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Production output, value slow down in Oct. ’17

MANILA –Manufacturing industry’s production volume and value slowed down in October this year, the Philippine Statistics Authority (PSA) reported Tuesday. Volume of production index (VoPi) for October this year declined by 6.5 percent, from a 9.9 percent growth in the same month in 2016. Likewise, value of production index (VaPi) went down by 6.3 percent …

Anti-trust body issues guidelines on SM-Goldilocks deal

MANILA — The Philippine Competition Commission (PCC) said it has issued a Statement of Concerns (SOC) to the parties involved in the planned acquisition of Goldilocks Bakeshop, Inc., the country’s largest bakeshop chain, by Sy-led SM Investments Corp. (SMIC). In a media briefing Tuesday, PCC Commissioner Stella Luz Quimbo, said the anti-trust body issued SOC …

Mergers, acquisition deals reach P2-T mark

MANILA —The Philippine Competition Commission (PCC) received notices of mergers and acquisitions (M&A) amounting to PHP2 trillion as of December 8. During a media seminar of PCC Monday, the Commission’s Merger and Acquisition Office head Lianne Ivy Medina said the notices came from 124 transactions. Medina said the Rules on Merger Procedure took effect last …

New South Wales wants to boost economic ties with PH

MANILA — The government of New South Wales aims to strengthen its trade and investment ties with the Philippines, particularly sharing its expertise and technological know-how and participating in infrastructure projects. In a statement Monday, Department of Trade and Industry (DTI) Secretary Ramon Lopez said the government of New South Wales expressed its interest to …

NPC aims for privacy resiliency

MANILA— The National Privacy Commission (NPC) wants the country to be privacy-resilient to prevent violations on data privacy and security. During the FintQ on Q Session Thursday, NPC Chairman and Commissioner Raymund Enriquez Liboro said the agency’s end-goal is to build data privacy resiliency in both public and private sectors, and establish trust among stakeholders. “My …

Coca-Cola to buy more local sugar

MANILA — Beverage firm Coca-Cola FEMSA Philippines (KOF) plans to buy more sugar from local sources for its beverage manufacturing activities next year. The company said Thursday it bought  two million bags of local sugar this year, up more than 80 percent from 1.1 million bags in 2016. “The planned sugar purchases for 2018 promise …

NPC aims for privacy resiliency

MANILA — The National Privacy Commission (NPC) wants the country to be privacy-resilient to prevent violations on data privacy and security. During the FintQ on Q Session Thursday, NPC Chairman and Commissioner Raymund Enriquez Liboro said the agency’s end-goal is to build data privacy resiliency in both public and private sectors, and establish trust among …

Gov’t allots P1-B microloan for MSMEs in 2018

MANILA — The Duterte administration has allocated PHP1 billion for next year’s Pondo sa Pagbabago at Pag-asenso, or P3 microloan program for micro, small, and medium enterprises (MSMEs). In a statement Thursday, DTI Undersecretary Zenaida Maglaya said President Rodrigo Duterte kept his promise to provide affordable microfinancing program for small-scale businesses for them to avoid borrowing money and capital from …

Domestic trade volume up double digit in Q3 ’17

MANILA — Quantity of goods traded in the domestic market in July to September period has increased by double digit this year compared to the same period in 2016. Philippine Statistics Authority (PSA) data released Thursday showed that volume of domestic trade in third quarter of the year grew 18.9 percent to 4.86 million tons from …

JFC urges Congress to pass legislation resolving traffic jam

MANILA – The Joint Foreign Chamber (JFC) in the Philippines on Wednesday urged Congress to complete legislation procedures that would resolve traffic and congestion crisis in the country. “We urge Congress to complete its legislative procedures and approve the legislation on second and third reading at the earliest possible date, and recommend the President certify …

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