Business
Estate tax amnesty rules finalized by June
May 27, 2019, 1:52 pm
MANILA -- The Bureau of Internal Revenue (BIR) has conducted public consultations to discuss the proposed Revenue Regulations (RR) to implement the provisions of Republic Act 11213 relative to the Estate Tax Amnesty, officials of the bureau's Public Information and Education Division said in a… Read More
Peso seen to remain firm vs. USD amid correction
May 27, 2019, 8:22 am
MANILA – The Philippine peso is projected to trade between 52.00 to 52.10 against the US dollar this week after its recent correction following a two-week rally, Michael Ricafort, Rizal Commercial Banking Corporation (RCBC) Economics and Industry Research Division head, said. The peso… Read More
Economic managers announce growth catch up plan
May 24, 2019, 8:08 pm
MANILA – Economic managers have agreed to further strengthen coordination with other agencies, especially on acquiring permits and other requirements, to fast-track implementation of infrastructure and socioeconomic programs to meet 2019 growth targets amid the impact of budget delay. Finance… Read More
PSEi ends 4-day rise, PHP almost unchanged vs. USD
May 23, 2019, 9:14 pm
MANILA -- Profit-taking ended the Philippine Stock Exchange index’s (PSEi) four-day rally on Thursday. The PSEi finished the day down by 0.14 percent, or 11.04 points, to 7,804.03 points, which a trader attributed to lack of leads on the back of trade issues abroad. All shares contracted by… Read More
BSP cuts TBs, RBs, Coop Banks' RRR
May 23, 2019, 9:04 pm
MANILA – Philippine monetary officials on Thursday cut mid-sized and small banks’ reserve requirement ratio (RRR), a week after cutting universal and commercial banks’ (U/KB) RRR. “This morning, the Monetary Board decided to cut the RRR for thrift, savings and cooperative banks,” Bangko… Read More
PSEi rises, peso falls on global trade issues
May 22, 2019, 9:53 pm
MANILA -- The Philippine Stock Exchange index (PSEi) on Wednesday benefitted from the US government’s decision to delay its ban on Huawei products but the peso depreciated due to continued trade concerns overseas. PSEi ended the day up by 1.21 percent, or 93.51 points, to 7,815.07 points. All… Read More
BSP hails tax exemption for small-scale gold miners
May 22, 2019, 7:38 pm
MANILA -- Bangko Sentral ng Pilipinas (BSP) officials applauded the amendment of the National Internal Revenue Code that exempted small-scale miners from paying income and excise tax for the gold that they sell to the central bank. President Rodrigo R. Duterte signed into law Republic Act (RA)… Read More
Coco farmers to undergo natural vinegar production training
May 22, 2019, 7:11 pm
MANILA -- As the government prepares to purge "fake" vinegar from the consumer market, the Department of Agriculture (DA) and the Philippine Coconut Authority (PCA) will begin the nationwide training of farmers and women's groups on the production of natural vinegar, using agricultural products to… Read More
Expansion of corn, sorghum areas to meet hog, poultry demand growth
May 22, 2019, 5:09 pm
MANILA -- With the projected increase in demand for hogs and poultry, especially in countries affected by the African swine fever (ASF), the Department of Agriculture (DA) is expanding the production areas of corn and sorghum by 100,000 hectares each. Agriculture Secretary Emmanuel "Manny" Piñol,… Read More
DMCI to spend P2-B on railway projects in 2 yrs
May 21, 2019, 9:36 pm
MANILA -- The construction arm of DMCI Holdings Inc. aims to spend PHP2 billion to support its railway construction activities in the next two years, as it expects to break ground on the first phase of the North South Commuter Railway (NSCR) project which will connect Tutuban in Manila and… Read More
Dominguez cites benefits of less 'sin products' consumption
May 21, 2019, 8:47 pm
MANILA -- Finance Secretary Carlos G. Dominguez vowed that government's drive against the illicit cigarette trade will continue but admitted that there will always be those who will try to engage in the illegal trade. This, as he stressed the agency’s support for legislative measures that will… Read More
Local markets higher on Tuesday
May 21, 2019, 8:32 pm
MANILA -- Both the Philippine Stock Exchange index (PSEi) and the peso gained Tuesday due to investors' risk-aversion to overseas markets given lingering trade issues between US and China. The main equities index rose 0.80 percent, or 61.42 points, to 7,721.56 points, which Regina Capital Managing… Read More
Piñol orders labeling of 'natural' and 'synthetic' vinegars
May 21, 2019, 8:31 pm
MANILA -- Agriculture Secretary Emmanuel "Manny" Piñol on Tuesday directed the Bureau of Agriculture and Fisheries Standards (BAFS) to set norms for vinegar manufacturing, with only sour condiments produced through natural fermentation process should be labeled "vinegar" or "suka." "As Secretary… Read More
Gov’t targets 50-M Filipinos for micro insurance coverage by 2022
May 21, 2019, 8:29 pm
MANILA -- The government targets to place 11 million more Filipinos under microinsurance coverage in the next four years to provide protection and financial security especially in times of calamities. “We would like to cover at least 50 million (Filipinos) by 2022… Actually, we want to go to… Read More
Gov't to let go 839 NFA employees
May 21, 2019, 7:19 pm
MANILA -- Some 839 employees of the National Food Authority's (NFA) 4,000-strong workforce will be retired this month in line with the agency's restructuring, as stipulated in the implementing rules and regulations (IRR) of Republic Act No. 11203 or the Rice Tariffication Law. "There will be a… Read More
PhilMech launches rice mechanization component of RCEF
May 21, 2019, 6:54 pm
MANILA -- The Philippine Center for Postharvest Development and Mechanization (PHilMech) formally launched on Tuesday its Rice Mechanization Component, under the Rice Competitiveness Enhancement Fund (RCEF), to improve rice production in the country. The launching was held during the agency's 41st… Read More
Megaworld to build another residential tower in Capital Town Pampanga
May 21, 2019, 6:53 pm
MANILA -- Property giant Megaworld is launching a new residential condominium development, its second one inside the 35.6-hectare Capital Town Pampanga township in the City of San Fernando, Pampanga. To be called Bryant Parklane, derived from New York City’s famous Bryant Park, the 16-storey… Read More
EVOSS to help lower PH power cost: Fuentebella
May 21, 2019, 6:37 pm
MANILA -- Cutting down on the bureaucracy involved in power sector investments will redound to cheaper rates and help achieve the projected 43,000 megawatts (MW) additional capacity needed by the Philippines by 2040, the year it is eyed to become a high-income economy, a top energy official said.… Read More
Premiere co-working space operator opens 3rd hub at 8 Rockwell
May 21, 2019, 6:20 pm
MAKATI CITY – Malaysia-based workspace operator Common Ground has further galvanized its Philippine presence with the opening of its new facility in 8 Rockwell, touted as one of the most premier locations in the metropolis. Officially launched to media and public on Friday, May 17, this 3rd hub… Read More
PH gov't seeks closer economic ties with SoKor
May 21, 2019, 4:12 pm
MANILA -- Finance Secretary Carlos Dominguez III has reaffirmed the Philippine government’s desire to deepen economic ties with South Korea, which recently unveiled plans to pivot towards the Association of Southeast Asian Nations (Asean) and expand its assistance to countries in the region, the… Read More
