Companies

The Philippine economy is poised to benefit from ongoing economic reforms and favorable trends, as inflation continues to ease and growth momentum strengthens. In September, the country’s inflation rate slowed to 1.9%, a significant drop from August’s 3.3%, marking the lowest level since May 2020’s 1.6%. This brought the average inflation rate for the first nine months of the year …

The Bangko Sentral ng Pilipinas (BSP) reported a significant increase in the preference for digital payments in the country, based on the 2021 Financial Inclusion Survey. Tricia Defante-Andres, Deputy Director of the BSP’s Payments Policy and Development Department, highlighted how digital payment platforms, such as e-wallets, have expanded access to financial services for Filipinos. “It’s very encouraging that, as of …

The Philippine Amusement and Gaming Corporation (PAGCOR) announced recently that the local gaming industry’s Gross Gaming Revenues (GGR) grew 37.52% in the third quarter to P94.61 billion from P68.79 billion GGR year-on-year. The industry’s third-quarter growth was driven mainly by the Electronic Gaming sector which increased more than five-fold, generating P35.71 billion in revenues from last year’s P6.32 billion. “The …

Fiber broadband provider Converge ICT Solutions, Inc. (Converge) announced a robust performance for the first nine months of 2024, with consolidated revenues rising by 14 percent to P29.9 billion and net income surging by 29 percent year-on-year to P8.2 billion. Converge CEO Dennis Anthony Uy attributed the growth to strong performance across its residential, enterprise, and wholesale segments. “Our initiatives …

Victoria International Container Terminal, a fully automated container terminal and International Container Terminal Services, Inc.’s (ICTSI) operation in the Port of Melbourne, Australia, has been officially approved to perform 14.4 Rural Tailgate Inspections, reinforcing its commitment to streamlining biosecurity compliance for containers bound for rural areas across the State of Victoria. The approval follows the recent policy extension by the …

By: Eunice Jean Patron The University of the Philippines – Diliman College of Science (UPD-CS) recently organized a campaign focused on Genetic Modification (GM) and Gene Editing (GE) research in the country, as well as on the challenges faced by its researchers. Titled “#GeneTalks,” the two-part, multi-stakeholder awareness campaign, spearheaded by the UPD-CS Office of the Associate Dean for Research, …

Manila Water posted ₱10.1 billion in net income for the first nine months of 2024, growing by 39% from the same period last year. Tariff adjustments for its East Zone Concession and several of its Non-East Zone Philippines (NEZ PH) businesses continued to provide strong topline support to the robust growth in customer demand. On a consolidated level, revenues grew …

Kaspersky cybersecurity solutions for businesses in Southeast Asia (SEA) detected 57,571 ransomware attacks from January to June 2024. Due to growing digital economy, geographical location and resources as regional hubs for finance and technology, and varying levels of cybersecurity infrastructure, the region remains a hotspot for ransomware attacks. Large organisations and SMEs continue to be targeted by cybercriminals “In general, …

BDO Chairperson Teresita Sy-Coson and BDO President and CEO Nestor V. Tan led a time capsule-laying ceremony on November 15, 2024, marking the commencement of construction of the new BDO Corporate Center Makati. The Makati complex is one of three BDO main office complexes, alongside the existing BDO Corporate Center Ortigas in Pasig City and the nearing-completion structure of BDO …

As it marks its 170th year in business, Tanduay continues to ramp up its global presence as the demand for its products continues to grow.  As of this writing, the brand is being marketed in 23 countries outside of the Philippines, with concentration in the regions of North and South America, Europe and the United Kingdom, and the Asia Pacific. …