Business
DMCI Homes launches QC project to meet rising demand
July 23, 2019, 8:25 pm
MANILA – Premier Quadruple A developer DMCI Homes has launched Cameron Residences to add to its growing portfolio in the country’s biggest city in terms of population. "Quezon City more than ever is shaping up to be a real estate hotspot with the government's aggressive infrastructure push in… Read More
BSP to offer P80-B in this week’s TDF auction
July 23, 2019, 8:24 pm
MANILA – The Bangko Sentral ng Pilipinas (BSP) maintained at PHP80 billion the Term Deposit Facility (TDF) offer volume for this week, a repeat of last week's volume. Data released by the central bank show that both the seven-day and 14-day facilities will be offered for PHP30 billion while the… Read More
Local shares close firmer, peso weakens
July 23, 2019, 7:35 pm
MANILA – Tamed expectations of a 50-basis point cut in the Federal Reserve’s key rates next week weakened the Philippine peso Tuesday but the Philippine Stock Exchange index (PSEi) managed to stay afloat. The PSEi gained 0.06 percent, or 4.63 points, to 8,251.46 points, which BPI Research… Read More
Studies ongoing for proposed gov't employees' pay hike: DBM
July 23, 2019, 7:33 pm
MANILA – Budget and Management Officer-in-Charge Janet Abuel said studies are ongoing for the proposed increase in the salaries of government workers, with the first of three tranches likely to start in 2020. This was contained in a reply letter to National Task Force to End Local Communists… Read More
Landbank can fund farmers' needs and still have PDS majority
July 23, 2019, 6:24 pm
MANILA -- State-owned Land Bank of the Philippines (Landbank) has the financial capacity to extend funding to farmers, as President Rodrigo R. Duterte has directed, without sacrificing its plan to have majority stake in Philippine Dealing System Holdings Corp. (PDSHC). “Landbank has sufficient… Read More
SEC to handle accreditation of external auditors
July 23, 2019, 3:56 pm
MANILA – The Securities and Exchange Commission (SEC) announced in a statement on Tuesday that it will soon handle the accreditation of external auditors across the financial sector to promote the ease of doing business in the country. In a notice dated July 19, the Commission released for… Read More
Biz leaders laud PRRD's thrust to cut red tape, corruption
July 23, 2019, 3:27 pm
MANILA — President Rodrigo Duterte's policy of cracking the whip on slow-moving bureaucrats seems to have hit a sweet spot with the business community’s movers and shakers. Leaders of three of the country's most influential business groups, the Federation of Philippine Industries (FPI), the… Read More
PRRD orders gov’t agencies to simplify transactions
July 22, 2019, 11:09 pm
MANILA -- President Rodrigo Duterte on Monday ordered five government agencies to simplify their transactions and use technology to accelerate service delivery. The President issued the directive to Land Transportation Office (LTO), Social Security System (SSS), Bureau of Internal Revenue (BIR),… Read More
Economist still eyes above 6% output for PH in 2019
July 22, 2019, 11:08 pm
MANILA – An economist at ING Bank remains optimistic about an above 6 percent growth for the Philippine economy this year due to interest rate cuts and the government’s spending plan. In a report Monday, ING Bank Manila senior economist Nicholas Mapa expects better domestic performance in the… Read More
Peso stays put, local stocks slip
July 22, 2019, 9:28 pm
MANILA -- The Philippine peso ended Monday little changed amid the strengthening of the US Dollar but the Philippine Stock Exchange index (PSEi) declined due to lingering uncertainties overseas. The local currency ended the day at 51.076 from 51.04 close Friday last week, which BPI Research… Read More
T-bill rates decline across the board
July 22, 2019, 8:14 pm
MANILA – Rates of Philippine treasury bills (T-bills) went down across the board Monday, which National Treasurer Rosalia de Leon attributed to expectations for lower rates in the near term. This followed hints of imminent rate cuts supposedly coming from officials of both the Federal Reserve… Read More
Infra, tax reform programs to continue: Dominguez
July 22, 2019, 7:29 pm
MANILA – Key cabinet officials said the Duterte administration will continue to pursue infrastructure and tax reforms in a bid to ensure the domestic economy's sustained growth and alleviate poverty. This was stressed by Finance Secretary Carlos Dominguez III on Monday, in time for President… Read More
Pru Life UK to open asset management company in PH
July 22, 2019, 5:41 pm
MANILA – Pru Life UK is set to open in the last quarter this year its own asset management company to offer more diverse investments to Filipinos, citing that equities and bond markets in the Philippines remain shallow. In a briefing Monday, Pru Life UK President and Chief Executive Officer… Read More
Oil firms announce modest price rollback
July 22, 2019, 4:33 pm
MANILA -- Local oil companies announced a modest rollback in pump prices, hours before President Rodrigo Duterte delivered his fourth State of the Nation Address (SONA), adding an extra helping of positivity to the occasion. This bit of good news was made all the more significant because it seems… Read More
DOF, DILG issue joint circular on setting reasonable LGU fees
July 22, 2019, 1:50 pm
MANILA – The Department of Finance (DOF) announced in a statement on Monday that it has jointly issued with the Department of the Interior and Local Government (DILG) a circular providing the guidelines in setting reasonable rates for regulatory fees and other service charges imposed by local… Read More
BSP assures in-depth study on proposed P20 coin
July 20, 2019, 1:38 pm
MANILA – The Bangko Sentral ng Pilipinas (BSP) has assured the public that an extensive and in-depth deliberation will be done regarding the proposed production of PHP20 coins. In a statement, the BSP said “a total systems study on the currency cycle” in the central bank was conducted… Read More
NegOcc MSMEs upbeat on PH Innovation Act
July 20, 2019, 11:50 am
BACOLOD CITY -- The signing of the Philippine Innovation Act has made micro, small and medium enterprises (MSMEs) in Negros Occidental optimistic about the growth and development of local entrepreneurs. Mary Ann Colmenares, chairman of the Negros Occidental Provincial MSME Development Council,… Read More
Fed rate cut expectations lifts PSEi, but peso ends week lower
July 19, 2019, 9:35 pm
MANILA -- Investors' expectation of as much as a 50-basis point cut in the Federal Reserve’s key rates late this month further lifted the Philippine Stock Exchange index (PSEi) on Friday but the peso retreated to the 51-level against the US dollar. The main equities index rose 0.15 percent, or… Read More
Dominguez cites CTRP successes
July 19, 2019, 9:28 pm
MANILA -- Finance officials reiterated their commitment to push for the approval of the proposed Comprehensive Tax Reform Program (CTRP) to ensure funding for the Duterte government’s “Build, Build, Build” program. The first package, now called Tax Reform for Acceleration and Inclusion… Read More
SoKor wants part in 'Build, Build, Build' program
July 19, 2019, 7:51 pm
SEOUL, South Korea -- South Korea has reiterated its interest in actively participating in the Duterte Administration's “Build, Build, Build” program to help an old ally in its development while boosting its own infrastructure sector. This was disclosed by Lee Hyuk, secretary-general of the… Read More
