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Monthly Archives: June 2019

AirAsia hoping to start Beijing service by Q4

PHILIPPINES AirAsia, Inc. said it hopes to open a new route to Beijing by the fourth quarter to tap the growing Chinese market.
Gil S. Beltran

DoF says business sector keen on tax reform bills to be refiled with new...

THE Department of Finance (DoF) said it will re-file with the 18th Congress bills that form part of second package of the Comprehensive Tax Reform Program (CTRP), which seeks to rationalize fiscal incentives and lower corporate income tax.
World Bank

World Bank approves further $300-M funding for CCT program

THE World Bank said it approved a $300 million loan to help fund the Philippines’ conditional cash transfer program for two years.
Department of Energy (DoE)

DoE touts expressions of interest for energy exploration

THE Department of Energy (DoE) said its Philippine Conventional Energy Contracting Program (PCECP) continues to attract interest from potential investors.

Outstanding foreign-currency loans rise 2.7% in Q1

FOREIGN currency loans granted by Philippine banks rose in the first quarter of 2019 as borrowers sought working capital and funds for plant and equipment, the Bangko Sentral ng Pilipinas (BSP) said.
Security Bank

Security Bank raises P18-B from oversubscribed two-year peso bonds

SECURITY Bank Corp. has raised P18 billion from an oversubscribed bond issue after originally offering P5 billion.
Peso Dollar

Peso rises on expected Fed easing, trade deal prospects

THE peso strengthened Friday ahead of an expected cut in Fed policy rates and amid positive sentiment generated by the G20 meeting.

PSEi falls back below 8,000

THE MAIN INDEX ended the week back below the 8,000 mark for the first time in eight trading sessions on Friday, leading a fall across Asia as investors took profit ahead of top-level Sino-US trade talks at the sidelines of the G20 summit in Osaka, Japan this weekend.

Why the Philippines is the place to be for social enterprises

Over the past two decades, The Philippines has seen a giant boom in social enterprises. According to a study published by the British Council,...

Robot-bellboys and smart-concierges: What’s next for hospitality?

Hospitality is an intrinsic part of being human. From pre-colonial communities welcoming foreign traders to our shores to Filipinos opening their homes to their...

Stronger together: Embracing the hard-of-hearing in your business

Helping Hands Cafe and Fruitas on building deaf-inclusive workplaces

Five startups to kickstart your zero waste habit

Making an impact by lowering our environmental impact

Dispatches from the Future

Your alarm buzzes just as you finish brushing your teeth. Time to head to work, your watch display reads out. You pop on your...

Imagining the future of Philippine farming

It’s 6:30 a.m. and a cloudless sky provides no shade from the beating sun. Carlo, 28, wipes the sheen of sweat from his brow....

Secure64, ePLDT launch new, best-in-class online security toolset

Following the signing of their strategic partnership agreement in November last year, Secure64 and ePLDT have just launched their most secure and scalable set...

PouchNATION closes Series B funding round to conquer events services in Asia

Emerging as a leader in digitizing mass participation events and venues through the use of NFC technology, PouchNATION (pouchnation.com) has secured a Series B...

Small businesses take over their owners’ lives. Here’s why.

Running a business can be a satisfying activity, but a challenging one. A recent survey conducted by GoDaddy and One Poll in the U.S....

Community Corp serves over 1,000 people daily, expands catering services

Decades ago, Didipio was a sleepy town with small scale mining as the main source of livelihood complemented by sustenance farming. Fast forward years...

Top architecture firms, property developers in the Philippines recognized at BCI Asia Awards 2019

It was a memorable night celebrating the best in local architecture, building and design industry as country’s most remarkable architecture firms and property developers...

DoF, Congress amenable to weekly talks

THE DEPARTMENT of Finance (DoF) on Thursday proposed more frequent meetings between state economic managers and Congress in order to facilitate legislation of priority measures -- a proposal lawmakers were open to.

J.P. Morgan notes Philippines luring relocating businesses

THE PHILIPPINES, along with neighbors Indonesia, Malaysia, Thailand and Vietnam, can expect to benefit from decisions to relocate by companies adversely affected by the ongoing trade war between China and the United States, investment bank J.P. Morgan said in a June 26 report e-mailed to journalists on Wednesday evening.
circuit boards electronics semiconductor

Moody’s sees economic growth likely muted in Q2

THE ECONOMY likely grew at a muted pace this quarter, a senior executive of Moody’s Investors Service said on Thursday, with the country’s socioeconomic planner saying nevertheless that the pace could still top those of the first quarter and last year’s second quarter.

Chinese exporters shift production to low-cost nations in order to dodge impact of trade...

GUANGZHOU/YANGON -- Pressured by a labor crunch and rising wages in China, Shu Ke’an, whose firm supplies bulletproof vests, rifle bags and other tactical gear to the United States, first considered shifting some production to Southeast Asia a few years ago, but nothing came of it.

Anchor Land sets 3-year capex at P35B

UPSCALE property developer Anchor Land Holdings, Inc. (ALHI) is investing P35 billion until 2021 for the construction of residential, office, and logistics center projects.

