Editor’s Pick

Ayala eyes stake in Singapore, Myanmar firms for $237.5M

Ayala Corp. announced on Friday its plan to acquire a 20% share in Singapore-based Yoma Strategic Holdings Inc. (YSH) and a 20% stake in First Myanmar Investment Public Co. Ltd. (FMI). The total investment amounts to $237.5 million, the listed conglomerate said in a stock exchange disclosure. “The transaction supports …

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Air quality in Manila worsens over holidays, returns to pre-pandemic levels

PHILSTAR By Patricia B. Mirasol Satellite data suggests that the air quality in the capital worsened this Christmas season, reverting to pre-pandemic levels. According to STAMINA4Space, a Philippine space research program, emission of NO2, a gaseous pollutant from cars that burn fossil fuels, and aerosol optical depth (AOD) are back to …

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Local stocks sink as new virus cases climb

Philippine Stock Exchange index A surge in new cases of coronavirus disease 2019 (COVID-19) sent Philippines shares tumbling on the last trading day of the year, analysts said on Friday when the market also took in news that existing mobility restrictions will be unchanged until mid-January. The Philippine Stock Exchange …

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RCBC to issue P3-B worth of fixed-rate bonds to refinance maturing debt

Rizal Commercial Banking Corp. (RCBC) said it plans to issue at least P3 billion conventional or sustainability fixed-rate bonds to support the bank’s plan to grow its assets and refinance maturing liabilities. RCBC said in a disclosure Friday that the issue was part of a P100 billion bond program approved …

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Insurance industry premium income up 28.71% in Q3

BW FILE PHOTO Gross premiums collected by insurance firms and mutual benefit associations (MBAs) rose 28.71% year-on-year in the third quarter, according to the Insurance Commission (IC). Premiums totaled P278.66 billion in the three months to September. The life insurance sector had net premiums of P230.61 billion, up 33% from …

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Manila Mayor says hotels that violate quarantine rules face closure

Berjaya Hotel Hotels in the city of Manila will be forced to shut down if they do not comply with quarantine rules, Manila Mayor Francisco M. Domagoso said Friday at the opening of the city’s COVID field hospital for returning Overseas Filipino Workers (OFW). Accepting bribes to allow a person …

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Romulo-Puyat warns of tourism job losses if hotels flout quarantine rules

Philstar THE Department of Tourism (DoT) said tourism jobs are placed at risk when travelers and hotels disregard quarantine regulations. Tourism Secretary Bernadette Romulo-Puyat said in a radio interview Friday that “No one should be exempted since if one does not follow, it will… result in the loss of their …

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DPWH to bid out 3 Marikina River bridges in first half of 2022

PHILSTAR THE Department of Public Works and Highways (DPWH) plans to conduct auctions for the contract to build three Marikina River bridges with a combined project cost of P6.428 billion in the first half of 2022. Public Works and Highways Secretary Roger G. Mercado said in a statement Friday that …

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‘Serious’ talk between Biden and Putin sets stage for diplomacy

US PRESIDENT Joseph R. Biden and Russia’s President Vladimir Putin meet for the US-Russia summit at Villa La Grange in Geneva, Switzerland, June 16. — REUTERS WILMINGTON, Del./MOSCOW — US President Joseph R. Biden, Jr., and Russian President Vladimir Putin on Thursday exchanged warnings over Ukraine but conveyed some optimism …

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Thai farmers fear loss of land to mega industrial zone

UNSPLASH BAN PHO, Thailand — Ubon Chansoi has lived in a modest wooden home in rural Thailand for about 60 years, farming and rearing fish for a living that is now threatened by an ambitious plan to turn agricultural land in her village in Chachoengsao province into an industrial zone. Chachoengsao is …

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