Max’s Group profit down 88%

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 […]

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 […]

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,” […]

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 […]

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 […]