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'Thin' profits for Southeast Asian carriers amid tougher competition – IATA
SINGAPORE – Southeast Asian airlines are likely to see "thin" profits for some time to come as competition from budget carriers and Middle East rivals squeezes earnings, the IATA chief said Sunday,...
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Agency banking: Bringing financial services to rural areas
MANILA, Philippines – Technology can now turn everyone into a bank. Not a banker, but an actual bank.That is the promise of agency banking. Also known as branchless banking, it is the latest in a long...
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ERC: Probe vs Meralco, gencos over 2013 rate hike a 'priority'
MANILA, Philippines – The Energy Regulatory Commission (ERC) said it will prioritize a probe into 11 generation companies (gencos) that were found to have engaged in anti-competitive behavior, leading...
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Toyota plants start again after 6-day parts shortage
TOKYO, Japan – Toyota said Monday, February 15, it had resumed operations at all vehicle assembly and parts plants in Japan after its longest domestic production suspension since the March 2011...
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Elections bring uncertainty to LRT6 project
MANILA, Philippines – The government's P65.09-billion ($1.37-billion) plan to build a 19-kilometer elevated railway from Niyog, Bacoor, Cavite to Dasmariñas along the Aguinaldo Highway faces a risk:...
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US-ASEAN Summit likely a 'win' for global trade – HSBC
MANILA, Philippines – Trade talks during the US-ASEAN Summit in California this week could boost businesses amid a lethargic global economy, according to the Hongkong and Shanghai Banking Corporation...
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Metro Pacific unit to start NLEX expansion February
MANILA, Philippines – The tollways unit of Metro Pacific Investments Corporation (MPIC) will start a P2.6-billion ($54.77-million) expansion of the North Luzon Expressway (NLEX) this month to cater to...
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ERC approves NGCP's Visayas-Mindanao grid link study
MANILA, Philippines – The Energy Regulatory Commission (ERC) has green lighted a study on the proposed Visayas-Mindanao interconnection project of the National Grid Corporation of the Philippines...
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After 7 years, San Miguel unit to start building MRT7
MANILA, Philippines – Seven years since the Metro Rail Transit Line 7 (MRT7) was awarded, winning concessionaire San Miguel Corporation-backed Universal LRT Corporation BVI Limited (ULC) is finally...
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Asian airlines more cautious with orders – Boeing
SINGAPORE, Singapore – Asian airlines which were famed in the past for multi-billion-dollar orders have become more cautious in the face of thinner profits and a global economic downturn, a Boeing...
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Air21 launches premium NAIA buses Wednesday
MANILA, Philippines – Starting Wednesday, February 17, logistics firm Airfreight 2100 Incorporated (Air21) will be the country's interim premium airport bus service operator, servicing the 3 terminals...
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MVP exits Victorias Milling Company
MANILA, Philippines – Hong Kong's First Pacific Limited Company led by tycoon Manuel V. Pangilinan (MVP) is exiting sugar milling firm Victorias Milling Company, Incorporated (VMC).VMC told the...
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Mexico slaps $8.9M fine on Volkswagen
PUEBLA, Mexico – Mexican authorities imposed an $8.9 million fine on German automaker Volkswagen on Monday, February 15, for selling more than 45,000 cars without certificates for emissions and noise...
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BEMAC Electric to deploy 3,000 e-trikes within 2016
MANILA, Philippines – BEMAC Electric Transportation Philippines, Incorporated, a subsidiary of Uzushio Electric Company of Japan, will start producing 3,000 units of electric motor-powered tricycles...
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PH merchandise exports dip by 5.6% in 2015
MANILA, Philippines – Weak demand from principal trading partners caused Philippine exports to fall in 2015, but the Department of Trade and Industry (DTI) is predicting a major upturn this...
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Saudi, Russia agree to freeze oil output, on one condition
DOHA, Qatar – The world's top oil producers Saudi Arabia and Russia agreed Tuesday, February 16, to freeze oil output at January levels in a bid to stabilize an oversupplied market, Qatar's energy...
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Obama announces measures to deepen economic ties with Southeast Asia
RANCHO MIRAGE, California, USA – US President Barack Obama on Tuesday, February 16, announced a package of measures designed to boost Southeast Asian economies, betting that the fast-growing region can...
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Chocolate fries: Sweet savior or last gamble for McDonald's Japan?
TOKYO, Japan – Customers like Shigeaki Yamaguchi may be the last hope for McDonald's Japan as it battles slumping sales in the wake of an embarrassing string of food scandals.At a location in Tokyo's...
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Airbus wins $1.85B order from Philippine Airlines
SINGAPORE (3rd UPDATE) – Philippine Airlines, Incorporated (PAL) went shopping for new long-haul jets at the Singapore Airshow, placing an order of 6 Airbus A350-900 planes in a $1.85 billion deal with...
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Nivea maker Beiersdorf looks to smooth growth
FRANKFURT, Germany – Beiersdorf, the German maker of Nivea cream products, said Wednesday, February 17, it expects to attain higher sales and earnings this year after a "successful" year in 2015."In a...
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