Business
Peso improves, stocks slip amid Covid-19
February 12, 2020, 7:36 pm
MANILA -- Signs of the slowdown of coronavirus disease 2019 (Covid-19) cases in China lifted investors’ sentiments and strengthened the Philippine peso, but anxieties on the virus’ impact weakened the main stocks index Wednesday. The local currency ended the day’s trade at 50.57 to the US… Read More
PH marks higher score in US Chamber’s intellectual property index
February 12, 2020, 6:53 pm
MANILA -- The Philippines improved its score in the United States Chamber of Commerce’s (USCC) 2020 International Intellectual Property Index, which evaluates intellectual property framework of 53 economies worldwide. Ranking 37th out of 53 economies, the Philippines scored 39.94 percent in the… Read More
1st PH Fintech Festival set in May
February 12, 2020, 6:19 pm
MANILA -- Government agencies, stakeholders, startups, and individuals interested in technology will convene at the first Philippine Fintech Festival on May 20-21 in Taguig City. "The goal is to become a catalyst to tech-up the Philippines. How to be a catalyst? We are hoping that we could teach… Read More
Credit rating upgrade crucial to inclusive growth bid: Dominguez
February 11, 2020, 10:36 pm
MANILA – Finance Secretary Carlos Dominguez III on Tuesday said authorities are hopeful for the achievement of A-level credit ratings for the Philippines, citing its impact on investments, domestic expansion, and job creation. In a Viber message to journalists in reaction to Fitch Rating’s… Read More
Fitch Ratings outlook revision on PH welcome dev't
February 11, 2020, 10:31 pm
MANILA -- An economist of ING Bank Manila dubbed as a welcome development Fitch Rating’s upgrade of its outlook on the Philippines’ credit rating from “stable” to “positive” on account of the sustained improvement of macroeconomic policies. In a statement, ING Bank Manila senior… Read More
Fitch Ratings revises outlook on PH credit rating to ‘positive’
February 11, 2020, 8:39 pm
MANILA – Fitch Ratings on Tuesday revised upward from “stable” to “positive” its outlook on the Philippines’ ‘BBB’ credit rating, as it expects continued implementation of sound macroeconomic policies. In a statement, the credit rater said the sound macroeconomic policy framework… Read More
Trade chief welcomes record-high exports in 2019
February 11, 2020, 7:27 pm
MANILA -- Department of Trade and Industry (DTI) Secretary Ramon Lopez has welcomed the record-high export revenue of the country in 2019. In a statement Tuesday, Lopez said the USD70-billion export revenue last year reflects the success of the government to expand productive capacity and export… Read More
OTOP generates P1.4-B sales in 2019
February 11, 2020, 7:20 pm
MANILA -- The Department of Trade and Industry’s (DTI) One Town, One Product (OTOP) Philippines has generated PHP1.41 billion worth of sales in 2019. In a statement Tuesday, the DTI said sales last year came from the 37 OTOP Philippines hubs or OTOP.Ph nationwide. The OTOP is DTI’s stimulus… Read More
Peso, stocks up on risk-on sentiments
February 11, 2020, 6:09 pm
MANILA -- Risk-on sentiments continue to buoy the peso and the local stocks despite the anxiety over the novel coronavirus (2019-nCoV). The local currency ended the day’s trade at 50.695 from 50.78 on Monday. A trader attributed the day’s gain to “broadly positive risk sentiment” not just… Read More
DTI secures more supply of N-88 masks
February 11, 2020, 5:25 pm
MANILA -- The Department of Trade and Industry (DTI) received the partial supply of N88 surgical masks from Medtecs, the lone local manufacturer based in Bataan. With the assistance of Philippine International Trading Corporation (PITC), 125,000 pieces of N88 masks were procured, 70,000 pieces of… Read More
IMF exec projects PH Q1 ’20 GDP above 6%
February 11, 2020, 4:19 pm
MANILA -- An executive of the International Monetary Fund (IMF) has forecast the Philippine economy to expand by 6.3 percent in the first quarter of the year despite the impact of the novel coronavirus (2019-nCoV). In a briefing on Tuesday, IMF Resident Representative to the Philippines Yongzheng… Read More
PH T-bill rates decline across-the-board
February 10, 2020, 9:09 pm
MANILA -- Average rates of all the three tenors of the Philippine government-issued treasury bills (T-bills) fell Monday following last week’s reduction of the Bangko Sentral ng Pilipinas (BSP) key policy rates. Rate of the 91-day T-bill dropped to 3.115 percent from 3.187 percent during the… Read More
Slight dent on W. Visayas economy seen from higher inflation
February 10, 2020, 8:24 pm
BACOLOD CITY -- The higher inflation in Western Visayas in January has a “very minimal effect” on the overall economy of the region, a business leader here said on Monday. Frank Carbon, chief executive officer of Metro Bacolod Chamber of Commerce and Industry (MBCCI), said the one-percent… Read More
Peso ends sideways, stocks snap 4-day rally
February 10, 2020, 7:12 pm
MANILA -- The peso managed to close Monday sideways against the US dollar while the Philippine Stock Exchange index (PSEi) ended its four-day rally still on concerns on the new coronavirus. The local currency finished the week’s first trading day at 50.78 from 50.755 Friday last week. It opened… Read More
IMF reform proposals to help PH achieve A-level credit rating
February 10, 2020, 7:08 pm
MANILA -- The Philippines’ bid towards an A-level credit rating is expected to get a lift from the International Monetary Fund's (IMF) recommendations for greater competition, foreign direct investments (FDIs) policies, and enhanced public investment management. RCBC chief economist Michael… Read More
PEZA wants Mactan ecozone expansion
February 10, 2020, 6:14 pm
MANILA -- The Philippine Economic Zone Authority (PEZA) aims to expand the Mactan Economic Zone (MEZ) in Cebu as many existing locators expressed their plans to grow their businesses. PEZA Director General Charito Plaza told reporters that the agency targets to bolster the ecozone to another… Read More
Pangasinan gets P9-M shared service facilities in 2019
February 10, 2020, 5:33 pm
DAGUPAN CITY -- The Department of Trade and Industry (DTI) turned over a total of PHP9.13 million worth of equipment under the shared service facilities (SSF) project to cooperatives, groups, schools and local government units (LGU) in Pangasinan in 2019. “A cooperative in Alaminos City was… Read More
Oil firms cut prices this week
February 10, 2020, 3:51 pm
MANILA -- Oil companies announced another rollback on their prices –the fifth consecutive week for diesel and kerosene, while gasoline prices are down for four straight weeks. For this week, diesel prices are down by PHP0.60 per liter, gasoline by PHP0.30 per liter, and kerosene by PHP1.40 per… Read More
Number of businesses in Pangasinan up by 25%
February 9, 2020, 5:33 pm
DAGUPAN CITY -- The Department of Trade and Industry (DTI) recorded a total of 14,931 registered businesses in Pangasinan in 2019, up by 25.16 percent from 11,930 in 2018. In an interview Friday, DTI-Pangasinan provincial director Natalia Dalaten said majority of them were in trading with 7,252… Read More
Green, sustainability bond markets poised for growth
February 9, 2020, 5:24 pm
MANILA -- The green and sustainability debt markets in the Philippines and other members of the Association of Southeast Asian Nations (Asean) are poised for growth with the necessary foundations for their development in place, an official of Securities and Exchange Commission (SEC) said. In a… Read More
