Home 2018 May 11

Daily Archives: May 11, 2018 | 11:41 pm

Duterte urges Maute members to surrender, wants to proclaim land reform in areas in...

President Rodrigo R. Duterte on Friday, May 11, pleaded with former Maute terrorist group members to stop fighting the government and instead help with...

Philippines, Kuwait sign deal ensuring OFW safety in the Gulf state

By Gillian M. Cortez The Philippines and Kuwait have signed the Memorandum of Agreement (MoA) that will ensure the safety and security of Filipino workers...

DoJ’s Guevarra to have a “more personal approach” with Dela Rosa’s BuCor

Justice Secretary Menardo I. Guevarra on Friday told Bureau of Corrections (BuCor) chief Ronald M. Dela Rosa he "intends to have a more personal...
sugar cane

Sugar output enough to meet local demand, US quota, agency says

The Philippines’ sugar production will be enough to meet local demand and, at the same time, satisfy allotments for the country’s US quota for...

Duterte’s net worth goes up by P1 million in 2017

President Rodrigo R. Duterte's net worth increased by P1.1 million in 2017 to P28.54 million from P27.42 million in 2016, a document showed. This,...
BSP

Economists expect one more rate hike this year

By Melissa Luz T. Lopez, Senior Reporter ECONOMISTS expect one more rate hike from the Bangko Sentral ng Pilipinas (BSP) this year amid signs that...

Supreme Court ousts Sereno in landmark ruling

By Dane Angelo Enerio (UPDATED 4:49 p.m.) The Supreme Court (SC) en banc, in a landmark ruling made on Friday, voted 8-6 favoring Solicitor General...
BIR tax compliance guide

Q1 tax effort hits record high

By Melissa Luz T. Lopez, Senior Reporter TAXES collected in the first quarter took a larger share relative to the economy to log a fresh...

Ayala Q1 profits hit P7.7B

By Arra Francia, Reporter THE real estate and power units of Ayala Corp. (AC) boosted its earnings for the first quarter of 2018, with net...

San Miguel Food and Beverage expects to earn P33 billion in 2018

SAN MIGUEL Food and Beverage, Inc. (SMFBI) — previously known as San Miguel Pure Foods Co., Inc. — is expected to generate P33 billion...
cigarettes

Tobacco, banking boost LT Group’s Q1 profits

THE attributable profit of the LT Group, Inc. (LTG) jumped by 61% in the first quarter of 2018, boosted by its tobacco and banking...

Phoenix Petroleum earnings, revenue up 65% and 107% in Q1

PHOENIX Petroleum Philippines, Inc. reported a net income of P464.75 million for the first three months of 2018, 65% higher than the P282.31 million...

Shakey’s earnings up 6% in Q1

SHAKEY’s Pizza Asia Ventures, Inc. (SPAVI) reported single digit growth in earnings for the first quarter of 2018, but remains positive for the rest...
BSP

BSP forms new unit as part of reorganization

By Melissa Luz T. Lopez, Senior Reporter THE Bangko Sentral ng Pilipinas (BSP) will introduce a new unit in the bank as part of its...

RCBC net income up 13% in 1st quarter

RIZAL Commercial Banking Corp. (RCBC) reported its net income went up 13% in the first quarter supported by robust loan growth and reduction in...

SSI earnings fall in Q1

EARNINGS of the SSI Group, Inc. fell in the first three months of the year, dragged by the weakening peso despite a single-digit growth...

Peso falls vs US dollar after BSP rate hike

THE peso dropped against the dollar on Friday following the “dovish” remarks from the Bangko Sentral ng Pilipinas (BSP), which raised interest rates for...

PSALM names winning bidders for power plant fuel supply

THE Power Sector Assets and Liabilities Management Corp. (PSALM) named Pilipinas Shell Petroleum Corp and Phoenix Petroleum Philippines, Inc. as the winning bidders for...

Chelsea opens Matnog-Allen route

CHELSEA Logistics Holdings Corp. (CLC) announced Friday that its subsidiary, Starlite Ferries Inc., had opened a new route between Matnog, Sorsogon and Allen, Northen...
PSE bells

Philippine stocks rally after BSP hikes rates

LOCAL stocks surged to close above the 7,700 level on Friday, after the central bank’s decision to raise interest rates for the first time...
Rodrigo Duterte

Public satisfaction with Duterte gov’t slips but still ‘very good’

The public's net satisfaction with the Duterte administration dropped 12 points, slipping to a “very good” rating with a score of +58 in the...

Ayala Corp profit rises 10% in first quarter

Ayala Corp. (AC)’s real estate and power units boosted its earnings for the first quarter of 2018, with net income attributable to the parent...
peso

Peso weakens on central bank’s ‘dovish’ remarks

The peso weakened against the dollar on Friday, May 11, following the "dovish" remarks from the Bangko Sentral ng Pilipinas (BSP). The peso closed the...

