Business
Skyjet exec backs plan to use Sangley Airport
June 15, 2019, 2:42 pm
CAVITE CITY, Cavite -- An executive of Manila's first boutique airline on Friday expressed support for the government plan to develop and use the Sangley Point airport for general aviation and domestic flights. In an interview with the Philippine News Agency (PNA), Skyjet President Dino Reyes Chua… Read More
DTI lifts suspension of steel firm
June 15, 2019, 2:36 pm
MANILA — The Department of Trade and Industry (DTI), has lifted the License Suspension order of steel smelting plant Wan Chiong Steel Corporation. This was indicated in a letter dated May 2, 2019, signed by the DTI’s Bureau of Product Standards (BPS) Director James Empeno “Results of the… Read More
Globe: Building more cell sites to lower energy consumption
June 15, 2019, 10:44 am
MANILA -- Globe Telecom has urged the government to implement policies to ease restrictions for building cell sites across the country and lower the energy consumption of telecommunication firms and consumers. “We understand that site density is a hard problem to solve and is not entirely within… Read More
Local markets weighed down by geopolitical tensions abroad
June 14, 2019, 9:15 pm
MANILA -- Geopolitical issues overseas heightened investors' risk aversion mood, resulting in a retreat by the Philippine Stock Exchange index (PSEi) and the weakening of the peso as trading for the week came to an end. PSEi ended its four-day rally after it fell 0.77 percent, or 61.56 points, to… Read More
Prospects for domestic growth 'bright' in 2019: Guinigundo
June 14, 2019, 9:05 pm
MANILA -- A ranking official of the Bangko Sentral ng Pilipinas (BSP) said domestic growth prospects remain bright, thus, he expects the economy to post a growth of between six and seven percent. In a briefing Friday, BSP Deputy Governor Diwa Guinigundo said developments in the domestic economy… Read More
BSP revises 2019 BOP projection to $3.7-B surplus
June 14, 2019, 8:22 pm
MANILA – Philippine monetary officials on Friday announced the revision of the 2019 balance of payment (BOP) projection from a USD3.5-billion deficit to a USD3.7-billion surplus. In a briefing Friday, Bangko Sentral ng Pilipinas (BSP) Department of Economic Research (DER) Director Dennis Lapid… Read More
Mislatel targets to start ops as 3rd telco by July
June 14, 2019, 7:52 pm
MANILA -- Mislatel Consortium is eyeing to start its operations as the third major telecommunications player in the country by July this year. This, as the consortium composed of Udenna Corporation, Chelsea Logistics and Infrastructure Holdings Corporation, and China Telecommunications Corporation… Read More
PhilMech finalizing guidelines in distributing farm equipment
June 14, 2019, 7:50 pm
MANILA -- The Philippine Center for Postharvest Development and Mechanization (PhilMech) is currently finalizing the guidelines for the farm mechanization component of the Rice Competitiveness Enhancement Program (RCEP). PhilMech Executive Director Dr. Baldwin G. Jallorina, in a statement, said… Read More
Why Kapa needs to be shut down: A financial adviser's perspective
June 14, 2019, 6:41 pm
MANILA -- Charlatans peddling spurious investment schemes are aplenty in the Philippines, and so are people who insist on taking part in them because of the almost unbelievable returns on investment they promise. However, there is a reason why authorities are trying to put a stop to Ponzi… Read More
AirAsia Group puts 5M seats on 'big sale'
June 14, 2019, 6:35 pm
MANILA -- Low-cost airline AirAsia Group on Friday announced 5 million seats are up for grabs in its "big sale" slated on June 17-19. "(The Group) is having a big sale this June because we would like to give back to our loyal customers, and also to give people more reasons to travel with their… Read More
SSS serves show cause orders vs. 13 firms in Cebu
June 14, 2019, 5:57 pm
CEBU CITY -- The Social Security System (SSS) on Friday conducted its Run Against Contribution Evaders (RACE) against 13 establishments in Mandaue City, Cebu. Helen Solito, senior vice president for SSS-Visayas, said the RACE team of the SSS central office and the Central Visayas regional office… Read More
ASF virus detected in canned meat from HK
June 14, 2019, 4:09 pm
MANILA -- The African Swine Fever (ASF) viral gene has been detected in cans of Sky Dragon luncheon meat brought in from Hong Kong last March 25 and confiscated at the Clark International Airport in Clark field, Pampanga from a returning resident. According to Dr. Rachel R. Azul, Doctor of… Read More
PLDT eyes commercial launch of 5G services by Q4
June 13, 2019, 8:59 pm
MANILA -- PLDT Inc. is eyeing the commercial launch of its fifth generation (5G) technology services for its residential and business customers by the fourth quarter of this year. “Probably Enterprise and Home within the year. Wala pa namang gadgets; standards wala pa rin (There are still no… Read More
Economist eyes resilient peso despite increasing trade deficit
June 13, 2019, 8:58 pm
MANILA -- An economist for the Tan-led Philippine National Bank (PNB) forecasts the Philippine peso to remain resilient despite a slight deterioration in the country’s trade deficit. In a report, PNB economist Jun Trinidad expressed his observation that the USD3.49-billion trade deficit last… Read More
TDF undersubscribed, rates post mix results
June 13, 2019, 8:22 pm
MANILA -- The Bangko Sentral ng Pilipinas’ (BSP) term facilities were mostly undersubscribed during the auction on Thursday even while the rates were mostly higher. Data released by the central bank showed that the 13-day and 27-day facilities, both a day short of their original tenor due to the… Read More
PJ Lhuillier goes digital with ‘fintech’ partnership
June 13, 2019, 8:19 pm
MAKATI CITY – Local non-bank financial services provider, P.J. Lhuillier, Inc. (PJLI), parent company of Cebuana Lhuillier, formally inked a partnership deal with financial technology (fintech) company Satoshi Citadel Industries (SCI) Ventures, Inc in its bid to enter the digital financial… Read More
Peso little changed, local stocks up
June 13, 2019, 7:49 pm
MANILA -- Risk aversion, fueled by ongoing trade issues between the US and China, resulted in the sideways close of the Philippine peso on Thursday but the main equities index managed to rise. The local currency finished the day at 51.865, little changed from its 51.85 finish last Tuesday. There… Read More
Industry leaders maintain bullish outlook on banking system: BSP
June 13, 2019, 2:43 pm
MANILA -- The Bangko Sentral ng Pilipinas (BSP) disclosed on Tuesday that it has published the Report on the Banking Sector Outlook Survey (BSOS) for the second semester of 2018. Survey results show that banks maintain their optimism on the country’s economic prospects as 86.1 percent of the… Read More
Marawi bonds to be issued for large-scale rehab projects
June 13, 2019, 2:18 pm
MANILA -- The government is contemplating several features to make ‘Marawi bonds’ attractive to investors in order to help produce the funds necessary for the second, cash-intensive phase of the comprehensive rehabilitation plan for the war-torn city, the Department of Finance (DOF) said in a… Read More
DOF seeks ways to engage incoming Congress on priority bills
June 12, 2019, 5:40 pm
MANILA -- Finance Secretary Carlos Dominguez III has ordered a study on ways to actively engage lawmakers of the incoming Congress to speed up the approval of the rest of the Duterte administration’s tax reform packages, as well as to apprise them of the untenability and adverse financial… Read More
