Business
Grab’s personal data processing system halted
February 5, 2020, 4:22 pm
MANILA -- The National Privacy Commission (NPC) served a cease and desist order (CDO) to three personal data processing systems of Grab Philippines, Inc., including the selfie verification, the pilot test of in-vehicle audio recording, and in-vehicle video recording. In a statement, the NPC said… Read More
PH inflation soars to 2.9% in January due to higher oil prices
February 5, 2020, 12:23 pm
MANILA -- Higher oil and food prices mainly pushed up the country’s inflation rate to 2.9 percent in January, its fastest in eight months since June 2019. The annual rate was 2.5 percent in December 2019, and at 4.4 percent in January 2019. In a press briefing Wednesday, Philippine Statistics… Read More
Gov't sells P310.8-B retail treasury bond
February 4, 2020, 8:46 pm
MANILA -- The Bureau of the Treasury (BTr) on Tuesday ended the offer period for the three-year retail treasury bond (RTB), three days short of the original schedule or until February 6, after receiving strong demand for the debt paper. In an announcement posted on its website, the agency said… Read More
2019-nCoV to weigh down PH's '20 growth
February 4, 2020, 7:41 pm
MANILA -- The novel coronavirus (2019-nCoV) outbreak is expected to hit the Philippine economy, with an economist looking at this year’s domestic output faster than last year’s 5.9 percent but “pressed to meet” this year’s 6.5-7.5 percent target. In a report, ING Bank Manila senior… Read More
Risk-on sentiments lift stocks, peso ends sideways
February 4, 2020, 7:34 pm
MANILA -- Bargain hunting lifted the Philippine Stocks Exchange index (PSEi) Tuesday while the local currency ended sideways. After a six-day slide, the main equities index gained 1.26 percent, or 89.87 points, to 7,226.90 points, which BPI Research said was in line with its counterparts in the… Read More
PH, Germany to kick off JEC meeting this year
February 4, 2020, 5:51 pm
MANILA -- The Philippines and Germany will kick off the Joint Economic Committee (JEC) this year as they seek to strengthen economic ties, Department of Trade and Industry (DTI) Secretary Ramon Lopez said. In a forum of German businessmen Tuesday, Lopez said the first JEC meeting with Germany will… Read More
IMF chief confident China's economy remains resilient
February 4, 2020, 4:56 pm
WASHINGTON -- The International Monetary Fund (IMF) supports China's efforts to tackle the novel coronavirus outbreak, and is confident that China's economy "remains resilient," IMF Managing Director Kristalina Georgieva said Monday. In a statement on Twitter and a similar one on Chinese social… Read More
Manufacturing purchasing managers’ index up in January
February 3, 2020, 6:25 pm
MANILA -- The local manufacturing sector's purchasing managers’ index (PMI) increased to 52.1 in January from 51.7 in December 2019, IHS Markit reported Monday. This is the second consecutive month that the manufacturing sector recorded a positive growth. “Operating conditions improved at a… Read More
Mask maker commits to supply 2M pieces a month
February 3, 2020, 5:23 pm
MANILA -- The lone manufacturer of surgical masks in the country has committed to the Department of Trade and Industry (DTI) to produce two million pieces of masks per month, DTI Secretary Ramon Lopez said Monday. In a statement, Lopez said Medtecs International Corp. Ltd. pledged to supply this… Read More
Big-time oil price rollback set this week
February 3, 2020, 2:36 pm
MANILA -- More oil companies have announced another price reduction effective Tuesday. Shell, Petro Gazz, and Seaoil said they would reduce prices of gasoline by PHP1.60 per liter and PHP2 per liter for diesel. Shell and Seaoil will also slash prices of kerosene by PHP2.45 per liter. Cleanfuel and… Read More
Tycoon vows to help develop Bacolod into ‘dragon city’
February 2, 2020, 6:56 pm
BACOLOD CITY -- Filipino-Chinese tycoon Andrew Lim Tan has vowed to help Bacolod become a “dragon city” through future expansions of his own company, which has initially poured in billions of pesos in two property developments here. “Bacolod has so much potential and we look forward to… Read More
Globe Telecom to pour P1-B investment in Bataan
February 1, 2020, 4:48 pm
BALANGA CITY, Bataan -- Globe Telecom will invest some PHP1 billion for its communication service in this province, especially on better and speedy internet connection. This was announced by Bataan 2nd District Rep. Jose Enrique “Joet” Garcia III as he welcomed for the first time Globe chief… Read More
Consumer group asks DTI to buy masks in bulk to control prices
February 1, 2020, 11:58 am
MANILA -- Consumer advocate Laban Konsyumer, Inc. (LKI) has urged the Department of Trade and Industry (DTI) to buy masks in bulk and distribute them to retail outlets at controlled prices. LKI president Victorio Mario Dimagiba said on Friday the Philippine Trade and Investment Center (PTIC) has… Read More
Economist eyes limited economic impact of nCoV on PH
January 31, 2020, 7:46 pm
MANILA -- Philippine economic growth may slow down by about 0.3 percent to 0.8 percent this year if the spread of the novel coronavirus (2019-nCoV) turns out to be as severe as that of the Severe Acute Respiratory Syndrome (SARS). This was the projection of Union Bank of the Philippines… Read More
Peso recovers, PSEi slips further
January 31, 2020, 7:40 pm
MANILA -- The Philippine peso recovered Friday on additional moves globally to combat the novel coronavirus (2019-nCoV) epidemic but investors’ concerns on the issue continue to hurt the local equities market. The local currency finished the trade at 50.83 from 50.96 a day ago to a US dollar,… Read More
Mask shortage should be temporary: DTI
January 31, 2020, 4:40 pm
MANILA -- With the sudden surge in demand for face masks following the first confirmed 2019 novel coronavirus (2019-nCov) in the country, Department of Trade and Industry (DTI) Secretary Ramon Lopez said the supply shortage shall be temporary. "Shortage is due to the sudden jump in demand that… Read More
BSP forecasts January 2020 inflation rate between 2.5-3.3%
January 31, 2020, 4:34 pm
MANILA – The Bangko Sentral ng Pilipinas (BSP) forecasts January 2020 inflation rate to go up to as high as 3.3 percent, with the lower end of the projection at 2.5 percent, due to upticks in the prices of the liquified petroleum gas (LPG) and selected food items. The lower end of the forecast… Read More
Fitch Solutions eyes PH construction growth of 9.4% in '20
January 31, 2020, 4:31 pm
MANILA – Fitch Solutions Macro Research forecasts a 9.4 percent growth for the Philippines’ construction sector this 2020 and this is seen to be driven by public spending and foreign assistance as well as investments. “Build, Build, Build will remain a key policy supporting growth of the… Read More
Negrenses encouraged to invest in treasury bonds
January 31, 2020, 4:28 pm
BACOLOD CITY -- Investing in retail treasury bonds (RTBs) is one way Negrenses could avail of government securities that are “more convenient and affordable”, the Bureau of the Treasury (BTr) has said. As part of its campaign to make state bonds available to the public, the BTr conducted the… Read More
Coronavirus fears continue to pull down stocks, peso
January 30, 2020, 9:33 pm
MANILA -- Foreign selling continues to negatively impact Philippine shares and the peso Thursday partly on news of increasing number of deaths and infection from novel coronavirus (2019-nCoV) in several countries. The Philippine Stock Exchange index (PSEi) shed 0.93 percent, or 69.63 points, to… Read More
