Pinoy Business News

Pinoy Business News

  • Financial execs 'strongly urge' passage of GUIDE bill to aid small businesses
    by ABS-CBN News on February 25, 2021 at 9:18 am

    A group composed of the country’s top financial executives is urging Congress to pass a bill that seeks to provide financial assistance to distressed micro, small and medium enterprises (MSMEs).

  • Traveloka plans regional fintech expansion before 2021 listing
    by Fanny Potkin and Anshuman Daga, Reuters on February 25, 2021 at 7:17 am

    Traveloka, Southeast Asia's largest online travel startup, plans to launch financial services in Thailand and Vietnam as it eyes a US listing through a blank-cheque company, its president said.

  • PLDT's air charter business sees growing demand in private transport service
    by ABS-CBN News on February 25, 2021 at 7:13 am

    Demand for private air charter service is starting to pick up this year as travel restrictions are being relaxed and the economy reopens, PLDT's aviation arm Pacific Global One Aviation (PG1) said Thursday. 

  • Apple supplier Foxconn teams up with Fisker to make electric vehicles
    by Akanksha Rana and Ben Klayman, Reuters on February 25, 2021 at 5:26 am

    Electric-car maker Fisker Inc said it will work with Apple Inc supplier Foxconn to produce more than 250,000 vehicles a year beginning in late 2023, sending its shares up 18 percent.

  • Huawei, controversial in the West, is going strong in the Gulf
    by Aziz El Massassi, Agence France-Presse on February 25, 2021 at 4:21 am

    Chinese telecoms giant Huawei is enjoying an extended honeymoon with oil-rich Gulf nations, despite being criticized in the United States and Europe as a potential security threat. 

  • Australia passes landmark law requiring tech firms to pay for news
    by Reuters on February 25, 2021 at 4:19 am

    Australia's parliament passed landmark legislation Thursday requiring global digital giants to pay for local news content, in a move closely watched around the world.  

  • Asia markets track Wall St record after Powell’s soothing words
    by ggaviola on February 25, 2021 at 3:57 am

    HONG KONG – Another Federal Reserve reassurance it would not hike interest rates until absolutely necessary buoyed Asian markets Thursday, while traders were also taking heart from more positive developments on the vaccine front. Expectations the global economy will rocket have helped equities surge in recent weeks, but optimism is giving way to concerns the The post Asia markets track Wall St record after Powell’s soothing words appeared first on Inquirer Business.

  • Children's book 'Cashaysayan' discusses origin of Philippine currency
    by ABS-CBN News on February 25, 2021 at 2:56 am

    'Cashaysayan' is a history book for kids and kids at heart that discusses the history of the Philippine currency, author Divina Gil Reyes told ANC.

  • Qantas posts huge loss, says no international flights until October
    by Agence France-Presse on February 25, 2021 at 2:03 am

    Australian carrier Qantas reported a US$5.5 billion plunge in revenue during the second half of 2020 and said international passenger flights would not resume until October as the pandemic continued to devastate the industry.

  • Bitcoin collector MicroStrategy fills its wallet with another $1 billion
    by Reuters on February 25, 2021 at 12:47 am

    Major bitcoin corporate backer MicroStrategy Inc said on Wednesday it bought another 19,452 bitcoin, worth around $1.03 billion, swelling its holdings of the cryptocurrency and sending the company's shares 8 percent higher in premarket trading.

  • Facebook exploring potential news licensing agreements in Canada: source
    by Moira Warburton, Reuters on February 25, 2021 at 12:36 am

    Facebook Inc is exploring potential licensing agreements in the coming year with Canadian media outlets and expanding its investment in local journalism initiatives, a source familiar with the company's thinking said on Wednesday.

  • More than 200 groups urge G20 to back IMF issuance to help poor countries in pandemic
    by Reuters on February 25, 2021 at 12:35 am

    In an open letter to the International Monetary Fund and G20 finance ministers, the groups said a new allocation of SDRs would boost the reserves of all countries and avoid pushing low- and middle-income countries further into debt distress.

