Business | ABS-CBN News

Philippines raises 1.2 billion euros from bond sale

ABS-CBN News
Jan 22 09:07 AM | Updated Jan 22 11:10 AM

Manila issued 9-year bonds at the lowest-ever coupon or interest and 3-year euro bonds at an unprecedented zero coupon, Finance Secretary Carlos Dominguez said in a statement. Read more »

Cathay says cabin crew can wear masks on mainland China flights due to virus

Jamie Freed, Reuters
Jan 22 08:50 AM | Updated Jan 22 04:17 PM

Hong Kong's Cathay Pacific Airways Ltd will allow cabin crew to wear a surgical mask while operating mainland China flights due to concerns over a new coronavirus. Read more »

PH shares extend losses on regulatory risks

ABS-CBN News
Jan 21 11:48 PM

Philippine shares resumed declines, breaking the 7,500 support level as regulatory risks continue to hamper the local market. Read more »

Global resource consumption tops 100 bn tonnes for first time

Marlowe Hood, Agence France-Presse
Jan 21 10:28 PM

The world is using up more than 100 billion tonnes of natural resources per year for the first time ever while global recycling of raw materials has fallen, according to a report released Tuesday. Read more »

Robinsons Land makes it to Bloomberg Gender-Equality Index

ABS-CBN News
Jan 21 08:01 PM

The Filipino developer said it scored "high" in the Bloomberg Gender Equality Index for equal representation in the workplace with its men to women in leadership positions ratio of 50:50. Seven out of every 11 employees are women.   Read more »

Reopening of Tagaytay commerce despite Taal's rumbling 'not profiteering': Tolentino

Katrina Domingo, ABS-CBN News
Jan 21 07:23 PM

Establishments were not reopened just for the sake of making money, said Sen. Francis Tolentino, a former mayor of Tagaytay City. Read more »

Yuan tumbles, yen rallies as spread of China virus unnerves markets

Dhara Ranasinghe, Reuters
Jan 21 05:10 PM

China's yuan tumbled on Tuesday, pulling away from six-month highs against the dollar, while the yen rallied as the spread of a pneumonia-like virus in China sparked a sudden bout of risk aversion and rattled world markets.   Read more »

Villanueva tells transport regulators: Stop 'childish' decision ending motorcycle taxis

ABS-CBN News
Jan 21 04:26 PM

"For the meantime, we all appeal not to implement or pursue their childish decision," said Sen. Joel Villanueva.  Read more »

PAL revives Cebu-Los Angeles route to raise Mactan Airport status

ABS-CBN News
Jan 21 03:56 PM

PAL said the revival of the nonstop flight service will allow residents of various cities in the Visayas and Mindanao to enjoy more convenient connections via Cebu.  Read more »

Air transit hub UAE ready to handle coronavirus cases: ministry

Reuters
Jan 21 03:37 PM

The UAE's ministry of health has made sure all ports of entry were "on standby to handle coronavirus cases," WAM reported.   Read more »

Taas-presyo sa ilang pangunahing bilihin hiningi

ABS-CBN News
Jan 21 02:55 PM | Updated Jan 21 07:12 PM

Pinag-aaralan ng Department of Trade and Industry ang mga hiling na taas-presyo ng mga manufacturer ng ilang pangunahing bilihin, gaya ng mga de-lata at gatas, sabi ng opisyal ng kagawaran.   Read more »

Finance dept flags Chevron deal for Batangas land as 'onerous'

ABS-CBN News
Jan 21 02:55 PM | Updated Jan 21 06:12 PM

Chevron has been paying a "miniscule" monthly rent of P0.74 per square meter for a 120-hectare property in Batangas province, compared to the current "fair market value" of P17.90 per square meter, the DOF said in a statement. Read more »

China virus outbreak spooks global markets as fourth death reported

Brenda Goh and Sophie Yu, Reuters
Jan 21 02:46 PM

Asian shares fell as investors likened the outbreak to the 2002/2003 spread of Severe Acute Respiratory Syndrome (SARS), another coronavirus which broke out in China and killed nearly 800 people in a global pandemic. Read more »

