Business
ADB maintains PH’s 2019, 2020 growth forecast
December 11, 2019, 6:02 pm
MANILA -- The Asian Development Bank (ADB) has maintained its economic outlook for the Philippines this year and next year even after the economy picked up steam in the third quarter. In its Asian Development Outlook Supplement released Wednesday, the Manila-based bank said growth forecasts… Read More
SEC issues guidelines on revival of expired corporations
December 11, 2019, 5:52 pm
MANILA -- The Securities and Exchange Commission (SEC) has started accepting applications for the revival of expired corporations pursuant to Republic Act 11232, or the Revised Corporation Code of the Philippines. The guidelines on the revival of expired corporations, issued through SEC Memorandum… Read More
BOC ups target collection for Dumaguete port in December
December 11, 2019, 5:37 pm
DUMAGUETE CITY -- The Bureau of Customs (BOC) District Office in Cebu has adjusted the target revenue collection for its sub-port office in Dumaguete toward the end of the year. Dumaguete Customs Collector Fe Lluelyn G. Toring on Tuesday said her office’s target collection is now pegged at… Read More
PH seen to attract investors despite water deal controversy
December 11, 2019, 4:12 pm
MANILA -- National Economic and Development Authority (NEDA) director-general Ernesto Pernia on Wednesday expressed confidence about luring investments to the Philippines despite controversy hounding water concession agreements. “As long as we are implementing correct, fair policies that should… Read More
BPI extends banking hours of some branches this December
December 10, 2019, 9:12 pm
MANILA -- Ayala-led Bank of the Philippine Islands (BPI) on Monday started to extend by an hour the operations of over 100 BPI and BPI Family Savings (BFSB) branches nationwide. In an advisory, the bank said some of its branches will also open on all Saturdays of December to cater to the… Read More
PH 3-year T-bond rate declines
December 10, 2019, 9:10 pm
MANILA -- Higher liquidity situation because of cuts in banks’ reserve requirement ratio (RRR) resulted in the decline of the interest rate of government-issued three-year Treasury bond (T-bond) Tuesday. The rate of the debt paper slipped to 3.724 percent from 3.996 percent the same tenor… Read More
More British firms keen on business opportunities in PH
December 10, 2019, 7:15 pm
MANILA -- More British companies are keen on doing business in the Philippines, encouraged by the country’s growing economy and availability of an educated workforce. British Chamber of Commerce Philippines (BCCP) Executive Chairman Chris Nelson said that in the last five years, over 2,300… Read More
Peso ends sideways, stocks slip anew
December 10, 2019, 6:33 pm
MANILA -- Wait-and-see stance on trade and impeachment issues in the US resulted in another sideways close for the Philippine peso and the negative finish for the local bourse Tuesday. The local currency finished the day’s trade at 50.735 from 50.77 Monday, which a trader attributed to the… Read More
PAL to launch non-stop Manila-Perth route in March 2020
December 10, 2019, 7:34 am
MANILA -- Philippine Airlines (PAL) will offer nonstop flights between Manila and Perth, Australia beginning March 30, 2020, the carrier announced Monday. Using an A321 aircraft, the new route will depart from Manila every Monday, Tuesday, Thursday, and Saturday at 12:05 a.m., and arrive at Perth… Read More
SteelAsia eyes P25-B new investments in aggressive expansion
December 9, 2019, 10:06 pm
MANILA -- SteelAsia Manufacturing Corp., the country’s largest steel producer, plans to invest an additional PHP25 billion to build two more facilities as it embarks on an aggressive expansion drive to meet market demand, and enter the local bourse within two years. “We are capacity… Read More
Cebu City’s sustainable ‘green’ office tower nears completion
December 9, 2019, 9:16 pm
CEBU CITY -- A high-rise tower will soon show a sustainable feature of development in this city equipped with not just sophisticated design to offer a work-and-life balance but will also operate using less water and energy to emit fewer greenhouse gases. This, as the JEG Development Corporation… Read More
POGOs boost office spaces demand in PH in '19
December 9, 2019, 9:14 pm
MANILA -- Demand for office spaces in the Philippines posted a record-high of 1.7 million square meters this year, driven mainly by higher demand from Philippine Offshore Gaming Operator (POGO) industry especially in the second quarter of the year. In a briefing on Monday, Leechiu Property… Read More
Peso ends sideways, stocks slip
December 9, 2019, 9:09 pm
MANILA -- The Philippine peso ended sideways on Monday given the strong jobs report in the US, while the Philippine Stock Exchange index (PSEi) ended in the red ahead of the Bangko Sentral ng Pilipinas (BSP) rate setting meeting on Thursday. The local currency finished the day at 50.77 from… Read More
Oil firms to roll back prices on Tuesday
December 9, 2019, 4:56 pm
MANILA -- Oil companies will cut fuel prices effective 6 a.m. on Tuesday. In advisories, Petro Gazz, Seaoil, and PTT Philippines said they will slash gasoline prices by PHP0.40 per liter, while Flying V will reduce price by PHP0.30 per liter. Petro Gazz, Seaoil, PTT Philippines, and Flying V … Read More
DTI sees 2-4% rise in exports in 2019
December 8, 2019, 6:08 pm
MANILA -- The Department of Trade Industry (DTI) expects exports of goods and services to increase by 2 to 4 percent up to about USD99 billion this year, with services leading the growth. “I think it’s now between 0 to 1 (percent growth); the way it appears, this is for goods only. Because… Read More
Promotion budget for creative industries eyed
December 6, 2019, 8:13 pm
MANILA -- The Department of Trade and Industry (DTI) is pushing for promotion of the economic potential of the country’s creative industries in Southeast Asia to boost exports in services, as the Philippines aims to be the leading creative economy in the region in the next decade. DTI Secretary… Read More
BOC Dumaguete breaches P4-B revenue collections
December 6, 2019, 7:51 pm
DUMAGUETE CITY -- The Bureau of Customs sub-port of Dumaguete has breached the PHP4-billion mark, exceeding more than its target collection set for 2019. Dumaguete Customs Collector Fe Lluelyn Toring said Friday the actual collection of her office from Jan. 1 to Dec. 6 is pegged at more than… Read More
Sun Life executive forecasts within target '19 growth for PH
December 6, 2019, 7:33 pm
MANILA -- An official of Sun Life Philippines remains positive of within-target growth for the Philippine economy this year if government spending sustains its strong growth. In the first three quarters of the year, growth, as measured by gross domestic product (GDP), averaged at 5.8 percent,… Read More
Peso little changed vs. dollar, stocks rise
December 6, 2019, 7:29 pm
MANILA -- The Philippine peso ended the week sideways against the US dollar while the main equities gauge recovered as investors remain on wait-and-see mode on trade issues overseas. The peso closed the week at 50.765 from 50.8 against the greenback Thursday, which a trader pointed to… Read More
New label scouts for potential Southeast Asian artists
December 6, 2019, 7:23 pm
MANILA -- A new record label was launched Friday that would be scouting for potential artists from Southeast Asia. The AirAsia Group has tapped music company Universal Music Group (UMG) in putting up RedRecords, aiming to develop new artists, as well as elevate Asian pop music to audiences across… Read More
