Editor’s Pick

Apple becomes first company to hit $3 trillion market value, then slips

By Nivedita Balu and Noel Randewich Apple Inc on Monday became the first company to hit a $3 trillion stock market value, before ending the day a hair below that milestone, as investors bet the iPhone maker will keep launching best-selling products as it explores new markets such as automated …

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Jump in deforestation of world’s most biodiverse savanna alarms Brazilian scientists

SAO PAULO – Deforestation last year rose to the highest level since 2015 in Brazil’s Cerrado, prompting scientists on Monday to raise alarm over the state of the world’s most species-rich savanna, a major carbon sink that helps to stave off climate change. The Cerrado, which is spread across several …

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Shares trading of ACE Enexor suspended on backdoor listing

THE Philippine Stock Exchange (PSE) on Monday suspended the stocks trading of Ayala-led ACE Enexor, Inc. until further disclosure on its assets-for-shares deal with its affiliate AC Energy Corp. (ACEN). “Pursuant to the Backdoor Listing Rule, the trading of the ACE Enexor shares will be suspended effective at 9 a.m. …

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BoI approves P9-M crabmeat canning factory in Bacolod City

THE Board of Investments (BoI) has approved the application of Carthage Crab Meat Processing (CCMP) for its P9-million crabmeat canning factory in Bacolod City, Negros Occidental. The BoI said in a statement on Monday that CCMP’s raw crab requirements reach 1,970 metric tons (MT), of which 20% or 394 MT, …

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EasyCall agrees to acquire IT firm for P163 million

EASYCALL Communications Philippines, Inc. (ECP) has inked the transaction documents related to the P162.93-million acquisition of information technology (IT) firm Transnational E-Business Solutions, Inc. (TESI) on Jan. 1, 2022. In a disclosure to the exchange on Monday, the listed firm said it is finalizing the bank loans and/or shareholder advances …

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SEC revokes registration of MassDrop, MDM Ventures

THE Securities and Exchange Commission (SEC) has revoked the registrations and the certificates of incorporation of two more entities “for serious misrepresentation as to what the corporations can do to the great prejudice of or damage to the general public.” In an order dated Dec. 31, the SEC said it …

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PHL needs to move tax collection processes online, says ADB report

PHILIPPINE STAR/ KRIZ JOHN ROSALES By Jenina P. Ibañez, Senior Reporter THE PHILIPPINE government must move its tax collection processes online to cut costs and improve compliance among individuals and businesses, the Asian Development Bank (ADB) said. ADB Southeast Asia economist Aekapol Chongvilaivan said such reforms will help improve tax …

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PDS plans to launch country’s first digital corporate bonds in February

THE Philippine Dealing System Holdings Corp. (PDS) will launch the country’s first digital corporate bond in February to deepen local capital markets, the Department of Finance (DoF) said. The issuance will use distributed ledger technology, where transactions are recorded in several sites instead of a centralized database. Philippine Dealing and …

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Duterte vetoes creation of human rights institute

PCOO PRESIDENT Rodrigo R. Duterte directly vetoed five items in this year’s P5.024-trillion national budget, including the creation of a human rights institute. Mr. Duterte rejected a provision in Republic Act 11639 or the General Appropriations Act (GAA) of 2022 that establishes a human rights institute, saying no “appropriation is …

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Omicron could derail short-term Philippine growth

METRO MANILA is under Alert Level 3, a stricter form of lockdown, up to Jan. 15 to curb the spike in coronavirus cases. — PHILIPPINE STAR/ MICHAEL VARCAS By Jenina P. Ibañez, Senior Reporter A FASTER ROLLOUT of coronavirus disease 2019 (COVID-19) vaccines and public compliance with health protocols have …

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