Business
Cash aid for farmers most affected by rice tariffication mulled
October 24, 2019, 11:46 pm
MANILA -- The cash assistance for farmers to address the impact of the Rice Tariffication Law (RTL) will cover only the most affected ones, Finance Secretary Carlos Dominguez III said on Wednesday night. During a press briefing after the meeting of the Economic Development Cluster (EDC) in… Read More
BSP cuts anew reserve requirement for some banks
October 24, 2019, 9:18 pm
MANILA -- The Bangko Sentral ng Pilipinas’ (BSP) on Thursday announced another 100-basis points reduction in the reserve requirement ratio (RRR) of universal and commercial banks (U/KBs), thrift banks (TBs), and non-bank financial institutions with quasi-banking functions (NBQBs) effective Dec.… Read More
Gov't to spend P1.14-T in Q4 to hit 2019 GDP goal
October 24, 2019, 9:10 pm
MANILA -- The Philippine government’s 6 percent to 7 percent growth target this year will get a boost from the plan to spend about PHP1.14 trillion for infrastructure projects, among others, in the last quarter of the year. In a briefing Wednesday night, Finance Secretary Carlos Dominguez III… Read More
PSEi recovers, peso weakens on risk-off appetite
October 24, 2019, 9:05 pm
MANILA -- The Philippine Stock Exchange index (PSEi) recovered on Thursday in line with the performance of other bourses in the region but the peso weakened after a rate cut decision by Bank Indonesia. The PSEi gained 0.22 percent, or 17.22 points, to 7,950.98 points, which BPI Research… Read More
PH eyes more ‘Doing Business’ reforms
October 24, 2019, 8:57 pm
MANILA -- The Philippines is now one of the top 100 most competitive countries in the world for doing business as it has implemented more regulatory reforms to improve its business climate. The World Bank on Thursday released its Doing Business 2020 report indicating the Philippines’ sharp… Read More
PH jumps 29 notches in Doing Business rank
October 24, 2019, 12:34 pm
MANILA -- The Philippines has posted a significant improvement of 29 notches in the global rankings of the ease of doing business to 95th from 124th among 190 economies, with the implementation of regulatory reforms to speed up dealings of firms with various government agencies. The World Bank… Read More
Peso rises to 50-level vs. USD, PSEi slips
October 23, 2019, 9:05 pm
MANILA -- Risk sentiment on the Philippine peso rose Wednesday due to report on higher government spending last September but the main equities gauge fell on uncertainties on the Brexit moves. The local currency ended the day at 50.97 from 51.18 Tuesday, which Rizal Commercial Banking Corporation… Read More
PCC probes players involved in rice distribution amid high prices
October 23, 2019, 9:02 pm
MANILA -- The Philippine Competition Commission (PCC) is looking deeper into “middle phase transactions” in rice trade as retail prices remain high despite the falling farm gate prices amid surging importation following the passage of the rice tariffication law. PCC Commissioner Johannes… Read More
TDF rates ends mixed
October 23, 2019, 8:57 pm
MANILA -- Rates of the Bangko Sentral ng Pilipinas (BSP) term deposit facility (TDF) ended mixed Wednesday. Average rate of the seven-day facility declined to 4.2055 percent from 4.2264 percent during the auction last October 16. It was offered for PHP20 billion and was awarded in full after… Read More
Policy changes to boost mobile health services: Pru Life UK study
October 23, 2019, 8:55 pm
MANILA -- A study commissioned by British life insurer Pru Life UK has cited the need for the government to reconsider laws and regulations that will allow the use of mobile technologies for health-related services. In a briefing Wednesday, Prudential Corporation Asia chief health officer Andrew… Read More
17 branches of 7-Eleven in NegOr get Bagwis Awards
October 23, 2019, 7:32 pm
DUMAGUETE CITY – The Department of Trade and Industry (DTI) on Wednesday handed out Bagwis Awards or seal of excellence to 17 establishments in Negros Oriental in recognition of their efforts to comply with government regulations and uphold the rights of consumers. All 17 awardees are 7-Eleven… Read More
Biz sector urged to help sustain peace, share resources
October 23, 2019, 7:30 pm
MANILA -- The business sector should continue to invest in peacebuilding by using their influence to help the poor and the marginalized, Presidential Communications Operations Office (PCOO) Secretary Martin Andanar said on Wednesday. Andanar made this remark during a forum on Corporate Social… Read More
PLDT launches Home Fibr in Pampanga, Bataan, Zambales
October 23, 2019, 6:29 pm
CLARK FREEPORT, Pampanga – The PLDT, Inc. launched on Wednesday an exclusive Home Fibr plan in Pampanga, Bataan and Zambales, to serve over 312,000 homes with 125,000 fiber ports. PLDT-Smart vice president and regional head for Consumer Business—Customer Development John Palanca, said the… Read More
GrabFood kicks off operations in Bacolod City
October 23, 2019, 4:00 pm
BACOLOD CITY -- Leading food delivery platform GrabFood launched its expansion to this city on Tuesday, making Bacolod its 35th location in the Philippines in less than a year. GrabFood is one of the features of Grab, a popular mobile application positioned as Southeast Asia’s “everyday… Read More
MB member optimistic of 6% GDP for PH this ‘19
October 23, 2019, 3:59 pm
MANILA -- A Monetary Board (MB) member is confident that the Philippine economy will grow 6 percent this year despite the below-target expansion in the first half of the year. In an interview after the Bankers Institute of the Philippines (Baiphil) general membership meeting in Makati City… Read More
LRT 2 extension completion in 2020 doable: DMCI
October 22, 2019, 10:08 pm
MANILA -- Construction firm DM Consunji Inc. (DMCI) said it has started installing the electromechanical system (EMS) for the Light Rail Transit (LRT) Line 2 East extension, which is targeted to be finished by the last quarter of 2020. DMCI president and chief executive officer Jorge Consunji… Read More
Air purification systems firm to invest P250-M in PH
October 22, 2019, 9:36 pm
MANILA -- Air Intellipure Inc. intends to invest PHP250 million over the next three years as it launched in the Philippines its air purification technology, the first of its kind in the country. “I think our growth (here) will be at least 50 percent year-on-year for the first three to four… Read More
Stocks rise anew, peso weakens on profit-taking
October 22, 2019, 8:27 pm
MANILA -- The Philippine Stock Exchange index (PSEi) improved for the second day in a row Tuesday on positive trade news overseas while the peso weakened after investors took gains from the unit’s recent rally. The main equities index rose 0.81 percent, or 64.11 points, to 7,955.24 points. BPI… Read More
MB member eyes possible drop of inflation below 0.9%
October 22, 2019, 8:25 pm
MANILA -- A member of the policy-making Monetary Board (MB) expects domestic inflation rate moving sideways or even drop further before end 2019. “The inflation outlook for the rest of the year is, it will at least go sideways or lower,” MB member Bruce Tolentino told journalists in an… Read More
Dar sees 2.5% agri growth in 2020
October 22, 2019, 4:31 pm
MANILA -- The Department of Agriculture (DA) foresees farm production growth at 2.5 percent in 2020 with the full implementation of the Rice Competitiveness Enhancement Fund (RCEF), a component under Republic Act No. 11203, otherwise known as the Rice Tariffication Law. "(We will have) full… Read More
