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Companies bullish on recovery

Filipino and Japanese-owned companies are bullish about the recovery of the Philippines from the pandemic-induced recession, according to Security Bank Corp. and Tokyo-based MUFG Bank Ltd......»»

Category: financeSource: philstar philstarJul 20th, 2021

Fed to meet as inflation, virus variants complicate US recovery

As rising prices and the spread of new COVID-19 variants increase risks to the US economy, Federal Reserve officials are expected to maintain their easy money policies intended to help American companies and workers survive the pandemic damage......»»

Category: financeSource:  thestandardRelated News2 hr. 41 min. ago

Oxford Economics among least bullish on Philippine economic growth

London-based Oxford Economics further slashed its growth forecast for the Philippines to 4.5 percent this year, among the lowest projections for the country, due to a weaker-than-expected performance in the first quarter and slim prospects of recovery in the second quarter......»»

Category: financeSource:  philstarRelated NewsJun 10th, 2021

Improved logistics needed to sustain post-COVID-19 recovery

Companies have stressed the need for emergency logistics, including digitalization, to help the Philippines sustain its recovery post COVID-19......»»

Category: financeSource:  philstarRelated NewsJun 8th, 2021

World Bank trims Philippine growth forecast to 4.7%

The World Bank continued to be less bullish on economic recovery for the Philippines as it further downgraded the country’s growth forecast this year due to the resurgence of COVID-19 cases and reimposition of strict lockdowns......»»

Category: financeSource:  philstarRelated NewsJun 8th, 2021

DA forges partnerships for ASF vaccine trials

The Department of Agriculture has partnered with about 10 companies to conduct trials on potential vaccines against African swine fever, as part of efforts toward recovery of the local hog industry.....»»

Category: newsSource:  philstarRelated NewsApr 27th, 2021

DTI invites Japanese wiring harness companies to expand in Phl

Department of Trade and Industry (DTI) Secretary Ramon Lopez discussed with six Japanese foreign direct investors the opportunities to expand their wiring harness operations under the new Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act. The online and sector-specific roundtable on 20 April 2021 organized by the Philippine Trade and Investment Center (PTIC) in […] The post DTI invites Japanese wiring harness companies to expand in Phl appeared first on Daily Tribune......»»

Category: newsSource:  tribuneRelated NewsApr 22nd, 2021

US Fed more bullish, hikes GDP growth target to 6.5%

Washington---US central bankers are much more optimistic about the outlook for the American economy, as trillions of dollars in stimulus are flowing, but Federal Reserve Chair Jerome Powell cautioned Wednesday that a full recovery remains far off......»»

Category: financeSource:  thestandardRelated NewsMar 18th, 2021

Bus firm remains bullish on business prospects this year

Bacolod-based transport firm Yanson Group of Bus Companies remains bullish about the business prospects this year amid the COVID-19 pandemic, the company’s top official said......»»

Category: financeSource:  philstarRelated NewsFeb 14th, 2021

PH firms see busier 2021 but financing tech shift a challenge, says Grant Thornton

MANILA, Philippines — Philippine companies are preparing for economic recovery and are prioritizing the use of technology to meet an expected uptick in business activity this year, but many face a shortage of financial resources needed to meet these new challenges. Thus revealed the latest International Business Report released on Monday by consulting and audit firm […] The post PH firms see busier 2021 but financing tech shift a challenge, says Grant Thornton appeared first on Cebu Daily News......»»

Category: newsSource:  inquirerRelated NewsJan 25th, 2021

Shell PH bullish, eyes 70 new outlets

The Shell Companies in the Philippines unveiled a plan to expand the retail network with additional 50 to 70 outlets and extend its newly-launched power business, a top executive said Monday night......»»

Category: financeSource:  thestandardRelated NewsJan 20th, 2021

Non-life insurers see recovery this year

Non-life insurers are bullish about their recovery prospects for this year as they expect an increase in the demand for insurance and protection products......»»

