In this new world, safety is priority The COVID-19 pandemic and the consequent lockdowns and movement restrictions compelled Filipino consumers to shift from cash to digital payments, and the use of digital platforms for fund transfers, InstaPay, and PESONet has increased tremendously. As of...
GrowSari, a Philippine B2B E-commerce player, has raised US$30 million in funding to date from global marquee investors including China’s Tencent, International Finance Corporation, and the Gokongwei Group. 17716 Founded in 2016, GrowSari is a tech-enabled B2B platform that outfits Philippine...
Metro Retail Stores Group, Inc.(MRSGI) has partnered with the Department of Trade and Industry (DTI) and various entrepreneurs and organizations to support their products through a succession of events that celebrate Filipino diversity and spirit of service amid the pandemic. The company has...
Sales of the Philippine retailing industry are expected to return to its pre-pandemic level in 2022 yet as the long lockdowns in the country badly affected traditional retailers despite acceleration of e-commerce to an even faster rate in 2020. In the “Top 100 Retailers in Asia 2021” by the...
Voting 20-0-0, the Senate approved on third and final reading a bill that would open up the Philippines' retail sector to foreign enterprises. Senate of the Philippines (Senate PRIB) Senators voted to pass on Wednesday, May 19, Senate Bill No. 1840, which proposes to amend the Retail Liberalization...
Senator Risa Hontiveros has warned lawmakers that eliminating all restrictions to foreign ownership of the country’s domestic retail trade would not be a wise option, especially amid an economic crisis due to the coronavirus (COVID-19) pandemic. Hontiveros said Senate Bill No. 1840 or the...
Cebu-based Metro Retail Stores Group, Inc. (MRSGI) suffered a net loss of P126.47 million in the first quarter of 2021 from the P7.98 million profit earned in the same period last year. In a disclosure to the Philippine Stock Exchange, the firm said lowered customer traffic due to quarantine...
Marikina Mayor Marcy Teodoro on Tuesday pushed for the reopening of retail stores or small businesses as the national government is set to decide on the next quarantine conditions for the country this week. Residents queue up to enter a market in Manila on March 28, 2021. (Photo by Jam STA ROSA /...
As far as the leader of a group of supermarket owners in the country is concerned, the recent reimposition of stricter community quarantine measures felt like both a "death sentence" and a "lifeline" to the retail industry. A restaurant staff cleans a table in preparation for the resumption of...
Cebu-based retailer Metro Retail Stores Group, Inc. (MRSGI) suffered a net loss of P449.6 million last year from the net income of P775.6 million recorded for 2019. In a disclosure to the Philippine Stock Exchange, the firm said the decline was due to a pandemic-driven 15.0 percent decrease in net...
The Philippine government will no longer extend the price ceiling on pork and chicken in Metro Manila, but will impose a price cap or suggested retail price (SRP) on imported pork only starting Friday, April 9. Agriculture Secretary William Dar announced during Wednesday, April 7 virtual briefing,...
The validity of Executive Order (EO) 124, which imposed a price ceiling on pork and chicken in Metro Manila, will end this week, and the government and private sector have two completely different sentiments about its effectiveness. For one, Noel Reyes, the spokesperson of the Department of...
