Jollibee closes hotpot business in China

MANILA — Homegrown fast-food giant Jollibee Foods Corp. (JFC) has discontinued operations of its 12 Hotpot brand in China to focus efforts on larger businesses. JFC told the local bourse its 48-percent owned subsidiary, 12 Hotpot Food and Beverage Management Co. Ltd. (Operating Company), would be dissolved and liquidated after it stopped operations effective Tuesday. The … Read More

Basic Energy to invest in RE projects abroad

MANILA — Publicly-listed holding firm Basic Energy Corp. (BEC) is investing in four renewable energy projects in Japan, Myanmar and Thailand as part of its overseas expansion. “The investments are seen to provide Basic Energy with revenue streams off projects with fast turnaround times,” it told the local bourse. BEC’s Board approved the 10-percent equity … Read More

More Chinese investors keen on PH

MANILA — More Chinese companies are keen on investing in the Philippines, encouraged by its robust economic growth and huge market. “We received a lot of (business) delegations that are inquiring about all (sectors) especially in the tourism, infrastructure, chemicals, fruits and so many,” bared Angel Ngu, honorary president of the Federation of Filipino Chinese … Read More

US sees bright economic prospects for ASEAN

MANILA — The United States expects bright economic prospects for Association of Southeast Asian Nations (ASEAN) regional bloc, with the youth contributing to the achievement of opportunities. Ambassador Daniel Shields, Charge d’Affaires of US Mission to ASEAN, said the regional bloc was “critically important” for the US, noting that US investments in ASEAN over the … Read More

PH targets USD131-B exports by 2022

MANILA — The Philippines targets USD122 billion to USD131 billion revenues from exports of goods and services by the end of the Duterte administration, Export Marketing Bureau (EMB) Director SenenPerlada said Friday. On the sidelines of the Slingshot ASEAN, Perlada told reporters that the Department of Trade and Industry (DTI) is crafting the Philippine Export … Read More

DTI chief, biz group pay tribute to SyCip

MANILA — Trade Secretary Ramon Lopez paid homage on Monday to the late business leader Washington SyCip, who passed away on Saturday. Lopez recognized the contribution of SyCip in pursuing social development initiatives that benefitted many Filipinos. “We are saddened to hear of the passing of an inspiring Filipino icon, who has transcended beyond the business … Read More

Tenders for TDF rise on Wednesday

MANILA — Tenders for the Bangko Sentral ng Pilipinas’ (BSP) Term Deposit Facility (TDF) rose substantially during Wednesday’s auction. Data released by the central bank showed tenders for seven-day TDF reached PHP53.545 billion, higher than the PHP40 billion offering and last week’s PHP27.785 billion. Bid coverage ratio of the shorter-dated TDF also rose to 1.3386 … Read More