MAX’S Group, Inc. reported that its first-quarter earnings fell by 88% to P42 million from P337 million amid lockdown restrictions. “We are very excited with our first quarter results despite the January lockdown, as they gave us indication of the shape of what’s to come for Max’s Group. We have not experienced a full quarter […]
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Nine of nine ABAP boxers in SEAG semis
ALL nine Filipino boxers who were registered in the boxing competitions in the 31st Southeast Asian Games (SEAG) being held in Bac Ninh province in Vietnam are in the semifinal round of the competitions. They are all assured of at least a bronze medal and if they succeed in their matches on Thursday and Friday, […]
Tom Cruise swoops into Cannes, igniting film festival with jets and star power
CANNES, France — Tom Cruise rolled into the Cannes Film Festival on Wednesday — jet planes in tow — cranking up festivities with action, star power and autograph signings on the red carpet. Fans greeted him with whoops and hollers and the French Air Force aerobatic team Patrouille de France flew overhead, spraying the sky […]
High Court affirms canceled tax assessment on First Gas
THE Supreme Court (SC) has affirmed the cancellation of the tax assessment on First Gas Power Corp. for the calendar year 2000 worth P37 million, and tax liabilities for 2001 worth P82.4 million. In a ruling on Feb. 15 and made public on May 16, the High Court reiterated the Court of Tax Appeals (CTA) […]
BPI sets P100-B bond program
BANK of the Philippine Islands (BPI) has approved a new P100-billion bond program to help diversify its funding sources and boost its sustainability drive. During a regular meeting held on May 18, BPI’s board approved the issuance of up to P100 billion in notes under its new peso-denominated bond and commercial paper program. “The objective […]
Laylo, Bersamina capture silver medal
THE Philippines will not be going home empty-handed in chess for the second Southeast Asian Games edition. Grandmaster Darwin Laylo and International Master (IM) Paulo Bersamina delivered the country’s first medal in the sport after snatching a silver medal in the men’s rapid team event. The Filipinos drew with the Vietnamese, 1-1, to claim the […]
Cisco study finds 92% in Philippines prefer hybrid work arrangements
TECHNOLOGY company Cisco Systems, Inc. said its research has indicated a 92% preference for hybrid work in the Philippines, saying that technology has established itself as an enabler of alternative work configurations, though it called for such arrangements to be supported by “end-to-end security.” “Ninety-two percent of Filipino respondents are happier working from anywhere,” Cisco […]
Michelangelo ink drawing fetches €23 million in Paris sale
An ink drawing of a nude man by Michelangelo — CHRISTIES.COM PARIS — An ink drawing of a nude man by Michelangelo sold for more than €23 million ($24.17 million) at auction in Paris on Wednesday, auction house Christie’s said. The work had been designated a French national treasure, which barred it from being exported […]
Cebu Pacific to resume int’l flights from Cebu hub starting with Seoul flights
BUDGET carrier Cebu Pacific (CEB) announced on Thursday the resumption of its international flights from Mactan Cebu International Airport in Cebu, starting with flights to South Korea in July. Following the reopening of South Korea to visitors, the airline’s Cebu hub will resume international service to South Korea as its first destination hub, Cebu Pacific […]
BSP proposes guidelines for sustainable investing
THE BANGKO SENTRAL ng Pilipinas (BSP) is proposing guidelines for banks’ integration of sustainability principles in their investment activities. “These guidelines are being issued to set expectations on the prudent conduct of investment activities and the minimum practices that a BSP-supervised financial institutions should establish for the management and control of risks associated with investments,” […]
Peso weakens on hawkish Fed, fears over cases of subvariant
THE PESO declined against the dollar on Wednesday as the US Federal Reserve’s chief said they could raise rates more aggressively to curb rising inflation. — BW FILE PHOTO THE PESO weakened versus the greenback on Wednesday as the US Federal Reserve chief said they could tighten rates more aggressively to control rising inflation and […]
Shares rise as market expects BSP to hike rates
THE MAIN INDEX surged on Wednesday as investors bought shares ahead of the Bangko Sentral ng Pilipinas (BSP) policy meeting on Thursday, where analysts expect a rate hike to combat inflation. The benchmark Philippine Stock Exchange index (PSEi) climbed by 132.94 points or 2.01% to close at 6,727.60 on Wednesday, while the broader all shares […]
China’s Xi seeks stronger ties under Marcos rule
CHINESE President Xi Jinping on Wednesday spoke with presumptive Philippine President Ferdinand R. Marcos, Jr. on the phone and called him “a builder, supporter and promoter” of friendship between the two neighbors, according to the Chinese Embassy in Manila. The two leaders had a phone conversation where the Chinese leader congratulated Mr. Marcos for his […]
Action star Padilla tops Senate race with 26.6M votes
TWELVE familiar faces are officially joining the 24-member Philippine Senate, the Commission on Elections (Comelec) said on Wednesday. Action star Robinhood Ferdinand “Robin” C. Padilla topped the race with 26.6 million votes, according to official results. Close behind was Antique Rep. Lorna Regina “Loren” B. Legarda with 24.3 million votes, followed by TV journalist Rafael […]
Duterte gets 95% score in drug war from Interior dep’t
NINE of 10 deaths in President Rodrigo R. Duterte’s war against illegal drugs did not involve police foul play, according to the Department of Interior and Local Government (DILG). More or less 95% of the deaths were “within the bounds of the law,” Interior Undersecretary Epimaco V. Densing III told the ABS-CBN News Channel on […]
SC asked to stop Marcos proclamation
MARTIAL Law victims on Wednesday asked the Supreme Court (SC) to stop lawmakers from counting the votes for Ferdinand “Bongbong” R. Marcos, Jr., who is set to win by a landslide in this year’s presidential race. In a 49-page petition, the Campaign Against the Return of the Marcoses asked the tribunal to stop the proclamation […]
Marcos seen having free hand to pursue Constitutional reforms
LEADING presidential vote-getter Ferdinand R. Marcos, Jr. has no political debts that would tie his hands in pursuing Constitutional reforms, with a reversal of the current government’s policy direction seen as only the “worst-case scenario,” the Foundation for Economic Freedom (FEF) said. “A BBM presidency is not invested in the 1987 Constitution and the CARP […]
BIR to inspect ecozone BPOs’ compliance with on-site work rules
THE Bureau of Internal Revenue (BIR) said it formed a task force to inspect compliance with the government’s order to resume on-site work for economic zone locators in the Information Technology-Business Process Management (IT-BPM) industry. In a statement on Wednesday, BIR Deputy Commissioner Arnel SD. Guballa said that mission orders have been issued authorizing inspections […]
Coordinating panel proposed in draft IRR for Foreign Investment Act
THE National Economic and Development Authority (NEDA) said its latest draft implementing rules and regulations (IRR) for amendments to the Foreign Investments Act of 1991 calls for the creation of a committee to coordinate efforts to attract foreign investment. NEDA released the new draft at a public consultation on Wednesday. The revised draft IRR, dated […]
DENR to watch Tampakan closely after province lifts open-pit ban
THE Department of Environment and Natural Resources (DENR) said it will closely monitor the Tampakan open-pit copper-gold project in South Cotabato to ensure its compliance with rules protecting the environment. “The environment will not be sacrificed. We will see to it that the soon-to-commence Tampakan copper-gold project will be strictly monitored in compliance with applicable […]