Are you ready to take your business across borders? International expansion is a great way for businesses to grow and succeed in new markets. But before you dive into an international market, there are specific steps you need to consider: crafting a strategic plan. Whether it’s determining the competitive landscape of a target country or understanding local customs and regulations, an effective international business plan can lay the foundation for long-term success while also providing guidance on how best to allocate resources and manage risks. But where should one begin? Let’s dive into it! Analyze Potential Markets In today’s global…
Author: Business News Asia
Business News Asia
BusinessNewsAsia.com's Editorial team is composed of experienced professional journalist and financial professionals who have an average of 10 years of experience in financial and breaking news reportage.
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Solidifying her reputation as one of the country’s leading women entrepreneurs and tycoons, Converge President and Co-Founder Grace Y. Uy receives recognition once again in the acclaimed Stevie Awards for Women in Business, winning the Gold Stevie for Woman of the Year – Technology category. The Stevie Awards for Women in Business honors women entrepreneurs, executives, employees, and the organizations they run for their impact on and contribution to their respective industries. Since Converge was founded in 2007, Uy committed herself together with her husband, Converge CEO and Co-Founder Dennis Anthony Uy, to uplifting the unserved and underserved, pledging to…
The annual tradition of paying tribute to overseas Filipinos (OFs) and their families during the holiday season continues, and this time in Cebu City. During a media briefing on December 9, SM & BDO announced that the much anticipated “Pamaskong Handog” is back and will have star-studded and exciting activities for the OFWs in Cebu. Present during the media briefing were BDO Senior Vice President BDO Remittance Genie T. Gloria, and SM Supermalls vice president for Mall Operations Visayas, Michelle Llanos. Amazing prizes and exclusive perks were given to Overseas Filipino families during the program in the afternoon at the…
In the spirit of giving and spreading holiday cheer, SM Supermalls and BDO Unibank, Inc. (BDO) once again bring smiles to the faces of Overseas Filipino families through the 12th Pamaskong Handog event. This year’s celebration, in collaboration with Remitly, promises unforgettable moments for BDO Kabayan and BDO Network Bank Kabayan Savings account holders. Amazing prizes, exclusive perks, and awesome bonding moments await Overseas Filipino families! This year’s heartwarming celebration will be graced by BDO’s long-time endorser Piolo Pascual and the newest addition to the BDO family – social media influencer Small Laude. BDO and Remitly have prepared a ton…
Fiber broadband and technology provider Converge ICT Solutions Inc. has united with businesses around the globe in the call for governments to crack the whip against corruption affecting business communities worldwide. Converge Chief Strategy Officer and Chief Sustainability Officer Benjamin Azada represented the company as he joined other business leaders in signing the Call-to-Action from Business to Governments on the 20th Anniversary of the UN Convention against Corruption (UNCAC). “Corruption remains one of the most harmful threats to sustainable development, causing crippling implications to industries and economies at large. Converge is one with the UN and the business community in…
ESR Group Limited announced that its application for the registration and listing of ESR China REIT (“ESR C-REIT”) <中航易商仓储物流基础设施 REIT > has been received by the China Securities Regulatory Commission <中国证券监督管理委员会> and the Shanghai Stock Exchange <上海证券交易所>. The Manager of the ESR C-REIT is AVIC Fund, a publicly offered infrastructure securities fund. ESR Group is the Sponsor of ESR C-REIT and unitholders in the REIT will benefit from ESR Group’s large portfolio of assets under management and development work-in-progress to provide a pipeline of potential acquisitions for ESR C-REIT. In China, ESR Group manages over 190 assets valued at US$30.8…
