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PNB net profit up on higher interest income, lower expenses - BusinessWorld Online
PHILIPPINE National Bank’s (PNB) net income rose by 10.39% in the first quarter amid higher interest earnings and decreased provisions and expenses, it reported on Thursday. The bank’s net income stood at P5.31 billion in the first quarter, climbing from the P4.81 billion booked in the same period last year, according to part of PNB’s […]
Underestimating human stupidity - BusinessWorld Online
Yubal Noah Harari’s 21 Lessons for the 21st Century, published in 2018, is indeed a “probing and visionary investigation” into the most imperative, most compelling issues in the 21st century. Equally intriguing are the sub-headings he assigned to each sub themes of the five challenges he identified for this century, namely, technological, political, despair and […]
Bona, 44 years later - BusinessWorld Online
THERE’s a lovely symmetry to having the restored print of director Lino Brocka’s Bona (1980) screened in the 2024 Cannes Classics section, in the same city where the film had its world premiere (at the parallel Director’s Fortnight) decades ago. Feels like a combination homecoming, resurrection, and revelation all at the same time.
No promotion? Ask for a transfer - BusinessWorld Online
I’ve been in my current job for five years and feels unhappy about my career development under my boss. Can I request a transfer to another department? — Tinder Box. It depends on four factors — company policy, vacancy in the other department, your qualifications, and the willingness of the other manager to accept you […]
ACEN Corp. boosts investment in ENEX Energy Corp. - BusinessWorld Online
ACEN Corp. said it has agreed to subscribe to additional shares in its subsidiary ENEX Energy Corp., amounting to P30 million. In a disclosure to the stock exchange on Thursday, ACEN said it signed a contract on April 30 to subscribe to 30 million of ENEX’s non-voting preferred shares priced at P1 apiece. ENEX is a […]
More Filipinos tap BNPL services as credit access remains limited - BusinessWorld Online
THE USE of buy now, pay later (BNPL) services among Filipinos increased in the first quarter from the previous year amid limited access to credit and lending products, according to a study by TransUnion. TransUnion’s Consumer Pulse Study showed that among the Filipino respondents who said they have heard of BNPL, which was at 82% […]
NG debt slips to P14.93 trillion as of end-March - BusinessWorld Online
THE NATIONAL GOVERNMENT’S (NG) outstanding debt slipped to P14.93 trillion as of end-March, the Bureau of the Treasury (BTr) reported. Data from the BTr on Wednesday showed that NG debt stock dipped by 1.67% from the record-high P15.18 trillion as of end-February due to the net redemption of government securities. However, outstanding debt rose by […]
GSIS written insurance premiums rise by 12% in Q1 - BusinessWorld Online
GOVERNMENT Service Insurance System (GSIS) saw its written insurance premiums grow by 12% in the first quarter to P2.98 billion from P2.65 billion, it said on Thursday. “The GSIS General Insurance has issued 52,644 total policies, with total sum insured amounting to P798.4 billion,” the state-run pension fund said in a statement. This resulted in […]
Leviste buys 8.5% stake in ABS-CBN, becomes 2nd-largest shareholder - BusinessWorld Online
SOLAR Philippines Power Project Holdings, Inc. Founder Leandro Antonio L. Leviste has bought an 8.5% stake in ABS-CBN Corp., positioning him as the media company’s second-largest shareholder after the Lopez group. Mr. Leviste bought 76.5 million shares, equivalent to 8.5% of ABS-CBN, through his companies LL Holdings, Inc. and Countryside Investments Holdings Corp., Solar Philippines […]
Greenpeace calls on the government to mitigate the impacts of the climate crisis - BusinessWorld Online
A global environmental organization called on the Philippine government to provide solutions that could lessen the impact of El Niño and La Niña. “We call on our government to ensure measures that will mitigate the impacts of El Niño on our water supply, food production, and power generation,” Greenpeace Philippines said in their statement on […]
