Business
PAL launches 2 new flight routes
December 16, 2019, 4:25 pm
MANILA -- The Philippine Airlines (PAL) on Sunday officially launched two new routes -- Cebu-Zamboanga and Zamboanga-Tawi-Tawi. The new routes expand the flag carrier's network between Visayas and Mindanao and within Mindanao. "There has been a clamor for convenient connectivity between these… Read More
Century Properties gets PSE nod for preferred shares offering
December 16, 2019, 2:53 pm
MANILA -- Listed property developer Century Properties Group, Inc. (CPG) has received the approval of its listing application from the Philippine Stock Exchange (PSE) for its offering of up to PHP3 billion worth of preferred shares. Proceeds of the offering will be used for its expansion into the… Read More
Bank exec sees Mindanao growth picking up in 2020
December 15, 2019, 6:55 pm
DAVAO CITY -- A bank official on Saturday said that there will be continuing growth for Mindanao and Davao in 2020 in terms of bank investments by Overseas Filipino Workers (OFW). Genie Gloria, senior vice president and head of remittance of BDO Unibank, Inc., said they expect an increase in… Read More
D&L products help out firms amid possible single-use plastics ban
December 15, 2019, 5:44 pm
MANILA -- Food and plastic input manufacturer D&L Industries has developed two proprietary product lines which can provide solutions to companies given the potential ban on single-use plastics in the country. Lester Lao, managing director of D&L Polymers & Colours Inc. (DLPC) and First in Colours… Read More
DTI 6 monitors prices of Noche Buena items
December 14, 2019, 4:59 pm
ILOILO CITY -- The Department of Trade and Industry in Western Visayas (DTI 6) has been monitoring the prices of Noche Buena items in the markets, a few days before Christmas day. The suggested retail prices (SRP) on Noche Buena items were released by the DTI on October 31 and will be effective… Read More
BSP eyes lower BOP surplus in '20
December 13, 2019, 9:50 pm
MANILA -- The Philippines is forecast to have a smaller balance of payments (BOP) surplus in 2020, which Bangko Sentral ng Pilipinas (BSP) attributed to projected stronger imports growth on expectations that there will be no issues on the national budget. Citing the projections made by the central… Read More
Stocks, peso rise on latest US-China trade news
December 13, 2019, 8:43 pm
MANILA -- Both the Philippine Stock Exchange index (PSEi) and the peso ended the week on a positive note following reports that the US and China are set to sign the first phase of their trade deal. Reports said the signing of the pact is expected to roll back existing tariff rates on Chinese… Read More
PH gov't, ADB sign 3 new loans to support domestic economy
December 13, 2019, 7:35 pm
MANILA -- The government’s growth strategy received another boost Friday after the signing of three loan agreements amounting to USD623.3 million between the Philippine government and the Manila-based Asian Development Bank (ADB). These agreements are the USD400-million loan for Facilitating… Read More
PCC clears circuit-maker’s buyout of shares in Hitachi PH
December 13, 2019, 7:21 pm
MANILA -- The Philippine Competition Commission (PCC) has approved the acquisition by circuit board-maker Mikuni Toyo Co., Ltd. (Mikuni Toyo) of 100 percent of shares of ATM module assembler Hitachi Terminals Mechatronics Philippines Corporation (Hitachi), seeing the transaction as not likely to… Read More
SEC-Bacolod clarifies role in bus firm’s stockholders’ meeting
December 13, 2019, 12:15 pm
BACOLOD CITY -- The Securities and Exchange Commission (SEC) here has clarified its role during the stockholders’ meeting conducted by the four Yanson siblings, who are part owners of the country’s biggest bus transport company. Lawyer Annabelle Corral-Respall, officer-in-charge of SEC-Bacolod… Read More
Volunteer sector urged to support PH dev't initiatives
December 12, 2019, 9:17 pm
MANILA -- The country’s chief economist on Thursday called for the participation of volunteers on the response to disasters and other immediate needs, as well as on development programs and agenda. “In times of disasters, volunteerism is always at the front line, ensuring that help is… Read More
BSP maintains key policy rates
December 12, 2019, 8:09 pm
MANILA -- Philippine monetary officials on Thursday kept the Bangko Sentral ng Pilipinas’ (BSP) key policy rates, as they continue to see benign inflation environment and firm domestic output. Rate of the overnight reverse repurchase (RRP) facility is still at 4 percent, the overnight… Read More
BSP seen to resume easing mode by February '20
December 12, 2019, 8:06 pm
MANILA -- The Bangko Sentral ng Pilipinas (BSP) is expected to start slashing key policy rates by February 2020 after keeping rates steady since the last cut last September. In a report Thursday, ING Bank Manila senior economist Nicholas Mapa said the policy-making Monetary Board’s (MB)… Read More
Peso improves, stocks slip
December 12, 2019, 8:03 pm
MANILA -- The Philippine peso ended stronger against the US dollar on Thursday following news that Federal Reserve expects to be on neutral mode next year as it considers current rates low enough to boost economic growth, while the main equities index ended on the red. The local currency finished… Read More
PAL, Smart surprise arriving passengers from Doha, Riyadh
December 12, 2019, 7:13 pm
MANILA -- More than 200 Filipinos from Doha and Riyadh were given simple treats upon their arrival at the Ninoy Aquino International Airport (NAIA) on Thursday. Philippine Airlines (PAL) and Smart have teamed up for this surprise, wherein the said passengers received a gift bag, and were treated… Read More
ADB loan boosts PH's fight vs. anti-competition practices
December 11, 2019, 9:47 pm
MANILA -- The Philippine Competition Commission (PCC) has secured USD23.3-million loan from the Asian Development Bank (ADB) to help build its capacity and of other government agencies to promote healthy business competition in the country. PCC chairperson Arsenio Balisacan said the loan will… Read More
Dominguez eyes positive outcome for proposed '20 nat’l budget
December 11, 2019, 7:02 pm
MANILA -- Finance Secretary Carlos Dominguez III is optimistic of a fresh start in 2020 vis-à-vis the outcomes of budget deliberations. “Clearly, much improvement over last year so we’re quite pleased that we will start the year with honest to goodness 2020 budget rather than what happened… Read More
Term deposit rates mixed anew
December 11, 2019, 7:00 pm
MANILA -- The rates of Bangko Sentral ng Pilipinas’ (BSP) term facilities ended mixed anew on Wednesday, with undersubscription registered in the longest-tenor facilities. The rate of the seven-day term deposit facility (TDF) rose to 4.3040 percent from 4.2834 percent during the auction last… Read More
Stocks recover, peso ends sideways
December 11, 2019, 6:58 pm
MANILA -- The Philippine Stock Exchange index (PSEi) recovered Wednesday after a two-day slide while the peso continued its sideways close against the US dollar as investors kept their wait-and-see stance on developments primarily in the US. The main equities gauge improved by 0.65 percent, or… Read More
Economic team lowers 2019 growth goal to 6-6.5%
December 11, 2019, 6:09 pm
MANILA -- Economic managers on Wednesday trimmed the range of growth target to 6 to 6.5 percent this year, and 6.5 to 7.5 percent for 2021-2022 partly due to fiscal prudence. In a briefing after the 177th Development Budget Coordination Committee (DBCC) meeting at the Department of Finance (DOF)… Read More