  • SMDC helps build better, more sustainably with integrated communities
    by ilucas on February 24, 2021 at 11:00 pm

    In 2018, 4.2 billion people or 55 percent of the world’s population lived in cities. By 2050, urban population is expected to balloon to 6.5 billion, according to estimates cited by the United Nations Development Programme. While this growth can potentially lead to a boom in mega-cities and improve the residents’ quality of living, unplanned The post SMDC helps build better, more sustainably with integrated communities appeared first on Inquirer Business.

  • Wall Street finishes up as Fed’s Powell soothes inflation fears
    by ggaviola on February 24, 2021 at 10:29 pm

    NEW YORK  – Shares on Wall Street ended higher on Wednesday, as a selloff in technology-related stocks eased and a rotation into cyclical shares continued after Federal Reserve Chair Jerome Powell’s comments calmed inflation worries. The Nasdaq index, which traded as much as 1.3% lower earlier in the session, regained its footing by early afternoon The post Wall Street finishes up as Fed’s Powell soothes inflation fears appeared first on Inquirer Business.

  • Treasury to raise P160B from sale of bills, bonds in March
    by clopez on February 24, 2021 at 9:30 pm

    The Bureau of the Treasury will offer P160 billion in bills and bonds in March to take advantage of excess domestic liquidity even as yields are expected to rise alongside rising rates of US treasuries. In a memorandum to all government securities eligible dealers on Tuesday, National Treasurer Rosalia de Leon said P20 billion each The post Treasury to raise P160B from sale of bills, bonds in March appeared first on Inquirer Business.

  • Landbank extends P62.32B in loans to help LGUs recover from pandemic
    by clopez on February 24, 2021 at 9:28 pm

    The state-run Land Bank of the Philippines (Landbank) has extended P62.32 billion in loans for projects aimed at local government units’ (LGUs) recovery from the health and socioeconomic crises inflicted by COVID-19. In a statement on Wednesday, Landbank said it already released P1.89 billion to 32 local governments that borrowed money under its restoration and The post Landbank extends P62.32B in loans to help LGUs recover from pandemic appeared first on Inquirer Business.

  • SEC OKs AboitizPower’s P30-B bond shelf registration, health-care firm’s IPO plan
    by clopez on February 24, 2021 at 9:26 pm

    The Securities and Exchange Commission (SEC) has approved a P30-billion bond shelf registration planned by Aboitiz Power Corp. and the P1-billion initial public offering (IPO) of hospital operator ACE Medical Center-Palawan. In its meeting on Feb. 23, the SEC en banc rendered effective the respective registration statements of Aboitiz Power and ACE Medical Center-­Palawan, subject The post SEC OKs AboitizPower’s P30-B bond shelf registration, health-care firm’s IPO plan appeared first on […]

  • ALI sees sustained business recovery from slump
    by clopez on February 24, 2021 at 9:22 pm

    Property giant Ayala Land Inc. expects businesses to return to pre-coronavirus (COVID-19) pandemic levels in two to three years after the unprecedented business disruptions that dragged down its net profit by 74 percent last year. A V-shaped recovery is expected starting this year, during which ALI has earmarked P88 billion in capital outlays, higher than The post ALI sees sustained business recovery from slump appeared first on Inquirer Business.

  • PSEi tracks sluggish regional markets, slips by 0.86%
    by clopez on February 24, 2021 at 9:20 pm

    The local stock barometer slipped below the 6,800 mark on Wednesday ahead of a holiday break to commemorate the Edsa revolution. The Philippine Stock Exchange index (PSEi) shed 58.72 points, or 0.86 percent, to close at 6,755.95, tracking mostly sluggish regional markets. With the PSEi set to take a pause for Thursday’s holiday, a muted The post PSEi tracks sluggish regional markets, slips by 0.86% appeared first on Inquirer Business.

  • Inequality, risk, love
    by clopez on February 24, 2021 at 9:18 pm

    My parents say I am too idealistic,” says reader K.T., 25 years old. “They are not sure if I can succeed in our family business because I am ‘too nice.’ But I stand by my values. What bothers me is the huge inequality in our society, especially now in the pandemic. The rich get richer The post Inequality, risk, love appeared first on Inquirer Business.