SM-Federal Land’s ultra-luxury project sees strong sales

PROPERTY firms SM Development Corp. (SMDC) and Federal Land, Inc. have already sold about 40% of The Estate, an ultra-luxury residential project which offers units valued at around P600,000 per square meter (sq.m.).

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Films to open Fridays, get guaranteed 7-day run

AFTER months of consultations with industry stakeholders and the general public, the Film Development Council of the Philippines (FDCP) has released a memorandum circular which will move the opening days for local and foreign films from Wednesday to Friday and ensures a minimum seven-day run for every film booked in theaters starting July.

Philex says Silangan feasibility study to be released in July

PHILEX Mining Corp. said it would require around $1.1 billion in capital expenditures to start operations of Silangan mine by 2022.

‘Korean Wave’ celebrity couple to split, fans mourn

SEOUL — South Korean actors Song Hye-kyo and Song Joong-ki are splitting up less than two years after their fairytale marriage, the couple said on Thursday, shocking fans across Asia.

CHP still hopes to hike capital stock

CEMEX Holdings Philippines, Inc. (CHP) is still optimistic it can raise its authorized capital stock to P18.31 billion within the year, even as it failed to secure the approval of majority of its shareholders in its last meeting.

Park Bo Gum’s feel good fan meet

By Cecille Santillan Visto Fan Meeting Review Park Bo Gum: May Your Everyday Be A Good Day June 22, SM MOA Arena PARK BO GUM’s May Your...

Employers sound alarm on automation for skills upgrading

EMPLOYERS said it is an urgent matter for companies to invest in upskilling employees, noting that low-skill and medium-skill professions are at risk from automation.

PROSB absorbs seven rural banks

A THRIFT BANK has absorbed seven rural lenders, in line with a push by the Bangko Sentral ng Pilipinas (BSP) for bank mergers.

SNAP invests P24 million for floating solar power project in Isabela

RENEWABLE energy company SN Aboitiz Power-Magat (SNAP-Magat) has invested around P24 million for the 200-kilowatt pilot floating solar project in Ramon, Isabela.

General Electric machinists oppose tentative labor deal

NEW YORK -- The machinists union said on Wednesday it opposes a tentative labor contract reached this week with General Electric Co, potentially impeding the Boston-based conglomerate’s efforts to avoid labor unrest during a difficult period.

The feeling is mutual: Korean actor loves fans as much as they love him

SOUTH KOREAN actor Park Bo Gum concluded his multi-country fan meet tour which started in Seoul and ended in Manila on June 22 at the Mall of Asia Arena (MOA) in Pasay City.

Collaboration between insurers, fintechs eyed

MANUFACTURERS Life Insurance Co. (Phils.), Inc. (Manulife Philippines) eyes to boost collaboration between insurance firms and financial technology (fintech) companies to improve customer experience and increase awareness in insurance.

Over 100 Popeyes stores in 3 years eyed

THE operator of fastfood chain Popeyes in the Philippines is targeting to open over a hundred stores in the next three years.

DTI, TESDA planning training program for Halal butchers

THE PHILIPPINE Trade Training Center-Global MSME Academy (PTTC-GMEA) is looking into offering training in Halal-compliant animal slaughter in partnership with the Technological Education and Skills Development Authority (TESDA).

Variety the focus of this year’s Eiga Sai f ilm festival

NOW ON its 22nd year, the Eiga Sai Japanese Film Festival presents a selection of 17 full-length features from a variety of genres to “show not only one side of Japanese culture,” said an organizer.

HSBC boosts Philippine private banking business

THE HONGKONG and Shanghai Banking Corp. Ltd. (HSBC) has expanded its private banking presence in the Philippines by deploying more relationship managers to service the growing wealth market.

What to see this week

5 films to see on the week of June 28 — July 4, 2019

AGI to double capacity at casinos as PHL tourism climbs

A YEAR after taking over from his father as chief executive officer, Alliance Global Group, Inc.’s (AGI) Kevin Tan says tourism and consumer spending in the Philippines will drive growth as his real-estate-to-booze conglomerate doubles capacity at its Manila gambling resorts.

Tesla senior production executive quits

TESLA INC’S vice president of production at its Fremont factory, Peter Hochholdinger, has left after three years with the electric-car maker, a source familiar with the matter told Reuters.

Management theories in flux

My Asian Institute of Management-Master in Business Management alumni class has a very active Viber group and recently our exchange revolved around the debate on whether new management theory has been discovered. One view says that management theory hasn’t really changed in the past 50 years, except that framing of the theory has progressed in the elusive search for the winning management formula. This has given birth to an industry of best selling books written by experts claiming to have discovered the immutable laws of management and leadership.

This new CEO thinks he doesn’t need HR

We have a new company president who was pirated by the owner from a competitor. He is a supply chain expert who doesn’t believe in the importance of human resources (HR) as a support function in the organization. In a recent town hall meeting with managers, he told us that everyone can do the work of HR and it need not become a specialist function. Since I am the HR department head, it has become uncomfortable for me to work with him given his critical position against my job. I’ve been in this company for close to 20 years now. And I don’t have any plans of moving to another organization. Please give me your advice. -- Bumpy Ride.