Business
BSP, SEC to come up with policy vs. social media-based lenders
September 20, 2019, 7:51 pm
CEBU CITY – The Bangko Sentral ng Pilipinas (BSP) on Friday said it has been working closely with the Securities and Exchange Commission (SEC) in crafting a clear-cut policy against lenders who are offering loans using social media as a platform. Lawyer Elmore Capule, senior assistant governor… Read More
Peso still firm vs. USD, PSEi slips anew
September 20, 2019, 7:08 pm
MANILA -- The Philippine peso remained firm against the greenback on Friday despite risk aversion as a result of global growth issues and the latest cut in the Federal Reserve's key rates. However, the Philippines' main equities index ended negative for the fourth consecutive day. The local… Read More
Lopez Group to supply 100MW to Meralco
September 19, 2019, 10:00 pm
MANILA -- The Lopez Group has signed a power agreement with Manila Electric Co. (Meralco) to supply 100 megawatts (MW) to Metro Manila for five years starting December 26, 2019. Its renewable energy (RE) portfolio composed of First Gen Hydro and Energy Development Corporation (EDC)… Read More
Federal Land eyes Bacolod, Iloilo for Visayas expansion plans
September 19, 2019, 9:01 pm
BACOLOD CITY -- Premiere property developer Federal Land Inc. is eyeing the cities of Bacolod and Iloilo as the sites of its future projects in a bid to strengthen its presence in the lucrative Visayas market. John Cabato, the company's senior vice president and head of sales and marketing, said… Read More
Biz group opposes wage hike petition in NegOr
September 19, 2019, 8:59 pm
DUMAGUETE CITY -- The Negros Oriental Chamber of Commerce and Industry (NOCCI) has opposed the wage hike petition in the province, saying that the position paper this time is almost the same as last year, with changes only in statistics. Dumaguete-based businessman Edward Du, governor of the… Read More
Central Luzon MSMEs to showcase best products in trade fair
September 19, 2019, 8:00 pm
CITY OF SAN FERNANDO, Pampanga -- Entrepreneurs from the seven provinces in the region will have the opportunity to showcase their “great finds and great buys” products in the upcoming Likha ng Central Luzon Trade Fair 2019 at the SM Mega Trade Hall in Mandaluyong City from October 2 to… Read More
Employment outlook still high despite weaker biz sentiment
September 19, 2019, 7:41 pm
MANILA -- Philippine businessmen are maintaining a positive employment outlook despite a weaker sentiment in the third quarter of the year. Results of the Bangko Sentral ng Pilipinas’ (BSP) third-quarter Business Expectations Survey (BES), conducted from July 10 to September 10, showed that… Read More
Peso, stocks little changed after 25 bps cut in Fed rate
September 19, 2019, 6:45 pm
MANILA -- Federal Reserve’s 25 basis points cut in its key rates failed to make a dent on the Philippine peso Thursday, while the main equities gauge declined slightly. The local currency ended the day at 52.18 to the dollar from 52.2 close a day ago, which a trader attributed to the expected… Read More
DA to distribute 2M bags of inbred rice seeds under RCEF
September 19, 2019, 5:59 pm
MANILA -- Some two million bags at 20 kilos per bag of certified seeds under the Rice Competitiveness Enhancement Fund (RCEF) are set for distribution to rice farmers this year. According to the Department of Agriculture (DA), the bags of seeds will roughly translate to planting around 1… Read More
Gov’t spending seen to boost Q3 economic growth
September 19, 2019, 5:43 pm
MANILA -- Socioeconomic Planning Secretary Ernesto Pernia said he expects Philippine economic growth to expand above 6 percent in the third quarter, as government spending picks up and inflation rate stabilizes. “I think we’ll have a higher performance,” he told reporters Thursday on the… Read More
Diokno cites need to tap tech to push for digital payments
September 18, 2019, 9:50 pm
MANILA -- Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno on Wednesday highlighted the need to continuously tap technological innovations to further boost economic activities. In his speech during the launch of the newest McDonalds NXTGEN store, which is the re-opened branch at the… Read More
Town treasurers support comprehensive tax reform program
September 18, 2019, 6:46 pm
ILOILO CITY -- The Municipal Treasurers’ Association of the Philippines, Inc. (MUNTAP, Inc.) is supportive of the comprehensive tax reform package (CTRP), particularly package 3, which is on real property valuation reform. In a press conference on the sidelines of the three-day MUNTAP, Inc.… Read More
DOTr, San Miguel sign agreement for Bulacan airport
September 18, 2019, 4:58 pm
CLARK FREEPORT, Pampanga -- The construction of the PHP735-billion Bulacan International Airport will start by the end of this year. This was disclosed on Wednesday during the formal signing of the concession agreement for the airport development project. Department of Transportation (DOTr)… Read More
Bids for term deposits up but rates mixed
September 18, 2019, 4:50 pm
MANILA -- Rates of the Bangko Sentral ng Pilipinas’ (BSP) term facilities ended mixed Wednesday, but all tenors were oversubscribed. Data released by the central bank showed that average rate of the seven-day facility declined to 4.3323 percent from 4.3486 percent during the auction last… Read More
PSEi slips, peso sideways on investors’ cautious stance
September 18, 2019, 4:48 pm
MANILA -- Continued risk aversions given the geopolitical and trade concerns overseas resulted in negative close of Philippine main equities index while the peso remains resilient on Wednesday. The Philippine Stock Exchange index (PSEi) finished the day’s trade down by 0.21 percent, or 16.94… Read More
Cebu developer eyes more ‘green’ buildings
September 18, 2019, 4:02 pm
MANILA -- Catching up with the standards of the international community, Cebu-based real estate provider JEG Development Corporation (JDC) commits to greener buildings to raise the quality of premium spaces in Cebu City. The initiative comes with the new batch of executives from the Garcia family… Read More
Tax hikes to hurt gov't revenue on lower consumption
September 18, 2019, 3:00 pm
MANILA -- The Distilled Spirits Association of the Philippines (DSAP) on Wednesday said while it supports the proposed new tax rates for distilled spirits, the measure may be detrimental to government coffers and the poor. Citing the group’s position paper submitted to the Senate Ways and Means… Read More
RTWPB-3 sets hearing on possible pay hike for C. Luzon workers
September 18, 2019, 2:07 pm
CITY OF SAN FERNANDO, Pampanga -- The Regional Tripartite Wages and Productivity Board-3 (RTWPB -3) will conduct a public hearing on the adjustment of wage rates for the minimum wage earners in Central Luzon. Department of Labor and Employment (DOLE) Regional Director Zenaida Angara-Campita, who… Read More
Metro Cebu's power distribution utility firm retools brand name
September 18, 2019, 1:39 pm
CEBU CITY -- The second largest electric utility in the country serving greater part of Metro Cebu has retooled its brand name VECO, and now wants to be known as Visayan Electric. The name VECO or Visayan Electric Co. Inc. became an icon in Cebu after it was founded in 1905 by a group of Cebu… Read More
NEDA exec gives positive economic outlook for NegOr
September 18, 2019, 1:22 pm
DUMAGUETE CITY – Regional Director Efren Carreon of the National Economic Development Authority (NEDA) in Region 7 (Central Visayas) on Tuesday announced a positive economic outlook for Negros Oriental, considering the drop in the province’s poverty incidence rate over the recent years.… Read More
