PCC blocks merger deal between URC, Don Pedro-RHI sugar millers
February 14, 2019
The Philippine Competition Commission (PCC) has blocked the merger between the two sugar millers in southern Luzon: Universal Robina Corp. (URC), and Central Azucarera Don Pedro Inc. (CADPI) and Roxas Holdings Inc. (RHI). In a decision prohibiting the merger issued
Gov’t, foreign partners speed up work on P67.9b Marawi rehab, reconstruction
February 14, 2019
Funding from local and foreign sources have enabled the Duterte administration to fast track the extensive planning and preparations required for the P67.99-billion reconstruction and rehabilitation program for Marawi, a year after government troops liberated this southern Philippine city from Islamic State-inspired militants. Of the amount
PSE index ends below 8,000 points
February 13, 2019
The Philippine Stock Exchange (PSE) index closed below 8,000 points on Wednesday. The PSE index finished at 7,920.24 points, down 89.68 points. In the broader market, there were 134 decliners, 75 gainers while 50 shares were unchanged. Volume reached 4.63
Filipino-Chinese biz chamber backs rice tariffication
February 13, 2019
The Federation of Filipino-Chinese Chamber of Commerce and Industry (FFCCCII) has joined other business groups in expressing full support for the proposed law seeking to impose tariffs on rice imports in lieu of quantitative restrictions, which it believes is a
Economic managers looking for ways to improve agriculture sector
February 13, 2019
With the agriculture sector having only grown at a rate of 0.8 percent in 2018, the Duterte administration’s economic managers, including Budget Secretary Benjamin Diokno, are exploring measures to enhance farm productivity. “Had the agriculture sector grown at its potential
PSE index, peso end lower
February 11, 2019
The Philippine share index ended lower while the peso hit below P52 against the US dollar at one point but gave gave nearly all of its gains on Monday. The Philippine Stock Exchange (PSE) index settled at 8,061.,54 points, down
FDI registers $531m net inflows in November, down 45.9% from year-ago figure
February 11, 2019
Foreign direct investments (FDI) recorded net inflows of $531 million in November 2018, down 45.9 percent than the $982 million net inflows posted in November 2017, the Bangko Sentral ng Pilipinas (BSP) said Monday. The decline was due largely to the drop
BIR seeking $7.3-M KOICA grant for e-Invoice system
February 10, 2019
The Bureau of Internal Revenue (BIR) is now in the process of preparing a feasibility study in cooperation with the Korea International Cooperation Agency (KOICA) for the implementation of an electronic invoicing system mandated under the Tax Reform for Acceleration and
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