Business
Closing infra gap key to achieving high-income status: PCOO exec
November 14, 2019, 5:10 pm
MANILA -- Increased government spending, particularly for infrastructure, is pump-priming the economy, paving the way for the Philippines to become a high-income country, government officials said. In a Palace economic briefing on Wednesday, Presidential Communications Operations Office (PCOO)… Read More
Global Ferronickel nets P805-M in 9 months
November 13, 2019, 9:19 pm
MANILA -- Global Ferronickel Holdings, Inc. (FNI), the second largest nickel ore exporter in the Philippines, saw its revenue and net income increase in the first nine months of 2019 buoyed by higher nickel ore prices. In a statement, FNI said net income jumped by 35 percent to PHP804.95 million… Read More
LT Group profit up 17% to P14.72-B
November 13, 2019, 9:19 pm
MANILA -- LT Group, Inc. booked a 17-percent increase in net income in the first nine months of 2019, driven by higher earnings from its tobacco business. In a statement, the conglomerate said on Wednesday its attributable net income reached PHP14.72 billion in January to September from PHP12.57… Read More
PH gov’t boosts commitments in reproductive health
November 13, 2019, 8:47 pm
MANILA -- The Philippine government has reinforced its international commitments to improve programs in reproductive health in the country, and presented the milestones and policies already in place leading to real outcomes. “We are one with the world in renewing with rigor our commitments to… Read More
Worries on US-China trade talks hit stocks, peso anew
November 13, 2019, 7:41 pm
MANILA -- Uncertainties on US-China trade talks spooked investors anew, resulting in the negative close of the Philippine Stock Exchange index (PSEi) and weakening of the peso Wednesday. The main equities index shed 0.81 percent, or 64.87 points, to 7,947.47 points. The BPI Research attributed the… Read More
DA implements stricter SPS import clearance on rice
November 13, 2019, 5:54 pm
MANILA -- The Department of Agriculture (DA) will be implementing stricter sanitary and phytosanitary (SPS) measures on the issuance of import clearance to address the huge entry of imported rice and curb poor quality rice imports. “I have signed it (guidelines on the issuance of SPS)… Read More
TDF rates up this week
November 13, 2019, 5:31 pm
MANILA -- Rates of the Bangko Sentral ng Pilipinas’ (BSP) term deposit facility (TDF) rose across-the-board Wednesday despite the undersubscription for the shortest tenor. Data released by the central bank showed that rate of the seven-day facility ticked-up to 4.2264 percent from 4.1923 percent… Read More
DMCI Holdings profit down 11% to P9.3-B
November 13, 2019, 3:28 pm
MANILA -- Diversified engineering conglomerate DMCI Holdings, Inc. saw its earnings drop 11 percent from PHP10.4 billion to PHP9.3 billion in the first nine months of the year, owing to lower income contributions from Semirara Mining and Power Corporation (SMPC), D.M. Consunji, Inc. (DMCI), and… Read More
ING Bank economist eyes steady BSP policy rate
November 13, 2019, 2:29 pm
MANILA -- An economist of ING Bank N.V. Manila forecasts the Bangko Sentral ng Pilipinas (BSP) to keep key rates steady this week, but will resume its easing moves starting the first quarter of 2020 if 2019 domestic growth falls below target. In a report Friday, ING Bank N.V. Manila senior… Read More
Stocks, peso stay firm
November 12, 2019, 8:30 pm
MANILA -- The Philippine Stock Exchange index (PSEi) barely rose Tuesday along with the local currency as investors stayed on the sidelines vis-à-vis latest developments overseas. The PSEi increased by 0.04 percent, or 2.96 points, to 8,012.34 points. All Shares index shed 0.01 percent, or 0.66… Read More
Ayala Land to spend P18-B to develop Tarlac estate
November 12, 2019, 7:33 pm
MANILA -- Property developer Ayala Land Inc. (ALI) will invest PHP18 billion to transform a 290-hectare property in Tarlac into an integrated mixed-use estate over the next 10 to 15 years. In a press briefing on Tuesday, Cresendo estate head John Estacio said the firm will initially spend PHP5.5… Read More
Stakeholders laud Senate resolution on sugar liberalization
November 12, 2019, 6:54 pm
MANILA -- Stakeholders on Tuesday lauded the passing of a Senate resolution opposing the planned liberalization of the sugar industry. In a statement, Sugar Regulatory Administration (SRA) Board member Dino Yulo said as representative of the sugar producers, "the overwhelming support of our… Read More
PH authorities freeze over P1-B worth of assets
November 12, 2019, 5:22 pm
MANILA -- Philippine authorities have frozen more than PHP1 billion worth of assets from January 2018 until July 2019, and PHP52 million of these are terrorism funds. This was disclosed by Anti-Money Laundering Council (AMLC) Executive Director Mel Georgie Racela in his welcome remarks during the… Read More
DTI enjoins youth to participate in skills dev't confab in Cebu
November 12, 2019, 4:00 pm
CEBU CITY -- Believing in their potentials to become future entrepreneurs, the Department of Trade and Industry (DTI) in Central Visayas is seeking out the youth in the region to participate in a program that would hone their entrepreneurial skills. Maria Elena Arbon, assistant regional director… Read More
Stocks, peso end lower
November 11, 2019, 7:48 pm
MANILA -- The local stock barometer opened the week on a weak note, mirroring losses of regional peers amid increasingly violent protests in Hong Kong, while the peso closed slightly lower against the dollar. The Philippine Stock Exchange index (PSEi) lost 56.38 points or 0.70 percent to 8,009.38… Read More
Buy local, eat local, Filipinos urged
November 11, 2019, 4:49 pm
MANILA -- Amid the African Swine Fever (ASF) that affected local pork meat, the government is urging Filipinos, who are now turning into chicken as their source of meat, to buy locally produced agricultural products. Agriculture Secretary William Dar said buying local produce, especially rice can… Read More
NFA assures good quality rice sold in market
November 11, 2019, 4:42 pm
MANILA -- The National Food Authority (NFA) on Monday assured the public that the agency releases only good quality rice stocks for sale at PHP27 per kilogram in public markets. In a statement, NFA Administrator Judy Carol Dansal said the agency takes good care of its stocks through good… Read More
Frabelle Group eyes multi-billion port project in Cadiz City
November 11, 2019, 1:31 pm
BACOLOD CITY -- The Tiu-Laurel family-owned Frabelle Group of Companies has proposed to develop an international port project costing PHP7 billion to 8 billion in Cadiz City, located in northern Negros Occidental. Mayor Salvador Escalante Jr. said the proposal will undergo a Swiss challenge,… Read More
Vista Land posts P9.1-B net income in 9 months
November 10, 2019, 4:43 pm
MANILA -- Vista Land & Lifescapes, Inc., one of the country’s leading integrated property developers, posted a 12-percent growth in net income for the first nine months of 2019 to PHP9.1 billion from PHP8.1 billion in the same period last year. Consolidated revenues also increased year-on-year… Read More
DTI seeks probe on substandard construction materials
November 10, 2019, 4:31 pm
MANILA -- Department of Trade and Industry (DTI) Secretary Ramon Lopez has committed to investigate the alleged proliferation of substandard steel and cement products amid the damage left in the wake of the recent earthquakes in Mindanao. “We welcome this call and shall fully cooperate and… Read More
