Business
Tariff fails to stem cement over-importation
May 21, 2019, 1:57 pm
MANILA -- The recent 4-percent tariff has failed to curb the flooding of imported cement in the Philippines, thus raising the need for more protection for local manufacturers that continue to produce high-quality products despite the challenges they face in the market. The Department of Trade and… Read More
Number of Bacolod condo units sold in 2018 up by 93%
May 21, 2019, 12:06 pm
BACOLOD CITY -- The number of condominium units sold in this city in 2018 increased by 93 percent, according to the latest report of real property services firm, Colliers International Philippines. In 2017, only 290 units were sold, but the following year, some 560 condominium units were purchased… Read More
NLEX implements Subic Freeport Expressway Project
May 20, 2019, 8:52 pm
MANILA -- New expressway lanes, bridges and a tunnel will be constructed at the Subic Freeport Expressway (SFEX) to accommodate the growing number of vehicles going to and from Subic Bay Freeport Zone. This, as tollway operator NLEX Corporation signed an agreement for the PHP 1.6 billion SFEX… Read More
Telcos assure Huawei users of continued services despite US ban
May 20, 2019, 8:26 pm
MANILA -- Major telecommunication firms in the country assured Huawei smartphone users of continuing communication services despite efforts by the United States government to ban the products of the Chinese-based technology provider in countries worldwide due to cybersecurity concerns. In a… Read More
Alliance Global nets P6.5-B in Q1
May 20, 2019, 8:25 pm
MANILA -- Andrew Tan-led conglomerate Alliance Global Group, Inc. (AGI) delivered a 16-percent increase in profit during the first quarter of 2019, driven mainly by higher earnings of property development, liquor, and fast food business segments. In a disclosure to the local bourse on Monday, AGI… Read More
Local pump prices headed up this week
May 20, 2019, 8:05 pm
MANILA -- After back-to-back price rollbacks this month, pump prices are set to pivot in the opposite direction as local oil companies announced they will be raising prices once again in a bid to keep up with international crude price swings. Petron, PTT Philippines, Seaoil, Petro Gazz, and Flying… Read More
RRR cut buoys stocks, peso
May 20, 2019, 5:53 pm
MANILA -- The stock market extended its rally on Monday while the peso ended stronger after recently losing ground to the US dollar, as investors continue to be upbeat about the Monetary Board's decision to reduce banks' reserve requirements last week. The benchmark Philippine Stock Exchange index… Read More
NEDA pushes for speedy release of rice fund
May 20, 2019, 4:34 pm
MANILA -- The National Economic and Development Authority (NEDA) is urging the administration's leadership to immediately release the PHP10-billion Rice Competitiveness Enhancement Fund (RCEF) that aims to help modernize and boost the productivity of rice farmers. “It should be released… Read More
Human Academy, Magsaysay People Resources to put up language school
May 20, 2019, 4:01 pm
TOKYO -- Human Holdings Co., Ltd. and Human Academy Co., Ltd., based in Shinjuku, Tokyo, and Magsaysay People Resources Corporation of Manila recently agreed to set up a joint venture, the Magsaysay Human Language Institute Co., Ltd., in the Philippines. The new company will expand its business in… Read More
PH's overall BOP position posts $467-M surplus in April
May 20, 2019, 2:40 pm
MANILA -- The country’s overall balance of payments (BOP) position posted a surplus of USD467 million last April, a reversal of the USD270 million BOP deficit recorded in the same month last year, the Bangko Sentral ng Pilipinas (BSP) disclosed in a statement on Monday. Inflows in April stemmed… Read More
DMCI infra revenues up 74% in Q1
May 19, 2019, 8:39 pm
MANILA -- Premier construction firm DM Consunji, Inc. (DMCI) saw its revenues from infrastructure projects surge 74 percent from PHP883 million to more than PHP1.5 billion during the first quarter of the year.In a statement issued on Sunday, DMCI said its ongoing infrastructure projects include… Read More
Cebu power firm upgrades substation to meet growing demand
May 19, 2019, 6:42 pm
CEBU CITY -- The second largest electric utility in the country serving eight cities and municipalities in Metro Cebu has upgraded its northern town substation to meet the growing demand for electricity in the northern part of its franchise area. In a statement, Visayan Electric Co., Inc. (VECO)… Read More
4 departments to tackle ‘fake’ vinegar issue
May 19, 2019, 3:58 pm
MANILA -- Officials of the departments of agriculture, health, science and technology, and trade and industry are set to meet on Monday to address reports that “fake” vinegar products using the synthetic acetic acid are being sold in the market. Agriculture Secretary Emmanuel “Manny”… Read More
Livability, human space still vital amid fast-rising cities
May 18, 2019, 5:29 pm
MANILA – Livability and human space remain the key elements in building "smart cities" as people flock to the metropolis not just for work but also to have living spaces where they value proximity, convenience and a workplace conducive to productivity and cost-efficient humane space. These are… Read More
Metro cities must become ‘smart’ to avert urban decay
May 18, 2019, 10:56 am
MANILA -- Real estate developers, asset managers and land use consultants said Metro Manila cities could still avert urban decay if they gear up to become “smart cities” through technology, amid the surge of urban migration and traffic congestion. In a press conference at the CEO Forum Summit… Read More
Local stocks bounce back, peso remains lethargic
May 17, 2019, 10:16 pm
MANILA -- The Philippine Stock Exchange index (PSEi) ended its five-day slide and came back strong on Friday but the peso continued to lose ground to the US dollar as another trading week came to a close. The main equities gauge ended the week at 7,583.82 points, up by 1.45 percent or 108.66… Read More
Piñol orders stricter measures on entry of imported meat into PH
May 17, 2019, 9:52 pm
MANILA -- Agriculture Secretary Emmanuel “Manny” Piñol on Friday ordered quarantine officers of the Bureau of Animal Industry (BAI) to implement stricter measures on the entry of meat products, especially pork from Hong Kong, following the reported outbreak of the African Swine Fever (ASF) in… Read More
DOF, DOH chiefs back approval of Pacquiao's sin tax measure
May 17, 2019, 8:52 pm
MANILA -- Cabinet officials intensified their call to implement sin tax reforms, which is seen as the best way to generate the funds needed to realize goverenment's ambitious universal health care (UHC) program. This was stressed by Finance Secretary Carlos Dominguez and Health Secretary Francisco… Read More
PIDS papers on TRAIN committed 'sins of omission', DOF exec says
May 17, 2019, 8:50 pm
MANILA -- Two papers released by the Philippine Institute for Development Studies (PIDS) on the preliminary effects of the Tax Reform for Acceleration and Inclusion (TRAIN) Law have supposedly committed “sins of omission” in downplaying the impact of this game-changing reform by ignoring two… Read More
BSP cuts banks' reserve requirement ratio by 200 bps
May 16, 2019, 10:53 pm
MANILA -- Bangko Sentral ng Pilipinas’ (BSP) policy-making Monetary Board (MB) on Thursday cut by 200 basis points the reserve requirement ratio (RRR) of universal and commercial banks’ (U/KBs), down to 16 percent. The cut, a decision made during the Board’s regular meeting, came exactly one… Read More
