BREAKING NEWS: Business (2)

Maybank Philippines eyeing Islamic banking license from BSP

Thu, 18 Apr 2024 17:46:27 +0000

MANILA, Philippines — Maybank Philippines and a foreign company have expressed interest in going into Islamic banking in the country, according to the Bangko Sentral ng Pilipinas. In a press conference, BSP Assistant Governor Arifa Ala said Maybank intends to apply for an Islamic banking license and it is expected to submit its application this

EU, US reindustrialization accelerates, study shows

Thu, 18 Apr 2024 16:31:49 +0000

PARIS, France — Companies in Europe and the United States are set to plow more money into bringing manufacturing home after the COVID-19 pandemic and Russian invasion of Ukraine disrupted the global economy, a study published Thursday found. The report by consulting firm Capgemini found that companies in 13 industrial sectors in 11 countries in

Asian shares gain despite Wall Street’s tech-led retreat

Thu, 18 Apr 2024 15:20:33 +0000

Asian shares advanced on Thursday even after sinking technology stocks sent Wall Street lower in the S&P 500’s worst losing streak since the start of the year. U.S. futures were lower, while oil prices gained. Tokyo’s Nikkei 225 climbed 0.3 percent to 38,090.87 and the Hang Seng in Hong Kong gained 1.5 percent to 16,489.59.

UN says solutions exist to rapidly ease debt burden of poor nations

Thu, 18 Apr 2024 14:57:05 +0000

GENEVA, Switzerland — The heavy debt weighing on developing countries can be alleviated through readily available measures, the UN’s trade and development chief said, pleading for bold international action. Rebeca Grynspan compared the debt burden facing poorer countries to “a reverse blood transfusion”, with money flowing “from the ones that need it to the ones

EU seeks to take on China, US to reverse economic decline

Thu, 18 Apr 2024 14:37:58 +0000

BRUSSELS, Belgium — The European Union’s economy is falling further behind China and the United States, a major headache that will dominate leaders’ talks on Thursday as they discuss how to stem the bloc’s economic decline and bounce back. From supply chain disruptions following the coronavirus pandemic to an energy crisis after Russia’s invasion of

Malampaya gas deliveries rise as Luzon grid placed on alert status

Thu, 18 Apr 2024 12:20:59 +0000

MANILA, Philippines—The Malampaya offshore field was able to deliver more than its target gas volume to key power plants as the Luzon grid was placed on red and yellow alert status by the National Grid Corporation of the Philippines (NGCP). Prime Energy Resources Development B.V. (Prime Energy), operator of Service Contract (SC) No. 38 which

Thirdeye delivers first Ghost Soldier system

Thu, 18 Apr 2024 11:24:43 +0000

The Ghost Soldier system is designed to assist ground forces in monitoring and discovering the enemy during warfare in open terrain.

Gov’t crafting roadmap for fashion, textile sectors

Thu, 18 Apr 2024 11:00:27 +0000

MANILA, Philippines — The government is working on an industry roadmap for the local fashion and textile sectors that will identify current-day challenges and opportunities, as well as set the policy direction for these industries. The Department of Trade and Industry (DTI) on Wednesday said it conducted a validation session last Tuesday where it gathered

Shekel at weakest for five months against dollar

Thu, 18 Apr 2024 10:54:38 +0000

Israel-Iran tensions and the strength of the dollar worldwide have the exchange rating touching NIS 3.80/$.

Balai Ni Fruitas acquires Sugarhouse

Thu, 18 Apr 2024 10:34:03 +0000

MANILA, Philippines — Bakery chain Balai Ni Fruitas Inc. has acquired legacy brand Sugarhouse, allowing the company of businessman Lester Yu to diversify its product offerings to include cakes. In a stock exchange filing on Thursday, Balai, which operates Balai Pandesal, said the acquisition included other assets, such as intellectual property, “technical know-how,” delivery, commissary,

World Bank aims to connect 250 million Africans to energy grid by 2030

Thu, 18 Apr 2024 10:26:18 +0000

WASHINGTON, United States — The World Bank has significantly scaled up its ambition to connect Africans to the electricity grid by 2030, from 100 million to more than 250 million, the Bank’s president said Wednesday. The development lender has estimated that around 600 million people in Africa do not currently have access to affordable, reliable

Huawei's latest surprise and an unexpected avatar

Thu, 18 Apr 2024 10:11:33 +0000

Nokia cuts orders with China-listed supplier as U.S. pushes 'clean network'