Enrique K. Razon-led International Container Terminal Services Inc. (ICTSI), the world’s largest independent terminal operator, has signed a 25-year partnership agreement with Transnet SOC Ltd. for the strategic Durban Container Terminal (DCT) Pier 2 in South Africa. “The landmark agreement...
Japanese financial giant MUFG Bank Ltd. said investors have turned pessimistic following heightened political risks, but the relative strength of the Philippine peso is buoying sentiment. “Political risks are escalating as street protests call for President Ferdinand Marcos Jr.’s resignation...
Ayala-led Bank of the Philippine Islands (BPI) has partnered with leading digital payment services provider SingX Singapore Pte. Ltd. to give overseas Filipinos in Singapore, Hong Kong, and Australia a real-time remittance service. BPI said that, through this partnership, its clients can transfer...
Mitsui Fudosan Co. has acquired a 40 percent stake in a luxury, sustainable high-rise residential condominium project in Makati City from Arthaland Corp. for ₱724.93 million. In a disclosure to the Philippine Stock Exchange, the company said the investment was finalized through a joint venture...
Japanese financial giant MUFG Bank, Ltd, now sees the Philippine peso weakening at a deeper level, as the sudden shift in the Bangko Sentral ng Pilipinas’ (BSP) tone has also made the market more expectant of about two additional cuts. “We now pencil in the BSP cutting rates to 4.25 percent by...
Japanese financial giant MUFG Bank Ltd. expects the Bangko Sentral ng Pilipinas (BSP) to maintain the key policy rate at five percent throughout 2025 but anticipates the central bank will reduce it by another one percentage point (ppt) to four percent in 2026. Based on MUFG’s Sept. 24 report,...
Hong Kong-listed CSC Holdings Ltd., through CS Capital Investment Pte. Ltd., has completed its acquisition of a 26.3 percent stake in the Cabagangon group’s Citystate Savings Bank, Inc. In a disclosure to the Philippine Stock Exchange, CSBank announced that it was informed of the completion of...
Despite challenges faced by the local cement industry, Sumitomo Osaka Cement Co. Ltd. of Japan is acquiring a 15-percent stake in Phinma Corp.’s subsidiary Philcement Corp. Phinma disclosed to the Philippine Stock Exchange (PSE) that Philcement has signed a share subscription agreement with...
Japanese financial giant MUFG has forecast the Philippine peso to fare steadily against the United States dollar through the second quarter of 2026, as the latter bears the brunt of U.S. President Donald Trump’s attack on the Federal Reserve’s independence. MUFG projected the peso’s current...
Consumer prices may have risen at a faster pace in August, the central bank projected, as recent typhoons and excessive rainfall likely stoked the cost of basic goods, especially food items. Last month’s inflation is expected to clock within the range of one percent to 1.8 percent, according to...
Hotel101 Global Pte. Ltd., the Singapore-headquartered subsidiary of NASDAQ-listed Hotel101 Global Holdings Corp., has entered into definitive agreements to develop two hotel projects in Cambodia worth ₱6.3 billion. Hotel101’s parent company DoubleDragon Corp. reported to the Philippine Stock...
Despite recent interest rate cuts by the Bangko Sentral ng Pilipinas (BSP), inflation hitting nearly six-year lows in recent months, and still-muted second-quarter growth in some sectors, further reductions in key borrowing costs are seen as necessary. “We think the second-quarter GDP [gross...