SSI Group earnings dip in first quarter

Earnings of SSI Group, Inc. fell in the first three months of the year, dragged by the weakening peso despite a single-digit growth in...
house of representatives

Legislators condemn SC decision to oust Sereno

Legislators on Friday, May 11, condemned the Supreme Court (SC) decision granting the quo warranto petition against now-ousted Chief Justice Ma. Lourdes P.A. Sereno. "With...
cigarettes

Tobacco, banking units lift LT Group Q1 bottom line

LT Group, Inc. (LTG)’s attributable profit jumped by 61% in the first quarter of 2018, boosted by its tobacco and banking units. In a statement...
PSE bells

Stocks end week in rally mode

Stocks continued to rise on the trading week's end following the central bank's decision to increase interest rates on Friday, May 11. The local bellwether...
Rodrigo Duterte

Satisfaction with Duterte administration declines — SWS poll

Net satisfaction in the Duterte Administration dropped 12 points, falling one grade to a "very good" rating with a score of +58 in the...

RCBC books higher Q1 profit on strong loan growth

Rizal Commercial Banking Corp. (RCBC) reported higher net profit in the first quarter supported by robust loan growth and reduction in non-performing assets. The Yuchengco-led...

First-quarter tax collections hit fresh record high

The government's tax effort saw a substantial improvement relative to the Philippine economy in the first quarter, with collections hitting a fresh record high,...
BSP

BSP creates fourth unit as part of reorganization plan

The Bangko Sentral ng Pilipinas (BSP) will introduce a new unit to be headed by a third deputy governor as part of its reorganization...

P29 million lost to fish kill in Obando, Bulacan

The Bureau of Fisheries and Aquatic Resources (BFAR) Region III said that the intense heat last May 6 led to P29-million worth of losses...
sugarcane

Sugar production to meet local demand, US quota this year — SRA

The Sugar Regulatory Administration (SRA) said that the country's sugar production will still be able to cater to both domestic demand and the US...


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Malabon barangay chairman in drug list faces charges

A barangay official included in the recently released ‘narco-list’ by the Philippine Drug Enforcement Agency (PDEA) faces charges for involvement in the illegal drug...

Pilipinas Shell, Phoenix Petroleum win supply bid for two power plants

The Power Sector Assets and Liabilities Management Corp. (PSALM) selected Pilipinas Shell Petroleum Corp and Phoenix Petroleum Philippines, Inc. as the winning bidders for...

Palace welcomes return of newly-elected Malaysia PM Mahathir

Malacañang palace on Friday issued a statement congratulating Mahathir Mohamar "on his return as Prime Minister of Malaysia" after beating his political protege Najib...
starlite_ferries

Starlite Ferries opens new route

Chelsea Logistics Holdings Corp. (CLC) announced Friday, May 11, that its subsidiary Starlite Ferries Inc. has opened a Matnog, Sorsogon — Allen, Northen Samar...

Phoenix Petroleum Q1 earnings soar on acquisitions, network expansion

Phoenix Petroleum Philippines, Inc. reported a net income of ₱464.75 million for the first three months of 2018, 65% higher than the ₱282.31 million...

DPWH says ‘world class’ Siargao bridge to boost tourism

The Department of Public Works and Highways (DPWH) is booking P337 million for the construction of a "world-class" bridge in Siargao, said to not...
02162018_CJ-Sereno_Arnaiz_03

Supreme Court votes to oust Sereno in landmark ruling

The Supreme Court (SC) en banc, in a landmark ruling made on Friday, May 11, voted 8-6 favoring Solicitor General Jose C. Calida's quo...

A necessary investment

By Romsanne R. Ortiguero According to Oxford Business Group (OBG), health maintenance organizations (HMO) first became prominent in the US in the 1970s as a...

MediCard Philippines, Inc.: Providing adequate health care access to more people

By Bjorn Biel M. Beltran, Special Features Writer When the concept of health maintenance organization (HMO) became popular in the United States in the early 1970s,...

Intellicare (Asalus Corporation): Always in pursuit of better health care services

Intellicare (Asalus Corporation), a health maintenance organization (HMO) that began operations in 1995, has made a commitment to consistently provide its members with high-quality,...
PH coins

BSP hikes rates as inflation heats up

By Melissa Luz T. Lopez Senior Reporter THE Bangko Sentral ng Pilipinas (BSP) raised its key rates yesterday, marking its first tightening move in nearly four...
wet market meat section

Economy grows 6.8% in Q1 but Pernia says inflation a ‘spoiler’

By Ranier Olson R. Reusora Researcher THE Philippine economy grew in the first quarter on the back of double-digit growth in government spending, but could have...