Meralco energizes Malinta substation - BusinessWorld Online
MANILA Electric Co. (Meralco) said it has switched on the P170.81-million Malinta Substation in Valenzuela City, aiming to enhance electricity services in the area. The project involved the conversion of the substation’s old 115-kilovolt (kV) conventional single bus switchyard into a modern indoor-type double bus configuration gas-insulated switchgear. Meralco said the new substation will help […]
MPTC expects to bag Indonesia toll project contract in May - BusinessWorld Online
PANGILINAN-LED Metro Pacific Tollways Corp. (MPTC) hopes to secure the contract for its toll project bid in Indonesia next month, a company official said. “We are the preferred bidder. So, we are in the process of negotiating with Jasamarga. Hopefully, we can close the negotiation in one month, [and] be awarded the contract by the […]
PAL income falls in Q1 on higher expenses - BusinessWorld Online
PAL Holdings, Inc., the operator of the flag carrier Philippine Airlines (PAL), saw a 22.6% decrease in its attributable net income for the first quarter (Q1), falling to P3.6 billion from P4.65 billion a year ago, attributed to increased expenses during the period. For the January to March period, the company’s expenses grew to P39.07 […]
Pro-China ‘independent foreign policy’ and other fallacies - BusinessWorld Online
It was probably Jordan Peterson who pointed it out: considering that slavery is immoral, and considering further that the continent that had most of its people enslaved was Africa, and considering, finally, that most of the enslavement was done by their fellow Africans, the question now becomes: is slavery more immoral if those doing the […]
Yields on BSP’s term deposits inch higher amid hawkish Fed - BusinessWorld Online
YIELDS on the term deposits auctioned off by the Bangko Sentral ng Pilipinas (BSP) inched higher on Thursday amid more hawkish signals from the US Federal Reserve. Demand for the BSP’s term deposit facility (TDF) totaled P250.729 billion on Thursday, lower than the P320 billion placed on the auction block but higher than the P250.346 […]
Entertainment News (05/03/24) - BusinessWorld Online
THERE will be a night of food and fun at Bonifacio South Street on May 4, in celebration of Cinco de Mayo. The street’s restaurants and bars — Bolero, Cochi, Tartufo, Bueno, Wong Place, and Wantusawa — will welcome a live DJ and a mariachi band and dancers.
Philippine Seven board OK’s move to reduce board size - BusinessWorld Online
7-ELEVEN operator Philippine Seven Corp. said its board has approved a move to reduce the number of the company’s directors to nine from 11 to optimize governance practices. The amended number of directors is provided under the sixth article of the company’s amended articles of incorporation, Philippine Seven Corp. said in a regulatory filing. “Upon […]
Corona Sunsets Sessions: A celebration of life, love, and sunsets - BusinessWorld Online
Sunsets, sand, and stars: Join us for this epic sunset escapade Mark your calendars and get ready for the event of the year as Corona Sunsets Sessions will be held on the idyllic shores of Newcoast Cove 2 Boracay on May 4, 2024, starting at 3 p.m. This electrifying event promises an unforgettable day filled […]
Proposed Luzon corridor expected to attract more investments from businesses de-risking from China - BusinessWorld Online
AN ECONOMIC CORRIDOR that the United States proposes to put up in the Philippine main island of Luzon would help the country attract American and Japanese companies seeking to reduce dependence on China, according to trade experts.
Triple P Awards launches CommChat Series 2024: 'Sustainability: A Journey from Divergent Paths' - BusinessWorld Online
The International Association of Business Communicators (IABC) Philippines is excited to introduce the CommChat Series 2024, beginning with a webinar titled "Sustainability: A Journey from Divergent Paths." This event sets the stage for a series of discussions leading up to the prestigious Triple P Awards, focusing on sustainability and best practices in Environmental, Economic, Social, and Governance (EESG).
