Business | ABS-CBN News

Huawei phone sales plunge, cutbacks planned as US pressure bites

Agence France-Presse
Jun 18 08:40 AM

Ren, 74, said Huawei planned to cut production by $30 billion over the next two years to ride out the storm. He did not specify which lines of business would be hit most.  Read more »

Facebook to unveil new cryptocurrency

Agence France-Presse
Jun 18 07:56 AM

Facebook is set Tuesday to unveil a bid to bring cryptocurrency payments into the mainstream, reportedly with the endorsement of governments and financial giants.    Read more »

P2P scheme sa UV Express, ipinababasura

ABS-CBN News
Jun 18 12:31 AM

Maghahanda nang maghain ng petisyon ang grupo ng mga operator, driver, at ilang pasahero para tuluyan nang ibasura ang panukalang P2P scheme para sa mga UV Express. Read more »

Fuel prices headed higher after weeks of rollbacks

ABS-CBN News
Jun 17 11:28 PM

Fuel prices on the rise anew as tensions escalate in oil-rich middle east and price hikes are seen to continue in the next few months. Read more »

Globe Telecom seals first common tower policy deal, taps 2 other firms

ABS-CBN News
Jun 17 11:26 PM

Philippine telco giant, Globe Telecom, becomes the first company to seal a deal under the government's common tower policy. Read more »

Financial experts urge Filipinos to scrutinize firms before investing

ABS-CBN News
Jun 17 11:11 PM

Amid the rise of investment scams, financial experts are advising Filipinos to scrutinize firms first before taking part in any investment scheme to avoid getting duped.  Read more »

PH shares underperform ahead of FTSE rebalancing

ABS-CBN News
Jun 17 11:06 PM

Investors are keeping a close eye on Bangko Sentral ng Pilipinas announcements, prompting market participants to be on the sidelines for now. Read more »

7-Eleven struggling in face of Japan's labor, population woes

Kyodo News
Jun 17 10:41 PM

Owners of Japan's ubiquitous convenience stores are facing a business model-threatening crisis as they grapple with the nation's demographic and labor challenges. Read more »

Third telco may accept subscribers as early as 4th quarter: DICT

ABS-CBN News
Jun 17 08:12 PM | Updated Jun 17 09:16 PM

The third major telco player may be ready to accept subscribers as early as the fourth quarter of this year, the Philippines' IT minister said on Monday.  Read more »

Tentative release of Mislatel's certificate to operate set on July 8: Rio

ABS-CBN News
Jun 17 06:56 PM | Updated Jun 17 07:13 PM

Third telecommunications player Mislatel may be able to acquire its certificate to operate from the National Telecommunications Commission by July 8, an official said.  Read more »

Dairy firm Lacto Japan to set up sales unit in PH

Kyodo News
Jun 17 05:53 PM

Dairy product trader Lacto Japan Co. is foraying into the Philippines to meet growing dairy demand there. Read more »

Airbus launches long-range A321 jet, close to 200 orders expected

Alistair Smout and Laurence Frost, Reuters
Jun 17 05:30 PM

Airbus launched a long-range version of its A321neo jet at the Paris Airshow on Monday, aiming to carve out new routes for airlines with smaller planes and steal a march on rival Boeing's plans for a possible new mid-market jet. Read more »

Huawei founder says to cut output by $30 billion in 2019-20

Agence France-Presse
Jun 17 05:25 PM

The founder of Huawei said Monday the embattled Chinese telecom giant would slash production over the next two years as it grapples with a US push to isolate the company internationally. Read more »

AirAsia offers seat sale for as low as P16

ABS-CBN News
Jun 17 05:01 PM

Passengers can book flights from Clark to Cebu, Davao, Cagayan de Oro, Puerto Princesa and Caticlan for as low as P16, the low-cost carrier said in an advisory.  Read more »

Cash remittances up 4 percent in April

ABS-CBN News
Jun 17 03:23 PM

Cash remittances from overseas Filipinos reached $2.4 billion in April, up 4 percent from the same month last year. Read more »

BPOs show no signs of slowdown, Megaworld says

ABS-CBN News
Jun 17 02:17 PM

In 2018, Megaworld sealed one of the "largest" real estate deals in the country for a 25-storey tower for JPMorgan Chase Bank’s global service center in Taguig, chief strategy officer Kevin Tan said. Read more »

BSP urges public: Transact using registered virtual currency exchanges

ABS-CBN News
Jun 17 12:41 PM

Registered Virtual Currency Exchanges (VCEs) facilitate conversion of virtual currencies to fiat currencies and vice versa, the BSP said in an advisory.    Read more »

Globe backs common tower push, taps 2 builders

ABS-CBN News
Jun 17 12:38 PM

ISOC and edotco will build an initial 150 towers for Globe, which will mostly concentrate in areas within CALABARZON, president and CEO Ernest Cu said during the signing ceremony. Read more »

Asian shares edge up, trade, geopolitical tensions cap gains

Tomo Uetake, Reuters
Jun 17 12:23 PM

MSCI's broadest index of Asia-Pacific shares outside Japan edged up 0.1 percent, after opening slightly weaker. Japan's Nikkei average ticked up by a similar amount. Read more »

Airlines try new ways to build pilot ranks

Christine Negroni, The New York Times
Jun 17 12:02 PM

The biggest need for pilots is in Asia, where an improving economy in China has resulted in more people traveling. More people are flying in the United States as well and, at the same time, pilots are hitting the mandatory retirement age of 65. Read more »

Duterte keeps lower tariffs on some poultry products

Arianne Merez, ABS-CBN News
Jun 17 11:43 AM | Updated Jun 17 05:38 PM

 President Rodrigo Duterte has signed an executive order keeping reduced tariff rates on certain poultry products. Read more »

Megaworld to launch 6 more townships within 2 years

ABS-CBN News
Jun 17 11:07 AM

These new developments will cover around 2,000 hectares, which are mostly from new land acquisitions, the developer said in a disclosure to the stock exchange.  Read more »

Young population drives co-working space demand in PH: Regus

ABS-CBN News
Jun 17 10:35 AM | Updated Jun 17 10:44 AM

The Philippines has one of the youngest populations in Southeast Asia with an average age of 23.7 compared to 27 in Malaysia and 37 in Thailand, Regus Philippines country manager Lars Wittig said. Read more »

Presyo ng petrolyo tataas simula Martes

ABS-CBN News
Jun 17 10:18 AM | Updated Jun 17 08:17 PM

Matapos ang 3 sunod-sunod na linggong rollback, magkakaroon ng pagtaas sa presyo ng produktong petrolyo.  Read more »

Manila Water unit secures 25-year concession in Bulakan

ABS-CBN News
Jun 17 10:15 AM | Updated Jun 17 10:56 AM

Bulacan Water District (BWD) signed the agreement with Bulakan Water Company Inc, the Ayala-owned water utility told the stock exchange.   Read more »