Business
FMIC execs: POGOs practical proposition for now
January 15, 2020, 1:35 pm
MANILA -- Officials of the investment banking arm of the Metrobank Group consider a “sensible thing” to allow the operations of Philippine Offshore Gaming Operators (POGO) in relation to government revenues, citing that regulations have been put in place. … Read More
Power restored in some areas in Batangas
January 15, 2020, 12:51 pm
MANILA – Batangas II Electric Cooperative Inc. (BATELEC II) has restored power in 15 out of 90 barangays in Tanauan City, Talisay, and Laurel in Batangas that were affected by the Taal Volcano eruption, the Department of Energy (DOE) reported on Wednesday. According to DOE, some 150,000… Read More
Consumer, catch-up infra spending seen to drive growth in 2020
January 14, 2020, 9:21 pm
MANILA -- Analysts at First Metro Investment Corp. (FMIC) and the University of Asia and the Pacific (UA&P) expect the Philippine economy growing by 6.2 percent to 6.6 percent this year, as consumer spending rebounds and the national government infrastructure spending accelerate. “This is really… Read More
Car sales up 3.5% in 2019
January 14, 2020, 7:35 pm
MANILA -- Sales of car manufacturers in the country increased by 3.5 percent in 2019 to 369,941 units from 357,410 units sold in 2018. Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) reported Tuesday that sales of commercial vehicles supported the growth of the industry amid… Read More
FMIC eyes 50 bps cut in BSP rates this '20
January 14, 2020, 7:31 pm
MANILA -- The projected normalization of domestic inflation rate made officials of First Metro Investment Corporation (FMIC) forecast further cuts in the Bangko Sentral ng Pilipinas’ (BSP) key policy rates by as much as 50 basis points this year. In a briefing Tuesday, FMIC president Rabboni… Read More
Central Visayas biz sector appeals P28 daily wage hike
January 14, 2020, 7:25 pm
DUMAGUETE CITY -- The business community in Central Visayas is appealing the decision of the Regional Tripartite Wages and Productivity Board in Region 7 (RTWPB-7), which it described as the unilateral reclassification of cities in Negros Oriental with regard the implementation of the daily… Read More
Stocks up, peso down ahead of US-China trade pact signing
January 14, 2020, 7:21 pm
MANILA -- The country's main equities gauge ended Tuesday on a positive note but the peso weakened against the US dollar, ahead of the scheduled signing of the first phase of the US-China trade deal on January 15. The Philippine Stock Exchange index (PSEi) gained 0.21 percent, or 16.48 points, to… Read More
Poverty in PH expected to be halved by 2022: NEDA
January 14, 2020, 6:39 pm
MANILA -- The National Economic and Development Authority (NEDA) expects the country’s poverty rate to be halved by the end of the current administration’s term in 2022. “This would be the first time in history that the poverty rate will be halved in just six years, a significant… Read More
Security Bank suspends ops in areas hit by Taal eruption
January 14, 2020, 12:50 pm
MANILA -- Branches of Security Bank Corporation (Security Bank) in some areas affected by Taal Volcano's eruption have suspended operations Tuesday. In an advisory, the bank said these include branches in Tagaytay City, Cavite; Santa Rosa, Laguna; and Lemery, Lima, and Santo Tomas, Batangas.… Read More
Dominguez assures aid for Taal Volcano victims
January 13, 2020, 8:54 pm
MANILA -- The government is committed to help areas affected by the Taal Volcano eruption to immediately address the needs of the people and the economy. This was assured by Finance Secretary Carlos Dominguez III on Monday saying that officials of various government agencies are monitoring… Read More
Globe provides unli Wi-Fi for stranded travelers at NAIA
January 13, 2020, 7:01 pm
MANILA -- Globe Telecom on Monday announced it would provide unlimited free Wi-Fi connection in all the four terminals of the Ninoy Aquino International Airport (NAIA) on January 13 and 14. Airport authorities temporarily stopped flight operations on Sunday night due to the presence of volcanic… Read More
AEV to raise up to $400M for offshore expansion
January 13, 2020, 5:29 pm
MANILA -- Tapping the foreign market for the first time, Aboitiz Equity Ventures Inc. (AEV) raised USD400 million through the issuance of fixed-rate, US dollar-denominated Regulation dollar-only senior unsecured notes by its wholly-owned subsidiary, AEV International Pte Ltd. The notes will be… Read More
More oil firms to cut prices Tuesday
January 13, 2020, 5:19 pm
MANILA -- More oil companies announced they will reduce their pump prices on Tuesday. Flying V, Petron, PTT Philippines, and Total said they will roll back diesel prices by PHP0.20 per liter effective 6 a.m. Flying V and Petron will also slash prices of kerosene by PHP0.30 per liter. No… Read More
Banks urged to ensure employees’ safety after amid eruption
January 13, 2020, 3:03 pm
MANILA -- The Bankers Association of the Philippines (BAP) on Monday urged its members to “exercise management discretion” to protect their employees from the impact of the Taal Volcano eruption. In a statement, BAP Managing Director Benjamin Castillo said US dollar and Philippine peso spot… Read More
DTI eyes ration sales of face masks as demand surges
January 13, 2020, 2:45 pm
MANILA -- Trade Secretary Ramon Lopez said his department will suggest to the retailers to limit sales of face and gas masks per customer as demand surges due to the eruption of Taal Volcano. Social media users posted that N95 masks were immediately out of stock in some stores in Bambang, which… Read More
Measures taken to secure Malampaya from Taal eruption: DOE
January 13, 2020, 1:33 pm
MANILA -- The Department of Energy (DOE) said necessary actions are being taken by Shell Philippines to secure the Malampaya gas field. In a media advisory Monday, DOE said Shell is undertaking “all necessary precautions and actions required to maintain safe, reliable, and efficient operation… Read More
Oil price rollback set this week
January 12, 2020, 6:12 pm
MANILA -- Oil companies have announced they will slash their prices this week. Shell, Seaoil, and Petro Gazz said Sunday they will cut prices of diesel by PHP0.20 per liter. Only Shell said it will roll back prices of kerosene by PHP0.30 per liter. There is no price adjustment expected for… Read More
2019 availments in BSP's peso rediscount facility rise
January 11, 2020, 2:17 pm
MANILA – Availments under the Bangko Sentral ng Pilipinas’ (BSP) peso rediscount facility rose to PHP122.167 billion by end-December 2019 from PHP71.524 million in the previous year. Data released by the central bank on Friday showed that total availments under the peso rediscount facility… Read More
PAL revises Manila-Zambo sked due to runway closure
January 10, 2020, 7:21 pm
MANILA -- Flag carrier Philippine Airlines (PAL) has revised its Manila-Zamboanga flight schedules from January 10 to 15 as the Zamboanga International Airport closes for night operations to give way to the repair of runway lights. Civil Aviation Authority of the Philippines (CAAP) spokesperson… Read More
Tourism firms reminded of no accreditation, no biz permit policy
January 10, 2020, 5:56 pm
LAOAG CITY—The Provincial Government of Ilocos Norte has reminded all tourism enterprises to secure their accreditation with the Department of Tourism (DOT) before their issuance of business permits. Provincial tourism officer Ian Ree Raquel on Thursday said the governor has reiterated that all… Read More
