DEPT. OF SCIENCE AND TECHNOLOGY
PHILIPPINE STATISTICS AUTHORITY
2018 BANTOG DATA MEDIA AWARDS CHAMPION
BusinessMirror
www.businessmirror.com.ph
A broader look at today’s business n Friday, March 29, 2019 Vol. 14 No. 170
2017 ejap journalism awards
business news source of the year
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BSP poll: Pinoys see bright outlook for Q1 F
By Bianca Cuaresma
@BcuaresmaBM
ILIPINOS felt an improvement in the country’s economic condition in the first three months of 2019, compared to the economy’s performance toward the end of 2018, as more businesses and households expect better income and lower inflation for the period. Both local firms and consumers alike showed a marked improvement in their respective confidence index for the January-to-March period this year, data from the Bangko Sentral ng Pilipinas’s (BSP)
quarterly survey showed. In particular, business outlook in the economy printed an overall confidence index of 35.2 percent, from the 27.2 percent in the fourth quarter of last year. This
quarter’s rise in the country’s overall business sentiment snaps the four consecutive quarters of decline in 2018. For local consumers, their outlook rose to -0.5 percent for the
35.2%
The speakership race for the 18th Congress
Overall confidence index of business, from the 27.2 percent in the fourth quarter of 2018. This quarter’s rise in the country’s overall business sentiment snaps the four consecutive quarters of decline in 2018
Manny F. Dooc
first quarter of the year, from the -22.5 percent seen in the Octoberto-December period last year. This is the all-time largest quarter-onquarter increase since the start of the nationwide survey in the first quarter of 2007.
TELLTALES
W
e have yet to know the members of the 18th Congress but this early, the speakership race is starting to heat up. For example, presidential daughter Sara Duterte has endorsed the bid of former presidential nephew Rep. Martin Romualdez of the First District of Leyte as Speaker of the House. Then a couple of days later, she also endorsed Rep. Lord Allan Velasco of Marinduque for the same position. Earlier, President Duterte endorsed for the post former Sen. Alan Peter S. Cayetano who has given up his Foreign Affairs portfolio for a chance to bang the Speaker’s gavel when the 18th Congress opens in July. The contest is definitely getting merrier, messier but hopefully not meaner. Who will win the sweepstakes is anybody’s guess, and it’s anybody except perhaps former Speaker Pantaleon Alvarez. Others reportedly in the race are Rep.Ronaldo Zamora of San Juan City, Rep. Lucy Torres-Gomez of the Fourth District of Leyte and Rep. Ricky Sandoval of Malabon.
See “BSP poll,” A2
NG debt at P7.45T in February By Rea Cu
@ReaCuBM
Continued on A15
T
HE national government’s outstanding debt as of February was at P7.451 trillion, 9.25 percent higher than the year-ago level of P6.82 trillion, the latest data from the Bureau of the Treasury (BTr) showed. The February figure, however, was 0.6 percent lower than the P7.494 trillion recorded in January, according to BTr data. In terms of sources, the BTr said the national government borrowed more from domestic sources. “Of the total stock, 34.3 percent were sourced from external markets while 65.7 percent were owed to domestic creditors.” Broken down, domestic debt accounted for P4.898 trillion of the total debt for the month, while foreign debt was at P2.553 trillion. Domestic debt for the month was higher by 10.6 percent compared to the February 2018 level of P4.429 trillion. But the figure is lower than the January level of P4.909 trillion. “For February, the lower domestic debt was principally due to the net redemption of government securities amounting to P11.46 billion and the P0.19-billion downward valuation of onshore dollar bonds brought about by peso appreciation,” it added.
See “NG debt,” A16
Jakarta, KL to end issue over palm oil export surge By Jasper Emmanuel Y. Arcalas @jearcalas
SAM AT YOUR SERVICE As part of a series of innovations designed to improve customers’ malling experience, SM Supermalls raises the bar in customer service with the introduction of SAM, the country’s first-ever in-mall smart robot, launched at SM Megamall. SAM is an artificial-intelligence humanoid robot programmed to deliver a smoother, more personalized and efficient interaction with customers. In photo are (from left), Christian Matthay, SM Supermalls AVP for Operations; Steven Tan, SM Supermalls COO; and Jon-Jon San Agustin, SM Supermalls SVP for Marketing. NONOY LACZA
‘Approved investments to rise from 23% dip’ By Cai U. Ordinario
T
@caiordinario
HE Board of Investments (BOI) remains optimistic that the country’s total approved investments will recover in the coming months given the number of projects in the pipeline.
PESO exchange rates n US 52.5810
In a statement, BOI data showed that total approved investments of both foreigners and Filipinos posted a 23-percent decline in the January-to-February period. Approved total investments reached only P101.72 billion in the January-to-February period, lower than the P131.61 billion posted in
the first two months last year. “We have key projects in the pipeline, particular in the area of power, that are still undergoing BOI’s rigorous evaluation process on technical and financial aspects; and equally important, on their compliance with requirements for See “Investments,” A2
J
AK ARTA and Kuala Lumpur have agreed to settle Manila’s concerns over the surge in palm oil imports from the Southeast Asian neighbors, with the Philippines proposing that they restrict their exports to a level not detrimental to Filipino copra farmers. Agriculture Secretary Emmanuel F. Piñol announced on Thursday that Malaysia and Indonesia have agreed to form a tripartite technical working group (TWG) to address the reported dumping and smuggling of palm oil from them over the recent years. The agreement was reached on Wednesday during the courtesy call of Malaysian and Indonesian officials at the office of Piñol. T he T WG w il l discuss the
proposals of the Philippine government on the “rationalization” of Malaysian and Indonesian palm oil exports to Manila, Piñol said. One of the proposals of the Philippines is for Malaysia and Indonesia to “keep” their palm exports “at levels which would not hurt” Filipino coconut oil and local palm oil industries. Piñol also recommended that Malaysia and Indonesia verify reports that some of their palm oil products are being smuggled to the Philippines. Furthermore, the agriculture chief also appealed to Malaysia and Indonesia to open up their markets to Philippine coconut-based products “to correct” the trade imbalances between the countries that have been in favor of Jakarta and Kuala Lumpur. See “Palm oil,” A2
n japan 0.4758 n UK 69.3754 n HK 6.6994 n CHINA 7.8170 n singapore 38.8023 n australia 37.2484 n EU 59.1431 n SAUDI arabia 14.0216
Source: BSP (28 March 2019 )