Pinoy Business News

Pinoy Business News

  • PH export growth weakens despite strong economic growth
    by ABS-CBN News on July 19, 2019 at 6:45 pm

    Three years into the Duterte administration, the government is keen on maintaining its growth projections for the economy. […]

  • Salary, prices, employment among top issues Filipinos want tackled in Duterte's 2019 SONA
    by ABS-CBN News on July 19, 2019 at 6:40 pm

    As President Rodrigo Duterte's 4th State of the Nation Address approaches, a recent poll showed Filipinos want the chief executive to discuss issues on employment, rising food prices, and even maritime disputes with China. […]

  • BSP seen to further cut rates as inflation cools
    by ABS-CBN News on July 19, 2019 at 6:14 pm

    The Philippine central bank is expected to further cut interest rates as the country's inflation continues to ease. […]

  • Mayor Isko: Business permits in Manila to be released in 1 day
    by ABS-CBN News on July 19, 2019 at 6:02 pm

    MANILA—Manila Mayor Isko Moreno said Friday Manileños could now secure their business permits in one day to promote ease of doing business in the nation's capital. &nbs […]

  • Hatchbacks puwede nang mamasada bilang TNVS units
    by ABS-CBN News on July 19, 2019 at 4:25 pm

    Pero ang mga kumukuha ng pansamantalang permit sa LTFRB, dusa naman sa mahabang pila. […]

  • Customs gears up to join the Asean Single Window
    by Mary Grace Padin on July 19, 2019 at 4:00 pm

    The Bureau of Customs (BOC) is undertaking several reforms to improve its processes and operations in preparation for the country’s participation in the ASEAN Single Window (ASW) this year, according to a top official. […]

  • Lufthansa Technik plans $40-M expansion of Villamor facility
    by Louella Desiderio on July 19, 2019 at 4:00 pm

    Aircraft maintenance, repair and overhaul (MRO) service provider Lufthansa Technik Philippines (LTP) is planning a $40-million expansion project at its existing facility in Pasay City, the Department of Trade and Industry (DTI) said. […]

  • DBCC revises 2019 economic targets
    by Mary Grace Padin on July 19, 2019 at 4:00 pm

    The inter-agency Development Budget Coordination Committee (DBCC) has slashed its domestic inflation forecast for 2019 following the implementation of measures to cut down food prices. […]

  • Share prices stall ahead of 4th SONA
    by Iris Gonzales on July 19, 2019 at 4:00 pm

    Share prices were almost unchanged yesterday, ending 12.02 points, or 0.14 percent, higher at 8,270.07 as investors adopted a wait and see stance ahead of President Duterte’s State of the Nation Address. […]

  • Industry groups urge Congress to consider alternative PEZA perks
    by Louella Desiderio on July 19, 2019 at 4:00 pm

    With the Tax Reform for Attracting Better and Higher Quality Opportunities (TRABAHO) bill likely to be refiled at the 18th Congress, industry groups representing ecozone developers and locators urge legislators to consider alternative incentives for firms registered with the Philippine Economic Zone Authority (PEZA). […]

  • BSP sees inflation further easing by year-end
    by Lawrence Agcaoili on July 19, 2019 at 4:00 pm

    The Bangko Sentral ng Pilipinas (BSP) said inflation would ease further toward the end of the year as food prices continue to soften and as the impact of recent monetary prices adjustments kick in. […]

  • NAIA Consortium submits new plan using Clark model
    by Richmond Mercurio on July 19, 2019 at 4:00 pm

    The consortium of seven conglomerates planning to rehabilitate the congested Ninoy Aquino International Airport (NAIA) has submitted a proposal patterned after the Clark International Airport operations and maintenance contract to comply with the government’s order. […]

  • BOP swings to $404-M deficit in June
    by Lawrence Agcaoili on July 19, 2019 at 4:00 pm

    The country’s balance of payments (BOP) registered a deficit in June, ending seven straight months of surpluses, due to substantial outflows stemming from the payment of foreign obligations by the national government, according to the Bangko Sentral ng Pilipinas. […]

