Officials have recognized the African Swine Fever continues to push pork prices higher this month. — PHILIPPINE STAR/MICHAEL VARCAS INFLATION is expected to stay within the target range over the next two years, despite a recent uptick in global oil prices as well as food prices due to supply disruptions caused by typhoons, the central […]
THE PHILIPPINES is likely to benefit from a more stable world economy and subdued geopolitical tensions after United States President Joseph R. Biden, Jr. took office on Wednesday. In his inauguration speech, Mr. Biden offered a message of reconciliation, as the United States looks to restore alliances around the world (Related story on S2/8 ). […]
THE MSCI Emerging Markets Index has now gained more than 9% this year — REUTERS EMERGING-MARKET STOCKS have set a new swath of record highs this week, driven by optimism over additional US stimulus and a dovish Federal Reserve. The rally’s gaining momentum even as some technical indicators are showing a pullback is overdue. The […]
FILINVEST Land, Inc. is set to transform its subsidiary Cyberzone Properties, Inc. into a real estate investment trust (REIT) company to fully realize the value of its leasing business. In a statement on Thursday, Filinvest said its board of directors approved the transition of Cyberzone into a REIT company that will be listed on the […]
DISCOVERY WORLD Corp. has increased its subscription in four subsidiaries in a move to create opportunities for the company’s resort business. In four separate disclosures on Thursday, Discovery World announced the decision of its executive committee to increase the company’s subscription in its subsidiaries, namely: Palawan Cove Corp., Lucky Cloud 9 Resort, Inc., Balay Holdings, […]
GLOBAL streaming service Netflix closed 2020 with an additional 37 million paying subscribers above company and analysts forecasts, with its executives reporting in the earnings report that the service is “very close to being sustainably free cash flow positive.” After slowing down in the third quarter of 2020 by adding 2.2 million subscribers, lower than […]
FINANCIAL PLAYERS backed by large firms or with an established presence looking to enter the Philippine market are expected to thrive and could pose a threat to more traditional smaller lenders here, a debt watcher said. “We believe that aspiring entrants that already have extensive customer base or are backed by corporates with strong firepower […]
THE Philippine Chamber of Commerce and Industry (PCCI) on Thursday launched a center for technology education and entrepreneurship. The business chamber partnered with Huawei Technologies Co. Ltd. for the innovation center, which will be the venue for teaching artificial intelligence, robotics, coding, big data analysis, Internet of Things, satellite internet connectivity, and blockchain. The center […]
AFTER partnering with Zoe Broadcasting Network to create the A2Z channel to broadcast several of its shows, ABS-CBN is once again branching out and will start showing musical variety show ASAP Natin ‘To and the FPJ: Da King movie block on TV5 starting Jan. 24. The announcement was made on Jan. 21 after months of […]
REUTERS/THOMAS WHITE/ILLUSTRATION By Charmaine A. Tadalan, Reporter THE Philippines is likely to avoid being “gray-listed” by the Financial Action Task Force (FATF) as it is on track to meet the Feb. 1 deadline to implement a stricter law against money laundering. The amendments to the Anti-Money Laundering Act (AMLA) will immediately take effect once it […]
THE TRADE department revised its export targets for this year and 2022 to reflect the extent of the impact of the coronavirus pandemic and sluggish global demand. “In this revised set of targets, we will reach $105 billion by 2022, but still growing from $91.7 billion in 2021,” Trade Secretary Ramon M. Lopez said in […]
BUSINESSES are preparing for recovery this year on hopes of a further easing of lockdown restrictions and the rollout of the coronavirus disease 2019 (COVID-19) vaccine, but restoring consumer confidence remains a challenge. SM Supermalls President Steven Tan said 2021 is expected to be a “year of recovery” after the pandemic battered the retail industry […]
By Luz Wendy T. Noble, Reporter EMERGING MARKETS such as the Philippines will continue to face credit risks this year, as the central bank is likely to lift regulatory relief measures and the loan payment moratorium expires, S&P Global Ratings said. At the same time, Bangko Sentral ng Pilipinas (BSP) Deputy Governor Chuchi G. Fonacier […]
THE CORONAVIRUS has exposed the “catastrophic effects” of ignoring long-term risks such as pandemics, and the economic and political consequences could cause more crises for years to come, according to the World Economic Forum (WEF). The WEF’s annual survey of global risks lists infectious disease and livelihood crises as the top “clear and present dangers” […]
MAKATI SHANGRI-LA Hotel will be temporarily closing down operations starting next month as it yields to financial pressures caused by the lockdown. The Shangri-La Group said in a statement on Wednesday that the company will be reorganizing its Philippine workforce and operations. It did not announce the length of the closure. The luxury hotel operating […]
By Angelica Y. Yang SIX suppliers of renewable energy, including entities led by Aboitiz and Ayala businesses, have been granted permits to participate in the country’s “green energy option” program, giving them the lead in offering electricity to consumers who prefer cleaner power sources. On Wednesday, the Department of Energy (DoE) posted on its website […]
NEWLY listed fiber internet provider Converge ICT Solutions, Inc. announced on Wednesday the appointment of its two new executives, who are expected to raise the company’s “organizational standards of governance, stakeholder relations, and risk management.” In a disclosure to the stock exchange, the company named Owen Kieffer Ocampo as investor relations director and Anthony Vergel […]
THE Energy Regulatory Commission (ERC) has enlisted the services of consulting firm Reyes Tacondong & Co. to audit the electric cooperatives (ECs) on the use of funds for their capital expenditures, in a bid to complement the commission’s evaluation efforts, the regulator said on Wednesday. In a press release, the ERC said that it has […]
YIELDS ON term deposits auctioned off by the Bangko Sentral ng Pilipinas (BSP) on Wednesday continued to fetch lower yields as the central bank signaled it could lend more funds for the government’s pandemic response. Total bids for the central bank’s term deposit facility (TDF) reached P756.711 billion yesterday, higher than the P570-billion offering as […]
LOCAL telecommunications company Smart Communications has named K-pop boy group BTS as its newest endorser, continuing its trend of having popular Korean celebrities as brand ambassadors. Prior to the announcement, Manny V. Pangilinan, chairman of the company, posted a cryptic Facebook post saying, “You asked for it, we’re giving it to you. Watch out for […]