Business
PAL joins IATA's air transport summit in Seoul
June 3, 2019, 6:12 pm
MANILA -- Philippine Airlines (PAL), the only Philippine carrier in the International Air Transport Association (IATA), attended the association's 75th Annual General Meeting (AGM) and World Air Transport Summit slated from June 1-3 at the COEX Convention Center in Seoul. The event, which… Read More
PH, ROK launch FTA negotiations, hold first JCTEC meet
June 3, 2019, 5:47 pm
SEOUL – Stronger bilateral relations between the Philippines (PH) and Republic of Korea (ROK) are expected as Trade and Industry Secretary Ramon Lopez and Minister for Trade, Industry, and Energy Yoo Myung-hee officially launched the negotiations of the PH-ROK Free Trade Agreement (FTA) Monday.… Read More
UnionBank CEO eyes higher loan growth because of RRR cuts
June 3, 2019, 5:18 pm
MANILA -- Top management of Union Bank of the Philippines (UnionBank) is expecting that the cut in banks’ reserve requirement ratio (RRR) will further lift loan growth to around 18 percent this 2019. In an interview after the listing of the bank’s PHP5.8-billion three-year fixed rate notes… Read More
Major oil price rollback set Tuesday
June 3, 2019, 4:25 pm
MANILA -- Another oil price rollback is in the pipeline, and this one is likely to be particularly pleasing to motorists when it takes effect on Tuesday (June 4). Major and independent oil firms in the country announced over the weekend that they will implement significant reductions in local pump… Read More
Bank lending continues to grow in April: BSP
June 3, 2019, 1:20 pm
MANILA -- Preliminary data show that outstanding loans of universal and commercial banks, net of reverse repurchase (RRP) placements with central bank, grew at a slightly slower rate of 12.7 percent in April from 12.9 percent (revised) in March, the Bangko Sentral ng Pilipinas (BSP) disclosed in a… Read More
AirAsia PH boosts PH-Taiwan service
June 2, 2019, 5:37 pm
MANILA -- AirAsia Philippines is boosting its services between the Philippines and Taiwan, as it launches flights between Clark and Kaohsiung, and Cebu-Kaohsiung starting August 1. "Kaohsiung is one of the biggest cities in Taiwan, and (it's) closer to the Philippines than Taipei," AirAsia… Read More
PEZA okays P29-B investment pledges in 4 months
June 2, 2019, 5:08 pm
MANILA — The Philippine Economic Zone Authority (PEZA) has approved a total of PHP29.49 billion worth of investment pledges in the first four months of 2019, data from the investment promotion agency showed. Although investment approvals for January to April 2019 is lower by 24.5 percent from… Read More
BSP forecasts May inflation at 2.8%-3.6%
June 1, 2019, 8:14 am
MANILA -- Higher jeepney fare in the Visayas, as well as upticks on selected food items are seen as risks to the May inflation, which the Bangko Sentral ng Pilipinas (BSP) projected to stay between 2.8 percent and 3.6 percent. “Positive base effects” may also contribute to the “temporary… Read More
Facebook conducts digital workshop for Cebu SMEs
May 31, 2019, 6:58 pm
CEBU CITY -- Digital transformation is the trend right now for small and medium-sized enterprises (SME) in the country, a client-partner of Facebook Philippines said here on Friday. Chay Mondejar-Saputil, Facebook PH client partner, said it is important for businesses of all sizes to be able to… Read More
JG Summit sets P87.5-B capex for expansion
May 31, 2019, 5:30 pm
MANILA – The Gokongwei-led conglomerate, JG Summit Holdings Inc., aims to spend PHP87.5 billion this year, mainly to expand its petrochemicals, airline, property and food businesses, as it is bullish on economic growth prospects. JG Summit president and chief executive officer Lance Gokongwei… Read More
DAR adds microfinance in new phase of project for small farmers
May 31, 2019, 4:24 pm
MANILA -- The Department of Agrarian Reform (DAR) launched an expanded version of its project that links agrarian reform beneficiaries (ARB) and smallholder farmers to the supply chain of products. Linking Smallholder Farmers to Markets (LinkSFarM), now rebranded with an additional “M” at the… Read More
PSEi rises on window dressing, peso ends stronger
May 30, 2019, 8:34 pm
MANILA -- Local share prices rose for the third straight day on Thursday aided by month-end window dressing activities, while the peso strengthened against the US dollar. The benchmark Philippine Stock Exchange index (PSEi) increased 38.80 points or 0.50 percent to 7,836.55. “It was a… Read More
PH lifts ban on several fish species from Fukushima
May 30, 2019, 7:32 pm
MANILA -- The Philippines has lifted a seven-year-old ban on the importation of several fish species from Fukushima Prefecture as a gesture of goodwill during the visit of President Rodrigo Duterte and his Cabinet members to Japan this week. On his Facebook page, Agriculture Secretary Emmanuel… Read More
Young coco exports to US another PRRD achievement: Piñol
May 30, 2019, 5:14 pm
MANILA -- Agriculture Secretary Emmanuel Piñol on Thursday hailed the Duterte administration for the latest achievement in the agricultural sector as the United States Department of Agriculture (USDA) allowed the entry of young coconuts (buko) to America. "(This is) another PRRD (President… Read More
Fast-tracked infra projects to reduce reg’l income gaps
May 30, 2019, 4:57 pm
MANILA -- The government is fast-tracking the implementation of infrastructure projects to boost regional growth and reduce the widening gaps across the regions, the National Economic and Development Authority (NEDA) said Thursday. “The government has to continually increase its efforts in… Read More
Hopes up for passage of tobacco tax hike bill by June
May 29, 2019, 8:27 pm
MANILA -- An official of the National Economic and Development Authority (NEDA) hopes that the measure seeking to increase the excise taxes on tobacco products will be passed in June. “The sin tax is one of the things that we hope will pass before this Congress ends because we need a fiscal… Read More
Praxis Gameplay: teaching finance in a fun, unique way
May 29, 2019, 7:35 pm
MAKATI CITY -- Picture yourself immersed in an old familiar board game where the elements are basically everything that can happen to your financial life, but at the end of the one to two-hour session, you are left with some financial realization and yearning to take action. This unique, safe, low… Read More
Rockwell Land sets P14-B capex for 2019
May 29, 2019, 7:06 pm
MANILA -- Upscale property developer Rockwell Land Inc. is spending up to PHP14 billion this year for its new projects, as well as on the acquisition of additional lands. “PHP12 billion to PHP14 billion still mostly developments. There are some land acquisitions there may be about 15 percent,… Read More
PSEi closes near 7,800-level, peso weakens
May 29, 2019, 6:11 pm
MANILA -- Local stocks continued to gain, ending near the 7,800 level at the close of Wednesday's session, as investors extended their buying position but the peso weakened further against the US dollar. The benchmark Philippine Stock Exchange index (PSEi) increased 36.46 points or 0.47 percent to… Read More
BSP OKs new guidelines for external auditors
May 29, 2019, 2:42 pm
MANILA -- The Monetary Board approved the revised guidelines governing the selection, appointment and delisting of external auditors of Bangko Sentral ng Pilipinas (BSP) Supervised Financial Institutions (BSFIs). The new guidelines aim to streamline the selection process for external auditors… Read More
