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Daily Archives: January 15, 2021 | 7:51 pm

Philippines’ dollar reserves hit new record

The Philippines’ dollar reserves reached a new all-time high as of end-2020, the central bank said on Friday. GROSS international reserves (GIR) — which shield...

Private sector pushes for urgent passage of CREATE

More than 50 private sector groups are urging lawmakers to immediately enact a bill that would cut corporate income tax and streamline fiscal incentives. Legislators...

Gov’t secures $13.3B for pandemic response from foreign sources

After securing $13.36 billion in loans and grants from foreign sources to finance its pandemic response last year, the government is now seeking to...

30,000 vaccinators needed to handle 24 million Filipinos – Duque

Over 30,000 personnel will be needed in the government’s rollout of mass vaccinations against the coronavirus disease 2019 (COVID-19). If the initial rollout of the...

SC pushes anti-terrorism law oral arguments to Feb. as Calida’s staff gets COVID-19

The Supreme Court (SC) on Friday announced that oral arguments on petitions against the Anti-Terror Law that were to be held next week have...

Pass pending economic bills instead of Cha-Cha urges DTI Chief

Deputy Speaker calls for early approval of economic amendments to Constitution It would be better to pass pending economic reform measures instead of pushing for...

2,048 more COVID-19 cases reported as PHL faces post-holiday surge

The Department of Health (DoH) on Friday reported 2,048 additional positive cases of the coronavirus disease 2019 (COVID-19) as the country faces a post-holiday...

Gov’t includes UAE, Hungary in PH travel ban

The government’s task force on pandemic response has included the United Arab Emirates (UAE) and Hungary in the list of countries with travel restrictions...

DOLE beefs up campaign vs firms violating health protocols; hotline for workers’ complaint launched

The Department of Labor on Employment (DOLE) is beefing up its campaign against business establishments that do not observe health protocols against the coronavirus...

FDA warns vs. purchase, use of AiDeLai face masks

The Food and Drug and Administration (FDA) has warned the public not to use two face mask brands which did not go through...

Meralco seeks ERC approval to refund P13.89 billion in over-recoveries

MANILA Electric Co. (Meralco) has asked the Energy Regulatory Commission (ERC) for approval to refund P13.89 billion worth of over-recoveries based on its actual...

DTI looking to include SMEs in gov’t vaccination program

THE DEPARTMENT of Trade and Industry (DTI) is gathering information from small businesses to potentially include them in the government’s vaccination program. Trade Secretary Ramon...

Central bank fully awards one-month bills

THE BANGKO SENTRAL ng Pilipinas (BSP) made a full P100-billion award of its short-term securities on Friday as demand remained strong due to ample...

BSP to prioritize financial stability as pandemic continues

THE CENTRAL BANK will prioritize financial stability as the coronavirus pandemic stretches on, Bangko Sentral ng Pilipinas Governor Benjamin E. Diokno said on Friday. “Supervisory...

Banks told to submit reports on accounts covered by AMLC freeze order

THE CENTRAL BANK has ordered lenders to submit reports on accounts tied to the Communist Party of the Philippines (CPP) and the New People’s...

Peso inches higher on record GIR level

THE PESO inched up against the greenback on Friday as the country's dollar reserves reached a record high last year. The local unit closed at...

MPIC gets $130M loan from Japan bank

Metro Pacific Investments Corporation (MPIC) signed a $130 million (P6.2 billion) loan from a Japanese bank to partially finance its investments this year. The company...

Megawide ready to move on from NAIA rehabilitation project

Megawide Construction Corp. is willing to move on to other projects if the Manila International Airport Authority (MIAA) board chooses not to reconsider its...

MerryMart wholesale operations to begin by April

MerryMart Consumer Corp. on Friday said it expects to begin its wholesale operations in April, after it completes a new logistics distribution center in...

PhilRatings gives A plus rating to Alsons’ commercial papers

Alcantara-led Alsons Consolidated Resources, Inc. (ACR) said it has received a "PRS A+" issuer credit rating with a stable outlook from the Philippine Rating...

PLDT Enterprise partners with AF Payments

The enterprise business arm of PLDT Inc. has partnered with AF Payments Inc. (AFPI) to enable a modernized fare system for the transportation sector....

Manila Water inks deal with San Jose water district

A consortium led by a Manila Water Company, Inc. subsidiary recently inked a deal with the San Jose City Water District (SJCWD) to develop...

Stocks drop on negative US data, stimulus concerns

STOCKS ended lower on Friday on negative US data and news of fresh stimulus to boost the world's largest economy. The benchmark Philippine Stock Exchange...

Apple plans upgraded MacBook Pros with return of magnetic charging

Apple Inc. is planning upgraded MacBook Pro laptops this year with much faster processors, updated displays and the return of its magnetic charger, according...

