Top News

By Jerry Maglunog  Asian conglomerate San Miguel Corp. (SMC) has identified power and cement as its major growth drivers in the growing Philippine economy. SMC President Ramon S. Ang said SMC is spending $800 million to build two new cement plants in Pangasinan and Quezon.

By Riza Lozada  Big foreign investors continue to bypass the country, despite government claims of improved business perception, as shown by the country’s measly 4.6-percent share in the total foreign direct investments (FDI) that flowed into the economies of the Association of Southeast Asian Nations (Asean) in the first half of 2015. 

By Lito U. Gagni  Local market players, as well as employees of top snack producer Liwayway Marketing Corp., are opening bank accounts in Hong Kong, preparatory to the projected listing of the company’s shares in the Hong Kong Stock Exchange. 

By Luis Leoncio The Lee family of South Korea that controls the Samsung Group, tops the list of Asia’s richest, with a combined wealth of $26.6 billion, Forbes Asia said during the launch of its inaugural ranking of the top 50 Asian business dynasties. 

By Luis Leoncio  Another technical glitch marred operations at the Philippine Stock Exchange (PSE) last week and raised fresh jitters in the local bourse, as this was the fourth time the PSE halted operations since migrating to a new trading system. 

The World Economic Forum (WEF) has cited several “problematic factors” hampering the Philippines’ business environment, even as it reported that the country rose five places to the 47th spot in the recent World Economic Forum-Global Competitive Index (WEF-GCI). 

By Riza Lozada  The government, finally heeding the growing demand to lower the cost of electricity—reputed to be the highest among members of the Association of Southeast Asian Nations (Asean)—has announced a plan that requires power distributors to hire foreign auction managers who would make sure that electricity is bought from suppliers at the lowest price. 

By Jerry Maglunog The country’s growing population of 101.6 million, with an average that puts the majority at working age, or what the government calls the “demographic sweet spot,” is among the primary reasons investors are starting to flock to the country. 

By Luis Leoncio  The Asian Development Bank (ADB) has issued a warning on the adverse impact of the tightening of monetary policies in the United States on foreign capital in the region, including the Philippines. 

As a growing number of local and foreign business groups continued to support a congressional initiative to reduce income and corporate taxes, a former budget official blasted the arguments raised by President Aquino in opposing it.