EconomyLoop
where regional business news becomes global to everyone

Palladium tops $1,600 as metal sets new highs on supply shortage

Palladium topped $1,600 an ounce for the first time, and there’s little sign of the rally slowing as global supply tightens. The price of the metal—mainly used in autocatalysts in gasoline vehicles—has almost doubled from a recent low in August. Dema... read more

 Business Mirror1 hour ago

     
‘Rice farmers remain poor due to government’s bad policies’

The country’s rice farmers will not become poorer because of the implementation of the rice trade liberalization law, or Republic Act 11203, which converted caps on imports into tariffs, according to the Kapisanan ng Magsasaka, Mangingisda at Manggag... read more

 Business Mirror1 hour ago
DA: Cooperative to buy raw rubber at higher price

The Department of Agriculture (DA) said the Philippine Rubber Farmers Cooperative (PRFC) will start purchasing raw rubber from their members at a price slightly higher than the prevailing market rate. Agriculture Secretary Emmanuel F. Piñol said the ... read more

 Business Mirror1 hour ago
PHL franchising sector seen growing 25 percent this year

The country’s franchising industry is expected to increase a whopping 25 percent to $31 billion this year on the back of increased consumer spending brought about by strong economic growth. “Generally, the Philippine franchise sector is thriving and ... read more

 Business Mirror2 hours ago
PAL refleeting program to support search for new destinations

LEGACY carrier Philippine Airlines (PAL) is in constant search for more aircraft to sustain its plans of flying to more destinations out of Asia, a ranking official said. Ryan T. Uy, the company’s VP for Sales, said his group is now evaluating whethe... read more

 Business Mirror2 hours ago
CPG income grows 72% to P1.1 billion in 2018

CENTURY Properties Group Inc. (CPG) on Tuesday said its net income rose by 72 percent last year to P1.1 billion, from the previous P650 million as it was able to finish several of its projects. The company also increased its revenues by 60 percent to... read more

 Business Mirror2 hours ago
BPI Family Savings eyes double digit growth in loans this year

THE Bank of the Philippine Islands (BPI) Family Savings Bank—the thrift-banking arm of BPI—is looking to book a double-digit growth in its loan portfolio this year, owing largely to their optimistic view on the local economy. At the sidelines of the ... read more

 Business Mirror2 hours ago
MWSS exec: Kaliwa Dam Project aboveboard

AN official of the Metropolitan Waterworks and Sewerage System (MWSS) said the New Centennial Water Source-Kaliwa Dam Project is above board and can be the long-term solution to meet the growing demand for water in Metro Manila and nearby provinces. ... read more

 Business Mirror2 hours ago
5 foreign firms, consortium of local banks eye Hanjin rehab

CLARK FREEPORT—At least five foreign companies are eyeing Hanjin Heavy Industries and Construction Co. Philippines at the Subic Bay Freeport Zone as “white knights” after the Korean shipbuilder declared bankruptcy in January. Wilma Eisma, Subic Bay M... read more

 Business Mirror2 hours ago
DOE gives First Gen go-ahead to construct LNG terminal

FIRST Gen Corp. of the Lopez group on Wednesday said it received from the Department of Energy (DOE) the notice to proceed for its planned FGEN Batangas liquefied natural gas (LNG) terminal. “FGEN LNG Corp. [FGEN LNG], a wholly owned subsidiary of Fi... read more

 Business Mirror2 hours ago
GrabFood widens food-delivery service in renewed bid to boost entrepreneurship

After building a track record as a super app in the transport network business, Grab now aims to boost entrepreneurship through the expansion of its food- delivery service, GrabFood, by forging partnerships with more micro and small food businesses t... read more

 Business Mirror2 hours ago
Meralco expects energy sales in January-February to rise 2 percent

THE Manila Electric Co. (Meralco) is expecting energy sales volume in January and February to grow by more than 2 percent on the back of strong demand. “We are seeing our January and February year-to-date sales growth to be around a little over 2 pe... read more

 Business Mirror2 hours ago
DMCI Homes to launch P104-billion projects this year

DMCI Homes Inc. on Tuesday said it plans to launch 10 real-estate projects worth P104 billion this year, a 271-percent increase from the P28-billion projects it launched in 2018. The company said some of its projects are located outside of Metro Mani... read more

 Business Mirror2 hours ago
e-vehicle group eyes help of battery firms

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 The Standard5 hours ago
DICT seeks accord for telecom towers

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 The Standard5 hours ago
Robinsons Retail booked net profit of P5.1b in 2018

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 The Standard5 hours ago
Century set to spend P10b in 2018 to fund diversification

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 The Standard5 hours ago
Stock market slips; ICTSI gains

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 The Standard5 hours ago
Chelsea bullish on 2019 growth and expansion

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 The Standard5 hours ago
Bangko Sentral to cut bank reserves_DBS

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 The Standard5 hours ago
NLEx agrees to readjust toll from Balintawak to Marilao

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 The Standard5 hours ago
Meralco says power sales likely rose 2.5% in 1st quarter

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 The Standard5 hours ago
First Gen allowed to start LNG hub

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 The Standard5 hours ago
Pasig RTC dismisses injunction filed on Medical City case

THE Regional Trial Court of Pasig City has dismissed an Application for a Writ of Preliminary Injunction filed by Margaret Bengzon, daughter-in-law of former The Medical City (TMC) CEO Dr. Alfredo Bengzon, as a “nuisance and harassment suit.” Bengzo... read more

 Business Mirror5 hours ago
PetroEnergy allocates more for solar project

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 The Standard6 hours ago
Phoenix Petroleum shareholders okay tie-up with CNOOC on planned LNG hub