  • Metro Pacific hastens progress on C-5 Link; heavy traffic expected
    by clopez on February 24, 2021 at 9:16 pm

    A unit of infrastructure giant Metro Pacific Investments Corp. plans to accelerate and complete new phases of its Manila-Cavite Expressway (Cavitex) C5 Link Expressway. The P15-billion project is being built by Cavitex Infrastructure Corporation (CIC), a subsidiary of Metro Pacific Tollways Corp. It aims to cut travel time from Makati and Taguig to Parañaque City, The post Metro Pacific hastens progress on C-5 Link; heavy traffic expected appeared first on Inquirer Business.

  • Updating of intellectual property code pushed
    by clopez on February 24, 2021 at 9:14 pm

    The Intellectual Property Office of the Philippines (IPOPHL) lauded efforts to consolidate bills that aim to amend the country’s intellectual property code, a move toward the law’s much-needed modernization. The consolidation will be undertaken by a Technical Working Group (TWG) created earlier this month by the House Committee on Trade and Industry. The bills being The post Updating of intellectual property code pushed appeared first on Inquirer Business.

  • Hog raisers cool to DA insurance program
    by clopez on February 24, 2021 at 9:12 pm

    Hog raiser groups raised doubts that the government will be able to realize its plan to give commercial hog raisers a 50-percent insurance subsidy, noting the slow pace of claiming indemnity fees. Edwin Chen, president of the Pork Producers Federation of the Philippines, likened the claims process of the Philippine Crop Insurance Corp. (PCIC) to The post Hog raisers cool to DA insurance program appeared first on Inquirer Business.

  • Strong Q4 performance narrows IMI 2020 loss
    by clopez on February 24, 2021 at 9:10 pm

    Ayala-led Integrated Micro-­Electronics Inc. posted record-high revenue in the fourth quarter of 2020 amid a resurgence of global demand and improved operating efficiency, allowing the electronics manufacturing service firm to narrow its net loss for the full year. IMI booked a net loss of $3.5 million for 2020, halving a net loss of $7.78 million The post Strong Q4 performance narrows IMI 2020 loss appeared first on Inquirer Business.

  • PH shares fall to near 4-week low
    by ABS-CBN News on February 24, 2021 at 8:45 pm

    A volatile session on Wall Street triggered a sea of red across most Asian markets.

  • BDO income hits P28.2B in 2020
    by Mayvelin U. Caraballo, TMT on February 24, 2021 at 4:20 pm

    Preemptive positions dragged listed BDO Unibank Inc.’s net income to P28.2 billion last year. In a disclosure on Wednesday, the Sy-led lender said the figure was a 26.19-percent decrease from P44.2 billion in 2019 “due mainly to preemptive provisions of P30.2 billion set aside against potential delinquencies from the [coronavirus] pandemic.” “Th bank relied on

  • Ayala Land profit drops in 2020, raises capex
    by Faye Almazan on February 24, 2021 at 4:19 pm

    Listed Ayala Land Inc. saw its net income sink to P8.7 billion last year on the impact of the coronavirus pandemic on its operations. In a virtual briefing on Wednesday, Ayala Land Chief Financial Officer Augusto Bengzon said the amount was a 74-percent dive from P33.2 billion in 2019. The real estate giant’s consolidated revenues

  • AboitizPower, ACE Medical offers OK’d
    by Faye Almazan on February 24, 2021 at 4:18 pm

    The Securities and Exchange Commission (SEC) said on Wednesday it approved Aboitiz Power Corp.’s (AboitizPower) P30-billion bond offer and Allied Care Experts (ACE) Medical Center-Palawan Inc.’s P1-billion initial public offering (IPO) the day before. In a statement, the commission said Aboitiz Equity Ventures Inc.’s power unit might issue debt securities in one or more series

  • AREIT posts P1.2-B profit in 2020
    by Faye Almazan on February 24, 2021 at 4:17 pm

