Business

PLDT to yield frequencies to gov’t

Telecommunications giant PLDT Inc. has agreed to surrender one of its frequencies at no cost to the government for allocation to a potential third major player in the local telecommunications industry. The decision by the telco firm comes after President…

BSP sees inflation around 4%

The Bangko Sentral considers as temporary the elevated domestic inflation rate this 2018, which is expected to “be around the high-end” of the government’s 2-4 percent target range for 2017-2019. In a statement posted on the central bank’s Facebook page…

Global stock rout has scant impact on PH

Worries on inflation and its impact on the interest rates, among others, are causing the sell-off in equities around the globe, including the Philippines. After the end of Monday’s trading, the Dow Jones shed 4.6 percent after posting its record-high…

BIR mulls amnesty for taxpayers with pending cases

The Bureau of Internal Revenue (BIR) is considering including in its planned tax amnesty program those with pending tax evasion cases. During the hearing of the House of Representatives’ Ways and Means Committee Monday, BIR Assistant Commissioner Alfredo Misajon told…

BoI kicks off 2018 with P51-B RE ventures

The Board of Investments (BOI) started the year with investment approvals amounting to P51.3 billion in January, an over six-fold increase from the P8 billion worth of pledges in the same month in 2017. In a statement Monday, Trade Secretary…

BPO to keep office space demand up

The business process outsourcing (BPO) industry is seen to continue driving demand for office space this year, top executive of property consultancy firm Santos Knight Frank said Tuesday. “The Philippine BPO sector will continue to thrive in the coming years,”…

Apple halves iPhone X production

US Corporation Apple will halve production of its new smartphone iPhone X in January-March from 40 to 20 million devices due to low demand, the Nikkei newspaper reported on Tuesday. The company had already notified the suppliers of components. Apple…

PH among top ASEAN M&A targets

M&A intelligence service provider Mergemarket has cited the Philippines as among the top targets for inbound merger and acquisition (M&A) deals in Southeast Asia in 2017. Mergemarket data released Wednesday show that the top three targets for inbound M&A transactions…

Info hubs for local PPP projects set up

The government is setting up regional knowledge corners to support its intensified efforts to implement public private partnerships (PPPs) projects at the local level and boost regional development. “We recognize the essential role that PPPs will play to support the…

Focus on mfg. fuels growth––Pernia

The Philippines should continue focusing on manufacturing to drive economic growth amid the plateauing of the business process outsourcing (BPO) sector’s development, said the country’s chief economist. “We should continue to put emphasis on manufacturing not just of the traditional…

3 firms vie for third telco slot

Three firms have expressed interest in becoming the country’s third major player in the local telecommunications industry. The Philippine Telegraph and Telephone (PT&T), Now Corporation, and Converge ICT are eyeing to form their separate consortia with foreign partners, according to…

Growth prospects remain strong –– ANZ

ANZ Research on Tuesday said the domestic demand in the Philippines remains on a solid footing despite the Gross Domestic Product (GDP) missing market estimates for the last quarter of 2017. ANZ Research noted this after the Philippine Statistics Authority…

DoF eyes sin-tax reform

Officials of the Department of Finance (DoF) are set to submit to Congress by end-January 2018 the proposed Package 2 plus aimed at raising taxes on tobacco, alcohol, mining, coal and casinos. This was announced by Finance Secretary Carlos Dominguez…

GDP growth signals PH on track

The Philippine Chamber of Commerce and Industry (PCCI), the largest business organization in the country, on Tuesday lauded the country’s economic performance and called for initiatives that would propel investments. “This is a confidence builder and sends a strong signal…

Beware of gaming biz clients, banks told

The Bangko Sentral has called on banks to follow stricter measures on the rising number of clients engaged in gambling and or online gaming business. BSP Deputy Governor Chuchi Fonacier, in Memorandum No. M-?2018-002, said banks now have greater exposures…
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