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Makati City
Friday, January 20, 2017
Damage caused by typhoons in the last quarter of the year affected the country's agricultural productivity in 2016, declining total output by 1.41 percent year-on-year, according to the latest report from the Philippine Statistics Authority (PSA). The report, titled “Performance of Philippine Agriculture, October-December 2016," also showed that the sector...
STILL upbeat on the domestic consumer market due to the country’s burgeoning economic growth, McDonald’s Philippines bared on Wednesday its investment of around P3.5 billion for its expansion plan this year. “We’re quite optimistic . The Philippine is growing quite faster so we want to keep pace with that...
The Jollibee Group Foundation (JGF) said on Thursday it will increase the volume of vegetables that it sources from its partner-farmers’ cooperatives by 25 percent to 1,000 metric tons (MT) this year. JGF Executive Director Giselle Tiongson also said the group is planning to add Luzon-based farmer-cooperatives in its network. “From...
WASHINGTON—Organic meat and egg producers will have to abide by stricter animal welfare standards under a new rule announced on Wednesday by the United States Agriculture Department (USDA). The rule is a victory for animal rights groups two days before President Barack Obama leaves office. The regulations will ensure that...
At least 61 percent of Filipinos do not include exercise in their daily routines, which results to poor health and fitness, according to a study commissioned by Sun Life of Canada (Philippines), Inc. (Sun Life). Among Asian countries included in the Sun Life Financial Asia Health Index, surveyed online by...
Trudging up a lush mountainside to a remote village, plunging through a swift-moving river in the footsteps of elephants and cruising Bangkok’s gleaming luxury malls—with each step, I walked into different worlds, each one beautiful, all in Thailand. Don’t forget glittering temples, bustling night markets and world-famous Thai massages to...
Malaysia’s foreign minister said on Wednesday the Organization of Islamic Cooperation (OIC) is expected to call for a halt to violence against Myanmar’s Rohingya Muslim minority and for the safe return of refugees. Malaysia, which has urged Myanmar to stop what it calls a policy of genocide toward Rohingya, is...
GLOBE Telecom Inc. has allocated $750 million (P37.448 billion) for its capital expenditures for 2017 to further improve its services in major cities and the countryside for both the mobile and fixed-line segments. The amount is $250 million (P12.48 billion) less than the capital outlays last year, which was pegged...
PROPERTY developer Megaworld Corp. said its board of directors has approved the company’s debt-securities program by issuing up to P30 billion of fixed-rate bonds. The company said it will initially issue a total of P12 billion worth of dent, P8 billion of which are principal offering and P4 billion for...
AC Energy Holdings Inc. is expected to seal in the very near future another investment deal involving renewable energy (RE). The power arm of  Ayala Corp., AC Energy President John Eric Francia said, is currently working on another acquisition that would be finalized in the next few weeks. “We are in the middle...

PHL misses 2016 BOP target

The country’s balance of payments (BOP), or the sum of the Philippines’s trade transactions with the rest of the world, fell into the deficit territory at the end of 2016, missing the projection for the year and reversing gains seen in 2015. The Bangko Sentral ng Pilipinas (BSP) reported on...
We can see in our country today the rich becoming richer and these are tycoons who has built their wealth for generations.  There are, in fact, tycoons who are still alive today who started from being poor to being one of the wealthiest not only in the country but...
Singapore’s three-year decline in home prices could see relief from an unexpected quarter in 2017: Hong Kong. So says Cushman & Wakefield Inc., which expects the slide in the city-state’s home prices to end this year, as foreign investors turned off by Hong Kong’s move to increase the stamp duty...
ALTERRA Capital Partners Inc., a company in the process of renaming itself to Philab Industries Inc., said it has secured a P400-million loan from Altus Capital Corp. to be repaid within 30 months with interest rate of 15 percent per year. “The purpose of the loan is, among others, to fund working-capital...
PROPERTY developer Primex Corp. said it had prepaid all its bank obligations with Metropolitan Bank and Trust Co. and BDO Unibank Inc. early this year. Primex, together  with subsidiary Primex Realty Corp. and affiliate Primex Land Inc., has a total approved loan line of P1.8 billion. The listed firm has an...
FORMER executives of Pilipinas Shell Petroleum Corp. (PSPC) filed recently a criminal complaint against former Customs Commissioner Napoleon Morales and two more for falsely accusing them of being involved in illegal importation. Edgar Chua, former Shell country manager; Nigel Avila, former Shell country tax manager; and Shell former Vice President for...
To help prevent oceans from carrying more plastic than fish as projected in one study, Sen. Loren B. Legarda on Thursday again called for the regulation of the use of plastic bags in the country. Legarda made the statement after the Ellen MacArthur Foundation released a report, titled “The New...
BACOLOD CITY—The Department of Agriculture in Negros Island Region (DA-NIR) will create a database for crops in demand for import, including abaca, banana and pineapple. DA-NIR Joyce Wendam,  in a statement on Wednesday, said the creation of database for crops will be taken up during the Regional Management Committee (RMC)...
To address the perennial problems hounding the Philippine farm sector, Agriculture Secretary Emmanuel F. Piñol said on Wednesday he will push for a 10-year legislated road map to ensure the country’s food security. Piñol said legislating the food-security program will ensure its continuity even after President Duterte has stepped down...
Forget beer and wine made from grapes. In China’s booze market, it’s all about another, equally old alcoholic beverage. Yellow rice wine, sometimes known as liquid cake, dates back to the Shang Dynasty more than 3,000 years ago. It is the fastest-growing mass-market alcoholic drink in China, with sales volume...