TODAY'S BUSINESS HEADLINES

Food importers say permits cancellation hurting them, but DA chief firm on review Thu, Dec 1, 2016, 5:25 PM | Shyla Francisco, Bloomberg TV Philippines

RCBC won't compensate Bangladesh for $81-M heist Tue, Nov 29, 2016, 6:40 PM | Reuters

Trump says he will back away from business to focus on White House Thu, Dec 1, 2016, 7:27 PM | Steve Holland and Melissa Fares, Reuters

BSP reminds public on end-December '16 deadline to swap old paper bills Wed, Oct 19, 2016, 8:46 PM | Philippines News Agency

IT-BPM industry continues to lure clients despite political risks Tue, Nov 29, 2016, 7:40 PM | Jun Ebias, InterAksyon.com

SRA warns of fake sugar import certificates 7:48 am | InterAksyon.com The Sugar Regulatory Administration bared the existence of fake certificates to import a total of 40,000 metric tons of sugar and said it would 'not take this incident lightly and will launch an investigation into these irregularities.'

NVAP hits move to delay unitary tobacco tax system NVAP hits move to delay unitary tobacco tax system 12:06 am | InterAksyon.com A group of laryngeal cancer survivors has warned against moves by some tobacco companies to stop a unitary tax system on tobacco products that was…

PHL nickel ore output in Q3 drops 16% as Duterte\ PHL nickel ore output in Q3 drops 16% as Duterte's green clampdown bites 10:35 pm | Manolo Serapio Jr., Reuters The Philippines' output of nickel ore fell 16 percent in the third quarter from a year earlier, government data showed on Monday, after the world's…

PSEi, PHP weaken ahead of Fed meeting PSEi, PHP weaken ahead of Fed meeting 8:09 pm | Philippines News Agency Anticipations for a Federal Reserve rate hike mid-December increased volatility in both the local bourse and the currency market Monday.

COCKTALES | Shop pa more? Local banks raise credit card rates COCKTALES | Shop pa more? Local banks raise credit card rates 9:57 am | Victor C. Agustin, InterAksyon.com The major local banks have started increasing the finance rates they slap on credit card purchases ahead of the anticipated US Fed decision to raise…

Philippines seeks Bangladesh help on $81-M heist Philippines seeks Bangladesh help on $81-M heist 7:20 pm | Agence France-Presse | With InterAksyon.com The Philippines has asked Bangladesh to share details of its investigation into an $81-million cyber-heist from the Bangladesh central bank after the proceeds ended up…

Malaysian firm bullish on P1.5-B Nueva Ecija IT hub Malaysian firm bullish on P1.5-B Nueva Ecija IT hub 10:57 am | Philippines News Agency A Malaysian conglomerate which bankrolled the P1.5-billion government center cum information technology (IT) hub in Nueva Ecija province is bullish over the prospects of a…

DPWH, DTI team up in developing infra projects that boost industry 9:28 am | Shyla Francisco, Bloomberg TV Philippines DPWH, DTI team up in developing infra projects that boost industryThe Departments of Trade and Industry (DTI) and of Public Works and Highways (DPWH) have teamed up to give priority to infrastructure projects that can help local manufacturers, as economic managers see the sector eventually overtaking services as main driver of growth.

New govt blueprint for decent employment envisions 7.5M jobs by 2022 12:36 am | InterAksyon.com New govt blueprint for decent employment envisions 7.5M jobs by 2022A new government blueprint for decent job creation through employment and entrepreneurship from 2017 to 2022 was adopted at the conclusion Friday (Dec. 2) of the two-day Trabaho, Negosyo at Kabuhayan (TNK)-Employment and Livelihood Summit.

RHI posts 451% jump in net income to P102M 12:00 am | InterAksyon.com RHI posts 451% jump in net income to P102MRoxas Holdings, Inc. announced its audited financial and operating results for Crop Year ended September 30, 2016, posting a 451-percent rise in consolidated net income of P102 million, over the P18.5 million recorded a year earlier.

DBP supports pipe fitting business, grants P5-M loan to firm 11:46 pm | InterAksyon.com DBP supports pipe fitting business, grants P5-M loan to firmThe Development Bank of the Philippines (DBP) has granted a P5-million loan to Tung Fong Industrial Co., Inc. to finance the manufacture, and increased production output, of its stainless steel buttweld pipe fittings product.

