Author: Business News Asia

In a harrowing incident that has drawn international attention, a U.S. couple is presumed dead following a boat hijacking in the Caribbean, according to local police authorities. The event, marking a rare occurrence of piracy in the popular tourist region, has sparked concerns over safety and security on the open seas. The couple, whose names have not been released pending notification of next of kin, were enjoying what was supposed to be a leisurely voyage across the serene waters of the Caribbean when their vessel was overtaken by unidentified assailants. Details surrounding the hijacking remain scarce, but officials have confirmed…

Movate (formerly CSS Corp), a digital technology and customer experience (CX) services provider, has inaugurated its 3rd global delivery center in the Philippines. The new center will strengthen Movate’s regional presence and will leverage highly skilled local talent with multilingual capabilities to deliver high-touch services in the digital customer experience arena. Movate’s expansion in the Philippines is a strategic move, enabling the company to meet the rising demands of global enterprises, especially in the US and EU regions. The center will provide a range of services, including multilingual customer care, revenue acceleration, tech support, and professional services. Located in the…

Chinabank has signed up its first ever brand ambassador, the reigning Miss Universe Philippines Michelle Marquez Dee. The collaboration was formalized on February 14, 2024 at the Chinabank head office in Makati City. The beauty queen, actress, host, athlete, and model is a fitting and inspiring representative for Chinabank. Michelle, who has won the hearts and minds of Filipinos and the world with her charisma, authenticity, and sense of purpose, is redefining contemporary Filipino culture on a global stage. Her lifelong autism acceptance and inclusivity advocacy has led her to a degree in BS Psychology and to use her platform…

Quest Hotel Cebu has partnered with Guilang Tableya, one of Cebu’s premier chocolate artisans, to introduce “Painitan sa Puso,” a new dining concept celebrating the rich flavors of Filipino snacks, delicacies, and pastries. Starting February 22nd, guests are invited to indulge in a specially curated spread at the hotel’s Puso Bistro and Bar every Friday and Saturday from 3 PM to 5 PM. This unique partnership marries the innovative culinary talents of Puso Bistro and Bar with the traditional chocolate craftsmanship of Guilang Tableya, offering a fusion of flavors that promises to delight guests. The event is a nod to…

Blender Bites Limited (CSE: BITE, FWB: JL4, WKN: A3DMEJ), the Canadian award-winning company known for its development and marketing of premium frozen functional food and beverages, has announced a significant retail expansion. Its flagship products, Power Berry™, Green D-Tox™, and Liquid Sunshine™ 1-Step Smoothies, have now been launched in 314 stores under the Southeastern Grocers Inc. (SEG) banner, marking a major step in the company’s U.S. market penetration. SEG, a leading omni-channel retailer in the United States and parent company to well-known grocery chains like Winn-Dixie, Harveys Supermarket, and Fresco y Más, operates an extensive network across Alabama, Florida, Georgia,…

PanGenomic Health Inc. (CSE: NARA) (AQSE: NARA), a pioneering precision health company, has announced its plan to delist its Class A Common Shares from the Aquis Stock Exchange Growth Market (AQSE). The Vancouver-based firm cited sparse trading volume on the AQSE’s Access Market segment as the primary reason behind its decision. According to the AQSE Access Rulebook, PanGenomic Health is obligated to provide a 20-business day notice ahead of its withdrawal. Consequently, the trading of its shares on the AQSE will come to a halt at 4:30 pm UK time on March 15, 2024. However, the company’s shares will continue…

Wipro Limited announced an expanded collaboration with Intel Foundry to accelerate chip design innovation. As the key Design Services and Alliance Partner, Wipro will work with Intel Foundry to accelerate the development of Intel’s most advanced process nodes, including the Intel18A process node. The global AI chip market is expected to grow at a CAGR of 38 percent annually from 2023 to 2032. This collaboration between Wipro and Intel Foundry is designed to address the rising demand for AI chip manufacturing, as companies race to roll out generative AI-enabled products. Wipro’s design services strength paired with Intel Foundry’s manufacturing prowess…

