Business
GCash assures more secured transactions with Customer Protect
September 12, 2019, 5:03 pm
MANILA -- The country’s leading mobile wallet GCash has upgraded its security features through its new Customer Protect program. With 20 million and growing customers, the e-wallet app finds it appropriate to make the platform more ideal for Filipinos to put in their hard-earned money to the… Read More
SSS execs eye 32.3M e-transactions by 2020
September 12, 2019, 3:35 pm
MANILA – Banking on technological innovations to further enhance services, officials of state-run Social Security System (SSS) target to increase to about 32.3 million the electronic transactions of their members by 2020. In a briefing Thursday, SSS president and chief executive officer Aurora… Read More
Sugar stakeholders question SRA production estimates
September 12, 2019, 2:21 pm
MANILA -- Sugar industry stakeholders are questioning the production estimates for the year released by the Sugar Regulatory Administration (SRA). "The Sugar Regulatory Administration owes industry stakeholders as well as consumers an explanation for their production estimates for the current crop… Read More
BCDA showcases Filinvest township at Belt & Road Summit
September 12, 2019, 1:39 pm
MANILA -- The Bases Conversion and Development Authority (BCDA) pitched to international firms the investment opportunities for the 288-hectare Filinvest New Clark City development, a future-ready and eco-friendly mixed-use township offering a vibrant live-work-play-learn environment, during the… Read More
TDF rates rise due to high liquidity situation
September 11, 2019, 9:06 pm
MANILA -- Strong demand for term deposit facility (TDF) on high excess liquidity resulted in across-the-board drop of its interest rates Wednesday. Data released by the Bangko Sentral ng Pilipinas (BSP) Wednesday showed that rate of the seven-day facility dropped to 4.3486 percent from last… Read More
China's tariff exemption on select US goods lifts PSEi
September 11, 2019, 8:50 pm
MANILA -- Philippine shares recovered Wednesday after China announced tariff exemptions on some US products while the peso depreciated after a three-day rally. The Philippine Stock Exchange index (PSEi) improved by 0.49 percent, or 38.42 points, to 7,967.90 points, which BPI Research pointed to… Read More
Tacloban kicks off reassessment of real properties
September 11, 2019, 8:07 pm
TACLOBAN CITY -- The city government has started reassessing the value of 36,312 real properties here to ensure that their owners are paying the correct taxes. In a press statement issued Wednesday by the city government, up for reassessment are 32,925 residential units, 3,340 business… Read More
Miners upbeat in 'going beyond mere compliance'
September 11, 2019, 8:04 pm
MANILA -- The Chamber of Mines of the Philippines (COMP) remains upbeat about "go(ing) beyond mere compliance" in its operations amid some unresolved policy issues, such as the ban on open pit mining that adversely affected the growth of the minerals development sector. In his presentation in… Read More
Subic workers back to 135,000 despite Hanjin closure
September 11, 2019, 2:24 pm
SUBIC BAY FREEPORT -- This premier Freeport is fast regaining its number of the workforce which was severely affected by the closure of Korean shipyard Hanjin Heavy Industries Corporation. Records from the Subic Bay Metropolitan Authority (SBMA) showed that the number of workers inside the… Read More
Strengthen agri, manufacturing to build PH trade resiliency: NEDA
September 10, 2019, 9:56 pm
MANILA – Building strategic relationships with key trading partners, addressing issues in and boosting the competitiveness of agriculture and manufacturing sectors must be prioritized for Philippine trade to withstand global challenges, the National Economic and Development Authority said on… Read More
Coconut producer Axelum eyes expansion to hit up to 20% growth
September 10, 2019, 8:49 pm
MANILA -- Axelum Resources Corp., a coconut product manufacturer and exporter, which is set to launch its initial public offering (IPO) next month, is gearing up for aggressive expansion here and abroad in a bid to achieve up to 20-percent growth over the next two years. Company president and… Read More
Stocks, peso slip ahead of central bank policy meetings
September 10, 2019, 8:19 pm
MANILA -- The Philippine Stock Exchange index (PSEi) ended its four-day rise Tuesday while the peso weakened against the greenback due to risk aversion. The main stocks gauge dipped 0.39 percent, or 30.64 percent to 7,929.48 points, which BPI Research said the decline reflects the cautious… Read More
BTr partially awards 7-year T-bond, rate declines
September 10, 2019, 8:16 pm
MANILA -- Bureau of the Treasury’s (BTr) auction committee members partially awarded the seven-year Treasury bond (T-bond) Tuesday, as investors took a wait-and-see stance amid economic developments overseas. BTr offered the debt paper for PHP20 billion and tenders reached PHP22.149 billion.… Read More
5 projects seen to boost growth of PH mining sector
September 10, 2019, 6:03 pm
MANILA -- Five mining projects are expected to boost growth of the country's mining sector. Environment and Natural Resources Undersecretary for Climate Change and Mining Concerns Analiza Teh said the potential of the mining sector to be in the forefront of economic development "has yet to be… Read More
PH still among strongest Asia economies in '19: Fitch
September 10, 2019, 5:15 pm
MANILA -- Fitch Ratings is confident that the Philippine economy will remain among the strongest in the region this year with a growth of 6.1 percent as recovery is seen in the second half of the year. In a report on the APAC Sovereign Credit Review for the third quarter, the debt rater said the… Read More
SMB breaks ground for new facility in Iloilo
September 10, 2019, 12:48 pm
LEGANES, Iloilo – San Miguel Brewery Inc. (SMB) will hold the groundbreaking for a new production facility in Barangay Gua-an, Leganes, Iloilo on September 20. SMC president and chief operating officer Ramon S. Ang will lead the groundbreaking ceremony, together with Senator Franklin Drilon,… Read More
Oil companies to implement price rollback anew
September 9, 2019, 9:13 pm
MANILA – Several oil companies will slash fuel prices for the third consecutive week effective 6 a.m. on Tuesday (Sept. 10) given the same developments in the international oil market. In advisories, PTT Philippines, Petron Corporation, Flying V and Petro Gazz said prices of their respective… Read More
Dominguez downplays inflation impact of African swine fever
September 9, 2019, 8:34 pm
MANILA -- Finance Secretary Carlos Dominguez III has dismissed the impact of the African swine fever on domestic inflation rate, citing that consumers have alternatives to pork. “It’s a concern but there are substitutes to pork such as poultry, beef, and fish,” he told journalists in a… Read More
Positive sentiments lift PSEi, peso
September 9, 2019, 8:21 pm
MANILA -- Optimism on the US-China trade meeting in October lifted investors’ sentiment and buoyed both the Philippine stocks and the peso Monday. The Philippine Stock Exchange index (PSEi) rose 0.34 percent, or 26.65 points, to 7,960.12 points. Regina Capital Managing Director Luis Limlingan… Read More
BSP sets P50-B TDF offering this week
September 9, 2019, 8:19 pm
MANILA -- The Bangko Sentral ng Pilipinas (BSP) hiked by PHP10 billion the offering for its term deposit facility (TDF) for the auction on Wednesday. In an advisory Monday, the central bank said the seven-day facility will still be offered for PHP10 billion and the 28-day facility for PHP20… Read More
