Author: Iselle Chua

Chairman and CEO of the Philippine Amusement and Gaming Corp. (PAGCOR), Alejandro Tengco has revealed that the company wants to take private control of the country’s casino sector. He announced that the company is shifting into a purely self-acting status.  During his tenure as CEO, Tengco said that the company planned to sell its casino section to a third party to expand the power of the board and to produce more casino gaming projects. He announced his plans at the start of the ASEAN Gaming Summit held at the Marriott Manila Hotel. Since Tengco was appointed CEO of PAGCOR in…

Prep, an online learning platform based in Vietnam that specializes in standardized language test preparation, has raised $1 million in funding co-led by East Ventures and Cercano Management. The funding round will bring Prep’s total funds raised to $2 million, including $1 million invested by Touchstone Partners earlier in 2022. The new investment will help Prep accelerate its product development and increase adoption in the market. Prep offers online courses and mock exam solutions for standardized language tests like IELTS, TOEIC, and the High School Graduation Exam. The platform provides personalized learning experiences that are result-oriented, engaging, and tailored to…

Alchemy Pay has partnered with DWF Labs, a web3 investment firm, to expand its payment business in the Korean market. The partnership has secured $10 million in funding to capitalize on the region’s high level of cryptocurrency acceptance and assist Korean enterprises in achieving greater internationalization. Alchemy Pay has partnerships with major payment channels like Visa, Mastercard, Discover, Diners Club, Google Pay, and Apple Pay, as well as local mobile wallets and domestic transfer options. The company has over 300 local alternative payment channels, extending its reach beyond traditional credit cards. Alchemy Pay has established an extensive coverage area encompassing…

In the western province of Alberta, Canada, two police officers have been shot and killed while responding to a family dispute, BBC News reported. The Edmonton Police Service said the suspect responsible for the fatal shooting is a 16-year-old male who died from a self-inflicted gunshot wound. The suspect’s mother, a 55-year-old woman, was also shot and taken to the hospital with life-threatening injuries. The two officers killed were Travis Jordan and Brett Ryan, both of whom worked with the Edmonton Police Service for more than five years. The officers were responding to a domestic dispute call made by the…

PLDT, the largest integrated telecoms company in the Philippines, has announced that its subsidiaries, Smart Communications and Digitel Mobile Phils., have signed a Sale and Purchase Agreement with Frontier Tower Associates Philippines for the sale of 1,012 telecommunications towers and associated passive telecommunications infrastructure for over PHP12.1 billion ($239 million). This brings the total number of towers monetized via sale and leaseback transactions to over 7,500 for a total consideration of more than PHP98 billion ($1.93 billion). Frontier is a subsidiary of Pinnacle Towers, an Asia-focused digital infrastructure platform with a strong focus on the Philippines market, in which KKR…

Nickel Asia Corporation (NAC), a Philippine-listed natural resources development company, reported a net income of P7.93 billion for 2022, an increase of 1.5 percent from the P7.81 billion it reported in 2021. Despite the lower sales volume during the period, the company’s revenues increased by 2 percent to P28.03 billion from P27.40 billion in 2021 due to higher nickel ore prices and favorable exchange rates. The company’s five operating mines sold a combined 15.94 million wet metric tons of nickel ore during the year, a decrease of 11 percent from the 2021 level of 17.94 million WMT, almost in direct…

Filipina tennis star and Globe ambassador Alex Eala is finally back home for a brief vacation, carving out time to visit the Globe Tower where she met with the media and reconnected with Globe employees. The 17-year-old tennis ace is coming off her first stint as a pro at the 2023 Australian Open last month. As crucial as diligent training and competing in high-level tournaments are, Eala says finding time for some rest and relaxation is just as important. “It’s very important. I think that rest is also a big part of the journey. Rest is also a part of…

The International Finance Corporation (IFC) today announced the appointment of Riccardo Puliti as its new Regional Vice President for Asia and the Pacific. Puliti will oversee IFC’s regional efforts in spurring private sector growth and identifying impactful collaborations for a green, resilient, and inclusive recovery, in response to multiple crises and a deteriorating global economic outlook. Economies in the Asia and Pacific region continue to suffer from COVD-19 disruptions, the Russian invasion of Ukraine, and tightening global financial conditions, including through higher food and energy prices. In addition, weaker global growth and more frequent disruptive weather events linked to climate…

In an effort to help address persistent unemployment and underemployment in the Philippines, the Asticom Group of Companies, a shared services provider under the Globe Group, has launched a new platform that promises to revolutionize job and talent search. Launched on January 19, Acquiro Solutions and Tech Inc. aims to streamline job hunting among seekers and the search for talents among recruiters and companies. A spin-off from Asticom’s staffing solutions business, this new addition to the group aims to assist a diverse range of job seekers including fresh graduates, career shifters, interns, and gigsters to find suitable careers. At the…

DHL Supply Chain, the world’s leading contract logistics provider and a business division under Deutsche Post DHL Group, has appointed Mihaela Isac as its Chief Information Officer (CIO) for Asia Pacific. Isac was most recently Vice President of IT Life Sciences & Healthcare in North America, where she was responsible for enhancing the organization’s IT offering in transportation and warehousing in the life sciences sector. “Mihaela has been with DHL Supply Chain for over a decade, and her achievements during this period speak for themselves. I am confident that her international experience and capabilities make her the perfect choice to…

