PH expands okra exports to South Korea

richbon-quevedo - @inquirerdotnet 05/13/2021

MANILA, Philippines – The Philippines will start exporting okra or lady’s fingers to South Korea, the Department of Agriculture (DA) said. “After the resumption of okra exports to Japan last year, we are opening yet another market…

DOLE-7 says manufacturing, construction, entertainment industries badly hit by pandemic

Futch Anthony Inso 04/30/2021

CEBU CITY, Philippines – The Department of Labor and Employment (DOLE)-7 has recorded 192 establishments that have permanently closed or have ceased their operations in 2020, due to the Coronavirus Disease 2019 (COVID-19) pandemic. “In 2020 actually,…

NSA-7: Central Visayas’ Gross Domestic Product declined in 2020

Mary Rose Sagarino 04/29/2021

LAPU-LAPU CITY, Philippines — The Gross Regional Domestic Product (GRDP) of Central Visayas in 2020 declined to negative 9.9 percent, lower than the 6.2 percent the region posted in 2019. Based on the report by the Philippine…

Uy’s Chelsea cut jobs, sent IOUs as losses bulged to P3.3B

Miguel R. Camus - Reporter / @miguelrcamusINQ 04/24/2021

MANILA, Philippines — The logistics group of Davao-based businessman Dennis A. Uy cut jobs, sought loan waivers and shed other assets apart from selling affiliate 2GO Group Inc. in a bid to stay afloat this COVID-19 pandemic. In…

To reduce power rates, VECO to renegotiate contracts with power suppliers 

Morexette Marie B. Erram 04/14/2021

CEBU CITY, Philippines – The Visayan Electric Co. (VECO) will be renegotiating several of its power contracts as part of its fulfillment to reduce power rates in Cebu. In a recent press release, VECO announced it is…

Visayas Community Medical Center to revamp operations, get new look

Morexette Marie B. Erram 03/21/2021

CEBU CITY, Philippines — A new Visayas Community Medical Center (VCMC) is set to be unveiled anytime soon. AppleOne Medical Group (AMG), the health and wellness arm of developer AppleOne Properties Inc. (API), is currently embarking on…

Davao’s Dennis Uy exits 2GO, sells to SM Group

Miguel R. Camus - Reporter / @miguelrcamusINQ 03/19/2021

MANILA, Philippines — The Sy family’s conglomerate SM Investments Corp. is taking over 2Go Group Inc., strengthening its footprint in logistics during a period of upheaval for the industry. SM is taking a controlling stake in 2Go…

MCIA logs all-time low in air, passenger traffic in 2020

Morexette Marie B. Erram 03/08/2021

CEBU CITY, Philippines – The Mactan Cebu International Airport (MCIA), the country’s second-busiest gateway, recorded an all-time low in its air and passenger traffic in 2020 when the coronavirus disease 2019 (COVID-19) pandemic struck. Data from Mactan Cebu…

Food maker Monde eyes P72.45B IPO, biggest debut in PH stock market

Doris Dumlao-Abadilla - Reporter / @philbizwatcher 03/04/2021

MANILA, Philippines—Food manufacturer Monde Nissin Corp. is seeking regulatory approval to sell as much as P72.45 billion worth of shares through an initial public offering, potentially the largest stock market debut in the country. Monde Nissin plans…

NEDA-7: Consumer demand needs to rise to improve economy

Delta Dyrecka Letigio 02/26/2021

CEBU CITY, Philippines — The National Economic and Development Authority in Central Visayas (NEDA-7) said that in order to boost economic revival the consumer demand would need to rise. In their report to the Regional Development Council…

Cebu business sector willing to police self to help reduce COVID cases

Delta Dyrecka Letigio 02/25/2021

CEBU CITY, Philippines — The Cebu business sector is willing to police themselves in order to help reduce the Coronavirus Disease 2019 (COVID-19) cases in the city. This they promised during the Cebu Citizens’ Initiative forum on…

Castrol Phils Inc. seals distributorship deal with North Trend Marketing Corp

02/18/2021

MANILA, Philippines — Castrol Philippines Inc. has sealed a strong partnership with North Trend Marketing Corporation (NTM), appointing the country’s leading name in lubricants distributorship as its authorized provider of commercial and industrial lubes in the Philippines.…

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