  • 7-Eleven sets aside P3.5 B for expansion
    by Iris Gonzales on July 19, 2019 at 4:00 pm

    Philippine Seven Corporation (PSC), the exclusive licensor of 7-Eleven in the Philippines, is setting aside P3.5 billion in capital expenditures this year to fund expansion, officials said yesterday. […]

  • Tan returns to YGC, named HI head
    by Iris Gonzales on July 19, 2019 at 4:00 pm

    Banker Lorenzo Tan is back with the Yuchengco Group after resigning as president and CEO of Rizal Commercial Banking Corp. in 2016 in the midst of the $81 million money laundering issue that rocked the country and the bank at the time. […]

  • Dissecting Data: 3 years into 'Dutertenomics'
    by ABS-CBN News on July 19, 2019 at 2:31 pm

    After a challenging second year in office, Dutertenomics has turned things around despite challenges within, and without. […]

  • Nex Tower wins ULI Asia Pacific award for excellence
    by ABS-CBN News on July 19, 2019 at 2:24 pm

    Nova group's 'Nex Tower' bags the prestigious Urban Land Institute Asia Pacific Award for excellence. They're banking on providing the best human experience in their projects. […]

  • BOP yields $4.8-B surplus in first half after deficit in June
    by MB Business on July 19, 2019 at 2:00 pm

    The Bangko Sentral ng Pilipinas (BSP) reported a lower balance of payments (BOP) surplus of $4.788 billion in the first six months after incurring a shortfall for the month of June. […]

  • GenCos urged to offer ‘least cost’ in Meralco supply tendering
    by MB Business on July 19, 2019 at 2:00 pm

    With several power supply agreements (PSAs) expiring this year, power utility giant Manila Electric Company (Meralco) is soliciting PSA tenders for aggregate capacity of 2,900 megawatts both from existing power facilities and then greenfield projects due to come on stream by year 2024. […]

  • BSP continues to see favorable inflation outlook
    by MB Business on July 19, 2019 at 2:00 pm

    Bangko Sentral ng Pilipinas (BSP) Deputy Governor Francisco G. Dakila Jr. said monetary policy stance next month could move depending on the data that will support it, namely the July inflation, the second quarter GDP growth and the US Federal Open Market Committee action or non-action in two weeks. […]

  • Do you have sleeping problems?
    by MB Business on July 19, 2019 at 2:00 pm

    Many of us experience an occasional sleepless night. But we worry when we persistently experience difficulty to fall asleep or difficulty to stay asleep or both. This persistent sleep disorder is more commonly known as insomnia and the people suffering from insomnia are known as insomniacs. […]

  • DOTr sets Swiss Challenge bids deadline for Bulacan airport
    by MB Business on July 19, 2019 at 2:00 pm

    The Department of Transportation (DOTr) is ready to open the Swiss challenge bids for the P735 billion airport New Manila International Airport (NMIA) in Bulacan at the end of this month (July 31, 2019), Secretary Arthur Tugade announced in yesterday’s round table conference at the Manila Bulletin headquarters in Intramuros, Manila. […]

  • RLC opens 52nd mall, its biggest in Calabarzon
    by MB Business on July 19, 2019 at 2:00 pm

    Robinsons Land Corporation (RLC), the real estate development arm of the Gokongwei group, has further beefed up its formidable portfolio of leasing assets with the opening of its 52nd mall in the country. […]

  • Banks’ lending standards remain unchanged – BSP survey reveals
    by MB Business on July 19, 2019 at 2:00 pm

    Banks’ credit standards have not changed since 2009 for loans to businesses and households mostly, according to the Bangko Sentral ng Pilipinas’ (BSP) latest Senior Bank Loan Officers’ Survey (SLOS). […]

  • GERI opens Boracay Belmont hotel
    by MB Business on July 19, 2019 at 2:00 pm

