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  • San Miguel

    Recurring earnings jump at Philippine conglomerate

    MANILA -- San Miguel, the Philippines' largest conglomerate by sales, on Friday said its net profit fell 45% last year but recurring earnings surged more than threefold. San Miguel's net income stood at 28.1 billion pesos ($627 million), down fr

    March 28, 2015 07:30 pm JST
  • Asian central banks

    Taiwan, Philippines hold key rates unchanged

    TAIPEI/MANILA -- The central banks of Taiwan and the Philippes held their benchmark interest rates steady on Thursday, resisting moves to follow other countries which have sought to ease monetary policy since the beginning of the year. Taiwan ce

    March 26, 2015 11:17 pm JST
  • South China Sea dispute

    U.S. lawmakers back the Philippines

    MANILA -- As China's reclamation activities in the South China Sea garner increasing international attention, the Philippines on Thursday claimed that "no country in the world" supports Beijing's expansionism. U.S. lawmakers, including influenti

    March 26, 2015 09:45 pm JST
  • Frederic Neumann: Infrastructure needed in emerging Asia

    Governments are understandably reluctant to splurge. Europe provides a powerful reminder that burgeoning public debt can lead to severe financial headaches over time. But being overly cautious on spending creates problems too. This is particular

    March 26, 2015 12:00 am JST
  • Joint venture enters highly competitive snack market

    MANILA -- The fast-growing economy in the Philippines has not only created blue-chip stocks, but apparently, also chips of a similar hue of the snack variety. In February, a joint venture between Japan's Calbee and local Universal Robina rolled

    March 26, 2015 12:00 am JST
  • ASEAN accelerates regional banking integration

    KUALA LUMPUR -- Southeast Asian banks will be able to operate more freely across the region due to a landmark agreement on banking integration. The move will pave the way for greater access to loan facilities across ASEAN's 10 member states and prom

    March 26, 2015 12:00 am JST
  • Jollibee Foods

    Philippine burger chain sets sights on Europe, Japan

    MANILA -- Philippine fast-food giant Jollibee Foods is considering Japan or Europe for the next leg of its global expansion. Speaking at the Euromoney Philippines Investment Forum on Tuesday, Chief Financial Officer Ysmael Baysa said stores in t

    March 25, 2015 02:00 pm JST
  • Building a safer future

    18 Asian cities embrace disaster-resilience standard

    Forty-seven cities -- 18 in Asia -- have agreed to implement a new international standard aimed at promoting sustainable development. Called ISO 37120, the standard provides definitions, methodologies and indicators for steering and measuring the qu

    March 25, 2015 01:00 pm JST
  • Asian Development Bank

    Growth of 6.3% in Asia for two more years

    MANILA -- The Asian Development Bank (ADB) predicted on Tuesday that Asia will sustain last year's 6.3% growth rate for another two years, with the slowdown in China -- the region's biggest economy -- expected to be offset by lower oil prices and im

    March 24, 2015 10:30 am JST
  • Bloomberry Resorts, Travellers International

    Philippine casinos buck regional downtrend

    MANILA -- Two major gaming companies saw their earnings in the Philippines surge last year, indicating that the country has remained largely insulated from the effects of China's crackdown on gambling, which has depressed gaming revenues in the regi

    March 23, 2015 08:15 pm JST
  • Consumer survey

    Southeast Asian consumers optimistic about economy

    TOKYO -- Consumers in Southeast Asian countries are more optimistic about the current economic situation than their counterparts in other parts of the world, a survey shows. U.S. research company Nielsen surveyed more than 30,000 consumers in 60

    March 23, 2015 07:00 pm JST
  • Philippine stocks

    Foreign investors bullish on solid economic growth

    MANILA -- Foreign investors are pouring money into Philippine stocks on expectations that the fastest-growing economy in Southeast Asia will maintain its strength on lower crude oil prices and stable inflation. Investors turned bullish on Philip

    March 23, 2015 03:00 pm JST
  • Aladdin D. Rillo and Ganeshan Wignaraja

    ASEAN reform is a matter of survival

    At their upcoming summits in April and November, leaders of the Association of Southeast Asian Nations know they must create a new road map to realize an ASEAN Economic Community that extends beyond 2015. Over the last decade, important progress has

    March 22, 2015 01:00 pm JST
  • Big ASEAN accord

    Finance ministers agree on regional banking integration

    KUALA LUMPUR -- Finance ministers of the Association of Southeast Asian Nations have signed a landmark agreement to allow member countries' banks to operate in each other's markets. The move will pave the way for greater access to loan facilities ac

    March 22, 2015 02:30 am JST
  • Infrastructure development

    Chiyoda, Mitsubishi Corp. to build new Philippine airport

    MANILA -- Engineering giant Chiyoda and Mitsubishi Corp. have signed a contract to build a new airport in the Philippines, as the country strives to bolster weak infrastructure links with the help of Japanese corporations. Construction will begi

    March 20, 2015 01:17 am JST
  • $200 billion by 2022

    India, ASEAN need to reduce barriers if trade goal is to be reached

    NEW DELHI -- India wants greater engagement with Southeast Asia's 10-member economic bloc and is calling for "a special effort" to take annual India-ASEAN trade to $200 billion by 2022. Considering the current figure is pegged at around $80 bill

    March 19, 2015 08:40 pm JST
  • Bruce Stokes: Asian youth feel happy and helpless

    The future belongs to the young. This is especially evident in parts of Asia. How young Asians see the world, their own futures and those of their countries often differs from the attitudes of their elders. Their differing views may go a long way to

    March 19, 2015 12:00 am JST
  • China needs to 'purchase' friendships, scholar says

    BEIJING -- China's foreign policy scholars generally fall into two camps: "realists" and "liberals." The former tend to prioritize national interests and power. The latter are more ideological. And under the government of President Xi Jinping, the r

    March 19, 2015 12:00 am JST
  • Bloomberry Resorts

    Philippine gaming company buys South Korean island

    MANILA -- Bloomberry Resorts, which operates a two-year-old casino in the Philippines, has struck two more deals for its South Korean expansion: the purchase of an island and the takeover of a casino. In two separate disclosures to the Philippin

    March 17, 2015 09:00 pm JST
  • Emperador expansion

    Philippine brandy maker ready for world

    MANILA -- Emperador of the Philippines, the country's largest brandy maker, is expanding overseas by investing the money it earns at home. The company plans to start selling its brandies in several countries in Europe and Africa, as well as at d

    March 17, 2015 07:00 pm JST