JOHN LE CARRE — KRIMIDOEDEL/EN.WIKIPEDIA.ORG LONDON — John le Carre, the British novelist who cast flawed spies onto the bleak chessboard of Cold War rivalry, was so disillusioned by the 2016 Brexit vote to leave the European Union that he secured Irish citizenship shortly before he died. David Cornwell, known to the world as John […]
Will this harvest of foreign exotics soon make its way into the country? THE PREVIOUS months may have reflected a significant decrease in overall car sales due to the pandemic, but most car manufacturers have not slowed down in churning out new models to tease the appetite of hopeful motorists. So, what new, innovative cars […]
By Keren Concepcion G. Valmonte THE real estate arm of SOCResources, Inc., SOC Land Development Corp., plans to launch and begin constructing the second tower of its four-tower condominium project in Muntinlupa CIty. “We did very well the moment the [quarantine] restrictions were lifted, that is why our second tower is 70% sold,” Edgardo P. […]
COCONUT FARMERS need to play a bigger role in determining the distribution of benefits resulting from Republic Act No. 11524 or the Coconut Farmers and Industry Trust Fund Act, an agricultural organization said. The Federation of Free Farmers (FFF) said in a statement that it proposed the creation of a farmers’ advisory council to advise […]
Philippine President Rodrigo R. Duterte extended the stringent lockdown enforced in the country’s capital and nearby provinces until April 11, in an attempt to curb a renewed spike in coronavirus infections. The Health department on Saturday reported 12,576 new coronavirus disease 2019 (COVID-19) cases, putting the healthcare system under a further strain. The implementation of […]
CREDIT extended by big lenders continued to shrink for a third straight month in February despite faster liquidity growth, reflecting that risk aversion and dampened demand amid the pandemic. Outstanding loans by universal and commercial banks dropped 2.7% to P8.936 trillion in February from a year earlier, preliminary data from the Bangko Sentral ng Pilipinas […]
THE central bank continues to see inflation breaching the target range in March, as oil prices rose and the peso weakened against the US dollar. Headline inflation during the month likely settled within 4.2% to 5%, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said in a Viber message to reporters. This is still […]
Senior citizens line up to receive COVID-19 vaccines at the Emilio Aguinaldo Elementary School in Cubao, Quezon City, March 31, 2021. — PHILIPPINE STAR/ MICHAEL VARCAS By Beatrice M. Laforga, Reporter THE ASEAN+3 Macroeconomic Research Office (AMRO) expects the Philippine economy to expand at a slower pace this year than what was previously estimated due […]
A view of residential condominium buildings in Mandaluyong, Metro Manila, Aug. 22, 2016. — REUTERS By Luz Wendy T. Noble, Reporter PHILIPPINE BANKS are still facing risks from a prolonged weakness in the property market, Fitch Ratings said. “Fitch remains watchful of any signs of an undue rise in banks’ risk appetite when the economy recovers, […]
JG SUMMIT Holdings, Inc. incurred a consolidated net loss of P468 million last year, a reversal of its P31.3-billion net income in 2019, as it took into account nonrecurring fuel hedging losses and a one-off impairment charge from its utility investment Manila Electric Co. “Coming from a very strong 2019, COVID-19 (coronavirus disease 2019) has […]
ALL financing and lending institutions are now covered by the Securities and Exchange Commission’s (SEC) guidelines on anti-money laundering (AML) and combating the financing of terrorism (CFT). The SEC released on Tuesday the 2020 guidelines on the submission and monitoring of the Money Laundering and Terrorist Prevention Program (MTPP). The commission said: “There is a […]
ENRIQUE K. Razon, Jr. will “vigorously oppose” Global Gaming Asset Management (GGAM) Philippines in a lawsuit filed against the billionaire businessman in a New York (NY) federal court earlier this week, a listed company chaired by him said on Wednesday. “Mr. Razon (and the companies associated with him) will vigorously oppose this shameless GGAM forum […]
THE Securities and Exchange Commission (SEC) said the amended guidelines issued by an interagency task force do not extend the grace period on loan payments set under a law to combat the pandemic. The corporate watchdog released the advisory to clarify the non-extension of the moratorium on loan payments to financing companies (FCs), lending companies […]
AYALA CORP. will use the net proceeds from the P6-billion first tranche of its proposed debt securities worth up to P30 billion to repay short-term loans and to fund its capital expenditure. According to the prospectus Ayala sent to the Securities and Exchange Commission on Tuesday, some P4.9 billion will be used to finance the […]
DENNIS A. Uy-led Phoenix Petroleum Philippines, Inc. said on Wednesday that local volume sales slid by 20% last year, with fourth-quarter sales cushioning the fall. In a press release, Phoenix said that its domestic volume sales from October to December rebounded by 32% quarter on quarter, which “eased the firm’s full-year decline.” Local sales of […]
FACEBOOK.COM/MARCELOTOLEDOSILVERSMITH BUENOS AIRES — Marcelo Toledo usually creates sculptures and jewelry out of metal. Now the Argentine artist is working with a new material: waste masks and syringes from the coronavirus disease 2019 (COVID-19) pandemic to create an exhibition exploring the painful impact of the virus. Mr. Toledo, who has made jewelry for the musical […]
INSURANCE TECHNOLOGY startup Kwik.insure has launched an online platform where users can compare and select products for their personal needs. The firm tied up with local insurance firms including Sun Life Philippines and Malayan Insurance Co. to offer a wide range of products for Filipinos. “Filipinos are now used to shopping online so we patterned […]
By Patricia B. Mirasol THERE IS “low quality of evidence” that ivermectin can be used to prevent or treat coronavirus disease 2019 (COVID-19), according to recommendations from the University of the Philippines Manila’s Institute of Clinical Epidemiology, the Philippine Society for Microbiology and Infectious Diseases (PSMID), and the Department of Science and Technology’s Philippine Council […]
FILINVEST LAND, Inc. (FLI) posted a 41% fall in net income attributable to equity holders to P3.73 billion in 2020, which its top official described as a year when the listed property developer faced a “formidable opponent.” “Filinvest is no stranger to crises as we have weathered several economic and political upheaval in the past. […]
LOS ANGELES — Stage costumes worn by pop group Destiny’s Child at the height of their fame are hitting the auction block in June, along with gowns belonging to Lady Gaga, Whitney Houston and Cher. Julien’s Auctions said on Monday that it was selling more than 100 lots of costumes owned and used by Destiny’s […]