SM City East Ortigas opens in time for Christmas 11:40 pm | InterAksyon.com SM City East Ortigas opens in time for ChristmasSM Prime Holdings Inc., one of the leading integrated property companies in Southeast Asia, opened Friday (Dec. 2) its newest mall, SM City East Ortigas, offering another shopping destination just three weeks before Christmas.

PSEi, PHP improve on rise in US jobless claims 8:43 pm | Joann Santiago, Philippines News Agency PSEi, PHP improve on rise in US jobless claimsHigher-than-expected rise of US’ jobless claims in the week ending Nov. 26, 2016 helped boost both the Philippine Stock Exchange index (PSEi) and the peso Friday.

JAZA to bizmen: Time to boost technology-driven manufacturing 7:56 pm | Tricia Aquino, InterAksyon JAZA to bizmen: Time to boost technology-driven manufacturingAyala Corporation chairman and CEO Jaime Augusto Zobel de Ayala is encouraging Filipino businessmen to leverage technological advancements in manufacturing and move up the value chain.

Shakey’s to open 20 new stores in 2017, eyes P3.96-B from IPO 6:55 pm | Philippines News Agency Shakey’s to open 20 new stores in 2017, eyes P3.96-B from IPOFull service pizza chain, Shakey’s Pizza Asia Ventures Inc. (SPAVI), which is launching a P3.96-billion initial public offering (IPO), targets to put up 20 new stores next year, as it embarks on expansion here and abroad.

Philippines retains high manufacturing index in November 9:15 pm | Kris M. Crismundo, Philippines News Agency Philippines retains high manufacturing index in NovemberThe Philippines has continued to post a high level of manufacturing index in November, the Manufacturing Purchasing Managers’ Index (PMI) of IHS Markit and Nikkei reported Thursday.

PSEi up, PHP almost unchanged after OPEC okays production cut 7:56 pm | Philippines News Agency PSEi up, PHP almost unchanged after OPEC okays production cutExpected impact on inflation and the Federal Reserve interest rate brought about by the oil production cut by most Organization of the Petroleum Exporting Countries (OPEC) members caused mixed results for the Philippines’ equities markets and currency.

Trump says he will back away from business to focus on White House 7:27 pm | Steve Holland and Melissa Fares, Reuters Trump says he will back away from business to focus on White HouseUS President-elect Donald Trump vowed on Wednesday to step back from running his global business empire to avoid conflicts of interest but gave few immediate details as concern over his dual role mounts ahead of his Jan. 20 inauguration.

More direct flights between Europe, ASEAN eyed 5:43 pm | Gerard dela Peña, Bloomberg TV Philippines More direct flights between Europe, ASEAN eyedWith its fast-growing economies and population, ASEAN has been tagged as the world's most dynamic aviation market.

Food importers say permits cancellation hurting them, but DA chief firm on review 5:25 pm | Shyla Francisco, Bloomberg TV Philippines Food importers say permits cancellation hurting them, but DA chief firm on reviewComplaints greeted the DA Secretary's sudden order cancelling all import permits for food to allow for their re-validation, and for good reason. With the holidays nearing, many of the importers already had their shipments in the ports, where additional days in storage could jack up costs.

Saudis take 'big hit' as OPEC seals first joint oil cut with Russia since 2001 8:24 am | Rania El Gamal, Alex Lawler and Ahmad Ghaddar, Reuters Saudis take \OPEC agreed on Wednesday its first oil output cuts since 2008 after Saudi Arabia accepted 'a big hit' on its production and dropped its demand on arch-rival Iran to slash output.

Petron to cut LPG prices by P0.50/kg 10:24 pm | Philippines News Agency Petron to cut LPG prices by P0.50/kgPetron Corporation will decrease Gasul and Fiesta liquefied petroleum gas prices by P0.50 per kilogram effective at 12:01 a.m. on Thursday.

OPEC discusses output cut, sending prices higher 10:04 pm | Simon Sturdee and Serene Assir, Agence France-Presse OPEC discusses output cut, sending prices higherThe OPEC oil cartel held tense talks Wednesday to try to agree its first output cut in eight years, sending oil prices soaring on hopes it will defy gloomy expectations.