Business
Overall BOP position posts $627-M surplus in March
April 17, 2019, 1:59 pm
MANILA -- The country's overall balance of payments (BOP) position posted a surplus of USD627 million in March 2019, a reversal of the USD266 million BOP deficit recorded in the same month last year, the Bangko Sentral ng Pilipinas (BSP) disclosed in a statement on Wednesday. Inflows in March 2019… Read More
PSEi recovers, peso weakens on lower remittance growth
April 16, 2019, 6:59 pm
MANILA -- Philippine shares bounced back on Tuesday but the peso lost steam because of the less-than-stellar growth of remittances by Filipino workers overseas in February this year. After a three-day slide, the Philippine Stock Exchange index (PSEi) gained 0.49 percent, or 38.48 points, to… Read More
Enactment of 2019 nat'l budget to spur economic growth
April 16, 2019, 5:39 pm
MANILA -- Finance Secretary Carlos Dominguez III hailed the signing into law of the PHP3.7-trillion 2019 national budget, citing its importance towards attaining sustained growth of the Philippine economy. “We fully support the President in his desire to focus national expenditure on projects… Read More
Lopez sees improvement in PH's ease of doing business ranking
April 16, 2019, 4:54 pm
MANILA -- Trade and Industry Secretary Ramon Lopez expressed optimism that the country’s ease of doing business score will show marked improvement this year since 33 out of the 43 specified areas needing reforms have already been achieved. In an interview with journalists on Tuesday, Lopez… Read More
BOI okays P8.5-B paper production facility in Bulacan
April 16, 2019, 3:51 pm
MANILA -- The Board of Investments (BOI) announced Tuesday that it has approved the PHP8.5-billion project of United Pulp and Paper Co., Inc. (UPPC). UPPC's project entails the establishment of a paper machine line facility in Calumpit, Bulacan, which targets to manufacture 220,000 tons of… Read More
T-bill rates up ahead of Holy Week holidays
April 15, 2019, 9:13 pm
MANILA -- The rates of Philippine Treasury bills (T-bills) went up Monday, with investors’ preference very apparently leaning toward the shortest tenor, as banks want to keep their cash ahead of the long weekend due to the celebration of Holy Week. Rate of the 91-day paper slightly rose to 5.614… Read More
AGC's PT Asahimas Flat Glass starts production at Cikampek plant
April 15, 2019, 8:27 pm
TOKYO -- AGC Inc. announced on Monday (April 15) that its Indonesian unit, PT Asahimas Flat Glass Tbk began operating a mirror line at its Cikampek plant in the first quarter 2019 following the launch of its new float furnace and mass production on its new magnetron sputtering coater in the third… Read More
Car sales recover in March
April 15, 2019, 8:17 pm
MANILA – Sales of car manufacturers bounced back in March, recording a double-digit growth year-on-year, the Chamber of Automotive Manufacturers Association of the Philippines, Inc. (CAMPI) reported on Monday. CAMPI sales increased by 14 percent last month to 32,173 units from 28,216 units sold… Read More
Peso firms up, local shares slide
April 15, 2019, 8:01 pm
MANILA -- The Philippine peso ended stronger against the US dollar while the Philippine Stock Exchange index (PSEi) finished in the red as the abbreviated trading week kicked off to a start on Monday. The peso improved to 51.64 from last Friday’s 51.765. BPI Research, in a report issued after… Read More
Oil companies to hike prices Tuesday
April 15, 2019, 7:05 pm
MANILA -- Motorists will be rudely greeted by somewhat substantial increases in pump prices this Holy Week, as oil companies are set to implement the upward adjustment at 6 a.m., Tuesday. The Department of Energy (DOE), in a statement, traced these upticks to the production cuts by major oil… Read More
PCC approves Ayala-PHINMA energy deal
April 15, 2019, 6:33 pm
MANILA -- The Philippine Competition Commission (PCC) has approved the acquisition of the majority stake in PHINMA Energy by Ayala Corporation’s power branch, AC Energy. In its decision dated April 11, the PCC said the transaction between AC Energy and PHINMA Corp. will not likely result in… Read More
DOE eyes stable power reserves as demand dips on Holy Week
April 15, 2019, 6:32 pm
MANILA -- The Luzon grid's electricity reserves are expected to register higher this week as power plants that went on unplanned outages are expected to resume operations, even while energy officials remain mum on the likely power situation next week. In a briefing Monday, Department of Energy… Read More
PLDT Home revenue reaches P36.4-B in 2018
April 15, 2019, 5:24 pm
MANILA -- PLDT Inc. has increased the revenue of its Home Business group by 10 percent year-on-year, driven by robust consumer demand for broadband services, to end 2018 with a hefty PHP36.4 billion. The demand for Home broadband Internet services was generated by increased consumption of online… Read More
Expect heavy traffic going to NAIA this Holy Week
April 15, 2019, 5:23 pm
MANILA -- Flag carrier Philippine Airlines (PAL) said in a travel advisory issued on Monday that passengers should anticipate heavy traffic en route to the airport this Holy Week. "Allocate more time in going to the airport to ensure that you will make it in time for your flight," noted the… Read More
Personal remittances hit $5.3-B in first 2 months of 2019
April 15, 2019, 3:39 pm
MANILA -- Personal remittances from overseas Filipinos (OFs) amounted to USD2.56 billion in February 2019, higher by 1.2 percent from USD2.53 billion in February 2018. This brought the cumulative remittances for the first two months of the year to USD5.30 billion, representing a 2.3 percent… Read More
PLDT partners with Cisco for 5G transport network
April 14, 2019, 6:09 pm
MANILA -- PLDT Inc. has partnered with technology firm Cisco Systems Inc. for the development of its IP transport infrastructure which will be utilized for the deployment of a fifth generation (5G) technology network. The investment with Cisco is part of PLDT’s transport network transformation… Read More
BSP extends transitory period for banks' amended reports
April 14, 2019, 5:05 pm
MANILA -- The Monetary Board (MB) approved the extension of transitory period of the amended report on bank interest rates on loans and deposits until 31 December 2019. This extension provides more time for banks to assess their compliance with the enhanced reporting structure prior to full… Read More
'Normal power condition' for Luzon grid on Sunday
April 14, 2019, 12:55 pm
MANILA – The pubic need not worry about any power outages on Sunday after the National Grid Corporation of the Philippines (NGCP) announced that the Luzon grid is in "normal power condition," despite having been under yellow and red alerts in the past days due to thin electricity supply. The… Read More
ASEAN urged to collaborate vs. financing of terrorism
April 14, 2019, 12:33 pm
MANILA -- The Philippines has underscored the need for member-states of the Association of Southeast Asian Nations (ASEAN) to share their efforts and initiatives in deterring money laundering schemes, which have been proven to be among the primary tools being used to fund international terrorist… Read More
PH fruits production up in Q4 '18
April 13, 2019, 6:25 pm
MANILA -- Philippine pineapple and mango production posted increments during the October-December 2018 period, according to the Philippine Statistics Authority (PSA).Pineapple production during the period increased by one percent, reaching 706,046 metric tons (MT) from 699,022 MT in the same… Read More
