Business
DA to help mango growers improve competitiveness
June 10, 2019, 7:05 pm
MANILA -- Agriculture Secretary Emmanuel "Manny" Piñol on Monday said mango growers are set to undergo a workshop next week to enhance their production know-how, making them more internationally competitive, as part of the Metro Marketing Program for Philippine mangoes. "The Department of… Read More
PAL says PRRD 'satisfied' with its actions to address delays
June 10, 2019, 5:38 pm
MANILA -- Philippine Airlines (PAL), which uses the Ninoy Aquino International Airport (NAIA) Terminal 2, on Monday said President Rodrigo Duterte appeared to be satisfied with its actions to address passenger concerns amid the temporary halt of NAIA ramp operations due to lightning alert on… Read More
Cebu Pacific cancels 41 flights due to NAIA red lightning alert
June 10, 2019, 5:32 pm
MANILA -- Local carrier Cebu Pacific (CEB) has cancelled a total of 41 flights from June 9 to 10 as a result of the red lightning alert that authorities at Ninoy Aquino International Airport (NAIA) announced Sunday evening. The flights (eight international, 33 domestic) have been cancelled from… Read More
Fuel prices to go down by more than P2/L Tuesday
June 10, 2019, 5:24 pm
MANILA -- Filipino motorists are in for a big treat thanks to world crude prices moving in a more consumer-friendly direction last week. In separate statements, local oil companies announced significant price reductions in liquid fuels, which will take effect 6 a.m. Tuesday. Both major and… Read More
$586-M FDI inflow posted in March, hits $1.9-B in Q1
June 10, 2019, 3:05 pm
MANILA -- Foreign direct investments (FDI) posted USD586 million net inflows in March 2019, which is lower by 13.9 percent than the USD681 million net inflows registered in the comparable period last year. This developed on account of the decline in net equity capital investments, as placements… Read More
NEDA cites 3 factors to sustain E. Visayas 2019 growth
June 10, 2019, 2:33 pm
TACLOBAN CITY – The National Economic and Development Authority (NEDA) has cited three opportunities for Eastern Visayas to sustain its economic growth this year. The enactment of the Rice Tariffication Law, the Ease of Doing Business Act, as well as election spending are the three major… Read More
PSEi higher, peso weaker as trading week closes
June 7, 2019, 9:35 pm
MANILA – The Philippine Stock Exchange index (PSEi) managed to end the week up amid risk aversion by investors but the peso went back to the 52-level in the wake of international trade issues. PSEi ended the week up 0.30 percent, or 24.12 points, to 7,983.98 points. BPI Research said the main… Read More
More tax reforms needed for fiscal sustainability: Dominguez
June 7, 2019, 7:52 pm
MANILA -- Finance Secretary Carlos Dominguez III has high hopes that additional tax reform measures will be passed to generate funding for the government’s infrastructure program and ensure fiscal stability. In his speech during the joint membership meeting of several business organizations in… Read More
Swedish firms keen to trade, invest more in PH
June 7, 2019, 6:49 pm
MANILA -- Swedish companies are keen to trade and invest more in the Philippines, particularly in various infrastructure endeavors, amid the country's strong economic performance. Swedish Ambassador to the Philippines Harald Fries said many Swedish firms are already engaged in engineering, waste… Read More
DOF steers clear of GSIS port area property ownership issue
June 7, 2019, 5:47 pm
MANILA -- A ranking official of the Department of Finance (DOF) said the agency has nothing to do with the ownership issue of the Government Service Insurance System (GSIS) over a portion of land in Manila, which is currently occupied by a port operator. This, amid plans by the GSIS management to… Read More
Maxus eyes big leap in sales volume
June 6, 2019, 8:48 pm
MANILA -- Maxus Philippines expects to double or even triple its sales volume next year, as it introduced to the Philippine market its flagship models of multipurpose vehicles (MPV) and vans. “We have a modest target this year. Because it's only six months, we’re looking at about 500, 600… Read More
Local markets higher on Thursday
June 6, 2019, 7:29 pm
MANILA -- While concerns over trade issues overseas remain, the Philippines' main equities index managed to rise even as the peso ended sideways but with an upward bias on Thursday's session. The Philippine Stock Exchange index (PSEi) jumped 0.18 percent, or 14.49 points, to 7,959.86 points.… Read More
Economists eye below 2% inflation by Q3
June 6, 2019, 7:24 pm
MANILA -- Economists of First Metro Investment Corporation (FMIC) and the University of Asia and the Pacific (UA&P) have forecast the domestic inflation to fall below 2 percent by September this year due to base effects. The country experienced elevated inflation rates in 2018, with the peak… Read More
TDFs undersubscribed as rates rise across-the-board
June 6, 2019, 4:35 pm
MANILA -- The rates of Bangko Sentral ng Pilipinas' (BSP) term deposit facilities rose across-the-board Thursday, although all tenors ended up undersubscribed. Data released by the central bank showed that banks submitted a total of PHP31.614-billion worth of bids, lower than the total of… Read More
DMCI Homes continues 'land bank' expansion
June 6, 2019, 3:31 pm
MANILA -- DMCI Homes, the property arm of DMCI Holdings, Inc., continues to grow its land bank amid its ongoing expansion. From 125 hectares in March 2018, DMCI Homes’ total land bank expanded to 150 hectares as of March 31 this year, the company said in a statement on Thursday. The developer… Read More
Japanese importer to buy 100 MT mangoes
June 6, 2019, 12:59 pm
MANILA -- A Japanese fruit importing company is buying 100 metric tons (MT) of mango from the Philippines. Agriculture Secretary Emmanuel “Manny” Piñol, who is in Tokyo, Japan said in his FB page that Diamond Star Agro Products, Inc., which has been importing papayas, pineapple, mango,… Read More
Inflation seen to settle back to target levels
June 5, 2019, 8:17 pm
MANILA – The Philippines’ inflation rate is expected to return to its deceleration mode in the coming months after an uptick to 3.2 percent last May from only three percent last April. In a report, Michael L. Ricafort, Rizal Commercial Banking Corporation (RCBC) Economics & Industry Research… Read More
Rise in PH's May inflation temporary
June 5, 2019, 7:29 pm
MANILA – Philippine monetary officials called the marginal rise in the country's inflation rate as "temporary" and does not indicate a turn-around from its downward trajectory in the last six months. This, after the Philippines posted a 3.2 percent inflation rate last month, marginally higher… Read More
Gov’t urged to intensify crackdown vs. oil smuggling
June 5, 2019, 7:07 pm
MANILA -- The government should intensify its efforts against the rampant smuggling of petroleum products in order to generate revenues for infrastructure projects under the Build, Build, Build Program as well as the implementation of the Universal Health Care (UHC) program. Federation of… Read More
DA asks couriers to reject meat, products from ASF countries
June 5, 2019, 5:47 pm
MANILA -- In an effort to intensify quarantine security to prevent the entry of pork and pork products affected by the dreaded African swine fever (ASF) in the country, Department Agriculture (DA) Secretary Emmanuel "Manny" Piñol issued Memorandum Circular No. 07 directing all courier service… Read More
