Category: Business

Business

From Davao Farms to Saudi Arabia: Two More Filipino Crops Are Now Heading Overseas—And This Could Be Just the Beginning

DAVAO CITY, Philippines — The Saudi Arabian market is opening its doors wider to Philippine-grown produce, with chayote and sweet potato now joining bananas and singkamas in a growing stream of agricultural exports from the Davao Region to Jeddah. The latest shipment, sent off from Sto. Tomas, Davao del Norte on August 26, signals more than just another overseas delivery. For local farmers and agribusinesses, it could be an encouraging sign that international buyers are beginning to look beyond

August 28, 2026

Business

Asian Stocks Rise as Investors Await Warsh’s Jackson Hole Signal — One Phrase Could Shake Global Markets

HONG KONG — Asian stocks moved mostly higher Friday as investors took some profit from a powerful technology rally and shifted their attention to Federal Reserve Chair Kevin Warsh, whose first major Jackson Hole speech could provide crucial clues about the future path of U.S. interest rates. The mood across global markets was cautiously optimistic rather than outright bullish. Investors were still digesting Nvidia’s latest blockbuster results, but the focus was rapidly moving back to inflation,

August 28, 2026

Business

Fuel Price Relief May Be Coming Next Week—But Why Is Diesel Set for a Much Bigger Cut?

MANILA, Philippines — After weeks of rising fuel costs, Filipino motorists may finally get some relief at the pump next week, with diesel prices projected to fall by as much as ₱4 per liter. Based on early estimates from oil industry sources tracking the Mean of Platts Singapore (MOPS) and foreign exchange movements, diesel prices could be reduced by ₱3.50 to ₱4.00 per liter, while gasoline may see a smaller rollback of around ₱0.25 to ₱0.75 per liter. However, motorists should note that these

August 28, 2026

Business

Stripe and Advent Walk Away From $53 Billion PayPal Deal — But the Real Shock May Be What Happens Next

The blockbuster attempt to acquire PayPal has reportedly collapsed. A consortium involving payments giant Stripe and private-equity firm Advent International has decided to abandon its pursuit of PayPal, Bloomberg News reported, citing people familiar with the matter. Reuters subsequently reported the development but cautioned that it could not independently verify Bloomberg's report at the time. Axios later reported that Stripe and Advent had ended their $53 billion pursuit, adding another la

August 28, 2026

Business

PNB Holdings Profit Jumps 85% as P56-B Property Giant Nears PSE Debut

MANILA, Philippines — PNB Holdings Corp., the real estate arm of Lucio Tan-led LT Group, is heading toward its Philippine Stock Exchange debut with a much stronger balance sheet and a sharp jump in first-half earnings. The company reported ₱209.9 million in net income for the first six months of 2026, an 85.3% increase from the same period a year earlier, as stronger property revenues and tighter operating discipline boosted profitability. Revenue also climbed 26% to ₱634.3 million, up from ₱5

August 27, 2026

Business

Ayala Land Reloads Housing Pipeline as Inventory Falls to Pre-Pandemic Levels

MANILA, Philippines — After months of tightening its launch strategy and working through unsold units, Ayala Land Inc. (ALI) is beginning to rebuild its residential pipeline—signaling a cautious but potentially important shift in one of the Philippines’ largest property developers. The company plans to introduce new horizontal residential developments in Nuvali, Laguna; Lipa, Batangas; and Crescendo, Tarlac, after bringing its residential inventory down to 15 months of supply from 18 months at

August 27, 2026

Business

Smashburger Is Winning Again: Sales Surge as Jollibee Group Brand Rebuilds Momentum

The fast-casual burger chain recorded 7.0% same-store sales growth in the second quarter of 2026, marking another sign that its ongoing turnaround strategy is beginning to gain traction. The improvement comes as the brand works to strengthen restaurant operations, digital ordering, value offerings and the overall customer experience. The latest performance is particularly notable because Smashburger has been undergoing a major reset after several years of weaker performance. Its parent company,

August 27, 2026

Business

NAIA Modernization Delivers P78 Billion to Government—But the Biggest Test Is Still Ahead

MANILA, Philippines — The private operator of Ninoy Aquino International Airport (NAIA) says it has remitted ₱78 billion to the Philippine government while pouring billions more into upgrading the country’s busiest aviation gateway—offering one of the clearest snapshots yet of the financial stakes behind the airport’s high-profile modernization. New NAIA Infra Corp. (NNIC), the San Miguel-led consortium operating NAIA under a public-private partnership (PPP), said the ₱78 billion had been remit

August 27, 2026

Business

Huawei Eyes Bigger AI Push Into Pharma as Race to Reinvent Drug Discovery Heats Up

Huawei is preparing to deepen its push into artificial intelligence-powered pharmaceuticals, with the Chinese technology giant eyeing more partnerships that could stretch from drug discovery and manufacturing to clinical applications. The move signals Huawei's growing ambition to become a major technology player in the fast-moving AI drug discovery industry — a sector attracting billions in investment as pharmaceutical companies search for ways to develop medicines faster, more efficiently and

August 27, 2026

Business

Lidl Owner’s €5.6 Billion AI Bet: Why Germany’s Next Data Centre Could Be Much Bigger Than It Looks

The company behind Lidl and Kaufland is making a multibillion-euro bet on artificial intelligence, cloud computing and Europe’s digital independence — and its ambitions could eventually grow far beyond the project announced today. Germany's Schwarz Group, best known as the retail powerhouse behind discount supermarket giant Lidl and Kaufland, is stepping deeper into the technology race with plans to invest up to €5.6 billion (about US$6 billion) in a major data centre in northern Germany by 203

August 27, 2026