Business
Group urges DTI to resolve local sugar prices woes
January 7, 2020, 8:40 pm
MANILA -- The Confederation of Sugar Producers (Confed) reiterated its position that importation is not the answer to reported high cost of domestic sugar. Rather, the Department of Trade and Industry (DTI), along with the Sugar Regulatory Administration (SRA), should resolve the issue of sugar… Read More
Diokno: Policy rate cut possible in Q1
January 7, 2020, 8:23 pm
MANILA -- A cut in the Bangko Sentral ng Pilipinas’ (BSP) key policy rates may be expected in the first quarter of 2020, BSP Governor Benjamin Diokno said Tuesday. During the Tuesday Club forum in Mandaluyong City, Diokno said Philippine monetary officials do not want domestic real interest… Read More
2019 full-year inflation settles within gov’t target
January 7, 2020, 8:09 pm
MANILA -- The National Economic and Development Authority (NEDA) is pleased with the news that the full-year inflation for 2019 settled at 2.5 percent, which is well within the government target of 2.0 to 4.0 percent. The Philippine Statistics Authority (PSA) reported Tuesday the country’s… Read More
Sagay City port expansion, ecozone set for completion in Q1
January 7, 2020, 7:54 pm
BACOLOD CITY -- Four major projects, including the port expansion and the development of the economic zone in Sagay City, Negros Occidental, are set for completion in the first quarter of the year. These infrastructure and other projects, which will be completed and turned over this year, were… Read More
PM launches Việt Nam's 2020 ASEAN Chairmanship
January 7, 2020, 7:48 pm
HÀ NỘI -- Prime Minister Nguyễn Xuân Phúc chaired a ceremony in Hà Nội on Monday to launch Việt Nam’s 2020 ASEAN Chairmanship. Speaking at the event, Prime Minister Phúc said throughout its 25 years of ASEAN membership, Việt Nam has always made responsible contributions to ASEAN… Read More
Peso, stocks rise on 2020 budget approval
January 7, 2020, 7:22 pm
MANILA -- The peso and the Philippine Stock Exchange index (PSEi) both improved Tuesday partly due to the signing into law of the 2020 national budget. The local currency ended the day’s trade at 50.76 to a US dollar from its 50.93 close a day ago. RCBC chief economist Michael Ricafort told PNA… Read More
Diokno calls on public not to panic about global geopolitics
January 7, 2020, 7:17 pm
MANILA -- Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno urged the public not to panic about the impact of the ongoing geopolitical developments overseas on remittances and oil prices. “Okay. What I can say is let’s not be alarmist here. Let’s not be alarmist,” he told… Read More
Dec. 2019 inflation still within expectations: BSP
January 7, 2020, 5:03 pm
MANILA – The Philippines’ inflation rate further accelerated in December 2019 to 2.5 percent but the Bangko Sentral ng Pilipinas (BSP) is not worried, saying the level remains within its projection. Faster inflation of electricity rates, petroleum products, select food items, and the base… Read More
HSBC exec eyes 2020 GDP at 6.4%
January 7, 2020, 4:59 pm
MANILA – An official of banking giant HSBC forecasts better output for the Philippine economy this and next year, with output seen at 6.4 percent and 6.5 percent, respectively, making the country among the best in the world. In a briefing on Tuesday, HSBC managing director and chief market… Read More
Petron open to dialogue with striking union execs, members
January 7, 2020, 4:52 pm
BALANGA CITY, Bataan -- Petron Corp. said it is open to a dialogue with members and officers of the Bataan Refiners Union of the Philippines (BRUP), who went on strike at the Petron Bataan Refinery (PBR) in Limay town, this province over the weekend. “Petron remains committed to building a… Read More
DA sets higher rice production goal for 2020
January 7, 2020, 3:42 pm
MANILA -- The Department of Agriculture (DA) is targeting to produce 19.6 million metric tons (MMT) of palay (unhusked rice) in 2020. According to a statement on Tuesday, Agriculture Secretary William Dar said the projected palay harvest for this year would be 3 percent more than the estimated… Read More
Inflation rises to 2.5% in December, 2019 average within target
January 7, 2020, 11:49 am
MANILA -- Increases in prices of food and non-alcoholic beverages and transport further accelerated the country’s headline inflation to 2.5 percent in December, bringing the full-year figure to 2.5 percent. Last year’s inflation settled within the government’s target of 2 to 4 percent for… Read More
PH T-bill rates end mixed Monday
January 6, 2020, 8:50 pm
MANILA -- Rate of the government-issued Treasury bills (T-bills) ended mixed Monday but all three tenors were oversubscribed. Average rate of the bellwether 91-day paper dropped to 3.179 percent from 3.192 percent during the auction on December 2, 2019. The Bureau of the Treasury (BTr) offered the… Read More
Peso stays afloat, stocks slid
January 6, 2020, 8:10 pm
MANILA -- Geopolitical concerns on the Middle East continue to worry investors, resulting in the weakness of Philippine equities index but the peso was able to stay firm against the US dollar. The local currency finished the week’s first trading day at 50.93 from 51.09 close at the end of last… Read More
LGUs urged to make it easier to put up, renew businesses
January 6, 2020, 7:06 pm
MANILA -- Anti-Red Tape Authority (ARTA) Director General Jeremiah Belgica has called on local government units (LGUs) to ensure efficient and fast processing of business registrations and renewals. Belgica said some LGUs still ask for redundant requirements for business registrations and renewals… Read More
Economist sees higher growth for PH this 2020
January 6, 2020, 7:01 pm
MANILA -- Obstacles faced by the Philippine economy in 2019 are not expected this year, making an economist optimistic for the return of domestic expansion to the 6-percent level. In a report, ING Bank Manila senior economist Nicholas Mapa said the country saw the “Tale of 2 halves” last year… Read More
Gasoline prices to go down, diesel up Tuesday
January 6, 2020, 4:08 pm
MANILA -- Oil companies have announced their first price adjustments for 2020 that will take effect at 6 a.m. on Tuesday. In separate advisories, Seaoil, PTT Philippines and Flying V said price of their respective gasoline products will decline by PHP0.10 per liter, while price of diesel will… Read More
Oil prices jump following US killing of Iranian commander
January 5, 2020, 4:17 pm
HOUSTON -- Oil prices jumped for the week ending January 3 following the US killing of an Iranian commander. Qassem Soleimani, commander of Iran's Islamic Revolution Guards Corps Quds Force, and Abu Mahdi al-Muhandis, deputy chief of Iraq's paramilitary Hashd Shaabi forces, were killed in a strike… Read More
Zambo one-stop shop fast-tracks biz registration
January 3, 2020, 6:31 pm
ZAMBOANGA CITY -- The Business Permits and Licensing Division (BPLD) has processed over 300 applications Thursday, the first day of operations of the Business One Stop Shop (BOSS) here. BPLD chief Benjie Barredo said Friday the BOSS has been set up at Centro Latino Convention Hall of the Paseo de… Read More
AirAsia PH increases frequencies of 8 routes in Q1 2020
January 3, 2020, 4:45 pm
MANILA -- AirAsia Philippines on Friday announced an increase in the flight frequencies of eight routes in the first quarter of 2020. Beginning January, the carrier confirmed it has already increased the frequencies of the following flights: Clark-Iloilo; Iloilo-Clark -- from three times a week… Read More
