‘Remarkable’ rebound seen this year
THE WORST is over for the pandemic-hit Philippine economy, and a “remarkable rebound” is expected this year, the central bank chief said on Tuesday, adding that the current accommodative monetary stance is sufficient for a revival in growth.
More dollars flow in for 5th month
THE PHILIPPINES continued to get more dollars in November, driving a balance of payments (BoP) surplus that was the biggest in six months but still smaller than a year ago, the Bangko Sentral ng Pilipinas (BSP) said in a press release on Thursday.
NFA's bidding for 203,000 MT of rice fails
THE National Food Authority (NFA) has failed to secure the remaining balance for the additional 250,000 metric tons (MT) of rice after the governments of Thailand and Vietnam has pulled out from the bidding.
Most companies shelve expansion plans — survey
MOST companies have put expansion and investment plans on hold due to the coronavirus disease 2019 (COVID-19) pandemic, according to a survey released by the Employers Confederation of the Philippines (ECoP).
Peso rebounds ahead of Fed review
THE PESO recovered on Tuesday as market players sold dollars to take position ahead of a possible interest rate cut by the US central bank.
SM to acquire 34% of Goldilocks
SM Investments Corp. said it is in the final stages of acquiring a 34% stake in Goldilocks Bakeshop, Inc., months after the deal to...
Metro Manila seen benefiting from ‘smart city’ tech — McKinsey
MCKINSEY Global Institute (MGI) said “smart city” solutions may help resolve problems in managing urban development in Metro Manila.
Online payments hit 77% of total tax collections, BIR says
AROUND 77% of all taxes collected as of mid-June were coursed through electronic payment (e-payment) channels, the Bureau of Internal Revenue (BIR) reported, after the lockdown coincided with income tax season.
URC to build P1-B Vita Soy facility
UNIVERSAL ROBINA Corp. (URC) is investing around P1 billion to build a new facility that will locally produce its Vita Soy drinks, its chairman said.
HSBC Philippines president resigns
HSBC (Philippines), Ltd. said its president and chief executive officer Jose Arnulfo "Wick" A. Veloso has stepped down from his position.
In a statement, HSBC...
Inflation surge spurs rate hike view
INFLATION surged in June to a fresh five-year high as it beat market and government estimates given for the month, leaving the door open for another policy interest rate hike.
PHL companies gauge coronavirus impact
THE country’s top companies are beginning to assess the impact of the coronavirus disease 2019 (COVID-19) outbreak on their businesses, warning of lower consumer demand and continued operational disruption in the coming weeks.