24.4 C
Makati City
Monday, February 20, 2017
The Department of Social Welfare and Development (DSWD) should evaluate the cash-transfer program it is implementing to find out whether it has fulfilled its goal of uplifting the lives of poor Filipinos. Agriculture Secretary Emmanuel F. Piñol said the Pantawid Pamilyang Pilipino Program (4Ps) must be reviewed,  as it has...
KUALA LUMPUR, Malaysia—A paranoid dictator’s estranged brother. Two young female assassins. A crowded international airport. And a mysterious poison that kills within hours. It’s the perfect recipe for a thrilling cloak-and-dagger spy novel. Except some—or possibly even all—of this tale could be true in the apparent assassination of Kim Jong...
DAVAO CITY—The Bangko Sentral ng Pilipinas’s (BSP) effort to widen its reach among unbanked Filipinos is being hampered by the restrictions being imposed by the banking sector, industry sources said. Even the banks have appealed to the BSP and the Anti-Money Laundering Council to help them persuade bankable entrepreneurs in...
The Insurance Commission (IC) wants to broaden the investment areas for insurance companies to include public-private partnerships (PPP) and take advantage of the Duterte administration’s infrastructure program and help sustain the performance of the insurance industry. Insurance Commissioner Dennis B. Funa said an estimated 5 percent of investments by the...
The Department of Agriculture (DA) said it is keen on developing 6,000 hectares of new rice farms in Tawi-Tawi in its bid to increase the rice output of the province and deter smuggling. “During a meeting with Tawi-tawi Gov. Rashidin Matba, I was given assurances the province is aiming for...
Local government officials in Cebu met in Dohera Hotel in Mandaue City last month to discuss the rehabilitation of the mango industry in the Central Visayas region. Mango is one of the export winners of the region and has a comparative advantage with other high-value crops. It is abundant in...
Singapore’s government has a message for anyone expecting great things following Friday’s surprise growth bounce: don’t hold your breath. The city-state’s economy will still only expand between 1 percent and 3 percent this year, policy-makers said after fourth-quarter growth burst in at an annualized 12.3 percent—the fastest pace in more...
DIGITAL services provider PLDT Inc. is investing an initial $10 million (P499.25 million) to join an international cable-landing system that will run across Asia, Africa and Europe. Eric R. Alberto, the company’s chief revenue officer, said his group will join the Asia-Africa-Europe (AAE-1)sometime in the second or third quarter of...
THE financial services company of Chinese business magnate Jack Ma has acquired a substantial minority interest in Globe Fintech Innovations Inc., otherwise known as Mynt, to help the Filipino company plug the gap between the banked and the unbanked through digital financial services. Globe Telecom Inc. President Ernest L. Cu...
DIRECT-SELLING company Amway said its sales reached $8.8 billion last year, despite the softening of the Chinese market. “Across the world, Amway did well in 2016,” Amway Chairman Steve Van Andel said, despite the company’s posting a decline of 7 percent when compared to 2015 figures. He said the company recorded...
AYALA LAND Hotels and Resorts Corp. (AHRC) said it is investing around P15 billion to add 2,464 rooms in nine properties of its wholly-owned Seda Hotels over the next couple of years. “Our goal is to be the leading Filipino hotel brand catering to global travelers in the Philippines,” AHRC Group...
Singapore’s residential property curbs are set to stay in place for at least another year, amid signs the city’s housing market is stabilizing, the CEO of Southeast Asia’s biggest developer said. “We see volume picking up and the price declines have slowed,” Lim Ming Yan, the president and CEO...
The local government has pledged to expand rice-plantation areas in the province by 100,000 hectares to boost the Department of Agriculture’s (DA) bid to achieve rice self-sufficiency by 2021. Agriculture Secretary Emmanuel F. Piñol said Palawan Gov. Jose Alvarez made this pronouncement to him when he visited the province recently. Piñol...
Bayer AG and Syngenta AG, two of the agrichemical giants trying to win the European Commission’s blessing for deals reshaping the global industry, clashed with the European Union (EU) over bans on insecticides that regulators blame for killing honeybees. The EU action not only damages farmers, the agricultural industry and...
Jakarta residents face another two months of campaigning, as the race to lead Indonesia’s capital was headed for a run-off election that will divide the city’s power-brokers along similar lines to the last presidential election. Unofficial “quick count” tallies showed the incumbent Basuki Tjahaja Purnama, who is backed by President...
GLOBAL semiconductor firm Phoenix Semiconductor Philippines Corp. (PSPC) is pouring an additional $170-million (P8.48-billion) investment on an expansion project in its site in Clark Freeport Zone, Clark Development Corp. (CDC) said on Thursday. As of June 2016, the Korean firm had invested $7.52 billion (P3.72 billion) in Clark Freeport since starting...
PROPERTY giant Megaworld is expanding its residential condominium project in Makati City, the San Antonio Residence, with 478 more units that will comprise the development’s East Wing. Located on Sen. Gil Puyat Avenue and Calle Malugay in San Antonio Village, the 40-story San Antonio Residence was launched in 2015 with...
AYALA-LED Integrated Micro-electronics Inc. said its income last year fell 2 percent to $28.01 million (about P1.4 billion), from last year’s $28.77 million (P1.42 billion), partly as a result of transaction and financing costs related to acquisitions and foreign-exchange impact of the Chinese yuan. Consolidated revenues reached $842.96 million (P41.7...
THE automotive and manufacturing arm of conglomerate Ayala Corp., AC Industrials, is still harboring ambitions to manufacture automobiles in the Philippines and is confident to make this a reality within the present administration. Arthur Tan, CEO of AC Industrial Technology Holdings Inc. (AC Industrials), the consolidated unit for Ayala’s car...
UNIVERSAL Robina Corp. (URC), the food group of the Gokongwei family, and Hong Kong’s Vitasoy group on Thursday said they are forming a joint venture (JV) to market its line of food and beverage products in the Philippines. Vitasoy CEO Roberto Guidetti said the JV will explore the potential of plant-based sustainable beverages in the...