Credit to Author: Tyrone Jasper C. Piad| Date: Wed, 26 Feb 2020 17:35:50 +0000
THE stock market tumbled out of the 7,000 territory on Wednesday following a massive global sell-off over the continued impact of the coronavirus disease 2019 (Covid-19) outbreak, with an analyst predicting a recession. The benchmark Philippine Stock Exchange index (PSEi) plunged by 3.86 percent or 277.60 points to finish at 6,909.84, while the wider All […]
Read moreCredit to Author: Tyrone Jasper C. Piad| Date: Wed, 26 Feb 2020 17:32:13 +0000
THE global economic slowdown resulting from the prolonged trade war between the United States and China and the coronavirus disease 2019 (Covid-19) outbreak pushed Honda Cars Philippines Inc. (HCPI) to close its manufacturing plant in Sta. Rosa City, Laguna province, Trade Secretary Ramon Lopez said on Wednesday. In a statement, the chief of the Department […]
Read moreCredit to Author: Mayvelin U. Caraballo, TMT| Date: Wed, 26 Feb 2020 17:28:40 +0000
THE Philippine peso dropped to its weakest in almost two months, returning to P51 against the US dollar on Wednesday. The local currency, which opened at P51.08 versus the greenback, lost 7 centavos to close at P51.03. It was the peso’s softest finish since the P51.09:$1 closing on January 3. Union Bank of the Philippines […]
Read moreCredit to Author: Mayvelin U. Caraballo, TMT| Date: Wed, 26 Feb 2020 17:26:37 +0000
PHILIPPINE domestic trade, both in volume and value, decelerated in the fourth quarter of 2019, the Philippine Statistics Authority (PSA) said on Wednesday. Data from the statistics agency showed that the total quantity of domestic trade from October to December reached 3.95 million tons, down 45.4 percent from 7.24 million tons in the same quarter […]
Read moreCredit to Author: Lisbet K. Esmael| Date: Wed, 26 Feb 2020 17:14:18 +0000
The implementation of the common tower policy has been delayed possibly this coming March, as it continues to face hurdles, the Department of Information and Communications Technology (DICT) said on Wednesday. Information and Communications Technology Secretary Gregorio Honasan 2nd said the policy might be released “in the next few weeks”— another delay from the planned […]
Read moreCredit to Author: Jordeene B. Lagare| Date: Wed, 26 Feb 2020 17:11:41 +0000
RAW water allocation from Angat Dam, Metro Manila’s primary source of water, will be maintained at 42 cubic meters per second (cms) in March amid water supply interruptions, according to the National Water Resources Board (NWRB). In a text message, NWRB Executive Director Sevillo David Jr. said water allocation from Angat Dam for next month […]
Read moreCredit to Author: Mayvelin U. Caraballo, TMT| Date: Tue, 25 Feb 2020 16:53:10 +0000
EXCISE tax payments of cigarette manufacturers rose last year, accounting for more than half of the government’s total sin tax collections, data from the Department of Finance (DoF) showed. The Bureau of Internal Revenue (BIR) collected P147.5 billion in ‘sin’ taxes from cigarette products in 2019, up 8 percent from the P136.5 billion collected a […]
Read moreCredit to Author: Lisbet K. Esmael| Date: Tue, 25 Feb 2020 17:04:04 +0000
PHILIPPINE economic growth is forecast to pick up to 6.4 percent this year on the back of increased government spending, according to the Asean+3 Macroeconomic Research Office (AMRO). In a statement on Tuesday, the regional macroeconomic surveillance organization said the country’s economy would rebound despite gross domestic product registering an eight-year-low of 5.9 percent in […]
Read moreCredit to Author: Mayvelin U. Caraballo, TMT| Date: Tue, 25 Feb 2020 16:57:32 +0000
QUALIFIED lenders that sustained losses due to their exposure to borrowers and industries severely affected by the African swine fever (ASF) and the coronavirus disease 2019 (Covid-19) may get relief from the Bangko Sentral ng Pilipinas (BSP). In a statement on Tuesday, BSP Governor Benjamin Diokno said granting regulatory relief to these banks and quasibanks […]
Read moreCredit to Author: Mayvelin U. Caraballo, TMT| Date: Tue, 25 Feb 2020 16:53:10 +0000
EXCISE tax payments of cigarette manufacturers rose last year, accounting for more than half of the government’s total sin tax collections, data from the Department of Finance (DoF) showed. The Bureau of Internal Revenue (BIR) collected P147.5 billion in ‘sin’ taxes from cigarette products in 2019, up 8 percent from the P136.5 billion collected a […]
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