    Listed AREIT Inc. reported on Wednesday that its net income reached P1.23 billion last year as its operations remained stable during the coronavirus pandemic. In a disclosure, the Ayala-backed real estate investment trust said its revenues rose by 3 percent to P1.95 billion. “Operations remained strong throughout the year. Business resilience, health and safety of

  • IMI revenues reach $347M in Q4, $1.14B in 2020
    by Eireene Jairee Gomez on February 24, 2021 at 4:16 pm

    AYALA-LED Integrated Micro-Electronics Inc.’s (IMI) revenues rose by 12 percent to a $347 million in the fourth quarter of 2020, which it attributed to improved manufacturing efficiency as demand for electronics products continued to rise. For full-2020, revenues reached $1.14 billion while its net loss narrowed to $3.5 million from $7.7 million in 2019. During

  • Deal on P3.75-billion AgriNurture shares struck
    by Eireene Jairee Gomez on February 24, 2021 at 4:15 pm

    AgriNurture Inc. announced on Wednesday that Ocean Biochemistry Technology Research Inc. (OBTI) and Greenergy Holdings Inc. (GHI) had entered into a subscription agreement on the issuance of shares worth P3.75 million. In a disclosure, the listed food producer said OBTI and GHI would issue 37,500 common shares at a par value of P100 each. OBTI

  • Build, build, build, whether it’s needed or not
    by Ben Kritz on February 24, 2021 at 4:14 pm

    Pursuing a political strategy of building infrastructure, even if it is a rather unimaginative chapter in “The Handbook of Mediocre Populism,” is certainly not a bad thing. Infrastructure — roads; rails; ports; airports; electricity and water distribution networks; telecommunications networks; and facilities to provide vital public services, such as government administration, health care and education

  • Focusing on the community
    by Kay Calpo Lugtu on February 24, 2021 at 4:13 pm

    I previously wrote about managing communities and how community commerce, through its many manifestations (e.g., bartering), is paving the way for more community-led engagement and activities. Because of mobility and travel restrictions, many of us are confined to our homes or limited to the vicinity of our residence or office. This has affected the way

  • The BIR’s power to assess
    by Zoe Bryce Amac on February 24, 2021 at 4:12 pm

    The power of taxation is one of the inherent powers of the State and is considered an attribute of sovereignty. Its existence is justified by the so-called lifeblood theory. In Commissioner of Internal Revenue (CIR) v. Algue (GR L-28896, 1988) the Supreme Court held that taxes, as the lifeblood of the government, should be collected

  • US recovery uneven, incomplete – Fed
    by Associated Press on February 24, 2021 at 4:11 pm

    WASHINGTON, D. C.: Federal Reserve Chair Jerome Powell underscored the US economy’s ongoing weakness in remarks that suggested that the Fed sees no need to alter its ultra-low interest rate policies anytime soon. “The economic recovery remains uneven and far from complete, and the path ahead is highly uncertain,” Powell said in written testimony to

  • Century Pacific eyes new plant for vegetarian brand
    by Louella Desiderio on February 24, 2021 at 4:00 pm

    Century Pacific Food Inc. is looking to invest up to P200 million for a production facility for its plant-based food product brand unMEAT.

  • Dito to launch on March 8
    by Richmond Mercurio on February 24, 2021 at 4:00 pm

    Dito Telecommunity Corp. is ready to make its commercial debut on March 8, initially rolling out its services in Mindanao and Visayas.

  • PayMaya’s workplace programs cited by LinkedIn, Anvil Awards
    on February 24, 2021 at 4:00 pm

    Digital financial services leader PayMaya has been cited by global technology firm LinkedIn and the local Anvil Awards for its trailblazing efforts in creating the workplace of the future today amid the challenges brought by the COVID-19 pandemic.

  • Dito entry not a solution to Philippines digital gap
    on February 24, 2021 at 4:00 pm

    The anticipated commercial launch of Dito Telecommunity this year is not expected to close the digital gap between rich and poor cities in the Philippines after the company confirmed in a Senate hearing it would not be able to immediately cover underserved areas with their telco services.

