Pinoy Business News

Pinoy Business News

  • Skepticism drags PSEi to another year low
    by clopez on May 6, 2021 at 9:26 pm

    The stock barometer slipped to a new low for the year amid sluggish trading volumes as investors awaited better news on the pace of the country’s COVID-19 vaccine rollout. The Philippine Stock Exchange index (PSEi) dipped by 16.91 points, or 0.27 percent, to close at 6,282.78, extending its losing streak for the fifth straight session. The post Skepticism drags PSEi to another year low appeared first on Inquirer Business.

  • IIF: PH a laggard in ‘uneven’ Asean-5
    by clopez on May 6, 2021 at 9:22 pm

    In what it described as an “uneven” recovery among emerging economies belonging to the Association of Southeast Asian Nations (Asean)-5, the Washington-based Institute of International Finance (IIF) saw the Philippines among the laggards in the region due to its inability to contain COVID-19, slow mass vaccination and prevailing high consumer prices. “The Asean-5 (Indonesia, Malaysia, The post IIF: PH a laggard in ‘uneven’ Asean-5 appeared first on Inquirer Business.

  • SMC profit hits P17.2B as businesses bounce back
    by clopez on May 6, 2021 at 9:20 pm

    Conglomerate San Miguel Corp. (SMC) chalked up P17.2 billion in first quarter net profit, 15 times better than the bottom line seen in the same period last year, as almost all major businesses marked a strong recovery despite the prolonged pandemic. This three-month net profit included earnings attributable to noncontrolling equity interest at the parent The post SMC profit hits P17.2B as businesses bounce back appeared first on Inquirer Business.

  • Metrobank aims to raise P10B via bond offering
    by clopez on May 6, 2021 at 9:18 pm

    Ty family-led Metropolitan Bank & Trust Co. (Metrobank) ventured into the local bond market on Thursday with the goal of raising at least P10 billion for fresh working capital. The bonds will have a tenor of 5.25 years and an interest rate of 3.6 percent a year, payable quarterly, the bank said in a disclosure The post Metrobank aims to raise P10B via bond offering appeared first on Inquirer Business.

  • Megaworld to spend bigger budget of P36B ‍with prudence, caution
    by clopez on May 6, 2021 at 9:16 pm

    Tycoon Andrew Tan-led property developer Megaworld Corp. has set aside a larger amount of P36 billion for capital outlays this year to fund “targeted” projects comprising mostly of residential developments.This budget marks a 29-percent increase from the actual capital expenditure (capex) last year. The company seeks to realign project developments with the restrictions brought about The post Megaworld to spend bigger budget of P36B ‍with prudence, caution appeared first on Inquirer […]

  • MVP to cede PLDT CEO post; Panlilio to take over
    by clopez on May 6, 2021 at 9:14 pm

    PLDT Inc. chief revenue officer Al Panlilio will become the company’s next CEO as it declared newfound dominance in the local telecommunications industry. This was announced by businessman Manuel V. Pangilinan, who will cede the CEO post that he has occupied for the past five years. Pangilinan, who will stay on as company chair, said The post MVP to cede PLDT CEO post; Panlilio to take over appeared first on Inquirer Business.

  • Globe taps partners in Europe, North America for 5G roaming
    by clopez on May 6, 2021 at 9:12 pm

    Globe Telecom is expanding 5G roaming partnerships in Europe and the United States, betting on more users shifting to the next-generation mobile technology. Globe Telecom said it had rolled out 5G roaming in Denmark, Estonia, Finland, Norway and Sweden with Telia Company. By June 3, it will expand to Italy with Telecom Italia. Within the The post Globe taps partners in Europe, North America for 5G roaming appeared first on Inquirer Business.

  • Water sector left high and dry, say gov’t experts
    by clopez on May 6, 2021 at 9:10 pm

    After decades on the table and two years after a jarring wake-up call that was the supply crisis which hit Metro Manila and adjacent provinces, there is still no central authority that would regulate the Philippine water resources industry. At this glacial pace of development, government affiliated experts say the Philippines is unlikely to meet The post Water sector left high and dry, say gov’t experts appeared first on Inquirer Business.

