Business
PhilMech shifts to 'needs-based' strategy in farm mechanization
August 1, 2019, 6:16 pm
MANILA -- The Philippine Center for Postharvest Development and Mechanization (PHilMech) is shifting its strategy to "needs-based" approach to make rice farms more productive. PhilMech chief science research specialist Rod Estigo, in a media interview on Thursday, said that through this approach,… Read More
Angkas sorry for 'inappropriate tweet' following backlash
August 1, 2019, 1:58 pm
MANILA -- Motorcycle ride-sharing company Angkas on Thursday morning released a statement following backlash from the Philippine National Police (PNP), Department of Transportation (DOTr) and others from the online community for a racy promo message they posted on Twitter for first-time Angkas… Read More
DOF to focus on enacting higher 'sin' taxes to fund UHC
August 1, 2019, 1:30 pm
MANILA -- The contribution of the Philippine Charity Sweepstakes Office (PCSO) to the funds for Universal Health Care (UHC) would be minimal, accounting for only 1.2 percent of the total requirement of PHP257 billion next year. This is why the Department of Finance (DOF) would devote its efforts… Read More
Bulacan airport, SMC's 'biggest investment' in PH: Ang
August 1, 2019, 12:40 pm
MANILA — The New Manila International Airport (NMIA) in Bulacan set to be built by San Miguel Holdings Corporation (SMHC) this year will be the company’s “single biggest investment” in the Philippines. In a statement released on Wednesday, SMHC president and chief operating officer Ramon… Read More
Aboitiz Equity nets P9-B in H1
July 31, 2019, 8:54 pm
MANILA -- Conglomerate Aboitiz Equity Ventures (AEV) on Wednesday said its first-half profit declined by 11 percent, dragged mainly by lower-income share of power business. In a disclosure to the Philippine Stock Exchange, the AEV reported its net income reached PHP9 billion in January to June… Read More
AirAsia PH appoints new CEO
July 31, 2019, 8:53 pm
MANILA -- Low-cost carrier AirAsia Philippines on Wednesday announced the appointment of Ricardo Isla as its new chief executive officer. Isla assumed his new post the same day, replacing Capt. Dexter Comendador, who is now the carrier's chief operations officer (COO). Comendador concurrently held… Read More
TDF rates up amid undersubscription
July 31, 2019, 7:01 pm
MANILA – Undersubscription was registered on Wednesday’s auction of the Bangko Sentral ng Pilipinas’ (BSP) Term Deposit Facility (TDF) but rates of all three tenors increased. Rate of the seven-day facility improved to 4.5967 percent from 4.5629 percent during the auction last July 24. The… Read More
Implementation of safety nets under Rice Tariff law urged
July 31, 2019, 6:57 pm
MANILA -- Rice traders and manufacturers urged the government to implement safety measures under the Rice Tariffication Law to address a continued drop in prices of the country's staple grain. Philippine Chamber of Agricultural and Food Inc. (PCAFI) president Danilo Fausto, in a recent meeting… Read More
Non-traditional products to enhance coconut industry
July 31, 2019, 6:30 pm
MANILA -- The Philippines, the second largest coconut producing country in the world, has undergone transformation in the past 15 years -- from the dominance of coconut oil as the main product for export, the market profile has shifted into a multi-product industry with non-traditional coconut… Read More
Peso ends flat, PSEi slips in midweek trading
July 31, 2019, 6:26 pm
MANILA -- The Philippine peso ended flat against the greenback on Wednesday while the Philippine Stock Exchange index (PSEi) closed in the red along with most counters ahead of an anticipated rate adjustment decision by the Federal Open Market Committee (FOMC). The local currency ended the day at… Read More
SSS urges employers to avail of condonation program
July 31, 2019, 4:42 pm
SAN JOSE DE BUENAVISTA, Antique -- The Social Security System (SSS) is urging employers in the province of Antique to avail of the Contribution Penalty Condonation Program (CPCP) that will end on September 6 this year. In a press conference Tuesday, SSS senior vice president Helen C. Solito, who… Read More
BSP eyes July inflation between 2.0 to 2.8%
July 31, 2019, 4:07 pm
MANILA -- Lower prices of rice and cooking gas are seen to cause the country's inflation rate to sustain its decline in July 2019, with government economists seeing a figure of between 2-2.8 percent. In a statement, the Bangko Sentral ng Pilipinas (BSP) said its Department of Economic Research… Read More
SEC warns public vs. investing in Scentko, Brendahl Cruz
July 31, 2019, 2:00 pm
MANILA -- The Securities and Exchange Commission (SEC) warns the public against investing in Scentko World Corporation and its purported parent, Brendahl Cruz Holdings, Inc., which have been promising a 400 percent return from their “buy and earn” program. In an advisory posted on Wednesday… Read More
Immediate enactment of land use law urged
July 30, 2019, 8:09 pm
MANILA – The NEDA Board’s National Land Use Committee (NB-NLUC) in a statement on Tuesday said it is calling on Congress to immediately enact the National Land Use Act (NaLUA), as proposed by NLUC, to ensure the sustainable and efficient use of the country’s land and physical resources. In… Read More
Landbank to increase agri loans to Mindanao
July 30, 2019, 7:53 pm
MANILA – Top management of Land Bank of the Philippines (Landbank) said that Mindanao, being the country’s food basket, will definitely receive greater focus in the bank's bid to increase lending to the agriculture sector. Landbank President and Chief Executive Officer (CEO) Cecilia Borromeo… Read More
Peso rises to 50-level, but local stocks slip
July 30, 2019, 6:34 pm
MANILA -- The Philippine peso appreciated against the US dollar Tuesday but the Philippine Stock Exchange index (PSEi) slipped after investors stayed on the sidelines as US Federal Reserve officials hold their rate setting meet. The local currency ended the day at PHP50.89 against the greenback… Read More
PH launches Samurai bond sale
July 30, 2019, 6:15 pm
MANILA -- The Philippine government on Tuesday launched its latest yen-denominated Samurai bond with three, five, seven and 10-year tenors, with a possible total issuance of between USD750 million and USD1 billion. Earlier, National Treasurer Rosalia de Leon said they were considering the issuance… Read More
20-year PH T-bond rate declines
July 30, 2019, 6:14 pm
MANILA -- The rate of 20-year Treasury bonds (T-bond) have declined to 5.015 percent Tuesday, prompting National Treasurer Rosalia de Leon to attribute the development to a high demand due to expectations of a reduction in the central bank’s key rates. Its average rate is lower than the 5.17… Read More
Farm gate prices of chicken declined in July: Laban Konsyumer
July 30, 2019, 5:39 pm
MANILA -- Laban Konsyumer, Inc. (LKI), a private-sector group advocating consumer rights, said on Tuesday that farm gate prices of chicken have gone on a steady decline in July. In a Viber message, LKI president Vic Dimagiba said "farm gate prices of chicken shows continuous decline in July. And… Read More
AboitizLand’s P7-B investment transforms Batangas landscape
July 30, 2019, 5:10 pm
LIPA CITY, Batangas -- Real estate developer AboitizLand poured PHP7 billion in investments in this city and nearby Malvar town, transforming them Batangas communities into industrial hubs Marking its 25th anniversary, AboitizLand has formally announced over the weekend the expansion of its… Read More