Category: financeSource:  philstarRelated NewsJan 17th, 2021

German firms bullish on Philippines recovery

Almost half of German firms in the Philippines expect their business to pick up in the next 12 months, even as they remain cautious about the country’s economic recovery, a survey of the German-Philippine Chamber of Commerce and Industry showed......»»

Category: financeSource:  philstarRelated NewsNov 28th, 2020

Pump prices on slight rollback next week

            Just in time for the start of the Christmas traffic build-up, motorists can enjoy a slight relief in their pockets next week as pump prices will be on rollback of P0.10 to P0.20 per liter for gasoline; and P0.25 to P0.35 per liter for diesel. MB file photo. (Mark Balmores)             Kerosene prices will also be reduced by P0.15 to P0.25 per liter, based on the calculation of the oil companies as hinged on the Mean of Platts Singapore (MOPS).             Next week’s adjustments will break the cycle of mixed up-and-down movements in pump prices which featured prominently in the domestic oil market in recent weeks.             In a monitoring report of the Department of Energy (DOE), it indicated that the year-to-date adjustments in oil prices hover at a net decrease of P4.67 per liter for gasoline; P10.01 per liter for diesel; and P13.44 per liter for kerosene.             Pump prices in the Philippines are influenced by two major factors: the swing in oil prices in the world market; and the fluctuations in the peso-dollar exchange rate.             According to the energy department, the demand recovery for oil in Asia will continue to track “bumpy roads” across products, with longer pace of rebound anticipated for the aviation sector.             It added that refinery runs in the region may scale up by the fourth quarter of this year, but price lifts may take longer to be concretized – and the assumption is for it happening through 2021.             Primarily for gasoline, it was noted that demand may still weaken because of the resurgence of Covid-19 infections, which may then lower winter driving activities especially in Europe......»»

Category: newsSource:  mb.com.phRelated NewsOct 24th, 2020

Dominguez prods local companies to help boost consumer confidence

The Department of Finance has asked local businesses to implement measures that would help regain the confidence of consumers, which is crucial for the country’s economic recovery......»»

Category: newsSource:  philstarRelated NewsOct 17th, 2020

‘Create, FIST to help Covid-hit companies’

The proposed Corporate Recovery and Tax Incentives for Enterprises (Create) and Financial Institutions Strategic Transfer (FIST) laws would address the top concerns of businesses hit by the coronavirus disease 2019 (Covid-19) pandemic, according to the Department of Finance (DoF). In a statement on Wednesday, Finance Assistant Secretary Antonio Joselito Lambino 2nd said the findings of […].....»»

Category: newsSource:  manilatimes_netRelated NewsOct 9th, 2020

Energy companies vow to keep investing in PH

Energy players said business confidence is the key to economic recovery amid the coronavirus pandemic......»»