Having a proper office is key to develop your company and while there are various options available in Hong Kong, choosing one that perfectly fits your budget and that is tailored to suit your needs can be challenging. The city offers different options that would suit freelancers, small companies and large corporations, but there are different types of criteria you might want to take into consideration before finding the right office for your company. 1. Costs and Budget Before you can dive into nitty-gritty details of your office-to-be and start suiting different locations to your needs, it’s better to see…

Planned Dubai hotels will account for 76% of new keys adding to the UAE’s existing 200,000 rooms. The total investment in the UAE’s hospitality sector is valued at USD 32 billion as per the data shared by global property consultancy, Knight Frank. The UAE’s hotel development pipeline is expected to experience a 25% growth by 2030 as more global travellers continue to book cheap flights and make their way to the gulf country. According to Faisal Durrani, Knight Frank’s Head of Middle East Research, “Dubai is set to account for the lion’s share of this total, with 76% of all new…

Most startups engage in doing business on a limited budget to bring a change in society. Not only are the startups known to bring innovations but also to create millions of jobs across different economies. However, now startups and other businesses are feeling the burn of inflation. According to reports, the consumer price index has increased along with the producer price index. The market is constantly fluctuating, and out of all the industries and sectors, start-ups and small businesses are the most vulnerable category. This is how inflation impacts start-ups and businesses. Interest Rates Go High Firstly, in inflation, the…

If you’re aspiring to start your own business, you’re likely to have come up with a business idea. While that’s a great start, there’s more to entrepreneurship than that. To carry your idea all the way through, you need to put the right amount of time, effort, and dedication into planning things beforehand. Only then will your idea see the light, and your business will grow and flourish. Starting a successful business has to start somewhere, right? The tips we’ll provide in this article will help you get off on the right foot and have a real chance at succeeding…

China is expects to attract more foreign investors in the country as it seeks to roll out more measures to optimise the country’s business climate, among others, according to a China Daily report. According to experts and analysts quoted in the report, China is increasingly attractive to foreign investments, despite some headwinds, due to its growing weight in the global industrial chain, the expanding domestic market, and policies facilitating foreign investment. “Some people are worried that foreign investment may flow out of China due to pressure from countries seeking to reconstruct global industrial and supply chains by excluding China, but…

Amazon is acquiring global consumer robot company iRobot in an all-cash transaction valued at approximately $1.7 billion dollars, including iRobot’s net debt. Completion of the transaction is subject to customary closing conditions, including approval by iRobot’s shareholders and regulatory approvals, the announcement said. iRobot is a consumer robot company that designs and builds robots and intelligent home innovations. It introduced the first Roomba robot vacuum in 2002. “We know that saving time matters, and chores take precious time that can be better spent doing something that customers love,” said Dave Limp, SVP of Amazon Devices. “Over many years, the iRobot…

United States Secretary of State Antony Blinken assured Philippine President Ferdinand Marcos Jr that the US remains committed to the two countries’ defense pact, which sees the US and the Philippines commit to defend one another in case of an attack. “We’re committed to the Mutual Defense Treaty (MDT). We’re committed to working with you on shared challenges, Blinken said during a meeting with the Philippine president on Saturday, August 6. During their meeting in Malacañang, the state secretary thanked Marcos for discussing important matters on US and Philippines relations with him, as well as the “quite extraordinary” ties between…

Did you know that roughly 58% of the American workforce invests in the stock market? People no longer rely solely on their jobs to make a living or save for retirement. Let’s face it: Your job can only get you so far. It’d help if you also had other earning avenues like investments. But, investing isn’t as straightforward as the many YouTube tutorials depict it to be. A single wrong move can have you struggling for years if you’re not careful. Lucky for you, we have compiled some investment tips to guide you as you start investing. Curious about what they…

AnyMind Group, a Singapore-founded, Japan-based end-to-end commerce enablement company, has announced that it has raised ¥4 billion (approximately $29.4 million) in its Series D funding round, with total funding to date approximating $91.7 million. In addition, the company has also secured ¥1 billion credit facility from Mizuho Bank for future use. AnyMind Group’s Series C stock was issued for the acquisition of cross-border marketing company ENGAWA in January 2021. The Series D funds were raised from new investors including JIC Venture Growth Investments (JIC Venture Growth Fund I Investment Limited Partnership), Japan Post Investment Corporation (Japan Post Investment I, ILP),…

Pintarnya, one-stop digital platform for blue collar workers to find employment opportunities in Indonesia, today announced it has raised $8 million from East Ventures and Vertex Ventures SEA & India (VVSEAI), bringing the total seed funding to $14.3 million, one of the largest seed funding rounds in Southeast Asia to-date. Launched in May 2022, the company was founded by three senior executives Nelly Nurmalasari, Henry Hendrawan and Ghirish Pokardas. Pintarnya helps Indonesia’s rising working class get employed, become more employable and access better financial services. Since its launch, Pintarnya has connected more than 6,000 employers with more than 100,000 job…