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Tag: Jenina P. Ibañez

DoE and NDRRMC coordinating power needs in volcano-affected areas

THE Department of Energy (DoE) is coordinating with the National Disaster Risk Reduction and Management Council on controlling the electricity supply in the immediate vicinity of Taal volcano in case of a hazardous eruption.

PCC backs classification of motorcycle taxis as public transport

THE COUNTRY’S antitrust watchdog has expressed support for the classification of motorcycle taxis as a mode of public transport as it continues to call for market-driven competition.

CHED chairman welcomes review of UP-Ayala lease contract

THE Commission on Higher Education (CHED) welcomed the government’s review of Ayala Land, Inc.’s (ALI) contract to develop a property of the University of the Philippines (UP) in Diliman, Quezon City.

Philippines drops in global corruption index

THE Philippines slipped 14 spots in a global corruption index released on Thursday by Transparency International, which said “a staggering number of countries are showing little to no improvement in tackling corruption.”

Start-up incubator QBO Innovation Hub plans to take in nearly 150...

QBO Innovation Hub plans to take on board nearly 150 new start-ups in 2020 to address a shortage in the number of job-generating innovators, an official of the start-up incubator said.

Exporter usage of EU’s GSP+ preferential scheme at 25%

THE Philippines’ utilization rate on its preferential trade scheme with the European Union (EU) is estimated to have remained at 25%, Delegation of the European Union to the Philippines Chargé d’ Affaires Thomas Wiersing told reporters at a press conference on Monday.

PHL slides a notch in global democracy index

THE Philippines slipped one place to No. 54 out of 167 countries in London-based think tank Economist Intelligence Unit’s democracy index for 2019, citing the Southeast Asian nation’s “flawed democracy.”

Outsourcing sector taps ad agencies to lure investors

THE Information Technology and Business Process Association of the Philippines (IBPAP) plans to work with advertising agencies to attract more investment in the outsourcing sector this year.

Hyundai reports 6% fall in car sales last year

HYUNDAI Asia Resources Inc. (HARI) car sales dropped 6.1% in 2019 after participating in fewer market segments.

Mondelēz invests in recyclable packaging facility

MONDELĒZ Philippines, Inc. looks to showcasing the results of its Parañaque-based recycling facility to Metro Manila local government units for possible replication.

Ecozones’ contingency plans geared for heavier Taal ashfall

ECONOMIC ZONES are evaluating their disaster preparations in the event of further activity from Taal volcano, with the industry association considering the likeliest scenario to be more ashfall.

Southeast Asia remains FDI bright spot, led by Singapore

FOREIGN direct investment (FDI) in Southeast Asia continued to grow in 2019 even as global investment flows remained flat, the United Nations Conference on Trade and Development Investment Trends Monitor said.

PEZA building new headquarters on Roxas Boulevard

THE Philippine Economic Zone Authority (PEZA) plans to build a new headquarters on Roxas Boulevard in Pasay City, with construction expected to take three or four years.

Government aligning tariffs with Hong Kong-China free trade deal

THE government is modifying the tariffs on products from Hong Kong, China and ASEAN member states as part of its commitments under a free trade agreement.

Company gives away 100,000 face masks

A MEDICAL mask maker is donating more than 100,000 face masks to areas affected by the Taal Volcano eruption, the Trade department said in a statement on Monday.

Filipino success still not totally based on hard work, says study

THE Philippines placed 61st among 82 nations in a report measuring social mobility, suggesting that Filipino success does not depend entirely on hard work and is likely to be affected by family and socioeconomic background.

PEZA expects higher investments if ‘investor-friendly’ CITIRA is passed

THE Philippine Economic Zone Authority (PEZA) is targeting to grow investments by 5-10% this year, amid lingering investor concern over the government’s plan to rationalize incentives.

BoI investment pledges hit P1.14-T

THE BOARD of Investments (BoI) approved a record P1.14 trillion in investment pledges last year, thanks to the country’s strong fundamentals and steady business and consumer confidence, the Trade department said on Thursday.

PCCI ties up with TESDA for nationwide job training

A NATIONAL business chamber is partnering with the Technical Education and Skills Development Authority (TESDA) to create a nationwide, pre-employment training system.

Climate change seen reducing outdoor work, dampening growth

EXTREME heat caused by climate change puts the Philippines at risk of losing many hours of outdoor work in industries like construction or farming, dampening economic growth, the McKinsey Global Institute said.

DTI offers loans to shops near Taal Volcano

THE Department of Trade and Industry (DTI) is offering P50 million in loans to businesses that will either rebuild structures damaged by Taal Volcano’s eruptions or relocate there.

DoH freezes prices of medical goods in Batangas calamity zone

THE Department of Health (DoH) has ordered a price freeze on 218 medicines as well as other medical goods in Batangas province, following widespread panic-buying of N95 masks, which are rated for filtering out volcanic dust.

