF) only implements the law and cannot… Read More
Finance chief pushes for AMLA amendment
March 6, 2020, 8:35 pm
MANILA – Finance Secretary Carlos Dominguez III on Friday indicated willingness to work with legislators anew for the proposed Anti-Money Laundering Act (AMLA) reforms, saying there is a need to safeguard the country against dirty money. In his speech during the oath-taking of local treasurers… Read More
Peso ends week sideways, stocks dip on Covid-19
March 6, 2020, 7:13 pm
MANILA – The Philippine peso managed to close Friday sideways against the US dollar despite the concerns on the rising number of coronavirus disease 2019 (Covid-19) cases, including in the Philippines, but the main equities index ended in the red. The peso ended the day at 50.64 from… Read More
Meralco rates up in March
March 6, 2020, 6:56 pm
MANILA – Electricity rates will be slightly higher this month, Manila Electric Company (Meralco) announced Friday. Meralco said power rates for March will increase by PHP0.0278 per kilowatt hour (kWh), bringing the electricity rates for this month at PHP8.8901 per kWh from PHP8.8623 per kWh in… Read More
Normalcy of world trade unlikely in H2 2020: UNCTAD
March 6, 2020, 6:53 pm
MANILA – The United Nations Conference on Trade and Development (UNCTAD) said it is unlikely for the world trading system to return to medium- and long-term trends before the second half or even in the fourth quarter of the year. An article posted by UNCTAD Wednesday showed that shipping data… Read More
BPO still a key driver for PH office space
March 6, 2020, 6:50 pm
MANILA – Santos Knight Frank, a real estate service company, said the business process outsourcing (BPO) sector will remain as a major driver of demand for office space market in the country. In a report Friday, Santos Knight Frank Senior Director for Occupier Services and Commercial Agency… Read More
BIR seals machines in offsite cockfight betting sites in QC
March 5, 2020, 9:42 pm
MANILA – Offsite cockpit betting machines of Manila Cockers Club, Inc. (MCCI) in 19 locations in Quezon City were sealed simultaneously Thursday to prevent them from being used since these are unregistered with the Bureau of the Internal Revenue (BIR). In a briefing after the operation at MCCI… Read More
DMCI Holdings nets P10.5-B in 2019
March 5, 2020, 9:36 pm
MANILA – Diversified engineering conglomerate DMCI Holdings Inc. recorded PHP10.5 billion in consolidated net income in 2019, a 27-percent drop from PHP14.5 billion the previous year. The decline was mainly attributable to lower contributions from Semirara Mining and Power Corporation (SMPC) and… Read More
Stocks rise anew, peso ends sideways
March 5, 2020, 9:30 pm
MANILA – News about efforts to avert a global slowdown due to the impact of the coronavirus disease 2019 (Covid-19) mainly lifted Philippine stocks Thursday, while the peso ended sideways. The Philippine Stock Exchange index (PSEi) gained 0.26 percent, or 17.51 points, to 6,884.77 points. BPI… Read More
D&L Industries sets P3-B capex for 2020
March 5, 2020, 9:18 pm
MANILA – D&L Industries, a manufacturer of food ingredients, plastics, and oleochemicals, is doubling its capital expenditures (capex) to PHP3 billion this year to support growth even amid the coronavirus disease 2019 (Covid-19). In a press briefing Thursday, D&L president Alvin Lao said this… Read More
PM receives US-ASEAN Business Council delegation
March 5, 2020, 7:43 pm
HÀ NỘI -- Prime Minister Nguyễn Xuân Phúc hosted a reception here on Wednesday for a delegation of the US-ASEAN Business Council (US-ABC) led by its President and CEO Alex Feldman. PM Phúc said he was delighted to find out that the US Centre for Disease Control and Prevention had recently… Read More
Gov’t needs to be vigilant vs. risks to inflation outlook: NEDA
March 5, 2020, 7:07 pm
MANILA – The government needs to remain vigilant and well-positioned against possible risks to inflation in the country, the National Economic and Development Authority (NEDA). Headline inflation eased to 2.6 percent last month, lower than the 2.9 percent recorded in the previous month and the… Read More
Imported vehicle sales down by 16.2% in January
March 5, 2020, 7:04 pm
MANILA – A total of 5,433 imported vehicles were sold in the country in the first month of the year, the Association of Vehicle Importers and Distributors (AVID) reported Thursday. AVID’s sales in January this year was 16.2 percent lower than its sales in January 2019 at 6,482 units. All… Read More
