Author: Marcel Woo

Flag carrier Philippine Airlines (PAL) will jumpstart the holiday season with the resumption of more domestic routes from Cebu to Luzon and Mindanao this December. From December 15, 2023, PAL will operate daily flights between Cebu and General Santos City, as well as daily flights between Cebu and Legazpi’s Bicol International Airport in Daraga, Albay. From December 16, 2023, PAL will resume regular thrice weekly flights between Cebu and Ozamiz City. “We look forward to flying more passengers and creating more healthy connections through the resumption of our Cebu-General Santos, Cebu-Legazpi and Cebu-Ozamiz routes, in time for the peak holiday…

Digital solutions platform Globe has increased its roster of sites in Luzon and Visayas running on renewable energy as it pursues its goal to reduce carbon emissions. Globe recently partnered with ACEN, the renewable energy platform of the Ayala Group, in shifting 10 more facilities located in Cavite, Cebu, Quezon City, Manila, Marikina, and Laguna to clean energy, raising to 24 the total number of high-energy utilization facilities now running on renewables. Aside from The Globe Tower in Taguig, the company has other facilities already running on green energy: six in Quezon City, five in Cavite, three in Cebu, two…

Shopee, the leading e-commerce platform in Southeast Asia & Taiwan, announced its launch of the 6.6-7.7 Mid-Year Sale with exclusive deals and special offers for Visayan Shoppers. With online shopping now becoming integral to the lives of Filipinos, Shopee has established an even stronger presence in Visayas in order to give more shoppers in the region access to convenient, rewarding, and seamless shopping experiences. “We are thrilled to launch the 6.6-7.7 Mid-Year Sale here in Cebu. Our double day campaigns have become something that shoppers look forward to, and we want more Pinoys to experience fun, excitement, and affordable deals…

Leading fiber broadband provider Converge ICT Solutions Inc. (PSE: CNVRG) is the only Philippine company which has been added in the highly-watched MSCI Global Standard Indexes in its latest rebalancing announced on May 12, 2022 in Geneva, Switzerland, according to a Philippines Today report The MSCI Global Standard Indexes is an international equity index which tracks stocks across 33 markets. The latest additions will take effect on May 31, 2022. With 1,539 constituents, the index covers approximately 85% of the free float-adjusted market capitalization in each country. “Our inclusion in the global benchmark, the MSCI, is yet another testament to…

As an industry that connects the country and levels the playing field, e-commerce empowers businesses to build their direct-to-consumer platform, especially MSMEs and start-ups. This democratization has resulted in the doubling of the e-commerce market last year and an expected market growth to US$24 billion (PHP1.2 trillion), or 5.5% of GDP, by 2022. To help entrepreneurs get ahead of the curve and set them up for success, LOCAD CEO and co-founder Constantin Robertz revealed important trends in their seminal whitepaper Key E-Commerce Trends of 2022, which was discussed in the digital event “E-Commerce Trends 2022: What Online Entrepreneurs Need to…

Today, around 4.7 billion active internet users across the world, and 25% of them use a VPN, for different reasons. A VPN is just a private network that help make your connection, between your device (mobile, laptop or tablet) and the Internet, more secured, by encrypting the traffic. Let’s discover three reasons why VPNs can be useful when you browse the web. VPN Secures Your Privacy VPN Keeps Your Online Activity Secured Unbeknown to you, a website or an application can keep a record of your online activities, but also your location. Your data can be analysed by your ISP…

The Philippines fall behind its ASEAN counterparts in critical health outcomes and access indicators. This is according to a discussion paper published by state think tank Philippine Institute for Development Studies (PIDS). PIDS Research Fellow Valerie Gilbert T. Ulep and PIDS Research Analyst Lyle Daryll D. Casas said “this reflects the longstanding challenges in terms of health financing, health service delivery, governance, and health human resources.” Ulep and Casas pointed out that health systems must have sufficient health facilities offering different types and levels of health services. However, this is not the case in the Philippines. Hospital beds are limited.…

Lufthansa Technik Philippines (LTP), the country’s leading provider of maintenance, repair, and overhaul (MRO) services, officially announced the construction of its latest hangar at the MacroAsia Special Economic Zone, Villamor Airbase, Pasay City. The new hangar, dubbed Hangar 1A, will be an exact replica of the existing Hangar 1, which currently services aircraft of various airlines, including the national carrier airline, Philippine Airlines and international lines like British Airways, Korean Air, Asiana Airlines, and Saudi Arabian Airlines. With a total area of 9,000 square meters, the addition of Hangar 1A in LTP’s facility will enable the MRO company to service…

Commercial real estate services firm Colliers International has announced the appointment of Ana Ballesteros as head of the firm’s Workplace Solutions business in South Asia based in Singapore, with effect from 1 April, 2019. With a background in architecture and over 15 years of international experience in design, infrastructure, project management, facilities and strategy planning across EMEA, APAC and The Americas, Ana is well versed in the cross-cultural complexities within these businesses. “Ana’s appointment highlights Colliers’ ongoing commitment to strengthening our geographic leadership and providing a best-in-class workplace solutions platform to domestic and international clients in our rapidly growing South…

At least 3,500 exhibitors from 23 countries and region are participating in the Hong Kong Trade and Development Council (HKTDC) Electronics Fair (Spring Edition), dubbed the largest spring electronics event in Asia. The event, which runs from 13 to 16 April, is held in concurrent with the HKTDC International Expo and both organized by HKTDC at the Hong Kong Convention and Exhibition Centre. The exhibitors are showcasing an assortment of cutting-edge technologies and smart products at fairs, including innovative solutions and products presented by start-ups. For this year’s electronics fair, the HKTDC introduced the Startup zone to feature innovative technologies,…

