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  • PSPC’s Korean parent gets $116.32M cash infusion from new investor

    PSPC’s Korean parent gets $116.32M cash infusion from new investor

    Phoenix Semiconductor Philippines Corporation’s (PSPC) Korean parent company, STS Semiconductor & Telecommunications, Co. Ltd. (STS), has found a white knight to provide it with a US$116.32 million cash infusion. In a disclosure to the Philippine Stock Exchange, PSPC said…

  • Uber plans $1 billion China investment: report

    Uber plans $1 billion China investment: report

    Beijing, China | AFP – Taxi hailing app Uber plans to invest seven billion yuan ($1.1 billion) in China, the Financial Times reported on its website, citing a company email. The paper said it obtained the message sent to Uber investors this week…

  • Century Properties to invest P27B in five years

    Century Properties to invest P27B in five years

    Century Properties Group, Inc. is investing P27 billion over the next five years to beef up its real estate portfolio which includes economic housing, residential towers, leasing property, and leisure and tourism projects. In an analysts’ briefing, Century Properties…

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  • AUB reports flat net income in H1

    AUB reports flat net income in H1

    Asia United Bank (AUB) said its  net income slightly fell in the first half of 2015, citing higher operating expenses on new branches and increase in loan provisioning. In a disclosure to the Philippine Stock Exchange (PSE), the AUB…

  • PNB profit almost doubles in Q2

    PNB profit almost doubles in Q2

    Philippine National Bank (PNB) said its net income rose 12 percent to P3.6 billion for the first half of 2015 on the back of a much stronger second quarter performance. In a disclosure to the Philippine Stock Exchange, PNB…

  • New $100 bn BRICS bank opens in China to challenge US-led lenders

      by Bill SAVADOVE Shanghai, China | AFP  – A new $100 billion international bank dedicated to the emerging BRICS countries opened in China’s commercial hub Shanghai on Tuesday, officials said, as an alternative to other multilateral lenders. The “New Development Bank”, backed…

Stock Market More

  • Crude oil prices continue downtrend

    Singapore  – Oil prices fell in Asia Thursday following a mixed US petroleum report that showed an increase in reserves but a dip in production. US benchmark West Texas Intermediate for October delivery fell 14 cents to $46.11 while…

  • Newly listed SBS more than doubles net profit

    Chemical trading firm SBS Philippines Corporation reported that its net profit more than doubled to P72.5 million in the first half of 2015 from the R33.7 million registered in the same period last year. In a disclosure to the…

  • Robinsons Retail buys appliance store chain

    Robinsons Retail buys appliance store chain

    Robinsons Retail Holdings, Inc. (RRHI) has acquired 90 percent of by Savers Electronic World, Inc., which owns and operates consumer electronics and home appliance store chain Saver’s Appliance Depot. In a disclosure to the Philippine Stock Exchange, RRHI said…

Shipping More

  • N. Korean airline may be the world’s quirkiest

    Pyongyang, North Korea – If an Air Koryo passenger ignores its no-photography rule, a flight attendant might take the camera and delete the pictures herself. Crumpling up a newspaper bearing the image of North Korean leader Kim Jong Un…

  • LTFRB has yet to make apprehension of Uber, GrabCar operators

    More than a week after the government’s deadline for app-based transport operators to secure the necessary franchise, not one operator of Uber and GrabCar vehicles has been apprehended so far. Instead, the Land Transportation Franchising and Regulatory Board (LTFRB)…

  • Gov’t urged to include PH carriers as members of air packs negotiators

    The Save Our Skies (SOS) has urged the Aquino government to reinstate Philippine carriers as members of air negotiating panels, pointing out that their present role as observers makes no sense and is absurd. “We appeal to the Aquino…

Business Agenda More

  • PAL says to shed 117 jobs in non-core services

    PAL says to shed 117 jobs in non-core services

    MANILA (Reuters) – Philippine Airlines Inc (PAL) said on Thursday it is laying off 117 domestic ground crew, or about 2 percent of its total staff strength, in November to focus on its core operations for sustaining profitability. “PAL…

  • Mactan Airport: Technology upgrades and the New Terminal 2

    Last week, I wrote about the improvements underway at the Mactan Cebu International Airport (MCIA) following the take-over of the Megawide-GMR Consortium. Thus far,  more than $35 million have been invested to improve Terminal 1, an investment that goes…

  • UK fashion brands flock to PH

    British fashion brands have been flocking into the Philippines. The latest of which is Cath Kidston, a UK-based fashion and home furnishings retailer is expanding its business in the country as it plans to open seven new stores over…

Trade More

  • China economy shows more weakness as imports, exports fall

    China economy shows more weakness as imports, exports fall

    Beijing, China | AFP – Chinese imports fell for a seventh straight month in May while exports also sank, data showed Monday, as the world’s second biggest economy shows protracted weakness in the face of government easing measures. The disappointing figures also come…

  • PH energy sector: Will it be left out in the AEC?

    PH energy sector: Will it be left out in the AEC?

    The Philippine energy sector is literally and figuratively having a ‘buffet of problems’ – and these have been giving industry players major headaches. Now, this is the question begging for an answer: Will the Philippine energy sector be able…

  • Japanese firms see ASEAN’s rising importance over China

    Japanese firms see ASEAN’s rising importance over China

    While many of Japanese manufacturers still continue to recognize the importance of China as a “manufacturer of the world,” only a minority said that China could maintain this status into the future as more Japanese firms anticipate ASEAN to…

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