Business
Cavitex toll hike on Coastal Road takes effect Oct. 24
October 15, 2019, 4:37 pm
MANILA -- Cavitex Infrastructure Corporation (CIC) will start collecting the new toll fee rates for the Phase 1 of its Segment 1 (R1 Expressway) along Coastal Road in Parañaque City on October 24. This, after its petition, jointly filed by the Philippine Reclamation Authority (PRA), for the… Read More
PSEi rise, PHP stays firm vs US dollar
October 14, 2019, 10:07 pm
MANILA – Investors’ appetite rose Monday and boosted both the Philippine Stock Exchange index (PSEi) and the peso after US and China announced the positive outcome of their trade talks last week. Citing news reports, BPI Research said US President Donald Trump announced that it will not… Read More
DBP exec optimistic for sustainability bond sale
October 14, 2019, 9:29 pm
MANILA -- A ranking Development Bank of the Philippines’ (DBP) official is optimistic about a strong uptick for the bank’s PHP5-billion, 2-year sustainability bond as more people realize the value of investing for nation-building. Offer period will be from October 21-30, 2019 and issuance is… Read More
Food processors call for 105K MT sugar import to stabilize supply
October 14, 2019, 8:23 pm
MANILA -- Food and agriculture processors on Monday asked for 105,000 metric tons (MT) sugar import annual allocation to stabilize their manufacturing input and raise their global competitiveness due to lower cost. The Philippine Chamber of Agriculture & Food Inc. (PCAFI) and the Philippine Food… Read More
DBP taps PayMaya for cashless disbursements to farmers
October 14, 2019, 8:20 pm
MANILA -- In line with the government's call to boost financial inclusion in the country and for more efficient delivery of public services to citizen beneficiaries, the Development Bank of the Philippines (DBP) has chosen PayMaya as the digital financial services partner for its assistance… Read More
SEC orders 12 more online lenders to stop operations
October 14, 2019, 6:53 pm
MANILA -- The Securities and Exchange Commission (SEC) has enjoined another batch of online lending operators from further engaging in lending activities for their failure to secure the necessary licenses. The Commission en banc on Oct. 10 issued a cease and desist order against A&V Lending… Read More
Banana growers fear politics to affect PH top agri dollar earner
October 14, 2019, 6:51 pm
MANILA -- The country’s banana producers on Monday denounced the recent move of the Davao del Norte government to destroy the biosecurity installations used to protect farms from a virus feared worldwide that could cause the eradication of Cavendish bananas. The Pilipino Banana Growers and… Read More
Meat processors claim P50-B losses due to ASF scare
October 14, 2019, 5:00 pm
MANILA -- The country's meat processing industry on Monday reported losses of PHP50 billion due to the ban being imposed by some local government units (LGUs), particularly in the Visayas and Mindanao, on processed meat amid the outbreak of African swine fever (ASF) in some areas in… Read More
DOE monitoring yellow alert status for Luzon grid
October 14, 2019, 4:56 pm
MANILA -- A yellow alert has been raised over the Luzon grid from 10 a.m. until 4 p.m. Monday, with unplanned outages alone reaching 2,955 megawatts (MW). Data released by the Department of Energy (DOE) showed that the bulk of the outages are accounted for by outside management control (OMC) at… Read More
Oil firms announce price adjustments for Tuesday
October 14, 2019, 12:56 pm
MANILA -- Several oil firms have announced adjustments in the prices of their fuel products effective 6 a.m. on Tuesday (October 15). In an advisory Monday, Seaoil Philippines said the price of its gasoline products would increase by PHP0.25 per liter while diesel would be reduced by PHP0.10 per… Read More
Ayala urges biz leaders to create social impact
October 14, 2019, 9:45 am
MANILA -- Business leaders are urged to contribute to the country's development and create a positive social impact by including societal engagement in their corporate strategies. "I believe everyone in this room has been trained to be competitive, but I believe cooperation is more important than… Read More
Cebu Pac to open Clark-Guangzhou route amid rising travel demand
October 13, 2019, 10:51 am
MANILA – Amid rising demand for leisure and business travel, budget carrier Cebu Pacific (CEB) will open direct flights between Clark and Guangzhou next month. "(Guangzhou) is a hub for bulk buy of consumer goods. There are huge trade fairs there," CEB spokesperson Charo Lagamon told the… Read More
WalterMart 30th branch opens in Bataan
October 12, 2019, 6:07 pm
BALANGA CITY, Bataan -- Hundreds of people literally mobbed the official opening of WalterMart mall here on Saturday afternoon. The mall near the busy Roman Highway is the first branch in Bataan and the 30th in the country. Governor Albert Garcia, Balanga City Mayor Francis Garcia, and WalterMart… Read More
Collaboration to establish EduFarm inked
October 12, 2019, 12:06 pm
MANILA -- The Department of Agriculture (DA) on Friday signed a memorandum of understanding (MOU) with private firm Corteva Agriscience to lift the country’s rice and corn productivity. The collaboration focuses on three projects - - Rice EduFarm, Corn EduFarm, and Fall Armyworm Mitigation.… Read More
PSEi, PHP end week up
October 11, 2019, 8:42 pm
MANILA -- Investors’ sentiment rose Friday on the back of the ongoing US-China trade meeting, lifting both the Philippine Stock Exchange index (PSEi) and the peso. The main equities gauge gained 1.09 percent, or 84.91 points, to 7,849.94 points. “Local stocks tracked the global upbeat trading,… Read More
Diokno cites reasons for FDIs' drop
October 11, 2019, 6:33 pm
MANILA -- Aside from the impact of global trade developments, a wait-and-see stance on the outcome of the proposed corporate income tax reform may be a factor in the decline of foreign direct investments (FDIs) to the Philippines. “I think, overall, the FDIs have declined,” Bangko Sentral ng… Read More
PH low-cost carriers to launch new destinations
October 10, 2019, 9:42 pm
MANILA -- Cebu Pacific (CEB) and AirAsia Philippines, two of the country's budget carriers, are set to launch new domestic routes in the remaining months of 2019 including international destinations soon. CEB spokesperson Charo Lagamon said all is set for their Cebu-Busuanga services on October 27… Read More
NEDA urges redoubling efforts to boost export products
October 10, 2019, 9:26 pm
MANILA -- The government should redouble efforts to support export products where the country has comparative advantage so the trade sector recovers and picks up more steam, the National Economic and Development Authority (NEDA) said. The Philippine Statistics Authority (PSA) reported that the… Read More
Exec eyes growth for HSBC financial service
October 10, 2019, 9:24 pm
MANILA -- Continuous growth of the Philippine economy made a ranking HSBC official forecast a robust expansion for the bank’s personalized financial service called Premier. In a briefing Thursday, HSBC head of Retail Banking and Wealth Management Peter Faulhaber said Premier was launched in the… Read More
Stocks, peso finish higher
October 10, 2019, 9:21 pm
MANILA -- Risk-on sentiments returned to the Philippine financial markets and allowed both the peso and the Philippine Stock Exchange index (PSEi) to close higher on Thursday. The local currency ended the day’s trade at 51.64 from 51.79 a day ago, which a trader attributed to hopes for a… Read More