  • Katipunan descendants align with fisherfolk leaders
    by clopez on May 6, 2021 at 9:08 pm

    On April 30, direct descendants of Katipunan heroes who fought and died for our sovereignty against Spain supported fisherfolk leaders. This they did with a carefully crafted position paper they sent to the President. Dinna Umengan, the elected chair of the Fisheries and Aquaculture Banner Program of the legislated Philippine Council of Agriculture and Fisheries, The post Katipunan descendants align with fisherfolk leaders appeared first on Inquirer Business.

  • To borrow or not to borrow?
    by clopez on May 6, 2021 at 9:02 pm

    The sustainable growth of the micro, small and medium enterprise (MSME) sector in the country rests on the availability and accessibility of funds—be it on hand or through loans—that could help them cater to more clients by increasing inventory levels or expanding business operations. Specific to microenterprises, some banks, in recent years, have been building The post To borrow or not to borrow? appeared first on Inquirer Business.

  • Growing the business, building the culture
    by clopez on May 6, 2021 at 9:01 pm

    A few weeks before my birthday every year, I would ask my staff to send me their wish lists that I might be able to fulfill. Instead of receiving gifts (my love language is not gifts), I wanted to be the one giving them. This also allows me to know about the needs of my The post Growing the business, building the culture appeared first on Inquirer Business.

  • Research facility seen to make Philippines an AI powerhouse
    by Louella Desiderio on May 6, 2021 at 4:00 pm

    The establishment of a private sector-led research center under a roadmap rolled out on Wednesday would position the Philippines as an artificial intelligence powerhouse in the region.

  • PLDT reports strong Q1 results
    on May 6, 2021 at 4:00 pm

    Integrated telecommunications company PLDT Inc. is off to a good start amid continued challenges brought about by the pandemic, putting it on track to achieve its full year targets for the year.

  • Philippines remains in recession in first quarter
    by Lawrence Agcaoili on May 6, 2021 at 4:00 pm

    The country remained in recession in the first quarter as the resurgence of COVID cases and delayed vaccine rollout prompted the government to reimpose strict lockdowns, essentially putting a lid on economic recovery, top bank economists said.

  • Inflation may surge to 7% as global crude prices rise
    by Elijah Felice Rosales on May 6, 2021 at 4:00 pm

    The government needs to open up public transportation to reduce the cost of mobility, especially in Metro Manila, as economists yesterday warned inflation may shoot up to seven percent within the year.

  • Panlilio to succeed MVP as PLDT president, CEO
    by Richmond Mercurio on May 6, 2021 at 4:00 pm

    Business titan Manuel V. Pangilinan is passing over the torch to Al Panlilio as president and chief executive officer of telco giant PLDT Inc.

  • Megaworld allots P36 billion for 2021 capex
    by Iris Gonzales on May 6, 2021 at 4:00 pm

    Megaworld Corp. is setting aside P36 billion for capital expenditures this year, up 29 percent from the P27.9 billion spent last year.

  • Competent leadership versus gaslighting
    by Roberto R. Romulo on May 6, 2021 at 4:00 pm

    In this installment of the series of columns on competent leadership, I will focus on a practice that has become prevalent in politics called “gaslighting.”

  • Now, more than ever
    by Boo Chanco on May 6, 2021 at 4:00 pm

    UNESCO led the world last Monday in celebrating World Press Freedom Day. Last Wednesday marked the day ABS-CBN was shut down by Duterte a year ago.

  • Jollibee to open flagship store in London
    by Iris Gonzales on May 6, 2021 at 4:00 pm

    Jollibee Foods Corp., the listed Filipino-owned food conglomerate, is opening its flagship store at London’s West End, the UK capital’s world famous theater district.

  • Globe expands 5G roaming services to more countries
    by Richmond Mercurio on May 6, 2021 at 4:00 pm

    Globe Telecom Inc. is expanding the availability of its 5G roaming services to Europe and the US through partnerships with various telco operators.

  • PSEi dips to fresh year-low
    by Elijah Felice Rosales on May 6, 2021 at 4:00 pm

    Stocks plunged to a fresh year-low yesterday, bucking an upturn in most Asian markets, as investors remain wary of the continued rise in new COVID cases.

  • Metrobank raising P10 billion via fixed-rate bond issue
    by Lawrence Agcaoili on May 6, 2021 at 4:00 pm

    Metropolitan Bank & Trust Co. is raising at least P10 billion through the issuance of fixed-rate bonds to finance its working capital needs, diversify funding sources and shore up the bank’s position in preparation for a rebound from the COVID-19 pandemic.

