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Business

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Foreign buying lifts PSEi to 6,500

4:16 pm on 4 June 2020, Thursday

The local stock market is on a 7-day rally, reaching the 6,500 level on Thursday, June 4, with more foreign investors buying stocks. The Philippine Stock Exchange index (PSEi) jumped 4.35% to 6,517, with the broader all shares gaining 3.46% and all other counters in the green. From the 52-week low of 4,039, the PSEi is now up by 61.4%. However, year-to-date returns still stood at -16.6%.




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EU Unemployment rate rises to 6.6% in April

12:40 pm on 4 June 2020, Thursday

ANKARA Unemployment in the EU was 6.6% in April, the bloc's statistical office announced Wednesday. April figure was up from 6.4% in the previous month, while it fell from 6.8% in the same month last year, Eurostat said. The Eurostat underlined that the Covid-19 containment measures applied since March have triggered a sharp increase in the number of claims for unemployment benefits across the EU.




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Uniqlo Philippines to launch online store

6:55 pm on 3 June 2020, Wednesday

The platform will be available through Uniqlo's official Philippine site and its mobile app. The launch of the Uniqlo online store further strengthens our presence in the Philippines, and brings greater convenience to our customers here, Masayoshi Nakamura, chief operating officer of Uniqlo Philippines, said in a statement on Wednesday, June 3.




Business

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Pag-aalaga ng indoor plants nagiging patok na libangan habang lockdown

4:53 pm on 2 June 2020, Tuesday

Malaking tulong sa kay Derick, isang telecommunications professional ang kaniyang mga halaman para makapag-adjust sa pagkakakulong niya sa bahay simula noong nagkaroon ng pandemya sa COVID-19. Sa online seller sa Instagram bumili at saka nagpa-deliver si Adil ng kaniyang mga halaman. Ang ilan, sa White Plains sa Quezon City namili ng mga halaman.




Business

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Philippines to padlock POGOs defying pandemic rules

4:20 pm on 2 June 2020, Tuesday

Authorities will close and padlock mostly Chinese-run POGO if they violate lockdown rules aimed at containing the coronavirus pandemic, the Department of the Interior and Local Government said Thursday. Special teams of law enforcers will check the quarantine compliance of POGOs that regulators last week allowed to partially resume operations, said DILG Secretary Eduardo Año.




Business

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BDO sets aside P22 Billion for bad loans

1:20 pm on 2 June 2020, Tuesday

Sy-led BDO Unibank Inc. is beefing up its war chest versus potential bad loans, allocating a record P22.1 billion in anticipation of the expected economic fallout from the coronavirus pandemic. To safeguard the banks balance sheet, the countrys largest bank decided to allocate another P20 billion in upfront provisions, on top of the P2.1 billion set aside in the first quarter.




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BSP supports proposed laws boosting banking system Diokno

4:53 pm on 1 June 2020, Monday

Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno called on lawmakers consideration to help support the countrys banking system vis--vis the impact of the global pandemic. Diokno said Philippine banks will play a key role in the recovery process thus, Congress shouldnt weaken them. The Philippine banks will play a pivotal role in the post-coronavirus recovery process.




Business

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DTI issues guidelines for dine-in fast food chains, restaurants

2:27 pm on 1 June 2020, Monday

In preparation to reopen dine-in services in fast food chains and restaurants, the Department of Trade and Industry (DTI) has issued new guidelines for these establishments on top of the minimum health protocols earlier released by the department. Fast food and restaurants are also advised to provide food menus per table and taking orders shall be contactless.




Business

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IATF okays opening of barbershops, salons under GCQ

9:06 am on 30 May 2020, Saturday

Barbershops and salons may resume their operations in areas under general community quarantine (GCQ) starting June 7, Trade Secretary Ramon Lopez said Saturday. Inter-Agency Task Force for the Management of Emerging Infectious Diseases (IATF-EID) approved the opening of barbershops and salons in an earlier phase considering their preparations to put in place minimum health protocols and bring back more jobs, He said.




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Diokno vows gradual easing of Covid-19 measures

12:50 pm on 29 May 2020, Friday

The easing of measures targeted to address the impact of the coronavirus disease 2019 (Covid-19) will be done in a gradual, prudent, and informed manner, BSP Governor Benjamin Diokno said on Thursday. Diokno said a combination of monetary and fiscal measures were put in place to address the challenges posed by the epidemic.




Business

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Investment management firm sees 2.5% contraction for PH economy

10:13 pm on 28 May 2020, Thursday

Sun Life Asset Management Company Inc. forecasts as much as 2.5-percent contraction for the Philippine economy this 2020 but a recovery should be underway amid the economic impact of the global pandemic. SLAMCI chief investment officer Michael Gerard Enriquez said they forecast the domestic economy to post a -2 percent as best output this year, a turn-around from the 2.8-percent expansion.




Business

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CREATE bill to attract more investments, save and create jobs

10:02 pm on 26 May 2020, Tuesday

The proposed Corporate Recovery and Tax Incentives for Enterprises Act will not put to waste incentives being extended to businesses unlike in the past, thus a win-win situation for both the businesses and the government. This was stressed by Finance Secretary Carlos Dominguez III in a virtual briefing, adding only the industries that authorities consider will have greater impact on the economy will be prioritized.




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