Business
DUs' bid to ensure power supply seen to lower inflation
September 17, 2019, 9:09 pm
MANILA -- Efforts of distribution utilities (DUs) to ensure power supply for its customers are expected to further lower the country’s inflation rate over the next decade, an economist said. The Manila Electric Company (Meralco) on Monday signed five-year power supply agreements (PSAs) with… Read More
Two-tiered wage system tackled in Region 7 public hearing
September 17, 2019, 8:41 pm
DUMAGUETE CITY – The government’s two-tiered wage policy took center stage in Tuesday’s public hearing held here conducted by the Regional Tripartite Wage and Productivity Board (RTWPB) in Central Visayas (Region 7) on a petition for a minimum wage adjustment for Negros Oriental and… Read More
Peso firm amid risk aversion, PSEi declines
September 17, 2019, 8:19 pm
MANILA -- The Philippine peso ended Tuesday sideways against the greenback, while the Philippine Stock Exchange index (PSEi) reverted to negative territory due to risk aversion vis-à-vis the drone attack on oil facilities in Saudi Arabia. The local currency finished the day at 52.26 from 52.28 a… Read More
PTT assures enough oil supply amid Saudi oil facilities’ attack
September 17, 2019, 7:46 pm
MANILA -- PTT Philippines on Tuesday assured it has adequate supply of oil but continues to monitor price developments after the attack on oil facilities in Saudi Arabia. In a statement, the oil company said it regretted Saturday’s drone attack on Saudi Arabia’s oil infrastructure that… Read More
AC Energy eyes becoming leader in renewables in 6 years
September 17, 2019, 7:44 pm
MANILA -- AC Energy Philippines aims to have about 2,000 megawatts (MW) capacity by 2025 to become the leader in renewable energy (RE) in the country, with the groundbreaking of its RE plants seen in the next six months. In a briefing Tuesday, AC Energy president John Eric Francia said although RE… Read More
Ayala Land Premier eyes P14-B sales from 2nd res’l tower in QC
September 17, 2019, 7:36 pm
MANILA -- Luxury developer Ayala Land Premier (ALP) expects to generate over PHP14 billion in sales from its soon-to-be-launched residential project in Quezon City, following the strong take-up of its first project in an estate. In a press briefing on Tuesday, ALP managing director Mike Jugo said… Read More
Cebu Pacific supports student air fare discount proposal
September 17, 2019, 6:30 pm
MANILA -- Low-cost carrier Cebu Pacific (CEB) supports the idea of providing discounts to the air fare of students, an executive said Tuesday. "We support the student discount for air travel, and we will attend the public hearing on the Implementing Rules and Regulations (IRR)," JR Mantaring, CEB… Read More
Real estate exec sees office space deficit next year
September 16, 2019, 8:08 pm
MANILA -- An official of a leading real estate services company forecasts a deficit in office spaces in Metro Manila as early as 2020 with the strong demand, especially coming from Philippine offshore gaming operators (POGO). In a briefing Monday, Leechiu Property Consultants Chief Executive… Read More
BSP to offer P80-B term deposit facility this week
September 16, 2019, 7:39 pm
MANILA -- The Bangko Sentral ng Pilipinas (BSP) will offer PHP80 billion under its term deposit facility on Wednesday. Data released by the central bank Monday showed that the seven-day facility will be offered for PHP20 billion, while both the 14-day and 28-day facilities will be offered for… Read More
DOE monitoring impact of attack on Aramco facilities on PH
September 16, 2019, 7:36 pm
MANILA -- The Department of Energy (DOE) on Monday said it is still “premature” to provide any assessment on the possible impact of the attack on Saudi Arabian Oil Company’s (Saudi Aramco) facilities on the Philippines’ oil sector. Aramco’s petroleum and gas processing plants in Khurais… Read More
Chinese steel firm eyes larger PH market with Mindanao plant
September 16, 2019, 7:20 pm
MANILA -- Chinese steel company Panhua Group Co. Ltd. is eyeing to start construction on its 300-hectare integrated steel manufacturing plant in Misamis Oriental by the end of this year to meet the needs of the domestic market as the Philippine government pursues its infrastructure program.… Read More
Stocks rise amid geopolitical concerns; peso weakens
September 16, 2019, 6:53 pm
MANILA -- The Philippine Stock Exchange index (PSEi) managed to end Monday up despite geopolitical concerns, while the peso weakened. PSEi rose 0.06 percent, or 4.58 percent, to 7,996.90 points, which BPI Research traced to investors’ weighing the attack on oil facilities of Saudi Aramco Oil… Read More
ASF outbreak not epidemic: Agri chief
September 16, 2019, 6:10 pm
MANILA -- Agriculture Secretary William Dar on Monday said the African swine fever (ASF) episodes in several areas in Bulacan and Rizal may be considered an outbreak, but not an epidemic. "Specifically, ASF was already contained in Barangay Pritil, Guiguinto, Bulacan; and in several barangays in… Read More
P2.5-B SURE Aid to benefit 170k farmers affected by tariff law
September 16, 2019, 6:02 pm
MANILA -- The expanded Survival and Recovery Assistance program (SURE Aid) now stands at PHP2.5 billion following an infusion of additional PHP1-billion fund. In a press conference on Friday, Agriculture Secretary William Dar said around 170,000 small rice farmers are now expected to benefit… Read More
Clark pilot training provider unveils expansion project
September 14, 2019, 3:42 pm
CLARK FREEPORT, Pampanga -- The Alpha Aviation Group (AAG) officially unveiled on Friday its USD11-million Simulator Training Center Expansion Project, which will house four additional simulator bays, including the brand new A320 Full Flight Simulator version 2.0 inside this Freeport zone. In his… Read More
Dominguez raises need for SSS to hike income
September 12, 2019, 9:30 pm
MANILA -- Finance Secretary Carlos Dominguez III has underscored the need for state-run Social Security System (SSS) to "dramatically increase income" to lengthen its fund life and efficiently cater to its members. In a speech read by Finance Assistant Secretary Antonio Lambino II during SSS' 62nd… Read More
Dar orders NFA to lower rice prices to P27/kilo
September 12, 2019, 9:20 pm
MANILA -- Agriculture Secretary William Dar on Thursday ordered the National Food Authority (NFA) to bring down rice prices to PHP27 per kilo by flooding Metro Manila markets with 3.6 million bags of the food staple. He also directed the agency to increase palay support price to PHP19 from PHP17… Read More
AirAsia PH to launch Manila-Bacolod flights in October
September 12, 2019, 9:01 pm
MANILA -- AirAsia Philippines is adding another route this year, offering flights between Manila and Bacolod beginning October 27. The carrier's chief executive officer, Ricardo Isla, earlier told the Philippine News Agency (PNA), the airline is expanding its presence, and noted that domestic… Read More
Group bares composition of mining advisory body
September 12, 2019, 6:51 pm
MANILA -- The Chamber of Mines of the Philippines (COMP) on Thursday bared the composition of its Community of Interest (COI) advisory panel as the organization of the country’s biggest large-scale mining firms prepares to roll out Towards Sustainable Mining (TSM) –a set of tools and… Read More
Peso rises to 51-level, stocks down on volatility
September 12, 2019, 5:28 pm
MANILA -- Risk on sentiment allowed the Philippine peso to rise to 51-level against the US dollar Thursday, while the Philippine Stock Exchange index (PSEi) ended on negative territory. The peso finished the day’s trade at 51.93 from 52.15 Wednesday. A trader attributed the gains to optimism… Read More
