Business
Economic slowdown due to 2019 budget delay
May 9, 2019, 4:11 pm
MANILA -- Senator Panfilo Lacson on Thursday admitted that Congress could be at fault for the economic slowdown in the first quarter of this year due to the delayed passage of the 2019 national budget. Lacson made the remark after the government reported that the gross domestic product (GDP)… Read More
Manila Water posts lower net income in Q1 2019
May 9, 2019, 3:40 pm
MANILA -- Manila Water posted an earning of PHP1.23 billion for the first quarter of 2019 which is 27 percent lower compared to the same period last year, a company official bared Thursday. “The slowdown was mainly due to the impact of the water supply shortage in its Manila concession… Read More
PH economy grows 5.6% in Q1
May 9, 2019, 12:08 pm
MANILA -- The Philippine economy expanded by 5.6 percent in the first quarter of 2019, slower than the 6.5 percent growth recorded during the same period last year, the government reported on Thursday. “As we have forewarned repeatedly, the re-enacted budget would sharply slow the pace of our… Read More
SEC registers country's first one person corporation
May 8, 2019, 8:56 pm
MANILA -- The Securities and Exchange Commission (SEC) recently approved the registration of the first one person corporation (OPC) organized under Republic Act No. 11232, or the Revised Corporation Code of the Philippines. Smart Transportation and Solutions OPC received its certificate of… Read More
TUCP welcomes easing of inflation in PH
May 8, 2019, 8:45 pm
MANILA -- The Trade Union Congress of the Philippines (TUCP) said it welcomes the easing rate of inflation in the country after it has slowed down to 3 percent last April. The labor group, however said it would prefer that the inflation goes down further after the election period. “It is good to… Read More
PSEi up, peso slides in midweek trading
May 8, 2019, 8:37 pm
MANILA -- The Philippine Stock Exchange index (PSEi) ended Wednesday up while the peso weakened as investors took profits on earlier gains. The main equities gauge rose 0.20 percent, or 16.06 points, to 7,926.69 points. On the other hand, All Shares declined by 0.20 percent, or 9.57 points, to… Read More
PH credit rating upgrade result of 'game-changing' reforms
May 8, 2019, 8:23 pm
MANILA -- The Philippines’ credit rating upgrade to “BBB+” is a result of President Rodrigo Duterte’s decision to invest his political capital wisely in “difficult but game-changing reforms”, Finance Secretary Carlos Dominguez III said on Wednesday. Dominguez said reforms such as the… Read More
BFAR to develop 300 fish cages in every region
May 8, 2019, 8:10 pm
MANILA -- The Bureau of Fisheries and Aquatic Resources (BFAR), which is under the Department of Agriculture (DA), will establish 300 fish cages in every region of the country to boost fish production and attain food sustainability. This was bared by BFAR Assistant Director for Technical Services… Read More
Gov’t eyes roadmap to systemize PH pursuit of ‘A’ credit rating
May 8, 2019, 8:08 pm
MANILA -- A roadmap is being eyed to “articulate and systemize” the Philippines’ active pursuit of an ‘A’ level credit rating, a central bank official said on Wednesday. Bangko Sentral ng Pilipinas (BSP) Deputy Governor Diwa Guinigundo made this remark after Standard and Poor’s (S&P)… Read More
MIAA mulls banning white taxis permanently; starts at NAIA Terminal 1
May 8, 2019, 7:34 pm
MANILA -- The Manila International Airport Authority (MIAA) is considering permanently banning all white taxis at the Ninoy Aquino International Airport (NAIA), executives said Wednesday. This came after another incident involving an erring taxi driver surfaced online. The driver allegedly… Read More
PNB prexy eyes more investments after PH credit rating upgrade
May 8, 2019, 7:25 pm
MANILA -- More foreign investments are expected to flow into the Philippine economy as a result of the recent upgrade of its investment grade credit rating. Philippine National Bank (PNB) President and CEO Jose Arnulfo A. Veloso said the country’s credit rating upgrade by S&P Global Ratings to… Read More
Agricultural output grows 0.67% in Q1
May 8, 2019, 6:57 pm
MANILA -- The output of the country's agriculture sector recorded minimal growth at 0.67 percent in the first quarter of 2019, according to data released by the Philippine Statistics Authority (PSA). Production increases were noted for livestock, poultry and fisheries during the period. On the… Read More
Grab suspends cancellation, no-show fees
May 8, 2019, 6:49 pm
MANILA -- Ridesharing firm Grab Philippines announced on Wednesday that it has suspended the implementation of its cancellation and no-show fees pending review by the Land Transportation Franchising and Regulatory Board (LTFRB). “Grab and the other TNCs (transportation network companies) agreed… Read More
Protect interests of Filipino biz owners, consumers: solon
May 8, 2019, 5:25 pm
MANILA -- Senator Sherwin Gatchalian on Wednesday said foreign-owned businesses and enterprises that violate the country’s laws should be shut down to protect the interests of both Filipino consumers and business owners. Gatchalian reacting to reports that a restaurant in Alabang, Muntinlupa… Read More
Petron posts P124.6-B consolidated net revenue in Q1
May 8, 2019, 4:32 pm
MANILA -- Petron Corporation reported consolidated revenues of PHP124.6 billion in the first quarter of 2019, down 4 percent from the same period last year, the local oil giant's management disclosed in a statement on Wednesday. It was explained that this was due mainly to a 5 percent decline in… Read More
Senator urges BSP to cut rates amid inflation decline
May 8, 2019, 4:30 pm
MANILA -- Senator Sherwin Gatchalian on Wednesday urged the Bangko Sentral ng Pilipinas (BSP) to decrease its policy rate by 25 basis points to stimulate economic growth as the country's inflation eased to a 16-month low of 3 percent in April. Gatchalian, chair of the Senate Committee on Economic… Read More
Arroyo lauds PRRD’s economic team for inflation slowdown
May 8, 2019, 3:50 pm
MANILA -- Speaker Gloria Macapagal-Arroyo on Wednesday commended President Rodrigo Duterte’s economic managers for their decisive actions that has steadily eased Philippines' headline inflation, from a peak of 6.7 percent in October 2018 to just 3.0 percent in April this year. “Good.… Read More
LT Group sets P19-B capex for 2019
May 7, 2019, 9:12 pm
MANILA -- Conglomerate LT Group Inc. is hiking capital expenditures (capex) to PHP19 billion this year to ramp up the expansion of its businesses with an aim to deliver a double-digit growth. LTG President Michael Tan said this year’s capex include participation in Philippine National Bank’s… Read More
LRT Line 1 Cavite extension construction begins Tuesday
May 7, 2019, 9:05 pm
PARAÑAQUE CITY – After three administrations and two decades of waiting, the construction of the LRT Line 1 Cavite Extension, envisioned to provide a safe and efficient public transportation system between Cavite and Manila finally commenced on Tuesday, May 7. Department of Transportation… Read More
Shell to comply with fuel marking scheme
May 7, 2019, 8:46 pm
MANILA -- Top management of Pilipinas Shell Petroleum Corporation vowed to comply with the fuel marking scheme being introduced by the government to deter smuggling of fuel products into the country. Fuel marking which involves use of low concentrations of dyes to be blended with fuel in order to… Read More
