MANILA – Global sports brand Decathlon sees the Philippines as an emerging market for sports wearable and equipment. France-based Decathlon has expanded its Philippine operations with the opening of its newest store in Cebu last March 1. This is the retail sports brand’s first store opening in the country this year. Decathlon’s 3,000-square meter sports retail zone in SM City Cebu is…
MANILA – The antitrust bodies of the Philippines and Australia have committed to strengthen their cooperation on advocacy and enforcement following the signing of a Memorandum of Understanding (MOU) in Canberra. In a statement Tuesday, the Philippine Competition Commission (PCC) said Chairperson Michael Aguinaldo signed an MOU with Australia Competition and Consumer Commission (ACCC) Chair Gina Cass-Gottlieb last…
Ayala Land, Inc. (ALI) has set PHP100 billion in capital expenditure (capex) target this year as its outlook in the property sector remains rosy, especially in the high-end market. In a recent press briefing, ALI chief finance officer Augusto Bengzon said 34% of this year’s capex would be spent on residential projects, 24% for estate development, 19% for land acquisition, 10% for malls, 8% for…
Finance Secretary Ralph Recto has urged member states of the Inter-governmental Group of Twenty-Four (G-24) to reclaim their lost momentum through heightened cooperation and scaled-up support from international financial institutions. In his opening remarks for the G-24 Technical Group Meeting, Recto, who is chair of the G-24 Board of Governors, urged G-24 members and international partners to…
TRADE TALKS. Segundo Sigmundfreud Barte Jr. Bureau of Customs (BOC) acting district collector in Legazpi, gives his message during the”Regional Stakeholders Meeting” at The Oriental Hotel on Wednesday (Feb. 21, 2024). Barte said they are optimistic about collecting PHP3 billion in revenues for 2024. (PNA photo by Connie Calipay) LEGAZPI CITY – The Bureau of Customs…
State-owned Land Bank of the Philippines (LandBank) said its loans to agriculture and rural development recorded double-digit growth in 2023. In a statement Monday, LandBank said outstanding loans to the entire agricultural value chain amounted to P755.1 billion as of end-December 2023, higher by 23% than the P614.8 billion recorded in the third quarter. The amount accounts for about…
MANILA – The Bank of the Philippine Islands (BPI) is pioneering the country’s consumer loan for “green” purchases. The bank launched on Monday the BPI Green Solutions providing solar mortgage, eco-build financing and electric vehicle (EV) financing. In line with the Marcos administration’s commitment to the Paris Agreement to pursue initiatives on clean energy and promote sustainability across…
MANILA – The Intellectual Property Office of the Philippines (IPOPHL) will be providing patent services to Brunei Darussalam IP Office (BruIPO), processing a maximum of 200 applications a year over the next five years. In a statement Monday, IPOPHL director general Rowel Barba said the BruIPO is outsourcing patent services following the memorandum of understanding (MOU) signed in…
The Bangko Sentral ng Pilipinas (BSP) hopes for the enactment of the proposed Anti-Financial Account Scamming Act or AFASA bill, which will allow it to examine financial accounts involved in prohibited acts. Elmore Capule, BSP senior assistant governor and general counsel of the office of the general counsel and legal services, said in a recent media information session Senator Mark Villar has expressed optimism…
SUBIC BAY FREEPORT – Businessman Eduardo Aliño officially has assumed post as Chairman and Administrator of the Subic Bay Metropolitan Authority (SBMA). In his first press conference as SBMA chief, Aliño noted the vast potential of Subic should be given priority for development. “We have so many potentials here in Subic and we may put up more hotels, more infra projects to attract more investors,” he said, adding his management…
