Shell takes $22 billion hit on lower oil, gas prices
LONDON — Energy producer Royal Dutch Shell warned Tuesday it will slash the value of its assets by $22 billion to account for lower oil and gas prices amid the…
Mainland China allows cross-border wealth flows with Hong Kong, Macau
HONG KONG — The Chinese mainland moved to further deepen its economic ties to Hong Kong, allowing two-way, cross-border purchases of wealth products. As per detailed announced, a pilot program…
Century Pacific to double business in 5 years, again
The General Santos manufacturing facility of Century Pacific Food Leading canned food producer Century Pacific Foods Inc. (CNPF) – one of the few business groups that are booming during this…
PH debt further rose to new high of P8.89 trillion in May
MANILA, Philippines — With more foreign loans and domestic borrowings availed in May to finance the fight against COVID-19, the national government’s outstanding debt stock further climbed to a fresh…
‘Benign’ June inflation seen as lower LPG, electricity costs offset rising fuel, rice prices
MANILA, Philippines — The pace of price increases in the local economy likely stayed “benign” in June as rising petroleum and rice prices were likely offset by cheaper cooking fuel…
35-day T-bill rate fell to lowest-ever after hefty BSP easing
MANILA, Philippines — The Bureau of the Treasury on Tuesday sold P15 billion in 35-day T-bills at 1.684 percent, the lowest-ever rate for the short-dated securities revived at the height…
COVID-19 lockdown forced most taxpayers to settle dues online
MANILA, Philippines — Social distancing and transportation restrictions during the COVID-19 lockdown have forced the majority of taxpayers to settle their dues digitally, with over three-fourths of the internal revenue…
Asian shares rise after Wall Street rally, strong housing data
TOKYO — Asian shares rose Tuesday, cheered by a rally on Wally Street reflecting some optimism over stronger than expected economic data, despite widening coronavirus outbreaks. People wearing a face…
Fruitas’ Q1 profit up 41%
Leading local multi-brand kiosk operator Fruitas Holdings Inc. (FHI) grew its first quarter net profit by 41 percent year-on-year to P14.6 million on the back of higher margins from price…
Bankers group vouches for integrity of PH banks
The Philippine financial system is “sound” and “very strict” rules are in place when it comes to the issuance of bank certifications, the Bankers Association of the Philippines (BAP) assured…