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Aboitiz unit Pilmico takes majority stake in animal feeds maker Gold...

ABOITIZ Equity Ventures, Inc.’s food subsidiary Pilmico International Pte Ltd. has acquired a majority stake in Gold Coin Management Holdings Ltd (Gold Coin) for $334 million as Pilmico expands its animal feeds business in the Asia Pacific.

Ranida Games obtains funding from Indonesian VC firm

RANIDA Games, a independent game developer, said it received funding from an Indonesian venture fund DNC to help enhance the company’s basketball-themed flagship game and to help release a new fighting game by year’s end.

Investors stage last-minute bargain hunt amid thin trades ahead of SONA

THE PHILIPPINE STOCK EXCHANGE index (PSEi) edged up but stopped short of the 7,400 mark amid last-minute bargain hunting after spending much of Friday in red territory.

FNI raises P517.5M in funds

GLOBAL Ferronickel Holdings, Inc. (FNI) raised more than P500 million as it completed its follow-on offering last week, which will be used to pay for its $10-million working capital loan.

DTI signals robust growth in BoI-approved investment pledges

THE Department of Trade and Industry (DTI) said investment pledges approved by the Board of Investments (BoI) posted strong growth at midyear due to the country’s strong fundamentals as well as business and consumer confidence.

Imported auto sales drop 11% in first half — AVID

SALES OF imported vehicles in the first half fell 11% year-on-year amid higher excise taxes and fuel prices, with a rise in interest rates also dampening vehicle purchases financed with loans, the Association of Vehicle Importers and Distributors (AVID) said.

June auto sales drop as inflation curbs buying

VEHICLE SALES in the first half dropped by more than 12%, auto and truck manufacturers said, noting that potential buyers prioritized their basic needs over the acquisition of high-value goods amid rising inflation.

PEZA to seek GOCC status to fend off diminished TRAIN 2...

THE Philippine Economic Zone Authority (PEZA) is proposing amendments to the law that created the investment promotion agency to convert it into an independent government-owned and controlled corporation (GOCC).

More livelihood starter kits distributed to Marawi residents

ANOTHER 500 livelihood starter kits were recently distributed by the Department of Trade and Industry (DTI) to displaced residents of Marawi City as part of the rehabilitation program.

PEZA registered investments plunge on TRAIN 2 uncertainty

THE PHILIPPINE Economic Zone Authority (PEZA) said investment pledges in the first half fell over 55% due to uncertainty created by package 2 of the Tax Reform for Acceleration and Inclusion (TRAIN) law.

More than 20 Bukidnon MSEs complete Mentor Me program

THE province of Bukidnon recently saw its third batch of micro and small entrepreneurs (MSE) complete the Department of Trade and Industry’s (DTI) Kapatid Mentor Me (KMME) Program, which aims to scale up their business expertise.

DTI to sign UAE market-access deal for halal products

THE Department of Trade and Industry (DTI) is set to sign a deal with the United Arab Emirates (UAE) which will allow easier access to Philippine halal products, especially those produced by micro, small, and medium-scale entrepreneurs.

Fee waiver for trademark applications expanded to more MSMEs

THE Department of Trade and Industry (DTI) and the Intellectual Property of the Philippines (IPOPHL) said they have expanded a program to waive trademark application fees for micro, small, and medium enterprises (MSMEs) to accommodate 1,000 more applications.

AIM to pitch capacity-management plan to DoT

A THINK tank attached to the Asian Institute of Management (AIM) hopes to propose to the Department of Tourism (DoT) a recommendation to help local government units (LGUs) come up with capacity-management plans for major tourist attractions.

AlloyMTD plans gov’t center-business hub in Bataan

THE AlloyMTD Group is in talks with the local government to develop a P3.6-billion government center and business hub in Bataan.

PEZA banking on LGU support for exemptions from TRAIN 2

THE Philippine Economic Zone Authority (PEZA) said it hopes to attract more new investment this year, citing support from local government units (LGUs) to exempt the investment-promotion agency from the effects of the second round of tax reform.

DTI wary of price spike in canned meat if tariffs revert...

PRICES of canned meat could rise by about 25% should mechanically deboned meat revert to higher import duties, according to the Department of Trade and Industry (DTI).

Applications for intellectual property rise 14% in Q1

LOCAL applications for intellectual property saw a 14% annual increase during the first quarter of the year amid expanding awareness over the importance of protecting trademarks for businesses.

DA chief bares $2.43-million grant from South Korea for greenhouse projects

By Janina C. Lim, Reporter THE Department of Agriculture (DA) has received from the South Korean government a grant to be used in beefing up...

PSE review finds 62 firms Shariah-compliant

THE Philippine Stock Exchange said it classified 62 securities as compliant with Islamic finance principles, as of June 25.

Bourse retreats further on inflation, trade war fears

THE MAIN INDEX marked its second day of decline on Friday as investors continued to reel from a faster-than-estimated June inflation that was reported on Thursday morning, becoming the odd-man out among largely positive Asian markets.

BoI OK’s more pledges as of May

THE BOARD of Investments (BoI) approved nearly a fifth more committed investments in the five months to May from a year ago, with foreign pledges alone growing by close to a third in value terms in the same period, the agency said in a press release on Thursday.

