Philippines



BSP disqualifies LBC Express directors from serving in financial institutions

The Bangko Sentral ng Pilipinas has temporarily disqualified LBC Express Inc.’s director Fernando Araneta from serving as officer in any financial institution supervised by the central bank, the company said Thursday.  
GMA News Online / Money / Economy

BSP disqualifies LBC Express directors from serving in financial institutions

The Bangko Sentral ng Pilipinas has temporarily disqualified LBC Express Inc.’s director Fernando Araneta from serving as officer in any financial institution supervised by the central bank, the company said Thursday.  

New platform allows for 'faster' peso-yuan trade --BSP exec

Converting peso to yuan is now faster and more efficient following the memorandum of understanding (MOU) signed by the Bangko Sentral ng Pilipinas and over a dozen banks.
GMA News Online / Money / Economy

New platform allows for 'faster' peso-yuan trade --BSP exec

Converting peso to yuan is now faster and more efficient following the memorandum of understanding (MOU) signed by the Bangko Sentral ng Pilipinas and over a dozen banks.

Asian shares tick up but growth worries keep investors on edge

SYDNEY -- Asian shares stepped ahead cautiously on Thursday while oil rebounded from a steep sell-off, though rising US interest rates and escalating trade tensions kept financial markets on edge amid signs of slackening global growth.
GMA News Online / Money / Economy

Asian shares tick up but growth worries keep investors on edge

SYDNEY -- Asian shares stepped ahead cautiously on Thursday while oil rebounded from a steep sell-off, though rising US interest rates and escalating trade tensions kept financial markets on edge amid signs of slackening global growth.

ECOP: Most private sector employers can’t afford to be at par with gov’t in terms of workers’ benefits

Most of the employers in the private sector have no capacity to give benefits to its employees similar to what the government can give to state workers, the Employers Confederation of the Philippines (ECOP) said.  
GMA News Online / Money / Economy

ECOP: Most private sector employers can’t afford to be at par with gov’t in terms of workers’ benefits

Most of the employers in the private sector have no capacity to give benefits to its employees similar to what the government can give to state workers, the Employers Confederation of the Philippines (ECOP) said.  

Oil rebounds after prior session's slide; glut worries persist

Oil prices rose about $1 a barrel a barrel on Wednesday, bouncing from the lowest levels in months, after US government data showed strong demand for refined fuel, but concerns remained over rising global crude supply.
GMA News Online / Money / Economy

Oil rebounds after prior session's slide; glut worries persist

Oil prices rose about $1 a barrel a barrel on Wednesday, bouncing from the lowest levels in months, after US government data showed strong demand for refined fuel, but concerns remained over rising global crude supply.

Wall Street climbs as tech, internet stocks bounce back

US stocks rose on Wednesday after a brutal two-day selloff, led by a rebound in beaten-down internet, technology and energy shares ahead of the Thanksgiving holiday.
GMA News Online / Money / Economy

Wall Street climbs as tech, internet stocks bounce back

US stocks rose on Wednesday after a brutal two-day selloff, led by a rebound in beaten-down internet, technology and energy shares ahead of the Thanksgiving holiday.

Wall Street set to open higher as tech shares recover

Wall Street was set to claw back some of the losses from a brutal two-day selloff on Wednesday as Apple Inc and other major technology stocks regained a foothold and oil prices steadied.
GMA News Online / Money / Economy

Wall Street set to open higher as tech shares recover

Wall Street was set to claw back some of the losses from a brutal two-day selloff on Wednesday as Apple Inc and other major technology stocks regained a foothold and oil prices steadied.

PHL, Japan exchange notes on ¥206B in loans for 2 infra projects

The governments of the Philippines and Japan on Wednesday signed and exchanged two documents on the Japanese government's commitments to provide around ¥206 billion (P95.2 billion) in loans for two infrastructure projects of the Duterte administration.
GMA News Online / Money / Economy

PHL, Japan exchange notes on ¥206B in loans for 2 infra projects

The governments of the Philippines and Japan on Wednesday signed and exchanged two documents on the Japanese government's commitments to provide around ¥206 billion (P95.2 billion) in loans for two infrastructure projects of the Duterte administration.

