UNIONBANK of the Philippines, Inc. unveiled a one-stop app for micro-, small-, and medium-sized enterprises (MSMEs) where they can manage their financial operations digitally as businesses move forward in the “new normal.” The app will help the bank achieve its “moonshot goal” to serve a million MSMEs, UnionBank President and Chief Executive Officer Edwin R. […]
Category: Hot News
Concentrix readies vaccination plan for staff nationwide
OUTSOURCING firm Concentrix Philippines plans to offer coronavirus disease 2019 (COVID-19) vaccinations to its 100,000 staff nationwide. The company has put in an initial order of 50,000 doses from pharmaceutical firm AstraZeneca, half of which will be donated to priority sectors identified by the government. The AstraZeneca vaccine was found to have an efficacy rate […]
Filipinos’ share of food costs to take-home minimum wage rises despite wage increases
How PSEi member stocks performed — January 19, 2021
Here’s a quick glance at how PSEi stocks fared on Tuesday, January 19, 2021.
Security Bank plans to open seven branches this year
SECURITY BANK Corp. is planning to open at least seven new branches across the country this year after adding four offices to its network in 2020 amid the coronavirus pandemic. “Despite the transition to digital banking, we still recognize the importance of branches in making our services accessible to different areas. Through our continued push […]
Stream weavers: The musicians’ dilemma in Spotify’s pay-to-play plan
Spotify offered the promise that, in the age of digital downloads, all artists would get paid for their music, and some would get paid a lot. Lorde and Billie Eilish showed what was possible. Lorde was just 16 when, in 2012, she uploaded her debut EP to SoundCloud. A few months later, Sean Parker (of […]
PCC clears Scatec Solar’s 100% acquisition of shares in SN Power
THE Philippine Competition Commission (PCC) said it recently approved the acquisition by Scatec Solar ASA, a Norwegian renewable energy company, of 100% shares in SN Power AS. In an e-mailed statement, the commission said its Mergers and Acquisitions Office found that the transaction between Scatec Solar and SN Power “does not result in substantial lessening […]
Entertainment News (01/19/21)
1 of 2 Filipino-Australian artist Bryan Estepa New series The Lost Recipe drops on GMA News TV BEGINNING Jan. 18, GMA News TV’s drops its first locally produced daily primetime show, The Lost Recipe, a series headlined by Mikee Quintos and Kelvin Miranda. The latest GMA Public Affairs offering features the story of Harvey (Miranda), […]
Suntrust Properties teams up with Ohmyhome
SUNTRUST PROPERTIES, Inc. (SPI) has partnered with property technology company Ohmyhome, as it looks to attract more homebuyers. “This partnership attests to our commitment to provide an easier, safer, and more convenient home buying experience for Filipino families looking to buy their dream homes,” SPI President Harry M. Paltongan said in a statement. Ohmyhome, a […]
BSP launches commemorative Lapu-Lapu banknote, medal
1 of 2 PHOTO CREDIT: BANGKO SENTRAL NG PILIPINAS PHOTO CREDIT: BANGKO SENTRAL NG PILIPINAS THE CENTRAL BANK on Monday launched a commemorative, non-circulation P5,000 banknote and medal featuring pre-colonial hero Lapu-Lapu to kick off the 99-day countdown to the 500th anniversary of the “Victory at Mactan.” “The new banknote shall feature the portrait of […]
Philippine peso is 47.8% undervalued against the US dollar
How PSEi member stocks performed — January 18, 2021
Here’s a quick glance at how PSEi stocks fared on Monday, January 18, 2021.
EastWest vows to ‘promptly return’ depositors’ lost money
East West Banking Corp. (EastWest Bank) will “promptly return” the money of its two depositors believed to have been taken by a missing branch manager. “We confirm that a branch manager of EastWest Bank has gone missing,” the Gotianun-led bank said in a disclosure to the local bourse on Monday. The lender last week confirmed […]
Stocks extend drop on profit taking, virus worries
By Revin Mikhael D. Ochave, Reporter LOCAL SHARES ended lower on Monday as investors engaged in profit taking and amid a lack of positive catalysts for the market. The 30-member Philippine Stock Exchange index (PSEi) declined for a second straight day, dropping 35.02 points or 0.48% to close at 7,203.44, while the broader all shares […]
Peso slips vs dollar
THE PESO weakened against the greenback on Monday as the market repositioned ahead of US President-elect Joseph R. Biden.’s first day in office. The local currency inched down by one centavo to P48.075 versus the dollar on Monday from its P48.065 finish on Friday, based on the data from the Bankers Association of the Philippines. […]
LRT-1 Cavite Extension more than halfway complete, Transport dep’t says
THE Transportation department said the first phase of the Cavite extension project of Light Rail Manila Corp. (LRMC), operator of Light Rail Transit Line 1 (LRT-1), is now more than half complete. “The LRT-1 Cavite Extension Project is now more than halfway to completion of the partial operability section until Sucat Station, as we report […]
Executive branch may not certify economic reform bills as urgent
By Kyle Aristophere T. Atienza THE ADMINISTRATION is focused on delivering the needed fiscal boost for the economic recovery and may not certify as urgent a number of economic reform bills pending in Congress, the President’s spokesman Herminio L. Roque said. At a televised briefing, Mr. Roque said the reform bills that are not on […]
PHL migrant population growth among world’s top 5 in past 20 years — UN
THE GROWTH in the Philippines’ migrant population was the fifth-largest between 2000 and 2020, behind India, Syria, Venezuela and China, according to a study conducted by the United Nations (UN). “Between 2000 and 2020, the size of the migrant population abroad grew for nearly all countries and areas of the world. India experienced the largest […]
Mounting bill for Malaya plant upkeep forces PSALM to seek negotiated sale
THE Power Sector Assets and Liabilities Management Corp. (PSALM) will seek approval to pursue a negotiated sale for the 650-megawatt Malaya Thermal Power Plant, citing unsustainable maintenance costs and following years of failed auctions to dispose of the rarely-used facility, the Department of Energy (DoE) said. “PSALM shall proceed and get Board approval to immediately […]
Extended ‘lifeline’ power subsidy for poor passes on 3rd reading in Senate
A MEASURE extending until 2031, the lifeline power rate subsidy granted to low-income households was approved in the Senate on third and final reading Monday. With 19 affirmative votes, zero negative and one abstention, the chamber passed Senate Bill No. 1877 which proposes to amend Republic Act No. 9136, the Electric Power Industry Reform Act […]