ACEN Renewables International Pte. Ltd (ACRI), a subsidiary of ACEN CORPORATION (ACEN) based in Singapore, has signed its first USD100 million green term loan facility from MUFG Bank, Ltd. (MUFG), part of leading global financial institution Mitsubishi UFJ Financial Group (MUFG). This investment will be directed toward the growth and development of ACEN’s renewable energy projects beyond the borders of the Philippines. This green long-term facility is part of ACEN’s strategic expansion into several international markets including Australia, which stands as the company’s largest market outside of the Philippines. The funding aligns with ACEN’s ambitious goal of achieving 20 GW…
CEBU CITY – The SM2SM Run, a highlight in the regional running calendar, is set to return for its 12th year on March 3, 2024, at SM Seaside City Cebu. This much-awaited event promises a blend of excitement and challenging courses for participants of various skill levels. The 2024 edition of the SM2SM Run will feature four distance categories: 4K, 8K, 12K, and 21K, catering to a wide range of runners, from beginners to seasoned athletes. Registration fees for these categories are set at P599 for the 4K, P699 for the 8K, P799 for the 12K, and P999 for the…
Subic Bay Metropolitan Authority (SBMA) Chairman and Administrator Jonathan D. Tan predicts that the P5.5-billion joint venture between the agency and the Harbour Centre Port Terminal Inc. (HCPTI) will spur growth in the port businesses of this premier Freeport. During the inauguration of the Subic Port at the Naval Supply Depot (NSD) here, the 10-year Subic Port joint venture will revitalize the ports, yards, and cargo handling inside this Freeport. The JV also includes the development, operation and management of several ports inside the former US naval base. “Our goal at SBMA is in line with HCPTI’s goal of creating…
A bus operated by Vallacar Transit Inc. (VTI) veered off a ravine on December 5, 2023, at KM 174, Igbucay, Hamtic, Antique, resulting in at least 12 deaths, including nine passengers and three crew members. The accident occurred around 4:30 PM as Ceres bus number 6289, carrying 24 passengers, traveled from Iloilo to Culasi. VTI expressed its condolences to the victims’ families and has pledged to assist with medical and burial expenses. The area where the accident occurred is known for being hazardous, with a history of similar incidents. In response to the tragedy, VTI has temporarily suspended operations of…
Fiber broadband and technology provider Converge ICT Solutions Inc. has stepped onto the global stage to impart its journey toward digital inclusion, and how it contributes in advancing the United Nations’ targets for universal meaningful connectivity. Speaking to the delegates of Telecoms World Asia held in Bangkok, Thailand, Converge Chief Strategy Officer and Chief Sustainability Officer Benjamin Azada shared insights on bridging the digital divide through telecom infrastructure, in line with the company’s commitment to leave no one behind in serving world-class connectivity, especially to the unserved and underserved. “It’s really about using your existing investments in your infrastructure to…
Subic Bay Metropolitan Authority (SBMA) took over on Monday, Aviation Hub Asia, Inc., an aviation services company inside this premier Freeport, for failing to comply with the agency’s lease agreement. According to SBMA Chairman and Administrator Jonathan D. Tan, the SBMA Board of Directors has approved Resolution No. 23-10-0296 that pre-terminates the lease agreement of Aviation Hub Asia on October 3, 2023. The issuance of the resolution from the Board came after the company failed to settle unpaid lease rentals, comply with development commitments, and the non-submission of Performance Bond. The erring company has an outstanding obligation amounting to P19,122,335.97…
Digital solutions platform Globe has logged a new high in stopping websites associated with child pornography, illegal gambling, online piracy, and other malicious content, blocking a total of 404,730 sites and links in the first nine months of the year. The figure marks a substantial 45% hike in barred URLs and domains compared to the 278,555 registered in the same period last year following an upgrade of its filtering capabilities in both mobile and broadband services, underscoring Globe’s commitment to creating a safer online environment. This increase was even more pronounced in the third quarter of the year, where the…
