Business
Udenna eyes Davao airport project
April 4, 2019, 9:16 am
DAVAO CITY – Davao-based Udenna Infrastructure Corporation has sought the endorsement of the City Council in its bid to undertake the modernization and expansion of the Francisco Bangoy International Airport, or the Davao International Airport.Engr. Manuel Jamonir, business development manager… Read More
PH franchises urged to expand presence in ASEAN region
April 3, 2019, 8:40 pm
MANILA -- Filipino franchises are encouraged to expand to other Association of Southeast Asian Nations (ASEAN) member-states, which offer a huge market of more than 600 million consumers. Eric Elnar, Trade Service Officer of the Foreign Trade Service Corps at the Department of Trade and Industry… Read More
DOE coordinates with power producers to ensure supply
April 3, 2019, 8:39 pm
MANILA -- For the third consecutive day, the Department of Energy (DOE) assured the public that it continues to coordinate with power producers as the country's power reserves grow thinner. In a statement, the Energy department said the yellow alert status in the Luzon grid was lifted by the… Read More
P6-B resort, entertainment complex to rise in Clark
April 3, 2019, 8:33 pm
CLARK FREEPORT, Pampanga—A PHP6-billion resort and entertainment complex will soon be built in this Freeport. This, as the ISOC Holdings, through ISOC Land (I-Land), signed Tuesday an agreement with the Clark Development Corporation (CDC) to lease and develop a seven-hectare area here that will… Read More
Udenna eyes 3 big-ticket projects in Davao
April 3, 2019, 8:10 pm
DAVAO CITY -- Udenna Corporation is eyeing three big-ticket projects in Davao City, on top of the proposed modernization of the Francisco Bangoy International Airport.Engr. Manuel Jamonir, Udenna Corporation vice president, presented proposed projects during a forum on Monday attended by members… Read More
ADB forecasts higher growth for PH in 2019
April 3, 2019, 7:32 pm
MANILA -- Higher public infrastructure spending along with sound macroeconomic policies, among others, emboldened economists of the Manila-based Asian Development Bank (ADB) to forecast a 6.4 percent growth for the Philippine economy both for 2019 and 2020. The projection for the current year is… Read More
TDF rates down Wednesday
April 3, 2019, 7:31 pm
MANILA -- The rates of Bangko Sentral ng Pilipinas’ (BSP) term facilities declined Wednesday in the face of greater submissions from banks. Data released by the BSP showed that rate of the seven-day Term Deposit Facility (TDF) went down to 4.9333 percent and the 14-day facility to 4.9969… Read More
Local markets higher on Wednesday amid growth forecast cuts
April 3, 2019, 7:20 pm
MANILA -- Both the Philippine Stock Exchange index (PSEi) and the local currency managed to end Wednesday’s trading higher despite the release of uninspiring outlooks on the domestic as well as global economies. PSEi gained further by 0.20 percent, or 15.85 points, to 7,895.06 points, which… Read More
Globe to do maintenance work in rural areas from April till yearend
April 3, 2019, 7:19 pm
MANILA -- Globe Telecom will conduct preventive maintenance work in its wireless network facilities from April to December this year in line with efforts to improve equipment reliability in several remote barangays of the country. “We need to ensure the reliability of our network equipment to… Read More
Startup firm launches helicopter ridesharing service in PH
April 3, 2019, 5:57 pm
MANILA -- A Singapore-based technology startup firm on Wednesday launched its helicopter ridesharing service which is expected to provide an alternate mode of transportation to commuters and contribute to efforts to ease traffic congestion in the country. Ascent offers helicopter flights in… Read More
BSP remits P4-B to BTr
April 3, 2019, 2:07 pm
MANILA -- The Bangko Sentral ng Pilipinas (BSP) has remitted PHP4.0 billion to the National Treasury following the effectivity of the law amending the New Central Bank Act last March 5, the Department of Finance (DOF) disclosed in a statement on Wednesday. In its report to Finance Secretary Carlos… Read More
200 Shandong bizmen explore Cebu’s investment potentials
April 2, 2019, 11:00 pm
CEBU CITY -- More than 200 Chinese businessmen on Tuesday explored Cebu province’s investment potentials through a cooperation seminar organized by the People’s Provincial Government of Shandong, China. Leading the delegation from Shandong is Governor Gong Zheng who addressed the participants,… Read More
Shakey’s acquires Peri-Peri Charcoal Chicken chain
April 2, 2019, 7:37 pm
MANILA -- Shakey’s Pizza Asia Ventures Inc., one of the country’s leading restaurant operators, has announced the acquisition of Peri-Peri Charcoal Chicken, an emerging fast casual and full-service restaurant brand in the Philippines. Under the Asset Purchase Agreement signed Tuesday,… Read More
Rice tariffication to bolster PH's WTO membership
April 2, 2019, 7:05 pm
MANILA -- The implementation of rice tariffication will further bolster the Philippines' advantages vis-à-vis its membership to the World Trade Organization (WTO). In a reply to questions from the Philippines News Agency (PNA), IHS Markit Asia Pacific Chief Economist Rajiv Biswas explained that… Read More
Local markets mirror Wall Street's bullishness
April 2, 2019, 5:45 pm
MANILA -- The Philippine Stock Exchange index (PSEi) recovered Tuesday following the rally in US stocks, which also gave the peso a much-needed boost. After giving up more than 1 percent Monday, PSEi gained 0.50 percent, or 38.90 points, to 7,879.21 points. This was the tone for all the counters,… Read More
Agri losses due to El Niño breach P5-B mark
April 2, 2019, 5:17 pm
MANILA -- Losses to local agriculture due to the El Niño have reached PHP5.05 billion as of Tuesday (April 2) from the PHP4.35 billion recorded over the weekend, representing around 276,568 metric tons (MT) of rice and corn crops that were destroyed. Agriculture Secretary Emmanuel Piñol, in a… Read More
Banknotes with Diokno's signature in circulation by June
April 2, 2019, 4:51 pm
MANILA -- The initial batch of Philippine bank notes bearing the signature of Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno will be out around June 2019. This was disclosed by Diokno during a dinner he hosted for friends and a handful of journalists Monday to celebrate his birthday,… Read More
Those fearing loan default have no faith in PH: Dominguez
April 2, 2019, 1:27 pm
MANILA -- Finance Secretary Carlos Dominguez III said some sectors that continue to raise the false specter of the Philippines defaulting on its concessional loans to China have no faith in their own country. Dominguez said in a statement on Tuesday that fears of the Philippines defaulting on any… Read More
World Bank sees PH GDP growth at 6.4% in 2019
April 1, 2019, 9:20 pm
MANILA -- The World Bank (WB) expects the Philippine economy to expand by 6.4 percent this year, with election spending and lower inflation projected to boost private consumption. The Bank also sees the country’s gross domestic product (GDP) growing 6.5 percent in 2020 and 2021. These new… Read More
Former DPWH chief backs creation of Dept. of Water
April 1, 2019, 9:17 pm
MANILA -- A former Department of Public Works and Highways (DPWH) secretary is supporting calls to create a Department of Water to efficiently manage the country's water supply amid the current El Nino situation. Former DPWH Secretary Rogelio Singson said a Department of Water will lead to the… Read More
