Business and Economy

Citylink buses accept payment through beep card system

MANILA—AF Payments Inc. has announced that Citylink buses traversing the Newport City-Eastwood City route are now accepting payments through the beep card system. The company said this is the first distanced-based implementation of the smartcard system in public buses applying the tap in, tap out scheme. “We have added another reason for Filipinos to own …

BDO hits 1,000-mark on branches

MANILA—Sy-led BDO Unibank (BDO) hit the 1,000-mark in terms of branches nationwide following the opening of another full-service outlet in Davao City last March 20. In a release, the bank said its branch in Buhangin, Davao City will help it further widen its reach and help lower the number of Filipinos who remain unbanked. “We …

BSP exec: Domestic liquidity remains enough for PHL’s requirements

MANILA—A ranking official of the Bangko Sentral ng Pilipinas (BSP) on Wednesday assured that domestic liquidity remains high despite the decline in tenders on the central bank’s longer-tenor term deposit facility (TDF). During Wednesday’s TDF auction, bids for the 28-day TDF reached PHP140.76 billion, lower than the PHP150 billion offering and last week’s PHP176.89 billion. …

PSEi recovers, PHP slips vs USD on hints of more Fed rate hikes

MANILA—Lack of fresh leads overseas boosted local equities Tuesday but the Philippine peso weakened as Federal Reserve officials continue to hint of more rate hikes this year. The Philippine Stock Exchange index (PSEi) rose 0.09 percent, or 6.74 percent, to 7,323.31 points. A trader said investors had been hearing dovish tones from Fed officials regarding …

Canada’s stock market watchdogs to review climate change public disclosures

TORONTO –The regulators of Canada’s stock markets are taking a fresh look at how publicly traded companies disclose the risks and financial effects associated with climate change. The Canadian Securities Administrators, which represents the country’s provincial and territorial stock regulators, says it wants to gather information on the current state of disclosure both at home …

Canadian stock market slips to 12-week low

TORONTO—Canada’s main stock market ended Tuesday with its lowest close of the year, as declines in energy and financial sectors contributed to a triple-digit loss. The Toronto Stock Exchange’s benchmark Standard & Poor’s/TSX Composite dipped 129.19 points, or 0.84 percent, to 15,313.13 points. Eight of the 10 sub-groups finished the day in negative territory. For …

Global travel firm to expand cruise offerings in PHL

MANILA—The Travel Corporation (TravCorp), a global travel company that manages tour operations, hotels and cruises, is looking to expand its offerings in the Philippines through some of its key brands. TravCorp, together with its general sales agent in the Philippines, Rajah Travel has plans to start offering cruise travels in its six-star luxury river cruise …

Negosyo Centers serve over 750,000 entrepreneurs nationwide

MANILA—More than 750,000 entrepreneurs have been served by the Department of Trade and Industry (DTI) through its Negosyo Centers nationwide. “There are 759,223 total clients served to date, to include business name registration and other Negosyo Center services,” DTI Undersecretary for Regional Operations Group Zenaida Maglaya said in a chance interview. She noted that for …

Lenovo says new LTS manufacturing process can reduce carbon emissions by 35%

MANILA—Technology firm Lenovo has announced a new patent-pending low temperature solder (LTS) process developed to improve PC manufacturing by conserving energy and increasing reliability. The company said that since abandoning the use of lead-based solder more than 10 years ago due to environmental concerns, the electronics industry has been searching for a solution to reduce …

Group appeals to China for access to farm goods market

BEIJING –A foreign business group is appealing to China to ease import restrictions on animal feed additives and other agricultural goods, highlighting complaints Beijing blocks market access despite its vocal support for free trade. The American Chamber of Commerce in China asked in a report Tuesday for quicker review of foreign biotechnology, an end to …

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