Business
Ample food supply behind moderate July 2019 inflation: BSP
August 6, 2019, 3:54 pm
MANILA -- The Philippines' inflation rate further slowed to 2.4 percent last July, falling neatly within the Bangko Sentral ng Pilipinas’ (BSP) 2.0-2.8 percent forecast and similar to the July 2017 figure. The central bank, in a statement Tuesday, said the deceleration of domestic inflation rate… Read More
PAL's Hong Kong flights back to normal
August 6, 2019, 1:53 pm
MANILA -- Philippine Airlines' (PAL) services to and from Hong Kong is now back to normal operation, it announced on Tuesday. PAL and other carriers had to cancel or reschedule a number of flights to and from Hong Kong on Monday, as protests were causing a slowdown in airport operations. The… Read More
July inflation hits 31-month low at 2.4%
August 6, 2019, 11:24 am
MANILA -- The country’s inflation rate further eased to a 31-month low at 2.4 percent in July as food prices continued to soften, boosting expectations of continued deceleration. Philippine Statistics Authority (PSA) Undersecretary Claire Dennis Mapa said last month’s figure was the lowest… Read More
Dominguez vows to recoup funds used in saving UCPB
August 5, 2019, 8:50 pm
MANILA – Finance Secretary Carlos Dominguez III said that all means will be exhausted to recover government's investment in United Coconut Planters Bank (UCPB), which may be due for privatization. He said the bank is now a government-owned and controlled corporation (GOCC) based on a Supreme… Read More
Converge ICT to install fiber optic technology for free
August 5, 2019, 8:47 pm
ANGELES CITY, Pampanga — Converge ICT Solutions Inc. announced on Monday that it will install fiber optic technology at no cost to consumers, initially in this province, to empower home and business establishments. In a press conference held at Cactus Jacks Smokehouse here, Converge ICT… Read More
Local markets weaken on global trade concerns
August 5, 2019, 8:47 pm
MANILA -- Trade concerns continued to cast a dark shadow over both the Philippine Stock Exchange index (PSEi) and the peso Monday. The local equities gauge declined 2.95 percent, or 239.91 points, to 7,890.02 points. “Philippine shares wiped out substantial gains from the previous month as… Read More
PH T-bills rates fall anew
August 5, 2019, 8:45 pm
MANILA -- The rates of Philippine Treasury bills (T-bills) declined Monday, prompting National Treasurer Rosalia De Leon to attribute this development to the decision by banks to tap government securities for excess funds. The Bureau of the Treasury (BTr) offered a total of PHP15 billion worth of… Read More
Bright future seen for PH capital market
August 5, 2019, 8:44 pm
MANILA – The Philippines’ financial and capital market, despite being smaller compared to some counterparts in Asia, has a bright future thanks in part to government's continued push for its development. Earlier, Pru Life UK President and Chief Executive Officer Antonio de Rosas said opinions… Read More
Ayala Land to launch P111-B projects in H2
August 5, 2019, 8:29 pm
MANILA -- Property giant Ayala Land Inc. (ALI) is in the process of launching PHP111 billion worth of projects in this year's second half, after delivering a 12-percent increase in net income in the first six months. “The economy continues to be quite supportive of the property industry. The GDP… Read More
DTI goes to poor communities, developing more entrepreneurs
August 5, 2019, 5:31 pm
LAOAG CITY -- Representatives of the Department of Trade and Industry are reaching out to underserved communities to help residents become entrepreneurs. As starting a business is quite challenging, DTI Acting Provincial Director Rosario Quodala said Monday that the Negosyo Serbisyo sa Barangay… Read More
No change in pump prices this week
August 5, 2019, 3:43 pm
MANILA -- Pump prices are holding steady this week, after oil companies discounted any movement in the prices of their products. In separate announcements, Pilipinas Shell, Seaoil, Petro Gazz and Flying V said neither upward nor downward price changes will be implemented on Tuesday, the day when… Read More
S&P gives PH Samurai Bond offer BBB+ ratings
August 2, 2019, 9:21 pm
MANILA -- S&P Global Ratings on Friday gave the Philippines’ latest 92 billion yen (USD 855.6 million) multi-year Samurai bond offer a ‘BBB+’ rating, which is the same grade conferred on the sovereign. “The notes represent direct, general, unconditional, unsecured, and unsubordinated… Read More
Villar urges Zambo Peninsula MSMEs to venture into halal
August 2, 2019, 9:14 pm
MANILA -- Senator Cynthia Villar has encouraged entrepreneurs across Zamboanga Peninsula to cash in on the huge global market demand for halal products, and make their region a gateway to Mindanao as the halal capital of the country. Villar said they have to get “serious” about making halal… Read More
Latest US tarriffs on Chinese goods to affect PH economy
August 2, 2019, 7:36 pm
MANILA – Economic risks confronting the Philippines increased further after US President Donald Trump announced another round of retaliatory tariffs on Chinese goods, which he attributed to Chinese officials failure to make good on their promises. “Definitely this action will tend to increase… Read More
BSP issues risk management guidelines for investments
August 2, 2019, 1:50 pm
MANILA -- The Monetary Board announced on Thursday that it has approved the risk management guidelines on investment activities of banks and quasi-banks (QBs) in its July 11 meeting. In a statement, the Board said the guidelines aim to set out the regulatory expectations in managing risks arising… Read More
25 budding MSMEs in Cebu finish DTI mentoring program
August 1, 2019, 9:32 pm
CEBU CITY – Twenty-five budding entrepreneurs in Cebu on Wednesday marched in a simple graduation ceremony, marking the start of their new lives as businessmen after completing the “Kapatid Mentor Me” (KMME) program of the Department of Trade and Industry (DTI) in Central Visayas. Asteria… Read More
Philex completes feasibility study on Silangan project
August 1, 2019, 8:27 pm
MANILA -- Philex Mining Corporation on Thursday said the definitive feasibility study for the first phase of the Silangan Project is finally complete. The Silangan mine is a large-scale, high-grade copper-gold development, with a number of greenfield and brownfield components, located in Surigao… Read More
PH economy likely grew 6% in Q2
August 1, 2019, 8:25 pm
MANILA -- The Philippine economy likely expanded by 6 percent in the second quarter and is poised to accelerate further all the way until yearend, supported by strong consumer, government, and investment spending. A joint report by the First Metro Investment Corp. (FMIC) and the University of Asia… Read More
BOC-Cebu surpasses target by P112.76-M in July
August 1, 2019, 7:21 pm
CEBU CITY -- The Bureau of Customs–Port of Cebu on Thursday reported that it had surpassed its revenue collection goal for the month of July by PHP112.766 million. BOC-Cebu Cash Division chief Conrado Abarintos said the Cebu port was able to collect PHP2.953 billion, which is 3.97 percent higher… Read More
Metro Pacific core profit hits P8.7B in H1
August 1, 2019, 6:37 pm
MANILA -- Infrastructure conglomerate Metro Pacific Investments Corporation (MPIC) booked slightly higher core net income in the first half of 2019, driven by the growth of its power, water, toll roads, and hospital businesses. MPIC reported on Thursday its consolidated core net income reached… Read More
