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Cebu Pacific taps local banks for P16-B loan

Cebu Air, Inc., operator of budget carrier Cebu Pacific, on Friday said its board approved a P16-billio, ten-year loan from local banks. In a disclosure...

Mega Global expands operations in Zamboanga

Sardines manufacturer Mega Global Corporation launched its newest headquarters and plants as it expands its Zamboanga operations. The company recently launched its Cawit-based headquarters and...

Isuzu warns against unauthorized selling

Isuzu Philippines Corporation (IPC) is warning the public against buying and selling Isuzu-branded cars without authorization. The company in a notice said that it found...

Plaridel expansion set to open in April

WIDENING WORKS at Plaridel Bypass in Bulacan will be completed by the end of the month in time for an April launch, the Department...

February outsourcing operation inquiries rise

INTEREST in establishing outsourced operations in the Philippines grew by nearly a third in February, driven by overseas companies looking for ways to operate more efficiently during the pandemic, advisory group Outsource Accelerator said.

IP monitors can now ask platforms to take down ads for...

THE Intellectual Property Office of the Philippines (IPOPHL) has authorized its enforcement unit to request the removal of online posts and advertisements for counterfeit and pirated goods.

BoI-approved pledges rise to P122B

INVESTMENT PLEDGES approved by the Board of Investments (BoI) surged by 156% in the first two months, despite a drop in commitments from foreign investors as the pandemic continued.

Ranks of super-rich set to grow in Philippines

THE number of super-rich Filipinos is likely to grow over a five-year period in line with a global trend, the annual wealth report from real estate consultant Knight Frank said.

Healthcare infrastructure seen requiring extensive private sector investment

THE PHILIPPINES must focus its public–private partnership (PPP) investment on healthcare infrastructure to best prepare for future crises, government and private sector leaders said.

Two-thirds of PHL employers plan to get COVID vaccines for workers

TWO-THIRDS of Philippine employers are planning to buy coronavirus disease 2019 (COVID-19) vaccines for their workforce, a survey from global advisory firm Willis Towers Watson and the People Management Association of the Philippines found.

PEZA renews push for defense economic zones

THE Philippine Economic Zone Authority (PEZA) is aiming to have military reservation areas declared as defense industrial economic zones before the end of the Duterte administration.

Philippine economy may recover earlier than 2023, says Trade chief

THE PHILIPPINE ECONOMY may return to its pre-pandemic level earlier than 2023, Trade Secretary Ramon M. Lopez said, as the Philippines began its coronavirus disease 2019 (COVID-19) vaccination program on Monday.

Two PHL real estate agencies merge

REAL ESTATE agencies PHILGEMS Realty Corp. and IQI Caliver on Thursday announced a merger to service developments in Ortigas Center, Bonifacio Global City, and Makati City.

Creatives seek more representation in industry council

CREATIVE industry groups are requesting broader representation in the council proposed under a measure being considered by the Senate which will develop the sector.

Lazada, Shopee sign agreement to crack down on fakes

E-COMMERCE PLATFORMS Lazada and Shopee have signed an agreement establishing a procedure for dealing with counterfeit products on their platforms, in coordination with brand owners.

Coronavirus forces agencies to ease bureaucratic red tape

WHEN a coronavirus lockdown barred Tina Cuyugan, 60, from making the trip to a small town in the Bicol Region to pay property taxes, she reached out to the municipal office in December to find out how she could pay.

Permit process for fiber optics projects next up for streamlining

THE Anti-Red Tape Authority (ARTA) said it will include fiber optics and broadcast tower projects to its list of telecommunications works where the permit process requires streamlining.

Modest expo sales target set for PHL food firms

Philippine food companies participating virtually in the largest food and beverage trade event in Asia have been set a sales target of $14.05 million this year.

Companies cautious on recovery as lockdown kept

COMPANIES in various industries are keeping a cautious outlook on recovery this year, after Malacañang decided not to loosen lockdown restrictions.

Fewer countries exempted from safeguard duties on car imports — Trade...

FEWER COUNTRIES will be exempt from duties placed on car imports after the government reassessed its developing economy classifications to comply with international rules, the Department of Trade and Industry (DTI) said.

BPOs report productivity boost from remote work arrangements

PRODUCTIVITY in the outsourcing industry rose in 2020 following the extensive adoption of remote work arrangements, the Information Technology and Business Process Association of the Philippines (IBPAP) said.