  • Light at the end of a long, long tunnel
    by Rey Gamboa on February 24, 2021 at 4:00 pm

    Everybody now talks with welcome relief about the light at the end of the tunnel, but really, lest we become too overjoyed, that tunnel is going to be a long, long one.

  • Marked fuel taxes reach P192.756 billion
    by Czeriza Valencia on February 24, 2021 at 4:00 pm

    The government has collected P192.756 billion in excise taxes and duties after about a year-and-a half of implementing the fuel marking system.

  • Prices of building materials up in January
    by Louise Maureen Simeon on February 24, 2021 at 4:00 pm

    Retail prices of construction materials in the national capital region accelerated in January, indicating a steady resumption of demand, the Philippine Statistics Authority said.

  • PhilRice notes improved rice production in 2020
    by Catherine Talavera on February 24, 2021 at 4:00 pm

    Interventions implemented by the Department of Agriculture have led to higher rice production last year, the Philippine Rice Research Institute said.

  • Vivant acquires Bukidnon power projects
    by Danessa Rivera on February 24, 2021 at 4:00 pm

    Cebu-based Vivant Corp. is expanding in the Mindanao region with the acquisition of two diesel power plants in Bukidnon for over P430 million.

  • Metal output up 1.13% in 2020
    by Catherine Talavera on February 24, 2021 at 4:00 pm

    The country’s metal production ended 2020 on an upward trajectory, mainly driven by the nickel sector.

  • P741 billion to be spent for Luzon, Mindanao railway projects from 2021 to 2025 - DOTr
    by Nika Lazo, ABS-CBN News on February 24, 2021 at 3:00 pm

    A total of P741.4 billion in capital expenditures (capex) is being set aside for the development of multiple railway projects in Luzon and Mindanao, according to the Department of Transportation (DOTr) on Wednesday.

  • Facebook to invest $1 billion in news industry after Australia row
    by Reuters on February 24, 2021 at 2:38 pm

    Facebook Inc. on Wednesday pledged to invest at least $1 billion in the news industry over the next three years, days after a high-profile stand-off with the Australian government over paying news outlets for content.  

  • EU seeks views on gig workers' rights ahead of new law by year end
    by Foo Yun Chee, Reuters on February 24, 2021 at 1:42 pm

    The European Commission kicked off a public consultation on Wednesday to determine whether to propose a law that would give gig economy workers greater rights as contractors or employees or by being allowed to bargain as a group.

  • P260-M in smuggled cigarettes, rice seized in Bataan
    by tbergonia on February 24, 2021 at 11:02 am

    MANILA, Philippines—The Bureau of Customs (BOC) and law enforcement agents on Tuesday (Feb. 23) seized some P260 million in smuggled cigarettes and rice in Bataan province as the BOC tightened its watch on rampant illicit trade during the pandemic. Finance Secretary Carlos Dominguez III on Wednesday (Feb. 24) said Customs Commissioner Rey Leonardo Guerrero early The post P260-M in smuggled cigarettes, rice seized in Bataan appeared first on Inquirer Business.

  • How to attract good luck into your home
    by ilucas on February 24, 2021 at 9:47 am

    Let’s admit it, one way or another, we want to look into the different ways of attracting luck and good vibes into our home. There’s no harm in trying anyway. If you believe in the principles of feng shui, you’ll know that mirrors are used for enhancing the positive energy in a space. That said, The post How to attract good luck into your home appeared first on Inquirer Business.

  • BDO sees drop in net profit resulting from higher loan loss provision
    by tbergonia on February 24, 2021 at 9:11 am

    MANILA, Philippines—The country’s largest lender, BDO Unibank, saw a 36.2 percent drop in net profit last year to P28.2 billion on larger provisions for probable loan losses set aside during the challenging macroeconomic environment caused by the COVID-19 pandemic. BDO set side loan loss provisions of P30.2 billion for 2020, much larger than the P6.2 The post BDO sees drop in net profit resulting from higher loan loss provision appeared first on Inquirer Business.

