Pinoy Business News

Pinoy Business News

  • Surety program benefits 17k firms
    by Mayvelin U. Caraballo, TMT on May 13, 2021 at 4:40 pm

    More than 17000 micro, small and medium enterprises (MSMEs) have benefitted from the loans provided under the public-private credit program Credit Surety Fund, according to the Bangko Sentral ng Pilipinas (BSP). In a virtual briefing on Wednesday, BSP Governor Benjamin Diokno reported that as of end-2020, an estimated 17,527 MSME borrowers have benefited under the

  • Maynilad allots P29B for treatment plants
    by Jordeene B. Lagare on May 13, 2021 at 4:38 pm

    Maynilad Water Services, Inc. said on Thursday it is constructing several sewage treatment plants (STPs) amounting to more than P29 billion. In a statement, Maynilad said these treatment facilities will rise in Caloocan, Las Piñas, Central Manila, Valenzuela, and Muntinlupa. The Caloocan-Malabon-Navotas (Camana) and Las Piñas Water Reclamation Facilities will contribute around 16-percent additional sewerage

  • Metro Retail books loss in Q1
    by Faye Almazan on May 13, 2021 at 4:37 pm

    Cebu-based retailer Metro Retail Stores Group Inc. (MRSGI) remained unprofitable in the first quarter due to low customer traffic and prioritization of essential goods. In a disclosure to the exchange on Wednesday, the listed firm reported a P126.47-million loss in January to March, reversing its almost P8-million income in the same period last year. Metro

  • New 2GO vessel sets sail on May 23
    by Jordeene B. Lagare on May 13, 2021 at 4:36 pm

    The maiden voyage of 2GO Group Inc.’s new passenger vessel from Japan is slated for May 23, according to the company’s executive. “Our target is to sail it by May 23,” said 2GO Chief Operating Officer Waldo Basilla in a virtual briefing, adding it will sail to Cebu and Cagayan de Oro. Basilla was referring

  • GCash expands services, apps
    by Faye Almazan on May 13, 2021 at 4:34 pm

    Financial app GCash broadened its platform as it introduced new products and services geared towards lifestyle, entrepreneurship, financial services and social impact. In a virtual briefing on Wednesday, GCash President and Chief Executive Officer Martha Sazon said the e-wallet saw an almost doubled user base from more than 20 million in January last year to

  • URC still focused on growth
    by Faye Almazan on May 13, 2021 at 4:32 pm

    Gokongwei-led Universal Robina Corp. (URC) highlighted that they are focusing on both revenue and profit growth, its executive said. During the company’s annual meeting on Thursday, URC President and Chief Executive Officer Irwin Lee said the company is “growth-oriented” and would continue focusing on growth. “In our base business, adding new adjacencies and innovating to

  • LandBank launches mobile account opening service
    by Mayvelin U. Caraballo, TMT on May 13, 2021 at 4:31 pm

    Land Bank of the Philippines (LandBank) clients can now successfully open a savings account with the state-owned lender using their mobile phone at their own safety and convenience without the need to go to a branch. Launched on Wednesday, LandBank’s Digital On-Boarding System Mobile or DOBS Mobile facilitates online savings account opening in as fast

  • Public owns 33.32% of FEU’s outstanding stocks but don’t have a board seat
    by Emeterio SD. Perez on May 13, 2021 at 4:30 pm

    Far Eastern University Inc. (FEU) has nine directors or trustees who make up its board. Lourdes R. Montinola is the chairman emeritus who has 11,627 common shares, or 0.048 percent of 24,055,763 outstanding common shares. Meanwhile, Aurelio R. Montinola 3rd, who has 458,165 common shares directly owned and 6,656 common shares indirectly owned for a

  • This too shall pass
    by BENEL D. LAGUA on May 13, 2021 at 4:28 pm

    The origin of this famous phrase appears to be a Persian adage that reflects on the temporary nature or ephemerality of the human condition. It was notably employed in a speech by Abraham Lincoln in 1859 where he related: “It is said that an Eastern Monarch once charged his wise men to invent him a

  • Rising inflation worries Biden
    by Agence France-Presse on May 13, 2021 at 4:08 pm

    WASHINGTON, D. C.: A larger-than-expected spike in inflation is the latest headache for US President Joe Biden and his bid to use massive government spending to both revitalize and reshape the world’s largest economy. The Labor Department on Wednesday reported consumer prices were 4.2 percent higher last month than in April 2020, their biggest year-on-year

  • Grab expands cloud kitchen concept
    by Richmond Mercurio on May 13, 2021 at 4:00 pm

    Grab has expanded its cloud kitchen concept, adding two new locations as part of the company’s efforts to bring convenience to customers and help more restaurants grow.

