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S&P affirms PH’s BBB rating, projects incomes to rise
MANILA, Philippines – Global credit rating agency Standard & Poor’s (S&P) has projected that growth in per capita income in the country will hit the $3,000 mark this year as it affirmed the...
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Banks tightened standards for business loans in Q1 2016 – BSP
MANILA, Philippines – A survey by the Bangko Sentral ng Pilipinas showed that banks had implemented stricter standards for lending to businesses in the 1st quarter of 2016 although standards to house...
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BDO nets record income in 2015: P25B
MANILA, Philippines – The Sy family-led BDO Unibank Incorporated (BDO) saw its net income for the full year 2015 increase by 10% to P25 billion, the highest it's ever recorded.The bank attributed the...
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Real estate firm targets yuppies with 'high-quality' dorms
MANILA, Philippines – Long dominated by a handful of conglomerate-backed property developers, the country's real estate sector has begun to see new players with innovative models coming in to try and...
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PH credit ratings at risk if 'wrong' leaders elected – Palace
MANILA, Philippines – Malacañang warned Filipinos that the improved credit ratings of the country would be at risk if "wrong" leaders are elected.On April 21, global credit rating agency Standard &...
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Philip Morris pleads not guilty to huge Thai tax dodge
BANGKOK, Thailand – Tobacco giant Philip Morris on Monday, April 25, pleaded not guilty to dodging hundreds of millions of dollars in import tax to Thailand, a crime carrying a massive fine of up to...
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Razon plans to build hotel, casino in Quezon City
MANILA, Philippines – Enrique Razon Jr, the Philippines' 8th richest man, plans to build a hotel and casino in Quezon City.Bloomberry Resorts Corporation, of which Razon is chairman and chief executive...
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IMF urges Gulf states to adapt to lower oil prices
DUBAI, United Arab Emirates – The International Monetary Fund forecast Monday, April 25, economic growth in the 6-nation Gulf Cooperation Council will be 1.8% this year, down from 3.3% in 2015, and...
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DOE: No need for emergency powers on election day
MANILA, Philippines – Power supply should be stable this summer, including during the May 9 elections, according to the Department of Energy."We don't see the need for emergency powers because we are...
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Saudi unveils far-reaching plan to move away from oil
RIYADH, Saudi Arabia – Saudi Arabia said Monday, April 25, it would create the world's largest sovereign investment fund and sell shares in state energy giant Aramco under a vast plan unveiled to...
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Scandal-hit Volkswagen also faces US union battle
DETROIT, United States – German automaker Volkswagen, already deep in trouble in the United States over its polluting diesel engines, is also fighting a union challenge at its plant in the southern...
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Security Bank unfazed by election uncertainty
MANILA, Philippines – The local banking scene will continue to be bullish regardless of who will be elected as the new Philippine president in May.This was the statement of Alfonso Salcedo Jr,...
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PH imports up 1.2% in February
MANILA, Philippines – Philippine imports grew by 1.2% in February, led by the continued purchases of capital goods, according to the National Economic and Development Authority (NEDA).While still...
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Cebu Pacific passenger volume surges 13% in Q1
MANILA, Philippines – Cebu Pacific Air, the country's largest budget airline, flew 4.8 million passengers in the first quester of 2016, a 13%-increase in its passenger volume spurred by seat sales and...
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Xurpas raises P1.2B in new capital
MANILA, Philippines – Consumer tech firm Xurpas (PSE: X) raised P1.2 billion in fresh capital following an accelerated overnight share placement, said the company on Tuesday, April 26.Xurpas' founders...
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Mitsubishi Motors fuel-cheating scandal widens on fresh admission
TOKYO, Japan – Japan's Mitsubishi Motors said Tuesday, April 26, it has been using dodgy fuel-efficiency testing for 25 years and admitted it has no idea of the scale of the cheating that has plunged...
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First drop in iPhone sales, Apple revenue streak ends
SAN FRANCISCO, USA – Apple on Tuesday, April 26, reported its first-ever drop in iPhone sales since launching the smartphone in 2007 as the tech giant's long streak of rising revenue ended.Apple said...
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US Steel files complaint against Chinese steel imports
WASHINGTON, USA – US Steel Corporation filed a trade complaint Tuesday, April 26, against big Chinese steel makers and distributors, seeking to bar allegedly unfairly traded Chinese products from the...
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Fake stones threaten to undermine Sri Lanka's gem trade
RATNAPURA, Sri Lanka – From the Queen of Sheba to Britain's Duchess of Cambridge, Sri Lanka's sapphires have adorned royalty through the ages, but a flood of cheap imitations is threatening the...
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SWIFT financial network warns of fraudulent messages
MANILA, Philippines – The Society for Worldwide Interbank Financial Telecommunication (SWIFT), a global financial messaging network, warned its customers Monday, April 25, that it knew of "a number of...
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