The proposed merger between the tollway businesses of San Miguel Corp. (SMC) and Metro Pacific Investments Corp. (MPIC) is on track for completion in the third quarter of the year, with the plan currently in the valuation stage. MPIC Chairman Manuel V. Pangilinan confirmed that both companies are...
Artificial intelligence (AI) is beginning to reshape trade processes across the Asia-Pacific region, but adoption remains limited as economies grapple with skills shortages, infrastructure costs, as well as regulatory challenges, according to a joint study by the Bangkok-based United Nations...
Philippine conglomerates operating in critical sectors like real estate, power, energy, and telecommunications are facing heightened financial strain from the strengthening United States (US) dollar, which threatens to inflate the cost of their foreign-denominated debt. The brewing corporate...
Airlines are projected to see their combined profits cut in half to $23 billion this year as margins tighten further amid higher jet fuel costs, whose prices have soared due to the ongoing conflict in the Middle East, according to the International Air Transport Association (IATA). Based on its...
The Meralco Theater in Pasig City is built to showcase spectacle, but on a late May evening, the most arresting sight was the man in the wheelchair. Manuel V. Pangilinan—the 79-year-old tycoon, known by his initials, MVP—was celebrating the 45th anniversary of First Pacific Co., the Hong...
Del Monte Pacific Ltd., the food and beverage conglomerate led by the Campos family, raised ₱870 million ($14.13 million) by offloading its remaining stake in India’s Sundrop Brands Ltd., moving to shore up liquidity and pay down debt at its main Philippine operating unit. In a disclosure to...
Metro Pacific Water (MPW), a unit of tycoon Manuel V. Pangilinan’s Metro Pacific Investments Corp. (MPIC), has taken over the water distribution network of San Jose del Monte City in Bulacan on an interim basis. In a statement on Friday, June 5, MPW said the local government of San Jose del...
The country’s largest business group and investment promotion agencies (IPAs) expect the government’s new investment promotion framework to encourage the entry of capital aligned with global growth trends, such as artificial intelligence (AI). Management Association of the Philippines (MAP)...
The Philippine Coast Guard (PCG) is set to deploy for the first time one of its vessels to Hawaii to participate in the 30th edition of the Rim of the Pacific (RIMPAC) Exercise to determine not only its ability to operate alongside foreign counterparts but also its logistics system and law...
The Armed Forces of the Philippines (AFP) said it will verify the alleged exercises conducted by a massive Chinese carrier strike group in the Pacific Ocean, specifically east of Luzon, as an official admitted the military only learned of the deployment through public bulletins issued by Japan. The...
Passenger traffic in the Asia-Pacific region expanded by five percent in the first four months of the year to more than 130 million compared to a year ago, driven by sustained demand for longer-haul routes despite costlier plane tickets. Based on preliminary data from the Association of...
The Philippines is expected to remain a major supplier of caregivers, nurses, and domestic workers to aging economies in the Asia-Pacific region, although state-run policy think tank Philippine Institute for Development Studies (PIDS) warned that Filipina migrant workers continue to face precarious...
