UnionBank’s Q1 profit up 22%
Aboitiz-led Union Bank of the Philippines grew its first quarter net profit by 22 percent year-on-year to P2.6 billion, driven by a strong growth in earnings from lending activities. This…
A flood of business bankruptcies likely in coming months
NEW YORK — The billions of dollars in coronavirus relief targeted at small businesses may not prevent many of them from ending up in bankruptcy court. FILE – In this…
Visitor arrivals to Asia Pacific forecast to drop 32%
Image: Michal Krakowiak/Istock.com via AFP Relaxnews New industry figures predict a drop of 32% in international visitors to Asia-Pacific region this year. In a revised forecast that takes into account…
German business outlook plunges due to lockdown
An elderly woman with a face mask checks out at a supermarket in Gelsenkirchen, Friday, April 24, 2020. Image: AP/Martin Meissner A closely watched indicator of German business executives’ outlooks…
As SMC’s 66,000 workers get full pay, Ramon Ang says “don’t worry about your jobs”
MANILA, Philippines — Over 66,000 employees, consultants, and contract workers of the San Miguel Corp. will receive their salaries in full despite the work disruption caused by the ongoing coronavirus…
PH biotech group to launch COVID19 treatment by Q3 2020
IG Biotech Group, a coalition of biotech and pharmaceutical experts, aims to bring to the Philippines an antibody-based prevention and treatment for COVID-19 by the third quarter of 2020. The…
SMC earmarks P11.67B for COVID-19 initiatives
SMC president Ramon S. Ang PHOTO FROM SANMIGUEL.COM.PH Conglomerate San Miguel Corp. has earmarked P11.67 billion for COVID-19 response efforts, including the provision of safety nets for its workforce and…
Singapore Airlines extends cancellation of 96% of flights until end-June
Customers whose flights were cancelled by SIA or SilkAir will retain the full value of the unused portion of their tickets as flight credits. The Straits Times/Asia News Network/LIM YAOHUI…
BSP chief predicts recession, followed by Q4 recovery and strong 2021
MANILA, Philippines – The Philippines’ top monetary manager expects the local economy the enter a recession over the next six months before recovering in the fourth quarter, and entering an…
China weighs new fiscal stimulus plan
A teller counts cash at a bank branch in Hangzhou, capital of East China’s Zhejiang province. Photo by Hu Jianhuan/China Daily/Asia News Network BEIJING — China is close to unveiling…