Business

As part of efforts to streamline the organizational structure of the Lopez Company by cutting the number of public holding entities, Lopez Holdings Inc. will exit the local stock exchange. Surprisingly, The Lopez Holdings told the local stock exchange that the firm will voluntarily delist until First Philippine Holdings Corp. (FPH), its power arm, completes the acquisition of up to …

This time in Zamboanga City, not even the coronavirus pandemic that emptied shopping centers could deter retail giant SM Supermalls from opening another outlet, as the organization aims to take advantage of travel restrictions to attract shoppers. Sy-led SM Prime Holdings Inc., the consolidated property arm of the SM Group, said in a statement sent to the stock exchange on …

The Department of Tourism condemned the reckless mass assembly of Halloween parties in an institution on the island of Boracay. In view of this, Secretary of Tourism Bernadette Romulo-Puyat previously sent a video showing a Halloween party that took place in Boracay at Casa de Arte, Sitio Cagban, Barangay Manoc-Manoc. Visitors attending the social event were seen not practicing obligatory …

KUALA LUMPUR -Malaysia’s Top Glove, the world’s largest rubber glove manufacturer, said Wednesday that due to an outbreak of the coronavirus, supply disruptions at its factories may drive glove prices up. After nearly 3,000 employees tested positive for the virus, the company said it had shut down 20 of its factories in an area outside Kuala Lumpur in phases since …

Philippine Airlines is planning a major restructuring of its activities, which supposedly involves running to court to request compensation from paying creditors and holding the airline afloat. The declaration of Dominguez was accompanied by that of PAL, which said that a comprehensive plan for recovery and restructuring is ongoing, all but suggesting plans to seek court involvement. Strictly speaking, after …

It seems that digital companies based in the United States (US) that operate in several countries including Indonesia, such as streaming services Netflix, social media Facebook, digital music streaming Spotify, also giant e-commerce Amazon, cannot yet be charged digital tax in the near future. This was stated by Minister of Finance Sri Mulyani who said that Indonesia and the major …

MANILA – Megawide Construction Corporation, the developer of both Clark and Mactan-Cebu airports bags the proposal to rehabilitate the Ninoy Aquino International Airport (NAIA). The new contractor together with India-based GMR Infrastructure Limited (Megawide-GMR) has been officially given the onsortium the original proponent status (OPS) for the development of NAIA. Megawide GMR also built the passenger terminals of the Clark …

MANILA – San Miguel Corporation (SMC) and the Department of Public Works and Highways (DPWH) has officially opened the final section of Tarlac-Pangasinan-La Union Expressway (TPLEX). The 89.21-kilometer TPLEX aims to speed up travel to and from Northern Luzon. The final section is an 11-kilometer segment that will reduced the travel time from Metro Manila-to-Baguio to just 3 1/2hrs from …

KUALA LUMPUR – Former prime minister Najib Abdul Razak was allowed by the High Court to attend Parliament this afternoon and deliver his speech there. High Court judge Justice Collin Lawrence Sequerah allowed trial over 1Malaysia Development Berhad (1MDB) funds to end early and just decided to sit through the customary lunch break after receiving a letter from the Dewan …

KUALA LUMPUR – CIMB Bank Bhd and CIMB Islamic Bank Bhd (CIMB) has announced two new digital solutions for customers and small and medium enterprises (SMEs) to improve accesibility to the company’s offering. The two online solutions includes an online-to-branch application process for individual banking customers and the Biz Financing Portal for small and medium enterpises (SMEs) In a statement, …