  • Microinsurance now covers 50 million Pinoys
    by Czeriza Valencia on May 6, 2021 at 4:00 pm

    More Filipinos were covered by microinsurance as of last year, even with less collection of premiums by providers after extensions were made in the payment of contributions due to the pandemic, said the Insurance Commission.

  • Jobless rate down to 7.1% in March
    by Louise Maureen Simeon on May 6, 2021 at 4:00 pm

    The number of unemployed Filipinos last March declined to its lowest level since the start of the pandemic last year, the Philippine Statistics Authority said.

  • Monde Nissin sets IPO price at P13.50
    by Iris Gonzales on May 6, 2021 at 4:00 pm

    Snacks food giant Monde Nissin Corp. has set its initial public offering price at P13.50 per share, lower than the earlier announced maximum price of P17.50 apiece.

  • SMIC earnings rise to P9.5 billion in Q1
    by Iris Gonzales on May 6, 2021 at 4:00 pm

    Sm Investments Corp., the listed conglomerate of the Sy Group, reported a consolidated net income of P9.5 billion from January to March, up five percent from last year.

  • Philippine shares in the red for 5th straight day
    by ABS-CBN News on May 6, 2021 at 3:30 pm

    A fifth straight day in the red for Philippine shares even as the earnings season continues. 

  • Antas ng unemployment sa PH inaasahang tataas dahil sa balik-ECQ, MECQ
    by ABS-CBN News on May 6, 2021 at 1:46 pm

    Inaasahan ang pagtaas ng antas ng unemployment bunsod ng mga ipinatupad na lockdown kamakailan.

  • Vaccination sites ng mga pribadong kompanya nakahanda na
    by ABS-CBN News on May 6, 2021 at 1:33 pm

    Nakahanda na ang mga vaccination site ng mga pribadong kompanya para sa kanilang mga manggagawa.

  • Mga trabaho noong Marso dumami pero karamiha'y part-time lang: PSA
    by ABS-CBN News on May 6, 2021 at 1:32 pm

    Dumami ang bilang ng mga may trabaho noong Marso pero karamihan sa kanila ay part-time lang.

  • FOCUS: The WTO waiver battle over IP rights of COVID-19 jabs
    by Agnès Pedrero, Agence France-Presse on May 6, 2021 at 1:21 pm

    Sudden US backing for a global waiver on patent protections for Covid-19 vaccines offers hope to poor nations struggling for doses -- but the big pharma industry thinks the notion misguided.  

  • Huawei launches smart TV with AI voice control
    by Art Fuentes, ABS-CBN News on May 6, 2021 at 1:11 pm

    Chinese tech giant Huawei eyes making further headway into the Philippine consumer electronics market with the launch this Thursday of its Vision S smart TV.   

  • Presyo ng imported pork posibleng tumaas dahil sa inaprubahang taripa
    by ABS-CBN News on May 6, 2021 at 12:49 pm

    Tingin ng ilang meat importers, tataas nang bahagya ang presyo ng imported na karne sa mas malaking taripa nito. 

  • Global pharma shares slide as Biden backs COVID-19 vaccine IP waiver
    by evalderrama on May 6, 2021 at 11:17 am

    Shares of drugmakers involved in the production of COVID-19 vaccines, including Pfizer and Moderna, fell on Thursday, a day after U.S. President Joe Biden’s plan to back intellectual property waivers on vaccines. Biden threw his support behind a World Trade Organization waiver of intellectual property rights on vaccines to increase their availability to poorer nations The post Global pharma shares slide as Biden backs COVID-19 vaccine IP waiver appeared first on Inquirer Business.

