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Jollibee embarks on global business restructuring

Homegrown fast-food giant Jollibee Foods Corp. (JFC) is shelling out P7 billion to embark on a “significant” global business restructuringRead More



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PH adds $1.25B to COVID war chest New! 2020-05-29 17:25:31The Philippines secured a total of $1.25 billion in loans from two multilateral lenders last Thursday, beefing up its war chest in the fight against t

BIR to automatically encash tax credits unutilized for New! 2020-05-29 17:20:36The Bureau of Internal Revenue (BIR) will automatically convert unused tax credit certificates (TCCs) into cash after a year to allow the government t

BSP sees steady inflation rate in May New! 2020-05-29 17:15:07The steady increase in fuel prices in May—after dropping sharply in the previous month at the height of the lockdown imposed to fight the corona

SMC operations suffer due to pandemic New! 2020-05-29 17:10:51Conglomerate San Miguel Corp. (SMC) saw a 91-percent year-on-year drop in first-quarter net profit to P1.09 billion as the lockdown measures required

Sumitomo takes 19.2% stake in LRT1 New! 2020-05-29 17:05:21Japanese conglomerate Sumitomo Corp. has acquired a 19.2-percent stake in the company that holds the concession to operate, maintain and extend the 20

Puregold profit shoots up by 16.8% in Q1 New! 2020-05-29 17:00:08Grocery chain ope­rator Pure­gold Price Club Inc. has emerged unscathed from the earnings pressure caused by the new coronavirus disease (COVI

PSEi pushes past 5,800 as market celebrates NCR’s New! 2020-05-29 16:55:04The local stock barometer rallied to the 5,800 mark in heavy volume on Friday as investors anticipated the reopening of Metro Manila after a two-month

Metro Pacific resumes work on big-ticket infra projects New! 2020-05-29 16:50:34The tollroad arm of Metro Pacific Investments Corp. has restarted work on big-ticket projects as the government has eased strict quarantine measures.

Peza insists on status quo in fiscal incentive New! 2020-05-29 16:45:20The Philippine Economic Zone Authority (Peza) has warned against experimenting on new tax breaks in the middle of the pandemic, but the Department of

Finding safety in urban homes New! 2020-05-29 16:40:30In this era of the “new normal,” things that we took for granted in the past have now become essentials. Gardens, balconies and spacious r

Housing for better health New! 2020-05-29 16:35:59Mass housing has always been a challenge in the Philippines. In a country where people continue to flock to the cities for work opportunities and bett

DTI to recommend ‘gradual’ reopening of dine-in restaurants 2020-05-28 23:35:12MANILA, Philippines — The Department of Trade and Industry is set to recommend to the Inter-Agency Task Force on Emerging Infectious Diseas

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Rice stocks readied for lean months 2020-05-28 12:00:00The National Food Authority has begun prepositioning rice buffer stocks nationwide as the lean season for the country’s main staple draws near.

Singapore firm plans to invest in First Gen 2020-05-28 12:00:00Singaporean firm Valorous Asia Holdings Pte. Ltd. is eyeing to invest as much as P7.3 billion in First Gen Corp. as it diversifies into the Philippine

Online schooling 2020-05-28 12:00:00Last Monday, President Duterte announced his decision to suspend all classes until a vaccine is available.

Share prices rise on possible shift to general 2020-05-28 12:00:00The stock market reacted positively yesterday to a proposal to put Metro Manila under general community quarantine.

The digital challenge 2020-05-28 12:00:00Recently, the National Resilience Council (NRC) held its 4th Webinar conference hosted by the Makati Business Club, this time focusing on economic rec

Hot money outflow accelerates in April 2020-05-28 12:00:00Speculative investors continued to skip the Philippines amid the general risk-off sentiment which prompted investors to liquidate their portfolios and

Rules set on equity for firms 2020-05-28 12:00:00The proposed equity infusion by the government for large companies hit hardest by the pandemic will come with conditions meant to promote the prudent

Jollibee loses P1.8 billion in Q1 as stores 2020-05-28 12:00:00Jollibee Foods Corp. expects to incur even higher losses for the rest of the year given the 222.6 percent decline in its first quarter net income.

Sin tax collections down in 4 months 2020-05-28 12:00:00The government’s excise tax collections from tobacco and alcoholic products declined in the first four months following the imposition of liquor

Reforms sought for ‘new normal’ 2020-05-28 12:00:00The country’s economic managers will work on 11 structural reforms over the next 12 months to support the so-called new normal of economic activ

Cigarette smuggling 2020-05-27 12:00:00Unscrupulous cigarette traders are raking it in despite the lockdown, so say my sources.

