Business
Davao Region 2nd fastest growing economy in 2018
April 25, 2019, 7:46 pm
DAVAO CITY -- Davao Region (Region 11) has posted an 8.6 percent growth in 2018, maintaining its position as the second fastest growing economy among the 17 regions across the country.But while the economy is good, the National Economic Development Authority (NEDA) said the region’s growth rate… Read More
Bacolod, Iloilo dropped from list of top 100 outsourcing sites
April 25, 2019, 7:23 pm
BACOLOD CITY -- The two highly-urbanized cities in Western Visayas -- Bacolod and Iloilo -- have been excluded from the 2019 Top 100 Super Cities list of global consulting firm Tholons International. The annual Tholons Services Globalization Index (TSGI) is the leading touchstone to benchmark the… Read More
Retailers, bakers open to price freeze in quake-hit areas
April 25, 2019, 7:15 pm
MANILA – The Philippine Amalgated Supermarkets Association (PAGASA) will fully support a price freeze on basic commodities in earthquake-affected areas if the government calls for it. In a telephone interview with the Philippine News Agency (PNA) on Thursday, PAGASA president, Steve Cua, vowed… Read More
Bangsamoro region posts 7.2 percent GRDP growth in 2018
April 25, 2019, 6:55 pm
COTABATO CITY -- The Autonomous Region in Muslim Mindanao (ARMM), which now make up the core territory of the Bangsamoro Autonomous Region, posted a 7.2-percent growth rate in its Gross Regional Domestic Product (GRDP) for the year 2018.The latest economic data was announced by the Philippine… Read More
BPI execs eye higher income in 2019, allot P6-B for capex
April 25, 2019, 6:50 pm
MANILA -- Bank of the Philippine Island (BPI) President and Chief Executive Officer (CEO) Cezar Consing is optimistic the Ayala-led financial institution will post higher income year-on-year in 2019 after a 7.6 percent growth in net income in the first quarter of the year. In a briefing Thursday,… Read More
Treasury chief mum on details of planned Euro bond offer
April 25, 2019, 5:24 pm
MANILA -- Philippine authorities have announced the list of foreign banks tapped as coordinators and bookrunners for its planned Euro bond offering but National Treasurer Rosalia de Leon remains mum on additional details. “Cannot disclose yet. Have to see market appetite,” she said. News… Read More
NAIA Consortium submits rehab offer ahead of deadline
April 25, 2019, 4:57 pm
MANILA -- The NAIA Consortium has submitted its rehabilitation proposal ahead of the April 30 deadline set by the Department of Transportation (DOTr) to rehabilitate the Ninoy Aquino International Airport (NAIA), an official said on Thursday. “They submitted the proposal at 7:30 p.m. of April… Read More
Eastern Visayas economy posts 5.9% growth in 2018
April 25, 2019, 4:02 pm
TACLOBAN CITY -- The economy of Eastern Visayas grew by 5.9 percent in 2018 due to accelerated performance of services sector, but officials said many residents in the region may not have felt the economic impact as farming sector’s growth continued to dip last year. Philippine Statistics… Read More
Cebu Pacific's GetGo app server gets hacked
April 25, 2019, 3:52 pm
MANILA -- Local carrier Cebu Pacific's (CEB) GetGo application server was hacked, and has been temporarily disabled, the management confirmed on Thursday. GetGo is CEB's rewards program, wherein purchases and flights let customers earn points that can be used for flights. "The hack was… Read More
TUCP seeks mandatory disaster protocols for employees' safety
April 25, 2019, 2:52 pm
MANILA -- It is high time to set mandatory workplace emergency protocol standards for rank-and-file workers in light of scores of employers who refused to evacuate their employees and maintained a business as usual attitude in the immediate aftermath of the earthquake last Monday, leaders of the… Read More
DMCI Homes website bags gold in 6th Asia-Pacific Stevie Awards
April 25, 2019, 12:51 pm
MANILA -- Premier Quadruple A developer DMCI Homes has gained international recognition for its innovative website, www.dmcihomes.com, winning the Gold Award in the Innovation in Business Information or Application Websites category of the sixth annual Asia-Pacific Stevie® Awards. The… Read More
BRI to help close infra investment gaps: World Bank
April 25, 2019, 11:31 am
BEIJING -- The Belt and Road Initiative (BRI) is expected to help in closing investment gaps in infrastructure sector in low- and middle-income countries, World Bank Chief Executive Officer Kristalina Georgieva said here Thursday. During the Financial Connectivity Meeting of the 2nd Belt and Road… Read More
Fitch Ratings eyes stabilization of PH budget deficit
April 24, 2019, 8:46 pm
MANILA -- Fitch Ratings forecasts stabilization of the Philippine government’s budget gap at 3.2 percent of domestic output this 2019. In 2018, the government slightly surpassed its budget deficit cap of three percent of gross domestic product (GDP) after it reached 3.2 percent due to an… Read More
CEB cancels 24 domestic flights due to 'operational limitations'
April 24, 2019, 7:40 pm
MANILA -- Local carrier Cebu Pacific (CEB) on Wednesday afternoon announced the cancellation of several domestic flights "due to operational limitations." These flights were: 5J639/5J640 Manila-Puerto Princesa-Manila5J479/5J480 Manila-Bacolod-Manila5J653/5J654… Read More
PAL to resume flights to/from Clark April 25
April 24, 2019, 7:37 pm
MANILA -- Flag carrier Philippine Airlines (PAL) on Wednesday announced it would resume flights to and from Clark International Airport on Thursday. Clark Airport has been closed since Monday after sustaining damages from the magnitude 6.1 earthquake that jolted Luzon that day. Authorities… Read More
PSEi recovers, peso loses due to positive US earnings report
April 24, 2019, 7:22 pm
MANILA – The Philippines' main equities gauge recovered Wednesday after a two-day slide but the peso weakened due to positive earnings posted by US companies. The Philippine Stock Exchange index (PSEi) gained 0.36 percent, or 28.06 points, to 7,846.99 points. All Shares trailed after ending the… Read More
TDF rates down, ample liquidity in system cited
April 24, 2019, 6:36 pm
MANILA -- The rates of Bangko Sentral ng Pilipinas’ (BSP) term facilities declined anew Wednesday. The average rate of the seven-day Term Deposit Facility (TDF) went down to 4.7567 percent from 4.7764 percent during the auction last April 17. BSP offered it for PHP10 billion and banks submitted… Read More
Economist urges PH to update poverty threshold
April 24, 2019, 5:30 pm
MANILA -- An economist of the World Bank (WB) is urging the Philippine government to update its poverty threshold in order to present a more realistic view of the country's poverty situation. The Philippines must consider setting a multidimensional poverty measure that will not only take into… Read More
BSP releases 1st tranche of National Payment Systems Act IRR
April 24, 2019, 1:23 pm
MANILA -- The Bangko Sentral ng Pilipinas (BSP) released the draft circular providing for the implementing rules and regulations (IRR) of Republic Act 11127 or the National Payment Systems Act (NPSA), a landmark legislation that supports the BSP's mandate relating to the third pillar of central… Read More
Authorities remind bizmen of price freeze in Pampanga’s 2nd District
April 24, 2019, 8:50 am
MANILA – The prices of oil products in the Second District of Pampanga should not increase, at least in the next 15 days, now that the area has been declared under State of Calamity following the 6.1 magnitude earthquake that hit parts of Luzon late Monday afternoon. This was stressed by Energy… Read More
