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Jun 10, 2024 | 
bworldonline.com | Arjay L. Balinbin
By Arjay L. Balinbin, Corporate EditorJAPAN-BASED department store chain Mitsukoshi is gearing up to introduce more Japanese brands and local partnerships at its Philippine branch Mitsukoshi BGC, a company official said.
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Jun 3, 2024 | 
bworldonline.com | Arjay L. Balinbin
By Arjay L. Balinbin, Corporate EditorJAPAN’s Nomura Real Estate (NRE) Development Co. Ltd. said it expects the Philippines, a primary investment focus in Southeast Asia after Vietnam, to contribute up to 30% of its total overseas profit by 2031.
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Dec 25, 2023 | 
bworldonline.com | Arjay L. Balinbin
Philippine President Ferdinand R. Marcos, Jr. has approved the extension of reduced tariffs on rice and other food items until the end-2024 to keep prices stable amid a threat of dry weather in the coming months, his office said on Tuesday. The modified rates first approved in 2021 had already been extended this year due to high inflation, and Marcos said another extension was needed until the end of next year.
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Dec 21, 2023 | 
bworldonline.com | Arjay L. Balinbin
The Philippine Economic Zone Authority (PEZA) aims for investment approvals of over P250 billion next year, its top official said on Friday. “We really want to target over P250 billion because that will bring us back to the peak levels of PEZA during the time of [former PEZA Director-General] Lilia B. De Lima when we were hitting P250-P300 billion,” PEZA Director-General Tereso O. Panga said during a briefing.
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Dec 15, 2023 | 
bworldonline.com | Arjay L. Balinbin
Consumers remained pessimistic in the fourth quarter due to elevated prices and lower salaries, a survey by the Bangko Sentral ng Pilipinas (BSP) showed. The BSP confidence index (CI) among consumers decreased to 19% in the fourth quarter from a 9.6% contraction in the third quarter.
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Dec 14, 2023 | 
bworldonline.com | Arjay L. Balinbin
The Philippines has converted $11.13 billion worth of outstanding World Bank loans to fixed rate from floating rate, a move that could yield as much as $125.1 million in foreign interest payment savings, its finance ministry said on Friday.
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Dec 14, 2023 | 
bworldonline.com | Arjay L. Balinbin
Cash remittances from overseas Filipino workers (OFWs) rose by 3% in October, as migrant Filipinos sent more money home ahead of the holiday season. Data from the Bangko Sentral ng Pilipinas (BSP) released on Friday showed cash remittances coursed through banks stood at $3 billion in October, higher than the $2.91 billion in the same month last year. The amount of money sent by OFWs was the highest in ten months, or since the $3.16 billion in December last year.
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Dec 14, 2023 | 
bworldonline.com | Arjay L. Balinbin
WASHINGTON – Rapid adoption of artificial intelligence (AI) could create new risks for the US financial system if the technology is not properly supervised, a panel of regulators warned on Thursday. The Financial Stability Oversight Council, which comprises top financial regulators and is chaired by Treasury Secretary Janet Yellen, flagged the risks posed by AI for the first time in its annual financial stability report.
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Dec 14, 2023 | 
bworldonline.com | Arjay L. Balinbin
Canada is planning a “broad and comprehensive program” that would allow many undocumented people to apply for permanent residency, the country’s Immigration Minister Marc Miller told The Global and Mail. The announcement complements Canada’s ambitious immigration targets, which had already aimed to bring in 500,000 immigrants a year by 2025. The country’s population has grown mainly through immigration, and this has helped fuel economic growth in recent years.
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Dec 14, 2023 | 
bworldonline.com | Arjay L. Balinbin
A US labor agency is seeking to force Starbucks Corp. to reopen 23 stores that were allegedly shuttered last year to discourage a nationwide union campaign, the latest case to accuse the coffee chain of illegal labor tactics. A regional director with the National Labor Relations Board (NLRB) in a complaint issued on Wednesday said that eight of the US stores had already unionized when they closed.
