Business | ABS-CBN News

'Metaverse' hype fuels booming digital property market

Katy Lee, Agence France-Presse
Dec 05 01:47 PM

The idea of spending millions on non-existent land may sound ludicrous, but feverish predictions of a virtual reality future are pushing investors to bet big on digital real estate. Read more »

Big-time oil price rollback asahan sa Dec. 7

ABS-CBN News
Dec 04 11:39 AM

May aasahang mahgit-kumulang P2.50 kada litrong rollback sa produktong petrolyo sa susunod na linggo, ayon sa mga taga-industriya. Read more »

Business Mentor: Celebrating the small victories

Armando Bartolome
Dec 04 08:03 AM

Celebrating small victories can create a sense of delight that will positively impact our career, business, and personal relationships. Read more »

Stocks sag as weak US jobs data adds to Omicron worries

Agence France-Presse
Dec 04 07:29 AM

Global stocks finished a volatile week on a downcast note Friday, sunk by worries over the Omicron variant and disappointment at the most recent US job growth figures. Read more »

PSEi ends lower for 3rd straight week

ABS-CBN News
Dec 04 03:57 AM

The PSE index ends lower for a third straight week even after clawing back some of its recent losses on Friday. Read more »

'Big time' oil price rollback asahan dahil sa Omicron

ABS-CBN News
Dec 03 06:53 PM

May aasahang "big time" na rollback sa presyo ng produktong petrolyo dahil sa banta ng Omicron variant sa buong mundo. Read more »

UnionBank investigates 'suspicious' transactions linked to SMS scam

Jessica Fenol, ABS-CBN News
Dec 03 06:38 PM

UnionBank of the Philippines said Friday it has closed identified “mule” accounts as it continuously investigates suspicious transactions linked to the proliferating SMS scam. Read more »

PLDT uncovers new SMS 'group chat' modus

Jessica Fenol, ABS-CBN News
Dec 03 04:02 PM

PLDT Inc said Friday its cybersecurity team has uncovered that fraudsters were updating the SMS-related scam by using group chats. Read more »

Prudent to keep NCR under Alert Level 2: biz sector

Katrina Domingo, ABS-CBN News
Dec 03 02:28 PM

The Philippine business sector feels that retaining Metro Manila under COVID-19 alert level 2 is the "most prudent" option instead of further easing health restrictions during the holiday season amid the threat of a new COVID-19 variant, Presidential Adviser for Entrepreneurship Joey Concepcion said, Friday. Read more »

Union Bank says 'no definitive' deal yet for Citi's Philippine consumer, retail banking unit

ABS-CBN News
Dec 03 02:14 PM

There is no definitive deal signed yet, Union Bank of the Philippines said Friday, pertaining to the reported interest of the lender in acquiring Citigroup's consumer and retail banking business in the country. Read more »

BSP backs digitalization of microfinancing firms

ABS-CBN News
Dec 03 11:35 AM | Updated Dec 03 11:55 AM

The Bangko Sentral ng Pilipinas said Friday it was committed to helping microfinance institutions (MFIs) digitalize in order to expand services in the countryside Read more »

Globe signs a total of P15 billion loan facilities

ABS-CBN News
Dec 03 10:45 AM

Globe Telecom said Friday it signed term loan facilities with BDO Unibank and the Land Bank of the Philippines for P10 billion and P5 billion, respectively. Read more »

China's Didi to de-list from New York exchange

Agence France-Presse
Dec 03 10:22 AM | Updated Dec 03 10:33 AM

Chinese ride-hailing giant Didi Chuxing said Friday it would start the process of de-listing its shares from the New York stock exchange, shortly after US regulators adopted a rule that would allow them to remove foreign firms. Read more »

Toyota turns to Chinese tech to reach its electric holy grail

Norihiko Shirouzu, Reuters
Dec 03 08:45 AM

Toyota Motor Corp will launch an all-electric small sedan in China late next year, having turned to local partner BYD for key technology to finally make an affordable yet roomy runaround, four sources told Reuters. Read more »

Grab shares rise in US debut after record $40B SPAC merger

Reuters
Dec 03 08:39 AM

Shares of Grab rose 18 percent in their US market debut on Thursday, after Southeast Asia's biggest ride-hailing and delivery firm inked a record $40 billion merger with a blank-check company. Read more »

PH informal workers vulnerable to green economy push?

Beh Lih Yi, Thomson Reuters Foundation
Dec 03 06:23 AM

In the Philippines, a government push to phase out jeepneys for more environmentally friendly public transport has met strong opposition. Read more »

PH, 66 countries agree to cut services-trade red tape

Reuters
Dec 03 03:41 AM

The signatories, also including the US, China and EU members, are a minority of the WTO's 164 members, but represent 90% of all services trade. Read more »

PSE regains ground day after disastrous loss

ABS-CBN News
Dec 03 02:45 AM

The Philippine Stock Exchange regained some ground following Wednesday's bloodbath. Read more »

GCash rolls out 'extra security' to protect users from scams

Jessica Fenol, ABS-CBN News
Dec 02 05:36 PM

GCash on Thursday said it is working with authorities and has ramped up its efforts to protect consumers from the proliferating SMS spam or smishing. Read more »

New polymer P1,000 bills to start circulation mid-2022

Jessica Fenol and Warren De Guzman, ABS-CBN News
Dec 02 05:30 PM

The new polymer or plastic P1,000 bills will start circulation in mid-2022 after the Bangko Sentral ng Pilipinas signed a production deal with the Reserve Bank of Australia, BSP Governor Benjamin Diokno said Thursday. Read more »

BSP to remain 'accommodative' despite Omicron variant: Diokno

Warren De Guzman, ABS-CBN News
Dec 02 04:17 PM | Updated Dec 02 08:58 PM

The BSP has kept the country's benchmark interest rate at 2 percent for almost a year and has signalled it is unlikely to take any montary until the end of the year. Read more »

BSP to halt new e-money applications on Dec. 16

Jessica Fenol, ABS-CBN News
Dec 02 04:05 PM

The Bangko Sentral ng Pilipinas said Thursday it would close the applications for new non-bank electronic money issuers (EMI) on Dec. 16. Read more »

TIMELINE: Grab takes a ride to $40-B SPAC listing

Reuters
Dec 02 02:48 PM

Southeast Asian ride-hailing and food delivery platform Grab Holdings lists on Nasdaq via the world's largest special purpose acquisition company (SPAC) deal worth $40 billion. Read more »

UnionBank in talks with Citi for 'potential acquisition' of PH unit

ABS-CBN News
Dec 02 02:17 PM

UnionBank is in discussion with Citigroup Inc. for the "potential" acquisition of Citi's consumer banking business in the Philippines, it said Thursday. Read more »

Grab's Nasdaq debut to set tone for ASEAN tech listings

Anshuman Daga and Aradhana Aravindan, Reuters
Dec 02 02:01 PM | Updated Dec 02 02:11 PM

Grab will begin trading on Nasdaq under the ticker symbol "GRAB." Read more »