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Scandal-hit Mitsubishi Motors eyes $1.4B loss
TOKYO, Japan – Mitsubishi Motors on Wednesday, June 22, warned it is on track to lose 145 billion yen ($1.4 billion) this fiscal year in the wake of a mileage-cheating scandal that slammed the brakes...
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Globe Telecom, PLDT urge PCC: Let's talk
MANILA, Philippines – PLDT Incorporated and Globe Telecom Incorporated are seeking a dialogue with the Philippine Competition Commission (PCC) to resolve uncertainties concerning the $1.5-billion deal...
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IMF warns the US over high poverty, inequality
WASHINGTON, USA – The International Monetary Fund (IMF) warned the United States on Wednesday, June 22, over poverty and rising inequality in the country, saying both could hold back its economic...
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BPI ATMs, online banking services unavailable on select June dates
MANILA, Philippines – The Bank of the Philippine Islands' (BPI) automated teller machines (ATMs), cash deposit machines (CDMs), and online banking services will be unavailable at certain times on...
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Bloomberry to sell Jeju casino property
MANILA, Philippines – Bloomberry Resorts Corporation, the integrated casino and resort developer owned by businessman Enrique Razon Jr, reported that it is selling its Jeju casino property in South...
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PayMaya Philippines to tap ASEAN market
MANILA, Philippines – PayMaya Philippines Incorporated– the digital financial services unit of PLDT Incorporated and Smart Communications Incorporated – is expanding its reach to two member-countries...
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Japan's pension fund sues Toshiba over accounting scandal
TOKYO, Japan – Japan's national pension fund, the world's biggest, said Thursday, June 23, it is suing Toshiba over a profit-padding scandal that slashed the value of its stock, as its new boss pledged...
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BIR tax collection down 22% in May
MANILA, Philippines – Just as with Customs, the government’s tax collection failed to hits its targets for May 2016 with the Bureau of Internal Revenue (BIR) reporting a shortfall of 22.42% for the...
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Metrobank to offer up to P20B in long-term negotiable time deposits
MANILA, Philippines – In a bid to make the most out of the liquidity in the market at present, listed Metropolitan Bank & Trust Company, better known as Metrobank, is raising P20 billion in fresh...
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Ayala Corp's P20-B shelf registration gets SEC green light
MANILA, Philippines – The Securities and Exchange Commission (SEC) gave Ayala Corporation the go-signal to pursue its shelf registration of fixed-rate bonds worth P20 billion, which will be used mainly...
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UK pound collapses to lowest value since 1985 ahead of EU referendum result
TOKYO, Japan – The pound collapsed Friday, June 24, to its lowest level since 1985 as the unit takes a beating on fears that Britain will vote to leave the European Union, in what critics warned would...
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Philippine stocks, peso fall on Brexit victory
MANILA, Philippines – Philippine stocks declined and the peso depreciated against the dollar on Friday, June 24, as investors turned risk-averse on the decision for Britain to leave the European Union...
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PH warned: Brexit will affect all countries
MANILA, Philippines – The United Kingdom’s decision to leave the European Union will affect – “without exception” – all countries in varying degrees, outgoing Finance Secretary Cesar Purisima said on...
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Central banks move to reassure markets after Brexit
LONDON, United Kingdom – The world's major central banks rushed Friday, June 24, to deal with financial markets chaos arising from Britain's shock referendum decision to quit the European Union.Britain...
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Affinion Group makes PH its Asia-Pacific hub for back office
MANILA, Philippines – The Nasdaq-listed Affinion Group Holdings Incorporated has set foot in the Philippines, making the country its Asia-Pacific hub for contact center and shared services.Affinion...
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Globe Telecom takes big leap in digitization with 6 content deals
MANILA, Philippines – Globe Telecom Incorporated inked a strategic partnership with Netflix Incorporated and 5 other foreign content providers, confronting a rapidly-shifting space where small steps...
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Philippine gov't on Brexit: Do not be complacent
MANILA, Philippines – The Philippine government is optimistic that the country can withstand the effects of Britain's decision to leave the European Union (EU), but said Filipinos should not be...
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PH imports up 29% in April 2016
MANILA, Philippines – Philippine imports grew by 29.2% in April, led by double-digit increases in purchases of capital goods, raw materials, intermediate goods, and consumer goods, the according to the...
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Manny V. Pangilinan, JAZA, and a 'hands-off' Aquino
MANILA, Philippines – The Philippines has finally roared after trailing behind the region’s tiger economies, with the businesses of Manuel V. Pangilinan and Jaime Augusto Zobel de Ayala benefitting the...
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China cuts yuan fix in biggest move since devaluation
SHANGHAI, China – China weakened the yuan's fixing almost 1% to a 5-and-half-year low against the dollar Monday, June 27, officials said, the biggest downward move since August as the greenback surged...
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