  • Mega vax center
    by Boo Chanco on May 13, 2021 at 4:00 pm

    It is a tempest in a teapot. I am not a fan of this administration’s COVID response. But when they want to do something right, we should cheer them on.

  • The social media imperative
    by Roberto R. Romulo on May 13, 2021 at 4:00 pm

    Last week I wrote about how Duterte has been gaslighting us all along. My guest columnist, Liana Romulo, explains how social media is being used to perpetuate these false narratives or in several instances, to present a counter-narrative.

  • Jollibee swings to P153 million profit in Q1
    by Iris Gonzales on May 13, 2021 at 4:00 pm

    Jollibee Foods Corp., the listed Asian food conglomerate, reported a net income of P153 million in the first quarter, a reversal of the P1.7 billion net loss a year ago.

  • PNB profit rises 34% as loan loss provisions tumble
    by Lawrence Agcaoili on May 13, 2021 at 4:00 pm

    Philippine National Bank earned P1.79 billion or 34 percent more in the first quarter amid lower provisions for potential loan losses as the country recovers from the pandemic-induced recession.

  • Philippines to import more rice next year
    by Catherine Talavera on May 13, 2021 at 4:00 pm

    The Philippines is projected to import more rice next year to meet the rising demand for the commodity, according to the United States Department of Agriculture.

  • Loans to MSMEs under CSF near P7 billion
    by Lawrence Agcaoili on May 13, 2021 at 4:00 pm

    Loans released to micro, small and medium enterprises under the credit surety fund are now nearing P7 billion, according to the Bangko Sentral ng Pilipinas.

  • Philippines, UK discuss possible RE investments
    by Czeriza Valencia on May 13, 2021 at 4:00 pm

    The Philippines and the British government are now in talks for possible investments in the renewable energy sector in the country, according to the Department of Finance.

  • Philippines entry into CPTPP gets NZ support
    by Louella Desiderio on May 13, 2021 at 4:00 pm

    The Philippines has secured the support of New Zealand for its accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership.

  • ‘Faster vaccine shots, business reopening crucial to jobs recovery’
    by Elijah Felice Rosales on May 13, 2021 at 4:00 pm

    The Philippines risks losing gains made in recovering jobs lost during the pandemic if it fails to accelerate the vaccination program and resume economic activities on all fronts, economists said yesterday.

  • Meralco unit starts operations of Bulacan solar power plant
    by Danessa Rivera on May 13, 2021 at 4:00 pm

    Meralco Powergen Corp. has renamed its first solar investment to BulacanSol as it commenced commercial operations to provide the Luzon grid with clean and renewable power.

  • BSP backs changes to Agri-Agra Law
    by Lawrence Agcaoili on May 13, 2021 at 4:00 pm

    Further amendments to the mandated loan threshold for the agriculture and agrarian reform activities will push the country into the next stage of development post-pandemic, according to the Bangko Sentral ng Pilipinas.

  • Philippines remittance cost among lowest – World Bank
    by Elijah Felice Rosales on May 13, 2021 at 4:00 pm

    Sending money to the Philippines remains among the cheapest globally, benefiting an economy reliant on remittances sent by overseas Filipino workers, the World Bank said.

  • Robinsons Bank allots P1 billion for capex
    by Lawrence Agcaoili on May 13, 2021 at 4:00 pm

    Robinsons Bank Corp. has earmarked close to P1 billion for its capital expenditures this year, particularly to finance information technology-related projects amid the shift in consumer behavior due to the COVID-19 pandemic.

  • Info handlers to be fined for data privacy breaches
    by Louella Desiderio on May 13, 2021 at 4:00 pm

    The National Privacy Commission will penalize personal information controllers or processors from the private sector for data privacy violations.

  • 'Vaccine pass' para makapasok sa ilang indoor establishments inihihirit
    by ABS-CBN News on May 13, 2021 at 10:49 am

    Itinutulak ng pribadong sektor at ng DTI ang COVID-19 "vaccine passport" para makapasok sa indoor establishments.