Category: financeSource:  thestandardRelated NewsSep 20th, 2020

DOF seeks swift passage of 2021 budget, economic measures

The Department of Finance (DOF) has sought the swift enactment by Congress of the proposed national budget for next year along with the economic priority measures to rebuild the economy and decisively defeat coronavirus. Finance Secretary Carlos G. Dominguez III ( MB FILE, Albert Garcia) During a briefing for the Senate finance committee, Finance Secretary Carlos G. Dominguez III said the timely enactment of the P4.506 trillion 2021 national budget is a key component of the government’s comprehensive program under its economic bounce-back plan. On top of the budget, Dominguez also said that a “timely and decisive” passage of several economic priority measures are needed to accelerate economic recovery. The priority measures, now pending in Congress, include the Financial Institutions’ Strategic Transfer (FIST) Act, and the Government Financial Institutions’  Unified Initiatives to Distressed Enterprises for Economic Recovery (GUIDE) bill. FIST allows banks to dispose of bad loans and non-performing assets through asset management companies, while GUIDE seeks to allow state-run banks to form a special holding company that will infuse equity, with strict conditions, into strategically important companies facing insolvency.  Likewise, the finance chief urged the Senate to pass the proposed Corporate Recovery and Tax Incentives for Enterprises Act (CREATE), which will  immediately lower the corporate income tax (CIT) rate from 30 percent to 25 percent. “The swift enactment of CREATE, FIST, GUIDE and the 2021 budget will serve to accelerate our economic recovery. We should not delay providing urgent and necessary relief to our people,” Dominguez said during the Development Budget Coordination Committee (DBCC) briefing. The DBCC is composed of the heads of the Department of Budget and Management (DBM), DOF, National Economic and Development Authority (NEDA), Bangko Sentral ng Pilipinas (BSP); and a senior representative from the Office of the President (OP). “We are committed to working closely with you on the recovery measures so that these can be enacted in a timely, decisive, and responsible manner,” Dominguez told members of the panel chaired by Senator Juan Edgardo Angara. He said the Duterte administration will continue to work with the legislature in passing the remaining packages of the comprehensive tax reform program (CTRP) that will, among others, institute reforms in property valuation and in the taxation of the financial sector. Dominguez said economic recovery also rests on sustaining President Duterte’s signature program “Build, Build, Build,” as sound infrastructure investments provide the largest multiplier effect on the economy in the form of more jobs creation,  increased consumption, and the generation of additional productive activities......»»

Category: newsSource:  mb.com.phRelated NewsSep 9th, 2020

Bataan logs 25 new COVID-19 cases

BALANGA CITY, Bataan – A total of 25 new coronavirus disease 2019 (COVID-19) infections have been reported in Bataan, increasing its total tally to 799. Citing the latest report of the Provincial Health Office, Governor Albert Garcia said on Friday that of the 25 cases, 23 were from Mariveles, which is home to the province’s freeport area that has placed some multi-national companies under lockdown. Mariveles’ municipal government has ordered the lockdown of some villages. The Balanga City public market has also been under lockdown for disinfection, but will reopen on Sunday morning.  Garcia said among the new cases were a six-year-old boy from Mariveles and six senior citizens. Five were from Mariveles – a 64-year-old, a 72-year-old, and a 64-year-old health worker, all women; and a 60-year-old and a 66-year-old, both men – and a 78-year-old woman from Pilar.  Some 17 other new cases were also from Mariveles and one from this city. Garcia said contact tracing showed that 16 of the 25 cases had close contact with those who earlier tested positive for the virus. The number of those who have recovered, meanwhile, rose to 499 with the recovery of 17 patients – eight came from Abucay, five from Limay, and one each from this city, Orion, Morong, and Mariveles. There remain 284 active cases while the number of deaths stood at 16. Of the 12,835 who have undertaken Covid-19 tests, 11,851 have tested negative for the virus while 185 were still waiting for the results of their tests, the PHO said. .....»»

Category: sportsSource:  abscbnRelated NewsAug 29th, 2020

WTTC issues insurance guidelines for travel industry

The World Travel and Tourism Council (WTTC) has released “new normal” insurance guidelines for the travel and tourism sector globally.WTTC is a private global forum composed of over 200 heads of world’s leading travel and tourism companies, such as aviation, hotels, and cruise.In a statement, WTTC said the guidelines are designed to drive the return of safe, healthy and responsible travel, noting that insurance will provide peace of mind and risk mitigation to consumers, suppliers, and organizations across all the stakeholders in the sector.The new guidelines were compiled based on input from leading companies, many of which have partnered with trusted experts in public health and governments to support safe, healthy, and responsible travels.It also aims to promote consistent standards across all relevant functions with an increased focus on health and safety, in line with what travelers need and expect.“We have worked closely with key players across the travel insurance industry to make recommendations to ensure individual travelers, groups and organizations can feel safe and confident enough to travel, sure in the knowledge they have the protection they need,” WTTC President and Chief Operating Officer (CEO) Gloria Guevara said.WTTC divided the new normal guidelines into four pillars, including operational and staff preparedness; ensuring a safe experience; rebuilding trust and confidence; innovation; and implementing enabling policies.Among the recommendations announced include:• All organizations to provide risk management plans, including how they aim to combat COVID-19 to insurers• Organizations to make sure their plans are thorough, practical, and simple to follow• All staff to be informed of protective measures being taken, which include insurance products that will cover them• Insurers to ensure audits identify and plug gaps in and source the right partners and providers to ensure appropriate coverage• Insurers to create blanket insurance and crisis management coverage to give comfort to customers• Ensure there is enhanced awareness of the terms and conditions, restrictions, and coverage limits of insurance products/policies• Insurers to provide a minimum base of mandatory coverage for risks posed by COVID-19• Educate travelers who are unfamiliar with the risk they could be exposed to and what coverage to look for.To recall, Tourism Secretary Bernadette Romulo-Puyat has expressed her confidence in rebuilding the country’s local tourism industry with the help of WTTC, whose primary initiative is the recovery of the global tourism industry amid the unprecedented crisis brought by the COVID-19 pandemic......»»

