Business
Slowdown in office space construction seen with POGO crackdown
February 21, 2020, 7:41 pm
MANILA – A slowdown in construction of new office buildings is seen this year with the government’s stricter measures on Philippine Offshore Gaming Operator (POGO) activities in the country, a real estate advisory firm’s executive said. In a forum of the German Chamber of Commerce of the… Read More
SMB set to hire 700 workers for Pangasinan town brewery
February 21, 2020, 7:23 pm
SAN FABIAN, Pangasinan -- Some 700 job vacancies were opened by the San Miguel Brewery Inc. (SMB) for residents of four districts of Pangasinan for its brewery being constructed in barangays Bolasi and Mabilao here. Pangasinan 4th district Rep. Christopher de Venecia, on his Facebook post on… Read More
Senate CITIRA version to remove investor uncertainty: DTI
February 21, 2020, 6:30 pm
MANILA -- Department of Trade and Industry (DTI) Secretary Ramon Lopez said the tax reform bill endorsed by the Senate Ways and Means Committee is a “well-balanced approach” to the corporate tax reform and helps remove the uncertainty of foreign investors. On February 19, Senator Pia Cayetano… Read More
DA sets SRP on agri products
February 21, 2020, 4:17 pm
MANILA -- The Department of Agriculture (DA) will be imposing a suggested retail price (SRP) for selected agriculture and fishery products to protect consumers against price irregularities in local markets. DA Secretary William Dar said under the Price Act, the DA is directed, whenever necessary,… Read More
BIR padlocks office of unregistered POGO licensee
February 21, 2020, 3:05 pm
MANILA — Authorities on Friday padlocked the office of a Philippine offshore gaming operator (POGO) licensee that was slapped with more than PHP114 million worth of penalties for failure to pay a 5-percent franchise tax for its 2019 revenues. A team from the Bureau of Internal Revenue’s (BIR)… Read More
Megawide P5-B corporate notes facility 1.5X oversubscribed
February 20, 2020, 9:10 pm
MANILA -- Diversified engineering and infrastructure conglomerate Megawide Construction Corporation Thursday signed a PHP5-billion corporate note (CN) facility, the proceeds of which it will use to retire maturing debt obligation, fund growth projects, and for general corporate purposes. The… Read More
DM Wenceslao nets P2.37-B in 2019
February 20, 2020, 8:49 pm
MANILA – DM Wenceslao & Associates, Inc. (DMW) on Thursday reported a 24-percent increase in net income to PHP2.37 billion in 2019 on strong revenue growth and focused cost management. Revenues grew 63 percent year on year to PHP3.51 billion, mainly driven by sales of land and condominium… Read More
Stocks rise anew, peso moves sideways
February 20, 2020, 6:44 pm
MANILA -- The Philippine Stock Exchange index (PSEi) rose for the second consecutive day on Thursday while the peso ended the day sideways on news about additional cases of the coronavirus disease 2019 (Covid-19) in South Korea. The main equities gauge rose 0.22 percent, or 16.06 points, to… Read More
BPI sets system maintenance on February 22
February 20, 2020, 6:17 pm
MANILA — Online platforms and automated cash handling machines of Ayala-led Bank of the Philippine Islands (BPI) will be unavailable on Saturday due to system maintenance. In an advisory, BPI said the systems maintenance activity will start from 12:01 a.m. until 11:59 p.m. Covered by the… Read More
Air cargo industry needs rapid cultural change, digitalization
February 20, 2020, 5:09 pm
MUMBAI, India and BLUE BELL, Pa – Unisys Corp. announced on Wednesday that its cargo industry director, Niranjan Navaratnarajah, will present at the Air Cargo India conference in Mumbai on February 26 and discuss why fundamental cultural change is essential for the air cargo industry to remain… Read More
DOE concludes Phase 1 of Gas Policy Development Project
February 20, 2020, 3:16 pm
MANILA -- The Department of Energy (DOE) concluded the first phase of the Gas Policy Development Project (GPDP-1) on Thursday with four deliverable documents handed over to the DOE. DOE Secretary Alfonso Cusi received four documents completed under GPDP-1 namely: The Philippine Downstream Natural… Read More
RCBC exec eyes double-digit income growth this year
February 20, 2020, 3:10 pm
MANILA – A ranking official of Rizal Commercial Banking Corporation (RCBC) remains confident of another double-digit income growth this year despite volatilities, citing that consumer demand remains strong. In a briefing Thursday, RCBC treasury head Horacio Cebrero said among the risks that… Read More
NegOcc gears up to expand cattle industry
February 20, 2020, 2:38 pm
BACOLOD CITY – The Negros Occidental provincial government has tapped the expertise of a homegrown farmer to develop a local beef brand and position the province as the cattle production center in the Visayas. Luis Francisco Martin, both a cattle raiser and a sugarcane planter, will act as the… Read More
SMC hopeful of resolution of MRT Quezon Memorial station row
February 20, 2020, 12:40 pm
MANILA -- Following the issuance of a “cease and desist order” by the Quezon City government on the construction of the Quezon Memorial Circle station of the Metro Rail Transit Line 7 (MRT-7) project, concession holder San Miguel Corporation (SMC) Wednesday said it is hopeful that the… Read More
Pru Life UK introduces health management mobile app
February 19, 2020, 9:11 pm
MANILA -- Filipinos now have more options for health management as Pru Life UK introduced its all-in-one digital app, Pulse. In a briefing Wednesday, Pru Life UK president and chief executive officer Antonio de Rosas said the mobile app is not meant to replace medical practitioners but to aid… Read More
Finance chief optimistic on CITIRA passage by March
February 19, 2020, 8:42 pm
MANILA – Finance Secretary Carlos Dominguez III said on Wednesday he remains optimistic that lawmakers will approve Senate Bill (SB) No. 1357 or the proposed Corporate Income Tax and Incentives Rationalization Act (CITIRA) by March. Dominguez said “another seven weeks (of waiting) won’t… Read More
DTI wants EU GSP+ utilization rate at 80%
February 19, 2020, 8:10 pm
MANILA -- Department of Trade and Industry (DTI) Secretary Ramon Lopez targets to raise the country’s utilization rate of European Union Generalised Scheme of Preference Plus (EU GSP+) to 80 percent. Lopez said the DTI has been conducting activities like doing business and free trade agreement… Read More
Peso, stocks up on Chinese measures vs. Covid-19 fallout
February 19, 2020, 7:48 pm
MANILA -- The Philippine peso and the main stocks index ended higher Wednesday on news that the Chinese government will implement several measures to help lift its economy from the effect of the coronavirus disease 2019 (Covid-19). The local currency finished the day at 50.54 from its 50.645 close… Read More
Vehicle sales fall 11.8% in Jan. 2020
February 19, 2020, 7:25 pm
MANILA -- Automotive sales registered negative growth in the first month of the year amid the Taal Volcano eruption. The Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) reported Tuesday that January 2020 sales declined by 11.8 percent to 23,723 units from 26,888 units a year… Read More
PH imports from China down 62% in first half of February
February 19, 2020, 6:28 pm
MANILA -- Shipments from China registered marked decline in the first 15 days of February 2020 on account of the lower production and deliveries amid the coronavirus disease 2019 (Covid-19). Data released by Finance Secretary Carlos Dominguez IIII to journalists on Wednesday showed that the number… Read More