Bamboo industry targets 19,000 hectares for new plantations

THE Philippine Bamboo Industry Council (PBIC) plans to convert at least 19,000 hectares of land into bamboo plantations this year, including 13,000 hectares in the Western Visayas.

Car sales bounce back in 2019

AUTOMOBILE SALES in the Philippines slightly recovered in 2019, as December sales posted the fourth month of continuous growth, according to a joint report from the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association (TMA) released on Tuesday.

Companies’ optimism on PHL economy declines

BUSINESS LEADERS’ optimism in the Philippine economy slumped to its lowest level since the first quarter of 2016, according to the Grant Thornton International Business Report (IBR) released by P&A Grant Thornton on Tuesday.

PEZA exploring new sources of revenue

THE Philippine Economic Zone Authority (PEZA) is creating a technical working group to explore new income streams, the agency said in a statement Wednesday.

Bacoor pitches reclamation as a flood control measure

THE PROPOSED 420-hectare reclamation project along CAVITEX in Bacoor City is expected to address flooding and facilitate the relocation of informal settler families, the Bacoor City government said in a statement on Monday.

Trade deals ease health worker mobility — WTO

PHILIPPINE trade deals that grant access to health workers in partner countries represent a “substantive commitment” to allow a measure of worker mobility in the health care sector, the World Trade Organization (WTO) said in a working paper.

Construction costs rose by 15% on labor shortage, say builders

CONSTRUCTION projects take on an additional 10-15% in costs due to a shortage in skilled construction workers and necessary equipment, Chamber of Real Estate and Builders’ Association (CREBA) Chairman Charlie A. V. Gorayeb said.

SEC warns against investing in Inochi rewards scheme

By Jenina P. Ibañez THE Securities and Exchange Commission (SEC) is warning the public against investing in a rewards program called Inochi/Inochi Rewards, which it...

Trade department calls for stricter monitoring of building-code norms

TRADE SECRETARY Ramon M. Lopez said local governments should ensure that they issue building permits only to construction projects that comply with the building code and use materials that meet product quality standards.

Construction sector loses as much as 35% of costs to corruption...

THE CONSTRUCTION industry spends as much as 35% of its costs to pay corrupt officials, higher than its profit, according to a think tank.

Duterte’s water rants baffle, spook investors

A SHAREHOLDER of Maynilad Water Services, Inc. was at a loss as to what prompted President Rodrigo R. Duterte to resume his attacks on Metro Manila’s water concessionaires, after the company last year expressed its willingness to discuss new contract terms with the government.

Tourist arrivals boost sales of Duty Free Philippines

Duty Free Philippines Corp. (DFPC) doubled its sales growth in 2019 after a spike in tourist arrivals attributed to the Southeast Asian games and the rehabilitation of Boracay Island.

Labor shortage seen to lift workers’ pay

DMCI HOLDINGS, Inc. Chairman and President Isidro A. Consunji expects construction workers’ take home pay to increase as the construction industry experiences labor shortages.

JoyRide readies Cebu expansion

JOYRIDE plans to expand outside Metro Manila and set up shop in Cebu ahead of the March 23 termination of the study that allows motorcycle taxis to operate.

Japan trade deal failed to benefit PHL machinery

THE Japan Philippines Economic Partnership Agreement (JPEPA) negatively impacted machinery and mechanical exports even as it benefited Philippine exports overall, according to a study from the Philippine Institute of Development Studies.

Billionaire ramps up expansion of wellness resort in Batangas

LUXURY medical wellness resort The Farm at San Benito is constructing residential and retirement facilities on its 48-hectare property over the next three years.

Farmers ask DTI to help boost their attractiveness to banks

THE Philippine Chamber of Agriculture and Food, Inc. (PCAFI) is urging the trade department to assist farmers in developing business plans to make them more attractive loan clients for banks.

Businesses prepare to deal with worker shortage

BUSINESS GROUPS are preparing to deal with the looming shortage of construction workers, as the government continues to implement several big-ticket infrastructure projects this year.

DTI seeks sugar imports for food industry to stay competitive

TRADE Secretary Ramon M. Lopez said the sugar regulator needs to allow the food industry that sells to domestic markets to import sugar if local sugar prices cannot match import prices for the sweetener.

Antitrust body wants dawn raids without writ

THE Philippine Competition Commission (PCC) wants Congress to empower it to conduct dawn raids without a court order, as it bolsters its probe of dishonest or fraudulent rivalry in trade and commerce, according to the agency’s year-end report.

Business group eyes GDP growth of as much as 7.5%

A BUSINESS chamber said the economy would probably grow by as much as 7.5% this year, thanks to continuing reforms, increased infrastructure spending and a benign inflation environment.

AirAsia adds more local and international flights

PHILIPPINES AirAsia, Inc. said on Friday that it was increasing the frequency of flights in high demand domestic and international destinations.

JoyRide set to reach 10,000 bikers next month

MOTORCYCLE ride-hailing service JoyRide expects to hire more bikers and reach the 10,000 cap by February after an inter-agency technical working group imposed the limit on motorcycle taxis, including the more established Angkas.