Business
Pernia sees over 6% GDP growth in Q2
June 27, 2019, 8:01 pm
MANILA -- The government’s chief economist expects the country's gross domestic product (GDP) growing more than 6 percent in the second quarter of 2019, about a similar pace during the same period last year, bolstering growth of 6.5 percent for the year. Socioeconomic Planning Secretary Ernesto… Read More
Optimism on US-China trade discussions boost PSEi, Peso
June 27, 2019, 7:29 pm
MANILA -- The Philippine Stock Exchange index (PSEi) recovered after a two-day slide and positive investor sentiment improved the peso as well in Thursday trading. The main equities index ended the day at 8,057.64 points, up 0.55 percent or 44.07 points. All Shares posted the same growth of 0.55… Read More
Creative hubs to spur Filipino creative industries: NEDA
June 27, 2019, 5:53 pm
MANILA -- The National Economic and Development Authority (NEDA) sees the potential of establishing more “creative hubs” as a way to boost creative industries and to support the country’s economic growth. “We need more creative hubs where we can develop pools of creative talents and create… Read More
Producers Savings Bank merges with 7 rural banks
June 27, 2019, 5:22 pm
MANILA -- The merger of Pasig City-based Producers Savings Bank Corporation with seven rural banks (RBs) has been approved by the Securities and Exchange Commission (SEC). Bangko Sentral ng Pilipinas (BSP) Deputy Governor Chuchi Fonacier, in Circular Letter 2019-044 issued on June 21, 2019 said… Read More
Anchor Land to break ground on P35-B projects
June 27, 2019, 5:21 pm
MANILA -- Upscale property developer Anchor Land Holdings, Inc. (ALHI) targets the groundbreaking of six projects worth PHP35 billion this year, banking on the strong demand for properties amid the country's robust economic growth. “Inventory is being sold out very fast, much faster than what we… Read More
BSP cuts TDF volume announcement lead time
June 27, 2019, 2:24 pm
MANILA -- The Bangko Sentral ng Pilipinas (BSP) has shortened the lead time for announcements of term deposit facility (TDF) volume from seven days to only two days, effective July. In an advisory Wednesday, the central bank said this adjustment was made “in response to the feedback received… Read More
Online portal to fast-track business registration in the works
June 27, 2019, 11:36 am
MANILA -- An online system that would expedite the application process for business registration, in compliance with the Ease of Doing Business Act, is being developed, an official of the Department of Information and Communications Technology (DICT) said. “In terms of the business portal, its… Read More
Tower firms urged to build cell sites in rural areas
June 26, 2019, 8:49 pm
MANILA -- The Department of Information and Communications Technology (DICT) must encourage tower companies to build common towers in rural areas, according to an Internet rights advocacy group. Democracy.Net.PH co-founder Pierre Tito Galla said the rollout of the cell towers and supporting… Read More
Long-term strategic plan to develop the financial sector pushed
June 26, 2019, 8:17 pm
MANILA -- A consultant at the Philippine Institute for Development Studies (PIDS) is pushing for a comprehensive and detailed long-term strategic action plan to develop the country’s financial sector. “(This plan) would help to identify reforms to address the weaknesses, and hence actualize… Read More
FNI to invest $50-M in steel rebars production
June 26, 2019, 8:11 pm
MANILA -- Global Ferronickel Holdings, Inc. (FNI) announced that it is investing USD50 million in the production of steel rebars, as part of efforts to explore value-added opportunities. "We are seriously looking at it because of the heavy importation. Local manufacturers cannot cope with local… Read More
SRA reduces sugar export allocation to US
June 26, 2019, 8:05 pm
MANILA -- The Sugar Regulatory Administration (SRA) has reduced the United States' sugar allocation to ensure ample supply of the commodity for the domestic market, as production for the crop year 2018-2019 was projected at 2.071 million metric tons (MMT) from 2.083 MMT previously, due to the… Read More
NegOcc ARBs showcase products in agripreneurial expo
June 26, 2019, 7:44 pm
BACOLOD CITY -- Farmer beneficiaries in Negros Occidental are showcasing their agricultural products in the week-long Agrarian Agripreneurial Expo 2019 to mark the 31st year of the Comprehensive Agrarian Reform Program (CARP). The activity, held at Ayala Malls Capitol Central here until June 30,… Read More
DTI, TUP Visayas launch metal powder coating facility in NegOcc
June 26, 2019, 7:23 pm
TALISAY CITY, Negros Occidental -- The Department of Trade and Industry (DTI)-6 and the Technological University of the Philippines Visayas (TUPV) have forged a partnership for the establishment of a shared service facility (SSF) for metal powder coating, which is the first of its kind in Western… Read More
Local markets down on geopolitical concerns
June 26, 2019, 6:30 pm
MANILA -- Risk aversion capped the Philippine peso’s rise against the US dollar Wednesday and also triggered another slide in the Philippine Stock Exchange index (PSEi). The local currency finished the trade at 51.50 from the previous session’s 51.365. It opened the day at 51.46 and traded… Read More
BTr announces lower Q3 borrowing program
June 26, 2019, 6:28 pm
MANILA -- The Bureau of the Treasury (BTr) is scheduled to issue a total of PHP230 billion-worth of government securities in the third quarter of this year, PHP70 billion lower than the programmed issuance for this quarter. Data posted on the BTr website on Wednesday showed that a total of PHP90… Read More
Congress urged to pass law on frequency reallocation
June 26, 2019, 6:27 pm
MANILA -- An Internet rights advocacy group is urging the incoming 18th Congress to pass a law that will mandate the reallocation of frequency spectrums to new players in the local telco industry, once it starts its session next month. Democracy.Net.PH co-founder Pierre Tito Galla said spectrum… Read More
SEC urges public to scrutinize firms before investing
June 26, 2019, 5:25 pm
MANILA -- As it intensifies the crackdown on suspected investment scams, the Securities and Exchange Commission (SEC) has advised prospective investors to scrutinize first the legitimacy of a company before making their investment decisions. SEC Commissioner Kelvin Lee said these companies should… Read More
TDF rates, bid coverage ratios decline
June 26, 2019, 4:03 pm
MANILA -- Rates of the Bangko Sentral ng Pilipinas’ (BSP) Term Deposit Facilities (TDF) declined Wednesday, reminiscent of the auction of government-issued securities on Tuesday. Data released by the central bank showed that average rate of the seven-day facility slipped to 4.6240 percent from… Read More
PH seen to grow faster than other Asian powerhouses
June 26, 2019, 2:11 pm
MANILA -- World Bank estimates show the Philippine economy will grow at a more rapid pace than Asia’s other regional economic powerhouses, such as China and Malaysia, during the remaining half of the Duterte presidency, given the country’s strong macroeconomic fundamentals and sustained… Read More
1st phase of Nat'l Broadband Plan completed next year: DICT
June 26, 2019, 12:54 pm
MANILA -- The first phase of the fiber backbone for the National Broadband Plan (NBP) is set to be completed early next year, an official of the Department of Information and Communications Technology (DICT) said on Tuesday. DICT Undersecretary Denis Villorente said the first phase involves the… Read More
