Business
SEC eyes release of REIT rules by early 2020
December 1, 2019, 12:17 pm
MANILA -- The Securities and Exchange Commission (SEC) has completed the final draft amendments to the implementing rules and regulations (IRR) of the Real Estate Investment Trust (REIT) law as it aims to launch the product early next year. SEC Commissioner Ephyro Luis Amatong said the corporate… Read More
SEC approves ACE Medical Center-Legazpi IPO
December 1, 2019, 11:39 am
MANILA -- The Securities and Exchange Commission (SEC) has approved the application of Allied Care Experts (ACE) Medical Center–Legazpi, Inc. for a PHP1-billion initial public offering (IPO). In its meeting on Nov. 26, the commission en banc resolved to render effective the registration… Read More
NEDA Board approves P187.34-B new projects
November 29, 2019, 8:46 pm
MANILA -- The National Economic and Development Authority (NEDA) Board approved on Friday seven new projects amounting to PHP187.34 billion, which include three projects from the Department of Transportation (DOTr), three projects of Department of Public Works and Highways (DPWH), and one to be… Read More
BSP forecasts November ’19 inflation between 0.9-1.7%
November 29, 2019, 8:03 pm
MANILA -- Philippine monetary officials’ projection that domestic inflation might have bottomed out last October can be seen in their forecast for November 2019, with the range set between 0.9 to 1.7 percent. This range is higher than the 0.8-percent inflation rate last October but way lower… Read More
PSEi, peso end week lower on risk-off sentiment
November 29, 2019, 7:58 pm
MANILA -- Philippine equities ended in the red Friday while the peso weakened with trade concerns still the main factor for the risk-off sentiment. The Philippine Stock Exchange index (PSEi) declined anew by 0.38 percent, or 29.70 points, to 7,738.96 points. All Shares followed with a drop of… Read More
Dominguez cites spending vis-a-vis GDP goal achievement
November 29, 2019, 7:51 pm
MANILA -- The Department of Public Works and Highways (DPWH) and the Department of Transportation’s (DOTr) efforts to meet their spending program despite the budget delay are big contributors to achieving the 6 percent to 7 percent growth target this year. This was stressed by Finance Secretary… Read More
Firm notes importance of reliable, secure biometrics
November 29, 2019, 7:28 pm
MANILA -- Identity solutions provider, HID Global, has noted the importance of reliable and secure biometrics as it introduced its new fingerprint reader to the Philippine market. Voice, facial recognition, and fingerprint are among the trusted things to identify a person's identity, said HID… Read More
Confed proposes measures to address sugar industry challenges
November 29, 2019, 1:49 pm
MANILA -- The Confederation of Sugar Producers Associations, Inc. (Confed) has recommended several proposals, an offshoot of a consultative workshop set in February 2020, to address the challenges faced by the sugar industry including on import liberalization. The proposals, in a form of a… Read More
DMCI Homes named Best Developer for Luzon at The Outlook Awards
November 29, 2019, 1:18 pm
MANILA -- DMCI Homes was adjudged as the Best Developer for Luzon in this year’s The Outlook Awards: Philippine Buyers’ Choice Property Awards. Organized by real estate portal Lamudi, DMCI Homes beat 18 other property developers for the grand award which is given to the developer that… Read More
Peso rises, stocks dip on US' pro-HK legislation
November 28, 2019, 7:45 pm
MANILA -- Seasonal inflows of remittances from overseas Filipinos buoyed the Philippine peso on Thursday but concerns on the impact of a US legislation that supports Hong Kong pro-democracy protesters resulted in the reversal of the main equities index. The local currency ended the day at 50.705… Read More
Taiwanese firm seeks DENR approval on mercury-free gold mining
November 28, 2019, 6:14 pm
MANILA -- Taiwanese firm Xin Ye Precious Metal Technology Co. Ltd., through its local subsidiary Philippine Xi Ye Industry Ltd. Inc., urged the Department of Environment and Natural Resources (DENR) to approve its eco-friendly, cyanide-free ore stripping technology for small-scale gold mining… Read More
Countryside dev't to boost PH inclusive growth
November 28, 2019, 3:08 pm
CAGAYAN DE ORO CITY -- The Philippines must harness the potential of the countryside as a way to boost inclusive growth. During panel discussions, SteelAsia chairperson Benjamin Yao pushed for countryside industrialization, citing its inclusivity and contribution to the reduction of… Read More
Adoption of renewable energy gaining ground in PH, Taiwan
November 27, 2019, 9:57 pm
TAIPEI, Taiwan -- Renewable energy’s (RE) contribution on Philippines’ total energy mix remains small, thus, it is working to increase such share to the overall supply, but the country is not alone on this effort, an official of a power station here said. In a briefing here Tuesday,… Read More
Lufthansa PH breaks ground new hangar for expansion
November 27, 2019, 8:50 pm
MANILA -- Lufthansa Technik Philippines (LTP) on Wednesday held a groundbreaking ceremony of a new hangar, to be called Hangar 1A, at its hub in Pasay City. The creation of Hangar 1A would increase LTP's capacity by 20 percent and would also result in employment of additional 300 technicians, LTP… Read More
MAPFRE Insurance eyes increased use of digital platforms
November 27, 2019, 7:49 pm
MANILA -- Non-life insurance company MAPFRE Insurance will introduce more digital services next year as it aims to increase its clients by 30 percent from the current 200,000. “By next year, we will continuously invest in digital platforms, especially in claims servicing. It’s more about our… Read More
Peso, stocks rise on optimism over US-China trade deal
November 27, 2019, 7:19 pm
MANILA -- The Philippine peso improved against the greenback along with the Philippine Stock Exchange index (PSEi) Wednesday on optimism over a trade deal between the US and China. The local currency ended the day at 50.80 from 50.90 Tuesday, which BPI Research attributed to news reports citing… Read More
PH on par with other counties on power plant technology
November 27, 2019, 7:14 pm
TAIPEI, Taiwan -- The Philippines is not behind other countries in terms of the adoption of latest technology for power plants, an official of a power station here said. Linkou Power Deputy Plant General Manager Ru-Chin Chou said since the Philippines already has a supercritical coal-fired… Read More
SEC okays Vista Land, Cirtek Holdings debt offerings
November 27, 2019, 7:11 pm
MANILA -- The Securities and Exchange Commission (SEC) has given Vista Land & Lifescapes, Inc. and Cirtek Holdings Philippines Corp. the green light to pursue their planned offering of debt securities. In its Nov. 26 meeting, the commission en banc considered favorably the respective… Read More
Term deposit facility rates mixed anew
November 27, 2019, 4:43 pm
MANILA -- Undersubscription was registered for the Bangko Sentral ng Pilipinas’ (BSP) seven-day facility on Wednesday, but the tenor's average rate rose, unlike those of the other facilities. Data released by the central bank showed that the rate of the seven-day term deposit facility (TDF)… Read More
Solon wants to lower required capital for foreign retailers
November 27, 2019, 3:46 pm
MANILA –A lawmaker at the House of Representatives on Wednesday said it is high time to open the retail trade sector to foreign competition by lowering the capital requirements for foreign retailers. Marikina Rep. Stella Luz Quimbo said despite a law that was passed in 2000 to liberalize retail… Read More