BoI sees strong investor interest in Eastern Samar

BUSINESSES are looking to invest in the Eastern Visayas in industries such as water transport, hospitals, agribusiness, mass housing, and agro-processing, according to the Department of Trade and Industry (DTI).

PHL franchise industry seen to grow by 15-20% this year

THE LOCAL franchise industry is confident of breaching the P1-trillion revenue mark this year as it aggressively positions the Philippines as the “franchise hub of Asia.”

Chelsea Logistics’ Trans-Asia deal voided by PCC

THE Philippine Competition Commission (PCC) voided Chelsea Logistics Holdings Corp.’s (CLC) acquisition of Trans-Asia Shipping Lines, Inc. for its failure to notify the antitrust body of the 2016 deal.

Coral World Park says it is still pursuing $250-M theme park-resort...

CORAL World Park (CWP) Undersea Resorts, Inc. is still pursuing its $250-million leisure and tourism project in Coron, Palawan.

DTI says only few prices have moved since Nov.

THE Department of Trade and Industry (DTI) said the prices of most goods it is monitoring have not moved since November, and neither have its suggested retail price (SRP) ceilings on commonly-purchased goods.

BCDA seeking proposals for New Clark City golf course

THE Bases Conversion Development Authority (BCDA) has requested proposals for the development of a 250-hectare golf course for New Clark City (NCC) in Central Luzon.

Trade war to weed out inefficient exporters — UNCTAD

IN CASE a “full trade war” erupts, average tariffs for Philippine exporters could rise to a worst-case 30% from their current level of 2%, putting the least competitive firms at risk, the United Nations Conference on Trade and Development (UNCTAD) said in a report.

Beverage industry wants sugar warnings for food products too

THE beverage industry, on which the government plans to impose sugar content labels, has said that the requirement must apply to packaged food products as well.

Sugary drinks makers told to have warning labels ready by August

THE GOVERNMENT will establish a warning label scheme for “high sugar” drinks in a bid to reduce consumption of these products, with manufacturers on notice to be ready to comply by August.

DTI to embed business dev’t officers at barangay level

THE Department of Trade and Industry (DTI) hopes to expand the reach of its livelihood initiatives by embedding business development officers at the barangay level, Secretary Ramon M. Lopez told reporters Wednesday.

CEZA to limit issuance of licenses for cryptocurrency exchanges

THE CAGAYAN Economic Zone Authority (CEZA) is looking to initially limit the number of licenses to be issued to cryptocurrency exchanges seeking to operate in the special economic zone.

DTI eyeing Palace approval for export development plan

THE Department of Trade and Industry (DTI) expects President Rodrigo R. Duterte to soon sign the new Philippine Export Development Plan (PEDP) 2018-2022, which lays out the medium-term strategy for meeting export targets.

PSE index drops below 7,000 on global concerns

LOCAL EQUITIES slipped, bringing the main index below the 7,000 mark on Monday, as global trade tensions continued to bring market jitters.

Gov’t setting price guide for select farm items in Metro Manila

THE GOVERNMENT is setting suggested retail prices (SRPs) for select agricultural products sold in Metro Manila in response to consumer concerns, officials said on Friday.

Higher corn imports seen this year

A GROUP of corn stakeholders is expecting the country to import half a million metric tons of the grain this year as farmers have refused to plant the crop amid low market prices.

Bourse sinks deeper as gloom persists

THE BOURSE sank deeper on Friday after straying briefly into positive territory moments before closing, marking what an analyst noted was one of the market’s steepest weekly falls in recent history.

Focus on key industries could double FDI — AmCham

INVESTORS from the United States see the potential for the Philippines to outperform its more than $10-billion record for foreign direct investment (FDI) as long as it focuses on key growth areas.

Philippines losing digital edge — IMD

FRESH from a drop in overall competitiveness position last month, the Philippines suffered a similar fall in the digital field in an annual report of the International Institute for Management Development (IMD).

Foreign chambers blame TRAIN uncertainty for flat FDI outlook

FOREIGN investors said the uncertainty generated by the second package of the Tax Reform for Acceleration and Inclusion (TRAIN) law’s second phase is behind the leveling off of foreign direct investment (FDI) forecasts for 2018.

Consumer group leader asks PCC, DoJ to probe fuel price movements

A MEMBER of an international consumer advocacy group has requested the Philippine Competition Commission and the Department of Justice to investigate whether the movement of fuel prices are “in compliance with the law.

DTI sets 2022 target for eliminating ‘5-6’ lending

WITH added funding set aside for lending to micro, small and medium enterprises, the Department of Trade and Industry (DTI) said it hopes to eliminate the need for so-called “5-6” informal lenders by 2022.

LLDA issues halt order vs 2 construction firms

THE Laguna Lake Development Authority (LLDA) said Thursday that it has ordered two construction companies to stop operations for allegedly dumping waste on the shoreland of Taguig City.

Electronics firms brace for higher tax cost

ELECTRONICS companies in the country -- a key driver of merchandise exports -- are bracing for bigger costs once planned changes to current fiscal incentives are implemented.