  • WB: Low remittance fees kept Filipinos overseas sending money home
    by tbergonia on May 13, 2021 at 9:53 am

    MANILA, Philippines—Remittance fees kept low despite tougher times wrought by the COVID-19 pandemic allowed Filipinos abroad to send money back home, resulting in only a minimal decline in remittance flow in 2020, the World Bank said. The Washington-based multilateral lender’s latest migration and development brief titled “Resilience: COVID-19 Crisis Through a Migration Lens” showed the The post WB: Low remittance fees kept Filipinos overseas sending money home appeared first on […]

  • Presidential power to grant tax incentives coming soon
    by tbergonia on May 13, 2021 at 8:39 am

    MANILA, Philippines—President Rodrigo Duterte will soon have the power to grant hefty fiscal perks to elephant-sized investments as mandated by the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act, with the law’s implementing guidelines expected to be out next week. The draft implementing rules and regulations (IRR) of CREATE’s provisions on tax incentives and The post Presidential power to grant tax incentives coming soon appeared first on Inquirer Business.

  • Taiwan proposes $7.5 B in spending as domestic COVID-19 cases rise
    by Reuters on May 13, 2021 at 8:21 am

    Taiwan's government proposed on Thursday an extra T$210 billion ($7.52 billion) in spending to help the economy deal with the COVID-19 pandemic, as it reported 13 new domestic cases amid a rare spike in infections that has spooked the stock market.

  • Business group backs easing quarantine restrictions, cites 'improving COVID-19 indicators'
    by ABS-CBN News on May 13, 2021 at 8:10 am

    The Management Association of the Philippines agrees that the improving COVID-19 trend in the country could lead to further easing of restrictions, its official said Thursday.

  • Italy fines Google 100M euros for abuse of market position
    by Agence France-Presse on May 13, 2021 at 7:49 am

    Italy's competition authority said Thursday it had fined Google more than 100 million euros ($120 million) for abuse of market position for shutting out a rival's smartphone app offering recharging of electric vehicles.  

  • Dissecting Data: Are COVID-19 cases finally coming down in the Philippines?
    by Warren de Guzman and Edson Guido, ABS-CBN News on May 13, 2021 at 6:51 am

    The Philippine government is once again hinting at easing lockdown restrictions following a drop in new COVID-19 cases. The Philippines has been here before, and sadly lighter lockdown conditions eventually led to the 2021 spike, the worst for the Philippines during this pandemic. Is now the right time to ease restrictions? 

  • US Trade Representative under pressure on Asia-Pacific trade pact
    by Robert Delaney, South China Morning Post on May 13, 2021 at 6:50 am

    The Senate Finance Committee hearing reflects bipartisan support for talks regarding the Comprehensive and Progressive Agreement for Trans-Pacific Partnership. Tai faces backlash for her backing of a proposal to waive coronavirus vaccine patent protections.

  • Razon denies plan to use proposed mega vaccination site to expand casino-resort business
    by ABS-CBN News on May 13, 2021 at 6:37 am

    Billionaire Enrique Razon on Thursday belied allegations that he will use the planned mega vaccination site in Parañaque City to expand Solaire, his resort and casino business.

  • Japan gov't asks businesses to help with vaccination drive: Kyodo
    by Reuters on May 13, 2021 at 5:48 am

    Japan's vaccine chief, Taro Kono, met with a top official of the country's biggest business lobby on Thursday to ask that companies help vaccinate workers, Kyodo News reported.

  • Realme founder plays down impact of India’s COVID-19 crisis on budget smartphone maker
    by Celia Chen in Shenzhen, South China Morning Post on May 13, 2021 at 5:10 am

    India's recent surge in COVID-19 infections is not only a public health tragedy, it is also playing havoc with the country's ambitions to be a smartphone manufacturing superpower and the plans of many Chinese tech companies to ramp up operations there.

  • Digital property management has huge 'scalable' potential in PH: stakeholder
    by ABS-CBN News on May 13, 2021 at 4:40 am

    Inventi said Thursday digital software-based building and properties management has huge potential to grow in the country especially during the pandemic. 

