SEA Diner buys into Del Monte PH
Campos family-led food conglomerate Del Monte Pacific Ltd. (DMPL) has consummated a deal to sell 12 percent of its Philippine business to SEA Diner Holdings Pte Ltd , a Singapore-based…
Investors turn cautious as pledges drop by 70%
Investors pulled back from their usual aggressive pitch, as pledges received by the Board of Investors (BOI) in the first four months of the year dropped by more than 70…
Pandemic could push Macy’s to losses exceeding $1 billion
In this March 30, 2020 file photo, bicyclists pass in front of a closed Macy’s department store in Santa Ana, California. Macy’s warned Thursday, May 21 that it could lose…
AstraZeneca secures orders for virus vaccine under testing
People commute on London Bridge during the morning rush hour after the introduction of measures to bring the country out of lockdown amid the coronavirus pandemic, in London, Wednesday May…
IC to regulate insurers’ dividend payouts to conserve capital
To conserve insurers’ capital amid the COVID-19 crisis, the Insurance Commission (IC) will regulate dividend payouts this year. Insurance Commissioner Dennis B. Funa issued Circular Letter (CL) No. 2020-66 on…
BSP reminds banks: No interest on unpaid interest during lockdown
The central bank on Thursday (May 21) reminded lending institutions that they were prohibited from charging interest on interest, fees and charges — such as late payment fees — on…
AstraZeneca obtains $1B from US to help fund coronavirus vaccine
LONDON — British pharmaceuticals group AstraZeneca on Thursday said it had obtained more than $1.0 billion (0.9 billion euros) from the United States to help fund the production of a…
DBM to submit P4.18-trillion 2021 budget proposal on July 20
MANILA, Philippines – The Department of Budget and Management (DBM) will submit for Congress’ consideration the proposed P4.18-trillion 2021 cash-based national budget on July 20, when President Duterte delivers his…
DOF orders LGU treasurers to report COVID-19 impact on local coffers
MANILA, Philippines – The Department of Finance (DOF) has ordered local treasurers to report how the COVID-19 pandemic impacted on local government units’ (LGUs) coffers so far. Through the DOF-attached…
BSP bats for FIST law to protect PH financial system after pandemic
The central bank will provide the local banking system with the support it needs to insulate itself from a buildup of bad loans that may result from the ongoing COVID-19…