Business
Oil depots, power plants safe from Taal eruption
January 24, 2020, 6:20 pm
MANILA – If worse comes to worst, damage to oil refineries, depots, and import terminals as well as power plants is not seen even if an Alert Level 5 will be raised at Taal Volcano, an energy official said. DOE Undersecretary Felix William Fuentebella said Friday ways to protect the facilities… Read More
Ways to address cyber security talent shortage pushed
January 23, 2020, 10:19 pm
MANILA – A technology expert said on Thursday there is no need to worry about the supply of cyber security talents since there are ways to address this, such as automation and use of alternative sources. In a briefing, Palo Alto Networks Field Chief Security Officer for Asia Pacific Kevin… Read More
PH ’19 GDP still decent, resilient: economist
January 23, 2020, 9:18 pm
MANILA -- Finance Secretary Carlos Dominguez III said had Congress approved last year’s budget on time, domestic growth would have improved to as much as 6.8 percent from the previous year's 6.2 percent. “If the 2019 budget was passed on time and the National Government was able to replicate… Read More
Stocks rise anew, peso ends sideways
January 23, 2020, 8:18 pm
MANILA -- The Philippine Stock Exchange index (PSEi) rose anew Thursday as investors digest the government’s report about the 5.9-percent growth of the domestic economy in 2019, while the peso ended sideways. The stock market barometer improved by 1.98 percent, or 147.62 points, to 7,616.35… Read More
Timely budget passage to boost 2020 economic growth: Pernia
January 23, 2020, 8:11 pm
MANILA -- Government economic planners are optimistic about hitting this year’s gross domestic product (GDP) target of 6.5 percent to 7.5 percent after the economy expanded slightly lower than the target band in 2019 due to the delayed national budget approval. The Philippine economy expanded by… Read More
P113-B PH exports enter EU market tariff-free in 2019
January 23, 2020, 8:07 pm
MANILA -- Some 2 billion euros (PHP113 billion) worth of Philippine products entered the European Union (EU) market tariff-free under the EU Generalised Scheme of Preference Plus (GSP+) last year, a representative from the EU said Thursday. In a press conference in Makati City, Delegation of the… Read More
PH economy ‘extremely resilient’ in 2019: ECCP
January 23, 2020, 4:57 pm
MANILA -- European Chamber of Commerce of the Philippines (ECCP) President Nabil Francis said the Philippine economy has become “extremely resilient” in 2019 amid external factors and challenges in the domestic environment. Francis made the statement in a press conference in Makati City… Read More
Marsman Estate, ARBs ink ‘industry record’ lease agreement
January 23, 2020, 1:57 pm
MANILA -- Marsman Estate Plantation Inc. (MEPI) and more than 600 agrarian reform beneficiaries (ARBs) have signed an 80 percent increase in the annual lease package of the landholding making it PHP90,000 per hectare per year, inclusive of production incentive -- by far the highest on record in… Read More
PH economy grows 6.4% in Q4, 2nd fastest in Asia
January 23, 2020, 11:37 am
MANILA -- The Philippine economy expanded by 6.4 percent in the fourth quarter of 2019 on the back of a recovery in government spending, bringing the full-year economic growth to 5.9 percent. In a press briefing Thursday, Socioeconomic Planning Secretary Ernesto Pernia said the Philippines likely… Read More
TDF rates decline this week
January 22, 2020, 8:59 pm
MANILA – Rate of the Bangko Sentral ng Pilipinas’ (BSP) term facilities fell across-the-board Wednesday due to oversubscription. Data released by the central bank showed that rate of the seven-day facility dropped to 4.0301 percent from 4.0851 percent during the auction last January 15. The… Read More
Peso, stocks recover
January 22, 2020, 8:26 pm
MANILA -- The Philippine peso trekked back to the 50-level against the US dollar Wednesday after the country again successfully issued Euro-denominated bond, while the Philippine Stock Exchange index (PSEi) recovered even amid concerns on the latest coronavirus strain from China. The local… Read More
Agri output slightly up in 2019
January 22, 2020, 6:57 pm
MANILA--The Philippine agriculture sector grew by 0.4 percent in the fourth quarter of 2019, bringing full-year growth to 0.7 percent, the Philippine Statistics Authority (PSA) reported on Wednesday. The full-year growth figure, which is slightly faster than the 0.6 percent growth rate posted in… Read More
Hyundai's December 2019 sales in PH up 2.9%
January 22, 2020, 6:03 pm
MANILA -- Korean car assembler Hyundai grew its sales in the Philippine market by 2.9 percent year-on-year in December 2019, its official distributor here Hyundai Asia Resources, Inc. (HARI) reported Wednesday. HARI sold a total of 3,163 units in December 2019 from 3,074-unit sales in the same… Read More
ATRAM portfolio manager eyes PH 2020 growth at 6.3%
January 22, 2020, 5:08 pm
MANILA -- A ranking portfolio manager of ATR Asset Management Inc. (ATRAM) forecasts a 6.3-percent expansion for the Philippine economy this 2020 on expectations of sustained robust consumer spending and government infrastructure spending. The growth projection, however, is lower than the… Read More
PH issues EUR1.2-B Euro bond
January 22, 2020, 2:03 pm
MANILA -- The Philippines on Tuesday (London time) issued EUR 1.2 billion worth of three and nine-year Euro-denominated bonds at EUR600 million each tenor and with the shorter-dated paper fetching a zero-percent coupon rate. National Treasurer Rosalia De Leon, in a message shared by Finance… Read More
PH gets ‘strong appetite’ for planned Euro bond issuance
January 21, 2020, 8:55 pm
MANILA – Philippine Treasury officials are open to sell about USD1 billion worth of three and nine-year Euro bond after receiving positive feedbacks during the investor calls for the planned issuance starting Monday. Deputy Treasurer Erwin Sta. Ana said they had “successful calls with select… Read More
Dominguez calls for transparent gov't, private firms’ deals
January 21, 2020, 8:50 pm
MANILA -- Finance Secretary Carlos Dominguez III has raised the need for “totally transparent” contracts for any rental deal on state properties. “Definitely, we have to implement a totally transparent method of getting the best deal for the rental of all government property,” he told… Read More
Peso touches P51 level, stocks slip anew
January 21, 2020, 8:32 pm
MANILA -- The peso closed at the 51-level against the US dollar on Tuesday while the Philippine Stock Exchange index (PSEi) again ended in the red on investors’ worries on oil supply and prices in the international market. The local unit finished the day’s trade at 51.015 to a US dollar from… Read More
7-year PH T-bond rate rises due to inflationary pressures
January 21, 2020, 6:44 pm
MANILA -- Rate of the Philippines’ seven-year Treasury bond (T-bond) rose Tuesday, which Deputy Treasurer Erwin Sta. Ana attributed to inflationary pressures. Average rate of the debt paper inched up to 4.732 percent from 4.322 percent during the auction of the same tenor on October 29, 2019.… Read More
No power problem for Taal eruption-affected areas: DOE
January 21, 2020, 6:21 pm
MANILA -- Most of evacuation centers in areas affected by Taal Volcano eruption have no issues on power and fuel supplies, the Department of Energy (DOE) said Tuesday. The DOE officials visited Batangas and Cavite over the weekend and last Monday to assess the power situation and fuel supplies in… Read More
