Business News
Aboitiz InfraCapital, Inc. (AIC), the infrastructure arm of the Aboitiz Group, is prepared to modernize its second Philippine gateway following the signing of the concession agreement to upgrade, operate, and maintain Laguindingan International Airport in Misamis Oriental. “Laguindingan International Airport is a pivotal milestone in our strategic mission to elevate the country’s aviation infrastructure. It…
US-based coffeehouse chain Starbucks saw its sales decline for the third consecutive quarter, according to its financial results statement released Wednesday. Global comparable store sales declined 7 percent, said the statement. While North America store sales declined 6 percent, China store sales dove 14 percent, and international store sales fell 9 percent, according to the…
Creating high-quality yet shareable content and moments has never been easier with Galaxy AI, now available in Samsung’s Galaxy S24 FE and the Galaxy Tab S10+ | Ultra. From AI applications that bring your imagination to life to functions that take your content creation and artistry to the next level, get to know these Galaxy…
In an effort to enhance the country’s international collaboration and alignment with global best practices, the Bureau of Customs (BOC) participated in the 244th and 245th sessions of the World Customs Organization (WCO) Permanent Technical Committee (PTC), which were held in Brussels, Belgium, from October 23 to October 25, 2024. These meetings operate under the…
The Bank of Japan (BOJ) on Thursday decided to keep its policy interest rate steady at 0.25 percent, according to an official statement. The Japanese economy is likely to keep growing at a pace above its potential growth rate, it said. The bank said annual inflation is likely to be at 2.5 percent for fiscal…
The Bangko Sentral ng Pilipinas (BSP) expects inflation for October 2024 to fall within a range of 2 percent to 2.8 percent, citing increased costs for food and fuel as the main contributors to inflationary pressures. “Higher prices of food commodities, such as vegetables, fruits, and fish, as well as the increase in prices of…
Finance Secretary Ralph Recto urged top British companies to invest in the Philippines, highlighting mutually beneficial partnerships that benefit both investors and the country’s long-term development goals, including poverty reduction. According to a news release on Thursday, Recto, along with senior Philippine government officials, met with executives of companies including BP Plc, Actis, Global Infrastructure…
The Philippines registered nearly P1.03 billion in foreign direct investment inflows in September, data from the Bangko Sentral ng Pilipinas (BSP) showed. The BSP said net inflows in September were 92% higher ($491.82 million) than the net inflows posted in August 2024 (US$533.95 million). “Transactions on foreign investments registered with the BSP, through authorized agent…
The Bureau of Customs-Ninoy Aquino International Airport (BOC-NAIA) intercepted a parcel containing PhP10.01 million worth of high-grade marijuana, or “kush,” on October 30, 2024. A thorough physical examination revealed 7,154 grams of kush concealed within the parcel, with an estimated street value of P10,015,600. The intercepted drugs were handed over to the Philippine Drug Enforcement…
MPower, the local retail electricity supplier of the Manuel V. Pangilinan-led Manila Electric Company (Meralco), has signed a retail supply agreement with Pepsi-Cola Products Philippines Inc. (PCPPI) for two beverage manufacturing plants located in Muntinlupa City and Sto. Tomas, Batangas. As part of the partnership, PCPPI was also invited to participate in other MPower programs…