Business
PH T-bill rates decline
February 17, 2020, 6:30 pm
MANILA -- Rates of the Philippines Treasury bills (T-bills) dropped across-the-board Monday partly on concerns on the coronavirus disease 2019 (Covid-19) and expectations for another cut in the Bangko Sentral ng Pilipinas’ (BSP) key rates. Average rate of the 91-day paper fell to 3.072 percent… Read More
ORCA opens PH first world-class, fully automated cold storage
February 17, 2020, 6:22 pm
MANILA -- ORCA Cold Chain Solutions, a pioneering company aimed at introducing technology and innovation to the supply chain management industry, recently inaugurated the Philippines’ first-ever fully automated cold storage facility in Bagumbayan, Taguig City. Cold chain is vital for food… Read More
Stocks rise, peso flat amid Covid-19 concerns
February 17, 2020, 6:19 pm
MANILA -- Concerns on the coronavirus disease 2019 (Covid-19) continue to affect trading in the Philippine financial market but local stocks and the peso both managed to end Monday on a positive note. The Philippine Stock Exchange index (PSEi) rose 0.62 percent, or 44.85 points, to 7,326.85… Read More
Gas prices up, diesel and kerosene down
February 17, 2020, 4:28 pm
MANILA -- Oil companies announced price adjustments on their products this week. Gasoline prices are up this week by PHP0.35 per liter after four straight weeks of rollback. Diesel and kerosene prices continue to go down this week, as oil players cut PHP0.10 per liter for both fuel products. This… Read More
AGI aims to be carbon neutral, create 5-M jobs by 2030
February 17, 2020, 4:23 pm
MANILA -- Conglomerate Alliance Global Group, Inc. (AGI) of tycoon Dr. Andrew Tan has committed to be carbon neutral and to generate at least 5 million direct and indirect jobs by 2030, as part of its contribution to the United Nations Sustainable Development Goals (UN SDG). The companies under… Read More
Gov’t confident of infrastructure momentum: NEDA
February 17, 2020, 2:49 pm
MANILA -- The National Economic and Development Authority (NEDA) is confident the government will sustain its infrastructure undertaking momentum as it continues to make definite progress in the different phases of project processing. “Since the start of the current administration, the NEDA… Read More
Planned 50 bps cut in BSP rates this ’20 enough for now: Diokno
February 14, 2020, 8:29 pm
MANILA – A 50-basis-point reduction in the Bangko Sentral ng Pilipinas’ (BSP) key policy rates is enough for this year so far vis-à-vis the projected impact of the coronavirus disease 2019 (Covid-19), BSP Governor Benjamin Diokno said Friday. In a press briefing, Diokno said that based on… Read More
COVID-19 continues to affect PH peso, stocks
February 14, 2020, 7:48 pm
MANILA – The Philippine peso ended the week sideways against the US dollar but the main stocks index ended on the red still due to concerns on the novel coronavirus 2019 (Covid-19), among others. The local currency finished the trade at 50.56 from 50.50 Thursday, which BPI Research attributed… Read More
BIR e-payments revenues receive boost
February 14, 2020, 7:30 pm
MANILA -- The Bureau of Internal Revenue (BIR) collections paid through electronic channels are seen to further rise from about 84 percent in 2019 after the bureau tapped another digital financial services firm, PayMaya. In an interview after the launch of the BIR-PayMaya partnership on Friday,… Read More
PH ranks no. 22 in emerging markets logistics index
February 14, 2020, 4:29 pm
MANILA -- The Philippines still has some ways to go as it is currently no.22 in the Agility Emerging Markets Logistics Index 2020's overall ranking, slightly above the halfway mark among the 50 most promising emerging logistics markets, down two points from a year ago. The Top 10 emerging… Read More
SEC approves SM Prime’s P100-B bond program
February 13, 2020, 9:34 pm
MANILA -- The Securities and Exchange Commission (SEC) has given SM Prime Holdings, Inc. the go-signal to issue debt securities worth P100 billion under a shelf registration. In its meeting on Tuesday, the Commission En Banc rendered effective SM Prime’s registration statement and approved the… Read More
Auctions seen to bring $20-B investments, lower RE costs in PH
February 13, 2020, 9:10 pm
MANILA -- A report from Institute for Energy Economics and Financial Analysis (IEEFA) shows that the Philippines could attract USD20-billion investments in renewable energy over the next decade through auctions while it will also lower the cost for consumers and industries. As the government will… Read More
ANZ Research keeps 6.2% GDP '20 forecast for PH for now
February 13, 2020, 8:59 pm
MANILA – ANZ Research has maintained its 6.2-percent growth forecast for the Philippine economy this year, pending incoming data for the first quarter vis-à-vis the impact of the coronavirus disease 2019 (Covid-19). In a report, the research unit of the Melbourne-headquartered investment bank… Read More
Covid-19 seen to slow PH economic growth
February 13, 2020, 7:49 pm
MANILA – The Philippine economy is projected to weaken to about 5.8 percent this year, lower than last year’s 5.9 percent output if the new coronavirus disease (Covid-19) outbreak lasts for around six months. A report by Union Bank of the Philippines’ (UnionBank) Economic Research Unit (ERU)… Read More
Peso, stocks sustain gains
February 13, 2020, 7:13 pm
MANILA -- Both the Philippine peso and the main stocks index ended on positive territories on Thursday despite uncertainties on the possible economic impact of the new coronavirus disease 2019 (Covid-19). The local currency ended the day sideways at 50.5 against the US dollar from its 50.57 close… Read More
Gov’t urged to ease customs procedures for imported face masks
February 13, 2020, 6:12 pm
MANILA -- Consumer advocate Laban Konsyumer Inc. (LKI) has proposed easing customs procedures for imported face masks to lower its prices amid rising demand for the product due to the current coronavirus disease 2019 (Covid-19). In a text message Thursday, LKI President Victorio Mario Dimagiba… Read More
NegOcc animal raisers seen to benefit from agri SRPs
February 13, 2020, 5:53 pm
BACOLOD CITY -- Animal raisers in Negros Occidental are set to benefit from the proposed suggested retail prices (SRPs) for agriculture products such as chicken and fish. Soon, the Department of Agriculture (DA) is expected to start implementing SRPs for agricultural products amid the continued… Read More
Authorities study fintechs' part on financial inclusion
February 12, 2020, 9:34 pm
MANILA -- A Bangko Sentral ng Pilipinas (BSP) official has raised the need to check on whether financial technology (fintech) firms can really boost financial inclusion in the Philippines, citing the large number of Filipinos who remain unbanked. In her speech during the media launch of the… Read More
BSP term deposit facility rates fall
February 12, 2020, 9:03 pm
MANILA -- Interest rates of the Bangko Sentral ng Pilipinas’ (BSP) term facilities declined across-the-board Wednesday, with undersubscription posted by the shortest tenor. Data released by the central bank showed that average rate of the seven-day facility fell to 3.8943 percent from 4.0197… Read More
Covid-19 outbreak, China slowdown to hit Asean+3 economies
February 12, 2020, 8:22 pm
MANILA – The Asean+3 Macroeconomic Research Office (AMRO) expects the coronavirus outbreak that has slowed down the Chinese economy to also impact the gross domestic product (GDP) of the 10 member states of the Association of Southeast Asian Nations (Asean) and China, including Hong Kong, Japan,… Read More