Digital Telecommunications Phils. to hold Annual Meeting of Stockholders on May 27 via MS Teams - BusinessWorld Online
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Think tank backs P690 hike in daily wages - BusinessWorld Online
IBON Foundation said it is proposing a P690 across-the-board increase in daily wages to bring worker pay more in line with the prevailing cost of living. “The National Capital Region has the largest minimum wage of all regions at P610, but this is a bit more than half (51%) of the P1,197 living wage (for […]
Over half of Filipinos in the music industry earn less than P20,000 - BusinessWorld Online
MORE THAN 50% of Filipinos employed in the music industry earn under P20,000 a month, according to a national music stakeholders survey by the Department of Science and Technology-National Research Council of the Philippines (DoST-NRCP). A statement from the DoST-NRCP noted that this amount “almost falls a little over the minimum wage in the National […]
Smart drives increase in 5G data traffic powered by the Philippines' Best 5G Coverage Experience - BusinessWorld Online
As 5G is fast becoming the connectivity of choice among mobile subscribers in the country, leading integrated telco network PLDT Inc (PLDT)'s wireless subsidiary Smart Communications, Inc (Smart) saw a sustained increase in average monthly 5G data traffic in 2023, bolstered by its award-winning 5G mobile network.
Manila lags in safety index list - BusinessWorld Online
The Philippine capital placed 152nd out of 181 cities in the Safety Index by Global Residence Index. Manila got a safety index score of 0.41 out of possible 1, the lowest in East and Southeast Asia. The index measures the overall safety of cities based on various risk factors such as homicide rates, political stability, […]
Sugar farmers proposing safety nets to go with easing of import process - BusinessWorld Online
SUGAR producers are calling for “appropriate safety nets” as the government eases entry requirements for agricultural imports. In a statement, the Sugar Council — composed of three planter federations — urged the government to pursue programs to raise the competitiveness of the sugar industry and the rest of Philippine agriculture. “The removal of the (Sugar […]
Ramping up investments to boost digital economy - BusinessWorld Online
THE PHILIPPINES needs to tighten its cybersecurity laws and increase investments in infrastructure to strengthen the digital sector’s contribution to the economy, analysts said. “Factors for the slower growth pace [of the digital economy] include the lack of access to affordable or reliable internet, low digital literacy, and cybersecurity concerns,” Security Bank Corp. Chief Economist […]
Meralco proceeds with feasibility study on micro modular reactor - BusinessWorld Online
MANILA Electric Co. (Meralco) said it has started conducting a full feasibility study with US-based company Ultra Safe Nuclear Corp. (USNC) for the installation of micro modular reactors (MMR) in the Philippines. “On the formal feasibility study, we will need to deep dive more on the financial safety and other very important parameters as well […]
Volatility may persist after ‘wild’ April for market - BusinessWorld Online
VOLATILE TRADING is expected to continue this month after a rocky April for the Philippine stock market, analysts said. On Tuesday, the Philippine Stock Exchange index (PSEi) dropped by 1.02% or 69.15 points from the previous day to end April at 6,700.49, while the broader all shares index went down by 0.48% or 17.34 points […]
PHL trade talks with UAE expected next week - BusinessWorld Online
THE PHILIPPINES is expected to start the first round of negotiations for a comprehensive economic partnership agreement with the United Arab Emirates (UAE) next week, with a target to wrap up talks within the year, the Trade department said. Undersecretary Allan B. Gepty of the Department of Trade and Industry told reporters that the Philippines […]
Palay production drops 2% in Q1 - BusinessWorld Online
PRODUCTION of palay, or unmilled rice, fell 2% year on year to 4.69 million metric tons (MT) in the first quarter, according to the Philippine Statistics Authority (PSA). The PSA said first quarter output missed its projection of 4.82 million MT, based on the standing crop as of March 1. It added that the harvest […]
MPIC’s CDO water unit seeks quick resolution with water district over unsettled accounts - BusinessWorld Online
Metro Pacific Water unit Cagayan de Oro Bulk Water, Inc. (COBI) said it is seeking immediate resolution with the Cagayan de Oro Water District (COWD) over the latter’s unsettled accounts. “Efforts to reach an amicable solution with Cagayan de Oro Water District (COWD) over outstanding payments and water pricing have been impeded by a lack […]
Not just for the natives - BusinessWorld Online
HAS Filipino cuisine gained global acceptance? Or does the local fare appeal only to the natives? There is an effort by local chefs, including those working abroad, to put local cuisine on the world’s culinary map. Other Asian offerings are already international favorites, including Thai and Vietnamese niches. This is on top of the Chinese […]