Business
Stocks rise, peso sideways as investors remain cautious
December 18, 2019, 8:03 pm
MANILA -- Bargain hunting lifted the Philippine Stock Exchange index (PSEi) Wednesday but the peso ended sideways against the greenback as investors remain cautious on economic news overseas. The main equities gauge managed to rise to the positive territory with a 0.04 percent, or 3.22 points… Read More
RRR cuts to tame in ‘20: Diokno
December 18, 2019, 8:00 pm
MANILA -- After a total of 400 basis points reduction in big banks’ reserve requirement ratio (RRR) thus far this 2019, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said they are not keen for another aggressive cuts next year. In an interview by journalists Tuesday night, Diokno… Read More
SSS, PayMaya ink deal for real-time payment processing
December 18, 2019, 6:51 pm
MANILA -- Social Security System (SSS) members now have an additional venue to easily pay their contributions and loans after the agency inked a partnership with digital financial services, PayMaya, on Wednesday. In a briefing, SSS President and Chief Executive Officer (CEO) Aurora Ignacio said… Read More
PPP investments hit P2.1 trillion in 2019
December 18, 2019, 6:31 pm
MANILA – A total of PHP2.1 trillion has been invested in the country through public-private partnerships (PPP) since the establishment of the build-operate-transfer law in 1994, the PPP Center (PPPC) said Wednesday. In a press conference in Quezon City, PPPC Deputy Executive Director, lawyer… Read More
Term deposits post undersubscription ahead of holidays
December 18, 2019, 6:28 pm
MANILA – Undersubscription was again registered during the term deposit facility (TDF) auction Wednesday and a ranking Bangko Sentral ng Pilipinas (BSP) official said this in line with their expectations. Data released by the central bank showed that the 15-day facility received tenders… Read More
NEDA calls for stronger planning culture in PH
December 18, 2019, 6:25 pm
MANILA – A stronger culture of planning in the country is needed to fully synchronize planning, investment programming, budgeting and implementation, the National Economic and Development Authority (NDEA) said on Wednesday. “In order to achieve the national economic and patrimony goals… Read More
Cooking gas maker launches LPG-refillable canister in Cebu
December 18, 2019, 5:21 pm
CEBU CITY -- To help the government campaign against illegally-refilled butane canisters, a cooking gas maker has introduced in Cebu a 230-gram version of refillable aluminum liquefied petroleum gas (LPG) canister usable with current models of LPG-rated portable gas stoves and grillers. “As the… Read More
Phoenix, Mesa Natural Gas sign deal for cleaner energy mix
December 18, 2019, 3:58 pm
MANILA -- Phoenix Pilipinas Gas and Power, Inc. and US-based Mesa Natural Gas Solutions LLC have signed a memorandum of agreement (MOA) targeted towards the use of gas and increase the country’s energy mix. The deal, signed by Phoenix Petroleum Philippines Inc. (PPPI) President and Chief… Read More
SMC's Ang, 1st Filipino in elite Bloomberg 50
December 18, 2019, 3:36 pm
MANILA --Ramon S. Ang, president and chief operating officer of conglomerate San Miguel Corporation (SMC), has made it into the Bloomberg 50, an elite annual list of top global innovators, entrepreneurs, and leaders who have changed the global business landscape, as compiled by Bloomberg… Read More
PSEi regains footing, peso slides
December 17, 2019, 8:24 pm
MANILA -- The Philippine Stock Exchange index (PSEi) recovered Tuesday while the peso weakened against the greenback PSEi rose 0.38 percent, or 28.85 points, to 7,730.45 points, which a trader pointed to news reports saying the first phase of the US-China trade pact is a done deal. All Shares… Read More
PH scores big in 2nd Asean Mineral Awards
December 17, 2019, 7:28 pm
MANILA -- Three members of the Chamber of Mines of the Philippines (COMP) were adjudged winners at the recently concluded 2nd Asean Mineral Awards (AMA) held in Bangkok, a biennial event that recognizes mineral resource companies for achieving best practices in environmentally and socially… Read More
Completion of 13 infra projects eyed in few years: Chinese envoy
December 17, 2019, 6:08 pm
MANILA – China’s envoy to the Philippines said on Monday more than a dozen flagship infrastructure projects are in the pipeline to be completed in the next few years as he vowed continuous support for the country’s Build, Build, Build program. “We have 13 ongoing projects. Those are big… Read More
BSP probes 10 banks for links to money laundering scheme
December 17, 2019, 6:03 pm
MANILA -- Philippine monetary officials are now looking at information that about 10 banks received the alleged dirty money that passed through Ayala-led Bank of the Philippine Islands (BPI), through its partnership with Westpac Banking Corporation’s remittance arm. Reports said BPI has… Read More
BSP exec says ATM system in PH still reliable
December 17, 2019, 4:55 pm
MANILA -- A ranking Bangko Sentral ng Pilipinas (BSP) official assured the public that domestic automated teller machine (ATM) systems remain reliable despite glitches experienced by some banks. In an interview by journalists Tuesday, BSP Deputy Governor Chuchi Fonacier said they are always… Read More
BSP launches P20 coin, enhances P5 coin
December 17, 2019, 2:11 pm
MANILA -- Philippines’ most-used currency denomination, PHP20, now has its coin version and the existing PHP20 bills are estimated to be out of circulation by 2021. In a briefing Tuesday, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said minting the coin is cost-effective than… Read More
BPI Family Savings Bank bond offering raises P9.6B
December 17, 2019, 1:44 pm
MANILA -- BPI Family Savings Bank (BFSB) issued PHP 9.60 billion of bonds and listed them Tuesday on the Philippine Dealing & Exchange Corp. (PDEx). The bonds, which can now be traded in PDEx, are more than four times oversubscribed and represent BFSB’s first ever foray into the capital markets.… Read More
Remittances seen as among peso’s boost this year
December 16, 2019, 9:14 pm
MANILA -- The Philippine peso is expected to receive a boost from the strong inflows of remittances this year, but the situation can reverse next year on projected improvement of imports. In a research note, ING Bank Manila Senior Economist Nicholas Mapa said the local currency has been getting… Read More
Future Supply Chain, Nippon Express sign business deals
December 16, 2019, 8:13 pm
MUMBAI, India and TOKYO (Kyodo JBN-AsiaNet) -- Nippon Express Co., Ltd., acting through its subsidiary Nippon Express (South Asia & Oceania) Pte. Ltd. (Nippon Express), and Future Supply Chain Solutions Limited (FSC), signed a business collaboration agreement (BCA) in Mumbai on December 11 to… Read More
US-China trade talks still affect peso, stocks
December 16, 2019, 7:17 pm
MANILA -- The peso ended sideways against the US dollar on Monday while the Philippine Stock Exchange index (PSEi) started the week on the negative territory as investors await developments on the initial US-China trade deal. The local unit finished the day’s trade at 50.635 from 50.64 close… Read More
Diesel, kerosene prices to go up anew Tuesday
December 16, 2019, 5:28 pm
MANILA -- After last week’s price rollbacks, oil companies will increase fuel prices effective 6 a.m. on Tuesday. In separate advisories, Seaoil, Petro Gazz, PTT Philippines, Petron Corporation and Flying V said they will raise their prices by PHP0.40 per liter on diesel. Seaoil, Petron and… Read More
