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RCBC president and CEO Lorenzo Tan resigns
MANILA, Philippines – Rizal Commercial Banking Corporation president and CEO Lorenzo Tan has resigned, RCBC announced on Friday, May 6.“The board of directors of RCBC has accepted with regrets the...
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PH foreign reserves hit two-year high of $83.47B in April
MANILA, Philippines – The country's foreign exchange reserves hit their highest level in more than two years, said the Bangko Sentral ng Pilipinas (BSP) on Friday, May 6.Gross international reserves...
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Max's Group net income up 8% in 1st quarter
MANILA, Philippines – Restaurant chain Max's Group, Incorporated (MGI) has seen its recent investment in new restaurants return a jump in profit for the first quarter of 2016.In a disclosure to the...
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Panama Papers' source to help law enforcers if free from punishment
MANILA, Philippines — The whistleblower behind the leak of documents known as the Panama Papers on Friday, May 6, released a manifesto announcing his willingness to help law enforcers in prosecuting...
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PH banking system stable amid challenging global financial landscape
MANILA, Philippines – Amid the challenging global financial landscape, net income of the Philippines’ banking system was sustained at P134.6 billion ($2.86 billion) in 2015, due to tempered trading...
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#AskTheTaxWhiz: An open letter to taxpaying voters
Dear Mr. Tax Whiz,Many of us taxpayers are still undecided on our choice for president. If we follow the social media and election polls, Duterte will be our next president. How do you feel about that?...
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Helicopter that crashed in Malaysia registered to PH firm
MANILA, Philippines – Philippine aviation authorities confirmed on Saturday, May 7, that the helicopter that crashed in Sarawak, Malaysia, is registered to a Philippine firm based in Cebu. (READ:...
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Central Luzon warned of possible power problems May 9
MANILA, Philippines – Central Luzon residents were warned of a possible threat to power transmission during the May 9 elections on Monday, after the National Grid Corporation of the Philippines (NGCP)...
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Honda to recall 20 million more Takata airbags: report
TOKYO, Japan – Honda Motor will recall an additional 20 million Takata-made airbags globally, a newspaper said Sunday, in a widening scandal that has led to the biggest auto recall in US...
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DOE vows 'adequate, reliable' power supply on election day
MANILA, Philippines – The Department of Energy (DOE) assured the public that power reserves remain normal despite the forced outages of a couple of power plants on the eve of the elections.DOE...
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Businessmen bare reforms, Cabinet wish list for Duterte
MANILA, Philippines – It's a fresh start for local businesses, as tough-talking Davao City Mayor Rodrigo Duterte is on course for a landslide presidential win.Duterte led from the beginning of the...
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Poll results' impact on ratings not immediate – Fitch
MANILA, Philippines – The outcome of the 2016 Philippine elections on Monday, May 9, will not have an immediate impact on the country’s minimum investment grade credit rating and stable outlook,...
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PH foreign direct investments hit $936M in Jan-Feb 2016
MANILA, Philippines – Despite the uncertainty of elections, foreign direct investments (FDIs) to the country increased at the start of year, according to the Bangko Sentral ng Pilipinas (BSP).BSP data...
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Emirates annual profit soars 56% as fuel costs fall
DUBAI, United Arab Emirates – A strong US dollar and the "double-edged sword" of low oil prices have hit the revenues of Emirates, but net profit still surged 56% as passenger numbers rose and fuel...
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Takata logs $120M annual loss in recall crisis
TOKYO, Japan – Scandal-stricken Takata said on Wednesday, May 11, it logged an annual net loss of $120 million, as the company struggles with a massive recall crisis over exploding air bags tied to 13...
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PH keeps investment grade ratings – for now
MANILA, Philippines – Global credit rating agencies have kept the Philippines’ credit ratings as presumptive president Rodrigo Duterte prepares to take the helm from President Benigno Aquino III on...
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Philippine stocks highest in 9 months after 'peaceful' elections
MANILA, Philippines – Philippine stocks on Wednesday, May 11, posted their highest close since August 2015, as investors cheered on the generally peaceful and orderly elections that saw presumptive...
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Sales slump worsens at fashion group Gap
NEW YORK, USA – The big clothing retailer Gap reported another quarter of declining sales Tuesday, May 10, a sign of deepening trouble in its battle to keep up with fast fashion and online...
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Mitsubishi: Cars sold overseas not affected by cheating scandal
TOKYO, Japan – Mitsubishi Motors said Wednesday, May 11, that its years-long cheating on fuel-economy tests did not affect cars sold overseas, potentially limiting the scope of a scandal that has...
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Nissan throws $2.2B lifeline to scandal-hit Mitsubishi Motors
TOKYO, Japan (UPDATED) – Nissan threw a lifeline to Mitsubishi Motors on Thursday, May 12, saying it would buy a one-third stake in the scandal-hit automaker for $2.2 billion, forging an alliance that...
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