Author: Business News Asia

The stars of “Penduko”, an official entry of the Metro Manila Film Festival met the Cebu media and Cebuano fans in SM Seaside City Cebu on December 19. Proud Cebuano Matteo Guidicelli together with actress Kylie Versoza answer questions from the media during the press conference held at the Large Screen Cinema of SM Seaside City Cebu. Matteo Guidicelli is very high on emotions as he portrays Philippine cinema’s legendary superhero Pedro Penduko. “It’s a movie that has great performances, great actors. It’s a very exciting film to watch. It is also something that we Filipinos can be very proud…

Subic Bay Freeport – Subic Bay Metropolitan Authority (SBMA) hailed the companies investing inside this premier Freeport for their outstanding performance this year at the Mabuhay Awards 2023 held at the Subic Bay Exhibition and Convention Center (SBECC) on Friday. SBMA Chairman and Administrator Jonathan D. Tan led the awarding ceremony as the agency handed out trophies to 20 companies who have shown exemplary and innovative accomplishments during the year 2023. The ceremony commenced with the Micro Small and Medium Enterprises (MSMEs) category with Smile Concepts Implants and Cosmetic Dentistry Clinic winning the Micro category, Consummare, Inc. for the Small…

The Cebu Chamber of Commerce and Industry (CCCI) proudly announces the appointment of Regan Rex King as the Overall Chairman of its flagship program, Cebu Business Months (CBM) 2024. This strategic move marks a significant step forward in fostering economic growth, innovation, and collaboration within Cebu’s business landscape. CBM stands as a pivotal platform aimed at inspiring, promoting, and nurturing the growth of Cebu businesses. This series of events and activities serve as a catalyst for local businesses to showcase their products and services, exchange ideas, and explore avenues for expansion. The program’s core focus revolves around the Tourism, Information…

In a show of support to local startups, leading fiber broadband provider Converge ICT Solutions Inc. provided free internet connectivity to the Geeks on A Beach (GOAB) conference, which connects emerging entrepreneurs with venture capital investors and technology, design, and innovation leaders. Co-organized by the Department of Information and Communications Technology (DICT) and the social enterprise #GeeksPH, GOAB returned this year after a five-year hiatus. Over 300 technopreneurs, startups, investors, venture capitalists, and angel sponsors gathered at the Bellevue Resort in the beach town of Panglao, Bohol. Converge Co-Founder and CEO Dennis Anthony Uy said Converge has always been supportive…

Payroll is arguably the most important aspect of running a business. However, ensuring that your organization’s finances are secure and accurate through proper payroll management can often be confusing and difficult to keep up with. That’s why we’ve created this blog post – to help demystify the world of payroll for you and teach you how to manage it like a pro. Here, you will learn 6 timeless tips for making sure all your bucks stay on point! With careful considerations regarding compliance regulations, employee compensation management systems, deduction reconciliation processes, and more – you’ll come away from this blog…

The Court of Appeals (CA) based in Cebu City reversed a Bacolod City regional trial court’s ruling and ordered the lifting of the suspension of warrant of arrest against Emily V. Yanson, former corporate secretary of Ceres Transport Inc. (CTI) for perjury and falsification of public documents. In a 34-page decision dated October 27, 2023, the CA 19th Division reversed and set aside the orders of Bacolod City RTC Branch 45 dated August 5, 2022 and October 20, 2022 respectively which suspended the warrants of arrest issued by a lower court against Emily V. Yanson. “The MTCC (Municipal Trial Court…

Biorithm, a pioneering women’s health MedTech company, has raised $3.5 million in Series A funding, co-led by Adaptive Capital Partners and SEEDS Capital, part of Enterprise Singapore. This investment marks a significant milestone in Biorithm’s mission to enhance pregnancy care globally. Focused on reducing childbirth-related mortality, Biorithm is innovating with Femom, a technology for remote monitoring of maternal and fetal health. Femom integrates patient monitoring, personalized guidance, and predictive analytics to help clinicians identify early complications. Amrish Nair, Biorithm’s CEO, expressed deep commitment to improving maternal health and preventing complications, highlighting the socio-economic challenges and technology limitations in maternal care…

CEBU, Philippines – The renowned Italian restaurant Cibo inaugurated its first branch in Cebu at SM Seaside City on December 15. This marks the popular restaurant’s debut in the Queen City of the South, bringing its unique blend of authentic and modern Italian cuisine to a new audience. Founded by the celebrated Filipino Chef Margarita Araneta Fores, Cibo’s journey began in 1997 following Fores’ extensive culinary training in Italy under the guidance of three Italian signoras. Her passion for Italian cuisine and experience in the bustling cities of Milan and Rome inspired the creation of Cibo, a modern Italian caffe-paninoteca…

Cebu’s 5th District continues to boost its air transport sector with another airport project as its representative, Cong. Vincent Franco “Duke” D. Frasco, files House Bill (HB) No. 9665, providing for the construction and establishment of Sogod Cebu International Airport. Cong. Frasco acknowledges the air transport sector as a vital enabler of economic growth and development, playing a significant role for high-value industries such as trade, manufacturing, and tourism. His HB No. 9665 seeks to establish an international airport in the Municipality of Sogod, Cebu with a vision of creating more jobs for his constituents, enhancing the tourism industry, attracting…

Are you ready to take your business across borders? International expansion is a great way for businesses to grow and succeed in new markets. But before you dive into an international market, there are specific steps you need to consider: crafting a strategic plan. Whether it’s determining the competitive landscape of a target country or understanding local customs and regulations, an effective international business plan can lay the foundation for long-term success while also providing guidance on how best to allocate resources and manage risks. But where should one begin? Let’s dive into it! Analyze Potential Markets In today’s global…