Ghosn custody extended as crisis deepens at Nissan

The titan of the car industry is being held in a detention center in northern Tokyo in conditions far removed from his flashy lifestyle. “In principle, he will be all alone in a cell,” lawyer Ayano Kanezuka told AFP.  
GMA News Online / Money / Economy

Ghosn custody extended as crisis deepens at Nissan

The titan of the car industry is being held in a detention center in northern Tokyo in conditions far removed from his flashy lifestyle. “In principle, he will be all alone in a cell,” lawyer Ayano Kanezuka told AFP.  

Duterte issues EO creating panel vs. money laundering, terror finance

Duterte's Executive Order No. 68 also sought to harmonize the efforts of government agencies and private stakeholders against the said crimes and ensure they were consistent with the National Anti-Money Laundering and Countering the Financing of Terrorism St
GMA News Online / Money / Economy

Duterte issues EO creating panel vs. money laundering, terror finance

Duterte's Executive Order No. 68 also sought to harmonize the efforts of government agencies and private stakeholders against the said crimes and ensure they were consistent with the National Anti-Money Laundering and Countering the Financing of Terrorism Strategy (NACS).  

PSEi retreats on profit-taking, Wall Street sell-off

Philippine shares snapped a five-day winning streak on Wednesday as the sell-off overnight on Wall Street triggered profit-taking from gains in previous sessions.  
GMA News Online / Money / Economy

PSEi retreats on profit-taking, Wall Street sell-off

Philippine shares snapped a five-day winning streak on Wednesday as the sell-off overnight on Wall Street triggered profit-taking from gains in previous sessions.  

House OKs bill mandating bigger license plates for motorcycles

The House of Representatives on Tuesday approved on third and final reading the bill which mandates the use of bigger license plates and identification marks on motorcycles to prevent the use of the vehicles in committing crimes.
GMA News Online / Money / Economy

House OKs bill mandating bigger license plates for motorcycles

The House of Representatives on Tuesday approved on third and final reading the bill which mandates the use of bigger license plates and identification marks on motorcycles to prevent the use of the vehicles in committing crimes.

Futures drop as Apple-led tech slide deepens

US stock futures dropped by up to 1 percent on Tuesday as a technology rout in the previous session sparked by concerns over iPhone sales sapped investors' appetite for high-growth companies.
GMA News Online / Money / Economy

Futures drop as Apple-led tech slide deepens

US stock futures dropped by up to 1 percent on Tuesday as a technology rout in the previous session sparked by concerns over iPhone sales sapped investors' appetite for high-growth companies.

MPIC, Dole Philippines sign P1-B biogas facilities deal

Metro Pacific Investments Corp. has signed a deal with Dole Philippines Inc. to build waste-to-energy facilities at the manufacturing sites of the fruit cannery.  
GMA News Online / Money / Economy

MPIC, Dole Philippines sign P1-B biogas facilities deal

Metro Pacific Investments Corp. has signed a deal with Dole Philippines Inc. to build waste-to-energy facilities at the manufacturing sites of the fruit cannery.  

House approves tax amnesty bill on final reading

The House of Representatives on Tuesday approved on third and final reading the tax amnesty bill, the second part of the first package of the government's tax reform program.
GMA News Online / Money / Economy

House approves tax amnesty bill on final reading

The House of Representatives on Tuesday approved on third and final reading the tax amnesty bill, the second part of the first package of the government's tax reform program.

House OKs P3.757-T 2019 national budget on final reading

The House of Representatives on Tuesday approved on third and final reading the bill providing for the proposed P3.757-trillion national budget for 2019.  
GMA News Online / Money / Economy

House OKs P3.757-T 2019 national budget on final reading

The House of Representatives on Tuesday approved on third and final reading the bill providing for the proposed P3.757-trillion national budget for 2019.  

