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Monthly Archives: October 2020

October inflation likely at 2.3% — central bank

The rise in consumer prices is expected to fall within 1.9% to 2.7% this month as lower fuel prices and water rates temper rising...

Filipinos to spend more in 2021

Filipinos are expected to spend more next year especially on recreation amid government stimulus measures for sectors badly hit by the coronavirus pandemic,...

BSP raises P70B in 28-day bills

By Beatrice M. Laforga, Reporter The Philippine central bank raised P70 billion in short-term securities on Friday due to strong liquidity. The Bangko Sentral ng Pilipinas...

DoF’s Dominguez backs gov’t energy policy pivot to green sources

Finance Secretary Carlos G. Dominguez III said he supports the government's recent policy shift favoring more sustainable and "green" energy sources. "The ongoing pandemic has...

PHL seeks $300-M loan from WB for community-based pandemic measures

The Philippine government has applied to the World Bank for a loan of $300 million to help local governments deal with the pandemic at...

Household spending expected to rise 5.7% in 2021 on rebound in leisure activities

Fitch Ratings projected 2021 household spending growth at 5.7% on pent-up demand for recreational and cultural activities that had been shut down by the...
DoLE

P5 billion worth of DoLE Bayanihan II aid budgeted for nearly 1 million displaced...

The Labor department said its P5 billion worth of aid programs for displaced workers under the Bayanihan II stimulus package will benefit nearly one...

Cagayan Valley leads gains in 2019 agriculture output by value, volume – PSA

CAGAYAN VALLEY recorded the highest increase in agricultural output by value in 2019 with growth of 6.6%, according to the Philippine Statistics Authority (PSA). In...

Damage to rural utilities from typhoon Quinta initially estimated at P51-M

Electric cooperatives sustained P50.92 million worth of damage from Typhoon Quinta (international name: Molave) according to initial estimates released by the National Electrification Administration...
first Gen corp.

First Gen plans LNG distribution expansion

Lopez-led First Gen Corp. is preparing a distribution plan to deliver liquefied natural gas (LNG) throughout the country ahead of the construction of its...

Wilcon profit slips 3% on store closures

Quarantine restrictions still weighed down on Wilcon Depot, Inc. as it earned P533.21 million in the third quarter, lower by 2.92% from a year...

Holcim Philippines income up 33% on cost control, efficiency

Holcim Philippines, Inc. posted a 33.3% increase in its net income attributable to the equity holders of the parent company to P613.95 million for...

International expansion lifts Emperador’s profit to P2.5B

Emperador, Inc.'s profit to owners climbed by over a quarter in the three months to September, attributed to contributions of its thriving international business. The...

Philex Mining reports P495-M profit as revenues improve

PHILEX MINING Corp. posted a higher net income attributable to the equity holders of the parent company at P495.04 million for the third quarter,...

PXP net loss up nearly five times to P52 million

Manual V. Pangilinan-led PXP Energy Corp. reported a net loss of P52.1 million to its equity holders in the nine months to September, or...

Del Monte Phillippines earns P900M in first quarter

Del Monte Philippines, Inc. maintained a year-on-year P900-million net profit in the three months to July on the back of "strong" domestic sales in...
National Grid Corporation of the Philippines (NGCP)

NGCP installs P1.1-billion transmission line in Mindanao

Private-led National Grid Corporation of the Philippines (NGCP) has mounted a P1.1-billion transmission line covering the northeastern portion of Mindanao. The second Butuan-Placer 138 kilovolt...
aboitiz-infracapital-logo

Aboitiz InfraCapital eyes expansion of small cell business

Aboitiz InfraCapital, Inc. on Friday said it is studying to expand its small cell network business in key cities in the Visayas and Mindanao...

Converge reports 71% revenue growth for Q3

Converge ICT Solutions, Inc. said its consolidated revenues for the third quarter grew 71% to P4.19 million, driven by the continued increase in residential...

Local shares climb on better-than-expected US economic result

PHILIPPINE shares ended in positive territory on Friday ahead of the long weekend break as the positive effects of the third-quarter US economic performance...

Metrobank 9 months pre-provision income up 41%; net profit P11.0 billion

Metropolitan Bank & Trust Co. (Metrobank) said it booked a 41% increase in income before provisions to P52.4 billion for the nine months to...
Landbank

LANDBANK lending to LGUs P51.3-B at end-Sept. in support of economic recovery

Land Bank of the Philippines (LANDBANK) said outstanding loans to local government units (LGUs) hit P51.3 billion at the end of September, which it...

PHL Business Bank posts net profit gain of 12% in third quarter

Philippine Business Bank said net profit rose 12% in the three months to September after a strong performance by its core business and trading...

