Gov’t fully awards 10-year bonds

THE GOVERNMENT made a full award of the 10-year Treasury bonds (T-bonds) it auctioned off on Wednesday even as its rate was slightly higher than the secondary market level due to worries over the highly infectious Delta variant of the…

A Brown files shelf registration of 50-M shares

A BROWN Co., Inc. has filed for the shelf registration of 50 million cumulative, nonvoting, non-participating, and nonconvertible peso-denominated perpetual preferred shares, along with an offer supplement for its initial P1.5-billion offering. The company on Wednesday said it submitted a…

Netflix eyes mobile video games amid slowing subscriber growth

NETFLIX, Inc. said it would make a deeper dive into video games as the movie and TV streaming service projected weak subscriber growth amid growing competition and the lifting of pandemic restrictions that had kept people at home. The company’s…

Japanese chain uses Pinoy ingredients to support food producers during pandemic

1 of 3 JAPANESE food chain Tenya, founded in 1989 by Yoshio Iwashita, has launched a menu called Tenya Lokal in its Philippine franchise that uses local ingredients from local food producers. This is part of the company’s coronavirus response,…

Premiere Horizon enters P2.5-B financing deal

PREMIERE Horizon Alliance Corp.’s (PHA) board of directors inked a put option agreement with global investment firm LDA Capital Ltd., the listed company said in a disclosure on Wednesday. “The funds to be generated from this agreement are expected to…

Fruitas opens more stores, nears target count

FRUITAS Holdings, Inc. has recently opened more community stores and is on course to reach its target openings by the end of the year. The listed food and beverage kiosks operator said in a stock exchange disclosure on Wednesday that…

Weak asset quality still a concern for banks

BW FILE PHOTO MORE THAN HALF of banks in the Philippines still expect nonperforming loans (NPLs) to continue to rise over the next two years due to the economic downturn, a Bangko Sentral ng Pilipinas (BSP) survey showed. The BSP’s…

Filipino athletes compete with coronavirus to strike gold at Tokyo Olympics

A woman walks past a large-scale reproduction of Tokyo 2020 Olympic Games medal at Nihonbashi Mitsui Tower in Tokyo, Japan, July 14. — REUTERS/KIM KYUNG-HOON By Michael Angelo S. Murillo, Senior Reporter WEIGHTLIFTER Hidilyn F. Diaz, 30, is one of…

VAT on local inputs of exporters under review

FINANCE SECRETARY CARLOS G. DOMINGUEZ III THE FINANCE department is reviewing a Bureau of Internal Revenue (BIR) regulation that imposes a 12% value-added tax (VAT) on previously exempt raw materials and packaging supplies sold by local manufacturers to exporters. “We…

Moody’s slashes Philippine GDP forecast for 2021

PHILIPPINE STAR/ MICHAEL VARCAS MOODY’S INVESTORS SERVICE slashed its 2021 growth forecast for the Philippines to 5.8%, saying the pandemic remains an “acute challenge” for the economy. Economic managers, on the other hand, expressed optimism the Philippines will hit the…

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