Business
Gov't reviews Israel's solar powered irrigation offer
April 13, 2019, 5:57 pm
MANILA -- An inter-agency group has started a study and review of the proposal of an Israeli-government backed corporation to build 6,200 units of solar-powered irrigation systems (SPIS) in the country, which would be funded by a PHP44-billion loan payable in 10 years.Agriculture Secretary… Read More
PH to lobby easing of Japanese 'protocol' on banana
April 13, 2019, 4:54 pm
MANILA -- Agriculture Secretary Emmanuel Piñol on Saturday said he will lead efforts to call on the Japanese government to lift stricter tests for chemical residue and ensure faster access of Philippine banana exports to Japan.Piñol said he will personally handle the request of the Pilipino… Read More
Korean Air launches Boston non-stop flights to Asia
April 13, 2019, 4:41 pm
MANILA – Korean Air, in a joint venture with Delta Air Lines, has launched non-stop flights between Boston and Seoul. The first flight that arrived 10:33 a.m. Friday (local time from Seoul Incheon) was saluted by a water cannon and celebrated in speeches by airline and government officials.… Read More
Bizman denies cement shortage claim in Metro Manila
April 13, 2019, 4:20 pm
MANILA--There is no indication at all of a supposed shortage of cement, a construction retailer/property developer in Rizal province said Friday.“Shortage? As far as the current supply of cement in the National Capital Region, I don’t think so,” Wilson Gaw, owner of Durawood Lumber and… Read More
Luzon power situation to improve this weekend: DOE
April 12, 2019, 9:38 pm
MANILA -- The Department of Energy (DOE) expects the power supply situation in Luzon grid to improve this weekend following a two to three-hour power interruption on Friday. In an advisory, the DOE said a maximum of 6 percent of the load in Luzon, 588 megawatts out of around 10,022 MW demand peak,… Read More
Peso ends week stronger, stocks dip
April 12, 2019, 8:06 pm
MANILA -- The peso ended the week on a strong note while local stocks tumbled, as investors turned cautious ahead of earnings season of the United States (US). The barometer Philippine Stock Exchange index (PSEi) declined Friday by 0.94 percent, or 74.98 points, to 7,880.82. “The PSEi falling… Read More
Higher investments in science, tech to boost productivity: NEDA
April 12, 2019, 7:17 pm
MANILA -- The Philippines needs to ramp up investment spending in science and technology to spur productivity growth as it gears up for the so-called Asian Century, an official of National Economic and Development Authority (NEDA) said on Friday. “The benchmark actually is one percent of GDP… Read More
Cebu Pacific reminds passengers to check baggage, airport rules
April 12, 2019, 6:25 pm
MANILA -- Local carrier Cebu Pacific (CEB) has reminded passengers to check the baggage and airport rules so they could avoid hassle, especially this peak season. Earlier, the Civil Aviation Authority of the Philippines (CAAP) announced it is expecting an increase in the number of passengers… Read More
Cusi vows institutional solutions for PH power supply
April 11, 2019, 9:35 pm
MANILA -- Energy Secretary Alfonso Cusi on Thursday said they are committed to implement institutional solutions in ensuring sufficient electricity to meet consumers' needs, in view of thinning power supply that have at times dipped to critical levels. This, after yellow and red alert notices have… Read More
Luzon grid placed on 1-hour red alert Thursday night
April 11, 2019, 9:15 pm
MANILA -- A red alert notice was issued by the National Grid Corporation of the Philippines (NGCP) covering the Luzon grid between 7-8pm Thursday, a second during the day, after Unit 2 of the SMC Consolidated Power Corporation (SCPC) Power Plant Limay, Bataan suffered forced outage. In an… Read More
SRA bares attempts to manipulate sugar prices
April 11, 2019, 9:00 pm
MANILA -- Sugar Regulatory Administration (SRA) chief Hermenegildo Serafica said there are some sectors trying to manipulate the market by spreading rumors that may lead to higher retail prices of sugar. "There is no reason for sugar prices to go up since sugar stock balance is at an all-time high… Read More
Local markets slip on trade, growth concerns
April 11, 2019, 8:41 pm
MANILA -- The Philippine peso on Thursday weakened against the US dollar while the main stocks gauge contracted after a three-day rally following reports of lower trade deficit in February as well as other growth concerns. The local currency ended the day at 51.835 from the previous day's 51.9. A… Read More
BOI asks local biz centers to answer investment queries
April 11, 2019, 8:13 pm
TACLOBAN CITY -- The Board of Investments (BOI) has asked Negosyo (business) Centers to answer basic questions on investment promotion to attract more businesses in their area. More than a hundred Negosyo Center officers in Eastern Visayas attended a three-day small business course on investments… Read More
Power outage unlikely despite Yellow Alert: DOE
April 11, 2019, 7:27 pm
MANILA -- A relatively low demand for electricity in the Luzon grid on Thursday practically assured that a power outage would not happen. "The Department of Energy does not expect any power interruption because of the generally low actual demand and the availability of 247.5 MW (megawatt) under… Read More
DOE exec dispels fears of looming power crisis
April 11, 2019, 7:19 pm
MANILA -- The Philippines is not expected to undergo a power crisis anytime soon because the potential causes of problems, as well as their remedies, have already been identified. This was stressed by Department of Energy (DOE) Undersecretary Felix William B. Fuentebella in a briefing Thursday.… Read More
PH eyes up to 8% rise in export of halal goods
April 11, 2019, 7:09 pm
MANILA -- The government aims to increase the country’s exports of halal products by 6 to 8 percent to around USD605 million this year, as it intensifies promotion efforts to gain a share of the USD3.2-trillion world halal market. In a press briefing on Thursday, Anthony Rivera, assistant… Read More
Piñol assures release of P10-B RCEF in Q3
April 11, 2019, 6:25 pm
MANILA -- Agriculture Secretary Emmanuel "Manny" Piñol assured farmers that the PHP10-billion Rice Competitiveness Enhancement Fund (RCEF) will be released in the third quarter this year, following the recent passage of the Rice Tariffication Law. "There is no truth to the report that government… Read More
Maynilad sets maintenance work on Holy Week, waterless days loom
April 11, 2019, 3:25 pm
MANILA -- Maynilad Water Services, Inc. (Maynilad) on Thursday announced it will be conducting several water network enhancement activities, including facility maintenance works, pipe decommissioning, pipe interconnections, and valve replacements, during the Holy Week, from April 16, 2019 (Holy… Read More
Co-working space firm eyes expansion outside Metro Manila
April 11, 2019, 7:33 am
MANILA -- Co-working space provider, KMC Solutions, is eyeing to expand its operations outside Metro Manila amid strong demand for office spaces among business firms in the country. KMC Solutions has partnered with private equity firm, ASEAN Industrial Growth Fund (AIGF), to finance its expansion… Read More
Cement shortage seen to delay new construction projects
April 10, 2019, 9:24 pm
MANILA -- A property consultancy firm warned that the current shortage of cement is likely to hold back the construction of new buildings. Pronove Tai International Consultants said increase in the supply of cement is important in order to create more office spaces that can be utilized by business… Read More
