Business
UnionBank economist eyes steady BSP rates after inflation uptick
June 5, 2019, 5:42 pm
MANILA – The research arm of the Union Bank of the Philippines (UnionBank) expects the Bangko Sentral ng Pilipinas (BSP) to hold key policy rates steady this month after inflation rate rose to 3.2 percent last May. UnionBank chief economist Ruben Carlo Asuncion told the Philippine News Agency… Read More
Assets, membership of Novaliches-based coop continue to expand
June 5, 2019, 2:01 pm
MANILA--From an initial capital of PHP7,000 put up in 1976 by its 15 founding members, the assets of the Novaliches Development Cooperative Inc. (Novadeci), based in the northernmost parts of Quezon City and Caloocan City, have increased to PHP2.86 billion as of April 2019. As its assets continue… Read More
DTI pitches PH growth story to SoKor investors
June 5, 2019, 1:15 pm
SEOUL -- Trade Secretary Ramon Lopez highlighted the strong macroeconomic fundamentals and the continuing growth story of the Philippines to South Korean business executives during a high-level roundtable meeting on Tuesday. Lopez emphasized the opportunities South Korean companies, particularly… Read More
Philip Morris lauds passage of cigarette excise tax bill
June 4, 2019, 8:35 pm
MANILA -- The management of Philip Morris Fortune Tobacco Corporation (PMFTC) on Tuesday lauded the Senate's decision to pass the bill increasing further the excise tax on tobacco products. PMFTC Inc. Corporate Communications head Dave Gomez, in a statement, said passage of the bill is a step… Read More
Peso widens gains, local stocks lose steam
June 4, 2019, 7:49 pm
MANILA – The Philippine peso appreciated anew against the US dollar Tuesday but the sentiment turned sour for local shares, pulling the Philippine Stock Exchange index (PSEi) down. The local currency ended the day at 51.78 from 51.91 a day ago, which BPI Research attributed to the inverted US… Read More
Piñol to discuss agri exports with Japanese counterpart
June 4, 2019, 7:20 pm
MANILA -- Agriculture Secretary Emmanuel Piñol is set to meet with his Japanese counterpart, Agriculture, Forestry and Fisheries Minister Yoshikawa Takamori, on June 5 to discuss possible exportation of agricultural products as well as tariff issues on Philippine bananas. Piñol, who accompanied… Read More
GSIS chief renews plan to sell 78-ha Port Area property
June 4, 2019, 7:19 pm
MANILA — Government Service Insurance System (GSIS) President and General Manager Jesus Aranas is confident the agency will be able to bid out its 78-hectare property at the Manila North Harbor within the year. The property is composed of a 67-hectare commercial lot, currently occupied by the… Read More
Now Telecom to offer 5G services in PH
June 4, 2019, 7:18 pm
MANILA -- Now Corporation affiliate Now Telecom is planning to offer fifth generation (5G) technology services in the country in competition with telco giants PLDT Inc. and Globe Telecom. This as its board recently approved the adoption of 5G technology for enterprises and homes providing speeds… Read More
Confidence in PH economy propels AirAsia expansion plans: solon
June 4, 2019, 6:33 pm
MANILA -- Confidence in the country’s strong economic growth trajectory and its desire to serve more Filipinos are the main factors in Philippines AirAsia’s major expansion plans, said the new majority shareholder of the company that owns the budget airline on Tuesday. In a statement, 1-Pacman… Read More
FDA stops sale of 'adulterated' vinegars
June 4, 2019, 6:30 pm
MANILA -- The Food and Drug Administration (FDA) on Tuesday released the names of vinegar brands found to contain synthetic acetic acid, in line with its efforts to keep the consuming public properly informed about the products they are buying. These brands include Surebuy Cane Vinegar, Tentay… Read More
BFAR assures ample supply of tilapia amid fish kill
June 4, 2019, 6:26 pm
MANILA -- The Bureau of Fisheries and Aquatic Resources (BFAR) of the Department of Agriculture (DA) on Tuesday assured there is sufficient supply of tilapia to meet the market's demand despite the fish kill in Taal Lake, Batangas. In a statement, BFAR said the depleted level of dissolved oxygen… Read More
AirAsia earns P7-B in Q1: owner
June 4, 2019, 6:09 pm
MANILA -- AirAsia Philippines' new major shareholder, F&S Holdings, Inc. owner Michael Romero, considers 2019 as a good year for the airline, and thinks its good performance and profit would be maintained throughout the year. "The first quarter was very good and profitable for AirAsia… Read More
Airline execs call for fair, transparent airport slots
June 4, 2019, 6:05 pm
MANILA -- Executives from AirAsia Philippines, as well as from other carriers globally, said there is a need for fair and transparent airport slots. Airport slots determine a carrier's landing and take-off slots. AirAsia Philippines' new major shareholder, Michael Romero, told the Philippine News… Read More
'Whole-of-gov't approach' needed to lift manufacturing sector
June 4, 2019, 4:15 pm
MANILA -- A strong whole-of-government approach is necessary to boost manufacturing growth amid the sector’s sluggish performance, the National Economic and Development Authority (NEDA) said in a statement on Tuesday. Results of the Philippine Statistics Authority’s (PSA) Monthly Integrated… Read More
Grab to deactivate 8K drivers by June 10
June 4, 2019, 12:43 pm
MANILA -- Ridesharing firm Grab Philippines will deactivate at least 8,000 drivers of transportation network vehicle services (TNVS) units who do not have provisional authority from the Land Transportation Franchising and Regulatory Board (LTFRB) by June 10. This, as the LTFRB opened 20,000 slots… Read More
Security Bank, UCPB issue advisory for Eid'l Fitr holiday
June 4, 2019, 10:17 am
MANILA – Most branches of Security Bank Corporation (Security Bank) and all branches of UCPB will be closed on Wednesday, June 5, in line with the observance of Eid'l Fitr (Feast of Ramadhan), which Malacanang has declared a holiday. Security Bank, in an advisory, said two branches namely those… Read More
Peso strengthens to 51-level vs. USD, PSEi up
June 3, 2019, 9:22 pm
MANILA -- Positive investors sentiment boosted both the Philippine peso, which firmed up to the 51-level against the greenback, and the Philippine Stock Exchange index (PSEi) Monday. The local unit ended the week’s first trading day 51.91 from 52.16 Friday last week. UnionBank chief economist… Read More
Demand for T-bills up, rates down
June 3, 2019, 7:52 pm
MANILA -- The impact of cuts in banks’ reserve requirement ratio (RRR) along with expectations for additional cuts in the Bangko Sentral ng Pilipinas’ (BSP) key rates resulted in a strong demand for Treasury bills (T-bills) on Monday. The Bureau of the Treasury (BTr) offered PHP15 billion… Read More
Mango growers seek DA's help over 2-M kilo surplus
June 3, 2019, 7:49 pm
MANILA -- Spurred by an overproduction of around two million kilos of mangoes in Luzon alone, the Department of Agriculture (DA) will launch on June 10 the Metro Mango Marketing Program to help farmers unload their produce. Agriculture Secretary Emmanuel "Manny" Piñol, in a press briefing on… Read More
Monorail eyed as main feature of Cebu integrated transport system
June 3, 2019, 6:45 pm
CEBU CITY -- The Davao-based business group’s proposed monorail system will be the main feature of the Integrated Inter-modal Transport System (IITS), according to the presidential assistant for the Visayas on Monday. Secretary Michael Lloyd Dino, chief of the Office of the Presidential… Read More
