Business
IMF keeps ’19 GDP forecast for PH at 5.7%
November 18, 2019, 9:33 pm
MANILA -- The International Monetary Fund (IMF) has maintained its 2019 growth forecast for the Philippines at 5.7 percent and raised its 2020 projection to 6.3 percent from 6.2 percent previously. In a briefing Monday, Thomas Helbling, mission chief of the IMF Article IV Consultation to the… Read More
Peso little changed, stocks slip anew
November 18, 2019, 9:29 pm
MANILA --The peso ended Monday sideways against the US dollar but the Philippine Stock Exchange index (PSEi) ended on the red still on trade-related issues. The local currency finished the week’s first trading day at 50.66 from 50.65 Friday last week, which BPI Research traced to the impact of… Read More
Grab ordered to pay P5.05-M refund to customers
November 18, 2019, 7:37 pm
MANILA -- The Philippine Competition Commission (PCC) on Monday ordered ride-sharing company Grab Philippines to refund PHP5.05 million to its riders for breaching its voluntary pricing commitments. “The PCC has imposed a total fine of PHP23.45 million on Grab for breaching its pricing… Read More
BSP execs cite need for digital payments
November 18, 2019, 7:31 pm
MANILA -- Philippine monetary officials are taking advantage of Filipinos’ strong acceptance of the online world to push further the central bank’s digital payments and financial inclusion programs. Citing the results of the September 2019 Global Web Index Report, Bangko Sentral ng Pilipinas… Read More
BPI eyes 20% growth of sustainable financing loan
November 18, 2019, 5:03 pm
MANILA -- Officials of Ayala-led Bank of the Philippine Islands (BPI) aim to grow their sustainable financing loans by 20 percent from the current PHP130 billion by next year. During the launch of the bank’s sustainable finance development program, BPI Business Banking head Junie Veloso said… Read More
Another airport proposed in Iloilo’s Passi City
November 18, 2019, 4:47 pm
ILOILO CITY -- Iloilo province’s component city of Passi is considering the establishment of an airport to further promote economic growth in the region. In a phone interview Monday, Passi City Mayor Stephen Palmares said the plan to build an airport is a proof that the local government is… Read More
Gasoline prices up, diesel down on Nov. 19
November 18, 2019, 2:28 pm
MANILA -- Oil companies are set to implement price adjustments effective 6 a.m. on Tuesday. In an advisory Monday, Seaoil and Flying V said it will increase gasoline price by PHP0.80 per liter but reduce diesel price by PHP0.30 per liter and kerosene by PHP0.20 per liter. Over the weekend, Petron… Read More
Megawide keen on Sangley airport, commuter rail projects
November 17, 2019, 5:48 pm
MANILA -- Infrastructure conglomerate Megawide Construction Corporation is keen on participating in the development of the Sangley Point International Airport and the North-South Commuter Railway’s (NSCR) south line, as it targets to secure up to PHP25 billion worth of new contracts next year.… Read More
AirAsia PH increases flight frequencies for Christmas season
November 17, 2019, 12:12 pm
MANILA -- AirAsia Philippines has announced its plan to increase flight frequencies of three of its top destinations this holiday season. From December 1, 2019 until January 31, 2020 travelers between Manila and Davao, Iloilo, and Cebu can look forward to more flight schedules to avail of. As per… Read More
Waste-to-energy facilities set for Cebu, Pangasinan
November 16, 2019, 11:44 am
MANILA -- Power consumers from Pangasinan and Cebu are set to benefit from the three waste-to-energy facilities that are worth USD230 million and are expected to begin operations by 2022. In an interview on the sidelines of the Waste-to-Energy Summit held in Quezon City on Friday, Integrated Green… Read More
Peso stays firm vs. dollar; PSEi falls
November 15, 2019, 9:26 pm
MANILA – The Philippine peso ended the week little changed against the US dollar but the main equities index lost again on investors’ worries on the US-China trade discussions. The local currency ended the trade at 50.65 from 50.68 finish a day ago, which BPI Research partly attributed to the… Read More
SEC orders takeover of collapsed stock brokerage
November 15, 2019, 8:46 pm
MANILA -- The Securities and Exchange Commission (SEC) has ordered Capital Markets Integrity Corp. (CMIC), the independent audit, surveillance and compliance arm of the Philippine Stock Exchange (PSE), to take over the operations of R&L Investments, Inc. to protect affected customer… Read More
Megawide sees stronger 2020 earnings as 9-month profit falls
November 15, 2019, 5:13 pm
MANILA -- Diversified engineering and infrastructure conglomerate, Megawide Construction Corporation on Friday reported a 51.44-percent decline in net income during the first nine months of 2019 but was optimistic of strong earnings growth next year amid continued recovery in construction.… Read More
Better coordination among agencies to boost agri employment
November 15, 2019, 4:43 pm
MANILA – Smart policy responses and better coordination among government agencies will help curb employment losses in the agricultural sector, a National Economic and Development Authority study said. The results of “Rural Labor Migration: An Analysis of the Loss of the Labor in the… Read More
4 domestic flights cancelled due to bad weather
November 15, 2019, 3:10 pm
MANILA -- At least four domestic flights were cancelled on Friday due to bad weather, the Manila International Airport Authority (MIAA) reported. These flights were Skyjet (M8) 816/817 Manila-Basco-Manila, and CebGo 6113/6114 Manila-Naga-Manila. The Philippine Atmospheric, Geophysical and… Read More
AllHome nets P746.2-M in 9 months
November 14, 2019, 9:30 pm
MANILA -- AllHome Corp., a pioneering one-stop shop home store in the Philippines, booked a record growth of 225 percent in net income for the first nine months of 2019 to PHP746.2 million from PHP229.7 million in the same period last year. The company said its total revenues also increased by 72… Read More
Peso recovers, PSEi hurt by US-China trade issues anew
November 14, 2019, 9:17 pm
MANILA – Philippine peso improved to the greenback Thursday but concerns on the US-China trade discussions hurt the Philippine Stock Exchange index (PSEi) anew. The local currency ended the day at 50.68 from 50.82 a day ago, which a trader pointed to reports about Federal Reserve chairman… Read More
BSP cuts '19 average inflation projection
November 14, 2019, 8:53 pm
MANILA -- The Bangko Sentral ng Pilipinas’ (BSP) policy-making Monetary Board (MB) on Thursday lowered to 2.4 percent the central bank’s average inflation forecast for this year from 2.5 percent previously. “In the discussion, it was noted that inflation is likely to have bottomed out in… Read More
DTI seeks P300-M to bankroll law providing benefits for startups
November 14, 2019, 8:52 pm
MANILA -- The Department of Trade and Industry (DTI) is pushing a PHP300-million budget for the implementation next year of a new law providing incentives to registered startup companies, as it hopes to release its implementing rules and regulations (IRR) within this month. DTI-Competitiveness and… Read More
BSP keeps key rates steady
November 14, 2019, 8:49 pm
MANILA -- Philippine monetary officials on Thursday kept key rates unchanged as expected as they forecast within-target inflation rate until 2021 and sustained firm domestic growth. Bangko Sentral ng Pilipinas (BSP) Deputy Governor Francisco Dakila Jr. said the policy-making Monetary Board (MB)… Read More