  • BSP says digitalization drive to boost PH economic efficiency, lower costs
    by tbergonia on May 6, 2021 at 10:16 am

    MANILA, Philippines—The policy framework of the Bangko Sentral ng Pilipinas (BSP) continues to evolve as the regulator recognizes the “wide-ranging implications of digitalization” on central banking functions in a more interconnected world, its chief said on Thursday (May 6). At an online briefing, BSP Governor Benjamin Diokno said central banking in a digitally-connected world “has The post BSP says digitalization drive to boost PH economic efficiency, lower costs appeared first on […]

  • ICTSI sees 51 percent net income jump in first quarter as trade recovers
    by tbergonia on May 6, 2021 at 10:12 am

    MANILA, Philippines—Ports and gaming mogul Enrique K. Razon Jr.’s International Container Terminal Services Inc. (ICTSI) saw profits surge in the first quarter of 2021 as global trade continued to recover despite the COVID-19 pandemic. From January to March, ICTSI recorded a net income of $90.1 million, up 51 percent, while revenues jumped 16 percent to The post ICTSI sees 51 percent net income jump in first quarter as trade recovers appeared first on Inquirer Business.

  • Economists see PH’s longest post-Marcos recession extending to 1st quarter of 2021
    by tbergonia on May 6, 2021 at 9:29 am

    MANILA, Philippines—Two economists on Thursday (May 6) said they expected not only a bigger year-on-year contraction in gross domestic product (GDP) in the first quarter of 2021 but also output that is smaller than the fourth quarter of 2020, which would extend the Philippines’ longest recession since the fall of the Marcos dictatorship. In separate The post Economists see PH’s longest post-Marcos recession extending to 1st quarter of 2021 appeared first on Inquirer Business.

  • Trade resumption as lockdowns eased a boon to ICTSI in Q1
    by Ramon Royandoyan on May 6, 2021 at 9:22 am

    ICTSI recorded a first quarter net income of $102.3 million, 49% up year-on-year.

  • BSP issues new rules to protect banks, financial system from rogues
    by tbergonia on May 6, 2021 at 9:19 am

    MANILA, Philippines—Tighter checks on hiring by banks and regular monitoring of current employees for behavioral “red flags” would help weed out “unprincipled personnel” with the potential of damaging the financial system through rogue activities. The chief of the Bangko Sentral ng Pilipinas (BSP) gave emphasis to these measures, saying on Thursday (May 6) that financial The post BSP issues new rules to protect banks, financial system from rogues appeared first on Inquirer Business.

  • Microsoft pledges to store European cloud data in Europe
    by Agence France-Presse on May 6, 2021 at 9:09 am

    US tech giant Microsoft on Thursday pledged to store all European cloud-based client data in Europe amid unease on the continent over the reach of US legislation on personal data collection.

  • Brunei’s largest telco company DST launches mobile app jointly developed by MultiSys
    on May 6, 2021 at 9:06 am

    MyDST, the mobile app and website that leading software developer Multisys Technology Corporation recently completed with Datastream Digital Sdn Bhd (DST), has been successfully launched in Brunei.

  • Smart says motorists can now use mobile load for Easytrip RFID load
    by ABS-CBN News on May 6, 2021 at 8:04 am

    Smart Communications Inc said Thursday it partnered with Metro Pacific Tollways Corp to launch the country’s first toll top-up using mobile load.   

  • Nintendo logs record pandemic profit but outlook cautious
    by Agence France-Presse on May 6, 2021 at 7:54 am

    Nintendo reported a record annual profit Thursday after virus lockdowns caused sales of its blockbuster Switch console to soar, but the Japanese gaming giant warned that its bumper pandemic year would be hard to repeat.

  • Manny Pangilinan to retire as PLDT president, CEO in June
    on May 6, 2021 at 7:43 am

    “I will retire as president and CEO (of) PLDT and pass the baton over to Al Panlilio,” PLDT's Manuel V. Pangilinan said.

  • Al Panlilio to succeed Pangilinan in PLDT as income rebounds
    by ABS-CBN News on May 6, 2021 at 7:40 am

    Al Panlilio will be the next PLDT Inc president and CEO, the telco's current top official Manuel Pangilinan said Thursday, as the tycoon eyes retirement from the company this year.

  • Jollibee to open Europe flagship store in London near Buckingham Palace
    by ABS-CBN News on May 6, 2021 at 7:15 am

    Jollibee Foods Corp said Thursday it would open a Jollibee flagship store in Europe located at the London West End, a short drive from the Buckingham Palace and the London Ey

  • Australia disappointed with China’s decision to suspend economic dialogue
    by dlejano on May 6, 2021 at 7:14 am

    SYDNEY — Australia is disappointed with China’s decision to “indefinitely” suspend all activity under a China-Australia Strategic Economic Dialogue, Trade Minister Dan Tehan said on Thursday. “We remain open to holding the dialogue and engaging at the ministerial level,” Tehan said in a statement. The post Australia disappointed with China’s decision to suspend economic dialogue appeared first on Inquirer Business.

