Business
AirAsia Philippines eyes Beijing route
April 30, 2019, 6:50 pm
MANILA -- As China would open a new international airport in Beijing this year, AirAsia Philippines is now eyeing to service the route, an executive told the Philippine News Agency (PNA) on Tuesday. "We'd like to fly there, but we still need to get slots from Beijing and Manila," said Dexter… Read More
Oman Air tapped to widen reach, maximize e-commerce of Red Cargo
April 30, 2019, 6:30 pm
MANILA -- To widen its reach and maximize e-commerce in the region, AirAsia's RedCargo Logistics has signed an interline agreement with Oman's flag carrier, Oman Air. RedCargo Logistics chief executive office Pete Chareonwongsak told the Philippine News Agency (PNA) on Tuesday that the interline… Read More
BSP eyes April inflation between 2.7-3.5%
April 30, 2019, 5:31 pm
MANILA -- Higher domestic fuel and electricity prices are seen as upside risks to the country's April 2019 inflation, which is projected to stay between 2.7-3.5 percent. “However, these pressures may be partly offset by the continued decline in rice prices and by the peso appreciation,” the… Read More
PNB to acquire bank to boost consumer finance biz
April 30, 2019, 5:17 pm
MANILA – The Tan-led Philippine National Bank (PNB) targets to acquire a bank to further strengthen its consumer finance. In a briefing Tuesday, PNB president and chief executive officer Jose Arnulfo Veloso said they are on the lookout for a bank that “can bring PNB to the next level”,… Read More
Gov’t urged to expedite approval of power supply deals
April 30, 2019, 3:44 pm
MANILA -- The Manila Electric Company (Meralco) has urged the government to expedite the approval of its power supply deals amid the current energy shortage in Luzon. “The fact is even if all approvals are given to us or procured, it will not happen in the next two to three years. It takes a… Read More
FTI gets new lease of life; bares 5-year roadmap
April 30, 2019, 2:42 pm
MANILA -- What was supposed to be a government agency counting the days before its closure was renewed of its corporate life for another 50 years. Created on May 1968, the Food Terminal Inc. was tasked to uplift the agricultural economy of the country. Now under the Duterte Administration and… Read More
Calabarzon economy grows 7.3% in 2018, fastest in 6 years
April 30, 2019, 9:22 am
MALVAR, Batangas -- The economy of Calabarzon (Region 4A) grew at 7.3 percent in 2018, the fastest in six years, the Philippine Statistics Authority (PSA) reported. PSA-Calabarzon Regional Director Charito Armonia said the acceleration was brought about by the faster growth of Industry and… Read More
DOTr awards contract to DMCI Consortium for PNR North Phase 1 Project
April 30, 2019, 9:00 am
MANILA -- The Department of Transportation (DOTr) has awarded to the consortium of DMCI Holdings Inc. and a Japanese firm the Tutuban to Bocaue segment of the North-South Commuter Railway (NSCR) Project. The DOTr is set to sign a contract with the consortium for the local civil works contractor of… Read More
Wipro acquires Splash Corp., eyes export of personal care brands
April 29, 2019, 9:45 pm
MANILA -- Indian firm Wipro Consumer Care has fully acquired the stake of Ang-Hortaleza Corporation in the personal care business of Splash Corporation, optimistic about the Philippine market but with plans to bring the homegrown brand to the international scene. Splash is among the largest… Read More
Grab implements cancellation and no-show fees
April 29, 2019, 9:44 pm
MANILA -- Grab Philippines will be imposing a PHP 50 fee to passengers who will cancel their rides after five minutes of getting assigned a driver or those who did not show up at pick-up points within minutes of a driver’s arrival. The ridesharing firm explained that the new policy aims to… Read More
Gov’t eyeing targeted NFA rice distribution
April 29, 2019, 9:42 pm
MANILA – A ranking National Economic and Development Authority (NEDA) official said the government is currently evaluating a proposal to offer subsidized rice only in areas where it is badly needed. This, after Republic Act (RA) 11203, or the Rice Liberalization Act, removed the regulatory and… Read More
PH T-bill rates post mixed results
April 29, 2019, 9:41 pm
MANILA -- The rates of Philippine 92-day and 183-day Treasury bills (T-bills) declined Monday as the Bureau of the Treasury’s (BTr) auction committee made full awards for these tenors while making only a partial award for the one-year paper. Average rate of the bellwether three-month paper,… Read More
DTI sees rice prices declining further amid tariffication
April 29, 2019, 9:40 pm
MANILA -- Rice prices can go down to as low as PHP30 to PHP32 per kilo possibly this year as the new law easing rice import restrictions takes effect, the Department of Trade and Industry (DTI) said Monday. DTI Secretary Ramon Lopez is optimistic that rice prices can reach their lowest levels with… Read More
Government assures delivery of P10-B RCEF
April 29, 2019, 9:01 pm
MANILA -- Concerned government agencies including the Departments of Finance (DOF), Agriculture (DA), Trade and Industry (DTI), and the National Economic and Development Authority (NEDA) on Monday assured the availability of the PHP10-billion Rice Competitiveness Enhancement Fund (RCEF), which is… Read More
Local markets up on higher-than-expected US Q1 GDP
April 29, 2019, 8:51 pm
MANILA – The US economy's higher-than-expected expansion in the first quarter of 2019 boosted both the Philippine Stock Exchange index (PSEi) and the Philippine peso Monday, the start of another abbreviated trading week. The main equities index recovered and rose 0.37 percent, or 28.74 points,… Read More
23 Antique MSMEs showcase products in 'Pasundayag 2019'
April 29, 2019, 8:50 pm
SAN JOSE DE BUENAVISTA, Antique – A total of 23 micro, small and medium enterprises (MSMEs) are exhibiting various local products as part of the ongoing "Pasundayag 2019" here organized by the Department of Trade and Industry (DTI). Engr. Arlene Galopo of DTI-Antique said in an interview on… Read More
Online selling made easy for MSMEs
April 29, 2019, 8:38 pm
MANILA – Global e-commerce selling and logistics platform, Anchanto, launched Monday its "free forever" plan across Asia Pacific, except Indonesia and Korea, to boost the micro, small and medium enterprises' (MSMEs) e-commerce capabilities. Anchanto co-Founder, Chief Operations Officer (COO)… Read More
Korean Air beefs up digital transformation, cargo services
April 29, 2019, 6:12 pm
MANILA -- South Korean flag carrier, Korean Air (KE) announced that it is continuously beefing up its digital transformation, and has started to implement the iCargo, a next-generation system that is based on Cloud technology. "KE has been providing cargo services for almost 50 years now. The… Read More
Pump prices to rise anew Tuesday
April 29, 2019, 3:51 pm
MANILA -- The consuming public will be digging deeper into their pockets to fill their transportation needs after local oil companies announced a moderately substantial hike in the retail prices of petroleum products set to take effect 6 a.m. on Tuesday (April 30). In separate advisories,… Read More
Security Bank NAIA branches open on Labor Day
April 29, 2019, 2:36 pm
MANILA -- Security Bank Corporation (Security Bank) announced in an advisory on Monday that its branches at the Ninoy Aquino International Airport (NAIA) and NAIA 3 will be open for business during the Labor Day holiday on May 1. The company's operation at the country's main airport is reportedly… Read More
