Business
Stocks, peso rise on hopes for US stimulus vs. Covid-19
February 27, 2020, 7:29 pm
MANILA – Expectations for a stimulus from the US government to counter the impact of the coronavirus disease 2019 (Covid-19) lifted investment sentiment, boosting both the Philippine peso and the local bourse. The local currency ended the day at 50.815 from 51.035 a day ago, which BPI Research… Read More
How to save more on electricity this summer
February 27, 2020, 7:08 pm
MANILA – Filipinos expect higher temperature in the coming months, which also means higher demand for power and rising electricity bills. Although the Department of Energy (DOE) said its action plan to block the possibility of an extremely tight power supply in early-summer was successful,… Read More
Diokno keen on over 50 bps key rate cut due to Covid-19
February 27, 2020, 7:03 pm
MANILA -- Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno is open for the implementation of additional key rate cuts on banks’ reserve requirements if the situation calls for it amid the impact of the coronavirus disease 2019 (Covid-19). In a briefing Thursday, Diokno said he is… Read More
Sin taxes to help Filipinos live long, healthy lives
February 27, 2020, 5:33 pm
MANILA – The National Economic and Development Authority (NEDA) welcomed the enactment of Republic Act 11467 which will increase excise taxes on alcohol products, electronic cigarettes (e-cigarettes) and heated tobacco products (HTPs). The salient feature of the law will split excise tax… Read More
P4-B investment awaits Bataan town
February 26, 2020, 7:58 pm
PILAR, Bataan – More than PHP4 billion of investment is ready to flow into this historic town under an expansion program of the Freeport Area of Bataan (FAB). Mayor Carlos Pizarro Jr. on Tuesday said clearing has started in the three seaside villages here where the project, tentatively named… Read More
BSP's term facilities register another rate drop
February 26, 2020, 7:31 pm
MANILA – The rates of the Bangko Sentral ng Pilipinas’ (BSP) term facilities fell anew this week. BSP data released Wednesday showed that the average rate of the seven-day term deposit facility (TDF) slipped to 3.8250 percent from 3.8301 percent during the auction last February 19. BSP offered… Read More
Stocks, peso slip anew as Covid-19 cases rise further
February 26, 2020, 7:27 pm
MANILA – Both the main stocks index, which fell to 6,900-level, and the peso weakened Wednesday due to reports of additional cases of the coronavirus disease 2019 (Covid-19) in more countries. The Philippine Stock Exchange index (PSEi) ended to its lowest level for the year at 6,909.84 points,… Read More
Farmers urged to plant soybean to meet high export demand
February 26, 2020, 6:24 pm
CABANATUAN CITY, Nueva Ecija – The Department of Agriculture (DA) has encouraged farmers to plant edamame or young soybean, citing its fast-growing demand in the export market. DA Secretary William Dar said edamame is the best alternative high-value crop from which farmers can earn high income.… Read More
Global uncertainties cause firms to shut down: DTI chief
February 26, 2020, 5:55 pm
MANILA – Trade Secretary Ramon Lopez sees uncertainties in the global market as the main reason that pushed multinational companies to shut down, or slow down their operations in the country. In an interview Monday evening, Lopez cited that among the uncertainties globally that drive these… Read More
Covid-19 to affect PH peso: DBS Group
February 26, 2020, 5:49 pm
MANILA – A research by DBS Group projects the Philippine peso to breach the 50.3-51.1 to a US dollar range it has been trading since October 2019 as a result of the impact of the coronavirus disease 2019 (Covid-19). In the Asian part of its report titled “FX: A tale of two halves on… Read More
Google, DTI partner to digitize MSMEs
February 26, 2020, 5:25 pm
MANILA – Google Philippines and the Department of Trade and Industry (DTI) launched Wednesday the MSME Caravan to encourage micro, small, and medium enterprises (MSMEs) to use digital tools to grow their businesses. Under the Grow with Google program, the MSME Caravan will be conducted… Read More
Covid-19 outbreak delays 2 solar projects
February 25, 2020, 3:00 pm
MANILA – Meralco PowerGen Corp. (MGen) is delaying the commissioning of two solar projects in the latter part of the year, its president and chief executive officer Rogelio Singson said on Monday. In Manila Electric Company’s (Meralco) media briefing, Singson said these solar projects are in… Read More
JoyRide to join online food delivery market
February 24, 2020, 8:49 pm
MANILA – Motorcycle-taxi company JoyRide is set to join the country’s food-delivery space, throwing in a Filipino hat in the foreign-dominated food delivery ring. In a statement on Monday, Noli Eala, JoyRide’s vice president for corporate affairs, said since its pilot testing last December,… Read More
PH T-bill rates down anew
February 24, 2020, 8:11 pm
MANILA -- Rates of the Philippines treasury bills (T-bills) slid across-the-board Monday still on expectations of another cut in the Bangko Sentral ng Pilipinas’ (BSP) policy rates. Average rate of the 91-day paper declined to 3.003 percent from 3.072 percent during the auction last February 17.… Read More
‘A’ credit rating for PH likely with passage of CITIRA, PIFITA
February 24, 2020, 8:09 pm
MANILA – An economist of Philippine National Bank (PNB) expects an upgrade to A-level of the country’s credit rating once legislators approve the remaining tax reform measures. “The likelihood of reform implementation by government/Congress with favorable and lasting credit effects… Read More
PH stocks slip, peso remains firm
February 24, 2020, 8:04 pm
MANILA – Philippines’ main stocks index fell more than 2 percent Monday mainly due to reports about the continued rise of coronavirus disease 2019 (Covid-19), but the peso was able to move sideways despite the risk-off sentiment. The Philippine Stock Exchange index (PSEi) shed 2.47 percent, or… Read More
Another round of oil price hike takes effect Tuesday
February 24, 2020, 12:55 pm
MANILA -- Oil players are scheduled to impose another round of price adjustments this week. They will implement an increase of PHP0.20 per liter on diesel prices, PHP0.30 per liter on gasoline prices, and PHP0.35 per liter on kerosene prices. The price adjustment will take effect on Tuesday for… Read More
PSALM runs after IPPAs for P33.6-B unpaid accounts
February 23, 2020, 6:04 pm
MANILA — The Power Sector Assets and Liabilities Management Corp. (PSALM) will continue its vigorous collection efforts to go after Independent Power Producer Administrators (IPPAs) with delinquent accounts totaling a whopping PHP33.62 billion following instructions from Finance Secretary Carlos… Read More
Measures to help local vehicle assemblers eyed
February 23, 2020, 2:38 pm
MANILA -- Introducing other measures to support local vehicle manufacturers is being eyed after Honda Cars Philippines, Inc. (HCPI) announced to close its operation in the Philippines next month. “We really have to study the need to impose safeguard duty and other measures to provide at least a… Read More
DOE measures block early-summer red alert risk in Luzon grid
February 21, 2020, 7:57 pm
MANILA – The action plan rolled out by the Department of Energy (DOE) has blocked the potential extremely tight power supply in Luzon during the early months of summer, Electric Power Industry Management Bureau Director Mario Marasigan said. In a press conference on Friday, Marasigan said the… Read More