  • Elderly join Filipino grandchildren back in labor force to boost incomes
    by Prinz Magtulis on May 6, 2021 at 7:01 am

    People aged 65 years and up are responsible for the widening of the labor pool to its highest level in nearly 8 years in March.

  • DICT eyes using 'untapped funds' for common towers
    by ABS-CBN News on May 6, 2021 at 6:37 am

    The Department of Information and Communications Technology is interested in investing in common towers in commercially unviable areas, a DICT official said Thursday. 

  • 'Lucky Me' maker set to hold Philippines' biggest IPO next week: sources
    by Reuters on May 6, 2021 at 6:13 am

    Food manufacturer MondeNissin plans to open the books for a P48.6 billion ($1 billion) IPO next Tuesday at a fixed price of P13.50, people with knowledge of the transaction said.

  • Limited time offer: Enjoy big discounts at SM Home this May
    by vcatibog on May 6, 2021 at 5:59 am

    There are tentpole sale events consumers look forward to every year because one, they need the items being sold; two, they get more value for what they pay for; and three, the items they buy really add to and improve their quality of life. These can be said for the month-long SM Home sale this The post Limited time offer: Enjoy big discounts at SM Home this May appeared first on Inquirer Business.

  • Google says it doesn't sell users' personal info as privacy concerns grow
    by Jessica Fenol, ABS-CBN News on May 6, 2021 at 4:42 am

    Google said Thursday it does not sell user data and that information on its platforms such as Gmail, Google Drive or photos remain private.   

  • China to suspend economic dialogue mechanism with Australia
    by dlejano on May 6, 2021 at 4:33 am

    BEIJING — China “indefinitely” suspended on Thursday all activity under a China-Australia Strategic Economic Dialogue, its state economic planner said, the latest setback for their strained relations. “Recently, some Australian Commonwealth Government officials launched a series of measures to disrupt the normal exchanges and cooperation between China and Australia out of Cold War mindset and The post China to suspend economic dialogue mechanism with Australia appeared first on […]

  • Most Asian markets lifted by recovery optimism
    by ggaviola on May 6, 2021 at 3:23 am

    HONG KONG – Most markets across Asia rose Thursday as investors welcomed a strong jobs report from the United States that reinforced optimism that the world’s top economy is well on the recovery track, though inflation concerns continue to dog trading floors. The White House’s support for a global waiver on patent protections for Covid The post Most Asian markets lifted by recovery optimism appeared first on Inquirer Business.

  • Compromise reached on pork import tariffs, volume
    by clopez on May 5, 2021 at 9:40 pm

    The country’s economic managers and lawmakers finally reached a compromise on Wednesday on the rate of reduction in the tariff on pork and the cap on the volume of imports that will be slapped with lower duties, known as the minimum access volume (MAV).In a statement, the Department of Agriculture (DA) said the MAV on The post Compromise reached on pork import tariffs, volume appeared first on Inquirer Business.

  • High meat, fuel prices kept PH inflation elevated in April
    by clopez on May 5, 2021 at 9:24 pm

    The Philippines’ inflation rate remained at 4.5 percent year-on-year in April even as meat, especially pork, remained expensive while transport and fuel costs climbed amid normalizing global oil prices, the government reported on Wednesday. As last month’s average pace of increase in prices of basic commodities matched that in March, headline inflation averaged 4.5 percent, The post High meat, fuel prices kept PH inflation elevated in April appeared first on Inquirer Business.

  • World Bank to extend $2.4-B loan for 12 PH projects
    by clopez on May 5, 2021 at 9:22 pm

    The World Bank has increased its 2021 loan program for the Philippines to $2.4 billion, covering 12 upcoming projects that the Washington-based multilateral lender’s board is expected to all approve within the year. On top of the three loans totaling $565 million, which the Inquirer earlier reported, nine more projects were added to the list The post World Bank to extend $2.4-B loan for 12 PH projects appeared first on Inquirer Business.

