Business
New BSP deputy governor sworn in
July 12, 2019, 2:24 pm
MANILA -- Francisco G. Dakila Jr. received his oath of office as Deputy Governor for Monetary and Economics Sector (MES) in ceremonies administered by Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno on Thursday. He succeeds former Deputy Governor Diwa Guinigundo, who recently… Read More
DTI opens 15th Negosyo Center in Bulacan
July 11, 2019, 9:40 pm
SANTA MARIA, Bulacan—The Department of Trade and Industry (DTI) opened the 15th Negosyo Center in this province early this week to bring government services closer to the people. The business center is located at the Business Permit and Licensing Office (BPLO) on the first floor of the… Read More
BIR to POGOs: Settle mounting tax deficiencies
July 11, 2019, 8:57 pm
MANILA – The Bureau of Internal Revenue (BIR) has issued new batches of notices to Philippine offshore gaming operators (POGO) billing them for unpaid taxes amounting to about PHP3 billion. This was disclosed by BIR Commissioner Caesar Dulay after the signing of the Joint Memorandum Circular… Read More
Peso, PSEi up on Powell's testimony
July 11, 2019, 8:48 pm
MANILA -- Federal Reserve Chairman Jerome Powell’s hint that the Fed’s key rates may be due for a cut, possibly this month, boosted the Philippine peso and the Philippine Stock Exchange index (PSEi) Thursday. The local currency ended the day at 51.19 from 51.46 a day ago, which BPI Research… Read More
PH, SoKor to sign FTA by Nov.
July 11, 2019, 8:47 pm
MANILA -- Trade Secretary Ramon Lopez expects to open up the South Korean market to more Philippine products other than traditional agricultural goods, with the free trade deal which is targeted to be signed this November. During the Philippine-Korea Business Forum here on Thursday, Lopez said the… Read More
Biofuels industry bats for B5 in diesel by 2021
July 11, 2019, 8:32 pm
MANILA -- The Philippine Biodiesel Association (TPBA) has proposed to increase the percentage of the biodiesel component blended in locally available diesel to 5 percent by 2021 from the current level of 2 percent. United Coconut Association of the Philippines (UCAP) chairman and TPBA spokesman… Read More
Economy continues to stand on stable footing: Diokno
July 11, 2019, 8:31 pm
MANILA -- The Philippines' macroeconomic fundamentals remain strong and still provide a solid backing against foreseeable challenges ahead. This was stressed by Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno during an online seminar or webinar hosted by investment bank UBS at the BSP… Read More
PH gov't, ADB sign loan for Malolos-Clark railway project
July 11, 2019, 8:14 pm
MANILA – Philippine Finance Secretary Mr. Carlos Dominguez III and Asian Development Bank (ADB) Vice-President Mr. Ahmed M. Saeed on Thursday signed a USD1.3 billion loan, the first tranche of a total USD2.75 billion facility, for the Malolos–Clark Railway Project in a ceremony witnessed by… Read More
Labor, employer sectors unite vs. job mismatch
July 11, 2019, 7:22 pm
MANILA -- Amid the many new job openings being created by a vibrant economy, the labor and employer sector agree that there are still too many college graduates who end up being unemployed, underemployed or landing jobs that do not optimize the use of their skills. At the Employers Confederation… Read More
Maynilad appeals financial penalty imposed by MWSS
July 11, 2019, 5:57 pm
MANILA -- Water concessionaire Maynilad is appealing the financial penalty being imposed on it by the Metropolitan Waterworks and Sewerage System (MWSS). In an interview on the sidelines of the Water Forum 2019 on Wednesday in Quezon City, Maynilad president and CEO Ramoncito Fernandez said the… Read More
Organize strike team to stop importation of garbage: DOF chief
July 11, 2019, 3:21 pm
MANILA – The Department of Finance (DOF) said on Thursday Secretary Carlos Dominguez III has directed Commissioner Rey Leonardo Guerrero of the Bureau of Customs (BOC) to look into the creation of a special strike team within the agency to guard against the entry of waste materials that other… Read More
Filoil pays over P2-B in taxes to BOC-Dumaguete
July 11, 2019, 3:07 pm
DUMAGUETE CITY – Filoil Energy Co., Inc. remains as the top source of revenue for the Bureau of Customs here having paid more than PHP2 billion despite the government’s imposition of Republic Act 10963, better known as the Tax Reform for Acceleration and Inclusion (TRAIN) law. Latest records… Read More
DTI rolls out ‘Kapatid Mentor Me’ program in Antique
July 10, 2019, 11:56 pm
SAN JOSE DE BUENAVISTA, Antique -- The Department of Trade and Industry (DTI) rolled out its "Kapatid Mentor Me" program for 46 micro, small and medium entrepreneurs (MSMEs) in this province on Wednesday. DTI Assistant Regional Director Ermelinda P. Pollentes, who led the kickoff, said the program… Read More
Ortigas & Company sets P12-B capex for 2019
July 10, 2019, 9:19 pm
MANILA -- Property developer Ortigas & Company has earmarked PHP12 billion for its capital expenditures (capex) this year to support continued expansion. “That will be all be funded again by internally generated funds, some borrowings,” Ortigas & Company President and Chief Executive Officer… Read More
NCR seen as world’s 3rd largest office market
July 10, 2019, 8:48 pm
MANILA -- Metro Manila can become the third-largest office market in the world with the online gaming industry forecasted to be the largest consumer of office spaces this year, overtaking the information technology-business process outsourcing (IT-BPO) industry, according to a global real services… Read More
Ratings upgrade to spur rise in FDIs: Diokno
July 10, 2019, 8:25 pm
MANILA -- Foreign Direct Investments (FDIs) into the Philippines will likely increase further in the coming months due in part to the recent upgrade of the country’s credit rating as well as the decline in inflation last June. This was noted by Bangko Sentral ng Pilipinas (BSP) Governor Benjamin… Read More
PSEi recovers, peso weakens in midweek trading
July 10, 2019, 8:05 pm
MANILA -- Enthusiasm returned to Philippine Stock Exchange after a two-day slide on Wednesday but the peso weakened ahead of the Congressional speech of Federal Reserve Chairman Jerome Powell later in the day. PSEi gained 0.45 percent, or 36.17 points, to 8,078.21 points, which BPI Research… Read More
Fuel marking program seen to curb oil smuggling
July 10, 2019, 7:45 pm
MANILA -- Finance Secretary Carlos Dominguez said authorities expect smuggling of oil products to increase following the implementation of the Tax Reform for Acceleration and Inclusion (TRAIN) Law in 2018. Under Republic Act 10963, otherwise known as TRAIN Law, excise tax on diesel and bunker fuel… Read More
Reduction in key rates may happen ahead of another RRR cut
July 10, 2019, 7:30 pm
MANILA -- Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno on Wednesday said a reduction in the central bank’s policy rates may happen ahead of another cut in banks’ reserve requirement ratio (RRR). In an interview after the awards ceremony and appreciation lunch for stakeholders at… Read More
Arab bizmen scouting for investment prospects in PH
July 10, 2019, 6:34 pm
MANILA -- A group of Arab investors are in the country scouting for business opportunities. Joseph Timothy Rivera, Philippine Economic Zone Authority (PEZA) Investment Promotions Partner, said they organized an eight-day visit here starting Tuesday to encourage nine Arab businessmen to put up… Read More
