Business | ABS-CBN News

PSE: Fallout from R&L Investments fiasco could reach billions

ABS-CBN News
Nov 11 11:04 PM

The Philippine Stock Exchange asserts the large scale theft that rocked the local market last week is not systemic. Read more »

PH shares join regional downswing amid lingering US-China trade worries

ABS-CBN News
Nov 11 11:00 PM

Philippine shares slid alongside most Asian markets as hopes for a speedy resolution to the US-China trade front wane. Read more »

John Gokongwei Jr., Bong Tan pumanaw na

ABS-CBN News
Nov 11 08:26 PM

Dalawang malalaki at tinitingalang negosyante ang magkasunod na pumanaw nitong weekend. Read more »

China still world's biggest rice importer: Agri Dept

ABS-CBN News
Nov 11 06:26 PM | Updated Nov 11 07:19 PM

The USDA-FAS uses a different set of statistics in its projection compared to the “official” data being used by the DA, Assistant Secretary Noel Reyes told radio DZMM. Read more »

What slowdown? Chinese spend big in 'Singles' Day' shopping spree

Dan Martin, Agence France-Presse
Nov 11 05:29 PM

E-commerce leader Alibaba said that within the first 12 hours, nearly 192 billion yuan ($27.4 billion) had been spent -- apparently on pace to shatter last year's full 24-hour record of $30.7 billion. Read more »

Review of trading deals will help identify amount involved in brokerage theft: PSE president

ABS-CBN News
Nov 11 05:06 PM

The Philippine Stock Exchange will review the trading records of R&L Investments and some other firms to “identify” the actual amount involved in the million-peso theft as compared to the reported missing amount of P700 million, PSE president Ramon Monzon said Monday. Read more »

Filipino tycoons pass on, signal changing of the guard

ABS-CBN News
Nov 11 04:37 PM

Here is a list of Philippine taipans who passed on in the last 2 years.  Read more »

Asus ROG Phone II Review: The closest to 'god mode' in mobile gaming

ABS-CBN News
Nov 11 03:23 PM

While other smartphone brands are tripping over each other in the race to come up with the best cameras, Asus is betting big that the future of the smartphone doesn't rest on selfies or instafilters.  Read more »

Cash, trolls and a cult leader: How Russia meddles abroad for profit

Michael Schwirtz and Gaelle Borgia, The New York Times
Nov 11 02:59 PM

Of all the places for Russia to try to swing a presidential election, Madagascar is perhaps one of the least expected. The island nation off the coast of southeastern Africa is thousands of miles from Moscow and has little obvious strategic value for the Kremlin or the global balance of power.   Read more »

Asian shares a sea of red as HK chaos hits sentiment

Swati Pandey, Reuters
Nov 11 02:43 PM

Hong Kong's Hang Seng index led the losses in Asia, down 2.4 percent, after police fired live rounds at protestors on the eastern side of Hong Kong island. Cable TV and other Hong Kong media reported at least one protester being wounded. Video footage showed a protester lying in a pool of blood. Read more »

Billionaire Lucio Tan's namesake son dies

ABS-CBN News
Nov 11 11:49 AM | Updated Nov 11 12:59 PM

Nicknamed Bong, Lucio Tan Jr, assumed the presidency of Philippine Airlines (PAL) holding firm two weeks before his death. He held top positions in family-controlled LT Group, Tanduay, and Philippine National Bank.  Read more »

Economic growth momentum rests on budget passage: analyst

ABS-CBN News
Nov 11 11:24 AM | Updated Nov 11 12:52 PM

Gross domestic product grew 6.2 percent in the third quarter, on the back of a recovery in government spending that was weight down by the delayed approval of the 2019 budget. Read more »

What Southeast Asia can gain from China-backed trade agreement

ABS-CBN News
Nov 11 11:21 AM

A free trade deal in Southeast Asia that is led by China and excludes the US will help streamline smaller, similar agreements in the region, says Sebastian Cortes-Sanchez, an analyst at the Asian Trade Center. In an interview with ANC, Cortes-Sanchez dismisses criticism that the RCEP is good only on paper.   Read more »

John Gokongwei's 'able' heirs can continue legacy: business group

ABS-CBN News
Nov 11 11:16 AM

The taipan, whose businesses include the Philippines' largest airline, Cebu Pacific, is a big loss to the country, says the federation's president, Henry Lim Bon Liong. Read more »

Alibaba says 11-11 sales hit $13 billion in first hour

Reuters
Nov 11 08:33 AM

Also known as "Double Eleven", the festival's name originates from the calendar date 11/11, with the four ones referencing being single.   Read more »