  • LT Group readies bigger budget of P9.7B to face 2021 head-on
    by clopez on May 5, 2021 at 9:20 pm

    Tycoon Lucio Tan-led LT Group Inc. (LTG) will almost double its capital outlays this year as it expects business to become more bearable compared to last year, albeit still challenging. Capital expenditure is set at P9.7 billion compared to P4.94 billion last year. The increase in capital outlays will mainly be for the digitalization initiatives The post LT Group readies bigger budget of P9.7B to face 2021 head-on appeared first on Inquirer Business.

  • MPIC on track to achieve P12-B income goal
    by clopez on May 5, 2021 at 9:18 pm

    Infrastructure holding firm Metro Pacific Investments Corp. (MPIC) expects to hit its core income guidance of P12 billion this year even as the reimposition of tight lockdown protocols has curbed the recovery of its water, tollroad and railway businesses. With the rollout of the COVID-19 vaccination program boosting the confidence of medical practitioners and patients The post MPIC on track to achieve P12-B income goal appeared first on Inquirer Business.

  • Worst day of the year so far for PH stocks
    by clopez on May 5, 2021 at 9:16 pm

    The stock barometer slid to its worst level for this year on Wednesday as uncertainties over the country’s lockdown protocols in Metro Manila and neighboring provinces increased investors’ risk aversion. Tumbling for the fourth straight session, the main-share Philippine Stock Exchange index (PSEi) fell by 59.46 points, or 0.94 percent, to close at 6,299.69 in The post Worst day of the year so far for PH stocks appeared first on Inquirer Business.

  • SMIC Q1 profit up by 5%
    by clopez on May 5, 2021 at 9:14 pm

    The country’s largest conglomerate SM Investments Corp. (SMIC) grew its first-quarter net profit by 5 percent year-on-year to P9.5 billion, buoyed by higher earnings contributed by its banking and retail businesses. The retail business saw a 36-percent year-on-year improvement in three-month net profit to P1.6 billion as belt-tightening measures amid the prolonged pandemic made up The post SMIC Q1 profit up by 5% appeared first on Inquirer Business.

  • The generosity of the street vendor and many others
    by clopez on May 5, 2021 at 9:12 pm

    Community pantries respond to the physical hunger of people and a simple desire to share goods, but also are a powerful sign of hope awakening the spirit of kindness in all of us,” says the Society of Jesus Social Apostolate Commission. “They serve as testimonies to the good that comes from empowering communities and promoting The post The generosity of the street vendor and many others appeared first on Inquirer Business.

  • PAL wants deal with creditors before filing for bankruptcy
    by clopez on May 5, 2021 at 9:10 pm

    MANILA, Philippines — Philippine Airlines (PAL) was moving closer to filing Chapter 11 creditor protection in the United States, joining other global carriers in safeguarding assets during the severe business downturn caused by the COVID-19 pandemic. Citing data from Cirium, online aviation news and information website FlightGlobal reported that PAL was seeking a restructuring agreement The post PAL wants deal with creditors before filing for bankruptcy appeared first on Inquirer Business.

  • Govt launches roadmap for AI
    by Anna Leah E. Gonzales on May 5, 2021 at 4:24 pm

    The government on Wednesday launched the country’s artificial intelligence (AI) roadmap that aims to make the Philippines an AI center of excellence in the region. Trade Secretary Ramon Lopez in his speech during the virtual launch, said that a report released by research firms EDBI and Kearney said that AI is expected to boost Philippine

  • 12,000 MSMEs benefit from guarantee program
    by Mayvelin U. Caraballo, TMT on May 5, 2021 at 4:22 pm

    More than 12,000 viable, but coronavirus disease 2019 pandemic-hit micro, small and medium enterprises (MSMEs) have benefitted from the loan guarantee program of the government, according to the Department of Finance (DoF). In a statement on Wednesday, the DoF said this was based on the report of Philippine Guarantee Corp. (PhilGuarantee) President and Chief Executive

  • Microinsurance covers 50M lives at end-2020
    by Mayvelin U. Caraballo, TMT on May 5, 2021 at 4:21 pm

    Lives covered by microinsurance have surpassed the 50- million mark as of the end of last year, according to the Insurance Commission (IC). Citing unaudited Quarterly Reports on Selected Financial Statistics (QRSFS) from microinsurance providers, particularly mutual benefit associations (MBAs) and life and non-life insurance companies, the IC said the total estimated number of lives

