Globe Telecom Inc. has raised from the sale of equity securities abroad $600 million, which it would use to finance network upgrades and to pay off debts. Globe on Wednesday announced its return to the international capital markets after its dual-tranche US dollar-denominated senior notes issuance in 2020. The $600-million fundraising involves five-year dollar-denominated senior…
Filipino entrepreneurs who have adopted electronic payment systems are now even more productive, efficient and competitive, thanks to the new quick response (QR) code system that makes person-to-merchant transactions easier. In a statement, the Bangko Sentral ng Pilipinas (BSP) further urged consumers, payment service providers and merchants, including micro, small and medium enterprises, to avail…
The Cantilan Bank (CanBank) is expanding its digital footprint through the launch of its app iCAN targeting unbanked Filipinos. CanBank, established in 1980 in Surigao del Sur, said in a statement iCAN would introduce features such as fund transfer, bills payment, prepaid phone reloading and QR code payment to its customers in over 100 communities.…
Over a year into the COVID-19 pandemic that sank Asia-Pacific (Apac) into a recession, many economies in the region have weathered what they hope is the worst of the storm. Although most economies are tipped to rebound to prepandemic levels this year —thanks to factors such as the rollout of vaccines, revival of global demand…
The state-run pension fund Social Security System (SSS) may finally push through with its planned offshore investments next year once it’s no longer pressured to disburse more benefits to members and pensioners badly hit by the COVID-19 pandemic. “Right now, we are trying to study the environment. Definitely, we’re looking at global bonds, global equities,…
While the coronavirus pandemic dragged down the domestic economy to its worst recession in history last year, hurting profitability of many companies, there was one company that defied gravity in the stock market. The main-share Philippine Stock Exchange index (PSEi) shed 8.64 percent last year, but the stock price of this company soared by 304…
The joint venture of Pacific Online Systems Corp. and Philippine Gaming Management Corp. (PGMC) bagged a much-coveted nationwide lottery equipment lease deal with the Philippine Charity Sweepstakes Office (PCSO) valued at P5.8 billion. Pacific Online disclosed to the Philippine Stock Exchange on Monday that its joint venture with PGMC has formally received the notice of…
DUMAGUETE CITY—Despite the gloom brought about by the prolonged COVID-19 pandemic, investors remained optimistic about Davao region’s path towards development. Local businessmen recently launched , which seeks to showcase the region’s innovations in learning, real estate, tourism, and agri-business, positioning it as an investment partner for industry leaders in and outside the country. During the…
Converge ICT Solutions Inc. sealed a P5-billion loan deal with state-owned Land Bank of the Philippines to fund its nationwide fiber internet rollout. Pampanga-based businessman and Converge CEO Dennis Anthony Uy said on Friday this would also allow the company to expand its presence in “unserved and underserved” areas in the Philippines. According to Converge,…
On the surface, coal power makes for a compelling business proposition. It is the cheapest fossil fuel in terms of energy content. It is relatively abundant, and relies on proven technology to generate electricity that is safe to operate and efficient. It is also reliable, with coal-fired plants having the ability to provide so-called baseload…