Farmers decry rice import plan by PITC 2020-05-27 12:00:00The Federation of Free Farmers is questioning the legality of the planned importation of 300,000 metric tons or six million cavans of rice by the Phil

The Standard

Puregold’s profit climbed 16.8% to P1.76b in Q1 2020-05-29 09:40:07Supermarket chain operator Puregold Price Club Inc. said Friday consolidated net income increased by 16.8 percent in the first quarter to P1.76 billio

Rockwell Land reduces 2020 capex by half to 2020-05-29 09:30:06Rockwell Land Corp., the property arm of the Lopez group, said Friday it reduced the planned 2020 capital expenditures by half to P9 billion because o

Poe pushes PPP scheme to help economy rebound 2020-05-29 09:20:05Senator Grace Poe on Friday asked the government to take a second look at public-private partnership arrangement to help the economy rebound from the

Inflation likely picked up in May 2020-05-29 09:10:04The Bangko Sentral ng Pilipinas said inflation likely accelerated to as high as 2.7 percent in May from 2.2 percent in April, driven by higher prices

4 Lopez firms among 2019 top taxpayers 2020-05-29 09:00:03Four companies under First Philippine Holdings Corp. of the Lopez Group made it to the Finance Department’s initial list of top 100 taxpayers in

Clark Airport upbeat on new leadership 2020-05-29 08:50:02The recent appointment of former Philippine Drug Enforcement Agency chief Aaron Aquino as the new president of the Clark International Airport Corp. i

Belle’s net profit falls 31% to P577m 2020-05-29 08:40:01Belle Corp. said Friday consolidated net income dropped 31 percent in the first quarter to P577 million from P835 million a year ago.

European stocks slide at open 2020-05-29 04:00:00European stock markets opened sharply lower Friday on simmering China-US tensions over Beijing's planned national security law for Hong Kong.

Tokyo stocks open lower on US-China tension 2020-05-28 22:00:00Tokyo stocks opened lower on Friday, tracking falls on Wall Street on rising tensions between the US and China.

Foreign fund managers pulled out $660m in April 2020-05-28 10:20:11Foreign fund managers pulled out more than $600 million from the Philippine equity and bond markets in April amid the uncertainty caused by the corona

Store closure led to Jollibee’s P1.8-b loss in 2020-05-28 09:50:08Restaurant operator Jollibee Foods Corp. incurred a net loss of P1.79 billion in the first quarter, a reversal of the P1.46-billion profit in the same

San Miguel’s profit plunges 91% to P1.1b 2020-05-28 09:40:07Conglomerate San Miguel Corp. said Thursday net income fell 91 percent in the first quarter to P1.09 billion from P12.82 billion in the same period la

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Travel outlook uncertain, demand may fall amid Covid-19 New! 2020-05-29 18:20:40Domestic air travel resumed on Monday after a span of two months and a majority of passengers in the first four days were those, who were left strande

Big-time success: Market experts hail rights entitlement platform New! 2020-05-29 17:57:44Reliance Industries' mega rights issue was the first time the platform was tested

Govt unlikely to press for hike in GST New! 2020-05-29 17:39:13However it will have to find ways in which essential and non-essential items can be segregated

Covid-19 crisis: Over to states as next phase New! 2020-05-29 17:34:59Sources indicated that the focus this time would be on further easing the curbs on economic activities, including opening shops in malls, while mainta

Coronavirus LIVE: Trump says US 'terminating' relationship with New! 2020-05-29 17:25:51Covid 19 news: In percentage terms, the highest daily increase in total cases has been reported by Nagaland (350%) Arunachal Pradesh (50%), Ladakh (38

India GDP growth slows to 3.1% in Q4 New! 2020-05-29 17:06:27In the services sector, growth in the hotels and financial services sectors fell to 2.6 per cent and 2.4 per cent in the fourth quarter

At 4.6% of GDP, last year's fiscal deficit New! 2020-05-29 16:35:01The total revenue for FY20 was Rs 17.5 trillion, or 90.6 per cent of revised estimates of Rs 19.32 trillion, compared with 91.4 per cent for the same

SC issues notice to Tata Sons on cross-appeal New! 2020-05-29 16:20:42The top court had on January 10 granted relief to Tata group by staying the National Company Law Appellate Tribunal order of December 18 last year

Private equity player Bain Capital in talks to New! 2020-05-29 16:19:04In 2017, the lender had approved and conducted a sale of 9 per cent stake to raise Rs 11,626 crore, in a round led by Bain Capital.

After Vedanta, Adani Power to go for delisting; New! 2020-05-29 16:18:32The conglomerate has so far maintained a strategy to incubate a business and monetize it through public listing at a later stage.

