Business
Allianz PNB eyes at least 10% premium growth
July 6, 2019, 8:54 am
MANILA -- Cut in banks’ reserve requirement ratio (RRR) is seen to help boost Allianz PNB Life Insurance, Inc. premiums by more than 10 percent this year. In a briefing Friday, Allianz PNB Life Insurance president and chief executive officer Alexander Grenz said the company has “a strong share… Read More
Philstocks Financial sees PSEi ending 2019 at 8,500-level
July 5, 2019, 9:32 pm
MANILA -- Online stockbroker Philstocks Financial Inc. projects the Philippine Stock Exchange index (PSEi) to rise as high as 8,500 level by the end of the year, citing lower inflation and stronger peso as catalysts that could provide support for local equities. Philstocks Financial Research Head… Read More
PSEi higher on rate cut hopes, Peso ends sideways
July 5, 2019, 9:32 pm
MANILA -- The inflation rate slowdown in June boosted the Philippine Stock Exchange index (PSEi), fueling expectations of another cut in central bank's key rates, while the peso finished weaker ahead of the release of the United States’ June 2019 non-farm payrolls (US NFP) report. PSEi rose to… Read More
Economic managers, solons credited for 2.7% inflation slide
July 5, 2019, 8:36 pm
MANILA-- Due credit goes to the country's economic managers as well as the lawmakers of the last Congress, Malacañang said Friday after the inflation eases to a 22-month low of 2.7 percent in June. "Soaring inflation has been slain. It is now a thing of the past. The Palace is pleased with… Read More
Better output eyed after inflation slowdown
July 5, 2019, 8:21 pm
MANILA -- A ranking Department of Finance (DOF) official has high hopes for a recovery in the Philippine economy after inflation resumed its downward trajectory last month. In an economic bulletin, Finance Undersecretary Gil Beltran noted the decline in the June inflation to 2.7 percent from… Read More
PH stays alert for potential risks to inflation
July 5, 2019, 8:20 pm
MANILA -- Economic managers remain watchful of potential risks that can cause price pressures in the coming months, such as weather-related shocks, even as the inflation rate eased to its slowest pace in 22 months. “We note that the prevalence of adverse weather conditions in the country remains… Read More
BSP rate cut seen in August after inflation slowdown
July 5, 2019, 6:34 pm
MANILA -- Analysts expect a cut in the Bangko Sentral ng Pilipinas’ (BSP) key policy rates next month after inflation returned to its downward trajectory last June. The Philippine Statistics Authority (PSA) on Friday reported a deceleration in the country's inflation rate last June, at 2.7… Read More
Piñol orders thorough probe on German exporter ProFood
July 5, 2019, 6:09 pm
MANILA -- Agriculture Secretary Emmanuel Piñol on Friday ordered that a thorough investigation be conducted on German exporter ProFood to ensure that its preparation methods conform with local safety standards. "The entry of the dreaded ASF (African Swine Fever) into the country could lead to the… Read More
DTI urges Antique business sector to register online
July 5, 2019, 5:59 pm
SAN JOSE DE BUENAVISTA, Antique -- The Department of Trade and Industry (DTI) in Antique is encouraging businessmen to avail of its online business registration. DTI Antique Business Processor Bianka Lou Metchaler, in an interview Friday, said the online business registration already went fully… Read More
Inflation slowdown puts gov't targets within reach
July 5, 2019, 5:01 pm
MANILA -- Philippine monetary officials have renewed confidence in hitting inflation targets following the fall of June's inflation rate to 2.7 percent from 3.2 percent in the previous month. The Philippine Statistics Authority (PSA) attributed the big drop to the second consecutive slide of rice… Read More
Inflation drops to 22-month low of 2.7% in June
July 5, 2019, 4:19 pm
MANILA -- The country’s inflation rate eased to a 22-month low, falling to 2.7 percent in June, amid government measures to tame food prices. The Philippine Statistics Authority (PSA) on Friday reported that last month’s headline inflation was higher compared to 3.2 percent in May 2019, and… Read More
NEDA studies ways to boost farm output with rice tariffication
July 4, 2019, 8:16 pm
MANILA -- With rice tariffication in place, bulking up investments in research and development in agriculture and investing in irrigation, among others, can markedly increase rice yields and farm productivity in the long run, the National Economic and Development Authority (NEDA) said in a… Read More
Cabinet men not meddling in speakership race: Dominguez
July 4, 2019, 8:13 pm
MANILA – Finance Secretary Carlos Dominguez denied on Thursday allegations that some members of Cabinet are actively lobbying for Taguig City Rep. Alan Peter Cayetano as the next House Speaker to ensure that certain insertions in the proposed 2020 national budget are kept. Dominguez was reacting… Read More
P245-M lost yearly from Malabon printer's fake tax stamps
July 4, 2019, 7:53 pm
MANILA -- The government loses an estimated PHP245 million a year from fake tax stamps being churned out by a Malabon City printer. Finance Secretary Carlos Dominguez said the amount is based on the price of a tax stamp at PHP35 apiece and on an eight-hour per day and five day per week operations… Read More
Fed hike expectations boost peso, local stocks slide
July 4, 2019, 7:47 pm
MANILA – Anticipation of the US Federal Reserve cutting its rates allowed the Philippine peso to end Thursday sideways against the greenback, but the main equities gauge succumbed anew ahead of the release of the June 2019 inflation report on Friday. The local unit closed the day at 51.13,… Read More
GSIS Board revokes resolutions to sell Port Area property
July 4, 2019, 6:32 pm
MANILA -- The Government Service Insurance System (GSIS) has officially backed out on its plan to sell a 67-hectare property at the Port Area in Manila pending consultations with all stakeholders. This was disclosed by GSIS Chairman Rolando Macasaet in a report to Finance Secretary Carlos… Read More
DTI seels bigger PH share of $2.6-T global halal market
July 4, 2019, 3:52 pm
CLARK, PAMPANGA -- Department of Trade and Industry (DTI) Secretary Ramon Lopez reiterated in a statement on Thursday the need to increase Philippine halal products in domestic and export markets to maximize the opportunities of a growing global halal market amounting to USD2.6 trillion. During… Read More
P5.9-B taxes collected from liberalized rice imports
July 4, 2019, 2:54 pm
MANILA -- Preliminary data show that the government has so far collected PHP5.9 billion in tariffs from some 1.43 million metric tons (MT) of rice stocks imported by private traders, following the enactment of a law in March that liberalized the importation of the grain, the Department of Finance… Read More
Diokno bares new security features of NGC banknotes
July 3, 2019, 9:55 pm
MANILA -- The Philippine banknotes to be released in the first quarter of 2020 will have additional security features and will be helpful to the elderly and visually-impaired, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said on Wednesday. “The upgraded security thread and… Read More
DTI boosts halal industry in Central Luzon
July 3, 2019, 8:03 pm
CLARK FREEPORT, Pampanga —The promotion of halal industry in Central Luzon is set in motion as various stakeholders gathered here for the 2nd Philippine National Halal Conference. The three-day conference, which opened Tuesday at the Quest Hotel, is part of an effort to prepare Central Luzon as… Read More
