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Daily Archives: January 8, 2021 | 8:09 pm

October FDI net inflows lowest since April

By Beatrice M. Laforga, Reporter Foreign direct investments (FDI) to the Philippines in October fell to the lowest level in six months, amid a fresh...

November trade deficit narrowest since June

By Arjay L. Balinbin, Senior Reporter The Philippine trade deficit dropped to its lowest level in five months in November, suggesting that trade could contribute...

Central bank raises P100 billion in short-term bills

By Beatrice M. Laforga, Reporter The Philippine central bank fully awarded the short-term securities it offered on Friday as tenders nearly doubled the program at...

Russian drugmaker seeks vaccine emergency use

Russia’s Gamaleya Research Institute of Epidemiology has applied for emergency use authorization for its coronavirus vaccine in the Philippines, according to the local Food...

Philippines on lookout for 3 virus strains

Health authorities are monitoring the entry of two other coronavirus variants aside from a more contagious strain from the United Kingdom, where there had...

Coronavirus cases nearing 484,000

The Department of Health (DoH) reported 1,776 coronavirus infections on Friday, bringing the total to 483,852. The death toll rose by eight to 9,364, while...

House to start cha-cha debates next week

The House of Representatives will start debates on a resolution proposing changes to the 1987 Constitution on Jan. 13, a congressman said on Friday. Party-list...

Senator seeks dismissal of illegal drug case

Detained Senator Leila M. de Lima has asked a Muntinlupa City court to dismiss her second drug-related charge for insufficiency of evidence. In an 82-page...

Senate to probe sex for gadgets

A senator has filed a resolution seeking to investigate the rising cases of sexual exploitation of children by online predators amid a coronavirus pandemic. “The...

Cash aid for employees to resume

The Employees Compensation Commission (ECC) will resume giving cash aid to employees who got the coronavirus after suspending the program in September over budget...

Jollibee to open 28 stores in North America in 2021

Jollibee Food Corp. (JFC) plans to open 28 stores in North America in 2021 as part of its expansion efforts in the continent. In a...
Securities and Exchange Commission (SEC) logo

SEC offers relief for pandemic-hit financing, lending firms

The Securities and Exchange Commission (SEC) has offered regulatory relief to financial and lending companies to help them cope with the effects of the...

AC Energy sets earlier date for stock rights offering

Ayala-led AC Energy Philippines, Inc. has moved the rights offer period for its stocks to this month, saying it deemed the earlier date to...

GCash operator raises over $175M in fresh capital; valuation nears $1B

Globe Fintech Innovations, Inc. (Mynt), operator of mobile wallet GCash, has raised more than $175 million in fresh capital from investment firm Bow Wave...

Jobs recovery plan highights safe workplaces, confidence, small-business loans

The labor department said its recovery blueprint for employment will enlist multiple government agencies to bring about safer workplaces, improved business and consumer confidence,...
DoF main office

CREATE needs to pass in Jan. for firms to realize tax benefits by April...

FINANCE Secretary Carlos G. Dominguez III said the bill lowering corporate income taxes needs to get past the bicameral conference committee by the end...

Meralco to increase power rates in January

Residential customers in Metro Manila will be charged more for power in January, with the typical household expected to pay an additional P55, Manila...
pork butcher shop

Pork prices rise as hog raisers scale back production due to ASF

THE rise of pork retail prices in Metro Manila was caused by a scaling back of production by commercial hog raisers due to the...

MARINA lifts freeze on accrediting maritime training courses, assessment centers

The Maritime Industry Authority (MARINA) said it lifted the moratorium on the accreditation of maritime training courses and assessment centers. MARINA Administrator Robert A. Empedrad,...

ERC case rulings rise 21% in 2020 after adoption of video hearings, electronic filing

The Energy Regulatory Commission (ERC) said Friday that the number of cases it concluded in 2020 rose 21%, aided by the adoption of videoconferencing...

Fast track sought for measure closing POGO tax loophole

THE House of Representatives needs to fast-track a measure closing a loophole in a tax law authorizing the collection of a 5% franchise tax...

Banks see wholesale/retail recovering fastest among hard-hit industries

Bankers said wholesale/retail will recover the fastest among the industries most heavily affected by the lockdown, while accommodation services and transport could take up...

Company leaders should embrace ‘infinite mindset’ and share their struggles — motivational speaker

“Ask for help and be there for others,” said Simon Sinek, author and motivational speaker, in his first blog post for 2021, which listed...

Peso weakens as new coronavirus cases spike

The peso closed weaker Friday after the Health department reported a larger-than-usual group of new coronavirus infections on the day, about a week removed...

Local shares end higher as US Congress confirms Biden’s win

Philippine stocks closed higher on Friday as investor sentiment took cues from markets abroad after the US Congress affirmed the win of President-elect Joseph "Joe" R. Biden, Jr. The bellwether Philippine Stock Exchange index (PSEi) climbed 170.27 points or 2.39% to end at 7,289.88. The broader all-shares index also improved, by 82.78 points or 1.94% to 4,354.27.