In view of the increasing demand for passport appointment slots in the Visayas Region, the Department of Foreign Affairs announced the launch of the DFA Consular Office Cebu Passport Satellite Office (PSO) at the 2nd level of SM City Consolacion in Brgy. Lamac, Consolacion, Cebu. The opening of the PSO is part of the DFA’s continuing efforts to make passport services easier and more accessible to the public. Initially, PSO-SM Consolacion is expected to serve 150-200 applicants daily and will gradually increase the offered appointment slots in the next months. The PSO is supervised by a DFA Consular Office (CO)…

The Philippine stock market closed lower on Monday, with the benchmark PSEi index down 1.09 percent at 6,798.61, StockMarketNews.ph reported. The All Shares index also fell by 0.97 percent to 3,562.61. Industrial and property sectors led the declines, dropping 1.52 percent and 1.71 percent, respectively. The financial sector showed minimal losses, decreasing by just 0.03 percent. The PSE Dividend Yield and MidCap indices were down by 1.51 percent and 0.88 percent, highlighting a cautious investor sentiment. Market activity was brisk with 637,715,344 shares traded, but declines (134) significantly outnumbered advances (59). The market’s downturn reflects investor concerns over economic factors…

This week on the Philippine Stock Exchange, ten companies led as the top weekly price gainers, with Medco Holdings Inc. (MED) at the forefront, witnessing a 39.56% rise in its stock price to PHP 0.127, StockMarketNews.ph reported. Despite a negative Price-Earnings Ratio (PER) of -71.51, investor enthusiasm for Medco’s potential was evident. Metro Alliance Holdings & Equities Corp. “A” (MAH) followed closely with a 39.53% increase to PHP 0.6, despite negative earnings indicators, hinting at speculative interest or expected growth. TKC Metals Corporation (T) showed a robust gain of 36.62%, closing at PHP 0.485, with a positive financial outlook underscored…

On February 16, 2024, the Philippine stock market closed mixed, with the PSEi down 0.13% at 6,873.23, reflecting a cautious trading mood, StockMarketNews.ph reported The All Shares index slightly fell by 0.11%, while sectors like Industrials and Services showed gains, indicating selective investor sentiment. Industrials led with a 0.55% increase, and Services rose by 1.03%, showcasing resilience. Conversely, Holding Firms and Property sectors faced declines, dropping by 0.97% and 0.35%, respectively. The Mining & Oil sector also decreased by 0.20%. Positive movements in thematic indices, such as the PSE Dividend Yield and MidCap, suggest a growing interest in specific stock…

The Philippine Stock Exchange (PSE) ended higher on Thursday, with the PSEi index up 0.40% to 6,882.15, signaling cautious investor optimism, StockMarketNews.ph reported. The All Shares index rose 0.37% to 3,601.55, led by Industrials with a 1.04% gain and Services up 0.73%. Financials also increased by 0.62%, closing at 1,982.45. Conversely, the Property sector dipped by 0.38%, closing at 2,937.38. The Mining & Oil index modestly grew by 0.33%, and the PSEi Total Return Index advanced 0.39% to 2,817.51. The PSE Dividend Yield Index saw a slight rise of 0.29%, while the PSE MidCap Index fell by 0.17%. Trading was…

The Philippine Stock Exchange (PSE) closed higher today in a mixed trading session, reflecting cautious optimism among investors. The PSEi, the benchmark index, rose by 26.61 points or 0.39 percent, ending the day at 6,854.53. This uptick is a positive sign for market participants, signaling potential stability and growth in the local economy. The All Shares index also saw a gain, increasing by 11.35 points or 0.32 percent to settle at 3,588.23. This incremental growth indicates a broad-based optimism, albeit cautious, across the various sectors. In sectoral performance, Financials led the gains with a 0.53 percent increase, closing at 1,970.23,…

