BREAKING NEWS: Business (2)

PH returns to offshore debt market with US dollar, euro bond offers

Thu, 23 Jan 2025 17:32:54 +0000

MANILA, Philippines — The Philippine government will return to the international debt market early into the year with benchmark-sized issuances of global and euro bonds this week. The Marcos administration is eyeing to raise at least $500 million via a dual-tranche offering of US dollar denominated bonds. The government also announced a sale of benchmark-sized

UK fintech Revolut sees PH as gateway to Asean

Thu, 23 Jan 2025 17:22:10 +0000

MANILA, Philippines — A global fintech firm that boasts of more than 50 million customers worldwide is interested in entering the Philippines, which would be its gateway to the broader Asean market. In a statement, the Department of Finance (DoF) said Revolut, which is also a licensed digital bank in the UK and Europe, has

BCDA, PhilTower sign agreement on tower construction study

Thu, 23 Jan 2025 14:52:24 +0000

MANILA, Philippines — The Bases Conversion and Development Authority (BCDA) on Wednesday said it signed an agreement with PhilTower MIDC, to conduct a feasibility study on putting up more communication towers in key properties of the former to improve connectivity in those areas. The BCDA said it signed the memorandum of understanding with the joint

Turkey hints at end of Israel trade embargo

Thu, 23 Jan 2025 14:43:06 +0000

In the wake of the Gaza ceasefire, Turkish President Recep Tayyip Erdogan's focus has switched to Syria.

CLI to make Luzon debut in 2026

Thu, 23 Jan 2025 14:35:37 +0000

MANILA, Philippines — Visayas and Mindanao-focused developer Cebu Landmasters Inc. (CLI) will spend P12 billion on its Luzon debut next year, beginning with a horizontal development in the south. CLI chair and CEO Jose Soberano III told reporters on Wednesday that their planned housing development would span 50 to 100 hectares and have up to

DA reimposes import ban on poultry products from South Dakota

Thu, 23 Jan 2025 14:01:29 +0000

MANILA, Philippines — The Department of Agriculture (DA) has reimposed an import ban on poultry products from South Dakota in the United States after receiving reports of outbreaks of H5N1 avian influenza. According to the Memorandum Order (MO) No. 4 signed by DA Secretary Francisco Tiu Laurel Jr. on Wednesday, the ban covered the importation

Japan’s exports hit record high in 2024, but trade deficit continues

Thu, 23 Jan 2025 13:57:26 +0000

TOKYO — Japan saw record-high exports last year, as its annual trade deficit declined 44% from the previous year, the Finance Ministry reported Thursday. The trade deficit, which measures the value of exports minus imports, totaled 5.3 trillion yen ($34 billion), according to government data, as imports ballooned on the back of rising energy costs

Germany’s crisis-hit economy casts shadow over election

Thu, 23 Jan 2025 13:27:43 +0000

Lüdenscheid, Germany — Auto industry jobs have long been the lifeblood of the German town of Luedenscheid but now, a trade union official says, the sector’s woes have sparked fears it will turn into an “open-air industrial museum”. Insolvencies and layoffs have cast doubt on the town’s future prosperity, echoing wider anxieties in Europe’s biggest

Nidec eyes more acquisitions following contentious bid for Makino

Thu, 23 Jan 2025 13:05:37 +0000

BOJ set to vote for rate hike to 0.5% on Friday

Thu, 23 Jan 2025 13:05:37 +0000

NFA seeks P9 billion additional budget to increase rice buffer stock

Thu, 23 Jan 2025 12:50:07 +0000

MANILA, Philippines — The National Food Authority (NFA) is seeking an additional budget of P9 billion this year to cover the additional cost of increasing its buffer stock, as mandated by the amended Rice Tariffication Law. Republic Act No. 12078, the amended RTL signed by President Ferdinand Marcos Jr. last December, now requires the NFA

Energean signs $2b Dalia power plants gas deal

Thu, 23 Jan 2025 12:45:00 +0000

Energean has signed a binding memorandum of understanding to provide 12 billion cubic meters of natural gas to Dalia Energy's Dalia and Eshkol power plants.

