Business and Economy

Jollibee eyes Malaysian, Indonesian expansion

MANILA – As part of its continuing expansion efforts, Jollibee Foods Corporation is now eying to the possibility of venturing into Malaysian as well as re-entering Indonesian markets. “We hope that within the next two years we will be able to go back to Indonesia and enter Malaysia,” said Jollibee chief financial officer Ysmael Baysa, …

ATM scams, to be investigated by House committee

MANILA, Philippines – The House of Representatives committee on banks, chaired by Sonny Collantes, is set to probe reported scams on automated teller machines (ATM). A hearing will be held next week to look into said scams, which involve the unauthorized withdrawal of cash from ATM accounts. Collantes mentioned the possibility the private banks, the …

Large scale comm’l farming seen to address poverty

MANILA – Investors in the agriculture sector believes that large-scale commercial farming of various industrial crops and technology adaptation can be a powerful poverty alleviation key for the country. Industry players said in a Go Negosyo forum held at the Manila Polo Club that sugar, rice, and oil palm cultivation would improve agriculture share to …

PIDS urges gov’t to expand manufacturing industry

MANILA – Through the implementation of reforms that will facilitate the labor-extensive manufacturing expansion, the Philippine Institute Development Studies said, it might be possible for the government to create more jobs. PIDS emphasized in a study entitled “Labor Policy Ananlysis For Jobs Expansion and Development,” that there is a growing need to enhance labor-intensive production …

NPL ratio of thrift banks improves

MANILA — The Bangko Sentral ng Pilipinas yesterday reported that an improvement on non-performing loans (NPL) of thrift banks is seen as it went down to 4.94 percent of the total outstanding portfolio, first quarter this year. NPLs are obligations that remain unpaid for at least 30 days after original due date. This year’s figure …

AsPac should rein in rapid credit growth – Fitch

MANILA — A debt watcher in a report that Asia-Pacific policymakers should focus rapid growth in credit and ensuring that no asset bubbles will arise in the financial system. “Fitch Ratings believes that controlling the pace of growth and the potential bubbles-often property-associated with rapid growth is more important than focusing solely on the absolute …

Nurses unite against Kaiser; Pinoys join in

OAKLAND, California – A correspondent for the North American Bureau of ABS-CBN news reported that several Filipinos were among the approximately 300 nurses and union representatives who converged outside the California Nurses Association building last week to protest their employer, Kaiser Permanente’s alleged dismissal of the importance of patient care. The nurses said that with …

Threats to PH’s credit standing, pinpointed by Fitch Ratings

UK-based credit watcher Fitch Ratings said on Thursday that any further decline in the Philippines’ already-low per-capita income, coupled with the current state of governance – which foreign analysts see as weak – could be factors for the country’s sovereign rating to be brought back to below investment grade. Fitch pointed out that although the …

Official survey shows China manufacturing at highest in 27 months after mini stimulus measures

HONG KONG—Chinese manufacturing rose to the highest level in more than two years in July in the latest sign that the world’s No. 2 economy is perking up after a series of mini-stimulus measures unleashed by authorities. The purchasing managers’ index compiled by the China Federation of Logistics and Purchasing rose to 51.7 last month …

European shares down ahead of US data, Asia gains on US earnings reports

TOKYO—European stocks were lower Wednesday ahead of U.S. economic data while cheery earnings from major Japanese companies such as Honda Motor Co. boosted Asian markets. Keeping score In morning trade in Europe, France’s CAC 40 dipped 0.7 per cent to 4,334.79 and Britain’s FTSE 100 edged down 0.2 per cent to 6,791.58. Germany’s DAX shed …

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