Business
A-level credit rating bid safe despite above-target deficit
March 3, 2020, 7:03 pm
MANILA – The Philippine government exceeded its deficit to gross domestic product (GDP) target for 2019 due to the catch-up spending program, but a ranking Department of Finance (DOF) official does not consider this as negative to the A-credit rating bid. In an economic bulletin released… Read More
Diokno hopeful on AMLA, HSA amendments
March 3, 2020, 5:03 pm
MANILA – Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno is confident of the approval of the proposed amendments in the Anti-Money Laundering Act (AMLA) to avert re-inclusion in the Financial Action Task Force’s (FATF) “gray” list. Diokno said there are windows of opportunity… Read More
Gov’t eyes measures to help sectors affected by Covid-19
March 3, 2020, 3:23 pm
MANILA – The Philippine government is finding ways to help sectors that will be heavily affected by the coronavirus outbreak in the event that its effect will be widespread, an official from the Department of Finance (DOF) said. In a forum in Makati City Tuesday, DOF Undersecretary Antonette… Read More
PH T-bill rates end mixed
March 2, 2020, 8:41 pm
MANILA — Rate of the Philippines’ treasury bills (T-bills) posted mixed results Monday, with demand for all tenors remaining strong. Average rate of the 91-day paper posted an uptick to 3.013 percent from 3.003 percent during the auction last February 24. The Bureau of the Treasury (BTr)… Read More
PAL reopens Manila-Pagadian-Manila route
March 2, 2020, 8:04 pm
PAGADIAN CITY, Zamboanga del Sur -- Department of Transportation (DOTr) Secretary Arthur Tugade and Philippine Airlines (PAL) president and Chief Operating Officer Gilbert Santa Maria led the inaugural flight Sunday as the country's flag carrier reopened its Manila-Pagadian-Manila route.Tugade… Read More
PH’s manufacturing score hits 13-month high in February
March 2, 2020, 7:36 pm
MANILA – The country’s manufacturing purchasing managers’ index (PMI) reached its 13-month high in February at 52.3, supported by resilient demands both domestically and abroad, the IHS Markit reported Monday. Manufacturing PMI in February was higher than the 52.1 score in January this year.… Read More
Gov't spending better than monetary stimulus vs. Covid-19
March 2, 2020, 7:28 pm
MANILA – Fiscal stimulus will be more effective than a monetary stimulus to date, to address any economic impact of the coronavirus disease 2019 (Covid-19) on the Philippine economy. This was pointed out by Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno Monday at the sidelines of the… Read More
Peso gains, stocks slip
March 2, 2020, 7:02 pm
MANILA — Anticipations of rate reductions by several central banks around the globe to counter any impact of the coronavirus disease 2019 (Covid-19) lifted currencies, including the Philippine peso, but the main stocks gauge ended in the red Monday. The local currency ended the week’s first… Read More
Big-time oil price rollback set this week
March 2, 2020, 6:52 pm
MANILA – Big-time price rollback for petroleum products has kicked off the first week of March. Starting Tuesday, oil firms will cut diesel prices by PHP1.60 per liter, kerosene by PHP1.65 per liter, and gasoline by PHP1.40 per liter. Prices of liquefied petroleum gas (LPG) also declined this… Read More
Firm eyes to buy Honda’s facility in Laguna: DTI
March 2, 2020, 8:10 am
MANILA – Trade Secretary Ramon Lopez said a company is interested to buy the manufacturing facility of Honda Cars Philippines, Inc. (HCPI) in Sta. Rosa, Laguna. Lopez told reporters at the sidelines of National Business One-Stop Shop launching on Friday the company that inquired about HCPI’s… Read More
PH to make first contribution to ADB grant fund
March 1, 2020, 5:17 pm
MANILA – The Philippines has announced that it is making its first-ever contribution to the grant fund of the Asian Development Bank (ADB) intended for the most vulnerable and least developed members of the Manila-based multilateral institution. The country's contribution to the Asian… Read More
SMEs urged to comply with quality standards
February 29, 2020, 7:19 pm
MANILA – Small and medium enterprises (SMEs) owners and managers in the export industry are encouraged to comply with regulatory requirements and quality standards and adapt to changing market conditions and preferences to boost sales. A research paper series published by the Philippine… Read More
Over 50% property seekers prefer owning house: poll
February 29, 2020, 11:51 am
MANILA – The real estate industry in the Philippines has been consistently strong each year and a survey shows that between owning lands-- condominiums, and houses -- most property seekers still prefer buying a house. Colliers International Philippines, a real estate services organization, said… Read More
MORE Power starts takeover of PECO’s assets
February 28, 2020, 8:14 pm
ILOILO CITY – The MORE Electric and Power Corp. (MORE Power), which has been granted a 25-year franchise to distribute electricity in the city, began taking over the assets of the Panay Electric Company (PECO) on Friday. This, as the Iloilo City Regional Trial Court has served a writ of… Read More
Gov't spending key to address lower consumption due to Covid-19
February 28, 2020, 7:59 pm
MANILA – Government spending will be the key factor to ensure that domestic consumption remains strong amid fears brought by the threat of the coronavirus disease 2019 (Covid-19). In an interview by journalists Thursday night, BDO Chief Strategist Jonathan Ravelas said people go out less lately… Read More
UnionBank eyes Feb. inflation at 2.8%
February 28, 2020, 6:36 pm
MANILA – Economists of Union Bank of the Philippines (UnionBank) are considering the slowdown of February inflation rate to 2.8 percent due to lower food pressures and the impact of the coronavirus disease (Covid-19) on people’s spending. This forecast is lower than the 2.9 percent inflation… Read More
PH stocks, peso weaken still due to Covid-19
February 28, 2020, 5:58 pm
MANILA – Philippine stocks ended the week in negative territory and the peso weakened still due to concerns over the continued rise of coronavirus disease 2019 (Covid-19) cases around the globe. The Philippine Stock Exchange index (PSEi) slipped further to 6,787.91 points, down 2.58 percent or… Read More
February inflation rate seen between 2.4-3.2%
February 28, 2020, 5:47 pm
MANILA – Philippine monetary officials project the February inflation rate to range between 2.4 percent and 3.2 percent, with the high end of the projection higher than last January’s 2.9 percent. In a statement Friday, the Bangko Sentral ng Pilipinas (BSP) said its Department of Economic… Read More
PH biz one-stop shop now online
February 28, 2020, 5:34 pm
MANILA – The Philippine government launched on Friday the National Business One-Stop Shop (NBOSS) at the Securities and Exchange Commission (SEC) that integrates processes of different agencies in one location for one-person corporation applicants. NBOSS is a physical co-location for agencies… Read More
Diokno confident of 6% PH growth despite Covid-19
February 27, 2020, 8:18 pm
MANILA – Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno remains optimistic of a 6-percent economic growth this year despite the impact of the coronavirus disease 2019 (Covid-19). In a briefing Thursday, Diokno said the country remains less affected by the epidemic despite the rise of… Read More