  • DA intensifies border control to ensure food safety 
    by The Manila Times on May 5, 2021 at 4:20 pm

    THE Department of Agriculture (DA) said it is working for the implementation of intensified and stricter first border inspection and control procedures to ensure that all imported food items and other agri-fishery related products will be monitored for safety. In it DA Memorandum Order No. 30 dated April 29, 2021, Agriculture Secretary William Dar reiterated

  • PH stays out of Europe Commission’s IP watchlist
    by Anna Leah E. Gonzales on May 5, 2021 at 4:18 pm

    The Philippines remained out of the European Commission’s (EC) list of countries that pose concerns to the intellectual property (IP) interests of businesses in the European Union (EU), the Intellectual Property Office of the Philippines (Ipophl) said. In a statement on Wednesday, Ipophl said the EC’s watchlist is part of a biennial staff working document

  • SMFB recovers, profit up 66% in first quarter
    by Faye Almazan on May 5, 2021 at 4:17 pm

    Ang-led San Miguel Food and Beverage Inc. (SMFB) returned to profitability with a 66-percent higher income of P9.68 billion in January to March. The listed firm in a statement said its consolidated sales also climbed 11 percent year-on-year to P76.36 billion during the period. San Miguel Brewery Inc. (SMB) saw an improved net income of P5.46

  • LNG investments face some risks
    by Eireene Jairee Gomez on May 5, 2021 at 4:15 pm

    A new report from the Institute for Energy Economics and Financial Analysis (IEEFA) revealed that investments in developing liquified natural gas (LNG) facilities in the country will face negligible development risks, particularly exposure to $14 billion in stranded assets, amid regulatory and financial uncertainty in the Philippines market. Sam Reynolds, the report’s author and IEEFA

  • Semirara Mining income UP 92% IN Q1
    by Eireene Jairee Gomez on May 5, 2021 at 4:14 pm

    SEMIRARA Mining and Power Corp. (SMPC) reported a 92-percent increase in its consolidated net income for the first three months of 2020, reaching P2.3 billion as against the P1.2 billion recorded in the same period a year ago. In a disclosure to the Philippine Stock Exchange, the Consunji-led firm said consolidated revenues likewise went up

  • MPIC core income down 26% in Q1
    by Faye Almazan on May 5, 2021 at 4:13 pm

    The consolidated core net income of Metro Pacific Investments Corp. (MPIC) fell by 26 percent to P2.5 billion in the last quarter due to reduced toll road traffic and capacity of light rail services, and lower demand for water and power. The attributable income of the Pangilinan-led firm, however, surged by 272 percent to P7

  • When it comes to solar energy, more is more
    by Ben Kritz on May 5, 2021 at 4:12 pm

    OVERCAPACITY is not an idea that the energy industry or regulators can comfortably embrace, but it might be the solution that makes solar energy a viable alternative to coal and other fossil fuels for the country’s main source of power. The traditional knock against solar power is that it is unavoidably non-continuous; it doesn’t work

  • Making it happen in the time of COVID-19, The Airspeed Way
    by bdiaz on May 5, 2021 at 6:47 am

    In the Philippines’ highly competitive logistics industry and amid the global pandemic, Airspeed has continued to spread its wings. Since Airspeed was established in 1985, the company’s aim is to help clients in building and growing their businesses by providing them with the highest quality logistics services and innovative end-to-end solutions. By staying true to The post Making it happen in the time of COVID-19, The Airspeed Way appeared first on Inquirer Business.

  • Danilyn’s celebrates 30th year by re-imagining homes and offices for today’s new normal
    by bdiaz on May 5, 2021 at 5:16 am

    The pandemic has forced Filipinos to spend significantly more time at home, thus drastically altering the way we live. Even the way spaces at home is needed have changed. One’s home has become an integral part of a person’s overall well-being. It is no longer just a place to return to after a long day. The post Danilyn’s celebrates 30th year by re-imagining homes and offices for today’s new normal appeared first on Inquirer Business.

  • Pfizer sees COVID-19 as ‘durable’ revenue stream as profits rise
    by dlejano on May 5, 2021 at 3:48 am

    NEW YORK — Pfizer sharply increased its 2021 profit projections on Tuesday, citing much higher Covid-19 vaccine sales which are on track to provide a “durable” revenue stream in the wake of the pandemic. The drugmaker reported a jump in first-quarter profits based on surging revenues, with nearly one-fourth of sales coming from Covid-19 vaccines. The post Pfizer sees COVID-19 as ‘durable’ revenue stream as profits rise appeared first on Inquirer Business.

