Business
Peso sideways, PSEi down after WB cuts PH output forecast
April 1, 2019, 8:17 pm
MANILA -- The World Bank’s (WB) revision of its 2019 growth forecast for the Philippines was widely seen as a major contributor to the peso going sideways and for the main equities gauge to end lower at the start of the week's trading. The peso ended Monday's session at 52.505 from 52.5 Friday… Read More
DOE closely coordinating with power suppliers as demand goes up
April 1, 2019, 7:13 pm
MANILA -- The Department of Energy (DOE) assured the public of continued coordination with power industry players in view of the heightened demand for electricity during the sweltering summer season. The DOE issued the statement after the National Grid Corporation of the Philippines (NGCP) placed… Read More
Korean Air marks 40th year of New York-Seoul service
April 1, 2019, 7:11 pm
MANILA -- South Korean flag carrier Korean Air (KE) recently marked the 40th year of its New York-Seoul route. To mark the occasion, the carrier threw a party at JFK International Airport last March 29 (EST), gave its passengers personal thank you notes, and surprised the 40th passenger who… Read More
PH T-bill rates mixed
April 1, 2019, 6:40 pm
MANILA -- All Philippine government-issued Treasury bill (T-bill) tenors were oversubscribed on Monday even while rates ended mixed. Bureau of the Treasury (BTr) offered the bellwether 91-day paper for PHP4-billion and the auction committee made a full award after average rate went down to 5.635… Read More
PH, Indonesia strengthen trade, investment ties
April 1, 2019, 5:46 pm
MANILA -- Indonesia has agreed to allow more Philippine agricultural products, particularly bananas and coconut-based products, to penetrate its huge market, as the two countries work to enhance bilateral trade and investment, and reduce trade gaps between them. The Indonesian delegation led by… Read More
Japanese firm set to invest P392-M in Subic
April 1, 2019, 5:14 pm
SUBIC BAY FREEPORT -- A Japanese steel company has committed to invest some PHP392.million in this premier freeport for the production of gear parts for industrial robots and specialty steel products for other companies here and abroad. Wilma Eisma, chairman and administrator of Subic Bay… Read More
Around 138K foreigners now working for POGOs, other industries
April 1, 2019, 3:53 pm
MANILA -- An interagency task force now checking the number of foreign nationals working for Philippine online gaming operators (POGOs) has come up with an initial list of 138,000 workers employed in these internet-based operations as well as in other businesses, an apparently untapped sub-sector… Read More
Producers hit 3-year low input price inflation rate in March
April 1, 2019, 11:51 am
MANILA -- Manufacturing firms recorded the lowest rate of input price inflation in over three years in March, the IHS Markit Manufacturing Purchasing Managers’ Index (PMI) reported Monday. “[M]anagers will be pleased with reports of even softer price pressures, which should boost profit… Read More
P4.35-B worth of crops lost to El Niño
March 31, 2019, 7:53 pm
MANILA -- Agricultural losses due to the “weak” El Niño now affecting the country are estimated to have reached PHP4.35 billion with an estimated volume of 233,007 metric tons (MT) of crops and damaged 149,494 hectares of farmland. Total number of affected farmers and fisherfolk are 138,859… Read More
LPG goes up but gasoline, diesel, kerosene to go down
March 31, 2019, 7:29 pm
MANILA -- The tide seems to have turned in favor of motorists as oil executives announce a modest rollback in pump prices scheduled to come into effect on Tuesday, but homeowners will be biting their lips as the price of cooking gas is headed in the opposite direction. The country's two major oil… Read More
We won't fall into a debt trap: Dominguez
March 31, 2019, 1:46 pm
MANILA -- Finance Secretary Carlos Dominguez III on Sunday reassured the public that the Philippines will not fall into a "debt trap" to any other country as the government expands its infrastructure investments through concessional loan financing from its development partners. Dominguez, in a… Read More
AirAsia Philippines to launch Manila-Osaka route on July 1
March 30, 2019, 5:47 pm
MANILA -- AirAsia Philippines has just announced it would launch daily flights between Manila and Osaka, Japan starting July 1. "This will be our first operation to Japan. We chose Osaka to give flyers the option to connect to AirAsia X which offers flights between Japan and Honolulu," AirAsia… Read More
BSP sees March 2019 inflation between 3.1-3.9%
March 29, 2019, 10:44 pm
MANILA -- Higher oil prices and power rates are seen as upside risks to the country’s March 2019 inflation rate, which the Bangko Sentral ng Pilipinas (BSP) forecasts to stay between 3.1 and 3.9 percent. The lower end of the projected range is way below the 3.8 percent rate of price increases… Read More
Stocks, peso rise as US, China execs hold trade talks
March 29, 2019, 8:48 pm
MANILA -- Philippine stocks and the peso ended the week on positive note even as investors were all eyes on the resumption of the US-China trade discussions this week. The Philippine Stock Exchange index (PSEi) improved for the second day in a row after it posted a 0.56 percent, or 44.53 points,… Read More
El Niño has small impact on inflation, economic growth: NEDA
March 29, 2019, 8:29 pm
MANILA -- Officials of the National Economic and Development Authority (NEDA) on Friday downplayed the inflationary and economic impacts of weak El Niño as the government implements a roadmap to address the effects of the prolonged dry spell. Socioeconomic Planning Secretary and NEDA Director… Read More
PH Construction Industry Roadmap 2020-2030 launched in Clark
March 29, 2019, 7:58 pm
CLARK FREEPORT, Pampanga – The Philippine Construction Industry Roadmap 2020-2030 that aims to shape the future capacity, values, and institutional integrity of the country’s construction industry for the next 10 years was launched Thursday at the ASEAN Convention Center inside this Freeport.… Read More
PH never defaults on its foreign loans: Dominguez
March 29, 2019, 7:42 pm
MANILA -- The Philippines has never defaulted on its loan payments so there is nothing to worry about even if the government continues to borrow to finance its infrastructure program, Finance Secretary Carlos Dominguez III said Friday. “First of all, the Philippines has never defaulted in any of… Read More
PH, Indo, Malaysia agree to settle palm oil issue
March 29, 2019, 6:55 pm
MANILA -- The Philippines and its ASEAN-neighbors-- Malaysia and Indonesia-- have agreed to form a tri-partite technical working group to address the smuggling and dumping of palm oil into the country to the detriment of local coconut farmers. Department of Agriculture (DA) Secretary Emmanuel… Read More
Diokno cites thrift banks' contribution to PH economy
March 29, 2019, 6:07 pm
MANILA -- Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno on Friday highlighted the importance of the thrift banking industry in the sustained robustness of the Philippine economy. In his speech during the Chamber of Thrift Bank (CTB) convention in Makati City, Diokno said the sound and… Read More
MWSS orders Regulatory Office to study sanctions vs. MWCI
March 29, 2019, 6:00 pm
MANILA -- The Metropolitan Waterworks and Sewerage System (MWSS) has directed its Regulatory Office (RO) to study the imposition of penalties on Manila Water Company Inc. (MWCI) and suspension of increase in water rates following the supply shortage that affected consumers in the east zone… Read More