  • Turning tons of plastic waste into building bricks
    by vcatibog on May 13, 2021 at 4:38 am

    Some 28 metric tons of plastic waste, the equivalent of 2.8 million plastic water bottles filling up 73 basketball courts, was recycled into useful eco-products by Ayala Land Inc. (ALI) last year as part of its “circular waste management” initiative.  The plastic waste, which would have otherwise filled up Metro Manila’s dumpsites or find its The post Turning tons of plastic waste into building bricks appeared first on Inquirer Business.

  • Jollibee opens first outlet in Maryland, its 49th in US
    by ABS-CBN News on May 13, 2021 at 3:45 am

    Jollibee Foods Corp said Thursday it opened its first Jollibee store in Maryland in April, near the US capital Washington D.C., as part of its expansion efforts in North America.

  • Asian markets plunge as US inflation data fans rate hike fears
    by ggaviola on May 13, 2021 at 3:44 am

    HONG KONG  – A forecast-busting surge in US inflation sent Asian markets tumbling on Thursday, tracking a rout on Wall Street as investors fret that the Federal Reserve will be forced to hike interest rates earlier than expected to avoid prices running out of control. Trading floors were already awash with red this week owing The post Asian markets plunge as US inflation data fans rate hike fears appeared first on Inquirer Business.

  • Luxury jet makers battle over lucrative spy plane niche
    by Allison Lampert and Tim Hepher, Reuters on May 13, 2021 at 2:45 am

    From the South China Sea to the Middle East and the Baltic, governments are eyeing "special mission" business jets capable of looking or listening at potentially lower running costs than converted passenger or military planes.

  • Facebook-backed crypto project Diem shifts to US
    by ABS-CBN News on May 13, 2021 at 1:31 am

    Facebook-backed digital payments project Diem said Wednesday it is shifting to the United States to launch a "stablecoin" backed by dollars.

  • Labor dept exempts UK from healthworkers deployment cap
    by ABS-CBN News on May 13, 2021 at 1:09 am

    The Philippines has exempted the United Kingdom in its 5,000 annual deployment cap of healthworkers, its labor chief said Thursday.

  • GCash Futurecast 2021: The country’s undisputed #1 e-wallet shares a peek into its newest...
    by vcatibog on May 13, 2021 at 1:00 am

    From starting out as an e-wallet for making fast & secure online transactions to being the undisputed #1 mobile wallet app in the Philippines, GCash is now transforming itself once again to respond to the call of the times by launching new products & services to further its vision of making Filipino lives better everyday, The post GCash Futurecast 2021: The country’s undisputed #1 e-wallet shares a peek into its newest innovations for the Year appeared first on Inquirer Business.

  • US will remove Xiaomi from blacklist, reversing jab by Trump
    by Reuters on May 13, 2021 at 12:46 am

    The US Defense Department will remove China's Xiaomi Corp from a government blacklist, a court filing showed, marking a reversal by the Biden administration of one of Donald Trump's last jabs at Beijing before exiting office.

  • D&L Industries, Inc. Notice of Annual Stockholders’ Meeting 1 of 2
    by bdiaz on May 13, 2021 at 12:00 am

    Please see below for the Notice of Annual Stockholders’ Meeting of D&L, Industries, Inc. ADVT. The post D&L Industries, Inc. Notice of Annual Stockholders’ Meeting 1 of 2 appeared first on Inquirer Business.

  • Wall Street ends with broad sell-off on spiking inflation fears
    by ggaviola on May 12, 2021 at 10:44 pm

    NEW YORK  – Wall Street closed lower on Wednesday with the S&P suffering its biggest one-day percentage drop since February, as inflation data fueled concerns over whether interest rate hikes from the Fed could happen sooner than anticipated. All three major U.S. stock indexes ended the session deep in the red following the Labor Department’s The post Wall Street ends with broad sell-off on spiking inflation fears appeared first on Inquirer Business.

  • Outstanding Treasury debt hits new high
    by clopez on May 12, 2021 at 9:24 pm

    The outstanding locally issued IOUs rose to a new high of P7.27 trillion as of end-April. This followed the recent hike in the Bureau of the Treasury’s monthly domestic borrowing program. The latest Treasury data showed outstanding T-bills increased to P1.06 trillion last month from P1.05 trillion in March. Outstanding treasury bonds also increased to The post Outstanding Treasury debt hits new high appeared first on Inquirer Business.

