Latest News



BSP on watch vs wild forex swings

By Kathleen A. Martin (The Philippine Star) | Updated June 10, 2015 - 12:00am


MANILA, Philippines - The Bangko Sentral ng Pilipinas said it would watch out for and smoothen excessive swings in the foreign exchange rate as investors anticipate the hike in US interest rates and worry about the Greek debt crisis.


Read more: http://www.philstar.com/business/2015/06/10/1464045/bsp-watch-vs-wild-forex-swings


Local vehicle sales zoom 18% in May

By Louella D. Desiderio (The Philippine Star) | Updated June 10, 2015 - 12:00am


MANILA, Philippines - Sales of the country’s local vehicle assemblers grew by 18 percent in May from a year ago driven by continued demand for passenger cars (PC) and commercial vehicles (CV). 


Read more: http://www.philstar.com/business/2015/06/10/1464048/local-vehicle-sales-zoom-18-may


Franchise Asia Phl kicks off today

 (The Philippine Star) | Updated June 10, 2015 - 12:00am


MANILA, Philippines - The Philippines will take center stage in the global franchising industry this week when Franchise Asia Philippines 2015 opens its gates to about 500 home grown and foreign participants and over 50,000 attendees, including business experts, and trade buyers, making it the biggest, grandest and most anticipated franchising event in the world this year.


Read more: http://www.philstar.com/business/2015/06/10/1464058/franchise-asia-phl-kicks-today


ERC sets new capacity threshold for gencos

By Iris C. Gonzales (The Philippine Star) | Updated June 10, 2015 - 12:00am


MANILA, Philippines - The Energy Regulatory Commission (ERC) has approved new capacity limits for generation companies so that no firm can own, operate or control more than 30 percent of the installed generation capacity of a grid or 25 percent in the case of the national installed generating capacity.


Read more: http://www.philstar.com/business/2015/06/10/1464057/erc-sets-new-capacity-threshold-gencos


DMCI starts LRT-2 extension

By Lawrence Agcaoili (The Philippine Star) | Updated June 10, 2015 - 12:00am


MANILA, Philippines - Construction giant DM Consunji Inc. (DMCI) is studying the feasibility of several other railway projects being undertaken by the government as it starts construction of the P2.27-billion elevated viaduct for the Light Rail Transit Line 2 (LRT-2) all the way to Antipolo City.


Read more: http://www.philstar.com/business/2015/06/10/1464055/dmci-starts-lrt-2-extension

BSP to let peso weaken in value vs US dollar

By: Paolo G. Montecillo


Philippine Daily Inquirer

12:24 AM June 10th, 2015


Monetary authorities will allow markets to chip away at the peso’s value amid heightened risk aversion among investors, who remain on edge due to uncertainty over global financing conditions.

Read more: http://business.inquirer.net/193333/bsp-to-let-peso-weaken-in-value-vs-us-dollar#ixzz3ccmQgo7b

3 firms vie for P200-B Clark Rail


Philippine Daily Inquirer

12:22 AM June 10th, 2015


Three companies involved in railway development have expressed their interest in the construction of the P200-billion Clark Rail Transit System, which will run from Manila to Clark Green City, the Bases Conversion and Development Authority (BCDA) said Tuesday.

Read more: http://business.inquirer.net/193331/3-firms-vie-for-p200-b-clark-rail#ixzz3ccmX15cx

Posted on June 09, 2015 10:37:00 PM

By Daryll Edisonn D. SaclagSenior Reporter

New Customs chief gives up on target

NEWLY APPOINTED Customs Commissioner Alberto D. Lina yesterday conceded that his bureau will miss its revenue target anew this year, blaming cheap oil imports for poor collections.

Read more: http://www.bworldonline.com/content.php?section=TopStory&title=new-customs-chief-gives-up-on-target&id=109430

Posted on June 09, 2015 10:04:00 PM

Manila Water to bid for P24-billion PPP contract

EAST ZONE concessionaire Manila Water Co., Inc. will participate in a government auction of its first water public-private partnership (PPP) contract, the P24.4-billion Bulacan Bulk Water Supply Project (BBWSP).