    Global-Estate Resorts, Inc. (GERI), a subsidiary of urban township developer Megaworld Corporation, is opening its second hotel development inside the 150-hectare Boracay Newcoast. […]

  • Management transition at DA worries agri groups
    by MB Business on July 19, 2019 at 2:00 pm

    Different agriculture groups, including Samahang Industriya ng Agrikultura (SINAG) and United Broiler Raisers Association, expressed their fear about the Department of Agriculture (DA) losing momentum on its implementation of African Swine Fever (ASF) quarantine protocols with its forthcoming transition in leadership. […]

  • Recto seeks cap on PH debt
    by Dharel Placido, ABS-CBN News on July 19, 2019 at 1:05 pm

    MANILA - Sen. Ralph Recto filed a bill seeking to put a cap on the Philippines’ debt at 50 percent of the gross domestic product. […]

  • Economic indicators 3 years into Duterte presidency
    by Edson Guido, ABS-CBN News on July 19, 2019 at 12:35 pm

    The country's gross domestic product (GDP) growth of 5.6 percent for the first quarter of 2019 was the lowest in 4 years, since the first quarter of 2015's 5.1 percent. It ended the 15 consecutive quarters of at least 6 percent growth. […]

  • Proposal for a P20 coin needs 'in-depth' deliberation, study: BSP
    by ABS-CBN News on July 19, 2019 at 12:19 pm

    The Bangko Sentral ng Pilipinas on Friday said replacing the P20 bill with a coin entails "extensive and in-depth" deliberation amid reports that a coin version of one of the most common denominations could be released before the year ends. […]

  • Oil price rises on Mideast tensions, stock markets cautious
    by Carmela Martinez on July 19, 2019 at 12:08 pm

    BANGKOK — The price of oil rose on Friday after the US said it had destroyed an Iranian drone near the Persian Gulf, where a lot of the world's oil is shipped through. Stock markets were largely stable as investors monitor earnings and the ongoing trade talks between China and the US. […]

  • PSEi extends bull market rally
    by ABS-CBN News on July 19, 2019 at 10:48 am

    Philippine shares extend their bull run for a second day, rising along Asian peers. The main index also manages to eke out gains for a third straight week. […]

  • Dissecting Data: Cracks in PH economy
    by ABS-CBN News on July 19, 2019 at 10:40 am

    The economy slowed down for 2 straight years due to weaker consumption and a slowdown in remittances and the business process outsourcing sector, among others. […]

  • Dissecting Data: Philippine economy under Duterte
    by ABS-CBN News on July 19, 2019 at 8:51 am

    How did the country's economy perform under 3 years of President Rodrigo Duterte in terms of foreign direct investment, gross domestic product growth and employment? […]

  • Grab testing special service for families, pets
    by ABS-CBN News on July 19, 2019 at 8:33 am

    GrabFamily offers extra amenities such as a child seat for groups traveling with children, the ride-firm said in a blog post. […]

  • Bangko Sentral seen to cut rates further as inflation cools
    by ABS-CBN News on July 19, 2019 at 8:27 am

    The Bangko Sentral ng Pilipinas is expected to further cut interest rates. At least one economist sees recent inflation data prompting that move. […]

  • US-China officials discuss trade; Mnuchin eyes possible in-person talks
    by Carmela Martinez on July 19, 2019 at 4:07 am

    CHANTILLY, France/WASHINGTON - US and Chinese officials spoke by telephone on Thursday as the world’s two largest economies seek to end a year-long trade war, with US Treasury Secretary Steven Mnuchin suggesting in-person talks could follow. […]

  • Facebook’s Libra gets stark warning from G-7 finance chiefs
    by Carmela Martinez on July 19, 2019 at 3:53 am

    CHANTILLY, France — Finance chiefs from the Group of Seven rich democracies issued a stark warning on Thursday that cryptocurrencies like the Libra digital money recently unveiled by Facebook should not be allowed before "serious regulatory and systemic concerns" are addressed. […]

  • Profit soars for Microsoft fueled by cloud, business services
    by Noreen Jazul on July 19, 2019 at 2:08 am

