Home 2018 October 2

Daily Archives: October 2, 2018 | 11:48 am

Facebook taps ‘News Feed’ head to run Instagram after founders leave

By Bloomberg Instagram has a new boss: Adam Mosseri, who led Facebook Inc.’s news feed team for many years. Mosseri takes on one of Facebook’s fastest-growing properties...

Today in global market news

By Bloomberg It took a while to get there, but the U.S., Canada and Mexico have struck a revised trade deal. Meanwhile, oil reached the highest...
car automobile assembly line

PHL regains ASEAN factory lead

IMPROVEMENT of Philippine manufacturing activity remained “modest” in September, according to a monthly survey IHS Markit conducted for Nikkei, Inc., but “robust” domestic consumption, a “solid” rise in new orders and “upbeat business confidence” offset muted foreign demand and “strong” inflation to propel the country back to fore among major economies of the Association of Southeast Asian Nations (ASEAN).

ASEAN manufacturing purchasing managers’ index, September (2018)

IMPROVEMENT of Philippine manufacturing activity remained “modest” in September, according to a monthly survey IHS Markit conducted for Nikkei, Inc., but “robust” domestic consumption,...
peso dollar bills

Fitch Solutions sees continuing peso weakness

THE PESO’S WEAKNESS is likely to persist amid external headwinds, Fitch Solutions Macro Research said, even as robust domestic growth and a hawkish monetary policy should help buoy the local currency.
forfeited goods

Customs tops collection target for 8th straight month

THE BUREAU of Customs (BoC) surpassed its collection target for the eighth straight month in September, Commissioner Isidro S. Lapeña told lawmakers in the House of Representatives on Monday.

Lea: 40 years of entertaining — and winning

AWARD-WINNING singer and actress Lea Salonga (real name: Maria Lea Carmen I. Salonga) is celebrating the 40th anniversary of her career with a two-night, sold-out concert at the Philippine International Convention Center (PICC) Plenary hall on Oct. 19 and 20.

Ayala to introduce Maxus vehicles in PHL

THE industrial technology arm of Ayala Corp. (AC) is bringing Chinese auto brand Maxus to the Philippines, with vehicle sales set to commence in the first quarter of 2019.

Aging Japan: Manga comics turn gray — but spirited — along with readers

TOKYO — Japan’s graying population is changing the character of its beloved manga comics, spawning a new genre in which the elderly aren’t pitiable oldsters but protagonists making discoveries, finding friends and sometimes even having hot sex.

Gokongwei-led URC ends partnership with ConAgra

UNIVERSAL Robina Corp. (URC) is buying out its American partner for Hunt-Universal Robina Corp. (HURC), ending its 35-year-old partnership with the company while still keeping the licensing agreement for its products.


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CNN founder Ted Turner says he’s suffering a form of dementia

LOS ANGELES — Ted Turner, the billionaire founder of cable news channel CNN, says he is suffering from a form of dementia that leaves him exhausted and forgetful.

Megawide approves P2-B share buyback program

MEGAWIDE Construction Corp. on Monday said it will be buying back P2 billion worth of shares from the stock exchange in the next two years.

Fox is said to plan PG-13 version of Deadpool 2 for holidays

DEADPOOL, the famously foul-mouthed superhero, may be losing his edge.

Yuchengco, Ayala groups approve merger of education businesses

THE Ayala and Yuchengco groups have approved the merger of their education businesses valued at around P15.5 billion, with listed firm iPeople, Inc. to be the surviving entity.

Led Zeppelin must face new trial claiming it stole ‘Stairway’ riff

LED ZEPPELIN was ordered by a US appeals court to face a new trial over whether it stole the opening guitar riff for its 1971 anthem “Stairway to Heaven” from an obscure instrumental written four years earlier.
Seda Nuvali

Seda Nuvali expanding with 2nd tower to open by 2020

AYALA LAND Hotels and Resorts Corp. is expanding its Seda Nuvali hotel in Laguna, adding a second tower that is expected to open by early 2020.

Aboitiz Construction sets sights overseas with new subsidiary

ABOITIZ Construction, Inc. (ACI) is setting up an international unit as it plans to expand both its geographic reach and the services it offers.

Habitat, Euro Towers partner to help close socialized housing gap

WHILE CONDOMINIUMS and gated subdivisions continue to mushroom in urban and sub-urban parts of the country, the need for affordable housing units is seen at 6.8 million between 2017 to 2022.

HBO doesn’t need boxing to tussle with Netflix

HBO is walking out of the ring, and it’s the right move.
iphone smartphone

Smartphone shipments in Philippines recover in 1st half — IDC report

SMARTPHONE shipments jumped 5.6% to 7.8 million units in the first half, a reversal of the decline seen in the same period in 2017, according to International Data Corp. (IDC) Philippines.

Gov’t makes partial award of T-bills as rates rise

THE GOVERNMENT partially awarded the Treasury bills (T-bill) it auctioned off yesterday, with demand skewed towards the longer tenor due to elevated inflation bets for the month of September.

Podium West Tower to be completed by Q2 2019

THE Podium West Tower, a joint venture of Keppel Land Ltd. and BDO Unibank Inc., is on track to be completed by the second quarter of 2019.

Spotify gives artists way to circumvent record labels

SPOTIFY Technology SA is giving musicians new tools to release music without a record label.

Rising interest rates no problem for Philippine property stock traders

THE most aggressive interest rate tightening in the Philippines in 18 years has yet to shake the faith of local money managers in the nation’s property stocks.

Osmanthus to buy 15% stake in BDO’s One Network Bank

BDO Unibank, Inc. has entered into an agreement with a Singaporean investment firm allowing the latter to acquire a minority share of its rural banking subsidiary.

UnionBank SRO ‘credit positive’

FRESH CAPITAL raised by the UnionBank of the Philippines bodes well for the lender’s credit rating, Moody’s Investors Service said, noting the additional funding will support brisk lending activity.

Jefferson Airplane band co-founder Marty Balin, 76

LOS ANGELES — Marty Balin, a co-founder of the legendary rock band Jefferson Airplane whose soulful tenor gave the band its distinctive sound, has died at the age of 76, his representative said on Friday.

Cost of a home in Toronto, Vancouver ‘off the charts’

THE COST of owning a home in Canada is at the highest level in 28 years and likely to get only more onerous as...

PT&T appeals ‘erroneous’ fee imposed by NTC

PHILIPPINE Telegraph and Telephone Corporation (PT&T) has filed a petition with the Court of Appeals (CA), questioning the “erroneous” and “inaccurate” amount of supervision and regulation fee (SRF) imposed on the company by the National Telecommunications Commission (NTC).
Insurance

Microinsurance coverage up

THE Insurance Commission (IC) said the number of Filipinos covered by microinsurance grew further in the first half of the year driven by mutual benefit associations (MBA).
Swiss-Belreost and Villas Samal Davao

Swiss-Belhotel to manage luxury resort on Samal island

GLOBAL hospitality management chain Swiss-Belhotel International said it will manage a luxury resort in Island Garden City of Samal, northern Davao.

City of Dreams to open VR Zone

CITY OF DREAMS Manila will soon introduce a VR zone and food park that puts into spotlight a new generation entertainment.

ICTSI subsidiary expands Honduras terminal

A SUBSIDIARY of International Container Terminal Services, Inc. (ICTSI) recently started operations of a new berth in Puerto Cortes in Honduras.

How PSEi member stocks performed — October 1, 2018

Here’s a quick glance at how PSEi stocks fared on Monday, October 1, 2018.