Business
Zambo electric coop seeks refunds worth P441-M before ERC
April 23, 2019, 8:59 pm
MANILA -- Power distribution firm Zamboanga City Electric Cooperative (ZAMCELCO) has filed a petition before the Energy Regulatory Commission (ERC) seeking a refund of allegedly overbilled costs amounting to around PHP 441 million for the purchase of electricity supply from the Western Mindanao… Read More
Employers vow to establish post-earthquake protocols
April 23, 2019, 6:36 pm
MANILA — The Employers’ Confederation of the Philippines (ECOP) on Tuesday said it will make the establishment of “post-earthquake safety protocols” a priority agenda when members convene for the National Conference of Employers (NCE) this May. ECOP Chair Emeritus Francis Chua, in a… Read More
PSEi down anew due to oil price upticks, quake fears
April 23, 2019, 6:20 pm
MANILA – The Philippine Stock Exchange index (PSEi) declined for the second day in a row Tuesday as investors await the release of latest damage reports from the 6.1 magnitude quake that hit Castillejos, Zambales and other parts of Luzon past 5pm Monday. PSEi contracted by 0.17 percent, or 13.50… Read More
TUCP hits employers who kept employees working after quake
April 23, 2019, 3:51 pm
MANILA -- The usually moderate Trade Union Congress of the Philippines (TUCP) on Tuesday called on employers to make sure that their office and factory buildings have been thoroughly inspected and found to be structurally sound, before letting their employees return to work. The TUCP, touted as… Read More
Business as usual for BSP on Tuesday
April 23, 2019, 1:03 pm
MANILA -- Clearing and settlement under the Philippine Payments and Settlement System (PhilPaSS), as well as the cash servicing operations of the Bangko Sentral ng Pilipinas (BSP), remain open Tuesday despite work suspension in government offices in the National Capital Region (NCR). In a… Read More
DTI intensifies price monitoring in quake-hit areas
April 23, 2019, 10:52 am
MANILA – Trade and Industry Secretary Ramon Lopez has directed intensified price monitoring in Luzon areas hit by Monday's 6.1 magnitude earthquake. In a message to reporters, Lopez said he has given Department of Trade and Industry (DTI) personnel in the National Capital Region (NCR) and the… Read More
Petron denies fire in Bataan refinery after quake
April 22, 2019, 9:26 pm
MANILA -- Petron Corporation denied reports saying a fire broke out in its refinery in Bataan following the 6.1 magnitude earthquake that hit parts of Luzon past 5 pm Monday In a statement, the company said "the recent strong earthquake that hit Central Luzon triggered the protective tripping of… Read More
NGCP monitoring transmission facilities after Luzon quake
April 22, 2019, 9:13 pm
MANILA -- The National Grid Corporation of the Philippines (NGCP) has intensified its monitoring of transmission facilities following the earthquake that shook a wide area of Luzon, causing power outages in some provinces. In an advisory, the grid operator said it has activated a 24/7 monitoring… Read More
Local stocks decline, peso starts trading week flat
April 22, 2019, 8:59 pm
MANILA -- The Philippine Stock Exchange index (PSEi) ended the week's first trading day in the red, at 7,832.43 points, down 0.03 percent or 2.72 points. All Shares followed with a 0.04 percent, or 2 points, declined to 4,834.68 points. Most of the sectors also tracked the main index led by Mining… Read More
DOE activates energy resiliency TF after earthquake hits Luzon
April 22, 2019, 8:24 pm
MANILA -- The Department of Energy (DOE) has activated the Task Force Energy Resiliency (TFER) after a 6.1 magnitude earthquake hit parts of Luzon past 5 pm Monday. Citing a report from the National Grid Corporation of the Philippines (NGCP), the energy department said in a statement that power… Read More
Aboitiz Power welcomes probe on alleged collusion in power sector
April 22, 2019, 5:05 pm
MANILA – The top management of Aboitiz Power Corporation (AP) welcomed an investigation by the Philippine Competition Commission (PCC) on alleged collusion among power industry players to jack up electricity prices. In a briefing after the annual stockholders meeting of Aboitiz Equity Ventures… Read More
PCC seeks own probe on Luzon power outages
April 22, 2019, 4:39 pm
MANILA -- The Philippine Competition Commission (PCC) announced that it will investigate allegations of collusion or abuse of dominance among energy companies that led to the recent series of power outages in Luzon. In a statement on Monday, the PCC said it will assess whether the recent power… Read More
Minimal hike in gasoline prices set Tuesday
April 22, 2019, 4:01 pm
MANILA -- Private motorists will bear the brunt of this week's adjustment in pump prices as local oil firms get set to implement a hike in the price of unleaded gasoline. However, their disappointment is likely to be tempered by a sigh of relief when they realize that this price increase is a… Read More
Now is the best time to invest in Asia's 'next powerhouse'
April 22, 2019, 3:20 pm
WASHINGTON, DC -- Finance Secretary Carlos Dominguez III told leaders of the American business community that now is the "best time" for them to invest more in the Philippines so they could maximize the benefits of participating in a robust economy poised to become Asia’s next economic… Read More
1st BFA confab in PH slated April 22-23
April 22, 2019, 12:14 am
MANILA – The BOAO Forum for Asia (BFA) will hold its first conference n the Philippines on April 22-23 in cooperation with the Federation of Filipino Chinese Chamber of Commerce and Industry, Inc. (FFCCCII) and Philippine Chamber of Commerce and Industry (PCCI). The forum, which was… Read More
Local stocks rise anew, peso ends flat
April 17, 2019, 8:17 pm
MANILA -- Philippine shares ended the abbreviated trading week generally higher while the peso finished flat against the greenback. The Philippine Stock Exchange index (PSEi) rose for the second day in row and ended the trade at 7,835.15 points, up 0.11 percent or 8.69 points. BPI Research, in a… Read More
Gov'ts urged to enhance coordination vs. terror financing
April 17, 2019, 8:00 pm
MANILA -- Measures to institutionalize tie-ups with other governments and foreign tax institutions vis-à-vis funding for terrorism show the Philippines’ resolve to fight international terrorism. Finance Secretary Carlos Dominguez III, in a recent statement, raised the need for governments to… Read More
Be alert vs. cyber attacks during Lenten break: NPC
April 17, 2019, 7:59 pm
MANILA -- The National Privacy Commission (NPC) reminded public and private offices to be vigilant against hackers and thieves during the Holy Week break. In a statement on Wednesday, Privacy Commissioner Raymund Liboro said personal information controllers (PICs), personal information processors… Read More
Power outages in Luzon grid unlikely as more power plants resume ops
April 17, 2019, 7:15 pm
MANILA -- The Department of Energy (DOE) said on Wednesday that the likelihood of power outages occurring within the Luzon grid has dropped significantly after some power plants that have recently been plagued by technical issues are brought back into service. However, data released by the DOE… Read More
7-day TDF rate down
April 17, 2019, 5:56 pm
MANILA -- The rate of Bangko Sentral ng Pilipinas’ (BSP) seven-day term facility declined Wednesday amid high demand, as this was the only tenor offered on this shortened trading week. Data released by the BSP showed that the rate of the seven-day Term Deposit Facility (TDF) went down to 4.7764… Read More
