Tag: bworldonline
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JFC expects payback on Compose Coffee investment in 5-6 years
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JOLLIBEE Foods Corp. (JFC) expects achieving payback on its acquisition of South Korea’s Compose Coffee within five to six years, a company official said. “Even if we take a very modest growth rate, just based on new franchisees, roughly 30 to 40 new franchisees per month are opening stores. If…
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Globe Telecom’s tower sales reach P85.2 billion
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AYALA-LED Globe Telecom, Inc. said it has generated P85.2 billion from its tower sales after fully transferring some of its tower assets to Frontier Tower Associates Philippines, Inc. (Frontier Towers). “These tower assets are composed of 84% ground-based towers and 16% rooftop towers,” Globe said in a stock exchange disclosure…
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Pangilinan: Ayala’s LRT-1 stake talks hit ‘valuation gap’
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METRO Pacific Investments Corp. (MPIC) may reconsider acquiring Ayala Corp.’s stake in Light Rail Transit Line 1 (LRT-1) due to unresolved valuation issues, according to its chairman. “We talked to them before, but there’s a bit of a gap in valuation, and I do not know how we can bridge…
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NG budget deficit narrows in June
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THE NATIONAL Government’s (NG) budget deficit narrowed by 7.24% year on year in June, as revenue collection grew at a faster clip than spending, the Bureau of the Treasury (BTr) said on Wednesday. Treasury data showed the budget gap shrank to P209.1 billion in June from P225.4 billion a year…
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SteelAsia investing P82B in 5 new steel plants to boost output
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STEELASIA Manufacturing Corp. said it plans to invest P82 billion in constructing five new steel plants in the country to increase its annual output by 2.2 million metric tons. The company aims to help address the Philippines’ reliance on imported steel by boosting local production, SteelAsia said in a statement…
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DoLE to find jobs for 20,000 displaced POGO workers
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THE DEPARTMENT of Labor and Employment (DoLE) anticipates over 20,000 Filipino workers will lose their jobs with the closure of Philippine offshore gaming operators (POGOs) by the end of the year.
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BSP says on track with study and testing of its own digital currency
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THE STUDY and testing of a central bank digital currency (CBDC) is on track, with implementation eyed by 2029, a Bangko Sentral ng Pilipinas (BSP) official said.
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DoE seeks PSALM extension to prevent P300-B liability for gov’t
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THE DEPARTMENT of Energy (DoE) said the corporate life of Power Sector Assets and Liabilities Management Corp. (PSALM) should be extended to prevent the government from assuming P300 billion in liabilities. Energy Secretary Raphael P.M. Lotilla said that the government initially expected it would take 25 years to complete the…
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Sneaking vegetables into children’s food
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SINCE the launch of Mega Bigay Sustansya in 2019, Mega Prime Foods, Inc. (the company behind Mega Sardines and Tuna, among others) has fed more than 1,700 schoolchildren more than 370,000 meals.