Business
BSP to tap new laws, e-payments to help boost domestic growth
October 10, 2019, 9:17 pm
MANILA -- The Bangko Sentral ng Pilipinas (BSP) will be contributing more in keeping economic stability in the country by taking advantage of the amended Central Bank Act as well as improvement in electronic payments. In his speech during the Asian Banker’s Finance Philippines 2019 forum in… Read More
WB cuts 2019 PH growth outlook; sees recovery in 2020-21
October 10, 2019, 7:02 pm
MANILA -- The World Bank (WB) has revised its Philippine economic growth forecast for 2019 amid the sharp deceleration in investment growth and the impact of global developments, but expecting a recovery over the next two years. The WB now sees the country’s gross domestic product (GDP) growing… Read More
AirAsia PH sees P29-B revenue in 2019
October 10, 2019, 9:13 am
MANILA -- An official of AirAsia Philippines on Wednesday said the carrier sees 2019 as its banner year. "We project PHP29 billion revenue by the end of the year, or 39 percent growth from revenue in 2018," AirAsia Philippines vice chair Sheila Romero said during the launch of the carrier's new… Read More
Peso ends almost flat, stocks decline
October 9, 2019, 9:15 pm
MANILA -- The Philippine peso ended Wednesday little changed against the US dollar but the Philippine Stock Exchange index (PSEi) reversed to negative territory as trade tensions continue to worry the markets. The local currency ended the day at 51.79 from 51.77 a day ago, which BPI Research… Read More
NEDA says simplified gov't transactions lead to improved PH’s WGI
October 9, 2019, 8:27 pm
MANILA -- Government efforts to streamline and simplify transaction periods and requirements for government services paved the way to the country’s climb in the 2018 Worldwide Governance Indicators (WGI), the National Economic and Development Authority said. The Philippines improved its… Read More
NEDA calls for people-centered gov't frontline services
October 9, 2019, 7:58 pm
MANILA -- The National Economic and Development Authority (NEDA) urged government agencies to consciously put people -- clients and workers alike -- at the center of their frontline services to further improve the ease of doing business and government service delivery. “Citizens and businesses… Read More
Economist eyes peso to end 2019 at 52.89
October 9, 2019, 6:22 pm
MANILA -- Financial flows to the Philippines are expected to keep the local currency resilient, with the peso seen to end 2019 at 52.89 to a greenback. The local currency ended 2018 at 52.58 to a US dollar. In a report dated Oct. 8, ING Bank Manila senior economist Nicholas Mapa said the local… Read More
TDF rates decline for all tenors
October 9, 2019, 2:56 pm
MANILA -- Rates of the Bangko Sentral ng Pilipinas’ (BSP) term facility registered a decline across-the-board on Wednesday, even as all tenors were oversubscribed. Data released by the BSP showed that the average rate of the seven-day facility declined to 4.2348 percent from 4.2501 percent. It… Read More
SoKor, PH to sign expanded free trade agreement next month
October 9, 2019, 2:18 pm
MANILA – South Korea and the Philippines are expected to sign next month an expanded free trade agreement to further boost the two countries flourishing commercial trading, according to South Korean Ambassador Han Dong-man. Han made the disclosure to diplomats attending the Korea National… Read More
Peso, stocks rise ahead of US-China trade talks
October 8, 2019, 9:42 pm
MANILA -- Optimism on the scheduled trade talks between US and China later this week lifted investors’ sentiments and allowed the peso to improve against the US dollar and the main equities index to recover Tuesday. The local currency ended the day at 51.77 from 51.86 a day ago. BPI Research… Read More
No more BSP rate cuts for '19 but possibly for RRR
October 8, 2019, 9:32 pm
MANILA – Philippine monetary officials are done with policy rate easing this 2019 but may possibly slash banks’ reserve requirement ratio (RRR) if inflation decelerates further. In an interview Tuesday with journalists after his speech at The Asset forum in Taguig City, Bangko Sentral ng… Read More
Aklan product expo eyes over P8.5-M revenue
October 8, 2019, 7:58 pm
ILOILO CITY -- The week-long ongoing Aklan product expo in this city is expected to generate some PHP8.5 million as this year’s exhibit features the province’s improved products. “Every year whenever I am around, they always have new products. Aklanons are receptive to designs,” said Trade… Read More
CITIRA won't lessen investments from China: Dominguez
October 8, 2019, 7:47 pm
MANILA -- Finance Secretary Carlos Dominguez III has discounted flight of investments from China vis-à-vis the proposed reform on fiscal incentives. In an interview after his speech at The Asset forum in Taguig City Tuesday, the Finance chief said foreign investors do not consider incentives as… Read More
Energy, tourism sectors to reap benefits from PRRD's Russia trip
October 8, 2019, 5:30 pm
MANILA -- The Philippines power and tourism sectors are among those that will benefit from the trip of President Rodrigo R. Duterte in Russia last October 1 to 5. Finance Secretary Carlos Dominguez III told journalists Tuesday that potential investments from the recent foreign trip of the Chief… Read More
BSP to auction P80-B under TDF this week
October 7, 2019, 9:20 pm
MANILA -- The Bangko Sentral ng Pilipinas (BSP) will offer PHP80 billion under its term deposit facility (TDF) on Wednesday. In an advisory, the central bank said the seven-day and 14-day facilities will be auctioned for PHP30 billion each while the 28-day facility will be offered for PHP20… Read More
Oil companies to cut prices Tuesday
October 7, 2019, 9:01 pm
MANILA -- Several oil companies have announced for the second consecutive week a price rollback effective 6 a.m. on Tuesday. In separate advisories, Petro Gazz, Seaoil, Petron and PTT Philippines said they will reduce gasoline prices by PHP0.80 per liter and diesel by PHP1 per liter. Seaoil and… Read More
Peso weakens, PSEi declines on investors' wait-and-see stance
October 7, 2019, 8:50 pm
MANILA -- Wait-and-see stance on the Federal Reserve’s rate direction following the latest jobs report from the US resulted in the depreciation of the Philippine peso while the US-China issues continued to affect local equities Monday. The peso ended the week’s first trading day at 51.86 from… Read More
DTI supports former fisherfolk to become craft makers in Aurora
October 7, 2019, 8:46 pm
DIPACULAO, Aurora -- Some 26 residents in this town who used to earn their living by fishing are now engaged in making bamboo handicrafts. The former fishermen are now active members of the Croppers/Sharesmen Association, Inc. (CSAI) that is being supported by the Department of Trade and Industry… Read More
Millers hail resolution opposing sugar imports liberalization
October 6, 2019, 1:05 pm
MANILA -- Sugar stakeholders hailed the passing of House Resolution 412 which opposes the liberalization of sugar imports for the purpose of safeguarding the welfare of farmers and mill workers across the country. “We are grateful for the support given to the sugar industry. They (legislators)… Read More
45th PBC&E to focus on ‘digital’ economy
October 6, 2019, 11:37 am
MANILA -- With all the significant technology changes occurring, the business sector needs to leverage on digital technology to transform their businesses, an official of the Philippine Chamber of Commerce and Industry (PCCI) said. During the media launch of the forthcoming 45th Philippine… Read More
