Another cut in BSP rates, RRR eyed

July 09, 2020
An economist of HSBC forecast a 25-basis points cut in the Bangko Sentral key rates and another 200-basis points reduction in banks’ reserve requirement before the year-end as part of BSP’s measures to help lift the economy.

BARMM health exec’s initiatives praised by frontliners

July 07, 2020
Said frontliners have identified themselves as members of the region’s rural health unit since the time of ARMM. They commended Dipatuan’s commitment to good governance and transparency that paved the way for rural health workers to receive midyear bonus, clothing allowance, and hazard pay for the first time.

Banks ask BSP to extend some relief measures

July 04, 2020
Among the measures implemented by the BSP to address the impact of the community quarantines, which the government implemented to stem the rise in coronavirus disease 2019 cases, are the electronic submission of documents for applications for approval and/or registration of foreign currency loans, borrowings, investments; the sale of foreign exchange by authorized agent banks; the use of electronic signature or digital signatures for documents originally required to be submitted in hard copy and non-imposition of monetary penalties for delayed submitted of reports.

Buy local, save jobs -- DTI chief

July 04, 2020
“We follow the free market and in the end, we will create the environment of competition. If we ban the import, we might spoil the local manufacturing and that’s what we are avoiding. Free market but what we are asking on the demand side from our consumers, is to prioritize the local produce,” he added.

P711-M pandemic aid released to 7-Eleven franchisees

July 04, 2020
Philippine Seven Corp., the exclusive licensor of 7-Eleven in the country, has started releasing its P711-million pandemic support program for its franchisees.a“We recognized immediately that the country’s and the world’s battle with Covid-19 would be long and painful, so the first thing we did was (to) request our bankers for an increase in our credit lines. Thankfully, they responded quickly and generously, and our next focus became how to deploy this access to capital strategically during the pandemic. The PSP is one such example,” PSC president and chief executive officer Jose Victor Paterno said.

Sharpening PH export edge

July 01, 2020
Philippine Exporters Confederation Inc. president Sergio Ortiz-Luis Jr. said the FIRe (Fourth Industrial Revolution) project hopes to serve as a platform to help advocate and to shepherd interested PHILEXPORT members to leverage on technology for business growth.

DTI-EMB urges entreps to ‘platformize’ biz

July 01, 2020
Department of Trade and Industry-Export Marketing Bureau director Senen M. Perlada encouraged entrepreneurs to “platformize” or use online platforms to promote their businesses, both in local and global markets, as part of the digital transformation entrepreneurs would have to go through to thrive in the new normal.