  • Second chances: Inspiring stories from The Good Guys Bazaar
    by bdiaz on May 5, 2021 at 3:00 am

    “Positive energy is like muscle. The more you use it, the stronger it gets. The stronger it gets, the more powerful you become.” – American author Jon Gordon From the outside, The Good Guys Bazaar looks just like any other bazaar you would see in a mall: sellers selling different kinds of stuff, from food The post Second chances: Inspiring stories from The Good Guys Bazaar appeared first on Inquirer Business.

  • Organic agriculture in PH: No funding, no plans
    by Dennis Maliwanag on May 5, 2021 at 12:47 am

    MANILA, Philippines—The Philippines institutionalized organic agriculture through Republic Act No. 10068, or the Organic Agricultural Act of 2010. The law was recently amended by Republic Act No. 11511 which introduced these provisions: Nationwide educational and awareness campaign on the benefits of consuming organic products Adoption of the Participatory Guarantee System (PGS) as a community of The post Organic agriculture in PH: No funding, no plans appeared first on Inquirer Business.

  • PH set to get 3 more World Bank loans worth $565M
    by besguerra on May 4, 2021 at 8:10 pm

    The World Bank is set to approve three more loans totaling $565 million this year for Philippine projects expected to not only aid in economic recovery but also ensure resiliency post-pandemic. The latest documents showed that the Washington-based multilateral lender’s board was scheduled to approve the $300-million Philippines seismic risk reduction and resilience project on The post PH set to get 3 more World Bank loans worth $565M appeared first on Inquirer Business.

  • PH urges ADB to beef up loan portfolio amid prolonged pandemic
    by besguerra on May 4, 2021 at 8:09 pm

    President Duterte’s chief economic manager has urged the Asian Development Bank (ADB) to raise its capital to boost its lending portfolio to member-countries amid a protracted fight against COVID-19 and enjoin private-sector investments in vaccine production. On behalf of the Philippine government, Finance Secretary Carlos Dominguez III told the ADB governors’ seminar on Monday night The post PH urges ADB to beef up loan portfolio amid prolonged pandemic appeared first on Inquirer […]

  • Meat importers want gov’t to keep low pork tariffs up to 2025
    by besguerra on May 4, 2021 at 8:08 pm

    The Meat Importers and Traders Association (Mita) wants the low tariff levels to stay up to 2025. In a letter sent to Senate President Vicente Sotto III on Monday, Mita said the “compromise rate” to be agreed upon by farmer groups and traders must be implemented for the next five years if the government wanted The post Meat importers want gov’t to keep low pork tariffs up to 2025 appeared first on Inquirer Business.

  • Heavy foreign selling depresses market; index down
    by besguerra on May 4, 2021 at 8:04 pm

    The sluggish mood persisted at the local stock market on Tuesday as investors worried about how long the so-called National Capital Region Plus will remain under strict lockdown protocols. The Philippine Stock Exchange index (PSEi) slipped by 10.13 points or 0.16 percent to close at 6,359.15, declining for the third straight session. Local stock brokerage The post Heavy foreign selling depresses market; index down appeared first on Inquirer Business.

  • Aussie mining firms keen on doing business in PH
    by besguerra on May 4, 2021 at 8:03 pm

    Some Australian mining companies have expressed interest in mining across the Philippines, an envoy said, adding that the recent lifting of the nine-year ban on new mining projects opened doors for the future of responsible and world-class mining. Australia’s Ambassador to the Philippines Steven Robinson said that mining, if done responsibly using the most modern The post Aussie mining firms keen on doing business in PH appeared first on Inquirer Business.

  • Peza presses lifting of ban on new ecozones in NCR
    by besguerra on May 4, 2021 at 8:02 pm

    The Philippine Economic Zone Authority (Peza) has asked President Duterte to lift the ban on new economic zones in Metro Manila that had discouraged call center companies from either setting up shop or expanding in the capital. Peza Director General Charito Plaza told Pres. Duterte in a May 3 letter that it was time to The post Peza presses lifting of ban on new ecozones in NCR appeared first on Inquirer Business.