Most Asian markets extend AI-fuelled rally

Thu, 23 Jan 2025 12:06:30 +0000

China — Asian equities mostly rose Thursday, cheered by another tech-fuelled run-up on Wall Street after Donald Trump’s huge AI investment announcement, as traders assessed the outlook for the next four years under the new president. Shanghai led the winners, eating into year-to-date losses after China unveiled a fresh batch of measures aimed at boosting

DITO CME on track to profitability

Thu, 23 Jan 2025 11:48:56 +0000

MANILA, Philippines — The parent company of DITO Telecommunity (DITO) is on track to reach profitability by 2027 as it projects a rise in average spending per user because of heightened data usage while its enterprise business gains traction. Leo Venezuela, DITO CME Holdings chief financial officer (CFO), told reporters last week they were expecting

Sensex gains 115 pts on buying in IT, consumer stocks

Thu, 23 Jan 2025 11:37:07 +0000

From the Sensex pack, UltraTech Cement, Mahindra & Mahindra, Sun Pharmaceutical, Zomato, Tech Mahindra, Tata Steel, Tata Motors, Titan, ITC and Bajaj Finance were the major gainers.In contrast, Kotak Mahindra Bank, HCL Technologies, PowerGrid, Reliance Industries, State Bank of India, Hindustan Unilever, IndusInd Bank, Nestle India and Axis Bank were among the laggards.

This economist survived a wildfire. Now she's taking on California's insurance crisis

Thu, 23 Jan 2025 11:30:00 +0000

An economist's harrowing escape from fire, and her big ideas to rescue California from its insurance doom spiral.

(Image credit: San Francisco Chronicle/Hearst Newspapers)

DA eyes partnership with retail chains to expand rice distribution

Thu, 23 Jan 2025 11:23:12 +0000

MANILA, Philippines — The Department of Agriculture (DA) is eyeing the country’s major retail chains to distribute affordable rice nationwide, emphasizing their crucial role in reaching many consumers. A statement on Thursday said that DA Secretary Francisco Tiu Laurel Jr. met with representatives of major retail chains on Tuesday to discuss the initiative. READ: Gov’t

US sanctions hit Russian oil supply to India

Thu, 23 Jan 2025 11:17:08 +0000

The wide-ranging sanctions imposed by the US on the Russian oil sector have started to dent near-term oil flows to India with state-owned Bharat Petroleum Corporation Ltd (BPCL) saying not enough cargoes are available for March.

Maruti to hike prices by up to Rs 32,500 from feb 1

Thu, 23 Jan 2025 10:56:28 +0000

Car market leader Maruti Suzuki India on Thursday said it will hike prices by up to Rs 32,500 across various models from February 1 to partially offset the rise in input costs.Due to rising input costs and operational expenses, the company plans to increase car prices, starting February 1, 2025, Maruti Suzuki India said in a regulatory filing.

Political crisis hits South Korea growth — central bank

Thu, 23 Jan 2025 10:50:41 +0000

Seoul, South Korea — South Korea’s economic growth slowed in the last quarter of 2024, data from the central bank showed Thursday, as the country struggled with the fallout from impeached President Yoon Suk Yeol’s brief declaration of martial law. “GDP in the fourth quarter expanded 0.1 percent quarter on quarter and 1.2 percent on

McGrath promises EU action against social media platforms ‘amplifying’ political content to influence elections

Thu, 23 Jan 2025 10:29:57 +0000

EU justice commissioner says bloc’s Digital Services Act will be used to prosecute social media that are artificially boosting political material to sway voters

SRA to issue rules on local sugar purchase program

Thu, 23 Jan 2025 10:22:41 +0000

MANILA, Philippines—The Sugar Regulatory Administration (SRA) may issue an order this month governing the second voluntary purchase of locally produced raw sugar in exchange for a guaranteed spot in the government’s importation programs. In the draft order, the SRA is allowing eligible traders to acquire 300,000 metric tons (MT) of local raw sugar to secure

Shekel hits two-year strongest against US dollar

Thu, 23 Jan 2025 10:11:49 +0000

Bank of America sees the Israeli currency continuing to strengthen if the ceasefire agreements are fully implemented.

Solar power surpasses coal in EU for first time in 2024 — report

Thu, 23 Jan 2025 10:09:05 +0000

Paris, France — Solar power overtook coal in European Union electricity production for the first time in 2024, with the share of renewables rising to almost half the bloc’s power sector, according to a report released Thursday. Gas generation, meanwhile, declined for the fifth year in a row and fossil-fuelled power generation dipped to a

U.S. top diplomat vows to ensure stability in Indo-Pacific: Japan FM