Local markets end trading week lower

MANILA — The local stock barometer declined anew on Friday as investors rebalanced holdings and stocks, while the peso continued retreating against the greenback. The benchmark Philippine Stock Exchange index (PSEi) slipped by 1.03 percent to 7,908.89 points from Thursday’s 7,991.25 points close, wiping gains from previous session. “A large part of the moves happened … Read More

PCC imposes P6.5-M fine on Grab for submitting wrong data

MANILA — The Philippine Competition Commission (PCC) slapped a PHP6.5-million fine on ridesharing firm Grab Philippines after it violated its voluntary commitments following the approval of its acquisition of Uber last year. “The Commission imposed a fine of PHP 6.5 million on Grab Philippines for submitting deficient, inconsistent, and incorrect data for the monitoring of … Read More

AirAsia exec sees bright 2019 for aviation industry

MANILA — AirAsia Philippines chief executive officer Dexter Comendador sees a bright future ahead for the Philippine aviation industry this year. In an exclusive interview with the Philippine News Agency (PNA), Comendador said government agencies are collaborating to help the industry grow and improve, with tourism and infrastructure projects either ongoing or in the pipeline. “This … Read More