    Microsoft on Thursday posted quarterly earnings that trounced expectations, citing growth in partnerships with companies on technology and cloud computing services. […]

  • Southwest Airlines again pushes back 737 MAX return date
    by Noreen Jazul on July 19, 2019 at 2:08 am

    Southwest Airlines on Thursday again pushed back its target date for returning the Boeing 737 MAX to service, citing uncertainty about when regulators will permit the jet to fly. […]

  • Fed’s Williams: central bank should ‘act quickly’ during ‘distress’
    by Noreen Jazul on July 19, 2019 at 2:07 am

    Central banks should move quickly to address economic pains when interest rates are already low, the president of the New York Federal Reserve Bank said Thursday. […]

  • Analysts see 2.9% inflation for 2019
    by MB Business on July 18, 2019 at 2:00 pm

    Analysts expect lower inflation of 2.9 percent for this year and 3.1 percent for 2020, based on the latest results of the Bangko Sentral ng Pilipinas (BSP) survey of private economists which was one of the data used by the Monetary Board during its last policy meeting. […]

  • Philseven raise capex by 25% to P3.5 billion
    by MB Business on July 18, 2019 at 2:00 pm

    Philippine Seven Corporation, the master franchise holder of 7-Eleven stores in the country, is raising its capital expenditure budget by 25 percent to P3.5 billion in 2019 from P2.8 billion last year as it continues to expand and improve its store network. […]

  • Welcome back
    by MB Business on July 18, 2019 at 2:00 pm

    As a golfer and a tennis player, for Mr. Sanjiv Vohra the Philippines is a sweet spot in his banking career spanning more than three decades. His love affair with the country started almost 33 years ago. Six months after the 1986 EDSA revolution, he along with two other new recruits from New Delhi, India, joined 17 others for a month-long Citibank management training here. This was in August, 1986. […]

  • Cirtek Holdings bags P357-M tech deals
    by MB Business on July 18, 2019 at 2:00 pm

    Cirtek Holdings Philippines Corporation expects to boost revenues by P357 million annually after two of its subsidiaries bagged new manufacturing deals — including the production of components for 5G wireless systems. […]

  • Grab and Splyt partner to get a ride anywhere
    by MB Business on July 18, 2019 at 2:00 pm

    Grab, Southeast Asia’s leading everyday super app and Splyt Technologies, the London-based, global mobility marketplace, have announced an enhanced collaboration to give travellers convenient access to ride-hailing services anywhere in the world. […]

  • June hot money net outflows total $36 million
    by MB Business on July 18, 2019 at 2:00 pm

    The central bank said foreign portfolio investments in June was still in net outflows of $35.72 million but lower than May’s $750 million withdrawals. […]

  • Kazou Okada loses claim over gaming empire with Tokyo High Court ruling
    by MB Business on July 18, 2019 at 2:00 pm

    The Tokyo High Court has shut the door on Japanese pachinko king Kazuo Okada’s attempts to regain control over his former gaming empire. […]

  • With no 737 MAX exposure, Delta reports banner quarter
    by MB Business on July 18, 2019 at 2:00 pm

    Delta Air Lines rode strong consumer travel demand to banner earnings last quarter, benefiting from the company's lack of exposure to Boeing's grounded 737 MAX planes. […]

  • United post higher earnings despite Boeing MAX crisis
    by MB Business on July 18, 2019 at 2:00 pm

    United Continental reported higher second-quarter profits as strong demand for flying offset the hit from the ground of the Boeing 737 MAX planes. […]

  • ERC prescribes adjusted market share limits for GenCos
    by MB Business on July 18, 2019 at 2:00 pm

    The Energy Regulatory Commission (ERC) has prescribed adjusted limits of power capacity that generation companies (GenCos) can own or have control on the dispatch or market share on power facilities. […]

  • PAL to continue overseas route expansion, will keep London service
    by MB Business on July 18, 2019 at 2:00 pm