Globe reached a financial milestone for 2023, achieving a record consolidated EBITDA or earnings before interest, taxes, depreciation, and amortization of PHP81.4 billion, a 3% increase from the previous year’s PHP79.1 billion. This growth is attributed to a healthy 3% expansion in the company’s topline, effectively balancing the rise in operating expenses. It underscores Globe’s operational excellence and strategic focus, resulting in an EBITDA margin of 50%, aligned with its full-year guidance. “The solid EBITDA growth this year underscores our robust financial condition and our capability to continue expanding and achieving profitability amidst steep competition. It’s a clear indicator of…

Symph’s recent Tech Listens event, part of a monthly series dedicated to exploring the intersection of technology and industry, once again illuminated the power of collaborative innovation in accelerating societal progress. For its February gathering, Tech Listens selected the prestigious University of the Philippines Cebu as its venue, drawing a broad spectrum of attendees. This included students, IT professionals, entrepreneurs, and government officials, all converging to acquire knowledge and create connections that surpass the usual confines of their respective industries. A highlight of the evening was the keynote address by Director General Joel Marciano Jr. of the Philippine Space Agency.…

Marriott Hotels, the namesake brand of Marriott Bonvoy’s extraordinary portfolio of over 30 hotel brands, debuts its first hotel in Penang, Malaysia. The brand’s entry into Penang is a testament to architectural brilliance, offering an unrivaled blend of timeless style, charm, and the cultural tapestry that makes Penang unique. Situated along the prime, seafront location of Gurney Drive, Penang Marriott Hotel is a stunning property that promises breathtaking sea and city views in addition to its central location of George Town, a UNESCO World Heritage Site. “As one of Malaysia’s most lively leisure destinations and a hub for business travelers,…

Love is in the air, and SM Supermalls is turning February into a magical journey like no other! Experience the convergence of Chinese New Year and Valentine’s Day at Luck in Love– a spectacular blend of traditions, festivities, and romantic moments that will sweep you off your feet with activities happening from February 1 to 29, 2024. Indulge in the magic of togetherness as SM malls host the Luck in Love Feast. This event will bring people together over special food and dining deals because what better way to celebrate the Love Month and Chinese New Year than over a…

In the heart of Cebu City, a new lifestyle hotel, lyf Cebu City, is redefining the concept of communal living and working spaces for a diverse clientele, from digital nomads and startup founders to families and single travelers. Rey Vergel Mulat, the lyf Champion at lyf Cebu City, shares insights into the unique offerings and vision behind this innovative property. lyf Cebu City, which officially opened its doors more than two weeks ago, has quickly become a beacon for those seeking a blend of comfort, style, and functionality. The hotel, according to Mulat, is not just about providing rooms but…

The Educational reforms in the country will all be put to naught even if we have the finest curriculum and best teachers and yet we have no adequate classrooms conducive for learning, said Department of Education Undersecretary Epimaco Densing III before the Association of Baragay Kagawad (ABAKA) in Sta. Rosa Laguna on Saturday. Usec Densing is the Officer in Charge for Schools Programs Management Office and Educational Facilities Division revealed that there are 168 classroom backlog of more than 165,000 all over the Country. He reiterated that the staggering shortage has affected at least 4 to 5 million students nationwide.…

The 2024 Dinagyang Festival is set to unfold this week and Ilonggos and visitors are in for a spectacle as Iloilo City is poised to entertain guests with its diverse culture and talents that will surely send the party mode on. Afterall, Dinagyang is a Hiligaynon term for Merrymaking. The festival is a perfect representation of the Ilonggos zest for life’s adventures and resilience amidst the challenges. The private sector’s support has been a major force in making the Dinagyang a success through the years. SM City Iloilo, a major corporate partner of the Iloilo City government, has line up…