Business
Economic managers downplay initial big impact of 2019-nCoV
January 30, 2020, 9:30 pm
MANILA -- Economic managers on Thursday discounted the possible effect of the novel coronavirus (2019-nCoV) on the Philippine economy, citing government measures to address the issue. In a briefing after the meeting of the Economic Development Cluster (EDC), Socioeconomic Planning Secretary… Read More
Realtors bullish on Davao's property market
January 30, 2020, 8:08 pm
DAVAO CITY -- Property builders are looking at 2020 as a very good year for Davao's real estate industry, a ranking official of the Chamber of Real Estate and Builders' Association, Inc. (Creba) said Wednesday.In a press briefing here, Creba-Davao chapter president Maria Luisa Abaya said she… Read More
BSP sees slight uptick in inflation due to Taal Volcano eruption
January 30, 2020, 7:52 pm
MANILA -- Officials of the Bangko Sentral ng Pilipinas (BSP) forecast a slight uptick of food inflation in the first quarter of 2020 as a result of the Taal Volcano eruption this month. “We feel that the increase will probably be temporary with price pressures easing in the coming months,” BSP… Read More
Grab calls for review to include taxis in ride-hailing market
January 30, 2020, 7:01 pm
MANILA – Ride-hailing company Grab Philippines on Thursday called on the Philippine Competition Commission (PCC) to include in its review taxis and other modes of public transportation in the “ride-hailing competitive market.” Marikina Rep. Stella Quimbo on Wednesday said Grab would… Read More
Tacloban gov’t reminds bizmen of permit processing deadline
January 30, 2020, 6:57 pm
TACLOBAN CITY -- The city government here has urged local business owners to have their permit and license transactions processed before the deadline on January 31. City treasurer Zosima Cordaño said on Thursday that non-renewal of permits within the deadline constitutes a 25-percent surcharge of… Read More
Car importers’ sales slip in 2019
January 30, 2020, 4:39 pm
MANILA – The sales of car importers in the country slipped by 0.5 percent to 87,984 units in 2019 from 88,430 units in 2018, the Association of Vehicle Importers and Distributors (AVID) reported Thursday. The sales of imported passenger cars went down by 150 units to 30,726 units last year from… Read More
Living condition in Bicol improves, poverty incidence drops: PSA
January 30, 2020, 4:37 pm
LEGAZPI CITY -- Living condition in Bicol has gradually improved as poverty incidence has significantly dropped to 26 percent in 2018 from 39 percent in 2015, a report from the Philippine Statistics Authority (PSA) in Bicol said. Cynthia Perdiz, PSA regional director, said the significant decrease… Read More
Cordillerans urged to invest in gov't bonds
January 30, 2020, 2:04 pm
BAGUIO CITY – The Bureau of the Treasury (BTr) is now accepting investments for its retail treasury bonds (RTB) with a three-year fixed rate until February 6 to finance the government’s priority projects. The RTBs are part of the government’s effort to encourage the ordinary Filipinos, even… Read More
Peso, stocks slip on coronavirus scare
January 29, 2020, 8:13 pm
MANILA – Anxieties over the impact of the novel coronavirus (2019-nCoV) continued to impact both Philippine equities and the local currency on Wednesday. The peso ended the day’s trading at 50.83 from 50.75 the previous day, which BPI Research pointed to jitters on the coronavirus from China,… Read More
NEDA Board approves MRT 4, 7 other projects
January 29, 2020, 6:57 pm
MANILA -- The National Economic and Development Authority (NEDA) Board confirmed the Investment Coordination Committee (ICC) approvals of the Metro Rail Transit (MRT) 4, Edsa Greenways Project, and six other new projects worth PHP547.6 billion. “These projects are the building blocks of our… Read More
Launch of catastrophe insurance for properties eyed
January 29, 2020, 6:48 pm
MANILA -- An initiative of the private sector to provide catastrophe insurance for properties is targeted to be launched within 2020 to address impact of disasters like earthquake and flooding. Officials of several non-life insurance companies have been pushing for this bid for several years now… Read More
PH stays open to free trade deals with US, EU
January 29, 2020, 5:37 pm
MANILA – The Philippines remains open to move forward discussions on possible separate free trade agreements (FTAs) with the United States and the European Union after talks have recently slowed down, the country’s top trade official said. Department of Trade and Industry (DTI) Secretary Ramon… Read More
Gov’t eyes higher benefits from state’s valuable properties
January 29, 2020, 5:34 pm
MANILA -- As the Duterte administration is running after “onerous” contracts, Trade Secretary and National Development Company (NDC) Chairman Ramon Lopez said the government’s direction is to get higher benefits from the state’s valuable properties. Lopez said the government is looking to… Read More
Business as usual for PH, China amid coronavirus outbreak
January 29, 2020, 2:54 pm
MANILA -- It is business as usual for the trade and investment relations between the Philippines and China amid the new coronavirus (2019-nCoV) outbreak, Department of Trade and Industry (DTI) Secretary Ramon Lopez said. Lopez told reporters Wednesday that the Philippine government has not… Read More
PSEi to hit 9K points: COL Financial
January 28, 2020, 9:10 pm
MANILA -- Online stockbroker COL Financial expects the local stock barometer to reach 9,000 points by end-2020, supported by strong Philippine economic fundamentals and faster earnings growth. “For 2020, we feel that the momentum on (gross domestic product) growth will continue and even for the… Read More
Toyota confident of hitting CARS program target
January 28, 2020, 9:07 pm
MANILA -- Toyota Motors Philippines (TMP) said it is on track to hit the 200,000 sales on Vios over a six-year period under the Comprehensive Automotive Resurgence Strategy (CARS) program. “TMP’s locally assembled passenger car, the Toyota Vios, which has entered under the CARS program,… Read More
Peso sideways, stocks slip anew
January 28, 2020, 8:03 pm
MANILA – The Philippine peso slightly improved against the greenback on Tuesday but Philippine shares were all down as concerns on the novel coronavirus from China continue. The local currency ended the day at 50.75 from 50.835 on Monday, which BPI Research traced to lower global oil prices. It… Read More
BTr sells P134-B retail treasury bonds
January 28, 2020, 7:47 pm
MANILA -- The Bureau of the Treasury (BTr) on Tuesday sold PHP134 billion worth of three-year retail treasury bonds (RTB) during the rate setting auction, which saw the debt paper fetching a 4.375 percent coupon rate. Volume issued during the day’s auction is more than four times the… Read More
IC chief optimistic of sustained growth of insurance sector
January 28, 2020, 7:45 pm
MANILA -- Insurance Commissioner Dennis Funa remains optimistic of the steady growth of premium income this 2020, citing that domestic fundamentals remain strong despite external challenges. “Barring international issues, I continue to be confident about the performance of the industry because… Read More
PH eyes enhanced trade, investment ties with East Asia, Chile
January 28, 2020, 6:56 pm
MANILA -- Trade Secretary Ramon Lopez has put forward the Philippines’ interest to enhance trade and investment relations with trade officials from East Asian economies and Chile at the sidelines of the 50th World Economic Forum (WEF) in Davos, Switzerland. In a statement, the Department of… Read More