Auto workers claim sufficient standing to seek safeguard duties

AUTO WORKERS who sought safeguard duties on car imports asserted their standing to file such a petition after being queried about whether they actually represent the industry.

Yamaha allots nearly P3 billion for manufacturing expansion

YAMAHA MOTOR Philippines, Inc. has launched a P2.7-billion factory expansion at the Lima Technology Center in Batangas to increase its Philippine manufacturing operations.

Coca-Cola to invest P3 billion to boost production in Luzon

THE Coca-Cola Company plans to invest an initial $63 million (around P3 billion) in its Philippine operations this year to expand Luzon-based production.

Nationwide round-up (02/23/21)

THE Senate on Tuesday approved on third and final reading a measure seeking to expedite the procurement of vaccines against the coronavirus disease 2019 (COVID-19) and set an indemnification fund.

Regulator investigating Cashalo data breach

THE National Privacy Commission (NPC) is investigating a potential data breach involving 3.3 million users of online lending platform Cashalo, a joint venture between JG Summit Holdings subsidiary Express Holdings, Inc. and Hong Kong-based Oriente.

PHL tops ‘Women in Business’ survey

THE PHILIPPINES has again topped a global survey on the role of women in senior management, with more women taking on top roles in mid-market businesses compared with 29 other economies.

BoI approves incentives for electric vehicle tech startup

THE Board of Investments (BoI) has approved start-up company CHRG Electric Vehicle Technologies Inc. as a new domestic producer of electric vehicle (EV) fast chargers and retrofit kits under the Investment Priorities Plan.

Regulator warns against possible weakening of competition under FIST law

THE Philippine Competition Commission (PCC) warned against the possible competition-weakening effects of a recently-signed law that will relieve banks of non-performing loans.

Leopard Connectivity denies anti-competitive barrier

THE firms facing a complaint from the competition regulator for limiting condominium residents to an affiliated internet service provider (ISP) have denied impeding competition.

PHL’s trade privileges with UK underused, exporters say

EXPORTERS said the Philippines’ trade privileges with the UK are currently underutilized, and urged businesses to tap the opportunities for duty-free export to that market.

Patented tech now eligible for incentives under Investment Priorities Plan

THE latest Investment Priorities Plan (IPP) now recognizes as eligible for incentives any projects that facilitate the entry of patented technologies into the market.

NPC recommends prosecution of Fynamics Lending

THE National Privacy Commission (NPC) has recommended the prosecution of Pondo Peso online lending app operator Fynamics Lending Inc. for using the personal information...

MRT-7 to open by end-2022

San Miguel Corporation (SMC) on Friday said the Metro Rail Transit Line 7 (MRT-7) project is now 54% complete, on track for its opening...

Antonio eyes settlement with Revolution Precrafted’s suppliers, contractors

Revolution Precrafted Properties Inc. is discussing potential settlements with suppliers and contractors that filed complaints against the start-up company with the National Bureau of...

Singapore start-up enters Philippines market

The Ayala Corp. fund for startups will inject $2 million into internet distribution technology from a Singapore-based company, venture capital firm Kickstart Ventures Inc....

Groups warn of lost opportunities amid COVID-19

PHILIPPINE business groups on Thursday urged the government to further ease lockdowns to fast-track economic recovery amid a coronavirus pandemic.

DTI restores ceramic tile quality-certification

CERAMIC TILES have been returned to the list of products that must be certified for quality before being allowed for sale in the Philippines.

Pandemic derails gains made by PHL creative industry

THE GROWTH of the creative economy was stunted during the pandemic as entertainment industry operations either stopped or slowed down, the Department of Trade and Industry said.

Car importers question petition for safeguards

THE LEGAL representatives of industry groups affected by safeguard duties on car imports are questioning the validity of the petition for the protection measure filed by a labor group.

ARTA: Lack of automation at BAI an inflation risk

THE Anti-Red Tape Authority (ARTA) has asked the Bureau of Animal Industry (BAI) to automate its processes to help bring down the cost of produce and contain inflation.

Philippines’ sole newsprint manufacturer halts operations

THE COUNTRY’S sole newsprint manufacturer is looking to restart operations in the second half after it stopped production last year.

Nationwide round-up (02/16/21)

THE National Privacy Commission (NPC) is warning teachers against posting on social media photos or video clips collected from online classrooms to protect the privacy of students.

Trade department mulls order vs installment-only vehicle payment schemes

THE Department of Trade and Industry (DTI) may draft an order against installment-only payment schemes for vehicles, including motorcycles.