  • BSP’s new unit, new deputy chief to push PH shift to digital money
    by racosta on February 24, 2021 at 8:35 am

    MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) recently established a new department tasked with managing the interplay of physical currency and digital money, as the regulator continues to push the country toward the goal of having a “cash-lite” economy in a little over two years’ time. Called the Payments and Currency Management Sector, The post BSP’s new unit, new deputy chief to push PH shift to digital money appeared first on Inquirer Business.

  • Foreign investment pledges fell 71% in 2020
    by racosta on February 24, 2021 at 8:30 am

    MANILA, Philippines — Amid the prolonged Covid-19 pandemic which caused business uncertainty and a recession, foreign investors’ commitments to set up shop in the Philippines fell 71 percent to P112.1 billion in 2020. The foreign pledges approved by seven investment promotion agencies (IPAs) last year dropped from the record-high P390.1 billion, based on the Philippine The post Foreign investment pledges fell 71% in 2020 appeared first on Inquirer Business.

  • 4As Philippines welcomes 2021 Board of Trustees
    by vcatibog on February 24, 2021 at 5:20 am

    The Association of Accredited Advertising Agencies (4As) Philippines has just welcomed its newly inducted Board of Trustees during its first general membership meeting for 2021, which took place over Zoom. TBWA\Santiago Mangada Puno Chairman and Chief Creative Officer Melvin Mangada was sworn in as Chairman, while Grupo Agatep President and Managing Director Norman Agatep, and The post 4As Philippines welcomes 2021 Board of Trustees appeared first on Inquirer Business.

  • Who benefits from rice imports?
    by clopez on February 24, 2021 at 5:00 am

    (Second of two parts) The clear but unexpected winners from the rice tariffication law have been the market intermediaries—the palay traders and millers, wholesalers, retailers, importers and other middlemen who operate between the farmers and the consumers. RTL proponents had theorized that the unimpeded entry of cheap imports would bring down retail prices for consumers. Free The post Who benefits from rice imports? appeared first on Inquirer Business.

  • And the latest TikTok trend is… personal finance
    by nguno on February 24, 2021 at 4:08 am

    Dances and lip-syncs aren’t the only trends on TikTok these days. Now, the Chinese social network is attracting a new breed of influencers offering advice on how best to invest money and boost your personal finances. And their videos are going viral, often drawing millions of views, much to the delight of the influencers — The post And the latest TikTok trend is… personal finance appeared first on Inquirer Business.

  • Filipino builders see construction sector rebound this year
    by vcatibog on February 24, 2021 at 3:54 am

    The Domestic construction industry is poised for a modest rebound this year as the government ramps up its major infrastructure projects and with sustained support for small and medium contractors who were the most affected by the global pandemic. This is the outlook of the Philippine Constructors Association (PCA) which groups not just the highest-rated The post Filipino builders see construction sector rebound this year appeared first on Inquirer Business.

  • Mindanao, Visayas first to use Dito services in March 8 launch
    by dmorcoso on February 24, 2021 at 12:13 am

    MANILA, Philippines — Startup Dito Telecommunity chose Mindanao and Visayas for its March 8 debut—when it begins commercial operations and an ambitious goal to challenge PLDT Inc. and Globe Telecom’s hold on the local telecommunications industry. Dito chief administrative officer Adel Tamano said during a media briefing on Tuesday that users in  Metro Manila and The post Mindanao, Visayas first to use Dito services in March 8 launch appeared first on Inquirer Business.

  • Extended GCQ to delay recovery
    by besguerra on February 23, 2021 at 8:08 pm

    As the Philippines kept existing COVID-19 quarantine restrictions while awaiting mass vaccination to start, its gross domestic product (GDP) would likely grow at a slower pace in the first quarter of 2021 compared to the increase in output during the fourth quarter of 2020. In a statement on Tuesday, Acting Socioeconomic Planning Secretary Karl Kendrick The post Extended GCQ to delay recovery appeared first on Inquirer Business.

