Business

Kuala Lumpur—Malaysia’s central bank said there is no need for “extreme measures,” such as pegging the currency or capital controls, to halt a slide in the ringgit. 

Jakarta, Indonesia—Indonesia’s president announced a Cabinet reshuffle, replacing key economic ministers with the aim of speeding up infrastructure spending to revive sputtering growth and stabilize the sliding rupiah. 

Hong Kong—China’s unexpected move last week to lower the value of its tightly-leashed currency, the yuan, sent shockwaves through global financial markets. The impact on consumers around the world and China’s neighbors will take longer to play out, but possible winners and losers are already emerging. 

By Lito U. Gagni There is a looming water crisis in the country whose breadth and scope is unprecedented and yet the government and populace remains clueless to the worst El Niño phenomenon to hit the globe. 

Globe Telecom continues to set a world-standard in retail with the opening of its 4th GEN3 store in Greenbelt 4, Makati. As the number 1 mobile brand in the country and leader in the digital space, Globe continues its major transformation efforts to give more customers an outstanding digital retail experience. 

By Riza Lozada Flag carrier Philippine Airlines’s parent company, PAL Holdings Inc., reported a 14-percent increase in profit to P55.94 billion in the first half of the year from P48.95 billion a year ago.

By Lito U. Gagni 8990 Holdings continues to rewrite the housing business in the country with its bold and innovative low price points for its housing units exemplified by its 2-percent down payment plan.

Property giant Ayala Land Inc. (ALI) reported its profit surged by 19 percent in the first semester of 2015 on the back of strong earnings from its property, commercial leasing and services.

The 18 automated weather systems (AWS) under Chevron Philippines Inc.’s (CPI) Metro Weather Project are properly functioning after the continuous and intensive maintenance procedures the company conducts with the start of the rainy season, CPI, which markets Caltex brand of fuels including Havoline and Delo lubricants, said.

Within this decade, the town of Concepcion in Tarlac province may become the hub of the country’s source of solar-generated energy.