Business
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
Peso rises anew, local shares end rally
June 25, 2019, 8:46 pm
MANILA -- The Philippine peso further gained traction against the US dollar Tuesday but the main equities index ended its six-day rally due to mounting fears of a US strike on Iran. The local currency finished the trade at 51.365 from Monday’s 51.39, which BPI Research attributed to weakness of… Read More
PH T-bill rates go down
June 25, 2019, 8:39 pm
MANILA -- The average rates of Philippine Treasury bill (T-bill) declined across-the board Tuesday on expectations of further cuts in central bank's key rates and anticipation of a fruitful Trump-Jinping meeting on Friday. Rate of the 91-day paper declined to 4.385 percent from 4.453 percent… Read More
Investments under P50K can offer good return
June 25, 2019, 8:21 pm
MANILA -- One can start investing below PHP50,000 with guaranteed good rate of return without having to fear being duped into pouring in their hard-earned money to fraudulent schemes. After the Kapa-Community Ministry International Inc. (KAPA) incident, the Securities and Exchange Commission (SEC)… Read More
12-17-hour water service interruptions loom as Angat level drops
June 25, 2019, 8:00 pm
MANILA -- Manila Water advised customers in the National Capital Region's (NCR) East Zone to brace for longer water interruptions due to the declining water level of Angat Dam. “We are now implementing water interruptions lasting for 12 to 17 hours from the previous 8 to 12 hours,” Manila… Read More
DTI’s Negosyo Serbisyo sa Barangay launched in Aurora town
June 25, 2019, 7:28 pm
DINALUNGAN, Aurora -- The Department of Trade and Industry (DTI) provincial office launched on Tuesday its Negosyo Serbisyo sa Barangay (NSB) program in an effort to boost and encourage more barangay-based business ventures and other economic activities. The initial launching was held in Barangay… Read More
Lopez highlights importance of PH-Korea free trade deal
June 25, 2019, 7:04 pm
MANILA -- Trade and Industry Secretary Ramon Lopez encouraged Korean businessmen to increase investments in the Philippines and take advantage of robust domestic growth, especially now that a free trade deal is in the offing. In his speech during the launch of the Korea-Asean FTA Support Center in… Read More
Dominguez seeks speedy disposal of idle gov't assets
June 25, 2019, 2:29 pm
MANILA -- Finance Secretary Carlos Dominguez III has directed the Privatization Management Office (PMO) and the Philippine Deposit Insurance Corp. (PDIC) to discuss with state-run banks and the Commission on Audit (COA) ways to relax stringent auditing rules that have long hobbled government… Read More
RCBC consumer, SME loans to rise to 50% of loan portfolio
June 24, 2019, 9:12 pm
MANILA -- Officials of the Rizal Commercial Banking Corporation (RCBC) seeks to increase the share of consumer and small and medium enterprise (SME) loans to 50 percent of the bank’s total loan portfolio within the next three years. To date, SME and consumer loans of RCBC account for only about… Read More
BFAR to distribute 5,000 transponders by yearend
June 24, 2019, 9:02 pm
MANILA -- The Department of Agriculture-Bureau of Fisheries and Aquatic Resources (DA-BFAR) will be distributing an initial 5,000 "transponders" or vessel monitoring measures (VMM) to commercial fishing vessels before the year ends. DA Undersecretary and BFAR national director Eduardo Gongona… Read More
Local markets rise on Monday session
June 24, 2019, 8:40 pm
MANILA -- The Philippine peso rose further on Monday while the Philippine Stock Exchange index (PSEi) also managed to move up, as all eyes are on the G20 Summit in Japan on Monday. The local currency ended the week’s first trading day at 51.39 from 51.57 Friday last week. It opened the day… Read More
SEC okays ACE Medical Center-Butuan's P1-B maiden offering
June 24, 2019, 7:24 pm
MANILA -- The Securities and Exchange Commission (SEC) has cleared the initial public offering (IPO) of another member of the Allied Care Experts (ACE) Group for up to PHP1 billion. In its meeting on June 20, the Commission En Banc approved the registration statement of ACE Medical Center-Butuan,… Read More
Cebu airport posts 13% growth in passenger volume in 2018
June 24, 2019, 6:49 pm
CEBU CITY -- The volume of passengers in the Mactan-Cebu International Airport (MCIA) increased by 13 percent in 2018, said an airport official on Monday here. “The MCIA has grown by leaps and bounds in the past few years. From having under 7 million passengers per annum in 2014, we had over… Read More
Pump prices rise anew
June 24, 2019, 6:43 pm
MANILA -- The world crude market's volatility will be felt by Filipino consumers once more as local oil companies implement another hike in pump prices on Tuesday. In separate advisories, Pilipinas Shell, Petron Corporation and PTT Philippines announced moderate price increases in their liquid… Read More
NAIA safe despite red lightning alerts
June 24, 2019, 5:29 pm
MANILA -- The Manila International Airport Authority (MIAA) on Monday assured the public that the Ninoy Aquino International Airport (NAIA) remains safe against lightning. MIAA, which manages the Ninoy Aquino International Airport (NAIA), has declared red lightning alerts several times this… Read More
SIDA fund slashed to P67-M in 2020
June 24, 2019, 4:11 pm
MANILA -- The Sugarcane Industry Development Act (SIDA) fund will be further slashed next year -- from the original PHP2 billion annual budget down to only PHP67 million. For this year, SIDA's allocation was at PHP500 million. The Department of Budget and Management (DBM) earlier said the budget… Read More
BSP strengthens financial literacy program with LGUs
June 24, 2019, 4:10 pm
MANILA -- The sustained robust growth of the domestic economy has allowed more people to increase their income and improve their lives, monetary officials said. However, the rise in disposable income has also given con artists more opportunities to take advantage of other people’s money. Thus,… Read More
GenSan pushes regulation of forex trading activities
June 24, 2019, 2:33 pm
GENERAL SANTOS CITY -- The city government is pushing for the proper regulation of foreign currency exchange or forex trading and other related investment systems as it moves to protect investors from fraudulent practices. Geraldine Zamora, head of the city permits and licensing division, said… Read More
Diokno to co-chair FSB regional consultative group for Asia
June 24, 2019, 1:59 pm
MANILA -- Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno has been named as the incoming co-chair of the Regional Consultative Group for Asia of the Financial Stability Board (FSB-RCGA), the BSP announced in a statement on Monday. The FSB is an international institution that… Read More
DOTr eyes completion of Bicol Int’l Airport by June 2020
June 23, 2019, 3:16 pm
DARAGA, Albay -- Department of Transportation (DOTr) Secretary Arthur Tugade has assured Bicolanos the Bicol International Airport (BIA), now under construction in Barangay Alobo here, would be completed in June 2020, and would be operational shortly after then.Albay 2nd District Rep. Joey Sarte… Read More
