Business
PH exports to lose $300M due to Covid-19
March 5, 2020, 6:13 pm
MANILA – The Philippines is expected to lose USD300 million in export revenues as the coronavirus disease 2019 (Covid-19) slowed down China’s exports in intermediate inputs, a study published by United Nations Conference on Trade and Development (UNCTAD) showed. According to the UNCTAD study,… Read More
Manufacturing output declines in January
March 5, 2020, 5:56 pm
MANILA – Concerns over coronavirus disease (Covid-2019) affecting tourism and travel activities in the country could dampen production of consumer-related manufactures, such as food and beverages, the National Economic and Development Authority (NEDA) said. The Philippine Statistics Authority… Read More
Maxus remains optimistic in PH market
March 5, 2020, 5:39 pm
MANILA – Maxus Philippines is still confident in the Philippine market as it targets to sell a thousand units of vehicles this year amid threats of the coronavirus disease 2019 (Covid-19), and as the government considers to impose a safeguard measure on imported vehicles, its executive told… Read More
Drop of February inflation to 2.6% within expectations
March 5, 2020, 4:50 pm
MANILA – Rate of price increases in the Philippines decelerated to 2.6 percent last February from month-ago's 2.9 percent, and the Bangko Sentral ng Pilpinas (BSP) said this is expected as it sees full-year average to hit 3 percent. Last month’s inflation rate is also within the BSP’s… Read More
PH inflation slows to 2.6% in February
March 5, 2020, 1:11 pm
MANILA – The country’s inflation rate slowed down to 2.6 percent in February, from previous month’s 2.9 percent on the back of cheaper food, electricity and fuel costs. January’s figure brought the average inflation rate to 2.8 percent in the first two months of the year. “The main… Read More
Coronavirus pushes Brent oil to lowest in 31 months
March 4, 2020, 9:49 pm
ANKARA -- The coronavirus epidemic has pushed the price of Brent crude on Monday to its lowest in 31 months and on the same week that investors await the critical OPEC meeting that will be held in Vienna, Austria on Thursday. International benchmark Brent crude fell as low as USD48.40 per barrel… Read More
CITIRA to keep PH highly competitive in Asean
March 4, 2020, 9:18 pm
MANILA -- The Department of Finance (DOF) said the proposed incentives regime under Senate Bill (SB) No. 1357, or the Corporate Income Tax and Incentives Reform Act (CITIRA), once approved by the Congress, will keep the Philippines highly competitive compared with other countries in the… Read More
Bizman says PH food industry abuzz
March 4, 2020, 9:08 pm
MANILA – Some business players in the Philippines have had a “push and pull” experience with luck as the Department of Finance implements the tax reform. But the food and beverage (F&B) industry in the country proves unshaken with its business expansion foresight. In an interview, Hubert… Read More
BPI exec cites PH's REIT potential
March 4, 2020, 7:58 pm
MANILA – An official of the Ayala-led Bank of the Philippine Islands (BPI) said he is optimistic about the Real Estate Investment Trust (REIT) in the country, noting that among the main goals of Filipinos is to have a real estate investment. In a briefing on Wednesday, BPI Corporate Banking… Read More
Stocks rise, peso sideways after Fed rate cut
March 4, 2020, 7:32 pm
MANILA – Risk sentiment further improved Wednesday that resulted in the rise of Philippine main stocks gauge and the sideways close of the peso following the 50-basis-point reduction in the Federal Reserve’s key rates. The Philippine Stock Exchange index (PSEi) rose 1.13 percent, or 76.72… Read More
DBM exec cites budget proposal challenges ahead of '22 polls
March 4, 2020, 6:44 pm
MANILA – A Department of Budget and Management (DBM) executive said formulating the proposed 2021 national budget will be challenging because 2022 is an election year, but said they will do everything to avert any problem. DBM Undersecretary Janet Abuel told journalists Tuesday afternoon that… Read More
PH, WB execs in talks for loan aid, Covid-19 measures
March 4, 2020, 6:39 pm
MANILA – Philippine finance officials are now in discussions for possible loan assistance from multilateral agencies for measures targeted to address any coronavirus disease 2019 (Covid-19) emergencies. “(The) announcement by the WB (World Bank) is certainly welcomed,” Finance Secretary… Read More
Covid-19 slowing down Asean-China trade, tourism
March 4, 2020, 5:11 pm
MANILA – The coronavirus disease 2019 (Covid-19) is slowing down trade and tourism between Asean and China, IHS Markit Chief Economist for Asia Pacific Rajiv Biswas said in an e-mail. Biswas said the manufacturing output of Asean countries particularly Singapore, Malaysia, Thailand, and Vietnam,… Read More
G7 set to tackle coronavirus' impact on global economy
March 4, 2020, 5:01 pm
ISTANBUL – The countries of the G7 bloc are ready to take measures to stem the coronavirus outbreak's potential effects on the global economy, the US Treasury said on Tuesday. The statement came out of a teleconference of finance ministers and central bank governors of the G7 countries –… Read More
Term deposit rates down this week
March 4, 2020, 3:45 pm
MANILA – Rates of all tenors of Bangko Sentral ng Pilipinas’ (BSP) term deposit facility (TDF) dropped Wednesday but bids registered mixed results. BSP data released Wednesday showed that average rate of the seven-day facility slipped to 3.7821 percent from 3.8250 percent during the auction… Read More
PH maintains positive growth in exports amid Covid-19 threat
March 4, 2020, 3:11 pm
MANILA – Despite the coronavirus disease (Covid-19) global outbreak, Trade Secretary Ramon Lopez on Wednesday said the Philippines is still expected to maintain a positive export performance this year. In a press briefing in Malacañang, Lopez said exports covering goods and services would… Read More
ASYA’s Day One, Citicore partner for green initiatives
March 3, 2020, 8:22 pm
MANILA – Architectural design firm ASYA Design, through its property management unit Day One, has made the switch to 100-percent renewable energy (RE) through its partnership with renewable energy company Citicore. Albert Yu, chairman of ASYA and Day One, said the shift to RE will help real… Read More
Stocks recover on global efforts vs. Covid-19; peso slips
March 3, 2020, 8:18 pm
MANILA – News about global efforts to address the impact of coronavirus disease 2019 (Covid-19) lifted investors sentiment and benefited Philippines’ main stocks gauge Tuesday, but the peso ended the day sideways against the greenback. After two days of decline, the Philippine Stock Exchange… Read More
Hyundai sales in PH drop 27.6% in January
March 3, 2020, 7:10 pm
MANILA – Hyundai Asia Resources Inc. (HARI), the official distributor of Korean car Hyundai in the Philippines, registered a 27.6-percent decline in its sales in January this year. HARI reported that its vehicle sales dropped to 2,045 units in January from 2,825 units in the same month last… Read More
CIMB Bank Philippines Inc. eyes 4M clients this '20
March 3, 2020, 7:07 pm
MANILA – Officials of CIMB Bank Philippines Inc. are confident of replicating their feat within the first year of operations in the country of attracting about two million customers as of February this year, and hitting about four million by end-2020. “We will work for three million but will… Read More