PHOENIX Petroleum Philippines, Inc shareholders approved the oil firm’s partnership with the China National Offshore Oil Corp. (CNOOC) for the planned LNG (liquefied natural gas) hub. In a disclosure to the stock exchange on Monday, the oil firm said... read more

 Business MirrorYesterday
Ecop survey: More firms eye work-from-home scheme

MORE local firms are eyeing to implement a work-from-home scheme, but are stymied by slow Internet connection and lack of available industry practices, according to a survey by the Employers Confederation of the Philippines (Ecop). The Ecop survey re... read more

 Business MirrorYesterday
ICTSI upgrades Papua New Guinea terminal

THE International Container Terminal Services Inc. (ICTSI) has upgraded its terminal in Lae, Papua New Guinea, ahead of schedule. South Pacific International Container Terminal, a company statement, recently took delivery of three new hybrid rubber-t... read more

 Business MirrorYesterday
Cebu Landmasters, Ascott partner for VisMin hotel expansion

CEBU Landmasters Inc. is collaborating to put up more hotel projects with The Ascott Ltd. in the Visayas and Mindanao. Jose Soberano III, Cebu Landmasters CEO, said the company sees many opportunities for collaboration between the two firms given a p... read more

 Business MirrorYesterday
PNB net income hits P9.6 billion in 2018

THE Philippine National Bank (PNB) was able to grow its net earnings by 17 percent to P9.6 billion in 2018, the bank reported on Monday. PNB’s net profit was 17 percent more than the P8.2-billion net income it made in 2017, owing largely to the bank’... read more

 Business MirrorYesterday
Property sector experiencing robust growth in 2019-Leechiu

THE Philippine property sector is in for another robust period as re-estate values are experiencing gargantuan increases across all sectors in 2019. “We expect transaction values to keep climbing this year not only in the office market but also in th... read more

 Business MirrorYesterday
Japanese firm revives bid to build project challenging Kaliwa Dam

THE Osaka-based Global Utility Development Corp. Ltd. (GUDC) is now reviving its proposal to build the $410-million Kaliwa Intake Weir Project under a 25-year build-operate-transfer (BOT) scheme in light of the severe water crisis affecting millions... read more

 Business MirrorYesterday
Brokers still own 26.44% of PSE

THE Philippine Stock Exchange Inc. (PSE) on Monday said brokers still own 26.44 percent of the exchange as of end February, a number that ballooned from last year and still above the mandatory 20-percent cap of ownership of a particular sector. The P... read more

 Business MirrorYesterday
Lucio Tan Group net income reaches P16.19 billion in 2018

LT Group Inc., the holding company of tycoon Lucio Tan, on Monday said its income grew by 50 percent to P16.19 billion from last year’s P10.83 billion, boosted by its tobacco business and banking unit. Philippine National Bank contributed P5.47 billi... read more

 Business MirrorYesterday
Stock market rallies; Cemex up

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 The StandardYesterday
Budget surplus reaches P44.5b as spending falls

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 The StandardYesterday
BSP likely to cut reserve requirement this week_ING

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 The StandardYesterday
ICTSI beefs up unit in PNG, buys 3 rubber gantries

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 The StandardYesterday
PNB's ‘18 net profit up by 17% to P9.6b

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 The StandardYesterday
LT Group's income jumps 50% to P16.2b

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 The StandardYesterday
Employers open to telecommuting

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 The StandardYesterday
Phoenix shareholders support CNOOC deals

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 The StandardYesterday
Phividec chief seeks Luzon expansion sites

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 The StandardYesterday
Bengzon to appeal Medical City case

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 The StandardYesterday
Bureau of Internal Revenue urges taxpayers to make a clean start with amnesty law

SAYING the Bureau of Internal Revenue’s Amnesty Act of 2017 serves as the Duterte administration’s gift to taxpayers, BIR officials recently encouraged taxpayers to avail themselves of the relief offered by the law. In a tax forum held in Pasig City,... read more

 Business Mirror2 days ago
Natl Tobacco Administration opposes higher excise taxes

The National Tobacco Administration (NTA) is opposing higher excise taxes on tobacco products, which it argued would result in lower production and more farmers being displaced. In a position paper submitted to Sen. Juan Edgardo M. Angara, the NTA m... read more

 Business Mirror2 days ago
Brazil’s sugar giants go nimble, making output harder to predict

Brazil’s sugar mills can make the switch into ethanol easier than ever before, making it harder to predict how much sweetener will come from the world’s biggest producer and exporter. Take the case of São Paulo-based Usina Batatais. Just two years ag... read more

 Business Mirror2 days ago
Mangyan mothers learn farming skills to ease food insecurity in community

The Mangyans, an indigenous group living on the island of Mindoro, are known for their peaceful and welcoming nature. Unfortunately, behind this placid demeanor, Mangyans have struggled to feed their families, secure their livelihood, and claim their... read more

 Business Mirror2 days ago
‘SSG levels playing field for local coffee makers, farmers’

The special safeguard duty (SSG) slapped by Manila on imported coffee products will ensure that Filipino planters will continue to have a ready market for their produce. Nestlé Philippines Inc. Vice President and Head of Corporate Affairs Ernesto S. ... read more

 Business Mirror2 days ago
Fine for tourists carrying pork from ASF-hit countries eyed

The Department of Agriculture (DA) said it is keen on punishing tourists who will bring in pork products from countries affected by African swine fever (ASF) with a fine of not less than P200,000. Agriculture Secretary Emmanuel F. Piñol told the Busi... read more

 Business Mirror2 days ago