Business
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
Beverage firm launches roadmap to boost PH recycling industry
June 12, 2019, 8:21 am
MANILA -- Beverage giant Coca-Cola Philippines launched on Tuesday one of its important commitments to help boost the country’s recycling industry aimed at increasing job generation for Filipinos and consequently reduce plastics in the ocean. At the Blue Leaf Filipinas in Parañaque City, the… Read More
Portion of MRT 7 ready by end-2021
June 11, 2019, 8:41 pm
MANILA -- Diversified conglomerate San Miguel Corp. (SMC) targets to open a 20-km. portion of the Metro Rail Transit (MRT) Line 7 by end of 2021 amid right-of-way (ROW) issues hounding the project. SMC president and chief operating officer Ramon Ang said the construction of the MRT project is in… Read More
PLDT optimistic of exceeding 2019 core income guidance
June 11, 2019, 8:38 pm
MANILA -- PLDT Inc. is confident about breaching its core income guidance of PHP26 billion this year, with the growth of wireless services as its primary driving force. “I think 2019 would be better; we are guided at PHP 26 billion. In 2018, it was PHP 24 billion but I think we’ll be better… Read More
Airline execs support plan to use Sangley airport
June 11, 2019, 8:12 pm
MANILA -- Executives from Philippine Airlines (PAL), Cebu Pacific (CEB) and AirAsia Philippines on Tuesday told the Philippine News Agency (PNA) they support the government plan to use the Sangley airport for general aviation and domestic flights. "We are very happy that the government (will)… Read More
Peso gains ground, local shares slip
June 11, 2019, 7:25 pm
MANILA -- The Philippine peso improved against the US dollar Tuesday, ending stronger at the 51-level, but the Philippine Stock Exchange index (PSEi) closed in the red territory. The local currency finished the trade at 51.85 from 52.1 close a day ago, which BPI Research attributed to the… Read More
Economist sees improvement in PH's net FDIs
June 11, 2019, 7:24 pm
MANILA -- A respected economist has projected an improvement in the Philippines’ net foreign direct investment (FDI) due to a confluence of factors, including advancements in the country’s investment grade, decline in interest rates, and possible trade deal between the US and China. The Bangko… Read More
Reforms needed to sustain exports recovery: NEDA
June 11, 2019, 5:33 pm
MANILA — The National Economic and Development Authority continues to push for critical legislative agenda to make the Philippine export industry more attractive and competitive. The Philippine Statistics Authority on Tuesday reported that the country’s total merchandise trade declined by1.0… Read More
Steady policy rates until August seen
June 11, 2019, 5:30 pm
MANILA -- Monetary Board Member Felipe M. Medalla forecasts a steady policy rate for the Bangko Sentral ng Pilipinas (BSP) until August 2019 on the back of policy indicators remaining stable at the moment. During the "Conference on Gearing Up for External Competitiveness" held at the central bank… Read More
BOI OKs P291-B investments in Jan-May, up 40%
June 11, 2019, 5:29 pm
MANILA -- Total approved investments recorded by the Board of Investments (BOI) from January to May reached PHP290.6 billion, a 40.1 percent increase from PHP207.5 billion in the same period last year. Approved investments from foreign sources continued with its upward trend at PHP67 billion from… Read More
D&L Industries sees higher income growth in Q2
June 11, 2019, 5:26 pm
MANILA -- Food and plastic input manufacturer D&L Industries is optimistic that growth picked up in the second quarter of the year, as it seeks to boost its exports business to complement the domestic market's healthy performance. D&L Industries president Alvin Lao told reporters after the… Read More
5-year dev’t plan for Region 8 up for review
June 11, 2019, 4:38 pm
TACLOBAN CITY -- The 2017-2022 Eastern Visayas Regional Development Plan (RDP) is now up for a six-month assessment and updating after more than two years of implementation. Since last month, workshops were being conducted for the inter-agency technical planning groups tasked to lead the updating… Read More
Johnsonville eyes manufacturing in PH
June 10, 2019, 9:08 pm
MANILA -- United States-based Johnsonville LCC, a firm specializing in sausages, is looking to establish manufacturing operations in the Philippines through a joint venture with Frabelle Fishing Corp. (FFC). The Philippine Competition Commission has approved the joint venture to be called Frabelle… Read More
Biz group says CBAs better avenue for settling wage hike issues
June 10, 2019, 8:51 pm
MANILA -- An influential business group representing mostly the manufacturing sector believes that petitions for wage increases are better settled through collective bargaining agreements (CBA) between the management and employees of companies rather than pursuing it by legislation. Federation of… Read More
SEC to file criminal charges vs. Kapa over alleged scam
June 10, 2019, 8:48 pm
MANILA -- The Securities and Exchange Commission (SEC) on Monday said it intends to file criminal charges against Kapa-Community Ministry International, Inc. (KAPA) and its officials for operating an alleged fraudulent scheme which it considers as the biggest investment scam ever seen in the… Read More
PSEi buoyed by emerging US-Mexico trade deal, peso sideways
June 10, 2019, 8:08 pm
MANILA -- Encouraging developments concerning US-Mexico trade issues resulted in the rise of the Philippine Stock Exchange index (PSEi) to the 8,000-level and sideways close of the peso against the greenback Monday. The main equities gauge ended the week’s first trading day at 8,045.39 points,… Read More
Action star Robin Padilla to help promote agriculture
June 10, 2019, 8:06 pm
MANILA -- Action star Robin Padilla on Monday volunteered to help the Department of Agriculture (DA) in its promotions and marketing programs to help farmers and fisherfolk generate more income. On the sidelines of the launching of the Metro Marketing Program for Philippine mangoes at the DA… Read More
Lower borrowing program for Q3 eyed
June 10, 2019, 8:03 pm
MANILA -- National Treasurer Rosalia De Leon is considering a lower borrowing program for the third quarter of 2019 given the delay in the approval of this year’s national budget. She said borrowing in the third quarter might be below the PHP315 billion in the second quarter. She explained that… Read More
PH T-bill rates post record decline
June 10, 2019, 7:06 pm
MANILA – The rates of Philippine Treasury bills (T-bills) posted record drops of more than 40 basis points Monday, which National Treasurer Rosalia De Leon attributed to the market's expectations of cuts in central bank rates here and abroad. Average rate of the 92-day paper, a day longer like… Read More