  • Gokongweis cut deal with Pos for a bite of Shakey’s
    by clopez on May 12, 2021 at 9:22 pm

    The Gokongwei family has diversified into the full-service restaurant business with a deal to invest P1.25 billion in leading pizza parlor chain Shakey’s Pizza Asia Ventures Inc. Through private investment firm JE Holdings, the Gokongwei family is buying new shares in Shakey’s for P8.20 per share, bringing in fresh capital in exchange for a 9-percent The post Gokongweis cut deal with Pos for a bite of Shakey’s appeared first on Inquirer Business.

  • Vista Land unit returns to offshore debt market to raise $170M
    by clopez on May 12, 2021 at 9:20 pm

    Villar group-led property developer Vista Land & Lifescapes is returning to the offshore bond market with a new issuance of $170 million debt paper, taking advantage of a benign global debt market. Through wholly owned VLL International Inc., the group executed a subscription agreement with Credit Suisse (Singapore) Ltd., DBS Bank Ltd., and The Hongkong The post Vista Land unit returns to offshore debt market to raise $170M appeared first on Inquirer Business.

  • Good time to hunt for bargains in the PSE, says analyst
    by clopez on May 12, 2021 at 9:18 pm

    The local stock market is likely to remain in the doldrums this year, but for investors with a longer investment horizon, it’s a good time to pick up bargains, local stock brokerage AB Capital Securities said. On Wednesday, the main-share Philippine Stock Exchange index (PSEi) fell by 90.43 points, or 1.43 percent, to close at The post Good time to hunt for bargains in the PSE, says analyst appeared first on Inquirer Business.

  • Solidarity in service
    by clopez on May 12, 2021 at 9:16 pm

    (Last of a series) For the past two weeks, we discussed how people generously supported The Community Pantry in New Manila, set up by Charlemagne “Charlie” Yu, who teaches law at the University of the Philippines. The pantry has now moved to a more central location on Broadway Avenue, between Aurora Boulevard and N. Domingo The post Solidarity in service appeared first on Inquirer Business.

  • DA seeks P6.6B in additional fund for ASF response
    by clopez on May 12, 2021 at 9:14 pm

    The Department of Agriculture (DA) needs an additional funding of P6.6 billion this year to “fully accelerate” the recovery of the livestock industry from the slump caused by African swine fever (ASF) outbreak, the agriculture chief said. In a virtual briefing on Wednesday, Agriculture Secretary William Dar said the amount would allow the agency to The post DA seeks P6.6B in additional fund for ASF response appeared first on Inquirer Business.

  • CAAP reforms pushed to help crippled aviation sector
    by clopez on May 12, 2021 at 9:12 pm

    Big business groups are urging Congress for sweeping reforms in the aviation sector, starting with the amendment of the Civil Aviation Authority Act of the Philippines (Caap) to stimulate growth and aid recovery in the postpandemic era. In a statement on Wednesday, the Joint Foreign Chambers of the Philippines and local business groups welcomed the The post CAAP reforms pushed to help crippled aviation sector appeared first on Inquirer Business.

  • Peza-registered investment pledges jumped by 54% in Q1
    by clopez on May 12, 2021 at 9:10 pm

    The Philippine Economic Zone Authority (Peza) saw its registration of investment pledges increase by nearly 54 percent in the first quarter of the year to more than P25.3 billion, compared to year-ago level. In a statement on Wednesday, Peza said investment commitments in the first three months last year reached only about P16 billion, down The post Peza-registered investment pledges jumped by 54% in Q1 appeared first on Inquirer Business.

  • PH showing signs of recovery despite negative growth – economic managers
    by Alexander Magno on May 12, 2021 at 4:41 pm

    MANILA, Philippines — The performance of the economy in the first quarter of this year is reason enough to be optimistic that it will recover from its current contraction amid the COVID-19 pandemic, according to the heads of the administration’s finance cluster. The managers noted that the negative 4.2% gross domestic product growth for the The post PH showing signs of recovery despite negative growth – economic managers appeared first on Inquirer Business.

  • AC Energy: Southeast Asia’s largest listed renewables company
    by Iris Gonzales on May 12, 2021 at 4:00 pm

    The growth story of AC Energy could be an edge-of-your seat Netflix series which would be very interesting at least for those really passionate about energy.

  • Success in NCR: A potential source of hope and inspiration
    by Joey Concepcion on May 12, 2021 at 4:00 pm

    Recently, I had interviews with Angelo Palmones of DZRH, and Rowena Salvacion and Emil Sumangil of DZBB, where we talked about the strategic importance of focusing our vaccines in the National Capital Region.

