The Philippines is hoping to attract more foreign retailers with the passage of amendments to the Retail Trade Liberalization Act. — BLOOMBERG By Charmaine A. Tadalan, Reporter A PRIORITY measure aimed at further opening up the retail sector to foreign companies hurdled the Senate Committee on Trade, Commerce and Entrepreneurship on Monday, although a local […]Read More

People are slowly returning to malls in the Philippines despite the rise in the number of coronavirus infections. — PHILIPPINE STAR/MICHAEL VARCAS THE Philippine economy’s recovery will only likely pick up by the second quarter of 2021 due to delays to its fiscal stimulus and lapses in controlling the pandemic, according to an analyst. “We […]Read More

Demand for air travel is expected to remain low as the pandemic drags on. — BLOOMBERG PHILIPPINE airlines are unlikely to bounce back to their pre-pandemic passenger volume in 2021, Fitch Ratings said, as the continued spread of the coronavirus disease 2019 (COVID-19) in the Philippines remains a “high risk.” In its latest non-rating action […]Read More

BW FILE PHOTO THE Senate Committee on Banks and Financial Intermediaries on Monday approved the measure that will allow financial institutions to offload bad loans to asset management companies. The passage of Senate Bill No. 1849, the “Financial Institutions Strategic Transfer (FIST) Act,” is being pushed in anticipation of an increase in nonperforming assets (NPA) […]Read More

WWW.FCASH.PH THE Securities and Exchange Commission (SEC) has revoked the license of an operator of two online lending platforms over complaints of alleged debt collection harassment. In a statement on Monday, the commission said it canceled the certificate of authority of FCash Global Lending, Inc., the operator of Fast Cash and Fast Cash Loan, after […]Read More

BW FILE PHOTO DENNIS A. UY’s Udenna Corp. on Monday revealed its plan to fully take over the operations of the country’s sole natural gas field in the West Philippines Sea. This comes as Shell Philippines Exploration B.V. (SPEx) disclosed its plan to sell its 45% interest in the Malampaya gas-to-power project under Service Contract […]Read More

WWW.CEBULANDMASTERS.COM/ LISTED property developer Cebu Landmasters, Inc. (CLI) recently completed a P1.2-billion three-tower residential condominium in Mindanao, turning over more than half of its units to owners. The Mesaverte Residences in Cagayan de Oro (CDO) City is the third completed project under the company’s mid-market Garden series, which mainly contributed to its first-semester revenue of […]Read More

WWW.GLOBAL-IMI.COM A UNIT of Ayala-led Integrated Micro-Electronics, Inc. (IMI) started trading at the New York Stock Exchange, where its shares fell at the opening. Display solutions supplier VIA Optronics AG offered 6.25 million American depositary shares (ADS) at $15 apiece on Friday, its parent told the local bourse. It is targeting to raise up to […]Read More

A DIGITAL rendition of the planned commercial development in Camella Northpoint Davao. DAVAO CITY — Camella Condominiums, a unit of Vista Land and Landscapes, Inc., is getting ready to develop the commercial component of its five-building condominium complex in Davao City. “We are almost done with the residential portion and the next phase of Northpoint […]Read More

THE JOLLIBEE GROUP is eyeing to open 100 more Tim Ho Wan restaurants in China by 2025 after making its debut in the country last week. “We are excited to grow the Tim Ho Wan brand in mainland China as we leverage on our established network here and knowledge in food-service,” said Jollibee China Chairman […]Read More