Business
TUCP lauds refiling of Security of Tenure bill
July 30, 2019, 3:50 pm
MANILA -- Trade Union Congress of the Philippines (TUCP), touted as the country's largest labor union, extolled Senator Joel Villanueva's initiative to refile the vetoed Security of Tenure bill, better known as the "End Endo Bill." “We thank Senator Villanueva for filing the Anti-endo bill in… Read More
Stakeholders have until July 31 to comment on PPSA draft IRR: DOF
July 30, 2019, 1:59 pm
MANILA -- The Department of Finance (DOF) announced on Tuesday that stakeholders seeking to comment on the draft implementing rules and regulations (IRR) for the Personal Property Security Act (PPSA) have until Wednesday (July 31) to submit their comments. The final IRR is set to be released… Read More
8990 Holdings optimistic about achieving 2019 revenue target
July 29, 2019, 9:25 pm
MANILA -- Property developer 8990 Holdings Inc. is optimistic of achieving its revenue target this year after delivering “very good” performance in the first half, as it gears up towards its revenue goal of PHP20 billion by 2020. “(Our guidance this year is) PHP13.5 billion in revenues. This… Read More
Bidders show interest on Meralco’s supply requirements
July 29, 2019, 8:50 pm
MANILA -- At least 22 bidders have indicated interest to join the competitive selection process (CSP) for Manila Electric Company’s (Meralco) three power supply contracts with a total of 2,900-megawatts (MW) set for bidding this year. In a briefing Monday, Meralco utility economics analysts… Read More
DOF sees little impact of PCSO games suspension on UHC funds
July 29, 2019, 8:43 pm
MANILA – Impact of the suspension of all Philippine Charity Sweepstakes Office–regulated games on the Universal Health Care (UHC) is minute since the agency’s share on the program’s fund is only a little over one percent, a Department of Finance (DOF) official said on Monday. DOF Assistant… Read More
Online stock broker sees PSE index hitting 9,100-level next year
July 29, 2019, 8:40 pm
MANILA -- Online stock brokerage COL Financial sees corporate earnings growing 13 percent this year, boosting the rise of the Philippine Stock Exchange index (PSEi) to 8,600 this year, and even reach a new high of 9,100 level by next year. “It (the market) will still grow next year because we… Read More
PSEi rise, peso sideways ahead of FOMC, US-China meetings
July 29, 2019, 7:47 pm
MANILA – The Philippine Stock Exchange index (PSEi) ended Monday up even ahead of the Federal Open Market Committee (FOMC) meeting decision, among others, while the peso ended little changed against the US dollar. The main equities gauge finished the day at 8,188.52 points, up 0.06 percent or… Read More
Oil companies announce price adjustments Tuesday
July 29, 2019, 7:14 pm
MANILA - -Several oil companies on Monday announced changes in the prices of their products effective 6 a.m. on Tuesday, July 30, 2019. Petron Corporation, PTT Philippines and Flying V said price of their respective gasoline products will be slashed by PHP0.95 per liter. On the other hand, these… Read More
New PAL president named
July 29, 2019, 7:10 pm
MANILA -- The Philippine Airlines (PAL) board of directors confirmed on Monday the appointment of Gilbert Santa Maria as the flag carrier's new president and chief operating officer, following the retirement of Jaime Bautista last month. The 15-man PAL board, in its regular meeting at the Century… Read More
PH to focus on food products in China expo
July 29, 2019, 5:00 pm
BEIJING – The Philippines aim to increase its food exports to the world’s largest market as the country will participate in the China International Import Expo (CIIE) in November. Vice Consul Mario Tani, of the Philippine Trade and Investment Center in Shanghai, told the Philippine News Agency… Read More
‘Anti-endo’ bill veto needed to clarify gray areas: biz leader
July 29, 2019, 1:22 pm
BACOLOD CITY -- An official of the Metro Bacolod Chamber of Commerce and Industry (MBCCI) expressed support to the move of President Rodrigo R. Duterte to veto the Security of Tenure Bill for clarification of certain provisions. “There are many ‘gray areas’, which can cause confusion that it… Read More
Japanese coffee franchise eyes raw materials from NegOcc
July 28, 2019, 5:58 pm
BACOLOD CITY – Owners of the Ueshima Coffee Company (UCC) Clockwork franchise in this city are planning to source raw materials from Negrense farmers in the future. Bacolod-born Steve Choa, president and managing director of franchisee ACC Top Food Ventures, said they are currently sourcing out… Read More
P4.4-B fresh capital to fuel LRWC’s growth
July 28, 2019, 2:38 pm
MANILA – After successfully raising PHP4.4 billion via placement of shares, Leisure & Resorts World Corporation (LRWC) is aggressively implementing expansion initiatives by developing new gaming sites, buying existing ones, and expanding profitable ones. It plans to open or acquire 10 to 15 new… Read More
DOF studying impact of gaming ban on UHC funds
July 27, 2019, 5:42 pm
MANILA – The Finance Department is studying President Rodrigo R. Duterte’s directive for the closure of all Philippine Charity Sweepstakes Office (PCSO)-regulated gaming activities vis-à-vis its impact on financing the Universal Health Care (UHC) program. “We are evaluating the immediate… Read More
PAL's Clark-Basco flights remain normal
July 27, 2019, 3:21 pm
MANILA -- Despite the earthquakes that struck Batanes on Saturday morning, Philippine Airlines' (PAL) flights between Basco and Clark remain normal.The magnitude 5.4 quake hit 12 km. northeast of Itbayat at 4:16 a.m. Another magnitude 5.9 quake struck 21 km. northeast of Itbayat at 7:37 a.m.PAL… Read More
Peso ends week sideways, PSEi down on investors' concerns
July 26, 2019, 8:29 pm
MANILA – The Philippine peso was little changed against the US dollar after investors’ hopes for a cut in the European Central Bank’s (ECB) key rates were doused while the main equities index ended its three-day rally as the week's trading came to a close. The local currency finished the… Read More
DOF official allays fears on Personal Property Security law
July 26, 2019, 7:44 pm
MANILA – An official of the Department of Finance (DOF) said the banking industry need not fret about the perceived impact of the Personal Property Security Act on their enterprises since all their concerns will be heard. This was stressed by Finance Assistant Secretary Danielle Marie… Read More
UCPB confirms resignation of bank president
July 26, 2019, 6:57 pm
MANILA – An official of the government-controlled United Coconut Planters Bank (UCPB) on Friday confirmed the resignation of its president and Chief Executive Officer (CEO), Higinio O. Macadaeg Jr. In a reply to the Philippine News Agency's (PNA) inquiry, UCPB Corporate Communication Head Rona… Read More
New air navigation system now fully operational: CAAP
July 26, 2019, 6:43 pm
MANILA -- The country's new air navigational system -- the Communications, Navigation, Surveillance/Air Traffic Management (CNS/ATM), is now fully operational, the Civil Aviation Authority of the Philippines (CAAP) announced Friday. "There was a cutover in November. Operations have started at that… Read More
Innovation, technology boosts economic growth: NEDA
July 26, 2019, 6:36 pm
MANILA -- Socioeconomic Planning Secretary Ernesto Pernia has stressed the need to vigorously advance the country’s science, technology and innovation (STI) agenda, which is key to economic growth and improving the quality of life of Filipinos. Speaking in Business Intelligence and Data… Read More