  • Poor infra to delay COVID-19 vaccination in rural PH
    by besguerra on February 23, 2021 at 8:07 pm

    Poor infrastructure and the lack of cold storage facilities in the countryside will slow down the Philippines’ vaccination program to inoculate the entire population, the Asian Development Bank (ADB) said on Tuesday. Citing earlier projections from the Economist Intelligence Unit (EIU), the ADB said in a report that it would take the Philippines up to The post Poor infra to delay COVID-19 vaccination in rural PH appeared first on Inquirer Business.

  • Unified supervision framework for local fintechs readied
    by besguerra on February 23, 2021 at 8:04 pm

    The country’s financial regulators, led by the Bangko Sentral ng Pilipinas (BSP), have agreed to come up with a unified monitoring and supervision scheme for the local financial technology industry without stifling these firms’ new and creative ideas. In a statement, the central bank said a memorandum of agreement was recently signed under the auspices The post Unified supervision framework for local fintechs readied appeared first on Inquirer Business.

  • Bargain hunting shores up index
    by besguerra on February 23, 2021 at 8:03 pm

    The local stock barometer ended a tad higher on Tuesday on selective picking of large-cap stocks by bargain-hunters. The main-share Philippine Stock Exchange index (PSEi) added 4.33 points, or 0.06 percent, to close at 6,814.67. “The PSEi managed to end the session with miniscule gains, thanks to last-minute buying, despite suffering losses in early trading. The post Bargain hunting shores up index appeared first on Inquirer Business.

  • P3-B capital infusion into SB Finance OKd
    by besguerra on February 23, 2021 at 8:02 pm

    Security Bank and Thailand’s Bank of Ayudhya have jointly approved a P3-billion fresh capital infusion into their local joint venture, SB Finance, putting the consumer financing arm in a better position to ride on the country’s economic recovery. SB Finance will issue 25.85 million new common shares that will be evenly split between Security Bank The post P3-B capital infusion into SB Finance OKd appeared first on Inquirer Business.

  • Coca-Cola expanding PH operations
    by besguerra on February 23, 2021 at 8:02 pm

    Coca-Cola Philippines will invest at least P3 billion in a capacity expansion plan for its Philippine production facilities after domestic sales managed to outperform global sales in 2020 despite the COVID-19 induced crisis. Company officials announced on Tuesday that its bottling arm would initially shell out $63 million, or about P3.06 billion, to expand its The post Coca-Cola expanding PH operations appeared first on Inquirer Business.

  • How do companies create shareholder value?
    by besguerra on February 23, 2021 at 8:01 pm

    Warren Buffett once said that the best business to own was the one that could employ large amounts of incremental capital at very high rates of return over an extended period of time. Companies with high rates of return enjoy high stock price valuations, presumably because their returns on investments are greater than their cost The post How do companies create shareholder value? appeared first on Inquirer Business.

  • JG Summit invests in South African digital bank
    by besguerra on February 23, 2021 at 8:00 pm

    Gokongwei-led JG Summit Holdings has expanded its fintech footprint by investing in South Africa-based digital bank Tyme, which is now looking at opportunities in Southeast Asia. Through its corporate venture capital vehicle, JG Digital Equity Ventures (JGDEV), the Gokongwei group took part in an estimated P5.3-billion investment in Tyme, along with Apis Growth Fund II, The post JG Summit invests in South African digital bank appeared first on Inquirer Business.

  • Treasury to raise P160 billion from T-bills, bonds in March
    by tbergonia on February 23, 2021 at 11:07 am

    The Bureau of the Treasury will offer P160 billion in T-bills and bonds in March to take advantage of flushing domestic liquidity even as yields were expected to rise alongside US treasuries. In a memorandum to all government securities eligible dealers (GSEDs) on Tuesday (Feb. 23), National Treasurer Rosalia de Leon said P20 billion each The post Treasury to raise P160 billion from T-bills, bonds in March appeared first on Inquirer Business.