PSC case against payroll cheats goes to regional trial court

The Department of Justice found probable cause on the complaint filed by the Philippine Sports Commission (PSC) and the National Bureau of Investigation against...

Samsung launches new flagship Galaxy S smartphone early

SEOUL - Samsung Electronics Co Ltd on Thursday unveiled the first Galaxy S smartphone with a stylus for on-screen work called the S Pen,...
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BusinessWorld One-on-One: Philippine Business Outlook 2021

https://www.youtube.com/watch?v=JP5Jvg-_x0w Without a doubt, the coronavirus disease 2019 (COVID-19) pandemic has left the economy on its deepest slump. However, experts projected that the worst might...

Phinma Properties launches Likha Residences

Inspired by traditions, modern architecture, and the needs of Filipino families, PHINMA Properties has opened the doors for its latest project, Likha Residences last...

Lexus LM 350 gives a new space for comfort and luxury

Authentic luxury, when bundled with uncompromised performance and design, makes for a very delightful experience for both car riders and passengers. This is what...

Leading beyond recovery: Francis Lim at the helm of FINEX

In its storied 53-year history, the Financial Executives Institute of the Philippines (FINEX) has had a number of lawyers serving as President of the...

Chevron finishes strong in 2020 with 30 new Caltex stations, new products and promotions

New leadership sees 2021 breakthrough with more expansion as economy recovers Chevron Philippines Inc. (CPI) concludes 2020 strong by opening more than two stations per...

FEU partners with Harvard in webinar that discusses innovative and collaborative governance among Philippine...

Titled “Urban-novation: Multisector Solutions to Local Development Challenges”,  the webinar that hopes to jumpstart a collaboration between Harvard Kennedy School (HKS) Ash Center and...

OFW remittance growth slows in Nov.

MONEY sent home by overseas Filipino workers (OFWs) in November grew by its slowest pace in three months, with cash remittances reaching its lowest level since May as lockdowns were reimposed in some countries due to a spike in coronavirus cases.

Full-year 2020 and December 2020 car sales

CAR SALES slumped in 2020, after a holiday demand spike failed to make up for the plunge in demand during the coronavirus-induced lockdown, data from two automotive industry groups showed.

Coronavirus slams PHL vehicle sales in 2020

CAR SALES slumped in 2020, after a holiday demand spike failed to make up for the plunge in demand during the coronavirus-induced lockdown, data from two automotive industry groups showed.

PEZA investments drop 19% as pandemic drags on

INVESTMENTS approved by the Philippine Economic Zone Authority (PEZA) dropped by nearly a fifth in 2020 after stringent lockdown restrictions dented domestic investor confidence.

Lockdown is last resort amid new COVID-19 variant — NEDA

REIMPOSING a strict lockdown should be the last resort for the government, according to Acting Socioeconomic Planning Secretary Karl Kendrick T. Chua, despite the detection of the highly infectious variant of the coronavirus in the country.

FMIC expects PSEi to hit 7,800-8,100 at end-2021

THE PHILIPPINE Stock Exchange index (PSEi) is projected to reach the range of 7,800 to 8,100 at the end of the year on the back of the impending distribution of vaccines against the coronavirus disease 2019 (COVID-19), according to First Metro Investment Corp. (FMIC).

Fruitas sets aside up to P270 million for 2021 capex

FRUITAS Holdings, Inc. has allotted P240 million to P270 million for its capital expenditure budget in 2021 to fund its expansion and future acquisition plans.

Holcim Philippines allots P121.5M to improve alternative fuel processing facility

HOLCIM PHILIPPINES, Inc. has invested P121.5 million until 2022 to improve the alternative fuel processing facility at its cement plant in Norzagaray, Bulacan.

AirAsia launches e-shopping in PHL; food delivery, e-wallet to follow

AFTER launching its online shopping platform in the Philippines, AirAsia Group Berhad is also hoping to make its food delivery and digital wallet services available to Filipino consumers soon.

M3 growth eases on slow lending

Money supply logged its sixth straight month of slower growth in November as lending continued to ease amid the coronavirus pandemic.

Multisys’s StaySafe.ph removes GPS, Bluetooth for data privacy

MULTISYS TECHNOLOGIES Corp., the developer of StaySafe.ph, has removed the GPS and Bluetooth features of the contact-tracing app to ensure “zero surveillance.”

BSP advances to gov’t to cease when economy recovers

THE CENTRAL BANK’S direct advances to the National Government are not considered as debt monetization and are temporary in nature due to the coronavirus crisis, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said.

With move to Viva, singer Mark Carpio to provide movie theme songs

“HILING” hitmaker Mark Carpio is the most recent addition to Viva Records’ growing slate of singers and songwriters, coming shortly after announcements that KPop star Minzy and R&B singer Daryl Ong also joined the recording company.