  • Five exes and more to come
    by Rey Gamboa on May 12, 2021 at 4:00 pm

    Five successive quarters of economic contraction represent five exes of how the Philippines has floundered as a result of the government’s continued blundering.

  • Puregold eyes more acquisitions
    by Iris Gonzales on May 12, 2021 at 4:00 pm

    Lucio Co’s retail empire is on the lookout for possible acquisitions as part of efforts to adapt to changing consumer behavior.

  • World Bank seeks policies to integrate informal sector into mainstream
    by Elijah Felice Rosales on May 12, 2021 at 4:00 pm

    The World Bank has urged governments in East Asia and the Pacific to widen social protections and reduce regulatory burdens plaguing the informal sector, paving the way for its integration into the economic mainstream.

  • Amazon wins court fight against $303 million EU tax order, Engie loses
    by kadraneda on May 12, 2021 at 10:45 am

    BRUSSELS — Amazon on Thursday won its fight against an EU order to pay about 250 million euros ($303 million) in back taxes to Luxembourg as Europe’s second-highest court dealt a blow to the bloc’s crackdown against unfair tax deals for multinationals. In a separate case, French utility Engie however lost its appeal against an The post Amazon wins court fight against $303 million EU tax order, Engie loses appeared first on Inquirer Business.

  • Insurance Commission: FLT Prime folds up
    by tbergonia on May 12, 2021 at 9:18 am

    MANILA, Philippines—The Insurance Commission (IC) said FLT Prime Insurance Corp. has officially folded up, one of the casualties of the mandatory increase in capitalization of Philippine insurers. In a May 11 notice to the public, Insurance Commissioner Dennis Funa said FLT Prime’s insurance business was officially withdrawn through a separate directive he issued on the The post Insurance Commission: FLT Prime folds up appeared first on Inquirer Business.

  • BSP sees inflation easing sooner than expected, keeps interest rates steady
    by tbergonia on May 12, 2021 at 8:48 am

    MANILA, Philippines—The Philippine central bank on Wednesday (May 12) opted to keep its key interest rate unchanged, saying that the pace of consumer price increases appear to be easing and will likely return to within the government’s forecast range earlier than originally expected. At an online press briefing, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno The post BSP sees inflation easing sooner than expected, keeps interest rates steady appeared first on Inquirer Business.

  • Another first for RLC Residences
    by vcatibog on May 12, 2021 at 7:31 am

    Amidst the uncertainties brought about by the pandemic, Robinsons Land Corporation continues its hopeful and bright winning streak this year. After launching its new residential brand and its ambassador Heart Evangelista, RLC Residences today revealed its new digital video. She expressed gratitude for RLC Residences’ trust in her and gushed about the physical event that The post Another first for RLC Residences appeared first on Inquirer Business.

  • Ex-BSP governor joins Pilipinas Shell as new independent director
    by vcatibog on May 12, 2021 at 7:11 am

    Ex-BSP governor joins Pilipinas Shell as new independent director Pilipinas Shell Petroleum Corporation (PSPC) is pleased to announce the election of former Bangko Sentral ng Pilipinas (BSP) Governor Amando M. Tetangco Jr. as a new independent member of PSPC’s Board of Directors effective May 11, 2021. Mr Tetangco’s board election increased the number of PSPC The post Ex-BSP governor joins Pilipinas Shell as new independent director appeared first on Inquirer Business.

  • DA: New SRP for imported pork to be out this week
    by postie on May 12, 2021 at 6:42 am

    MANILA, Philippines — The new suggested retail price (SRP) for imported pork is currently being finalized and may be out this week, Agriculture Secretary William Dar said Wednesday. The new SRP is based on the Executive No. 128, which the Senate and the country’s economic team have agreed to amend. “May final discussions being done The post DA: New SRP for imported pork to be out this week appeared first on Inquirer Business.

  • PLDT-Smart deepen partnership with Unicef in fight vs online child abuse
    by hniitsu on May 12, 2021 at 6:39 am

    MANILA, Philippines — The PLDT Group strengthened its partnership with the United Nations Children’s Fund (Unicef) as they combat the online exploitation of children. PLDT and subsidiary Smart Communications joined Unicef as a regional pioneer in adopting assessment tools that will align the goals of protecting children with business expansion. Known as the Mobile Operators The post PLDT-Smart deepen partnership with Unicef in fight vs online child abuse appeared first on Inquirer Business.

