Business
H1 '19 TRAIN collections rise to P55.6-B
September 27, 2019, 10:53 am
MANILA -- Revenues from the Tax Reform for Acceleration and Inclusion (TRAIN) Law rose 65 percent year on year to PHP55.6 billion by end of June, Finance Secretary Carlos Dominguez III said Wednesday. Citing preliminary data, Dominguez said the Bureau of Internal Revenue (BIR) surpassed its… Read More
Deal on use of hybrid rice seeds inked
September 26, 2019, 9:08 pm
MANILA -- The government and industry stakeholders have signed a memorandum of agreement (MOA) on a program that encourages farmers to use inbred or hybrid seeds to increase their harvest and become competitive. The Department of Agriculture (DA), SL Agritech Corporation (SLAC), and Go Negosyo… Read More
DOTr chief assures completion of infra projects in Bulacan
September 26, 2019, 8:42 pm
CITY OF MALOLOS, Bulacan—Department of Transportation (DOTr) Secretary Arthur Tugade has assured local officials here of the full implementation of the government’s ongoing infrastructure projects in this province. Tugade made the assurance as he met provincial leaders headed by Governor… Read More
BSP cuts rates, 2019 inflation forecast anew
September 26, 2019, 8:12 pm
MANILA -- Philippine monetary officials on Thursday reduced by 25 basis points the Bangko Sentral ng Pilipinas’ (BSP) key rates, the third for the year, as domestic fundamentals remain strong and are expected to cushion the impact of negative external developments. The decision of the… Read More
Peso up, stocks flat on positive trade news overseas
September 26, 2019, 7:07 pm
MANILA -- The Philippine peso improved against the US dollar Thursday while the main equities gauge managed to stay afloat as investors remained on the sidelines given the developments overseas. The local currency ended the day at 52.11 from 52.21 a day ago, which a trader attributed to risk-on… Read More
PH set to resume export of poultry products to SoKor
September 26, 2019, 7:04 pm
MANILA -- Korea is set to conduct an onsite inspection and accreditation of new poultry manufacturing facilities in the Philippines following the resumption of chicken exports to South Korea. This was announced on Monday during a meeting between Agriculture Secretary William Dar and the official… Read More
Russia eyes new areas of trade, investment ties with PH
September 26, 2019, 6:22 pm
MANILA -- Russia is eyeing new fields of trade and investment cooperation with the Philippines as these seek to diversify economic relations between the two countries. “This time, we decided to focus on several sectors including pharmaceuticals and medical equipment; infrastructure mainly… Read More
NCIPR meets for IPR enforcement action plan
September 26, 2019, 4:26 pm
MANILA -- Members of the National Committee on Intellectual Property Rights (NCIPR) on Wednesday held a closed-door meeting in Makati City as they prepare to finalize the 2019-2022 IPR enforcement action plan. The committee also tackled other concerns including better coordination among concerned… Read More
Dominguez eyes possible solutions to IRA allocation hikes
September 25, 2019, 10:52 pm
MANILA -- Finance Secretary Carlos Dominguez said on Wednesday the High Court’s ruling increasing local governments’ internal revenue allotment (IRA) is projected to increase the share of government’s budget gap on domestic output. “That’s going to create a fiscal problem, which in our… Read More
Difficulty to catch up with tech hinders fight vs. piracy: OMB
September 25, 2019, 9:48 pm
MANILA -- Optical Media Board (OMB) chairman Anselmo Adriano on Wednesday said the agency is having difficulty to catch up with technologies in its fight against piracy. Speaking to reporters in Makati City, Adriano said that over the past three years, the production of copyrighted materials in… Read More
BSP exec cites needs to further enhance capital market
September 25, 2019, 9:18 pm
MANILA – The need to introduce further improvements to the Philippines’ capital market has risen especially in recent years to help address the dovish interest rate outlook and slower global growth, among others. Reliance on banks as major fund source for corporates should be lessened.… Read More
DTI aids makers of coconut delicacies in Aurora town
September 25, 2019, 8:34 pm
MARIA AURORA, Aurora -- The coconut processing business in this province has received a big boost from the provisions provided by the Department of Trade and Industry (DTI). The DTI, through its Shared Service Facility (SSF) program, recently turned over machinery and equipment to the members of… Read More
DTI to launch youth entrepreneurship program in Calabarzon
September 25, 2019, 8:30 pm
SANTA CRUZ, Laguna -- The Department of Trade and Industry in Region 4-A (Calabarzon) will launch its Youth Entrepreneurship Program (YEP) at the Cultural Center of Laguna here on Thursday, September 26. The YEP is a nationwide program that aims to help young Filipinos develop their… Read More
ADB cuts 2019, 2020 growth forecasts for PH
September 25, 2019, 7:52 pm
MANILA -- The Asian Development Bank (ADB) has slightly reduced its economic growth forecast for the Philippines for the next two years amid a slowdown in the global economy and domestic investment, even as the country remains one of Asia’s best performers. In an update of its flagship annual… Read More
Stocks barely rise, peso weakens on risk aversion
September 25, 2019, 7:47 pm
MANILA -- The Philippine Stock Exchange index (PSEi) managed to stay firm Wednesday despite the risk-off sentiments overseas that negatively affected the peso. BPI Research said the main equities index was mostly weak during the day but recovered before trading closed, resulting in 0.03-percent,… Read More
Term deposits undersubscribed, rates mixed
September 25, 2019, 7:41 pm
MANILA -- Rate of the Bangko Sentral ng Pilipinas’ (BSP) term deposit facility (TDF) registered mixed results Wednesday due to undersubscription and demand for higher yield. Rate of the seven-day facility rose to 4.3589 percent from 4.3323 percent during the auction last September 18. The… Read More
BSP supports 'fintech' innovations
September 25, 2019, 7:22 pm
MANILA -- Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno on Wednesday said the BSP is committed in supporting "beneficial" financial technology (fintech) innovations by creating an enabling policy and regulatory environment for promoting financial innovation and inclusion. In his… Read More
Davao-based bizman gets Entrepreneur of the Year Singapore award
September 25, 2019, 5:09 pm
MANILA -- Rising entrepreneur Dennis Uy bagged the highly-coveted Asean Entrepreneurial Excellence Award from the world’s most prestigious business awards program for entrepreneurs, Ernst & Young’s Entrepreneur of the Year Singapore. As the chairman and president of UDENNA Corporation, which… Read More
64 exhibitors showcase products at 34th Negros Trade Fair
September 25, 2019, 4:47 pm
BACOLOD CITY-- Some 64 exhibitors from Negros Occidental, including producers and local government units (LGUs), are showcasing their top products in the 34th Negros Trade Fair (NTF), which officially opened at the Glorietta Activity Center in Makati City on Wednesday. Themed “Timeless… Read More
BIR shuts down tax-evading POGO service provider
September 25, 2019, 3:08 pm
MANILA -- The government's drive against erring taxpayers claimed one of the biggest Philippine offshore gaming operator (POGO) service providers on Wednesday after it was padlocked for tax evasion. Joint operatives from the Department of Finance (DOF), Bureau of Internal Revenue (BIR), and the… Read More