After Infosys, now Wipro hires a Capgemini top New! 2020-05-29 16:15:49Appoints French IT services firm's COO Thierry Delaporte for its top post

Vodafone Idea stock jumps 35% on report of New! 2020-05-29 16:09:23Analysts, however, say a 5 per cent sale will not help much given the cash burn and rising debt

Trading Economics

Philippines GDP Growth Rate 2020-05-07 01:12:00The Gross Domestic Product (GDP) in Philippines contracted 5.10 percent in the first quarter of 2020 over the previous quarter. GDP Growth Rate in Phi

Philippines GDP Annual Growth Rate 2020-05-07 00:19:00The Gross Domestic Product (GDP) in Philippines contracted 0.20 percent in the first quarter of 2020 over the same quarter of the previous year. GDP A

Philippines Coronavirus Deaths 2020-05-06 21:22:00Philippines recorded 658 Coronavirus Deaths since the epidemic began, according to the World Health Organization (WHO). In addition, Philippines repor

Philippines Coronavirus Recovered 2020-05-06 21:22:00Philippines recorded 1506 Coronavirus Recovered since the epidemic began, according to the World Health Organization (WHO). In addition, Philippines r

Philippines Coronavirus Cases 2020-05-06 21:21:00Philippines recorded 10004 Coronavirus Cases since the epidemic began, according to the World Health Organization (WHO). In addition, Philippines repo

Philippines up to One Day Interbank Rate 2020-05-06 02:06:00Philippines up to One Day Interbank Rate increased to 2.44 percent on Wednesday May 6 from 2.08 percent in the previous day. Interbank Rate in Philipp

Philippines Imports 2020-05-06 01:59:00Imports in Philippines decreased to 6911070 USD Thousand in March from 7056867.71 USD Thousand in February of 2020. Imports in Philippines averaged 21

Philippines Balance of Trade 2020-05-06 00:02:00Philippines recorded a trade deficit of 2380460 USD Thousand in March of 2020. Balance of Trade in Philippines averaged -425017.26 USD Thousand from 1

Philippines Exports 2020-05-05 23:28:00Exports in Philippines decreased to 4530620 USD Thousand in March from 5400684.03 USD Thousand in February of 2020. Exports in Philippines averaged 16

Philippines Manufacturing Production 2020-05-05 11:23:00Industrial Production in Philippines decreased 11.30 percent in March of 2020 over the same month in the previous year. Industrial Production in Phili

Philippines Food Inflation 2020-05-05 11:16:00Cost of food in Philippines decreased 0.90 percent in September of 2019 over the same month in the previous year. Food Inflation in Philippines averag

Philippines - Credit Rating 2020-05-05 06:15:00Standard & Poor's credit rating for Philippines stands at BBB+ with stable outlook. Moody's credit rating for Philippines was last set at Baa2 w

Reuters: Business News

Wall Street ends mostly higher as U.S.-China spat New! 2020-05-29 19:02:36U.S. stocks finished mostly higher on Friday after President Donald Trump announced measures against China in response to new security legislation tha

United Airlines cutting 13 top jobs, adding international New! 2020-05-29 18:37:10United Airlines Holdings Inc said on Friday it will eliminate 13 officer positions even as it adds international flights back to its network, part of

Southwest Airlines CEO sees low-fare environment when traffic New! 2020-05-29 18:31:20Southwest Airlines Co Chief Executive Officer Gary Kelly said on Friday he expects a "brutal low-fare" environment when traffic returns after coron

Sale of shut Philly refinery to real estate New! 2020-05-29 18:20:16The closing of a $252 million sale of the Philadelphia Energy Solutions (PES) oil refinery to a Chicago-based real estate developer has been delayed,

Preliminary agreement reached in Lufthansa bailout row: sources New! 2020-05-29 17:30:40Germany and Brussels have reached a preliminary agreement in the ongoing row over the 9 billion euro ($10 billion) bailout of carrier Lufthansa , two

Stocks rebound on relief at Trump's response to New! 2020-05-29 16:48:01A gauge of global equities rebounded and crude oil rose on Friday after U.S. President Donald Trump ordered an end to Washington's special treatment

U.N. agency task force urges uniform approach to New! 2020-05-29 16:41:18A United Nations aviation-led task force is urging airlines, airports and countries to come up with a uniform approach to flying safely during the cor

Trump administration to study ways to protect for New! 2020-05-29 16:24:05The Trump administration will study ways to safeguard Americans from the risks of investing in Chinese companies, U.S. president Donald Trump said on

U.S. senators urge probe of TikTok on children's New! 2020-05-29 16:15:57Four U.S. senators, including a China hawk, urged the Federal Trade Commission on Friday to investigate allegations that the popular video app TikTok

Oil surges 5% on U.S.-China trade optimism, falling New! 2020-05-29 15:55:25Oil prices soared on Friday, with U.S. futures closing out May with record monthly gains, on hopes that the U.S.-China trade deal would remain intact

Lyft violates Washington DC sick day law during New! 2020-05-29 15:35:31Lyft Inc was sued on Friday by a former driver who accused the ride-sharing company of failing to provide required paid sick leave to drivers in Washi

Tencent in talks to buy Warner Music stake: New! 2020-05-29 14:48:49Chinese internet giant Tencent Holdings Ltd is in talks to invest $200 million in Warner Music Group, ahead of the record company's slated initial p


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