UBS leaving home would be more expensive, Swiss minister says

The Business Times - Sep 27, 2026

This is amid a plan that would force Switzerland’s largest lender to hold more equity capital

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Department of Agriculture opposes sale of contraband rice

Oct 17, 2026

Department of Agriculture opposes sale of contraband rice

MANILA, Philippines — The Department of Agriculture (DA) has opposed selling off the rice cargo from Vietnam that was confiscated, to prevent those responsible for its entry into the Philippines from profiting. “I am not in favor of auctioning this,” Agriculture Secretary Francisco Tiu Laurel Jr. said in a recent radio interview. READ: Senate to conduct

Foreign banks trim China branch networks as low returns test strategy

Oct 17, 2026

Foreign banks trim China branch networks as low returns test strategy

Almost two decades after gaining permission to conduct yuan business for local clients, foreign-funded banks are still refining their strategy in China, where the financial sector is dominated by state-owned lenders. While Citi exited its China retail banking business, other foreign banks have continued to close branches and sub-branches, focusing instead on digitalisation, wealth management and core clients to strengthen their foothold in the market. Deutsche Bank (China) announced the closure...

PH pitches LEC projects to Italian firms

Oct 17, 2026

PH pitches LEC projects to Italian firms

MANILA, Philippines — The Philippine government has pitched potential projects under the Luzon Economic Corridor (LEC) to Italian companies interested in investing in infrastructure, technology, and other strategic sectors. This is according to the Department of Finance (DOF), which said it presented potential projects where 10 Italian companies could contribute through financing, technical assistance, technology

BIR: Senior citizen discount burden to be shared among drugstores, pharmas, supermarkets

Oct 17, 2026

BIR: Senior citizen discount burden to be shared among drugstores, pharmas, supermarkets

The Bureau of Internal Revenue has released new rules to make it fairer for drugstores, supermarkets, and pharmaceutical companies when they give discounts to senior citizens.

Value-Up Arrives in ASEAN: Six Markets Competing to Narrow the Gap

Oct 16, 2026

Value-Up Arrives in ASEAN: Six Markets Competing to Narrow the Gap

ASEAN is adapting Japan and Korea’s corporate value-up models to improve governance, disclosure, and investor participation. Countries like Singapore, Malaysia, Thailand, Indonesia, Philippines, and Vietnam are implementing various value-up programs. The goals are similar: better shareholder returns, governance, and investability. Companies can enhance visibility and access to capital by improving capital allocation, shareholder returns, and […]

Concreat reuses 50M liters of water yearly amid El Niño threat

Oct 16, 2026

Concreat reuses 50M liters of water yearly amid El Niño threat

MANILA, Philippines — Consunji-led Concreat Holdings Philippines (CHP) said its two cement plants recover and reuse about 50 million liters of water annually, reducing their freshwater needs amid risks from prolonged dry spells and El Niño. The DMCI Holdings Inc. subsidiary uses water recycling and recovery systems at APO Cement in Naga, Cebu, and Solid

PAL sets week-long seat sale for business, premium economy

Oct 16, 2026

PAL sets week-long seat sale for business, premium economy

MANILA, Philippines — Flag carrier Philippine Airlines (PAL) will offer discounts on select business class and premium economy seats for the first time, ahead of the peak holiday travel season. PAL’s week-long sale, running from Oct. 19 to 25, will offer discounts of up to 60 percent for business class and premium economy seats on select

PSEi climbs 2.11% on bargain hunting, lower oil prices

Oct 16, 2026

PSEi climbs 2.11% on bargain hunting, lower oil prices

MANILA, Philippines — Local stocks rallied on Friday as investors hunted for bargains, with lower global bond yields and oil prices supporting sentiment. The benchmark Philippine Stock Exchange Index (PSEi) gained 119.53 points, or 2.11 percent, to close at 5,782.70. READ: Gasoline rollback, slight diesel hike seen next week Philstocks Financial Inc. said the decline in

Gokongwei, Salazar win 2026 MAP Management Person of the Year

Oct 16, 2026

Gokongwei, Salazar win 2026 MAP Management Person of the Year

MANILA, Philippines — Tycoons Lance Gokongwei and Chito Salazar will share the coveted “Management Person of the Year” honor for 2026, awarded by the country’s influential group of business executives, the Management Association of the Philippines (MAP). Gokongwei, president and CEO of JG Summit Holdings Inc., earned accolades for transforming the Gokongwei Group into a professionally

Tesla unveils new Roadster that flips in air with SpaceX thrusters

Oct 16, 2026

Tesla unveils new Roadster that flips in air with SpaceX thrusters

SAN FRANCISCO--Tesla unveiled a redesigned Roadster powered with rocket-style thrusters on Thursday and said it would start production in 2028, more than a decade after it first showed a next-generation version of its electric sports car.

Peso tumbles beyond 63:$1

Oct 16, 2026

Peso tumbles beyond 63:$1

MANILA, Philippines — The Philippine peso weakened further on Friday, hitting another record low against the dollar as expectations of higher US interest rates bolstered the greenback. The local currency opened at 63.03 per dollar before sliding to an intraday low of 63.23 during the morning trade, according to data from the Bankers Association of the

HKEX pushes back T+1 trade settlement to 2028 after brokers request more prep time

Oct 16, 2026

HKEX pushes back T+1 trade settlement to 2028 after brokers request more prep time

Hong Kong Exchanges and Clearing said it had delayed a plan to shorten the settlement time for share transactions to the second half of 2028, so it could address widespread industry requests for more preparation time. Confirming a report by the South China Morning Post on Wednesday, the exchange said in a statement on Friday that it would not proceed with the timeline it proposed in a consultation paper in April, aiming to implement a so-called T+1 system in the fourth quarter of 2027, replacing...

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