Business
DOE urged to review unbundling of fuel prices
May 7, 2019, 8:44 pm
MANILA -- Pilipinas Shell Petroleum Corporation is urging the Department of Energy (DOE) to review its proposed circular on the unbundling of petroleum prices. The circular was reportedly released as part of DOE's mandate to monitor price movements in petroleum products such as gasoline,… Read More
Easing inflation boosts local markets
May 7, 2019, 7:53 pm
MANILA -- Both the peso and the stock market recovered on Tuesday, as traders cheered data showing the country’s inflation easing to a 16-month low. The barometer Philippine Stock Exchange index (PSEi) gained 48.33 points, or 0.62 percent, to close at 7,910.63. The peso appreciated slightly to… Read More
Firms, not government, set prices: DTI
May 7, 2019, 7:50 pm
MANILA -- “The Philippines is under a free trade enterprise. Prices are set by companies, not by the government,” said Department of Trade and Industry (DTI) Secretary Ramon M. Lopez on the determination of prices of goods in the market. “For manufactured basic necessities and prime… Read More
D&L Industries’ profit hits P748-M in Q1
May 7, 2019, 5:43 pm
MANILA -- D&L Industries, manufacturer of food ingredients, plastics and oleochemicals, booked a one-percent increase in profit to PHP748 million in the first quarter of the year, on the back of its high-margin business. “Overtime, because when the economy is growing, you anticipate people are… Read More
Social mitigating measures still needed despite reduced inflation
May 7, 2019, 5:41 pm
MANILA -- The government remains watchful of any potential upticks in prices even as inflation eased to a 16-month low last month, the National Economic and Development Authority (NEDA) said Tuesday. Socioeconomic Planning Secretary and NEDA Director General Ernesto Pernia said government… Read More
TUCP seeks P386 wage hike in Central Visayas
May 7, 2019, 4:05 pm
MANILA -- The Trade Union Congress of the Philippines (TUCP) on Tuesday filed a wage increase petition with the Regional Tripartite Wages and Productivity Board-Region 7 (RTWPB-Region 7) seeking a PHP386 across-the-board increase for private sector workers in the region. TUCP President Raymond… Read More
BSP to monitor price movements despite inflation decline
May 7, 2019, 4:02 pm
MANILA -- Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said Tuesday they will continue to keep a close watch over price movements despite the significant deceleration in the country's inflation, to ensure that monetary policy remains supportive of growth. Inflation last April further… Read More
Lower inflation due to PRRD’s competence in managing economy
May 7, 2019, 3:17 pm
MANILA -- The easing of inflation rate in the country to three percent in April this year shows President Rodrigo Duterte’s competence in managing the Philippine economy, Malacañang said on Tuesday. Presidential Spokesperson Salvador Panelo issued the statement as he welcomed the Philippine… Read More
PH inflation slows to 3% in April
May 7, 2019, 10:32 am
MANILA -- The country's inflation rate eased to a 16-month low of 3 percent in April, from 3.3 percent in the previous month, the government reported on Tuesday. The Philippine Statistics Authority (PSA) attributed the decline mainly to the slower annual increase in the heavily-weighted food and… Read More
Local markets weighed down by worsening US-China trade dispute
May 6, 2019, 8:58 pm
MANILA -- The local stock barometer retreated while the peso weakened against the dollar on Monday amid the worsening trade war between the two giant economies, US and China. “The increase in tariffs by (President Donald) Trump certainly was a factor in pulling our market lower. An escalating… Read More
Globe eyes launch of 5G technology by June
May 6, 2019, 8:54 pm
MANILA -- The management of Globe Telecom expressed determination to deploy fifth generation (5G) technology in the country by June. This, as Globe is currently conducting its trial runs of the technology in areas outside Metro Manila, according to Chief Commercial Officer Alberto de Larrazabal.… Read More
Singaporean firm to invest USD2-B for fiber optic cables in PH
May 6, 2019, 8:33 pm
MANILA -- A Singapore-based network infrastructure firm will be investing around USD 2 billion to roll out fiber optic cables over the next ten years to further improve Internet services in the Philippines. In a statement on Monday, the Department of Information and Communications and Technology… Read More
Procurement process must include voice of farmers, fisherfolk: Piñol
May 6, 2019, 8:29 pm
MANILA -- Agriculture Secretary Emmanuel “Manny” Piñol on Monday announced that he will issue an administrative order changing the procurement process that must include the preference of farmers and fisherfolks. “As we start the celebration of the Farmers and Fisherfolks Month, let me make… Read More
PH aims for 'A' rating in 2 years
May 6, 2019, 6:17 pm
MANILA -- The Duterte administration has set its sights on getting an "A" rating in 2 years, and it intends to achieve this through the implementation of more reforms and infrastructure projects, Department of Finance (DOF) Secretary Carlos Dominguez III said on Monday. “This administration can… Read More
Piñol hails efforts to protect Visayan Sea
May 6, 2019, 4:38 pm
ROXAS CITY -- Agriculture Secretary Emmanuel “Manny” Piñol on Monday commended stakeholders in the just concluded seaborne law enforcement operations in the Visayan Sea. “I commend the men and women of the Department of Agriculture’s Bureau of Fisheries and Aquatic Resources (DA-BFAR),… Read More
Globe’s core income up 40% in Q1
May 6, 2019, 4:25 pm
MANILA -- The management of Globe Telecom announced that the company's core income has increased 40 percent to PHP 6.73 billion in the first quarter of 2019 compared to only PHP 4.8 billion during the same period last year, driven by strong subscriber demand for data-related services. In a press… Read More
Oil firms to roll back pump prices after successive hikes
May 6, 2019, 3:45 pm
MANILA -- Following an almost unbroken chain of weekly price increases, local pump prices seemed to taper down again as world crude prices settle back to more consumer-friendly levels, at least for now. PTT Philippines is the latest oil firm to announce plans to slash prices of its products, to… Read More
BFAR wraps up month-long patrol operation in Visayan Sea
May 6, 2019, 3:43 pm
ROXAS CITY, Capiz -- The Department of Agriculture’s Bureau of Fisheries and Aquatic Resources (DA-BFAR) on Monday capped off its month-long seaborne patrol operation in the Visayan Sea in a culmination ceremony at Culasi Port in Roxas City, Capiz. The month-long operation resulted in the… Read More
Laban Konsyumer urges DTI to rollback SRPs
May 6, 2019, 2:27 pm
MANILA -- Laban Konsyumer, Inc. (LKI), a group championing consumers' rights, urged the Department of Trade and Industry (DTI) to implement a rollback in the Suggested Retail Prices (SRPs) of basic commodities in light of the country's declining inflation during the first four months of the… Read More
NegOcc showcased as tourism, investment site in Australia forum
May 6, 2019, 8:39 am
BACOLOD CITY -- Negros Occidental was showcased as a potential tourism and investment destination in the just-concluded Regional Australia-Asia Chambers Forum held in Darwin City, Northern Territory, Australia. Gov. Alfredo Marañon Jr., who led the province’s delegation during the event held on… Read More