Solidifying her reputation as one of the country’s leading women entrepreneurs and tycoons, Converge President and Co-Founder Grace Y. Uy receives recognition once again in the acclaimed Stevie Awards for Women in Business, winning the Gold Stevie for Woman of the Year – Technology category. The Stevie Awards for Women in Business honors women entrepreneurs, executives, employees, and the organizations they run for their impact on and contribution to their respective industries. Since Converge was founded in 2007, Uy committed herself together with her husband, Converge CEO and Co-Founder Dennis Anthony Uy, to uplifting the unserved and underserved, pledging to…

The annual tradition of paying tribute to overseas Filipinos (OFs) and their families during the holiday season continues, and this time in Cebu City. During a media briefing on December 9, SM & BDO announced that the much anticipated “Pamaskong Handog” is back and will have star-studded and exciting activities for the OFWs in Cebu. Present during the media briefing were BDO Senior Vice President BDO Remittance Genie T. Gloria, and SM Supermalls vice president for Mall Operations Visayas, Michelle Llanos. Amazing prizes and exclusive perks were given to Overseas Filipino families during the program in the afternoon at the…

In the spirit of giving and spreading holiday cheer, SM Supermalls and BDO Unibank, Inc. (BDO) once again bring smiles to the faces of Overseas Filipino families through the 12th Pamaskong Handog event. This year’s celebration, in collaboration with Remitly, promises unforgettable moments for BDO Kabayan and BDO Network Bank Kabayan Savings account holders. Amazing prizes, exclusive perks, and awesome bonding moments await Overseas Filipino families! This year’s heartwarming celebration will be graced by BDO’s long-time endorser Piolo Pascual and the newest addition to the BDO family – social media influencer Small Laude. BDO and Remitly have prepared a ton…

Fiber broadband and technology provider Converge ICT Solutions Inc. has united with businesses around the globe in the call for governments to crack the whip against corruption affecting business communities worldwide. Converge Chief Strategy Officer and Chief Sustainability Officer Benjamin Azada represented the company as he joined other business leaders in signing the Call-to-Action from Business to Governments on the 20th Anniversary of the UN Convention against Corruption (UNCAC). “Corruption remains one of the most harmful threats to sustainable development, causing crippling implications to industries and economies at large. Converge is one with the UN and the business community in…

ESR Group Limited announced that its application for the registration and listing of ESR China REIT (“ESR C-REIT”) <中航易商仓储物流基础设施 REIT > has been received by the China Securities Regulatory Commission <中国证券监督管理委员会> and the Shanghai Stock Exchange <上海证券交易所>. The Manager of the ESR C-REIT is AVIC Fund, a publicly offered infrastructure securities fund. ESR Group is the Sponsor of ESR C-REIT and unitholders in the REIT will benefit from ESR Group’s large portfolio of assets under management and development work-in-progress to provide a pipeline of potential acquisitions for ESR C-REIT. In China, ESR Group manages over 190 assets valued at US$30.8…

ACEN Renewables International Pte. Ltd (ACRI), a subsidiary of ACEN CORPORATION (ACEN) based in Singapore, has signed its first USD100 million green term loan facility from MUFG Bank, Ltd. (MUFG), part of leading global financial institution Mitsubishi UFJ Financial Group (MUFG). This investment will be directed toward the growth and development of ACEN’s renewable energy projects beyond the borders of the Philippines. This green long-term facility is part of ACEN’s strategic expansion into several international markets including Australia, which stands as the company’s largest market outside of the Philippines. The funding aligns with ACEN’s ambitious goal of achieving 20 GW…

CEBU CITY – The SM2SM Run, a highlight in the regional running calendar, is set to return for its 12th year on March 3, 2024, at SM Seaside City Cebu. This much-awaited event promises a blend of excitement and challenging courses for participants of various skill levels. The 2024 edition of the SM2SM Run will feature four distance categories: 4K, 8K, 12K, and 21K, catering to a wide range of runners, from beginners to seasoned athletes. Registration fees for these categories are set at P599 for the 4K, P699 for the 8K, P799 for the 12K, and P999 for the…

Subic Bay Metropolitan Authority (SBMA) Chairman and Administrator Jonathan D. Tan predicts that the P5.5-billion joint venture between the agency and the Harbour Centre Port Terminal Inc. (HCPTI) will spur growth in the port businesses of this premier Freeport. During the inauguration of the Subic Port at the Naval Supply Depot (NSD) here, the 10-year Subic Port joint venture will revitalize the ports, yards, and cargo handling inside this Freeport. The JV also includes the development, operation and management of several ports inside the former US naval base. “Our goal at SBMA is in line with HCPTI’s goal of creating…

A bus operated by Vallacar Transit Inc. (VTI) veered off a ravine on December 5, 2023, at KM 174, Igbucay, Hamtic, Antique, resulting in at least 12 deaths, including nine passengers and three crew members. The accident occurred around 4:30 PM as Ceres bus number 6289, carrying 24 passengers, traveled from Iloilo to Culasi. VTI expressed its condolences to the victims’ families and has pledged to assist with medical and burial expenses. The area where the accident occurred is known for being hazardous, with a history of similar incidents. In response to the tragedy, VTI has temporarily suspended operations of…

Fiber broadband and technology provider Converge ICT Solutions Inc. has stepped onto the global stage to impart its journey toward digital inclusion, and how it contributes in advancing the United Nations’ targets for universal meaningful connectivity. Speaking to the delegates of Telecoms World Asia held in Bangkok, Thailand, Converge Chief Strategy Officer and Chief Sustainability Officer Benjamin Azada shared insights on bridging the digital divide through telecom infrastructure, in line with the company’s commitment to leave no one behind in serving world-class connectivity, especially to the unserved and underserved. “It’s really about using your existing investments in your infrastructure to…