Business
RCBC exec eyes sustained double-digit loan growth this year
October 17, 2019, 9:05 pm
MANILA -- A ranking official of Rizal Commercial Banking Corporation (RCBC) expects continued double-digit growth this year of consumer loans on the back of the decline of domestic interest rates. RCBC Consumer Lending Group head Rommel Latinazo said they are optimistic of the sustained robust… Read More
ADB support to PH to reach record high in 2020–2022
October 17, 2019, 9:01 pm
MANILA -- The Asian Development Bank’s (ADB) sovereign lending for the Philippines is expected to reach US9.1 billion between 2020 and 2022, as the government seeks to invest more in much-needed infrastructure and pro-poor projects that will merge rural areas into urban growth centers. The… Read More
BPI economist optimistic of PH economic recovery in 2020
October 17, 2019, 8:54 pm
MANILA -- An official of Ayala-led Bank of the Philippine Island (BPI) is optimistic about the improvement of the Philippine economy next year, with growth projected at 6.4 percent from the forecast expansion of 5.9 percent. These growth forecasts are, however, lower than the government’s 6 to… Read More
Stocks rise on foreign buying, peso improves
October 17, 2019, 8:47 pm
MANILA -- Both the Philippine Stock Exchange index (PSEi) and the peso ended higher Thursday as investors took note of the weak US manufacturing and services sectors. The Philippine Stock Exchange index (PSEi) improved for the second day in a row after rising by 0.19 percent, or 15.25 points, to… Read More
Alveo Land eyes P18-B in sales from Laguna commercial district
October 17, 2019, 8:03 pm
MANILA -- Property developer Alveo Land targets to generate PHP18 billion in sales from the first phase of its new commercial district in Biñan, Laguna, as it banks on high demand amid strong confidence in the economy. Rufino Gutierrez, chief operating officer of Alveo Land, said the firm is… Read More
DOE: Power situation back to normal after Mindanao quake
October 17, 2019, 5:49 pm
MANILA -- The Department of Energy (DOE) on Thursday said power situation in Mindanao is now back to normal after the 6.3 magnitude earthquake that hit the area of Tulunan, North Cotabato around 7:37 p.m. Wednesday. DOE officials had an emergency meeting with members of the Task Force on Energy… Read More
TDF rates decline
October 16, 2019, 9:50 pm
MANILA - Rates of the Bangko Sentral ng Pilipinas (BSP) term facilities declined across-the-board Wednesday ahead of the implementation of additional cut in banks' reserve requirement ratio (RRR). Data released by the central bank showed that the average rate of the seven-day facility eased to… Read More
PSEi, PHP end Wednesday with gains
October 16, 2019, 9:30 pm
MANILA -- Local stocks on Wednesday mirrored Wall Street’s rise and the peso stayed firm against the US dollar. The Philippine Stock Exchange index (PSEi) rose 0.96 percent, or 74.99 points, to 7,915.30 points, which BPI Research traced to upbeat close of US stocks on Tuesday. All Shares gained… Read More
DOE assesses energy facilities in Mindanao after quake
October 16, 2019, 9:04 pm
MANILA -- Members of Task Force on Energy Resiliency (TFER) are now checking energy infrastructure in several areas in Mindanao hit by a 6.3 magnitude earthquake at around 7:37 p.m. Wednesday. In a statement, the Department of Energy (DOE) said the TFER “is now gathering data on the status of… Read More
UNDP report calls for sustainable biz models to attain SDGs
October 16, 2019, 8:52 pm
MANILA -- A report by the United Nations Development Programme (UNDP) Philippines has encouraged businesses to use sustainable models to earn while helping achieve the United Nations’ Sustainable Development Goals (SDGs). In a briefing Wednesday, Gail Klintworth, senior advisor of SYSTEMIQ,… Read More
Zest-O Group eyes further overseas expansion
October 16, 2019, 8:20 pm
MANILA -- Beverage manufacturer Zest-O Group is looking to expand in Southeast Asia and China even amid softened demand due to taxes levied on sugar-sweetened beverages. “Maybe not the Zest-O (products) that you know here. A different product maybe we have. A coconut-based beverage will be good… Read More
PAL to introduce Zamboanga-Tawi-Tawi route Dec. 15
October 16, 2019, 7:14 pm
MANILA -- Flag carrier Philippine Airlines (PAL) is adding Zamboanga-Tawi-Tawi route along with two other domestic destinations it would launch on December 15, spokesperson Cielo Villaluna said Wednesday. At present, only Cebu Pacific services the said route. PAL will have daily flights between… Read More
Cebu Pacific offers flight rebooking at cheaper price
October 16, 2019, 7:11 pm
MANILA -- Customers of Cebu Pacific (CEB) could soon rebook their flights twice, up to two hours before departure, via "Flexi", the carrier's latest add-on product. Upon booking their flights either through the web or mobile app, passengers could choose this add-on for PHP499 for domestic… Read More
IMF lowers global growth forecast for 2019 to 3%
October 16, 2019, 4:13 pm
WASHINGTON -- The International Monetary Fund (IMF) on Tuesday lowered its global growth forecast for 2019 to 3 percent in the newly-released World Economic Outlook (WEO) report, down 0.2 percentage point from its estimation in July. Noting that this is the slowest pace since the global financial… Read More
Stocks, peso slip amid lack of clarity on trade deal
October 15, 2019, 8:12 pm
MANILA -- Need for clarity of the US-China trade deal, which remains informal after the meeting between officials of the two countries last week, made investors took a wait-and-see stance that reversed the rise of Philippines’ main equities gauge while the peso ended slightly lower. The… Read More
Nordic Awards finalists bared
October 15, 2019, 7:20 pm
MANILA -- The finalists of the 2019 Nordic Awards eho vying for categories that reflect the Nordic countries' values of innovation, growth, equality, and sustainability were bared on Tuesday. "What separates us from other award-giving bodies is that we try to tie this (award) together with the… Read More
Power generation firms urged to put up plants, boost supply
October 15, 2019, 7:12 pm
MAUBAN, QUEZON -- The Philippine government has adopted a technology-neutral policy to entice more generation companies to put up power plants and help ensure power sustainability and boost growth. In his speech during the inauguration of the 500-megawatt capacity (MW) coal-fired power plant of… Read More
DOE exec sees normalization of Luzon power supply
October 15, 2019, 7:03 pm
MANILA -- Energy Undersecretary Felix William Fuentebella has discounted another yellow alert status for the Luzon grid on Wednesday, as maintenance works on the Malampaya gas field in offshore Palawan is expected to end Tuesday. “We don’t see any yellow alert status for tomorrow because of… Read More
Century Pacific inks supply deals with top Russian food firms
October 15, 2019, 6:19 pm
MANILA -- Century Pacific Food Inc., one of the Philippines’ largest food and beverage companies, has signed multiple deals to supply tuna, sardine, and coconut milk products to top Russian firms. Under separate memoranda of understanding, Century Pacific agreed to supply tuna and sardine… Read More
European firms keen on PH infra opportunities, other sectors
October 15, 2019, 5:46 pm
MANILA -- European companies are keen on participating in Philippine infrastructure projects and investing in different sectors, as they called on the country to make its business environment friendlier for them. European Chamber of Commerce of the Philippines (ECCP) executive director Florian… Read More