PSEi firms up on Xi Jinping’s visit, foreign buying

Share prices on the Philippine Stock Exchange rallied to lift the PSEi back in the 7,300 area as the state visit of Chinese President Xi Jinping boosted investor sentiment despite the sell-off overnight on Wall Street.
GMA News Online / Money / Economy

PSEi firms up on Xi Jinping’s visit, foreign buying

Share prices on the Philippine Stock Exchange rallied to lift the PSEi back in the 7,300 area as the state visit of Chinese President Xi Jinping boosted investor sentiment despite the sell-off overnight on Wall Street.

SM Prime to build world’s biggest IKEA store

Property developer SM Prime Holdings Inc. confirmed on Tuesday that it has been tapped to build the Philippine store of Swedish furniture brand IKEA that will be  the biggest in the world.
GMA News Online / Money / Economy

SM Prime to build world’s biggest IKEA store

Property developer SM Prime Holdings Inc. confirmed on Tuesday that it has been tapped to build the Philippine store of Swedish furniture brand IKEA that will be  the biggest in the world.

Senate invites Mislatel execs to hearing on 3rd telco

The Senate Committee on Public Services is set to continue next week its hearing on the government's search for the third telco, where officials from the winning bidder -- Mislatel consortium -- will be invited, Senator Grace Poe said Tuesday.
GMA News Online / Money / Economy

Senate invites Mislatel execs to hearing on 3rd telco

The Senate Committee on Public Services is set to continue next week its hearing on the government's search for the third telco, where officials from the winning bidder -- Mislatel consortium -- will be invited, Senator Grace Poe said Tuesday.

Palace: It is ‘premature’ to make public PHL-China joint exploration deal

Malacañang has deemed it “premature” for the Duterte administration to release the documents on the proposed joint oil and gas exploration in the disputed South China Sea before the agreement has been signed.  
GMA News Online / Money / Economy

Palace: It is ‘premature’ to make public PHL-China joint exploration deal

Malacañang has deemed it “premature” for the Duterte administration to release the documents on the proposed joint oil and gas exploration in the disputed South China Sea before the agreement has been signed.  

PHL need not depend solely on Chinese loans to fund ‘Build, Build, Build’

The Duterte administration need not depend solely on Chinese loans to finance its ambitious “Build, Build, Build” program and risk the prospect of failure, an economics professor said Tuesday.  
GMA News Online / Money / Economy

PHL need not depend solely on Chinese loans to fund ‘Build, Build, Build’

The Duterte administration need not depend solely on Chinese loans to finance its ambitious “Build, Build, Build” program and risk the prospect of failure, an economics professor said Tuesday.  

US sanctions South African for helping North Korea acquire oil

The United States on Monday sanctioned a South African man for helping North Korea acquire oil, Treasury's Office of Foreign Assets Control said.
GMA News Online / Money / Economy

US sanctions South African for helping North Korea acquire oil

The United States on Monday sanctioned a South African man for helping North Korea acquire oil, Treasury's Office of Foreign Assets Control said.

Wall Street set to open lower on Apple concerns, trade uncertainties

Wall Street was set to open lower on Monday as shares of Apple and its suppliers were hit by ongoing concerns of slowing demand for iPhones, while conflicting signals of a potential truce in the China-US trade dispute added to market jitters.
GMA News Online / Money / Economy

Wall Street set to open lower on Apple concerns, trade uncertainties

Wall Street was set to open lower on Monday as shares of Apple and its suppliers were hit by ongoing concerns of slowing demand for iPhones, while conflicting signals of a potential truce in the China-US trade dispute added to market jitters.

Nissan's Ghosn arrested in Japan for alleged financial misconduct

Nissan Motor Co Chairman Carlos Ghosn was arrested on Monday for alleged financial misconduct and will be fired from the board this week, a dramatic fall for a charismatic leader hailed for rescuing the Japanese carmaker from close to bankruptcy.
GMA News Online / Money / Economy

Nissan's Ghosn arrested in Japan for alleged financial misconduct

Nissan Motor Co Chairman Carlos Ghosn was arrested on Monday for alleged financial misconduct and will be fired from the board this week, a dramatic fall for a charismatic leader hailed for rescuing the Japanese carmaker from close to bankruptcy.

