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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.

Philippines, Laos sign IP cooperation agreement

THE Intellectual Property Office of the Philippines (IPOPHL) said it signed a memorandum of cooperation (MoC) with the Lao People’s Democratic Republic’s Department of Intellectual Property (DIP) to mutually promote and improve intellectual property systems.

Philippine Pavilion to showcase creative industry

DUBAI — Philippine participation in international trade fairs is usually the work of small businesses, touting banana chips and coconut oil for possible export. But participation in the world’s fair — a six-month international exhibition to showcase “the achievements of nations” — means a different kind of export: creativity.

NEDA issues national transport policy implementing rules

THE National Economic Development Authority (NEDA) released on Monday the Implementing Rules and Regulations (IRR) of the National Transport Policy.

CITEM sets $336-M export order target from events lineup

THE Center for International Trade Expositions and Missions (CITEM) set a $336 million target for export orders across its events for 2020.

DTI no longer pursuing safeguard duties on ceramic tile imports

THE Department of Trade and Industry (DTI) will no longer apply safeguard measures on ceramic floor and wall tile imports, Trade Secretary Ramon M. Lopez told reporters last Friday.

DTI assists more than 100,000 micro-entrepreneurs via P3 program

THE DEPARTMENT of Trade and Industry (DTI) has assisted over 110,000 micro-entrepreneurs after releasing P5.1 billion worth of loans through its Pondo sa Pagbabago at Pag-asenso (P3) program.

DTI studying expanding trade with Africa, posting attaché next year

THE Department of Trade and Industry (DTI) said it will study the expansion of exports to Africa, particularly Kenya and Egypt, which it views as having the potential to consume substantial quantities of Philippine goods.

Tiny proportion of small firms linked to global supply chain —...

ONLY A SMALL SHARE of Philippine small businesses are connected to the global supply chain, with 1.3% of 530 surveyed companies directly exporting in 2016, the Philippine Institute for Development Studies (PIDS) said.

Service sector gains 4 million jobs between 2012 and 2018

SERVICE SECTOR jobs increased by more than four million between 2012 and 2018, led by professional scientific and administrative support workers, the Philippine Institute for Development Studies (PIDS) said.

Trade Secretary Lopez studying Recto tax bill

TRADE SECRETARY Ramon M. Lopez is studying an exporter-supported bill proposing to immediately reduce corporate income tax from 30%.

Gov’t simplifies procedures for EU-bound goods

THE GOVERNMENT has moved to simplify procedures for Philippine exporters to the European Union (EU), as the Bureau of Customs (BoC) released guidelines for self-certification of origin in order to avail of lower tariffs under the EU’s Generalized System of Preferences (GSP).

DTI targets calamity zones, poorest LGUs for livelihood kits

THE Department of Trade and Industry (DTI) is producing livelihood kits to jump-start entrepreneurship in the poorest and most calamity-affected parts of the country, Trade Secretary Ramon M. Lopez told reporters Friday.

Export body conservative for next year

THE TRADE DEPARTMENT’S Export Marketing Bureau (EMB) has adopted a 2-4% growth forecast for overseas sales next year of the country’s goods and services, choosing to be conservative as global uncertainties persist.

Eligibility for perks latest wrinkle in water suppliers’ contract saga

THE water companies supplying Metro Manila will need to firm up their concession contract extensions before they are eligible for investment incentives, Trade Secretary and Board of Investments chairman Ramon M. Lopez said.

Overall export growth picks up

TOTAL EXPORT GROWTH accelerated to 5.1% in the third quarter from the preceding three months’ 4.3%, boosted especially by continued strong service export growth, the Department of Trade and Industry (DTI) said in a statement on Friday.

SRA announces start of applications to fill US export quota

THE Sugar Regulatory Administration (SRA) said it is taking applications to fill the US export quota of 142,160 metric tons in raw value or 136,201 metric tons in commercial weight for 2019-2020.

DTI renews partnership deal with microlender CARD

THE Center for Agriculture and Rural Development Inc. (CARD) is committing an additional P100 million pesos to its micro-financing partnership with the Department of Trade and Industry (DTI).

Global Ferronickel buys 40% of Mariveles port operator

GLOBAL Ferronickel Holdings, Inc. (GFNI) said it acquired a 40% stake in Seasia Nectar Port Services, Inc. (SNPSI) in order to improve the miner’s port access, particularly for its new steel plant.

Filinvest-Mitsubishi JV gets PCC go signal

THE Philippine Competition Commission (PCC) green-lit a joint venture (JV) between Mitsubishi Corporation and Filinvest Alabang, Inc. (FAI) to develop upscale mixed-used projects in Alabang, Muntinlupa City.

Safeguard duties for ceramic tile imports rejected

THE Tariff Commission has recommended against imposing safeguard measures on ceramic floor and wall tile imports after the conclusion of its investigation.

Grab slapped with new fine

THE Philippine Competition Commission (PCC) slapped Grab Philippines with new fines amounting to P16.15 million for overpricing and higher driver cancellations.

BSA sees ‘encouraging response’ to software legalization program

GLOBAL software advocacy organization The Software Alliance (styled “BSA”) said it has reached an “encouraging response” at the halfway mark of its software legalization campaign among Philippine companies.

ARTA targets nearly 50-place climb in World Bank ranking

THE Anti-Red Tape Authority (ARTA) said it is hoping for a climb of nearly 50 places for the Philippines in the 2021 World Bank Ease of Doing Business report, to a rank of 47th.

US-China trade deal viewed as positive for export sector

THE INITIAL PHASE of the US-China trade deal will be positive for Philippine exports and capital markets, economists said.

PEZA to develop ecozones for agribusiness, marine products

THE Philippine Economic Zone Authority (PEZA) said it will help develop agro-industrial and marine products-based economic zones through a partnership with the Department of...

Looking for extra storage space for all your stuff? There’s an...

AN app-based storage service is looking to address the growing lack of storage space due to increased vertical living and shrinking offices.

TIEZA approves P4 billion in tourism infrastructure projects

THE Tourism Infrastructure and Enterprise Zone Authority (TIEZA) approved almost P4 billion in tourism infrastructure projects in November, bringing its 2019 total to P5 billion.

Philippines raises possibility of free trade deal with UAE

THE government said it is exploring the possibility of a Free Trade Agreement (FTA) with the United Arab Emirates (UAE).

Electronics exporters conservative for 2020

THE ELECTRONICS INDUSTRY is keeping a modest export growth target for 2020, mirroring the 0-3% aim for 2019 in the face of a possible slowdown in demand for such products.

PHL builds P300-M Dubai Expo pavilion

DUBAI — The Philippines is allocating P300 million to build a pavilion at the Dubai World Expo, which is scheduled to open in 2020.

Nov. auto sales biggest year-to-date

AUTOMOBILE SALES notched another record high in November, the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association (TMA) reported on Wednesday, adding that the latest tally brought the entire industry closer to a 410,000-unit sales projection for the entire year.