Home 2018 October 1

Daily Archives: October 1, 2018 | 12:32 am

IMF Article IV press briefing

IMF cautions gov’t on fiscal deficit

THE PHILIPPINES should aim for a more modest budget deficit by trimming “non-priority” expenses in order to reduce the risk of overheating, the International Monetary Fund (IMF) said.
rice grocery

Analyst poll adds to expectations of even faster Sept. inflation

INFLATION likely clocked in faster in September as a strong typhoon that month pushed food prices even higher, according to a BusinessWorld poll in which analysts cited the need for more interest rate hikes from the central bank to rein in overall price pressures.
Wholesale Electricity Spot Market (WESM)

WESM operator flags tax reforms’ price impact

THE OPERATOR of the Wholesale Electricity Spot Market (WESM) has projected ongoing tax reform to increase overall electricity prices progressively until 2020, when the price hike could be as high as P0.1311 per kilowatt-hour (/kWh).

A runway show at LVMH’s Celine just shifted luxury’s landscape

PARIS — Star designer Hedi Slimane revealed his first collection for LVMH’s Celine brand in Paris Friday in the most anticipated runway show of September’s fashion weeks.
NFA rice warehouse

NFA plan to require rice permits for supermarkets ‘impractical’

THE “uncoordinated and impractical” imposition of the National Food Authority (NFA) of a rice permit for supermarkets provides an additional argument for the grains agency’s abolition, Senator Sherwin T. Gatchalian said on Sunday.

PSEi seen ending 2018 at 8,200

THE stock brokerage arm of the Bank of the Philippine Islands (BPI) projects the Philippine Stock Exchange index (PSEi) to close around the 8,200 level by year-end, as investors focus on companies’ fundamentals amid rising inflation and the weakening peso.

Playing with clothes

It’s always been the goal of people in the creative industries to push boundaries, when they can. But do limits exist? How can you push something to its limit, then take a look back, and still say it’s acceptable, even beautiful?
Philippine Eagle statue

Small farms in Davao upland district eyed for agri-tourism

DAVAO CITY -- The upland district of Marilog -- home to numerous small vegetable, fruit, and flower farms as well as a growing number of hillside resorts and restaurants -- is being groomed to become one of the city’s main agri-tourism site.
Bureau of Treasury

Treasury bill rates likely to go up

RATES of the Treasury bills (T-bill) on offer today will likely climb, with oversubscription in tenders expected, as investors await the local inflation print for September.
A320neo aircraft Airbus

Cebu Pacific to take delivery of its 1st A320neo aircraft by November

BUDGET carrier Cebu Pacific expects the delivery of its first Airbus A320neo (new engine option) by November, which will be deployed for international routes before the end of 2018.
Good Chips

Healthy-snack venture hoping to cement place in GenSan food universe

BUSINESS PARTNERS Chad D. Dorego, Alex Emmanuelle G. Aponesto, and Kaye M. Peratero from General Santos (GenSan) City maintain their own day jobs for now, but they aim to eventually pursue their Good Chips venture into a full-time social enterprise.
YIELD 100118

Yields on gov’t debt surge on inflation expectations

YIELDS ON government securities surged amid expectations of faster inflation towards yearend after the central bank tightened monetary policy rates by 50 basis points (bp) last Thursday.

Telenor in talks with potential partners to enter PHL market

NORWAY’S Telenor Group said it is in talks with local companies as it eyes participation in the bidding for the third player slot in the Philippine telco industry.

A traveler’s retreat

Travel is an activity which guests at Okada Manila have in common, thus the idea of naming its spa “Retreat” since traveling is a “time to escape” and having a retreat is having “time for yourself.”
soy beans

Taiwan to buy $1.56 billion worth of Iowa, Minnesota soy

CHICAGO/BEIJING -- Taiwanese trade officials and business leaders signed a letter of intent on Thursday to purchase as much as 3.9 million metric tons of soybeans from farmers in Minnesota and Iowa over the next two years, Minnesota Governor Mark Dayton said in a statement.

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Berjaya Philippines extends lease deal with PCSO

BERJAYA Philippines, Inc. has extended its lease deal for lottery equipment with the Philippine Charity Sweepstakes Office (PCSO) by another year.

What is it like?

The week before The Retreat Spa’s official launch, members of the media were intend to take a tour and try out the spa and its services.

Peso seen sideways after BSP hike

THE PESO will likely move sideways against the dollar this week following the aggressive policy tightening of the local central bank and amid trade developments in the United States.
Tamayuan plant nursery

Seed program eyed for Tamayuan tree to supplement wood supply

THE GOVERNMENT hopes to offer seed for the Tamayuan tree (Strombosia philippinensis) to reduce slash-and-burn agriculture and to supply wood to the construction industry, the Ecosystems Research & Development Bureau (ERDB) said on Sunday.

ORCA set to open cold storage facilities in Taguig, Caloocan in 1st half of...

ISOC Holdings, Inc. said its subsidiary ORCA Cold Chain Solutions is scheduled to open cold storage facilities in Taguig and Caloocan in the first half of 2019, as part of the expansion of its food storage business.

Dubai jeweler puts diamond-studded $17-M shoes on sale

DUBAI — That’s one way to lose those walking blues: a pair of shoes encrusted with diamonds has gone on sale in Dubai with a price tag of $17 million.

SSS eyes gradual increase in contribution rate

THE SOCIAL Security System is eyeing to increase its monthly contribution rate at a more relaxed pace as it seeks to extend the fund life of the agency, a top official said.

PHL shares seen rebounding after BSP rate hike

SHARES may move upward in the week ahead as investors react to the Bangko Sentral ng Pilipinas (BSP)’s latest move to counter inflation, while awaiting the release of September consumer price index data.
Bangko Sentral ng Pilipinas (BSP)

Banks’ FCDU loans drop in Q2

FOREIGN CURRENCY loans granted by banks slid during the second quarter as more businesses settled their dues, the Bangko Sentral ng Pilipinas (BSP) said.

Drought seen driving EU farmers to sow more wheat, less rapeseed

PARIS -- Parched soils have hampered late-summer rapeseed sowing in Europe, raising the prospect that farmers will shift toward attractively priced wheat for next year’s harvest, analysts said.

Ayala Corp. (AC)

AYALA Corp.’s (AC) growth prospects, coupled with macroeconomic concerns led foreign investors to sell their shares in the stock while local investors took positions, making it one of the most actively traded stocks last week.

SM celebrates Mickey Mouse at 90

As a child, one is introduced to the happy-looking character with huge round ears who wears white gloves, a pair of red shorts, and yellow shoes (that seemed too big for him) through television shows, toys we played with, or wearing shirts with a print of his face on them.

How PSEi member stocks performed — September 28, 2018

Here’s a quick glance at how PSEi stocks fared on Friday, September 28, 2018   Philippine Stock Exchange's most active stocks by value turnover -- September...