Read more: http://www.bworldonline.com/content.php?section=Corporate&title=manila-water-to-bid-for-p24-billion-ppp-contract&id=109415

Posted on June 09, 2015 10:01:00 PM

By Krista Angela M. MontealegreSenior Reporter

San Miguel, K-water sign agreement over Angat hydroelectric power plant

SAN MIGUEL Corp. has sealed an agreement with Korea Water Resources Corp. (K-water) to operate and maintain the 218-megawatt (MW) privatized segment of the Angat hydroelectric power plant in Bulacan, the company’s president said yesterday.

Read more: http://www.bworldonline.com/content.php?section=Corporate&title=san-miguel-k-water-sign-agreement-over-angat-hydroelectric-power-plant&id=109414

Posted on June 09, 2015 10:38:00 PM

By Melissa Luz T. LopezReporter

Mindanao hydro sale ruled out in House EPIRA law revisions

A HOUSE of Representatives panel yesterday approved two key amendments to the law governing the power industry, shielding Mindanao’s hydroelectric power assets from privatization while mandating incentives for projects deemed nationally significant.

Read more: http://www.bworldonline.com/content.php?section=Economy&title=mindanao-hydro-sale-ruled-out-in-house-epira-law-revisions&id=109421


WB bars dubious firms from winning contracts

Bidders need to reveal true owners

June 9, 2015 


Washington (Thomson Reuters Foundation) – The World Bank wants all corporate bidders on bank-funded projects to publicly reveal their true owners as a way of tackling fraud and cronyism in government contracts, a senior official said.


Read more at http://www.mb.com.ph/wb-bars-dubious-firms-from-winning-contracts/#SITb8fGw10tf3YGj.99


E-trikes make a case for environment at APEC meet

June 9, 2015 


Zero-emission electric tricycles shared the limelight at the recently concluded APEC ministerial meetings in Boracay, providing a tangible symbol of the Philippines’ commitment to efforts to reverse the harmful effects of climate change.


Read more at http://www.mb.com.ph/e-trikes-make-a-case-for-environment-at-apec-meet/#XhS1vlgidVLg1OAt.99


May automotive sales up 18%

By Othel V. Campos | Jun. 09, 2015 at 11:20pm 


Automotive sales in May rose 18 percent to 23,139 units from 19,598 units year-on-year, sustaining the gains of the industry, the Chamber of Automotive Manufacturers of the Philippines Inc. and the Truck Manufacturers Association  said Tuesday,


Read more: http://manilastandardtoday.com/2015/06/09/may-automotive-sales-up-18-/

Top CEOs lower their economic outlook, plan less spending and hiring

by Los Angeles Times / MCT - June 9, 2015

WASHINGTON—Chief executives at the largest US corporations lowered their outlook for economic growth and planned less spending and hiring amid reduced expectations for sales during the next six months, according to a new survey.

Read more: http://www.businessmirror.com.ph/top-ceos-lower-their-economic-outlook-plan-less-spending-and-hiring/


BOC collects over P220-million unpaid Customs bonds from GSIS

by Joel R. San Juan - June 9, 2015 


THE Bureau of Customs (BOC) on Tuesday announced having collected more than P229 million representing payment for demandable bonds by the Government Service Insurance System (GSIS) since 1976.


Read more: http://www.businessmirror.com.ph/boc-collects-over-p220-million-unpaid-customs-bonds-from-gsis/


Capital market development as an engine for economic growth

by Jaime E. Ysmael - June 9, 2015 


A country’s economic growth is hinged on an efficient financial sector that facilitates a healthy flow of domestic and foreign capital. Without a developed capital market that progressively promotes and protects investments, a country’s growth potential may be impeded.


Read more: http://www.businessmirror.com.ph/capital-market-development-as-an-engine-for-economic-growth/
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