Business
DTI sees minimal impact of nCoV on PH trade, economy
February 8, 2020, 9:19 am
MANILA -- Trade Secretary Ramon Lopez said Friday the impact of the novel coronavirus (2019-nCoV) in the country’s trade and economic performance is minimal. In a text message to reporters, Lopez said the country’s overall trade with the province of Hubei, ground zero of the 2019-nCoV, is only… Read More
Shopee to remove overpriced face masks from online store
February 7, 2020, 8:44 pm
MANILA -- Online shopping company, Shopee has committed to working closely with the Department of Trade and Industry (DTI) to remove all overpriced offers of N95 and N88 masks from its platform, an official said on Friday. “We commend Shopee for immediately heeding our call. The cooperation of… Read More
BSP rate hike expectations lift PSEi, peso Friday
February 7, 2020, 8:27 pm
MANILA -- Expectations for another hike in the Bangko Sentral ng Pilipinas’ (BSP) key policy rates buoyed both the main equities index and the peso on Friday. The Philippine Stock Exchange index (PSEi) was able to rise by 0.009 percent, or 0.69 points, to 7,507.20 points, which BPI Research… Read More
Finance execs optimistic of higher revenues due to fuel marking
February 7, 2020, 8:22 pm
MANILA -- At least PHP20 billion is expected to be added to the government’s revenues this year on account of the fuel marking implementation, Finance Secretary Carlos Dominguez III said on Friday. In a briefing at the sidelines of the Bureau of Customs (BOC) 118th anniversary celebration,… Read More
Excise tax seen to boost BOC-Dumaguete's P5.7-B revenue target
February 7, 2020, 7:57 pm
DUMAGUETE CITY – The Bureau of Customs (BOC) here is optimistic it will reach or even exceed its target revenue collection for this year with the increase in the government’s excise taxes, an official said on Thursday. “With the second implementation of the TRAIN (Tax Reform for Acceleration… Read More
PH Innovation Act IRR signed
February 7, 2020, 7:44 pm
MANILA -- Officials from the National Economic and Development Authority (NEDA), the Department of Trade and Industry (DTI), and the Department of Science and Technology (DOST) signed the implementing rules and regulations (IRR) of the Philippine Innovation Act (RA 11293) on Friday in Pasig City.… Read More
More BSP rate cuts seen in 2020 vis-à-vis growth, nCoV
February 7, 2020, 6:14 pm
MANILA -- Economists still see another cut in the Bangko Sentral ng Pilipinas’ (BSP) key policy rates this year after the 25 basis points reduction Thursday but said the next reduction depends on developments on the novel coronavirus (2019-nCoV), among others. In a report released Friday, Fitch… Read More
ARTA streamlines FDA, LGU checks on biz permits, license
February 7, 2020, 6:01 pm
MANILA -- The Anti-Red Tape Authority (ARTA) will implement streamlining of inspections by a local government unit (LGU) and the Food and Drug Administration (FDA) to speed up the processing of sanitary permits and License to Operate (LTO). ARTA Director-General Jeremiah Belgica met officials and… Read More
Stocks, peso end higher
February 6, 2020, 8:01 pm
MANILA -- Improved investors’ sentiment sustained the rise of the Philippine Stock Exchange index (PSEi) and also benefited the local currency Thursday. The PSEi rose 2.09 percent, or 153.66 points, to 7,506.51 points, which BPI Research attributed partly to hopes for cut in the Bangko Sentral… Read More
Victorias Milling invests over P200-M for industrial clean-up
February 6, 2020, 7:51 pm
BACOLOD CITY -- Negros Occidental-based sugar refiner Victorias Milling Company (VMC) has bared plans to invest more than PHP200 million in new structures and modern technological processes to address environmental concerns and ensure operational efficiency at a global standard. “We are taking… Read More
BSP cuts key rates by 25 bps
February 6, 2020, 7:27 pm
MANILA -- Philippine monetary officials on Thursday slashed the Bangko Sentral ng Pilipinas’ (BSP) key policy rates by 25 basis points as a pre-emptive move to support growth amid the negative external environment and some domestic issues. The reduction brought the central bank’s overnight… Read More
Impact of 2019-nCoV on PH's '20 growth seen minimal
February 6, 2020, 6:33 pm
MANILA -- The Philippine economic growth is forecast to decline an average 0.3 percentage points this year because of the novel coronavirus (2019-nCoV) outbreak. In an interview after the Management Association of the Philippines (MAP) event in Taguig City Thursday, Bangko Sentral ng Pilipinas… Read More
Mobile app seen to boost small businesses
February 5, 2020, 9:25 pm
MANILA -- Small and medium enterprises stand to benefit from a pioneering mobile app that will enable them to ship their goods and commodities around the country at cheaper shipping rates. Carga Backload Solution chief executive officer Samson Lato said they target 2,000 shipments a day that will… Read More
Term deposit rates mixed this week
February 5, 2020, 7:57 pm
MANILA – Rates of the Bangko Sentral ng Pilipinas’ (BSP) term deposit facility (TDF) ended mixed Wednesday, with undersubscription registered for the shortest tenor. Data released by the central bank showed that the rate of the seven-day facility rose to 4.0240 percent from 4.0233 percent… Read More
BSP seen to slash key rates starting this month
February 5, 2020, 7:17 pm
MANILA -- The Bangko Sentral ng Pilipinas (BSP) is projected to resume its easing cycle with a cut of 25 basis points on Thursday, as inflation remains within-target and global growth prospects are still bleak. Inflation posted an uptick to 2.9 percent last January, higher than market consensus of… Read More
Gov’t to remain vigilant vs. inflation risks
February 5, 2020, 7:15 pm
MANILA -- The government remains vigilant against risks to inflation outlook after consumer prices rose to an eight-month high of 2.9 percent in January 2020. The Philippine Statistics Authority (PSA) reported Wednesday that higher oil and food prices mainly pushed up the inflation rate to its… Read More
PSEi rises anew, peso weakens on higher inflation rate
February 5, 2020, 7:07 pm
MANILA -- Risk-on sentiment returned in the region and supported Philippine equities Wednesday but the peso weakened due to higher-than-expected inflation rate last January. The Philippine Stock Exchange index (PSEi) rose for the second consecutive day to 7,352.85 points, up by 1.74 percent, or… Read More
ARBs, Marsman agree to ‘win-win' solution on new lease deal
February 5, 2020, 6:54 pm
MANILA -- Some 622 agrarian reform beneficiaries (ARBs) and management of Marsman Estate Plantation Incorporated (MEPI) have agreed to sign a new lease contract which they call a "win-win" solution. "After almost two years of negotiations, we have finally reached an amicable arrangement with MEPI… Read More
Economist eyes within-target '20 PH inflation despite uptick
February 5, 2020, 6:37 pm
MANILA -- Several economists remain confident of within-target inflation rate for the Philippines this 2020 despite the higher-than-expected uptick in the January figure of 2.9 percent from last December’s 2.5 percent. Last month’s inflation rate is still at the lower half of the… Read More
Digital solutions crucial to spur manufacturing growth: NEDA
February 5, 2020, 4:34 pm
MANILA -- The government should continue supporting initiatives toward digital solutions in the private sector to boost manufacturing growth and bounce back from its decline in 2019, the National Economic and Development Authority (NEDA) said. The Philippine Statistics Authority (PSA) reported in… Read More
