Business
Power sector asked to ensure supply after red alert notice
April 10, 2019, 9:00 pm
MANILA -- Officials of the Department of Energy (DOE) met with power industry players from government and the private sector on Wednesday to identify what additional measures are needed to ensure that the demand for electricity is met, following the issuance of a red alert notice on power supply… Read More
Megaworld opens P750-M hotel in Binondo
April 10, 2019, 8:58 pm
MANILA -- Property developer Megaworld Corp. on Wednesday introduced a new homegrown hotel brand in Binondo, Manila with an investment of PHP750 million, to meet the rising demand mainly from business visitors. Jeremy Russell Go, resident manager at Hotel Lucky Chinatown, told reporters that… Read More
Piñol shrugs off resignation rumors
April 10, 2019, 8:57 pm
MANILA-- Agriculture Secretary Emmanuel Piñol on Wednesday dismissed rumors that he has resigned from his post. Piñol, in a press briefing, also shrugged off the supposed "joke" of President Rodrigo Duterte during an event in Palawan last week that he (Duterte) wants him out of his Cabinet. "I… Read More
DOF cites efficiency rise in gov't projects
April 10, 2019, 8:10 pm
MANILA -- The overall efficiency of Philippine government projects has increased due to stringent evaluation, transparent procurement and implementation-ready requirement. In an economic bulletin penned by Finance Undersecretary Gil Beltran, the Department of Finance (DOF) said rise of the… Read More
Economic growth, investments reducing poverty: NEDA official
April 10, 2019, 8:09 pm
MANILA -- The decline in the number of poor Filipinos today is a testament to the country’s sustained economic growth, as investments continue to come in, creating more jobs, according to an official of National Economic and Development Authority (NEDA). The Philippine Statistics Authority (PSA)… Read More
Foreign investors to weigh in Davao market for Halal food chain
April 10, 2019, 8:01 pm
DAVAO CITY – Foreign investors joining the Philippine Halal Trade and Tourism Expo 2019 next month are expected to assess the potential of the Davao market on Halal food chain business. Marilou Ampuan, a trustee of the Davao City Chamber of Commerce and Industry, Inc. (DCCCII) and organizer of… Read More
Local markets rise ahead of FOMC meeting minutes, Holy Week
April 10, 2019, 7:36 pm
MANILA -- Bargain hunting lifted Philippine shares to the 8,000-level Wednesday and the peso also improved to 51-level against the greenback ahead of the Holy Week break. The Philippine Stock Exchange index (PSEi) rose 1.17 percent, or 92.90 points, to 8,008.53 points. Most of the other counters… Read More
DOE banks on efficient energy use to address power demand upticks
April 10, 2019, 7:22 pm
MANILA -- The Department of Energy (DOE) called for conservation and efficient use of electricity so the thinning power supply can keep up with the high demand. This call was issued after the Luzon grid was placed on red alert for several hours on Wednesday morning after some power plants went on… Read More
LGUs can tap funding facility for dev't phase of PPP projects
April 10, 2019, 7:15 pm
MANILA -- Local governments and entities now have enhanced access to a facility that can fund the feasibility studies and project development phase of their public-private partnership (PPP) projects, particularly those on climate resiliency. Under its Project Development and Monitoring Facility… Read More
Gov't launches 1st farmer-owned rubber tire brand
April 10, 2019, 6:40 pm
MANILA -- The Department of Agriculture (DA) and the Department of Trade and Industry (DTI) will be jointly spear-heading the launch on April 26, of the first farmer-owned motorcycle tires brand, Pilipinas Agila Tires, at the Crowne Plaza Hotel in Mandaluyong, Metro Manila. DA Secretary Emmanuel… Read More
Torre Lorenzo exec eyes 25% annual revenue growth
April 10, 2019, 6:12 pm
MANILA -- An official of Torre Lorenzo Development Corporation (TLDC) expects a 25 percent revenue growth in the next three to five years, driven mainly by its premium university residences. In a briefing Wednesday, TLDC Chief Finance Officer Emmanuel A. Rapadas said revenues posted big jumps… Read More
IMF cuts 2019 GDP forecast for PH to 6.5%
April 10, 2019, 8:36 am
MANILA – The International Monetary Fund (IMF) slashed its 2019 growth projection for the Philippines from 6.6 percent to 6.5 percent after considering the impact of softer global economic output due to increased trade tensions and tariff increases. Based on its World Economic Outlook (WEO)… Read More
BSP, BAIPHIL join hands to preserve integrity of PH currency
April 9, 2019, 5:08 pm
MANILA -- The Bankers Institute of the Philippines Inc., (BAIPHIL) is now a partner of the Bangko Sentral ng Pilipinas (BSP) for a focused, sustainable, wide-reaching and holistic approach in the implementation of the Clean Note and Coin Policy (CNCP), the BSP announced in a statement on Monday.… Read More
ADB, WB urged to coordinate dev't efforts in Asia-Pacific
April 9, 2019, 2:42 pm
MANILA -- Finance Secretary Carlos Dominguez III has underscored the need for the Asian Development Bank (ADB) and the World Bank to closely coordinate efforts and explore their complementarities to more effectively accelerate sustainable development in the Asia-Pacific region, the Department of… Read More
DMCI Homes bullish on residential market due to subway construction
April 9, 2019, 7:35 am
MANILA -- Premier Quadruple A developer DMCI Homes has expressed optimism on the future of the residential market in Metro Manila amid the bright prospects presented by the construction of the country’s first intercity underground railway. DMCI Homes Assistant Vice President for Project… Read More
DOE, industry players to deploy measures for power sufficiency
April 8, 2019, 8:39 pm
MANILA -- The Department of Energy (DOE) on Monday assured the public that measures are being jointly undertaken with power industry players to ensure sufficient electricity supply this summer in light of shrinking reserves, especially during peak consumption hours. This, after the National Grid… Read More
Local stocks higher, peso sideways as trading week begins
April 8, 2019, 7:42 pm
MANILA -- The Philippine Stock Exchange index (PSEi) ended Monday with gains, reportedly inspired by reports of the improvement of non-farm payrolls in the US last March, while the peso finished the day sideways against the greenback. PSEi improved for the second day in a row and gained 0.54… Read More
Pump prices up Tuesday
April 8, 2019, 7:41 pm
MANILA -- Pump prices will be heading up again this week, as several oil companies separately announced increases to simultaneously take effect at 6 a.m. on Tuesday, April 9. Petron , Shell Philippines, PTT Philippines, Seaoil, Petro Gazz, and Flying V said in text messages to reporters that… Read More
PH T-bill rates end mixed in Monday auction
April 8, 2019, 5:30 pm
MANILA -- The rate of the 91-day Treasury bills (T-bill) declined Monday, contrary to the rise of the two longer tenor debt papers, resulting in the partial award for the latter two tenors. Average rate of the bellwether tenor went down to 5.612 percent from 5.635 percent during the auction last… Read More
Swedish firms keen on PH infra program
April 8, 2019, 4:41 pm
MANILA -- Swedish companies have taken an interest in various infrastructure endeavors and other industries that are picking up momentum in the Philippines, noting the country’s strong economic performance can provide opportunities for growth. Ulf Wennblom, country manager of Business Sweden in… Read More
