Business
GDP growth targets cut due to budget impasse
March 13, 2019, 8:44 pm
MANILA -- Economic managers on Wednesday cut economic growth targets for 2019-20 due to the projected impact of the re-enacted budget this year. In a briefing after the meeting of the inter-agency Development Budget Coordination Committee (DBCC), Department of Budget and Management (DBM)… Read More
Measures to address water supply shortage bared
March 13, 2019, 8:03 pm
MANILA -- The Metropolitan Waterworks and Sewerage System (MWSS) on Wednesday bared measures that would address the on-going water shortage in some parts of Metro Manila, particularly those being serviced by the Manila Water Company. MWSS Administrator Reynaldo Velasco, in a press conference held… Read More
Ayala group sets P262-B capex for 2019
March 13, 2019, 7:51 pm
MANILA -- Conglomerate Ayala Corp. has earmarked PHP262 billion for its capital expenditures this year, mostly to expand its real estate and telecommunications businesses. “A bulk of this amount is allocated to Ayala Land and Globe (Telecom), which have set aside PHP130 billion and PHP63 billion… Read More
Water service interruptions 'unlikely' in Maynilad areas
March 13, 2019, 6:26 pm
MANILA -- Maynilad Water Services Inc. assured its customers that no water interruptions await them amid the current water shortage in other parts of Metro Manila and surrounding areas. “Maynilad is not substantially affected by the water shortage. By and large, the West Zone is protected by the… Read More
18 Davao City mountain resorts told to get biz permit
March 13, 2019, 5:19 pm
DAVAO CITY -- The 18 inland resorts that the local government shut down last year may reopen in time for summer if their owners have already complied with local laws and regulations.This was according to Councilor Conrado Baluran, chairperson of the City Council’s committee on transportation and… Read More
IPOPHL brings IP-focused MCLE program to Cebu
March 13, 2019, 4:48 pm
MANILA -- The Intellectual Property Office of the Philippines (IPOPHL) will be mounting the 2019 edition of the Mandatory Continuing Legal Education (MCLE) this March in Cebu, to expand its education drive and reach out to IP practitioners in the Visayas. The IPOPHL MCLE 2019 Program’s Cebu leg,… Read More
NEDA estimates impact of reenacted budget
March 13, 2019, 3:45 pm
MANILA -- According to estimates of the National Economic and Development Authority, a reenacted budget until April 2019 will bring down full-year gross domestic product (GDP) growth from 6.1 to 6.3 percent. “On the other hand, if the budget is passed in August, expect growth to be around only… Read More
Car sales in Feb 2019 up 0.6%
March 13, 2019, 3:30 pm
MANILA – Vehicle sales in February this year slightly improved by 0.6 percent to 26,327 units compared to the 26,176-unit sales in the same month in 2018, the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) reported Wednesday. Sales of passenger cars increased last month by… Read More
Smart partners with Nokia for 5G deployment in schools
March 13, 2019, 3:14 pm
MANILA -- PLDT wireless unit Smart Communications has partnered with Nokia for the deployment of fifth generation (5G) technology and services in schools across the country. Both companies have signed a memorandum of understanding (MOU) for the development of 5G standalone (5G SA) solutions such… Read More
CAAP not keen on banning B737 Max 8
March 13, 2019, 8:10 am
MANILA -- The Civil Aviation Authority of the Philippines (CAAP) is not considering banning the use of the Boeing 737 Max 8 to and from the country, spokesperson Eric Apolonio said Tuesday. "We cannot ground the use of a type of aircraft, unless requested by the ICAO (International Civil Aviation… Read More
Number of workers at Bataan Freeport triples in 10 years
March 12, 2019, 9:11 pm
BALANGA CITY, Bataan -- The number of workers at the Freeport Area of Bataan (FAB) in Mariveles town has more than tripled compared to about 10 years ago, the Authority of the Freeport Area of Bataan (AFAB) said on Tuesday. Engineer Emmanuel Pineda, AFAB chairman, said that as of February 28 this… Read More
PSEi improves; peso depreciates on rate cut expectations
March 12, 2019, 8:26 pm
MANILA – The Philippines’ main equities gauge recovered Tuesday but the peso weakened on expectations of fresh monetary easing by the Bangko Sentral ng Pilipinas (BSP) this year. The Philippine Stock Exchange index (PSEi) rose 0.50 percent, or 38.82 points, to 7,747.54 points. This improvement… Read More
Diokno open to 400 basis point cut in RRR over 4 quarters
March 12, 2019, 7:52 pm
MANILA -- Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said any policy easing move can be done not only through policy rate cuts but also by slashing the reserve requirement ratio (RRR) by as much as 400 basis points over the next four quarters. In an interview over ABS-CBN News… Read More
Insular Life launches program on women's economic empowerment
March 12, 2019, 7:51 pm
MANILA -- Insular Life, the country’s largest Filipino-owned life insurance company, is taking a notch higher its advocacy to empower women through its newest program called the InLife Sheroes. The initiative seeks to influence the relatively untapped segment of the country, such as women… Read More
Diokno eyes 7% growth for PH in 2019
March 12, 2019, 7:49 pm
MANILA -- Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno forecasts a 7 percent growth for the Philippine economy this 2019 on account of the delay in this year’s national budget. This growth level falls on the lower end of the 7 to 8 percent target band until 2022 set by the… Read More
Piñol junks proposal to import unhusked rice
March 12, 2019, 7:46 pm
MANILA -- Agriculture Secretary Emmanuel "Manny" Piñol has junked the planned importation of palay or unhusked rice as it may pose danger to Philippine agriculture. "We will not allow the importation of palay (unhusked rice) because it could pose danger to our rice industry. It could also bring… Read More
DA reports P464-M initial agri damage due to El Niño
March 12, 2019, 5:56 pm
MANILA -- The Department of Agriculture (DA) reported initial losses amounting to some PHP464.27 million with an estimated volume of 22,918 metric tons (MT) of produce due to the "weak" El Nino that is affecting the country's farmlands. As of March 11, total damaged farm lands were placed at… Read More
Petron net income drops 50% on declining crude prices
March 12, 2019, 5:07 pm
MANILA -- Petron Corp. posted a 50 percent drop in 2018 net income to PHP7.1 billion, following a sustained decline in global crude prices that resulted in inventory losses of PHP10 billion for the last two months of the year, the local oil giant disclosed in a statement on Tuesday. Operating… Read More
Kaspersky offers on-demand cybersecurity service in PH
March 12, 2019, 4:57 pm
MANILA -- Cybersecurity firm Kaspersky Lab has partnered with wireless service provider, Smart Communications, and mobile content provider Zed Philippines in launching this Tuesday its on-demand cybersecurity product, which will allow Internet users to secure their mobile devices against data… Read More
CAAP leads groundbreaking of P953-M upgrade of Busuanga Airport
March 12, 2019, 4:46 pm
MANILA -- The Civil Aviation Authority of the Philippines (CAAP) on Tuesday led the groundbreaking ceremony for the PHP953.4-million Busuanga Airport development project. CAAP spokesperson Eric Apolonio said the project involves the construction of runway embankment and re-orientation of the… Read More
