Business
DICT inks pact with US blockchain firm for EODB
June 20, 2019, 11:44 am
MANILA -- The Department of Information and Communications Technology (DICT) has partnered with United States-based firm Monsoon to use blockchain technology in the ease of doing business and strengthening cybersecurity efforts in the country. DICT Acting Secretary Eliseo Rio Jr. signed on… Read More
DMCI Homes invests P7-B in QC condo projects
June 20, 2019, 8:16 am
MANILA -- Developer DMCI Homes is allocating an estimated PHP7 billion to build two more condominium projects in Quezon City, following the sales success of its previous projects in the area. DMCI Homes President Alfredo Austria said the company is eyeing to build two single-tower developments in… Read More
DTI eyes 'entrepreneurial revolution' through village services
June 19, 2019, 8:57 pm
ILOILO CITY – Eighty-seven barangays (villages) from 17 fourth to fifth class municipalities of Iloilo province were chosen for the “Negosyo Serbisyo sa Barangay” program of the Department of Trade and Industry (DTI) this year. Ermelinda P. Pollentes, DTI assistant regional director and… Read More
Cebu Pacific to upgrade fleet with Airbus A320, A330 'neo'
June 19, 2019, 8:50 pm
MANILA -- Local carrier Cebu Pacific (CEB) announced the purchase of new generation aircraft, to expand and upgrade its existing fleet, replacing old aircraft with more cost-effective and longer-range variants. At the 2019 Paris Air Show currently being held in Le Bourget, France, CEB announced it… Read More
GrabFood to impose penalties vs. order cancellations
June 19, 2019, 8:36 pm
MANILA -- Grab Philippines warned on Tuesday that it will suspend the accounts of its customers who cancel their orders through its food delivery service GrabFood. This as Grab is set to tighten its policies to prevent incidents of unclaimed orders due to customer no-shows or those customers who… Read More
PCC OKs East West purchase of PBCOM auto loan portfolio
June 19, 2019, 8:17 pm
MANILA -- The Philippine Competition Commission (PCC) approved the acquisition by East West Banking Corporation (East West) of the auto loan portfolio of Philippine Bank of Communications (PBCom). The transaction involves the purchase by East West of a portion of PBCom’s loan receivables which… Read More
Local markets up on news of possible Trump, Jinping meeting
June 19, 2019, 8:15 pm
MANILA – Both the Philippine Stock Exchange index (PSEi) and the peso ended higher Wednesday following news of a possible face-to-face meeting between US President Donald Trump and Chinese President Xi Jinping at the G20 Summit, which may go a long way towards resolving simmering trade issues… Read More
TDF rates post mixed output
June 19, 2019, 7:14 pm
MANILA -- Mixed results once again were registered by the Bangko Sentral ng Pilipinas’ (BSP) term deposit facility (TDF) Wednesday despite the oversubscription for both tenors. Data released by the BSP showed that rate of the seven-day facility declined to 4.6278 percent from 4.6661 percent… Read More
Economist eyes another 25 bps cut in BSP rates Thursday
June 19, 2019, 6:30 pm
MANILA -- An economist of Standard Chartered Bank (Standard Chartered) forecasts an additional 25 basis point reduction in the Bangko Sentral ng Pilipinas (BSP) on Thursday after the same cut was done last May. In a report, Standard Chartered economist for Asia Chidu Naranayan said he expects… Read More
Application for mobile number portability to start in January
June 19, 2019, 5:36 pm
MANILA -- Subscribers may begin applying in January next year to keep their mobile phone numbers even after they have switched network providers. The Department of Information and Communications Technology (DICT) said the telcos were allowed to comply within six months of the effectivity of the… Read More
ASEAN+3 research office eyes 6.3% GDP growth this year
June 19, 2019, 4:52 pm
MANILA -- An economist of ASEAN+3 Macroeconomic Research Office (AMRO) said the Philippine economy is expected to post a 6.3 percent growth in 2019, despite the slide in the first quarter. This is slightly lower than the institution’s 6.4 percent earlier projection, which AMRO chief economist… Read More
PH, Japan sign $202-M loan accord for Mindanao road project
June 19, 2019, 1:27 pm
NEW CLARK CITY -- Philippine and Japanese officials signed here Tuesday (June 18) an agreement providing the Philippines with USD202.04-million loan from Japan to finance the construction and improvement of roads in Mindanao’s conflict-affected areas, including the war-torn city of Marawi.… Read More
Antique officials told to prioritize PAL Express flights
June 19, 2019, 12:30 pm
SAN JOSE DE BUENAVISTA, Antique -- Antique capitol officials and employees who have official trips to Metro Manila are told to avail of the Philippine Airlines (PAL) Express flights as their way of supporting its presence in the province. Antique Governor Rhodora J. Cadiao , in a media interview… Read More
Subscribers may keep mobile phone numbers starting July 2
June 18, 2019, 8:42 pm
MANILA -- Mobile phone subscribers may now keep their numbers even after they changed their network providers starting July 2, according to the National Telecommunications Commission (NTC). This was announced by the NTC after it released a memorandum circular (MC) which sets the implementing rules… Read More
UHC law a big leap towards reforming health care system: NEDA
June 18, 2019, 8:41 pm
MANILA -- The country’s chief economist is pushing more reforms to ensure the smooth implementation of Universal Health Care (UHC) law, considered a big leap towards improving the country’s health care system. In an explainer, Socioeconomic Planning Secretary Ernesto Pernia noted that while… Read More
Peso rises to 51-level vs. US dollar, local shares also up
June 18, 2019, 8:08 pm
MANILA -- The Philippine peso improved against the US dollar Tuesday rising to the 51-level and the Philippine Stock Exchange index (PSEi) gained at the latter part of the day due to bargain hunting. The local currency ended the day at 51.99 from the previous day’s 52.145, which a trader partly… Read More
Don't link RRR cuts to TDF bids: BSP chief
June 18, 2019, 7:38 pm
MANILA -- Increase in domestic liquidity as a result of the cut in banks’ reserve requirement ratio (RRR) should not be the gauge for tenders in the Bangko Sentral ng Pilipinas’ (BSP) term facility. This was stressed by BSP Governor Benjamin Diokno Tuesday when asked for his reaction to the… Read More
AirAsia PH has no plans yet to offer long-haul flights
June 18, 2019, 6:38 pm
MANILA -- Despite offering new routes this year as well as expanding services in Chinese destinations, AirAsia Philippines has no plans yet to offer long-haul flights, its chief executive said on Tuesday. "We don't have long-haul flights in AirAsia Philippines, but we offer 'fly through' within… Read More
Large US dollar reserves to keep peso strong: Diokno
June 18, 2019, 6:30 pm
MANILA -- Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno on Tuesday said he expects the peso to remain strong because of the solid growth of investments and continuous dollar inflows. On Tuesday, it ended the trade at 51.99 against the greenback from the previous session’s 52.145.… Read More
MWSS reduces concessionaires' allocation starting June 19
June 18, 2019, 6:21 pm
MANILA -- As the water level in Angat Dam further dipped to 161.78 meters on Tuesday, the Metropolitan Waterworks and Sewerage System (MWSS) is set to reduce its allocation to water concessionaires from 46 cms. to 40 cms from June 19-21. In a joint statement by the National Water Resources Board… Read More