  • Thank you for our family: Share gratitude and family love over Jollibee chickenjoy
    by vcatibog on May 12, 2021 at 6:19 am

    As quarantine restrictions continue, Filipino families have found ways to expand their roles to provide support and comfort to their loved ones during these trying times. They’ve become one another’s teachers, physicians, and constant playmates, making them more grateful for the gift of family. The lockdown has made family members become unconsciously reacquainted, and while The post Thank you for our family: Share gratitude and family love over Jollibee chickenjoy appeared first on […]

  • Which global cities have the cheapest and most expensive tap water?
    by jbalboa on May 12, 2021 at 5:14 am

    From Brussels to San Francisco, and from Cairo to Beirut, where in the world is water cheapest and most expensive? The post Which global cities have the cheapest and most expensive tap water? appeared first on Inquirer Business.

  • PMA’s 114th Annual Convention: Ngayon at kailanman, matatag sa pagsubok ng pandemya
    by bdiaz on May 12, 2021 at 4:43 am

    “Matakot ka sa COVID-19, huwag sa bakuna.”  This was the bold statement of Dr. Benito Atienza, President of the Philippine Medical Association (PMA) and vaccine advocate. With the reality of the increasing cases of COVID-19 in the country, coupled with the gradual roll-out of COVID-19 vaccines, Dr. Atienza is one of the many who believe The post PMA’s 114th Annual Convention: Ngayon at kailanman, matatag sa pagsubok ng pandemya appeared first on Inquirer Business.

  • PH economy sinks deeper into recession
    by besguerra on May 11, 2021 at 8:36 pm

    The Philippine economy is now in its longest recession since the foreign debt crisis in the 1980s after it shrank further in the first three months of 2021. The pandemic-induced economic downturn has extended to five consecutive quarters as the Philippines remained under the longest and most stringent COVID-19 quarantine in Asia due to elevated The post PH economy sinks deeper into recession appeared first on Inquirer Business.

  • April vehicle sales up year-on-year
    by besguerra on May 11, 2021 at 8:07 pm

    Car and truck manufacturers sold more than 17,800 new vehicles in April, a jump of about 13,300 percent from the level in the same month last year, when carmakers sold only about a hundred units due to the tight lockdown at the start of the pandemic. They sold 17,843 units in April alone, up from The post April vehicle sales up year-on-year appeared first on Inquirer Business.

  • Big chunk of P 653B released for COVID-19 response still unused
    by besguerra on May 11, 2021 at 8:06 pm

    The national government has released through the Department of Budget and Management (DBM) a total of P653.4 billion from March last year up to mid-April this year to various government agencies for their COVID-19 response. However, about one-third of the fund released or P217.3 billion remained unspent to date. Some local governments, meanwhile, resorted to The post Big chunk of P 653B released for COVID-19 response still unused appeared first on Inquirer Business.

  • PSEi gains slightly despite grim Q1 GDP number
    by besguerra on May 11, 2021 at 8:03 pm

    The local stock barometer inched up in thin trade on Tuesday as the country’s economic recession continued in the first quarter at a worse-than-expected pace. The main-share Philippine Stock Exchange index (PSEi) added 9.42 points or 0.15 percent to close at 6,326.83, bucking the downturn across regional markets. This was even as the country’s first The post PSEi gains slightly despite grim Q1 GDP number appeared first on Inquirer Business.

  • PH joins Asean cross-border investment pact
    by besguerra on May 11, 2021 at 8:02 pm

    Philippine investment companies and fund managers can now offer eligible funds to retail investors in Malaysia, Singapore and Thailand while their counterparts in these neighboring countries can similarly pitch investment products to the local market, boosting cross-border investment flow in Southeast Asia. This was as the Securities and Exchange Commission (SEC) became the newest signatory The post PH joins Asean cross-border investment pact appeared first on Inquirer Business.

  • My simplified money plans
    by besguerra on May 11, 2021 at 8:01 pm

    My life was in a financial mess despite having enough knowledge about finances. Eventually, I realized that money is more about behavior and less about skills. When I gave my life to Jesus and began to read the Bible, many things changed for the better for me, foremost is my finances. Our attitude about money The post My simplified money plans appeared first on Inquirer Business.