Meeting Filipinos’ financial needs during the pandemic

Beyond cashless payments and transactions, GCash widens access to various financial services From taking its initial steps, the adoption of cashless payments and transactions has...

InLife’s Steps for a Cause reaches out to nine charitable institutions

Insular Life (InLife) and Insular Foundation donated over P600,000 to nine health institutions and charitable organizations through its “Steps for a Cause”employee volunteer campaign. Since...

Digitalization A Must Even More Amid the Pandemic: But are Businesses Ready?

The TCS COVID-19 Business Impact Survey 2020 offers insights on how to navigate the changing business landscape By: Shiju Varghese - Country Head, Tata Consultancy...

UnionBank acclaimed by Frost & Sullivan for Superior Customer Experience and Digitized Solutions in...

The only PH organization among the awardees Based on recent analysis of the Philippines customer experience solutions in the banking industry, Frost & Sullivan recognized...

BSP adopts new bank rating system

THE Bangko Sentral ng Pilipinas (BSP) started implementing this month a new compliance rating system for banks called the Supervisory Assessment Framework (SAFr), which it hopes will ensure stability in a post-pandemic environment.

Local airlines feel the pressure as new COVID variant dents demand

THE new strain of the coronavirus disease 2019 (COVID-19) will likely place renewed pressure on the finances of airlines, as countries reimpose lockdowns and travel bans, analysts said.

PHL retail sales unlikely to return to pre-pandemic levels this year

RETAILERS still expect sales to remain lower than pre-pandemic levels this year, as consumers continue to stay home and scale back on their spending amid the pandemic.

SE Asia’s 2020 steel consumption down 6.2%-8.7%

STEEL CONSUMPTION in Southeast Asia’s six biggest economies is estimated to have declined as much as 8.7% last year due to pandemic-driven lockdowns, and prospects for a quick rebound remain clouded, an industry group said on Thursday.

SEC approves Investree as country’s first crowdfunding portal

THE Securities and Exchange Commission (SEC) gave the go-signal for Investree Philippines, Inc. to start operating a crowdfunding platform that plans to link small, medium and emerging enterprises with banks and other lending institutions.

Meralco’s MGen takes majority stake in Bulacan solar company for nearly P159 million

MERALCO PowerGen Corp. (MGen) has gained control over a solar energy company in Bulacan by acquiring its co-owner’s shares for P158.95 million, its parent firm Manila Electric Co. (Meralco) told the local bourse on Thursday.

DBP lends Hijo Superfoods P645 million to ramp up sugar, banana flour production

STATE-RUN Development Bank of the Philippines (DBP) extended a P645-million loan to Hijo Superfoods, Inc. (HSI) to boost the local manufacturer’s coconut sugar and banana flour production for export.

Solutions for pandemic challenges sought in Final Pitch

FILIPINO business reality show, The Final Pitch, enters its sixth season with calls for non-profit organizations, startups, and innovators that have new solutions to address pandemic-related challenges to submit their pitches to join the show.

Axelum allots P350 million for 2021 capex

LISTED Axelum Resources Corp. has allocated around P350 million for its capital expenditures (capex) in 2021 to support its growth amid the coronavirus disease 2019 (COVID-19) pandemic.
POEA

OFW deployments estimated to have fallen up to 75% in 2020 — POEA

OVERSEAS WORKER deployments fell by up to 75% in 2020 as job markets shut down due to the pandemic while movement to work sites was hindered by travel restrictions, according to preliminary estimates issued by the Philippine Overseas Employment Administration (POEA).

Upscale hotels popular for New Year stays

A YEAR of pandemic restrictions have prompted travelers to ring in the new year with more upscale stays, according to travel booking website, Agoda.

Yields on gov’t debt to stay low

YIELDS on government bonds are likely to stay low this year, with a slight pickup seen in the later months, as financing pressure remains subdued, ANZ Research said.

ICTSI’s new service links Mindanao to Asia, Middle East

LISTED port operator International Container Terminal Services, Inc. (ICTSI) on Thursday said it had launched a service that connects Visayas and Mindanao (VisMin) to Asia and the Middle East.

BlackRock raps board of world’s biggest glove maker over worker safety

KUALA LUMPUR — The board of directors of Malaysian firm Top Glove Corp., the world’s largest maker of medical grade gloves, has failed egregiously in protecting its workers from COVID-19, US investor BlackRock said, calling for its removal.

Audit of DITO’s internet speed starts

THE 30-day audit of DITO Telecommunity Corp.’s connectivity and internet speeds in various areas of the Philippines has officially started, the telco startup announced on Thursday.

Best and the rest of 2020

YEAH yeah yeah