    Philippine Airlines (PAL) considers expanding to new US routes and intends to continue servicing London, according to the flag carrier's statement issued on July 18, 2019. […]

  • UPS enhances Asia Pacific trade connectivity
    by MB Business on July 18, 2019 at 2:00 pm

    Logistics firm UPS invested in Smart Logistics Network to make global commerce easier for Asia Pacific clients, improving services in 41 countries and territories in the region so they can connect worldwide to over 22 million businesses. […]

  • ADB cuts PH growth forecast for 2019 due to budget delay
    by MB Business on July 18, 2019 at 2:00 pm

    The Asian Development Bank (ADB) lowered this year’s economic growth forecast for the Philippines owing to budget delay while it expects further slowdown in the rate of increase in consumer prices. […]

  • Ecozone firms seek incentives status quo
    by MB Business on July 18, 2019 at 2:00 pm

    As the new Congress opens next week, economic zone industry groups, which employ 7.7 million direct and indirect workers, banded together to ask the new set of legislators to look for alternative fiscal strategies as they painted grim picture the current TRABAHO Bill may bring on jobs, foreign direct investments, and attractiveness of ease of doing business in the country. […]

  • Pakistan price squeeze hits middle class as well as poor
    by Richa Noriega on July 18, 2019 at 9:58 am

    ISLAMABAD - Prime Minister Imran Khan’s government faces mounting pressure as rising prices and tough austerity policies under Pakistan’s latest bailout from the International Monetary Fund are squeezing the middle class that helped carry it to power. […]

  • Economic team adjusts inflation forecast in 2019
    by MB Business on July 18, 2019 at 9:53 am

    The inter-agency Development Budget Coordination Committee (DBCC) adjusted downward the national government’s inflation forecast while maintaining its economic growth projection. […]

  • Madagascar vanilla crop quality suffers as thieves spark violence
    by Richa Noriega on July 18, 2019 at 9:50 am

    MAROVATO, Madagascar - Rocketing vanilla prices bought Madagascan farmer Berlin Ranary a hot pink sofa, a motorbike - and a double-barreled shotgun to protect his crop. […]

  • Villar’s AllHome eyes P20.7-B IPO
    by MB Business on July 18, 2019 at 8:52 am

    AllHome Corporation, billionaire Manuel B. Villar’s nationwide chain of home improvement and builders’ centers, is planning to raise up to P20.7 billion from a planned initial public offering. […]

  • Substation glitch triggers Makati, BGC brownouts
    by MB Business on July 18, 2019 at 8:48 am

    A technical fault in the Gardner substation of Manila Electric Company (Meralco) in Muntinlupa had caused power interruptions of roughly 40 minutes primarily in Makati and Bonifacio Global City (BGC) business districts. […]

  • US hopes China to undo backtracking on trade: official
    by Noreen Jazul on July 18, 2019 at 2:04 am

    US officials hope China will reverse its decision to backtrack on commitments it made in the effort to settle the ongoing trade conflict, Commerce Secretary Wilbur Ross said Wednesday. […]

  • Netflix shares slide on disappointing Q2 subscriber growth
    by Noreen Jazul on July 18, 2019 at 2:04 am

    Netflix shares plunged in after-hours trade Wednesday after its quarterly update showed weaker-than-expected subscriber growth for the streaming television sector leader. […]

  • Netflix to roll out cheaper mobile-only plan in India
    by Noreen Jazul on July 18, 2019 at 2:02 am

    Netflix Inc said on Wednesday it would roll out a lower-priced mobile-only plan in India, tapping into a price-sensitive market where data consumption on smartphones is surging. […]

  • France defiant in digital tax showdown with US at G7
    by Noreen Jazul on July 18, 2019 at 2:01 am

    France on Wednesday said it would push ahead with its law to tax tech giants that has sparked a row with the United States, saying that an international accord was the only way to solve the dispute. […]

  • Japanese official says negotiators working hard on US-Japan trade deal
    by Noreen Jazul on July 18, 2019 at 1:56 am

