Tag Archive | "Business News Philippines"

Wall Street Week Ahead: Stocks may avert pullback again

NEW YORK  – For a moment, US stocks looked like they were headed for a long-awaited pullback this week. But that didn’t happen. After more signs of a healthier economy, stocks may have room to run higher in the week ahead. With oil prices well abov…

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Mining EO still in works, Palace reassures stakeholders

Malacañang on Saturday assured concerned parties it is still crafting an executive order on mining, as it belied reports that the government has stopped efforts on the matter.

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Malacañang still not keen on suggestions to reduce VAT on fuel

Amid a series of oil price increases, Malacañang on Saturday indicated it is still not keen on suggestions to reduce the value-added tax on fuel products. Deputy presidential spokesperson Abigail Valte said “If we temporarily suspend imposing th…

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Global Markets: Upbeat US jobs data lifts shares, dollar

NEW YORK  – Global stocks rose and the dollar rallied broadly on Friday after strong U.S. jobs data beat expectations, providing another sign the world’s biggest economy is recovering.

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Mining firms face growing ‘resource nationalism’ across continents

TORONTO/MELBOURNE  – Indonesia’s decision to shut the door on foreign control of its mines has gone down badly with global miners but none are yet threatening to quit the country: the truth is, they no longer have any easy investment destinations to …

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Coca-Cola, Pepsi to reduce ‘cancer-causing’ caramel coloring content of their softdrinks

WASHINGTON – Coca-Cola said Friday it will lower levels of a chemical in caramel coloring to comply with a California law, but insisted the beverage’s recipe will not change and poses no health risks.

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US economy creates 227,000 new jobs, unemployment rate at 8.3% in Feb.

WASHINGTON  – The US economy continued to pump out jobs in February despite slower growth, enough to hold the overall jobless rate at a three-year low of 8.3 percent, the Labor Department said Friday.

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Philex mining chief Pangilinan says PHL needs EPA-like environment commission

Manuel V. Pangilinan, chairman and CEO of Philex Mining Corp., has put forth a set of policy recommendations, including the creation of a commission similar to the Environmental Protection Agency (EPA) of the United States.

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Paper is no better for the environment – plastics industry official

Contrary to popular belief, paper is no friendlier to the environment than plastic, according to Crispian Lao, president and spokesperson of the Philippine Plastics Industry Association.

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Japan’s Keidanren eager to invest in PHL, says Palace official

The Japan Business Foundation (Nippon Keidanren) has expressed eagerness to invest in Philippine industries, even as the Palace underscored the country’s strategic trade agreements with Japan.

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Bank deposits hit P5.12T as savings deposits grow – PDIC

Boosted by a 5.4-percent growth in deposits in commercial banks and an 8.3-percent increase in savings deposits, total deposits grew by P251.2 billion or 4.9 percent last year to P5.12 trillion, according to the Philippine Deposit Insurance Commission.

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Lingering supply disruptions, low demand weigh on PHL car sales – CAMPI

Lingering supply disruptions and seasonal downtrend in demand weighed against car sales last month, according to the Chamber of Automotive Manufacturers of the Philippines Inc.

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SSS suing more companies for not remitting contributions

The Social Security System, the pension fund for private sector employees, wants to sue more companies this year for not remitting the contributions of their workers. Last year, SSS sued 1,227 employers or 66 percent more than the 740 cases filed a yea…

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Philippine stocks rise on Greek debt news

Shares on the Philippine Stock Exchange closed mostly higher Friday, following the uptrend in Asian markets on hopes over Greece’s financial woes.

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PHL wants  flood-damaged Toyota factories transferred to Santa Rosa

Right after the 500,000th Toyota car rolled out of the assembly plant in Santa Rosa, Laguna, on Thursday, Philippine Economic Zone Authority director-general Leila de Lima immediately went down to business and huddled with the Japanese carmaker’s…

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