Business
Global economic outlook depends on path charted by nations
October 29, 2019, 10:39 pm
RIYADH -- Underlining that economic uncertainty is an offshoot of "unbalanced" multilateral trade systems, Prime Minister Narendra Modi has asserted that the global economic outlook is strongly dependent on the path charted by large developing countries, such as India and Saudi Arabia. Earlier… Read More
BPI exec eyes 50% of clients in digital platform by yearend
October 29, 2019, 8:52 pm
MANILA -- An official of the Ayala-led Bank of the Philippine Islands (BPI) said he hopes that half of their account holders would shift to digital transactions by the end of the year. In a briefing on Tuesday, BPI Chief Operating Officer Ramon Jocson said they have 8.5 million accounts, 1.8… Read More
Stocks rise, peso little changed vs. dollar
October 29, 2019, 8:28 pm
MANILA -- The Philippine Stock Exchange index (PSEi) rose for the second consecutive day Tuesday while the peso ended almost flat on investors’ wait-and-see stance on the next Federal Reserve move. The main equities index gained 0.56 percent, or 44.66 points, to 7,991.19 points. Regina Capital… Read More
Norwegian shipowners see stable hiring of seafarers
October 29, 2019, 7:58 pm
MANILA -- An employers’ group for Norwegian shipping and offshore companies is concerned the trade war between the United States and China can have an impact on the shipping industry if it lingers for five years, but sees stable recruitment of seafarers in the Philippines. Harald Solberg, chief… Read More
BSP invests US$150-M in green bonds
October 29, 2019, 5:21 pm
MANILA -- The Bangko Sentral ng Pilipinas (BSP) has placed USD150 million in the green bond fund launched by the Bank of International Settlements (BIS). In a statement Tuesday, the central bank said it is “proud to be a member of the advisory committee created by the BIS to give guidance on… Read More
SEC issues cease and desist order vs. 6 online lending operators
October 28, 2019, 9:58 pm
MANILA -- The Securities and Exchange Commission (SEC) continues to stamp out illegal lending activities with another cease and desist order covering six online lending operators. The Commission en banc issued the order on October 24, enjoining the operators and owners of Batis Loan, Happy… Read More
SBMA takes over undeveloped property of Ocean Adventure
October 28, 2019, 9:01 pm
SUBIC BAY FREEPORT, Philippines -- The Subic Bay Metropolitan Authority (SBMA) on Monday took over undeveloped portions of property belonging to Ocean Adventure as part of its implementation of contract pre-termination order. This prompted the parent company of Ocean Adventure to ask SBMA not to… Read More
BSP cuts volume of term deposit offering
October 28, 2019, 7:04 pm
MANILA -- The Bangko Sentral ng Pilipinas (BSP) lowered by PHP10 billion its term deposit facility (TDF) offering this week to PHP80 billion relative to the previous week’s offer. Data released by the central bank showed the seven-day and 28-day facilities will be offered for PHP30 billion,… Read More
Peso, stocks start week on strong note
October 28, 2019, 7:02 pm
MANILA -- The Philippine peso ended the week’s first trading day better against the greenback while the Philippine Stock Exchange index (PSEi) recovered on the back of positive trade-related news overseas. The local currency ended Monday at 51.08 from 51.135 Friday last week. BPI Research… Read More
PH firms urged to use licensed computer software
October 28, 2019, 6:10 pm
MANILA -- A partnership between software industry group Business Software Alliance (BSA) and the Optical Media Board (OMB) plans to eliminate the use of illegal software among Philippine businesses, citing risks to corporate security and reputation. In a briefing Monday, BSA Senior Director for… Read More
Economist sees PH growth recovery starting Q3 '19
October 28, 2019, 4:55 pm
MANILA -- Improvement in government expenditures is expected to boost domestic growth to the 6 percent level starting in the third quarter of 2019 after the slowdown in the first half, according to an economist of a local bank. In a reply to e-mailed questions from the Philippine News Agency… Read More
Another oil price rollback set this week
October 28, 2019, 4:36 pm
MANILA -- Several oil companies have announced another price reduction effective 6 a.m. on Tuesday. In advisories, Petro Gazz, Seaoil and PTT Philippines said they will cut gasoline prices by PHP0.45 per liter and diesel by PHP0.10 per liter. Diesel price declined for a fifth straight week given… Read More
RRR cuts to support PH 6% growth, peso: economist
October 26, 2019, 7:37 pm
MANILA - An economist of a local bank expects better results for the Philippine economy and the peso this 2019 following the series of cuts in banks’ reserve requirement ratio (RRR). Rizal Commercial Banking Corporation (RCBC) lead economist Michael Ricafort, in a reply to an e-mail from the… Read More
Diokno urges AMLC to meet shortcomings on AML, CTF standards
October 26, 2019, 7:18 pm
MANILA – Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno has urged the Anti-Money Laundering Council (AMLC) to ensure a positive end of the 12-month observation period for the Mutual Evaluation Report (MER). In his speech during AMLC’s 18th-anniversary celebration on October 23, the… Read More
Peso stays firm vs. USD; PSEi slips
October 25, 2019, 8:44 pm
MANILA -- The Philippine peso ended the week better than the US dollar, unlike the Philippine Stock Exchange index (PSEi), which declined due to growth concerns given the latest economic report offshore. The local currency finished the trade at 51.135 from 51.24 in the previous session. Among the… Read More
NEDA chief bares changes in infra program
October 25, 2019, 8:19 pm
MANILA -- Several major bridge projects, with an estimated cost of at least PHP161.6 billion, will be removed from the priority infrastructure program of the government but smaller public-private partnership (PPP) projects will be included. In a briefing on Friday on the sidelines of the Ambisyon… Read More
BSP exec sees 6.5% domestic growth in Q4 '19
October 25, 2019, 8:01 pm
MANILA -- The latest assessment by Philippine monetary officials shows better growth figures for the domestic economy in the second half of 2019, with an expansion to as much as 6.5 percent in the last quarter. Bangko Sentral ng Pilipinas (BSP) Deputy Governor Francisco Dakila Jr. on Friday said… Read More
Welfare of sugar farmers a priority: SRA chief
October 25, 2019, 6:12 pm
MANILA -- Sugar Regulatory Administration (SRA) chief Hermenegildo Serafica on Friday vowed to look after the welfare of sugar farmers. “As SRA Administrator, I will always look after the mandate of SRA, and as someone who was born and raised in the sugarcane industry, I will always look after… Read More
Gov't faces impact of budget delay on infra head-on
October 25, 2019, 1:54 pm
MANILA -- The Duterte administration considers the delay on the approval of this year’s national budget as a challenge to further push for the implementation of its infrastructure program to achieve growth targets. In his speech on Friday during the Ambisyon Natin 2040 event in SMX Convention… Read More
Alveo offers P55-M Makati condo project
October 25, 2019, 7:29 am
MANILA -- Alveo Land is building on its success in the Makati Central Business District (MCBD) with its latest residential property in a park-facing parcel. Alveo, AyalaLand Inc.’s upscale brand, recently launched Parkford Suites Legazpi, a 35-storey residential tower with an average launch… Read More
