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Daily Archives: August 6, 2017

PCC eyes cement firms in anti-trust investigation

Johannes Benjamin Bernabe. (Photo: PCC)

By Luis Leoncio  The Philippine Competition Commission (PCC) is investigating anti-competitive practices in the cement industry, PCC Commissioner Johannes Benjamin Bernabe said in a forum last week. 

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BSP eyes relaxing forex rules anew

One of the buildings in the Bangko Sentral ng Pilipinas complex on Roxas Boulevard in Pasay City. (Photo: Alvin I. Dacanay)

By Riza Lozada  The Bangko Sentral ng Pilipinas (BSP) vows to further relax foreign exchange trading rules to help address rising financing requirements of the local economy. BSP Governor Nestor Espenilla Jr. said bank lending continues to be robust but noted financial institutions cannot sufficiently fund increasing needs, thus, the need to also support the local currency debt market. 

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DA to shift policy focus to agribusiness

Agriculture Undersecretary Evelyn Laviña explains a shift in policies at the Department of Agriculture (DA) during the the third general assembly of the Philippine Partnership for Sustainable Agriculture.

by Gia Catimbang and Hananeel Bordey  The Department of Agriculture (DA) plans to shift focus on the agriculture sector to agribusiness to adapt to a business world that is fast advancing due to technology, Agriculture Undersecretary Evelyn Laviña said. 

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No free tuition until 2018 despite law, says Diokno

Sec. Benjamin Diokno

President Duterte has signed the bill that would provide free tuition in state universities and colleges (SUCs) into law last Friday but the government would not offer free tertiary education until next year. 

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Asean integration focus on poverty woes urged

Gilberto Llanto. (PIDS)

Not only economic growth should be the focus of the integration of the Association of Southeast Asian Nations (Asean) members but also poverty and income inequality, Philippine Institute for Development Studies (PIDS) President Gilberto Llanto said. 

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South Korea realty tycoon targets hole-in-one via Clark project

Donggwang Clark Corp. Chairman Lee Shin-Kun

It all started with a leisure trip for gold in Manila for South Korean real-estate magnate Lee Shin-Kun, and now, he owns Donggwang Clark Corp. (DCC) which is considered one of South Korea’s largest property developers. The company is about half into the biggest foreign property project in the country, if not Southeast Asia, called Clark Sunvalley Resorts and Country Club, …

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Philippines, Czech Republic ink economic cooperation deal

Trade Secretary Ramon Lopez (left) and Czech Ambassador to the Philippines Jaroslav Olša Jr. pose with their signed
economic cooperation agreement at the Board of Investments (BOI) main office in Makati City on July 31, 2017.

The Philippines and the Czech Republic signed last week a new economic cooperation agreement that is expected to further enhance relations between the two countries. 

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Bourse sales up 18% to P662M in 1st half

The Philippine Stock Exchange in Makati City. (TMM file photo)

By Riza Lozada The stock market’s operating revenues for the first six months of the year rose by 18.1 percent to P662.53 million from P560.81 million a year ago, mainly due to double digit gains in listing- and trading-related fees, the Philippine Stock Exchange Inc. (PSE) said.

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Pag-IBIG, DBP tie up for housing loan pays

Acmad Rizaldy Moti and Cecilia Borromeo pose for photos after signing the memorandum of agreement (MOA) in the presence of Pag-IBIG and DBP officers.

State housing loan agency Pag-IBIG Fund and the government-run Development Bank of the Philippines (DBP) recently inked a partnership to use DBP’s electronic banking facility, internet payment gateway, and prepaid card for easier and faster payment and collection processes for the Fund. 

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PAL deploys Bombardiers to strengthen local routes

Philippine Airlines (PAL) started flying its brand-new Q400 next-generation turboprop aircraft on the Cebu-Caticlan-Clark route. After a simple send-off ceremony at Mactan-Cebu International Airport marking the Q400 first commercial flight, Bombardier director for sales (Asia-Pacific) Aman Kocher presented a model Q400 aircraft to PALexpress President Bonifacio Sam.

The first commercial flight of the world’s first dual-class turboprop airplane took off last August 1 from Mactan International Airport bound for Caticlan and Clark, marking Philippine Airlines’ (PAL) serious reassertion of its domestic market dominance. 

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