  • Rice tariffication: A litany of broken promises
    by clopez on February 23, 2021 at 10:29 am

    (First of two parts) The rice tariffication law (RTL) was born on Feb. 14, 2019 when President Rodrigo Duterte signed it, promising a host of benefits for consumers and gains for the economy. Removing quantitative restrictions, or limits in volume, on rice imports had been touted to significantly reduce prices that consumers, particularly the poor, The post Rice tariffication: A litany of broken promises appeared first on Inquirer Business.

  • PH economic recovery seen slowing without easing of COVID-19 quarantine, crawling vaccination...
    by tbergonia on February 23, 2021 at 8:42 am

    MANILA, Philippines—The Philippine economy was projected to grow at a slower pace in the first quarter of 2021, compared to an increase in output in the fourth quarter of 2020, as a result of a decision to keep in place current COVID-19 quarantine restrictions until an elusive mass vaccination is rolled out. In a statement The post PH economic recovery seen slowing without easing of COVID-19 quarantine, crawling vaccination program appeared first on Inquirer Business.

  • Analysis: How rich is Saudi Arabia? Kingdom does the math in balance sheet overhaul
    by dlejano on February 23, 2021 at 8:31 am

    DUBAI —  Saudi Arabia wants to demystify its finances. The kingdom is working on creating a consolidated balance sheet of its assets and liabilities which will include items currently kept off the oil-rich economy’s books, including the investments and debts of its powerful sovereign wealth fund. “The main purpose of this program is to have a The post Analysis: How rich is Saudi Arabia? Kingdom does the math in balance sheet overhaul appeared first on Inquirer Business.

  • PH financial regulators eye unified supervision framework for local fintechs
    by clopez on February 23, 2021 at 7:53 am

    MANILA, Philippines — The country’s financial regulators, led by the Bangko Sentral ng Pilipinas (BSP), have agreed to come up with a unified monitoring and supervision scheme for the local financial technology industry without stifling these firms’ new and creative ideas. In a statement, the central bank said a memorandum of agreement was recently signed under The post PH financial regulators eye unified supervision framework for local fintechs appeared first on Inquirer Business.

  • ADB: Poor infrastructure seen to slow Covid-19 vaccination in rural PH
    by clopez on February 23, 2021 at 7:44 am

    MANILA, Philippines — Poor infrastructure and the lack of cold storage facilities in the countryside would slow down the Philippines’ vaccination program, which targets to inoculate the entire population by 2023, the Asian Development Bank (ADB) said Tuesday. Citing earlier projections from the Economist Intelligence Unit (EIU), ADB said in a report that it would The post ADB: Poor infrastructure seen to slow Covid-19 vaccination in rural PH appeared first on Inquirer Business.

  • Alfamart expands to Zambales with Olongapo branch opening
    by vcatibog on February 23, 2021 at 6:13 am

    Alfamart, the first and only Super Minimart chain in the Philippines, recently opened a new store in SM City Olongapo, Zambales. According to Alfamart Philippines COO Harvey Ong, it represents a milestone in the brand’s Northern expansion.  “Our goal has always been to receh more underserved communities, to provide them with a convenient and affordable The post Alfamart expands to Zambales with Olongapo branch opening appeared first on Inquirer Business.

  • SMC to spend close to P1B to inoculate all 70,000 employees
    by postie on February 23, 2021 at 5:31 am

    MANILA, Philippines — To protect all its employees from getting infected with Covid-19, San Miguel Corporation (SMC) on Tuesday announced that it will be spending close to P1 billion for vaccines to inoculate all of its 70,000 employees and extended workforce for free. In a statement, the country’s largest food and beverage conglomerate, interest said The post SMC to spend close to P1B to inoculate all 70,000 employees appeared first on Inquirer Business.

  • Gov’t keeps tight watch on pork imports
    by besguerra on February 22, 2021 at 8:11 pm

    While allowing more pork imports in a bid to arrest elevated domestic prices caused by a supply lack, Finance Secretary Carlos Dominguez III has ordered the Bureau of Customs (BOC) to be on the lookout for smugglers who might take advantage of lower import duties. In a statement Monday, the Department of Finance (DOF) said The post Gov’t keeps tight watch on pork imports appeared first on Inquirer Business.

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