Business
7 Asean leaders skip summit with US
November 4, 2019, 5:46 pm
BANGKOK -- Seven out of the 10 leaders of the Association of Southeast Asian Nations (Asean) were noticeably absent at the Asean-US Summit in Bangkok, at which a Washington representative read out an invitation from President Donald Trump to visit the United States for a separate "special… Read More
SM Prime nets P27.6-B in first 9 months of 2019
November 4, 2019, 4:49 pm
MANILA -- SM Prime Holdings, Inc. (SM Prime), one of the largest integrated property developers in Southeast Asia, recorded an 18-percent growth in its consolidated net income in the first nine months of 2019 to PHP27.60 billion from PHP23.44 billion during the same period last year. Its… Read More
Joint venture offers remittance transfers for unbanked
November 4, 2019, 4:16 pm
MELBOURNE, Australia -- VaultID Group Ltd creates a financial and digital footprint for the "unbanked". VaultID's application 'myVault' enables the onboarding of potential consumers through a mix of traditional KYC/AML systems, enhanced with biometric image to document scanning and in-government… Read More
Li urges China, Asean to uphold multilateralism, free trade
November 4, 2019, 3:20 pm
BANGKOK -- Chinese Premier Li Keqiang on Sunday called on China and Asean to uphold multilateralism and free trade, resist risks, and realize common development at the 22nd China-ASEAN (10+1) leaders' meeting in Bangkok. Since China and Asean established dialogue relations, they have brought… Read More
RCEP talks near conclusion: DTI chief
November 3, 2019, 11:53 am
Nonthaburi, THAILAND -- Association of Southeast Asian Nations (Asean) trade ministers expect to give a positive report on the proposed Regional Comprehensive Economic Partnership (RCEP) to Asean leaders on Monday despite some issues with one country. In a briefing Saturday at the sidelines of the… Read More
Nat'l gov't to help LGUs in quake-hit areas: Dominguez
November 3, 2019, 11:39 am
MANILA -- Treasurers and assessors from earthquake-affected areas in Mindanao have been directed to immediately submit damage reports to determine rehabilitation financing requirements. This was disclosed by Finance Secretary Carlos Dominguez III in a Viber message to journalists Friday. He said… Read More
PH envoy hopes for fast resolution of Asean security issues
November 2, 2019, 5:40 pm
NONTHABURI, Thailand -- The Philippine ambassador to Thailand has highlighted the need for the immediate resolution of regional security issues to ensure sustained economic expansion in the Association of Southeast Asian Nations (Asean). The Code of Conduct in the South China Sea is expected to be… Read More
Stronger gov't, private sector partnership needed in digital era
November 2, 2019, 5:30 pm
NONTHABURI, Thailand -- Closer coordination among member-states of the Association of Southeast Asian Nations (Asean) and the private sector will be the driving force that will help address issues caused by technological innovations, Asean - Business Advisory Council (Asean-BAC) chairman Arin Jira… Read More
PH to be protected under the proposed RCEP
November 2, 2019, 11:59 am
NONTHABURI, Thailand -- Safeguards included in the proposed Regional Comprehensive Economic Partnership (RCEP) between the Asean and six major economies are seen to protect the Philippines, among others, from greater economic competition. “I would suppose that gains by the Philippines from the… Read More
Economist eyes better bank lending growth by yearend
November 1, 2019, 4:17 pm
MANILA – An economist of Security Bank Corporation (Security Bank) forecasts faster growth for domestic liquidity and bank lending by end-2019 because of the cuts in banks’ reserve requirement ratio (RRR) and on policy rates. In a report, Security Bank chief economist R. Dan J. Roces said the… Read More
DOF execs not yet briefed on plan to hike tax on salty foods
November 1, 2019, 3:39 pm
MANILA -- Finance officials have yet to meet with health officials regarding the plan to slap additional taxes on salty food products. “(We) have to discuss thoroughly with them,” Finance Secretary Carlos Dominguez III told journalists in a text message Friday. Health Secretary Francisco Duque… Read More
BSP eyes October ’19 inflation at 0.5% to 1.3%
October 31, 2019, 6:43 pm
MANILA -- Philippine monetary officials forecast October 2019 inflation to decelerate to as much as 0.5 percent, slower than the 0.9 percent last September, but the upper end of the projection range for this month is 1.3 percent. In a statement Thursday, the Bangko Sentral ng Pilipinas (BSP) said… Read More
DBP installs ATMs in underbanked Palawan towns
October 31, 2019, 4:01 pm
MANILA -- In support of the national government’s efforts to promote greater financial inclusion, state-owned Development Bank of the Philippines (DBP) recently installed offsite automated teller machines (ATMs) in the underbanked municipalities of Quezon and Narra in Palawan, a top official… Read More
D.M. Wenceslao 9-month net income hits P1.65-B
October 30, 2019, 9:24 pm
MANILA -- Construction and infrastructure group D.M. Wenceslao & Associates Incorporated on Wednesday reported its net income increased by 11 percent to PHP1.65 billion in the first nine months of 2019 from PHP1.49 billion in the same period last year. Its revenues surged 21 percent year-on-year… Read More
Cusi cites need to tap all energy sources
October 30, 2019, 8:55 pm
MANILA -- Energy Secretary Alfonso Cusi on Wednesday underscored the importance of tapping energy from all possible sources, including nuclear, as the country lacks adequate capacity to date.In his speech during the handover ceremony for the Official Phase 1 Mission Report of the Integrated… Read More
Coconut products maker expands spray-drying line in Misamis plant
October 30, 2019, 7:15 pm
MANILA -- Integrated coconut manufacturer Axelum Resources Corp. has completed the expansion of the spray-drying line in its plant in Medina, Misamis Oriental, as it prepares for the growing global market for coconut-based products. Axelum president Henry Raperoga said the PHP250-million project… Read More
Peso, stocks rise ahead of Fed rate decision
October 30, 2019, 5:30 pm
MANILA -- Expectations of another cut in Federal Reserve’s key rates after its October 29-30 meeting lifted the Philippine peso anew Wednesday while the risk-on sentiment also boosted the main equities index.The local currency finished the day at 50.885 from 51.09, which Rizal Commercial Banking… Read More
Cusi reminds companies on proper registration
October 30, 2019, 4:40 pm
MANILA -- Companies that want to operate in the energy sector need to register with the Department of Energy (DOE) for it to be endorsed properly with the Securities and Exchange Commission (SEC).This was pointed out by Energy Secretary Alfonso Cusi after the department received reports of… Read More
LPG, kerosene price freeze in Digos City
October 30, 2019, 3:40 pm
MANILA – The Department of Energy (DOE) on Wednesday reminded businessmen and the public against any changes in the prices of liquefied petroleum gas (LPG) and kerosene in Digos City, Davao del Sur.“A State of Calamity (SOC) was raised in Digos City, Davao del Sur today (30 October). Thus, a… Read More
BSP holds confab on global economic trends
October 30, 2019, 3:12 pm
BUTUAN CITY -- With the aim of keeping the financial sector, the academe, and other stakeholders in the Caraga region well-informed on the trends and outlooks in the global economic environment, the Bangko Sentral ng Pilipinas (BSP) conducted the Conference on Gearing Up for External… Read More
