Category Archives: Business & Economy

More News

BSP keeps policy rates anew

By Joann Santiago MANILA, Dec. 17 (PNA) — Philippine monetary officials on Thursday maintained the Bangko Sentral ng Pilipinas’ (BSP) key rates after noting that inflation dynamics and risks to…

NEDA cuts PHL additional rice import for 2016 by 25%

By Leslie D. Venzon MANILA, Dec. 17 (PNA) — The government will reduce by roughly one-fourth its planned additional volume of rice imports for the first semester of 2016 meant…

NEDA chief sees 2015 growth at 6% despite typhoons

By Leslie D. Venzon MANILA, Dec. 17 (PNA) — The government is optimistic about achieving its target economic growth of 6.9 percent in the fourth quarter despite the devastation wrought…

Cebu-based developer invests PHP430M to build 709 townhouse units in north Cebu town

CEBU CITY, Dec. 17 (PNA) — Cebu-based developer Primary Homes Inc. (PHI) is investing PHP430 million to build 709 townhouse units in its 5.4-hectare property in Poblacion, Compostela town in…

NEDA Board okays Php 17.9 B worth of new projects

By Joann Santiago MANILA, Dec. 16 (PNA) — The National Economic Development Authority (NEDA) Board on Wednesday approved Php 17.9-billion worth of new projects. Presidential Communications Operations Office (PCOO) Secretary…

PHL stocks bounce back to 6,800 on Wall Street rally

By Leslie D. Venzon MANILA, Dec. 16 (PNA) — Philippine shares bounced back to the 6,800-territory on thin volume Wednesday, buoyed by Wall Street’s rally, despite expectations of higher interest…

Metro Pacific acquiring 51% stake in Bulacan hospital for Php 150 M

By Leslie D. Venzon MANILA, Dec. 16 (PNA) — Metro Pacific Hospital Holdings Inc. (MPHH), the hospital investment arm of infrastructure conglomerate Metro Pacific Investments Corp. (MPIC), is acquiring a…

ICTSI forms shared services unit

By Leslie D. Venzon MANILA, Dec. 16 (PNA) — Listed port giant International Container Terminal Services, Inc. (ICTSI) has formed its premier shared services company (SSC) to deliver business process…

Napocor extends power supply to Burias Island by 4 hours

By Juzel L. Danganan MANILA, Dec 14 (PNA) – State-owned National Power Corp. (Napocor) hiked its power supply to Burias Island by four hours last week. In a statement Monday,…

PSEi rebounds slightly

By Leslie D. Venzon MANILA, Dec. 14 (PNA) — Local share prices resisted weak sentiments across the region to end slightly higher on Monday ahead of a highly-anticipated Federal Reserve…

MB places Rural Bank of Caba (La Union), Inc. under PDIC receivership

MANILA, Dec 14 (PNA) — The Philippine Deposit Insurance Corp.(PDIC) has taken over the management of the Rural Bank of Caba (La Union), Inc. following resolution of the Monetary Board…

DTI, PLDT SME Nation partner for Go Negosyo centers

MANILA, Dec. 14 (PNA) — The Department of Trade and Industry (DTI) has partnered with PLDT SME Nation, the small-and-medium-enterprises (SME) arm of leading telecommunications firm PLDT, to provide connectivity…

PSE eyes 8 to 10 IPOs in 2016; sees PhP200-B capital-raising a good target

By Leslie D. Venson MANILA, Dec. 13 (PNA) — Eight to 10 companies are expected to debut in the local equities stock market in 2016, as they ramp up expansion…

El Niño, typhoons bring down 2015 palay, corn production

By Cielito M. Reganit MANILA, Dec. 13 (PNA) — Palay and corn outputs for the whole of 2015 may be lower than their respective 2014 levels due to the adverse…

PHL property sector seen growing 5-7% in 2016

By Leslie D. Venzon MANILA, Dec. 13 (PNA) — The country’s property market is expected to sustain its five to seven percent growth rate in 2016, with the office segment…