Transport group Pinagkaisang Samahan ng mga Tsuper at Operators Nationwide (PISTON) and other transport coalition said today there is no stopping the nationwide transport strike on Monday. PISTON’s George San Mateo said the group is planning to cripple transport system in Cagayan and Isabela province in Region 2, Laguna, Bicol particularly Sorsogon, Albay Camarines Sur, Baguio, Iloilo, Aklan, Capiz, Negros Occidental, Cebu, Leyte, Northern Mindanao particularly Cagayan de Oro, Bukidnon, General Santos and the entire Metro Manila. PISTON estimates about 200,000 public utiliy jeepney (PUJ) drivers and operators joining the nationwide strike, saying the public should prepare for possible inconvenience.…

Griffith Asia Institute has linked up with the EWHA Womans University in Korea to highlight challenges in front of women achieving leadership roles across the Asian region. The one-day policy forum in Seoul set on September 12 aims to develop an effective research agenda for the improved representation of women in areas like business and politics. The forum is expected to uncover insights also relevant in an Australian context. “While the election of Park Geun-hye, the first female president of South Korea, was a considerable turning point in Korean politics, women on the whole are still widely underrepresented in a…

Australia’s Smartgroup Corporation has announced that it has entered into an agreement to acquire 100% of Autopia, a Sydney-based company that provides novated leasing to a corporate client base for $36 million. The acquisition represents an implied EV/FY2016 EBITDA of approximately 6.5×1 and is estimated to result in approximately 7% EPS accretion in CY2016 on a pro-forma NPATA basis. The acquisition is funded by new debt facilities, existing cash reserves, and $250,000 of Smartgroup shares to be issued to management shareholders of Autopia. Smartgroup completed the transaction Monday, and accordingly, ownership of Autopia is effective immediately. Autopia is expected to…

Emperador Inc., the world’s largest brandy company and the Philippines’ largest liquor conglomerate, recorded nearly P9 billion in consolidated revenues in the first quarter of 2016, with net income amounting to P1.4 billion. In a disclosure to the Philippine Stock Exchange, Emperador Inc (PSE:EMP) said the first quarter of this year also marked a significant milestone with the company taking over 286-year old Bodegas Fundador from Beam Suntory. Emperador and Fundador brandy production facilities, combined, make the company the largest brandy entity in the world. Read Also: Emperador (PSE:EMP) Buys Fundador for US$291 Million “We have an unprecedented and compelling ownership of vineyards,…

A China-led consortium of investors has reportedly acquired the Chicago Stock Exchange (CHX), one of the oldest stock exchanges in the United States, for a still undisclosed amount, although sources said the value of CHX could be less than US$100 million. In an interview with Reuters, John Kerin, CEO and Chairman of the 134-year-old stock exchange, confirmed the acquisition by the consortium of investors led by Chongqing-headquartered Casin Enterprise Group but he stressed that the group will allow CHX to continue executing its strategy. “They like our strategy, and they want us to continue to execute on it,” Kerin told…

The Philippine Bank of Communications (PBCom) has announced the appointment of Mr. Roberto Juanchito T. Dispo as Adviser to the Board of Directors of the Bank effective immediately. Dispo is a seasoned investment banker with extensive experience in capital raising, investments, strategic acquisition, and asset management. He also previously held various posts in the Department of Finance and Bureau of Treasury, and is credited for the key reforms in the debt and capital markets. He was also the former President of Money Market Association of the Philippines and is currently the Chairman of Capital Markets Development Committee of FINEX. The…

Phoenix Petroleum Philippines, Inc. held a bell ringing ceremony at the Philippine Stock Exchange (PSE) on Friday to list its Series 3A and 3B preferred shares. The oil company was able to raise P2 billion from its follow-on offering. “I would like to congratulate Phoenix Petroleum Philippines, Inc. on its follow-on offering. The proceeds of this fund raising activity will support Phoenix Petroleum in its aggressive expansion program that includes the construction of additional retail stations nationwide and storage facilities in Cebu and General Santos,” said PSE Chairman Jose T. Pardo in his welcome remarks during the ceremony. Shown in…

CAIRO, Egypt – The Commercial International Bank (Egypt) has informed the Egyptian Exchange that it has finalized the procedures of selling the bank stake as well as Legal and General Company amounting to 45 percent and 55 percent, respectively, in Commercial International Life Insurance Company (CIL) to AXA Company. In a disclosure, the bank said it will offer exclusive distribution services to AXA through a 10-year partnership agreement. “This alliance is derived from CIB’s commitment towards its clients to continue offering them excellent value-for-money insurance products,” the bank disclosed. AXA, which is one of the leading global insurance players, comes…

SHANGHAI – A new breed of well-educated young Chinese are now buying stocks but experts warn of risky investments as most of these young people in China are inexperienced. Experts are wary about these young Chinese stock investors who are still not fully conscious about their investments and the risk involved in short-term investments. According to the data released by China Securities Depository Company showed that new stock accounts in the first quarter of the year increased by 433 percent year on year to reach almost 8 million. Of the total new investors in the first three months of the…

Chevron Corporation, an American multinational energy corporation, is selling its 50 percent stake in Caltex Australia Ltd, an Australian oil refiner, for about US$4.62 billion. Sources said the continuous global oil price decline has forced the California energy company to sell its stake in Caltex Australia. Sources said the stake is worth US$4.62 billion, in what can be considered as Australia’s biggest-ever block trade. Caltex Australia is 50 percent owned by Chevron and 50 percent owned by Australian shareholders. It operates two petroleum refineries in Australia – one at Kurnelly in Sydney and another at Lytton in Brisbane. Without giving…