Business
IMF cuts global growth projection, sees 'signs of stabilization'
January 21, 2020, 5:34 pm
DAVOS -- The International Monetary Fund (IMF) cut global growth projections on Monday, citing negative surprises in a few emerging markets, notably in India, and increased social unrest, but added that "global growth may be bottoming out." Global economic growth is now projected to rise from an… Read More
DTI-Bulacan turns over P8.7-M service facilities to 7 coops
January 21, 2020, 1:28 pm
CITY OF MALOLOS, Bulacan -- The Department of Trade and Industry (DTI) provincial office here turned over on Monday PHP8.7 million worth of shared service facilities (SSF) to seven cooperators that are seen to boost the productivity of micro, small and medium enterprises (MSMEs) in the province.… Read More
2,153 billionaires wealthier than 4.6B people
January 21, 2020, 1:11 pm
ISTANBUL -- Last year, 2,153 billionaires from around the world were richer than 4.6 billion people, a new report from UK-based charity Oxfam said on Monday. The report, named Time to Care said: "Economic inequality is out of control. One percent of the world’s richest have more than twice as… Read More
Gov't sets sights on onerous deals with private entities
January 20, 2020, 11:25 pm
MANILA -- The government is focusing on contracts that may have onerous provisions, Finance Secretary Carlos Dominguez III said on Monday. “In fact, we have one that we found,” he said in a media interview. Dominguez said this particular contract is in real estate. “Something that has… Read More
Planned Euro bond issuance gets investment grade ratings
January 20, 2020, 8:45 pm
MANILA – Major credit rating agencies have given the Philippines’ planned benchmark Euro bond issuance investment grade ratings. In a statement Monday, S&P Global Ratings said it has assigned a ‘BBB+’ rating on the country’s planned issuance. “The notes represent direct, general,… Read More
REIT IRR revisions seen to boost PH infra program
January 20, 2020, 8:11 pm
MANILA -- Investments in Real Estate Investment Trust (REIT) are expected to increase substantially following the amendments to rules and regulations which will protect small investors and boost the Duterte administration’s infrastructure program. One of the amendments to the implementing rules… Read More
Stocks, peso end lower
January 20, 2020, 7:48 pm
MANILA -- Geopolitical concerns weakened the peso Monday while investors’ worries on water concessionaires resulted in the negative close of the Philippine Stock Exchange index (PSEi). The local currency finished the week’s first trading day at 50.975 from 50.891 Friday, which BPI Research… Read More
Taal Volcano eruption effect on economy still minimal: NEDA
January 20, 2020, 7:27 pm
MANILA -- The Taal Volcano’s eruption has so far had a minimal impact on the economy as the government starts laying down the groundwork for the rehabilitation of the affected areas, a ranking official of the socioeconomic planning agency said Monday. “We don’t see it having a major effect… Read More
More supplies of N95 masks to arrive next week: DTI
January 20, 2020, 5:26 pm
MANILA -- A medical consumables manufacturer has assured the Department of Trade and Industry (DTI) that there will be more supplies of N95 masks. The DTI said the mother company of Medtecs International Corp. Ltd abroad will be supplying 400,000 pieces of FFP2-N95 masks that are set to arrive… Read More
NegOcc power rates go down this month
January 20, 2020, 5:05 pm
BACOLOD CITY – Reduction in generation cost has brought down residential power rates in three electric cooperatives in Negros Occidental for January. The Central Negros Electric Cooperative (Ceneco) announced on Monday that its rate for the billing month of January decreased by PHP0.0671 per… Read More
NEDA lists potential PPP projects in Eastern Visayas
January 20, 2020, 3:52 pm
TACLOBAN CITY -- The National Economic and Development Authority (NEDA) is preparing a list of potential Public-Private Partnership (PPP) projects in Eastern Visayas to be presented soon to the country's big investors. The list of proposed projects will be presented to key investors within the… Read More
Big-time oil price rollback set this week
January 20, 2020, 1:20 pm
MANILA -- A big-time oil price rollback is to welcome motorists this week. Four oil companies announced they are cutting prices of diesel, gasoline, and kerosene starting Monday morning. Shell, Seaoil, Cleanfuel, and Petro Gazz said they will slash diesel prices by PHP1.70 per liter. Seaoil and… Read More
PEZA eyes 5-10% growth in investment pledges in 2020
January 19, 2020, 5:37 pm
MANILA -- Philippine Economic Zone Authority (PEZA) Director General Charito Plaza targets a 5 to 10-percent growth in investment pledges this year after the agency recorded a decline in approvals in 2019. Plaza said there are big-ticket projects that are applying for incentives in PEZA, such as… Read More
State-of-the-art cement, port facilities open in Bataan
January 19, 2020, 2:54 pm
MARIVELES, Bataan -- PHINMA Corporation inaugurated on Saturday its first state-of-the-art cement and port facilities under its subsidiary, the PhilCement Corp., at the Freeport Area of Bataan here. The inauguration and blessing signaled the operation of the plant with highly-automated equipment… Read More
DOF to make sugar industry globally-competitive
January 18, 2020, 4:47 pm
LA CARLOTA CITY, Negros Occidental -- Assistant Secretary Antonio Joselito Lambino II said the Department of Finance (DOF) wants to learn more about the sugar industry and understand their concerns to make it globally-competitive. “That’s the goal, that we’re able to compete with our… Read More
Diokno: Structural reforms to fuel 'A' level credit rating bid
January 18, 2020, 10:59 am
MANILA -- A structural reform is seen to boost the Philippines' chances of having an ‘A’ level credit rating within two years.Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno made this remark in a briefing Friday as he identified the factors that would fuel the likelihood of… Read More
Slight impact on inflation, GDP seen due to Taal eruption
January 18, 2020, 10:34 am
MANILA -- Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said he had expected that the eruption of the Taal Volcano will have a limited impact on the domestic economy’s growth this year. In a briefing Friday, the central bank chief said while the National Capital Region (NCR);… Read More
PSEi recovers, peso ends week sideways vs. USD
January 18, 2020, 10:02 am
MANILA – The Philippine Stock Exchange index (PSEi) recovered on Friday while the peso ended sideways as investors weigh on the possibility of another cut in the Bangko Sentral ng Pilipinas (BSP). After sliding for two consecutive days, the main equities index gained 0.91 percent, or 69.40… Read More
Negosyo Centers assist over 8K MSMEs in NegOcc
January 17, 2020, 7:26 pm
BACOLOD CITY -- More than 8,000 micro, small and medium enterprises (MSMEs) in Negros Occidental have availed of assistance from various Negosyo Centers of the Department of Trade and Industry (DTI) in the past four past years. The figures include 4,177 newly-assisted enterprises in 2019, and… Read More
Mindanao products find market in US
January 17, 2020, 6:21 pm
DAVAO CITY -- Mindanao products will now have the opportunity to penetrate the US market, particularly the Filipino-American communities in Los Angeles, California, the Mindanao Development Authority (MinDA) said on Friday. This followed after MinDA Secretary Emmanuel Piñol met with the… Read More
