The Department of Transportation (DOTr) on Friday said that motorcycle taxi drivers who don’t belong to three platforms in the trial run will be apprehended. This, as the DOTr said in a statement that Angkas, JoyRide, and MoveIt were the only participants in the motor taxi pilot that will run until March 2020. Also, the … Read more
Billionaire Enrique Razon offered to buy the rest of Manila Water’s shares, seeking to consolidate his control, according to a stock exchange filing on Friday. This, as the government renegotiated its contract in order to supply water to the capital’s east zone. In a disclosure, Manila Water said that billionaire Enrique Razon’s Prime Metroline Holdings … Read more
ING Bank analyst on Friday said that a 2019 novel coronavirus posed a drag on the global economy, giving central banks — including the Philippines — room to cut interest rates. This, as the world commodity prices will remain “depressed” because of weak demand from China, according to ING Bank analyst Nicholas Antonio Mapa. He … Read more
Automotive manufacturers might be forced to suspend their production if Chinese auto parts suppliers cannot get back to work amid coronavirus crisis. This, as the threat from the 2019 novel coronavirus crisis closed in on the global auto industry. Fiat Chrysler Automobiles NV warned that a European plant might shut down within 2-4 weeks if … Read more
Russia rejected proposals to cut oil output at an OPEC+ (Organization of the Petroleum Exporting Countries and non-member Russia) meeting, as reported by media. This, as the delegates of the Organization of the Petroleum Exporting Countries and non-member Russia — known as OPEC+ — have been in Vienna for a “joint technical committee” meeting in … Read more
Jollibee Foods Corp on Tuesday said that the company remained “very committed” to expand its stores in China, as it assessed the impact of 2019 novel coronavirus outbreak in China. Fourteen Jollibee stores in the province of Hubei, all under the brand Yonghe King, remain closed as the province was the epicenter of the 2019 … Read more
The World Bank called for countries to “strengthen their health surveillance and response systems” in order to fight the 2019 novel coronavirus outbreak. In a statement, the institution said that the World Bank Group was considering mobilizing its financial and technical resources “quickly to support affected countries” as well as the institution was “closely coordinating … Read more
Ayala Corp on Monday said that billionaire Enrique Razon bought 25% of Manila Water, bringing PHP 10.7 billion in fresh funding to the utility that has come under government inquiry. Ayala Corp said that it would retain a 38.6% stake in Manila Water, which supplies water to the Philippine capital’s east zone. Prime Metroline Holdings, … Read more
The members of the Organization of the Petroleum Exporting Countries (OPEC) and Russia will organize a technical meeting this week to analyze oil price falls following the outbreak of a coronavirus epidemic, according to a source close to the cartel on Sunday. The source told AFP that the OPEC will assemble experts in a “joint … Read more
Global equity markets on Friday, January 31, posted their biggest weekly and monthly loss on shares from August 2019 to January 2020. This, as growing concerns about the economic impact of the 2019 novel coronavirus outbreak in China sapped risk appetite and raised the safe-haven Japanese yen and Swiss franc. Yields on US debt fell … Read more