Business
Dar bares more interventions for affected rice farmers
September 4, 2019, 8:14 pm
MANILA -- The Department of Agriculture (DA) will be implementing more interventions to help rice farmers affected by a decline in palay prices. In a media briefing in Malacañang on Wednesday, DA Secretary William Dar said the National Food Authority (NFA) will speed up the “turnaround” of… Read More
Term deposit rates mixed
September 4, 2019, 8:12 pm
MANILA -- Rates of the central bank’s term deposit facility (TDF) are mostly down Wednesday despite the larger bids submitted by banks. Data released by the Bangko Sentral ng Pilipinas (BSP) showed that the average rate of the seven-day facility went down to 4.4141 percent from 4.4852 percent… Read More
PSEi, peso rise on possible withdrawal of HK's extradition bill
September 4, 2019, 7:45 pm
MANILA -- Reports about the plan to withdraw Hong Kong’s controversial extradition bill lifted investors’ sentiment and allowed the Philippine Stock Exchange index (PSEi) and the peso to recover Wednesday. After two days of decline, the main equities index gained 0.46 percent, or 36.15 points,… Read More
Improving PH investment attractiveness to benefit from trade war
September 4, 2019, 7:43 pm
MANILA -- The Philippines should work on reducing restrictions on foreign direct investments in order to benefit from opportunities amid the trade war between the United States (US) and China, according to a trade official. Marie Sherylyn Aquia, chief of Multilateral Relations Division at… Read More
NegOcc NFA stations buy palay at higher price
September 4, 2019, 4:14 pm
BACOLOD CITY -- Buying stations of the National Food Authority (NFA) in Negros Occidental are open to purchasing locally-produced palay at a higher price amid the prevailing low buying-price offered by traders. NFA provincial manager Frisco Canoy on Tuesday said they are offering a competitive… Read More
Rise of digital payments in PH ‘very encouraging’: BSP
September 3, 2019, 10:42 pm
MANILA -- Digital payment transactions in the Philippines, which is targeted to hit about 20 percent of total transactions by 2020, is increasing in line with the bid of the Bangko Sentral ng Pilipinas (BSP). BSP Deputy Governor Chuchi Fonacier said monetary officials “are just awaiting the… Read More
Tuna players push for adoption of new technologies
September 3, 2019, 9:11 pm
GENERAL SANTOS CITY -- Tuna industry players are pushing for the adoption of more technologies to further improve their operations and help promote the proper conservation and management of tuna and other critical marine resources.Joaquin Lu, president of the Socsksargen Federation of Fishing and… Read More
Cebu LGUs urged to create energy plan
September 3, 2019, 9:07 pm
CEBU CITY -- The Department of Energy (DOE) on Tuesday urged local government units (LGU) in Cebu to create their own energy plans to secure their respective energy supply as well as help steer the country closer towards sustainable prosperity. Michael Sinocruz, Planning Division chief of DOE's… Read More
DA to impose measures vs. pest-packed imported rice
September 3, 2019, 8:45 pm
MANILA -- The Department of Agriculture (DA) will impose sanitary and phytosanitary (SPS) measures against imported rice as imports have ballooned to 2.2 million metric tons (MT) to have found to be “bukbok-packed” (pests). Imported rice has been found in the past to require heavy… Read More
Gov’t to help rice farmers as palay prices fall to P7 per kilo
September 3, 2019, 8:21 pm
MANILA -- Malacañang on Tuesday vowed to assist farmers suffering from income loss as prices of palay (rice) have dropped to PHP7 per kilo to compete with imported rice. “Palagi naman ang gobyerno tutulungan ang mga nangangailangan (The government always helps those in need),” Presidential… Read More
Stocks, peso weaken on tariff issues on Chinese goods in US
September 3, 2019, 7:23 pm
MANILA -- Risk aversion again hurt both the Philippine Stock Exchange index (PSEi) and the peso Tuesday. The main equities gauge gave up 1.44 percent, or 113.82 points, to 7,804.71 points. Regina Capital Managing Director Luis Limlingan traced the decline to the implementation by the US… Read More
Applications for ‘Bagwis’ Award still open: DTI
September 3, 2019, 7:17 pm
SAN JOSE DE BUENAVISTA, Antique -- Interested businessmen in the province of Antique may still apply for the prestigious Bagwis Award being conferred by the Department of Trade and Industry (DTI). Glen Fernando, DTI Antique Trade and Industry Development Specialist, said in an interview Tuesday… Read More
Lazada wants MSMEs, housewives to be partners
September 3, 2019, 6:43 pm
MANILA -- E-commerce platform Lazada Philippines is urging micro, small, and medium enterprises (MSMEs) and even housewives to be its partners or sellers. Lazada Philippines does not take commission from anyone, only from big brands in LazMall (Lazada Mall), country chief operating officer Carlos… Read More
DA chief wants land use plan in agriculture
September 3, 2019, 6:30 pm
MANILA -- Agriculture Secretary William Dar proposed for the enactment of a National Land Use Act to protect conversion of farmlands into other uses, a major policy pushed by the private sector for many years but has faced opposition from some legislators. “Our position is we don’t have a… Read More
BSP targets PH to be a 'cash-lite society': exec
September 3, 2019, 6:25 pm
MANILA -- An executive of the Bangko Sentral ng Pilipinas (BSP) said it is targeting for the Philippines to become a "cash-lite society" but would take time to do so. In an interview with the Philippine News Agency (PNA) on Tuesday, Melchor Plabasan, officer in charge, BSP Technology Risk and… Read More
DTI slaps definitive safeguard duty on cement
September 3, 2019, 5:57 pm
MANILA -- The Department of Trade and Industry (DTI) has ordered the imposition of definitive safeguard duty on cement for three years to protect the domestic industry from adverse effects caused by a surge in imports. In a statement on Tuesday, Trade Secretary Ramon Lopez said they have decided… Read More
Economists see recovery of PH hot money by end-2019
September 2, 2019, 8:43 pm
MANILA -- Sustained deceleration of Philippines’ inflation rate is expected to help net foreign portfolio investments recover in the remaining months of 2019 even after posting net outflows in recent months. Bangko Sentral ng Pilipinas (BSP) data show that as of the week ending August 9, 2019,… Read More
BSP slashes TDF offering in half to P40-B
September 2, 2019, 8:39 pm
MANILA -- Term deposit facility (TDF) offering for the auction on September 4, 2019 has been reduced to PHP40 billion from PHP80 billion last week. Data released by the Bangko Sentral ng Pilipinas (BSP) Monday showed that both the seven and 14-day facilities will be offered for PHP10 billion,… Read More
Land Bank to expand banking services in remotest provinces
September 2, 2019, 8:36 pm
LOS BAŇOS, Laguna -- The Land Bank of the Philippines (LBP) will expand the coverage of its banking services by setting up additional satellite centers and deployment of mobile tellers in remotest and depressed provinces nationwide. In an interview with the Philippine News Agency, LBP First Vice… Read More
PH T-bill rates end mixed in Monday auction
September 2, 2019, 7:21 pm
MANILA -- Rates of the Philippines’ Treasury bills (T-bills) ended mixed Monday, with the shorter tenors registering drops but demand remained strong. Rate of the 91-day paper slipped to 3.149 percent from 3.254 percent that the 92-day T-bill fetched during the auction last August 19. The tenor… Read More
