MANILA, Philippines — Conglomerates Alliance Global Group Inc. (AGI) and JG Summit Holdings Inc. are betting on the travel and tourism industries to lead their post-pandemic recovery. AGI, through subsidiaries Megaworld Corp. and Travellers International Hotel Group Inc., is engaged in real estate development and tourism-entertainment and gaming, while JG Summit’s businesses include budget airline […]
Read MoreMANILA, Philippines — Ayala Land Inc. has secured the approval of corporate regulators for its plan to infuse more commercial properties to AREIT Inc. in exchange for additional shares, a transaction that would further expand the real estate investment trusts (REIT) firm’s portfolio. In a disclosure to the stock exchange on Monday, Ayala Land said […]
Read MoreMANILA, Philippines — Car manufacturers posted a double-digit sales growth in September, a performance that the industry considers “crucial” to achieving its sales target for this year. What’s new Automakers sold a total 21,492 units in September, 35.6% higher compared to sales in August when Metro Manila and other provinces briefly returned to harsh lockdowns, a […]
Read MoreMANILA, Philippines — The main index failed to sustain its climb after leaping past the 7,000 mark to an eight-month high on Wednesday, but traders believe the market could gain momentum from the easing of restrictions and fewer cases of COVID-19 over the past week. The benchmark Philippine Stock Exchange index (PSEi) ended lower for […]
Read MoreMANILA, Philippines — The share of digital payments to total retail transactions topped 20 percent last year as the pandemic served as a catalyst to digitalization, the Bangko Sentral ng Pilipinas said. In his weekly virtual press conference, BSP Governor Benjamin Diokno said the central bank achieved its objective under the National Retail Payment System […]
Read MoreMANILA, Philippines — As economic activities crawl back to full capacity, the trade sector is expected to sustain its recovery for the rest of the year, but authorities should remain vigilant against the resurgence of cases that may require a revert to lockdowns. In an economic bulletin, Finance Undersecretary and chief economist Gil Beltran said […]
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