  • Higher tobacco revenues pull up LTG Q1 profit by 4.5% to P6.49B
    by besguerra on May 11, 2021 at 8:00 pm

    Tycoon Lucio Tan-led conglomerate LT Group Inc. (LTG) grew its first quarter net profit by 4.5 percent year-on-year to P6.49 billion, driven by higher earnings contributed by its banking, tobacco and liquor businesses. The tobacco business accounted for a hefty 77 percent of total earnings. This business posted a net income of P5.03 billion in The post Higher tobacco revenues pull up LTG Q1 profit by 4.5% to P6.49B appeared first on Inquirer Business.

  • Emperador Q1 profit jumps by 43%
    by besguerra on May 11, 2021 at 7:59 pm

    Tycoon Andrew Tan-led Emperador Inc. grew its first quarter net profit by 43 percent year-on-year to P2.1 billion, a new quarterly record-high for the globalizing liquor-maker, driven by robust brandy and whisky segments. Emperador—one of the few companies that bucked the earnings downturn caused by the COVID-19 pandemic in 2020—continued its strong performance at the The post Emperador Q1 profit jumps by 43% appeared first on Inquirer Business.

  • DMCI recovers from 2020 slump; profit soared in Q1
    by besguerra on May 11, 2021 at 7:58 pm

    Consunji-led engineering conglomerate DMCI Holdings Inc. (DMCI)’s first quarter net profit soared by 590 percent year-on-year to P4.3 billion as its property and integrated coal mining and power generation businesses strongly rebounded from last year’s slump. Excluding nonrecurring items, DMCI’s consolidated core net income still soared by 295 percent year-on-year to P4.1 billion, the company The post DMCI recovers from 2020 slump; profit soared in Q1 appeared first on Inquirer Business.

  • SB Finance woos market via new loan products
    by besguerra on May 11, 2021 at 7:53 pm

    Security Bank’s consumer lending arm SB Finance (SBF) aims to return this year to the kind of business volumes it had enjoyed before the COVID-19 pandemic wreaked havoc on the domestic and global economy in 2020. SBF—which unveiled yesterday its new mass market campaign called “Dito, Pwede!”—aims to at least match what it had achieved The post SB Finance woos market via new loan products appeared first on Inquirer Business.

  • PAL assures continued operations despite restructuring plans
    by tbergonia on May 11, 2021 at 11:48 am

    MANILA, Philippines—Taipan Lucio Tan’s Philippine Airlines (PAL) announced its commitment to continue operations—including transporting vaccines and stranded Filipinos—amid a looming restructuring plan meant to ensure its survival during the global health catastrophe. “Our flights and operations will not be affected in any restructuring,” PAL said in a statement on Tuesday (May 11). “We continue to The post PAL assures continued operations despite restructuring plans appeared […]

  • SBMA says Subic exports, imports defy pandemic
    by tbergonia on May 11, 2021 at 10:53 am

    SUBIC BAY FREEPORT—While many businesses in the country reel from the financial impact of the pandemic, companies and port users in this economic zone saw an increase in exports and imports in the first three months of 2021, the head of the Subic Bay Metropolitan Authority (SBMA) said on Tuesday (May 11). In a statement The post SBMA says Subic exports, imports defy pandemic appeared first on Inquirer Business.

  • SMC hires architect Palafox for Bulacan airport city project
    by tbergonia on May 11, 2021 at 8:16 am

    MANILA, Philippines—Conglomerate San Miguel Corp. (SMC) has hired urban planner and architect Felino “Jun” Palafox for its massive airport city project in Bulacan province. In a statement on Tuesday (May 11) SMC said Palafox will help master plan the new metropolis, which is separate from the international air hub being planned in the same complex. The post SMC hires architect Palafox for Bulacan airport city project appeared first on Inquirer Business.

  • Bank lending contraction enters 4th month despite liquidity spike in March
    by tbergonia on May 11, 2021 at 8:06 am

    MANILA, Philippines—The contraction in Philippine bank lending continued for the fourth month in a row, with the amount of loans underwritten falling by the largest amount so far last March since the coronavirus pandemic began, according to the Bangko Sentral ng Pilipinas (BSP). In a statement, the BSP cited preliminary data showing that outstanding loans The post Bank lending contraction enters 4th month despite liquidity spike in March appeared first on Inquirer Business.

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