Business
BOI-approved investments hit P313-B from January to July
August 20, 2019, 7:39 pm
MANILA -- The total approved investments registered with the Board of Investments (BOI) surged by 24 percent to PHP312.8 billion between January to July 2019, indicating investors’ continuous confidence in the country. In a statement Tuesday, the BOI said it approved foreign investments worth… Read More
BOC-Cebu open on Aug. 21, 26 holidays
August 20, 2019, 4:29 pm
CEBU CITY -- The Bureau of Customs - Port of Cebu announced on Monday that the processing of import entries, as well as payments of customs duties and taxes, will be accepted on August 21 and 26 despite being legal holidays. Lawyer Charlito Martin Mendoza, acting district collector of BOC-Cebu,… Read More
More Clark-GenSan flights pushed to boost economic ties
August 19, 2019, 10:46 pm
CLARK FREEPORT, Pampanga -- Members of the Metro Clark Advisory Council (MCAC) are asking various airlines companies here to mount flights between this Freeport and General Santos City (GenSan) to allow more possible opportunities for investments, trade, and tourism for both areas. This was… Read More
Toyota PH targets sales of 165K vehicles this year
August 19, 2019, 9:20 pm
MANILA -- Toyota Motor Philippines (TMP) expects to double sales volume of its Hiace Grandia model, as it introduced to the Philippine market on Monday its new variants to hit vehicle sales of 165,000 units this year. TMP president Satoru Suzuki told reporters they expect the launch of the All New… Read More
Northern Cagayan airport starts commercial flights
August 19, 2019, 7:22 pm
CALASIAO, Pangasinan – Commercial flights started operations at the Cagayan North International Airport (CNIA) on Sunday, with Royal Air’s (RJ 100) inaugural flight from Macau to Lal-lo municipality. In an interview, Cagayan Economic Zone Authority (CEZA) Special Assistant for Investments… Read More
BSP to offer P100-B under term deposit facility
August 19, 2019, 6:58 pm
MANILA -- The Bangko Sentral ng Pilipinas (BSP) will offer PHP100 billion under its term deposit facility (TDF) during the auction on August 22, 2019. In an advisory, the central bank said the six-day facility, a day shorter than the regular tenor because of the holiday on Wednesday, will be… Read More
Stocks, peso start the week up
August 19, 2019, 6:56 pm
MANILA -- The Philippine Stock Exchange index (PSEi) recovered while the peso improved against the US dollar on Monday, as investors were partly appeased by global growth and trade concerns. Regina Capital Managing Director Luis Limlingan attributed the local stocks’ performance on the first… Read More
T-bill rates down on lower inflation, interest rates expectations
August 19, 2019, 6:53 pm
MANILA -- Rate of the Philippines’ Treasury bills (T-bills) on Monday declined given the expectations of further lowering in the Bangko Sentral ng Pilipinas’ (BSP) and Federal Reserve’s key rates as well as the inflation rate. Average rate of the 92-day paper went down to 3.254 percent from… Read More
BARMM budgetary aid seen to spur economic activities
August 19, 2019, 5:47 pm
MANILA -- The country’s chief economist expects the increased budgetary support to newly established Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) will likely result in more economic activities, which will benefit the people in the region. During the First Bangsamoro Global Economic… Read More
SEC clears Axelum Resources, AllHome stock market debut
August 19, 2019, 5:08 pm
MANILA -- The Securities and Exchange Commission (SEC) has cleared the way for coconut product manufacturer, Axelum Resources Corp., and home improvement retailer AllHome Corp. to debut on the stock market. In its August 19 meeting, the SEC en banc approved the initial public offerings (IPOs) of… Read More
Oil firms to hike prices on Tuesday
August 19, 2019, 2:16 pm
MANILA -- Several oil companies have announced they would implement price hikes effective 6 a.m. on Tuesday. In advisories, PTT Philippines and Seaoil said price of their respective gasoline products will go up by PHP0.35 per liter. Petro Gazz said price of its gasoline products will increase by… Read More
Farmers affected by rice tariffication to get P1.5-B loan aid
August 17, 2019, 2:21 pm
MANILA -- The government will roll out a PHP1.5-billion loan program for farmers who were affected by the Rice Tariffication Law (RTL) due to the influx of cheaper imports. At the sidelines of a forum on hybrid rice on Friday, Agriculture Secretary William D. Dar said instead of the initial… Read More
Ayala Land Premier eyes P16.1-B sales from 1st office dev’t
August 16, 2019, 9:15 pm
MANILA -- Luxury developer Ayala Land Premier (ALP) expects to generate sales of PHP16.1 billion from its first office development in Quezon City, on the back of increasing demand for prime office spaces. “I think it is all related to the country’s economic growth we have seen over the last 10… Read More
DTI-DPWH convergence project in Aurora starts
August 16, 2019, 7:52 pm
BALER, Aurora -- The Department of Trade and Industry (DTI) and Department of Public Works and Highways (DPWH) have rolled out a convergence program that would promote economic growth and infrastructure development in the northern towns of this province. DTI provincial director Edna Dizon said… Read More
Peso gains, stocks drop on trade concerns
August 16, 2019, 7:42 pm
MANILA -- Risk aversion remained high on account of the US-China trade issues but the Philippine peso managed to end the week up against the greenback while the main equities gauge ended in the red. The local currency finished the week at 52.44 from the previous day's 52.545 close, which a trader… Read More
Economist optimistic of 6% GDP in 2019
August 16, 2019, 7:40 pm
MANILA -- An economist of ING Bank Manila is hopeful that Philippine economic growth will hover about six percent this year despite the weak output in the first half, citing government efforts to boost the economy. In a report, ING Bank Manila senior economist Nicholas Mapa noted recent Department… Read More
NLEX implements major road projects, improvements in Bulacan
August 16, 2019, 7:38 pm
CITY OF MALOLOS, Bulacan -- The NLEX Corporation is implementing major road projects and improvements in some areas of this province to help alleviate traffic congestion. Kit Ventura, head of the NLEX Communications Office, said on Thursday that the improvements being undertaken in the Bulacan… Read More
SIA boosts 'green' initiatives; eyes being plastic straw-free
August 16, 2019, 7:36 pm
MANILA -- Singapore Airlines (SIA) is enhancing its environmentally-sustainable practices, and targets to become entirely plastic straw-free by September, an executive in its Philippine office said on Friday. The move is the carrier's way of being environmentally responsible and promoting… Read More
Lower required capital for foreign retailers to impact SMEs
August 15, 2019, 9:30 pm
MANILA -- Retail industry players have reiterated their opposition to the measure to reduce the minimum capitalization for foreign retailers intending to put up operations in the country, noting the need to protect the small and medium enterprises (SMEs) from foreign counterparts. Philippine… Read More
DA chief vows to review IRR of sugarcane law
August 15, 2019, 9:28 pm
MANILA -- Agriculture Secretary William Dar on Thursday vowed to review the implementing rules and regulations (IRR) of the Sugarcane Industry Development Act (SIDA). Dar also committed to review the memorandum of agreement (MOA) with government agencies and the private sector on the… Read More
