Business
Peso, stocks slip on lack of leads
September 2, 2019, 7:16 pm
MANILA -- Both the Philippine peso and the local bourse closed the week’s first trading day down due partly to the lack of major releases in the US and to investors’ wait-and-see stance as the new tariff on Chinese goods slapped by the US starts. The local currency ended the day at 52.105 from… Read More
Northern Samar town eyes automated business registration
September 2, 2019, 4:12 pm
ROSARIO, Northern Samar -- The local government unit here is eyeing to implement the Electronic Business Permits and Licensing System (e-BPLS). Nelia Miranda, Rosario municipal budget officer, said implementing the e-BPLS is timely because the local government is on the process of updating their… Read More
D&L Industries cited among honored firms in Asean
September 1, 2019, 5:08 pm
MANILA -- Food and plastic input manufacturer D&L Industries emerged as one of the honored companies in Asean (Association of Southeast Asian Nations) by New York-based Institutional Investor in its 2019 All-Asia Executive Team survey, as it ranked among the top in a list of over 1,600 Asian… Read More
AirAsia PH names new chairperson
September 1, 2019, 4:01 pm
MANILA -- AirAsia Philippines has named Joseph Omar Castillo as new chairman of the board, effective September 1. Castillo, a lawyer, joined the board earlier this year. He has over a decade of experience in corporate matters, contact support, immigration, among others. In an e-mail on Sunday,… Read More
SteelAsia, HBIS ink $1-B investment deal for Batangas plant
September 1, 2019, 12:09 pm
BEIJING -- The Philippines’ largest steelmaker, SteelAsia Manufacturing Corp., has signed a memorandum of understanding (MOU) with China’s HBIS Group Limited for their first integrated iron and steel facility in Lemery, Batangas. The two steel companies inked their deal here Friday during the… Read More
Stocks, peso end week up on US-China trade news
August 30, 2019, 9:08 pm
MANILA -- Investors' appetite remained Friday and allowed both the Philippine Stock Exchange index (PSEi) and the peso to end the week higher. The main stocks gauge rose 1.10 percent, or 86.85 points, to 7,979.66 points. Regina Capital Managing Director Luis Limlingan said "investors bought up… Read More
PPA plans to construct P300-M shipbuilding facility by 2020
August 30, 2019, 8:42 pm
MANILA -- The Philippine Ports Authority (PPA) on Friday announced its plans to start construction of the Duterte administration’s first shipbuilding facility next year to bolster the country’s shipping industry. In a press conference following the conclusion of the Maritime Safety Summit for… Read More
Pernia assures care for environment while meeting power needs
August 30, 2019, 8:38 pm
MANILA -- Socioeconomic Planning Secretary Ernesto Pernia on Friday assured the public that the bid to meet the domestic economy’s rising demand for power is being done without compromising the environment. In his speech during the Forum on Renewable Energy and Waste-to-Energy PPPs jointly… Read More
PHL, China sign $219-M loan accord for PNR railway project
August 30, 2019, 7:17 pm
BEIJING -- The Philippines and China signed here Thursday an agreement for a USD219.78-million preferential buyer’s credit facility to fund the project management consultancy for the Philippine National Railways (PNR) South Long-Haul Project. This infrastructure project under the Duterte… Read More
BSP eyes August inflation at 1.3% to 2.1%
August 30, 2019, 5:30 pm
MANILA -- Philippine monetary officials forecast a further deceleration of the inflation rate with August 2019 figure projected to stay between 1.3 to 2.1 percent given the lower fuel prices. In a statement Friday, the Bangko Sentral ng Pilipinas (BSP) said its Department of Economic Research… Read More
S&T crucial in sustainable dev't action plans: NEDA
August 30, 2019, 10:24 am
LOS BAŇOS, Laguna -- An official of the National Economic Development Authority (NEDA) on Thursday said technology and research are vital in the country’s integrated development plan to meet the 17 Sustainable Development Goals under the United Nations' Agenda 2030. NEDA Undersecretary… Read More
Grab PH introduces mobile app’s bunch of new services
August 29, 2019, 10:00 pm
MANILA – Grab Philippines on Thursday announced upcoming features of their mobile application which would allow users to book salon services at home, send packages or gifts nationwide, watch videos on demand, book hotel rooms, purchase tickets for point-to-point provincial buses, and pay online… Read More
DTI serves village entrepreneurs through ‘Negosyo Serbisyo'
August 29, 2019, 9:24 pm
BACOLOD CITY -- More than 500 potential and existing entrepreneurs in Negros Occidental have so far availed of the “Negosyo Serbisyo sa Barangay” of the Department of Trade and Industry (DTI). Engiemar Tupas, senior trade and industry development specialist of DTI-Negros Occidental, said the… Read More
DOF exec sees higher budget gap due to spending catch-up plan
August 29, 2019, 8:35 pm
MANILA -- A ranking official of the Department of Finance (DOF) expects the budget gap increasing in the remaining months of the year as the government implements a catch-up spending plan. “With the catch-up spending plan, we are now executing, we expect the budget deficit to widen in the… Read More
2 NegOcc power coops cut rates in August
August 29, 2019, 8:20 pm
BACOLOD CITY -- Two electric cooperatives in Negros Occidental have decreased residential rates for the month of August due to lower generation charge and reduced price in the Wholesale Electricity Spot Market (WESM). In the south, the Negros Occidental Electric Cooperative (Noceco) reported a… Read More
Stocks rise anew, peso up vs. USD
August 29, 2019, 7:23 pm
MANILA -- Local stocks ended higher on Thursday while the peso recovered against the greenback as trade concerns eased a bit, after a Chinese official said they will not hit back against US’ latest tariff hike for now. The Philippine Stock Exchange index (PSEi) finished the day up by 0.58… Read More
Vehicle importers, distributors hit 50K units sales in July
August 29, 2019, 6:55 pm
MANILA -- The Association of Vehicle Importers and Distributors, Inc. (AVID) reported a total of 50,164 units sold for the first seven months of 2019, a slight dip from the 50,505 units sold in the same period last year. In July alone, AVID reached a total of 6,987 units, an 11-percent decrease… Read More
Piñol can make MinDA more relevant: business group
August 28, 2019, 9:12 pm
MANILA -- A business group is optimistic that newly-appointed Mindanao Development Authority (MinDA) chair Emmanuel “Manny” Piñol can make the agency more relevant given his connections as former Agriculture Secretary. In an interview, Philippine Banana Growers and Exporters Association… Read More
TDF rates rise despite lower bids
August 28, 2019, 9:01 pm
MANILA -- Rates of the Bangko Sentral ng Pilipinas' (BSP) term facilities rose across-the-board Wednesday despite the undersubscription in two of the three tenors. Data released by the central bank showed that rate of the seven-day facility increased to 4.4852 percent from 4.4597 percent during… Read More
Stocks recover, peso ends sideways still on trade concerns
August 28, 2019, 7:34 pm
MANILA -- Trade concerns, especially between the US and China, continued to worry investors but the Philippine Stock Exchange index (PSEi) managed to recover while the peso ended sideways to the greenback Wednesday. The main equities index rose by 1.29 percent, or 100.12 points, to 7,847.50… Read More
