Business
Water board maintains 36-cms allocation for MWSS
July 3, 2019, 7:44 pm
MANILA -- The National Water Resources Board (NWRB) on Wednesday maintained the 36 cubic meters per second (cms) daily water allocation for the Metropolitan Waterworks and Sewerage System (MWSS) despite the improving situation at the Angat Dam reservoir. As of 6 a.m. Wednesday, Angat Dam's water… Read More
Local markets end sideways in midweek trading
July 3, 2019, 7:41 pm
MANILA – A wait-and-see stance ahead of the release of Philippines’ June 2019 inflation report resulted in the sideways midweek close of the Philippine peso while global growth concerns weighed down the Philippine Stock Exchange index (PSEi) Wednesday. The peso closed the day at 51.16 from the… Read More
TDF rates down amid oversubscription
July 3, 2019, 7:27 pm
MANILA -- Banks submitted more than twice the volume offer for the Bangko Sentral ng Pilipinas’ (BSP) term facilities Wednesday, even as rates declined. Data released by the BSP showed that the rate of the seven-day facility slipped to 4.5537 percent from 4.6240 percent during the auction last… Read More
89 of 136 towns in Region 8 have no banks: BSP
July 3, 2019, 6:31 pm
TACLOBAN CITY -- At least 65 percent of towns in Eastern Visayas (Region 8) have no banks, making the region one of the most unbanked areas in the country, according to the Bangko Sentral ng Pilipinas (BSP). As of June 29, some 89 out of 136 towns in six provinces have no banks, raising concern… Read More
Lower than 2% inflation seen in Q3
July 3, 2019, 6:26 pm
MANILA – Inflation is now being forecast at below two percent in the third quarter of 2019 due to base effects, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said. “Third quarter will be much lower than the second quarter,” he told journalists Wednesday. After peaking at 6.7… Read More
Unrestricted sugar importation worrying millers
July 3, 2019, 5:48 pm
MANILA -- The country’s sugar millers on Wednesday expressed apprehension over the planned liberalization of sugar importation to lower the price of the commodity. “The sugar milling sector has been apprehensive for the past months because of the issue on import liberalization,” Philippine… Read More
Diokno eyes 6% level output for PH economy in Q2
July 3, 2019, 4:49 pm
MANILA -- Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno is optimistic of at least a six percent growth in the domestic economy in the second quarter of 2019, on the back of stronger public spending and more robust consumption. In an interview after the launch of the New Generation… Read More
PCC approves New Clark City power distribution deal
July 3, 2019, 3:59 pm
MANILA -- The Philippine Competition Commission (PCC) has approved the proposed joint venture between the Bases Conversion and Development Authority (BCDA) and the consortium of Manila Electric Company (Meralco) and its Japanese partners to develop a power distribution system in New Clark City.… Read More
Globe partners with Aboitiz to build common towers
July 3, 2019, 3:55 pm
MANILA -- Globe Telecom has partnered with the Aboitiz Group and Frontier Tower Associates Philippines (FTAP) for the deployment of cell sites in Cebu, Davao, and Subic to support the common tower policy being implemented by the Department of Information and Communications Technology (DICT). In a… Read More
Full implementation of Ease of Doing Biz law to boost FDI: ARTA
July 3, 2019, 11:44 am
MANILA -- The full implementation of Republic Act 11032 or the Ease of Doing Business and Efficient Government Service Delivery is expected to boost foreign investments in the country, the Anti-Red Tape Authority (ARTA) said Wednesday. “If the Ease of Doing Business law is fully implemented, its… Read More
Factory gate prices rise in May: PSA
July 2, 2019, 9:10 pm
MANILA -- Factory gate prices surged in May, mainly boosted by the remarkable increase in costs of furniture and fixtures, the Philippine Statistics Authority (PSA) reported on Tuesday. The PSA said the Producer Price Index (PPI) for manufacturing rose 2.7 percent in May 2019, faster than the… Read More
Local stocks rise, peso weakens
July 2, 2019, 7:59 pm
MANILA – The Philippine Stock Exchange index (PSEi) rose anew ahead of the release of June's inflation figure while risk aversion due to global growth concerns weighed the peso down. PSEi improved by 0.62 percent, or 49.89 points, to 8,093.60 points, which BPI Research attributed to… Read More
BTr fully awards 3-year T-bond
July 2, 2019, 7:51 pm
MANILA – The Bureau of the Treasury’s (BTr) auction committee made a full award for the freshly-issued three-year Treasury bond (T-bond) Tuesday following strong demand. Demand for the debt paper reached PHP65.911 billion, more than thrice the PHP20 billion offering. The T-bond fetched a… Read More
Megawide eyes new contracts worth P20-B in 2019
July 2, 2019, 7:50 pm
MANILA -- Engineering and infrastructure developer Megawide Construction Corporation targets to secure PHP20 billion worth of new contracts this year, as it expects a rebound of profitability on the back of an expected pick up of its construction business. “(These projects are) combination of… Read More
GSIS chief Aranas quits
July 2, 2019, 6:45 pm
MANILA -- Government Service Insurance System (GSIS) President and General Manager Jesus Clint Aranas has resigned, a ranking official of the state workers' pension fund confirmed on Tuesday. “He resigned for personal reasons,” GSIS Vice President Marge Jorillo said in a reply to a text… Read More
Cloudy skies give Manila Water customers a ray of hope
July 2, 2019, 6:34 pm
MANILA -- The extended downpour which soaked Metro Manila and surrounding areas these past couple of days has managed to raise the level of Angat Dam ever so slightly, but Manila Water management made it clear that the water supply shortage is far from solved. The water level at Angat Dam has… Read More
DBM may submit proposed P4.1-T 2020 budget in August
July 2, 2019, 6:26 pm
MANILA -- Submission of the proposed PHP4.1-trillion 2020 national budget will be delayed until the first week of August, contrary to the practice in the last three years of submitting it a few hours after President Rodrigo R. Duterte’s State of the Nation Address (SONA). This was disclosed by… Read More
Capiz locals produce world-class food products
July 2, 2019, 5:49 pm
ILOILO CITY -- Being the seafood capital of the Philippines, Capiz province can take pride not only of its fresh catch but also for the world-class food produced from its seas. Through a food processing social enterprise, local fishermen and farmers in Capiz provide quality raw materials to… Read More
Local markets rise on renewed US-China trade talks
July 1, 2019, 9:22 pm
MANILA -- Optimism generated by renewed trade discussions between US and China lifted both the Philippine Stock Exchange index (PSEi) and the peso on Monday. The main equities gauge rose to 8,043.71 points, up 0.55 percent or 44.00 points. BPI Research said the meeting of US President Donald Trump… Read More
Upgrade to 'A' rating possible within 18 months
July 1, 2019, 9:06 pm
MANILA -- A ranking Bangko Sentral ng Pilipinas (BSP) official on Monday said that an upgrade of the Philippines' credit rating to "A" level within the next 18 months is a real possibility if economic managers do their part. In a briefing after the 2019 pre-SONA economic and infrastructure forum… Read More