China will propose WTO reforms, but don't try to trap us - Beijing's WTO envoy

China plans to propose reforms of the World Trade Organization, China's ambassador to the WTO Zhang Xiangchen said, while warning fellow WTO members against seeing reform as a chance to put China in a straitjacket.
GMA News Online / Money / Economy

China will propose WTO reforms, but don't try to trap us - Beijing's WTO envoy

China plans to propose reforms of the World Trade Organization, China's ambassador to the WTO Zhang Xiangchen said, while warning fellow WTO members against seeing reform as a chance to put China in a straitjacket.

PSEi closes 2.64% higher ahead of Chinese President’s state visit

Share prices on the Philippine Stock Exchange continued surged by 2.64 percent Monday, ahead of the state visit of Chinese President Xi Jinping
GMA News Online / Money / Economy

PSEi closes 2.64% higher ahead of Chinese President’s state visit

Share prices on the Philippine Stock Exchange continued surged by 2.64 percent Monday, ahead of the state visit of Chinese President Xi Jinping

NTC declares Mislatel as new major player

The National Telecommunications Commission on Monday officially declared Mislatel Consortium as the country’s new major player in the telecom industry, 12 days after the bid documents were opened.
GMA News Online / Money / Economy

NTC declares Mislatel as new major player

The National Telecommunications Commission on Monday officially declared Mislatel Consortium as the country’s new major player in the telecom industry, 12 days after the bid documents were opened.

BSP rate hike continues to boost peso

The Philippine peso appreciated against the US dollar on Monday, as the market continued to savor the rate hike imposed by the Bangko Sentral ng Pilipinas last week.
GMA News Online / Money / Economy

BSP rate hike continues to boost peso

The Philippine peso appreciated against the US dollar on Monday, as the market continued to savor the rate hike imposed by the Bangko Sentral ng Pilipinas last week.

House to approve budget bill on final reading on Nov. 28

The House of Representatives is expected to approve the proposed P3.757-trillion national budget on third and final reading on November 28.
GMA News Online / Money / Economy

House to approve budget bill on final reading on Nov. 28

The House of Representatives is expected to approve the proposed P3.757-trillion national budget on third and final reading on November 28.

BOC explains what causes port congestion

Port congestion is a result of several factors that may be summed up as a product of the country’s economic condition and moving shipments that involves pre-Customs, Customs, and post-Customs processes, the Bureau of Customs said Monday.  
GMA News Online / Money / Economy

BOC explains what causes port congestion

Port congestion is a result of several factors that may be summed up as a product of the country’s economic condition and moving shipments that involves pre-Customs, Customs, and post-Customs processes, the Bureau of Customs said Monday.  

Diokno on Chinese loans: ‘Walang lupa na ipinangako’

The disputed islands in the South China Sea would not serve as collateral for Philippine loans owed to China, Budget Secretary Benjamin Diokno said Monday.  
GMA News Online / Money / Economy

Diokno on Chinese loans: ‘Walang lupa na ipinangako’

The disputed islands in the South China Sea would not serve as collateral for Philippine loans owed to China, Budget Secretary Benjamin Diokno said Monday.  

PCCI honorary chair: Truck holiday no huge effect on economy

The honorary chairman of the Philippine Chamber of Commerce and Industry (PCCI) on Monday said that the five-day truck holiday will not have a huge impact on the economy as long as big truck groups will not join the protest action.  
GMA News Online / Money / Economy

PCCI honorary chair: Truck holiday no huge effect on economy

The honorary chairman of the Philippine Chamber of Commerce and Industry (PCCI) on Monday said that the five-day truck holiday will not have a huge impact on the economy as long as big truck groups will not join the protest action.  

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