Business
PH forest product exports up in Q1 2019: PSA
May 12, 2019, 12:11 pm
MANILA -- The country’s January to March’s free-on-board receipts for forest product exports increased further this year, according to the latest data of the Philippine Statistics Authority (PSA). The 2019 first quarter export receipts, according to the PSA, totaled USD84.17 million to exceed… Read More
NPC probing possible voters' data breach
May 10, 2019, 8:39 pm
MANILA -- The National Privacy Commission (NPC) is looking into social media reports alleging that some candidates running for the midterm elections were able to access personal information of voters without their consent. “It has come to our attention that some individuals posted on social… Read More
Banks assure uninterrupted 'E-banking' services on May 13
May 10, 2019, 7:29 pm
MANILA -- At least three domestic banks have assured their clients of the availability of their digital platforms on Election Day on Monday, which Malacañang declared as a special non-working holiday. In an advisory, the management of UCPB said all its branches nationwide will be closed on Monday… Read More
DOE assures adequate power supply until election day
May 10, 2019, 7:23 pm
MANILA -- Top officials of the Department of Energy (DOE) assured the availability of sufficient electricity on Election Day on Monday (May 13), adding that measures are already in place to prevent any unscheduled power outages that may disrupt the voting, as well as counting processes. Energy… Read More
Public utility firms assure readiness for midterm polls
May 10, 2019, 6:59 pm
MANILA -- Various public utility firms are ready to ensure the successful and orderly conduct of the midterm elections on Monday. In a statement on Friday, Globe Telecom said it has optimized its network to ensure swift transmission of election data. “All SIM cards provisioned for election use… Read More
January-April business registration in NegOcc up almost 66%
May 10, 2019, 6:58 pm
BACOLOD CITY -- Total number of businesses registered with the Department of Trade and Industry (DTI) in Negros Occidental increased by almost 66 percent in the first four months of 2019. Records showed that 9,498 businesses in the province were listed from January to April this year, from only… Read More
Peso recovers but PSEi succumbs to US-China trade jitters
May 10, 2019, 5:20 pm
MANILA – Concerns over the seemingly fruitless US-China trade talks continue to worry investors and resulted in the negative close of the Philippine Stock Exchange index (PSEi), but the peso managed to stage a comeback on Friday. PSEi ended the week down by 0.17 percent, or 13.42 points, to… Read More
BOC-Cebu posts surplus collection despite challenges
May 10, 2019, 2:55 pm
CEBU CITY – The Bureau of Customs–Port of Cebu is confident of further boosting its revenue collection this month even amid the challenges its administration is facing. This, as it reported a surplus collection in the amount of PHP11.783 million in its April collection performance. BOC-Cebu… Read More
PTT Philippines sets P500-M capex for 2019
May 10, 2019, 2:04 pm
MANILA -- PTT Philippines has allocated PHP500 million for capital expenditures this year to help finance the opening of an additional 30 gas stations, among other expansion plans. In a briefing Thursday, newly-appointed PTT Philippines President and CEO Thitiroj Rergsumran said they plan to have… Read More
Palace confident of achieving 2019 GDP growth target
May 10, 2019, 12:32 pm
MANILA -- Malacañang on Thursday night expressed confidence that the target gross domestic product (GDP) growth rate for 2019 will be achieved. "President Rodrigo Roa Duterte and the Cabinet have been thoroughly briefed and apprised by our economic managers on the situation, and the Palace… Read More
PLDT eyes redevelopment of main offices
May 9, 2019, 9:05 pm
MANILA -- The management of PLDT Inc. is eyeing to redevelop the company's headquarters in Makati City into more modern office towers. PLDT Chairman and Chief Executive Officer Manuel V. Pangilinan said he is set to meet with Japanese partner NTT Group next week to discuss the redevelopment of the… Read More
BSP adjusts 2019-2020 inflation projections
May 9, 2019, 8:57 pm
MANILA -- The Bangko Sentral ng Pilipinas’ (BSP) policy-making Monetary Board (MB) on Thursday adjusted the central bank’s average inflation projections for the 2019-2020 period primarily on oil price considerations. In a briefing, BSP Deputy Governor Diwa Guinigundo said that from three… Read More
Local markets weaken on lower-than-expected GDP growth
May 9, 2019, 8:52 pm
MANILA -- Both the Philippine Stock Exchange index (PSEi) and the peso weakened Thursday after the release of the lower-than-expected growth of the Philippine economy in the first quarter of 2019 and negative developments in US-China trade talks. PSEi fell 2.16 percent, or 171.07 points, to… Read More
PH on track to hit export target: DTI
May 9, 2019, 8:06 pm
MANILA -- The Department of Trade and Industry (DTI) remains confident it is still on track to attain export targets of USD122 billion to USD130 billion by 2022, even after merchandise export performance declined by 3.1 percent in the first quarter this year. “We expect a positive growth… Read More
BSP cuts rates due to slower growth, inflation
May 9, 2019, 7:33 pm
MANILA -- Philippine monetary officials on Thursday cut by 25 basis points the Bangko Sentral ng Pilipinas’ (BSP) key rates in response to the budget impasse' projected effect on domestic growth and the continued deceleration of inflation. The cut, which will take effect starting May 10, 2019,… Read More
Taiwanese firms to invest in Subic
May 9, 2019, 7:32 pm
SUBIC BAY FREEPORT – Eight Taiwan-based companies have expressed their interest to invest in this premier freeport. Subic Bay Metropolitan Authority (SBMA) chairperson and administrator Wilma T. Eisma said Thursday this was the result of her presentation of the investment and business… Read More
PLDT’s core income up 6% in Q1
May 9, 2019, 7:10 pm
MANILA -- The core income of PLDT, Inc. has increased by 6 percent to PHP7.2 billion in the first quarter of 2019 from only PHP 6.8 billion posted during the same period last year, driven by increasing revenues from its data and broadband services. The top management of PLDT disclosed in a press… Read More
6-7% growth still achievable: Pernia
May 9, 2019, 6:35 pm
MANILA -- The country’s chief economist on Thursday expressed optimism that the Philippine economy will continue to grow aggressively in the remainder of the year, even after the re-enacted budget slowed growth in January to March. Socioeconomic Planning Secretary Ernesto Pernia said gross… Read More
Economist expects BSP to hold rates, but cut RRR by 100 bps
May 9, 2019, 5:00 pm
MANILA -- A respected economist forecasts 100 basis points reduction in Philippine banks’ reserve requirement ratio (RRR) Thursday due to the weaker-than-expected growth in the first quarter this year. Regina Capital Managing Director Luis Limlingan, however, discounts any adjustment in the… Read More
Taxpayers reap P111.7-B windfall from income tax cuts: DOF
May 9, 2019, 4:21 pm
MANILA -- Filipino taxpayers have reaped a cash bonanza of PHP111.7 billion in personal income tax (PIT) cuts in 2018 with the implementation of the Tax Reform for Acceleration and Inclusion (TRAIN) Law, the first package of the Duterte administration's Comprehensive Tax Reform Program (CTRP), the… Read More
