Business
MICP hits April 2019 revenue target
May 5, 2019, 6:16 pm
MANILA -- The largest collection district of the Bureau of Customs (BOC) reached its collection target for April 2019. Based on preliminary data, the Manila International Container Port (MICP) collected a total of PHP13.8 billion last month against its PHP13.6-billion target. It added the Port… Read More
SSS chief vows to work for OFWs' pension coverage
May 3, 2019, 8:44 pm
MANILA -- Social Security System (SSS) President and Chief Executive Officer (CEO) Aurora C. Ignacio assured Overseas Filipino Workers (OFWs) that her office continues to work with other government agencies help to bring about the compulsory coverage of the migrant worker sector, assuring their… Read More
Peso ends week sideways, local shares slide below 8,000-level
May 3, 2019, 8:00 pm
MANILA -- The Philippine peso ended the week sideways against the US dollar while the Philippine Stock Exchange index (PSEi) ended its three-day rally after investors decided to cash in on recent gains. The local unit ended Friday at 51.85 from day-ago’s 51.87, which a trader attributed to a… Read More
Swiss-Belhotel expands in PH; partners with PAL
May 3, 2019, 6:57 pm
MANILA -- Global hospitality management chain, Swiss-Belhotel International is expanding in the Philippines, and will open a luxury resort in Davao by 2022. In an interview with the Philippine News Agency (PNA) on Friday, Swiss-Belhotel chairman, Gavin Faull, said Filipinos are the best in… Read More
Aboitiz Group posts P3.5-B net income in Q1
May 3, 2019, 2:57 pm
CEBU CITY -- Aboitiz Equity Ventures (AEV) registered a consolidated net income of PHP3.5 billion for the first quarter of 2019, the company's management disclosed in a statement on Friday. Accordingly, this represents a 27 percent decrease from the PHP4.8 billion net income posted by the Aboitiz… Read More
Local markets rise after PH's ratings upgrade
May 2, 2019, 8:24 pm
MANILA -- Both the Philippine peso and the Philippine Stock Exchange index (PSEi) resumed trading on a high note Thursday, two days after S&P Global Ratings' unprecedented upgrade of the country’s investment grade rating to ‘BBB+” with Stable outlook. The local currency finished the day at… Read More
AIA investing P3-B to hire more Philam financial advisors
May 2, 2019, 8:15 pm
MANILA -- AIA Group Limited, through its subsidiary Philam Life, is allocating PHP3 billion over the next three years to hire additional full-time professional advisors to help address the Philippines’ protection gap. In a briefing Thursday, Philam Life Chief Executive Officer Kelvin Ang said… Read More
Metro Pacific core profit hits P3.66-B in Q1
May 2, 2019, 6:40 pm
MANILA -- Infrastructure conglomerate Metro Pacific Investments Corp. (MPIC) said on Thursday that its first-quarter core net income ended little changed compared to the same period last year, driven by expansion across its businesses. In a press briefing, MPIC President and Chief Executive… Read More
TESDA, Firefly join hands to empower future electricians
May 2, 2019, 6:33 pm
MANILA -- The Technical Education and Skills Development Authority (TESDA) on Thursday signed a memorandum of agreement with Firefly Electric and Lighting Corporation (FELCO), aimed at empowering Electrical Installation and Maintenance National Certificate (EIM NC) II program enrollees. Through… Read More
MIAA chief asks OTS to designate queuing officers at NAIA
May 2, 2019, 6:30 pm
MANILA -- Manila International Airport Authority (MIAA) General Manager Ed Monreal on Thursday asked the Office of Transportation Security (OTS) to designate queuing officers in screening checkpoints of all terminals of the Ninoy Aquino International Airport (NAIA). The request came after… Read More
Reduced irrigation water won't affect agri production
May 2, 2019, 6:15 pm
MANILA -- The reduced volume of irrigation water to be released from Angat Dam is not expected to negatively affect agricultural productivity, the Department of Agriculture (DA) said on Thursday. The National Water Resource Board (NWRB) earlier announced that they may reduce the volume of water to… Read More
TDF rates down this week
May 2, 2019, 5:46 pm
MANILA -- The rates of both 6-day and 13-day Term Deposit Facilities (TDF) of the Bangko Sentral ng Pilipinas (BSP) declined Thursday, sustaining its downtrend spanning several weeks now. Data released by the BSP showed that rate of the six-day facility, a day short of the regular seven-day… Read More
PH mulls exporting pork to China
May 2, 2019, 5:45 pm
MANILA -- The Philippines is eyeing the export of pork to China, which is currently beset with an outbreak of African Swine Fever (ASF) that has reportedly resulted in the loss of roughly 50 percent of its hog population. "We are seriously looking at the possibility of exporting pork to China… Read More
Petron rolls back LPG prices Wednesday
May 2, 2019, 3:21 pm
MANILA -- The country's biggest oil company rolled back the price of its Liquefied Petroleum Gas (LPG) products on Wednesday, Labor Day, one day after prices of liquid fuels went up moderately. In an advisory, Petron Corporation announced a PHP0.20 per kilo decrease in LPG, which translates into a… Read More
PRRD's economic team hailed for latest PH credit rating upgrade
May 2, 2019, 2:57 pm
MANILA -- Malacañang on Thursday hailed President Rodrigo Duterte’s economic team for the upgrade by Standard and Poor (S&P) of Philippines’ investment grade credit rating to ‘BBB+’, the highest credit rating in the country's economic history conferred by the respected economic think… Read More
Economist cites factors for PH’s ratings upgrade
May 2, 2019, 7:35 am
MANILA – The upgrade of the Philippines’ investment grade credit rating to ‘BBB+’ with Stable outlook may be an indication that investments will be a regular major growth driver of the economy. This was pointed out by ING Bank Manila senior economist Nicholas Mapa after S&P upgraded its… Read More
FMIC eyes better output for PH this 2019
May 2, 2019, 7:26 am
MANILA -- First Metro Investment Corporation (FMIC) forecasts better year-on-year output for the Philippine economy in the first quarter of 2019, which would allow it to post a full year growth of between 6.8 to 7.2 percent. In its joint publication with the University of Asia and the Pacific… Read More
Piñol urges rice traders to do 'business with social conscience'
May 1, 2019, 5:16 pm
MANILA -- While importing rice is now liberalized with the enactment of Republic Act No. 11203, Agriculture Secretary Emmanuel Piñol is urging rice traders and importers to be conscious of the supply situation in the market so that there will be no oversupply of the staple food. In his speech,… Read More
HK-based firm sees high gold demand in PH
April 30, 2019, 8:06 pm
MANILA -- Hong Kong-based company J. Rotbart & Co. expects an increasing demand for gold in the Philippines, comprising almost a fourth of its global portfolio, as more Filipinos opt for new investments amid robust economic growth. Joshua Rotbart, founder and managing partner of J. Rotbart & Co.,… Read More
S&P upgrade of PH rating due to PRRD's 10-point agenda: Dominguez
April 30, 2019, 7:36 pm
MANILA -- Finance Secretary Carlos Dominguez III on Tuesday attributed to President Rodrigo R. Duterte’s leadership the upgrade by Standard and Poor (S&P) of Philippines’ investment grade credit rating to ‘BBB+’, a notch away from A-level, with Stable outlook. PH economy among fastest… Read More
