30 C
Makati City
Thursday, May 25, 2017
By VG Cabuag & Bianca Cuaresma   The local currency was back on its feet on Thursday, only a day after concerns on the hostilities seen in Mindanao, indicating market confidence over the country’s overall economic prospects. On Thursday the peso reverted back to hit 49.83 to a dollar, with $551.5 billion...
The government expects foreign direct investments (FDI) to jump to as high as $11 billion this year on the back of robust interest of Chinese investors in the Philippines brought about by improving Manila-Beijing ties. Board of Investments (BOI) Managing Head and Trade Undersecretary Ceferino S. Rodolfo, in a business-matching...
While economic activity in Mindanao will surely be affected, experts believe that the decisive action of President Duterte to end terrorist activities in Mindanao through the declaration of martial law will yield positive results in the long run. In an e-mail to the BusinessMirror, Mindanao Development Authority (MinDa) Deputy Executive...
One of the most prominent tycoons in the Philippines is increasingly optimistic that President Duterte can strike a deal with China to share oil and gas deposits in a disputed part of the South China Sea. “At some point, a commercial deal will be made that will enable us to...
The Employers Confederation of the Philippines (Ecop) is thumbing down the labor sector’s proposal for a P184 wage hike for Metro Manila, saying this will dissuade potential investors. Ecop President Donald Dee said the Associated Labor Unions-Trade Union Congress of the Philippines’s (ALU-TUCP)  petition for an across-the-board wage hike will only...
Lawmakers should focus on converting the quantitative restriction (QR) on rice into a specific tariff rate to speed up the amendment of a law that provided for its implementation, according to an official of the Department of Agriculture (DA). Agriculture Undersecretary for Policy and Planning Segfredo R. Serrano said moves...
The Federation of Philippine Industries (FPI) on Wednesday cautioned the government against imposing an excise tax on sugar sweetened beverages (SSBs) that is too high, as this would cut the sales of beverage manufacturers and affect local farmers. “My objection is that if the tax is too high, then it...
Security forces in the southern Philippines are battling Muslim militants who have laid siege to a city in the volatile Mindanao region. The upheaval began after troops raided a hideout in search of a man at the heart of the crisis—Isnilon Hapilon, one of Asia’s top militant suspects. Here...
Strike while the iron is hot. No stranger to this dictum, the labor sector—after getting President Duterte’s commitment to end contractualization, or endo—will now petition for a P184 across-the-board wage increase for workers in Metro Manila, or more than a third of what they are currently receiving. The Associated Labor...
It seems the much-awaited meeting between the “populist of the East” and the “protectionist of the West” will not take place anymore, as President Duterte recently told foreign media he already turned down the invitation of his United States counterpart Donald J. Trump. In an interview with state-funded Russia Today,...
By Ma. Stella F. Arnaldo / Special to the BusinessMirror THE Beijing government’s commitment to send 1 million Chinese tourists to the Philippines will likely be fulfilled with the increase in charter flights between China and the Philippines. In a news statement, the Department of Tourism (DOT) said the state-owned Guangxi...
The Department of Transportation (DOTr) on Tuesday terminated the procurement of the P108.2-billion Regional Airports Development Program, leaving the Public Private Partnership (PPP) Program badly bruised. According to the PPP Center, the transportation department has decided to transfer the deals for the development of five regional airports in the country...
Export receipts logged by firms operating in Philippine Economic Zone Authority (Peza)—accredited sites grew by almost 19.5 percent in the first quarter of the year, boosted by the upswing in global demand. According to data from the investment-promotion agency, the estimated exports hauled in from January to March this year...
Broadband connectivity in the Philippines continued to be a laggard among Asia-Pacific counterparts, but it seems that green shoots of recovery are starting to bud, as the government moves to make faster Internet speeds a national priority. This is according to the latest State of the Internet Report of Akamai Technologies....
Part Two OWING to its tropical climate, the Philippines is an ideal breeding ground for the lovebirds. Currently, the trade in lovebirds is seeing an upswing, despite the havoc that bird flu has subjected Asia. Some traders recommend good diet can address such concerns. The general diet of African lovebirds consists of...
By Greg Navarro | Special to the Businessmirror Part One A new book came out recently that purports to tell the history of an academic institution known for producing so many of our current global business leaders. In tracing that history, the author has courted controversy for suggesting that this giant...
President Duterte has shunned protectionism in favor of trade-policy continuity after he issued three consecutive executive orders (EO) mandating concessionary tariff rates for certain products. Duterte issued EO 23, extending for another three years the reduced rates of duty on agricultural goods covered by the Philippines’s tariff commitments to the...
Sen. Cynthia A. Villar, chairman of the Senate Committee on Environment and Natural Resources, said the Duterte administration should legalize small-scale mining in the Philippines. Interviewed before her keynote speech during the First National Biodiversity Congress at the Crown Plaza Hotel in Ortigas, Pasig City, Villar said small-scale miners are “mere...
Poultry growers belonging to the United Broiler Raisers Association (Ubra) said the government must revert back the tariff on mechanically deboned meat (MDM) to 40 percent once the quantitative restriction (QR) on rice expires. Ubra President Elias Jose M. Inciong also criticized the government for supposedly failing to conduct consultations...
Part One WHILE possible shortage on chicken- meat production first comes to mind whenever an outbreak of avian influenza is detected, the effect is also felt by a little known but equally lucrative industry—breeding of African lovebirds. Owing to its tropical climate, the Philippines is an ideal breeding ground for the...
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