    US and Japanese officials are working hard to reach agreement on a bilateral trade agreement, a senior Japanese official told Reuters on Wednesday, adding he was looking forward to news on the deal in the near future. […]

  • Japan urges G7 to think beyond existing rules in dealing with Libra
    by Noreen Jazul on July 18, 2019 at 1:55 am

    Japanese Finance Minister Taro Aso on Wednesday urged his G7 counterparts to make a comprehensive assessment of Facebook Inc’s Libra digital currency for any fresh challenges that could be overlooked by existing regulations. […]

  • G7 finance chiefs pour cold water on Facebook’s digital coin plans
    by Noreen Jazul on July 18, 2019 at 1:52 am

    Group of Seven finance chiefs cast a cloud over prospects for Facebook’s Libra digital coin on Wednesday, insisting tough regulatory problems would have to be worked out first. […]

  • Powertrends slated at SMX on Sept. 3-4
    by MB Business on July 17, 2019 at 2:00 pm

    Powertrends, the longest running energy exhibition in the Philippines, organized since 1995 by Leverage International, in cooperation with the Department of Energy will be held on September 3-4 2019 at the SMX Convention Center, Metro Manila, Philippines. […]

  • TDF rates are higher this week; P80 B sold
    by MB Business on July 17, 2019 at 2:00 pm

    Yields of the central bank’s weekly term deposit facility (TDF) were up this week while demand was more moderate with higher offers. […]

  • Billions at stake
    by MB Business on July 17, 2019 at 2:00 pm

    The hosting of an international event brings prestige to the host country when it turns out to be a success. Citizens of the nation that organized the momentous gathering would usually reap long-term economic benefits amounting to billions of dollars resulting from the successful hosting. […]

  • 2019 pre-SONA economic and infrastructure forum
    by MB Business on July 17, 2019 at 2:00 pm

    At the 2019 Pre-SONA Economic and Infrastructure Forum on July 1, Secretary of Finance Carlos Dominguez presented the updates of the Economic Development Cluster “Game Changing Reforms for Sustainable Development.” The ultimate goal is to Bring Down Poverty Rates from 21.6% in 2015 to 14% by 2022 and to Create More Opportunities. […]

  • Israeli company targets Palawan, Panay basins for oil/gas exploration
    by MB Business on July 17, 2019 at 2:00 pm

    Israeli firm Ratio Petroleum Ltd. is targeting oil and gas exploration blocks along Palawan and Panay basins, according to sources from the Department of Energy (DOE). […]

  • IRR on Anti-Red Tape Law issued, erring gov’t officials face penalties
    by MB Business on July 17, 2019 at 2:00 pm

    The Implementing Rules and Regulations of the Ease of Doing Business and Efficient Government Service Delivery Act of 2018 was signed yesterday setting clear 3-7-20-day deadlines, depending on the complexity of the transaction, to approve and act an application for permits or face penalties in a heightened effort to eliminate redtape and corruption in government. […]

  • DTI seeks P16-B budget for financing MSMEs over 4 years
    by MB Business on July 17, 2019 at 2:00 pm

    The Department of Trade and Industry (DTI) is batting for P16-billion budgetary allocation over a four-year period to institutionalize affordable financing for micro, small and medium enterprises (MSMEs). […]

  • GenSan court dismisses KAPA suit vs SEC
    by MB Business on July 17, 2019 at 2:00 pm

    The Regional Trial Court Branch 35 of General Santos City has dismissed a suit filed by Kapa-Community Ministry International, Inc. (KAPA) to prevent the Securities and Exchange Commission (SEC) from shutting the firm down. […]

  • BOI revising MVDP to include e-vehicles
    by MB Business on July 17, 2019 at 2:00 pm

    The Board of Investments (BOI) is reviewing the outdated Motor Vehicle Development Plan (MVDP) to attract more models to be assembled in the Philippines including electric vehicles (EVS) as the government prepares a holistic support for this program to boost its bid to make the Philippines a regional production hub for this clean motor vehicles. […]