Category: newsSource:  mb.com.phRelated NewsAug 2nd, 2020

Cleanfuel Strengthens Retail Network in Southern Manila

Now serving with the newest technologies implemented to create high-tech fuel for your vehicles, Cleanfuel, believes in the resiliency of the Filipino people that would bring and sustain solid economic recovery amid health crisis. Their recently opened retail station at Doña Soledad in Parañaque City shows a testament that the company remains upbeat in expanding their network footprints in Southern portion of Metro Manila.   “While 2020 is a challenging year, Cleanfuel has remained optimistic riding in the resiliency of Filipinos towards economic recovery. This is the reason why Cleanfuel Group of Companies continues to invest and opened more stations as a testament and commitment to its people to provide top-notch fuel to every motorist,” said Atty Bong Suntay, President of Cleanfuel. “The opening of the new station in Doña Soledad is in line with Cleanfuel’s goal to expand its reach and strengthen its customer base in the Southern part of Metro Manila,” Suntay said. Situated at the busy thoroughfare of Doña Soledad Avenue Extension at Barangay Don Bosco in Parañaque City, the new station offers a top-notch fuel and lubricants including Clean91 (Unleaded), Premium 95 gasoline, and Euro-4 diesel. It provides access to both public and private motorists from Better Living going to Moonwalk, connecting in the bustling intersection of eastern Parañaque.  In addition, the second district of Don Bosco is the primary residential Barangay of Ninoy Aquino International Airport and one of the 16 Barangays in Parañaque City. Key factors of the city’s progress include banks, shopping malls, restaurants, residential properties, and commercial manufacturing. Motorists heading towards the busy streets of Doña Soledad Avenue Extension from east-west and northern side of Parañaque can gas up to experience Cleanfuel’s brand mantra: Quality fuel for Less! Further, Cleanfuel Doña Soledad station will become a key driver of growth to more than 60,000 population of Barangay Don Bosco. As the city relies on shopping centers as part of major contributors, the company sees that the opening of Cleanfuel Doña Soledad will further strengthen and boost economic confidence. “We’re grateful and honor to inaugurate Cleanfuel Doña Soledad as our first station to open in these unprecedented times. The economy in the City of Parañaque has been growing consistently with massive projects in property and commercial manufacturing,” the company’s chief executive said.  Suntay adds that in the next coming months Cleanfuel is adding more stations not only in NCR but also in provinces to provide quality fuel for business and opportunities for others. “We intend to leverage our business aggressively and expand our retail network across the country, focusing on Mega Manila and Northern Luzon,” concludes Suntay.  Cleanfuel is expected to open more stations in coming weeks in Ortigas Avenue Extension in Pasig and mega branch in Mabalacat Pampanga as part of the long-term business expansion plan. Aside from expansion, the company has extended its support by providing fuel subsidy for the Department of Transportation’s (DOTr’s) Free Bus Ride for Health Workers Program and drive relief donations to northern provinces, which include Pangasinan (Villasis, Binalonan, Pozorrubio) and San Fernando (La Union) and other cities in Metro Manila......»»

Category: newsSource:  mb.com.phRelated NewsAug 1st, 2020