Peso slightly lower amid surging COVID-19 case count worldwide

The peso weakened slightly Friday amid broad pessimism over the economic outlook as coronavirus cases surged worldwide, including in the United States, but ultimately...

Philippines affirms defense ties with US

The Philippines and the United States have reaffirmed their defense and security cooperation to ensure national and regional security amid a coronavirus pandemic. “Our alliance...

Metro kept under general lockdown

Metro Manila will remain under a general lockdown this November as coronavirus infections continue to rise amid a gradual reopening of the Philippine economy,...

Duterte urged to disclose wealth records

President Rodrigo R. Duterte should disclose his net worth after ordering a probe of all government agencies for corruption, a congressman said on Friday....

DFA forms team to probe Brazil envoy

The Department of Foreign Affairs (DFA) has created a team that will investigate the Philippines’ top envoy in Brazil for mistreating her Filipino domestic...

House honors lawmakers, workers who died during pandemic

The House of Representatives on Friday paid tribute to former congressmen and employees who passed away amid a coronavirus pandemic. Speaker Lord Allan Q. Velasco...

When it comes to food, consumers seek ‘nutrition that goes beyond satiety’ — expert

A renewed interest in personal health and the environment is driving the way food products are marketed to consumers. “The emphasis has shifted from...

PBA Philippine Cup proceedings take a pause

By Michael Angelo S. Murillo The Philippine Basketball Association moved to postpone all games in the Philippine Cup beginning Friday, Oct. 30, until new protocols...

Mondelez Philippines and Plastic Flamingo launch partnership

Snacks Company Strengthens Commitment to Recycling Plastic pollution is one of the most challenging environmental issues in the world. While plastic remains a valuable resource...

LGBT+ employees put at a disadvantage by ‘silent biases’ amid COVID-19

By Mariel Alison L. Aguinaldo  The COVID-19 pandemic poses unique challenges to the LGBT+ workforce, which their employers might not realize. Gender discrimination when it comes...


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Meralco prepares for typhoon Rolly

Advises customers to practice electrical safety measures The Manila Electric Company (Meralco) said today in a statement that it is gearing all efforts to prepare...
video

BusinessWorld Insights: Reducing Carbon Emissions for a Sustainable Future

https://www.youtube.com/watch?v=8aMeerZGHks How is the Philippines doing in terms of achieving a low-carbon economy? How do locally-based firms take action in reducing their carbon footprint? Join the second...

Video streaming experience is better using the Globe network   

Globe is giving consumers something to be happy about as its network upgrades are showing positive changes especially when it comes to better viewing...

EDC, ASUS team up to provide free laptops to SIKAT scholars

The current “new normal” brought about by the coronavirus disease (COVID-19) has shifted everyone’s life from face-to-face interaction to virtual events and interactions, including...

UnionBank nabs eight accolades at 11th Retail Banker International Awards

Union Bank of the Philippines (UnionBank) recently won big at the prestigious Retail Banker International (RBI) Asia Trailblazer Awards, where it was able to...

‘Hot money’ flees for 7th straight month

“HOT MONEY” continued to exit the Philippines for the seventh straight month in September, as investors worried over the extension of some lockdown restrictions due to the rise in coronavirus disease 2019 (COVID-19) infections.

Lenders expect tighter lending standards in fourth quarter

MOST BANKS remained strict in their loan standards during the third quarter, with many expected to further tighten lending criteria in the fourth quarter as the pandemic drags on, according to a survey by the Bangko Sentral ng Pilipinas (BSP).

Budget department releases P78 billion to boost Philippines’ pandemic response

THE BUDGET department released more funds from the government’s second stimulus package, but economists said the sluggish disbursement so far may hamper the Philippines’ recovery.

NG outstanding debt drops to P9.37 trillion

THE National Government’s (NG) total outstanding debt stood at P9.369 trillion at the end of September, 2.6% down from the previous month after the repayment of its short-term loan from the Bangko Sentral ng Pilipinas (BSP).

Startup DITO rejects ‘3rd telco’ title, seeks market dominance

TELCO STARTUP DITO Telecommunity Corp. is hoping to dominate the market, saying it will also roll out a “superior” fifth generation (5G) network to beat its competitors.

IMI swings to $9-million income

AYALA-LED Integrated Micro-Electronics, Inc. (IMI) returned to profit in the third quarter as its operations started picking up after the coronavirus-related lockdowns were eased.

Solar firms want more foreign equity stake

THE Energy department should craft a policy that removes the 40% foreign ownership cap on solar energy projects, developers said, after the agency announced on Tuesday that it is opening large geothermal development to foreigners.