DoubleDragon’s Dragon8 Mall in Divisoria, Manila, has recorded a weekend customer foot traffic of 67,136, with expectations of further increase in the coming days. This surge aligns with the holiday season and is projected to exceed 200,000 daily visitors following the completion of the North–South Commuter Railway (NSCR) urban rail transit project. Strategically located at the corner of Recto Avenue and Dagupan streets, Dragon8 Mall is a six-story commercial hub in Manila’s busiest district. It houses 405 tenants, including popular eateries like Jollibee and Mang Inasal. A new footbridge directly connects the mall to the upcoming Malolos-Tutuban rail line, part…
Moomoo Financial Singapore Pte. Ltd. is offering access to Level 2 market data for Singapore-listed stocks to its users, in addition to the Level 1 market data that it already provides to users. This builds on Moomoo Singapore’s strong partnership with the SGX Group to promote the use of market depth data by retail investors, as well as trading in Singapore- listed stocks. “We are delighted to offer access to Level 2 market depth data for users who are willing to participate in our campaign. As a Singapore-based digitalised brokerage, we recognise the important role we play in increasing vibrancy…
FundSpace, a leading loan aggregator dedicated to facilitating financing for businesses of all sizes, has entered into a strategic partnership with BPC Lending Inc. This move is set to revolutionize the accessibility of financial services to micro, small, and medium-sized enterprises (MSMEs) and individual borrowers across the Philippines. The collaboration marks a significant milestone for the 917Ventures startup company as it continues to broaden its suite of financial products, demonstrating its commitment to empowering economic growth and financial inclusion. With BPC Lending Inc., FundSpace can now offer tailored loan options ranging from PHP5,000 to PHP200,000, addressing the needs of small…
Allied Climate Partners (ACP), the International Finance Corporation (IFC), the Monetary Authority of Singapore (MAS), and Temasek announced today their commitment to establish a groundbreaking green investments partnership. This ambitious initiative, unveiled at the 28th Conference of the Parties (COP28) to the United Nations Framework Convention on Climate Change, aims to address the critical climate finance gaps in Asia, particularly Southeast Asia. Faced with a daunting requirement of $1.7 trillion annually in infrastructure investments until 2030 to sustain growth and meet climate objectives, developing Asia confronts a significant hurdle: many green infrastructure projects remain marginally bankable, struggling to attract commercial…
In a remarkable achievement, Kandaya Resort has been awarded a prestigious plaque of appreciation by the Department of Tourism Central Visayas Office. This honor, a testament to the resort’s unwavering commitment to excellence, marks a significant milestone in its journey. The resort’s team, brimming with joy and gratitude, proudly displayed the plaque, symbolizing not just recognition but also their dedication to providing exceptional experiences to their guests. This accolade acknowledges their significant contributions to the flourishing tourism industry. Kandaya Resort, through this recognition, reaffirms its promise to continue crafting unforgettable experiences for its visitors. The award fuels their enthusiasm for…
A powerful earthquake with a magnitude of 6.9 struck Surigao Del Sur in the Philippines Saturday night, according to the Philippine Institute of Volcanology and Seismology (PHIVOLCS). The tremor occurred at 10:37 PM local time, with its epicenter located at 08.52°N, 126.69°E, approximately 42 km north-northeast of Hinatuan, Surigao Del Sur. The earthquake was shallow, with a depth of only 8 kilometers, which could potentially result in significant damage. High-intensity tremors were felt across various regions, with Intensity V reported in the City of Bislig in Surigao Del Sur and the City of Cabadbaran in Agusan Del Norte. Intensity V…
In a festive blend of charity and pop culture, SM Cares, in collaboration with SM Supermalls and Toy Kingdom, announced the return of their annual Christmas charity initiative, the SM Bears of Joy. This year, the campaign introduces an innovative twist with the launch of its first-ever B-POP (Bear Pop) group, named the Bear Pop Squad. The Bear Pop Squad, a group of specially designed bear idols, aims to connect with fans through relatable storytelling, reflecting the everyday experiences of their audience. This initiative is a nod to the popular K-POP and P-POP phenomena, drawing inspiration from their vibrant communities.…