Duterte chief legal counsel recommends review of Ayala-UP Technohub deal

Arianne Merez, ABS-CBN News
Jan 21 01:54 PM | Updated Jan 21 04:31 PM

President Rodrigo Duterte's chief legal counsel said Tuesday he would seek a review of a lease deal between the University of the Philippines and Ayala Land as he claimed that a rough estimate showed that the government might be on the losing end. Read more »

IMF trims global growth estimates for 2020, 2021

Agence France-Presse
Jan 21 01:03 PM

In the latest update to its World Economic Outlook, the IMF cut the global growth estimate for 2020 to 3.3 percent, 0.1 percentage point lower than in the prior report released in October. It lowered the 2021 forecast by 0.2 percentage points, to 3.4 percent.   Read more »

Ayala Land shares rebound after clarifying UP-Technohub deal

ABS-CBN News
Jan 21 12:58 PM

The developer's statement that it paid UP more for the Technohub lease than what was earlier reported was "welcome news," said First Metro Equities analyst Royce Aguilar. Read more »

San Miguel donates P23M in goods to Taal Volcano evacuees

ABS-CBN News
Jan 21 12:35 PM

Donations include rice, canned goods, coffee, biscuits, milk, eggs, facemasks, blankets, sleeping mats and clothing, among others. Its unit San Miguel Foods accounted for the bulk of food donations, Ramon Ang's SMC said in a statement.  Read more »

Disaster shelters sought in malls, commercial buildings under Senate bill

Katrina Domingo, ABS-CBN News
Jan 21 12:34 PM

Local governments may identify and create "permanent evacuation centers", including private commercial buildings, provided that they will pay for the use of these facilities after the calamity, Tolentino said in his Senate Bill No. 1272. Read more »

Motorcycle taxi pilot run to proceed, transport official says

ABS-CBN News
Jan 21 10:22 AM | Updated Jan 21 11:25 AM

The Department of Transportation's technical working group considered the "sentiments" of senators during a hearing on Monday that the motor taxi trial run must proceed. Read more »

Philippine economic growth revs up as Taal Volcano looms

Jessica Fenol and Joel Guinto, ABS-CBN News
Jan 21 09:53 AM | Updated Jan 21 10:59 AM

Gross domestic product likely grew 6.4 percent in the last 3 months of 2019, according to the median forecast of 22 economists in a Bloomberg poll. Socioeconomic Planning Secretary Ernesto Pernia gave a 6.6 percent forecast, compared to the 6.2 percent expansion posted in the previous quarter. Read more »

The Davos plutocrats warm up to Trump

Andrew Ross Sorkin, The New York Times
Jan 21 08:53 AM

As anathema as it may be to some participants, Trump may be the new Davos Man. Read more »

Asia shares hold steady, BOJ and Trump awaited

Wayne Cole, Reuters
Jan 21 08:48 AM

Moves elsewhere were likewise modest, with Japan's Nikkei down 0.1 percent and South Korea 0.04 percent. E-Mini futures for the S&P 500 eased 0.05 percent. Read more »

Alphabet CEO backs temporary ban on facial-recognition, Microsoft disagrees

Foo Yun Chee and John Chalmers, Reuters
Jan 21 08:33 AM

While Pichai cited the possibility that the technology could be used for nefarious purposes as a reason for a moratorium, Smith said a ban was akin to using a meat cleaver instead of a scalpel to solve potential problems. Read more »

Australia to screen some flights from China, warns coronavirus difficult to stop

Colin Packham, Reuters
Jan 21 08:25 AM

Chinese authorities have confirmed more than 200 people have caught the new virus, which causes a type of pneumonia that has killed four people in the central city of Wuhan. Read more »

Canada court starts extradition hearing of China Huawei exec

Michel Comte, Agence France-Presse
Jan 21 07:03 AM | Updated Jan 21 08:33 AM

The Chinese telecommunications executive whose arrest in Vancouver badly strained Canada-China relations went to court on Monday to fight extradition to the United States.   Read more »