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August merchandise export growth fails to stem trade deficit

THE COUNTRY’s merchandise trade deficit lingered above the $3-billion mark for the fifth straight month this year in August as a pickup in export growth that month failed to offset a slower increase in imports, according to data the Philippine Statistics Authority (PSA) reported on Wednesday.

CLC-Trans-Asia deal under review

THE Philippine Competition Commission (PCC) on Wednesday started a review of Chelsea Logistics Holdings Corp.’s (CLC) acquisition of Trans-Asia Shipping Lines, Inc.

CAC recalls over 2,000 Kia Carnival VQ units

COLOMBIAN Autocar Corporation (CAC), the authorized distributor of Kia cars in the Philippines, has recalled 2,379 units of Carnival VQ vehicles to upgrade their integrated circuit modules (ICM).

BPO industry may miss job creation goal by 40% if incentives...

THE information technology and business process outsourcing (IT-BPO) industry said it may fall 40% short of its 2018 job creation target in a high-tax regime.

PEZA-registered investment pledges down 55% in 9 months

THE Philippine Economic Zone Authority (PEZA) said investment pledges in the first nine months of 2018 declined over 55% with potential investors taking a wait-and-see attitude pending the passage of the Tax Reform for Attracting Better and High Quality Opportunities or TRABAHO bill.

Trade department evaluating caps on margin for agricultural goods

THE Department of Trade and Industry (DTI) said it may recommend to President Rodrigo R. Duterte a cap on the margins that can be earned on the sale of certain agricultural commodities.

PCC approves Rockwell-Carmelray JV

ROCKWELL Land Corp. is set to launch a 63-hectare mixed use estate in Laguna by the middle of 2019, after securing approval from the Philippine Competition Commission (PCC) for its partnership with the Yulo family.

DTI recruiting major retailers to sell P38/kilo imported rice

THE Department of Trade and Industry (DTI) will invite major retailers to import 350,000 metric tons (MT) of rice to supply supermarkets by the end of October, noting that two such groups have expressed their willingness to import the staple.

Domestic trade flows grow sharply in Q2

THE VOLUME and value of domestic trade both grew sharply across most categories of commodity shipped during the second quarter, the Philippine Statistics Authority (PSA) said.

Wheat imports by flour millers to be flat in 2018

WHEAT IMPORTS by flour millers are expected to be little changed this year with demand for wheat products tempered by the commodity’s high price on world markets.

DTI touts TRABAHO bill’s ₱5-B training fund amid job-loss fears

THE Department of Trade and Industry (DTI) said workers from the business process outsourcing (BPO) industry will receive aid in upgrading their skills from a P5 billion fund to be set up under the latest tax reform legislation.

NPC to tap white hat hackers to secure ID system

THE National Privacy Commission (NPC) has tapped white hat hackers to help secure the government’s central database platform on information on all citizens and resident aliens.

PSE index continues to slide

THE Philippine stock market ended the quarter in the red, as the month-end’s window dressing failed to stem the market’s continued slide.

Car sales fall further in August

DOMESTIC sales of automobiles picked up in August from the previous month, but declined 14.1% when compared to the same month a year ago.

US chipmaker maintains local spending plan ahead of changes in incentives...

CALIFORNIA-BASED chipmaker Maxim Integrated, Inc. is maintaining its capital expenditure program in the country next year despite the semiconductor industry’s concerns over the government’s plan to change its fiscal incentive policies.

IPOPHL to offer fast track for patent applicants

THE Intellectual Property Office of the Philippines (IPOPHL) said it will soon offer a fast-track lane for trademark applicants to comply with the Ease of Doing Business law’s mandatory timeline.

DTI turns to Japan for help in launching small businesses

THE Department of Trade and Industry (DTI) has invited more tech-focused small and medium-scale businesses from Japan to partner with Philippine companies that can help in launching their products in the market.

SB Corp. in e-payment tie-up for entrepreneurs

THE Small Business Corporation (SB Corp.) has tied up with the Land Bank of the Philippines (LANDBANK) to offer an e-payment service to mostly benefit micro, small and medium enterprises (MSMEs) in rural areas.

NFA says rice dealers do not want to sell lower-grade grains

THE National Food Authority (NFA) said the market is running short of regular-milled rice, which it says should force a rethink of the private-sector led-importation rules to increase the availability of the affordable type of the staple.

DTI receiving inquiries from manufacturers seeking to leave China

THE Department of Trade and Industry (DTI) said it has received inquiries from some foreign firms seeking to relocate manufacturing operations to the Philippines amid tensions between US and China.

Nissan posts record sales in 18 years

NISSAN Philippines, Inc. said it had registered in August the largest monthly sales in 18 years, despite unfavorable market conditions slowing down the auto industry’s sales.

Economic team wields inflation tool kit

THE PHILIPPINE ECONOMY is ready to face headwinds from rising inflation and further depreciation of the peso which have intensified in recent months, economic managers said on Tuesday, saying the government has all the tools it needs to handle these “temporary” challenges.

Hyundai sales down in August

HYUNDAI Asia Resources, Inc. saw August sales decline nearly a tenth and expects the slow down in automotive buying to continue amid increasing global oil prices and the continuing effect of the excise tax on vehicles coupled with the rapid rise of inflation.

Electronics industry expects to hit $50-B export level by 2030

THE Semiconductor and Electronics Industries in the Philippines Foundation, Inc. (SEIPI) said its industry road map sets a 6% annual export growth target which will help it achieve its $50 billion target for export sales by 2030.