Business & Economy

BDO still PH’s biggest bank in ’15

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Henry Sy-Led BDO Unibank Inc. remained the country’s biggest bank in terms of assets, which rose to P1.94 trillion at end-2015, the latest Bangko Sentral ng Pilipinas (BSP) data showed.

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Economist sees close May 9 race

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Davao City Mayor Rodrigo “Digong” Duterte’s rise as the new front-runner in the presidential race indicates how day-to-day public service concerns have resonated more among voters than macro policy themes, an economist from American banking giant Citigroup said.

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Quezon farms get boost from new irrigation facility

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The National Irrigation Administration has inaugurated a P242-million irrigation facility in Tiaong, Quezon, amid efforts to shore up rice production in that town and in neighboring areas.

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City of New York Reaches All-Time High Job Totals

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NEW YORK -- The City of New York announced April 15 that based on an analysis of seasonally adjusted job numbers for March 2016 provided by the New York State Department of Labor, New York City added 2,800 jobs in February, reaching an all-time high total of just below 4.3 million jobs across all five boroughs.

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US firm Concentrix sets up Cebu BPO unit

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US-BASED business process outsourcing (BPO) firm Concentrix is gaining a foothold in Cebu with the opening of a new BPO hub at Megaworld Corp.’s beachfront estate The Mactan Newtown in Lapu-Lapu City by second half of this year.

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IT-BPO industry grows as second largest source of income for PH

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The Information Technology and Business Process Management (IT-BPM) industry has grown to be the second largest source of dollar income for the Philippine economy, according to the Information Technology and Business Process Association of the Philippines (IBPAP). In 2015, the industry generated 1.2 million direct jobs and US$ 22 billion in revenues.

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PH satellite Diwata-1 now in orbit

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MANILA -- The long wait is over as the Diwata-1 is finally sent out to space to begin her 20-month-long journey.

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Disruptions from twin quakes in southern Japan hit economy

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TOKYO -- The twin earthquakes that have paralyzed parts of southern Japan are having ripple effects far beyond the disaster zone, with automakers and other manufacturers suspending output in other areas due to disruptions in its parts supplies.

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Ford recalls 202K pickups, SUVs, cars to fix transmissions

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DETROIT -- Ford is recalling nearly 202,000 pickup trucks, SUVs and cars in North America because the automatic transmissions can suddenly downshift to first gear.

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California HR firm to pay $1M in back wages to 267 workers

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SAN FRANCISCO -- A San Leandro, California-based human resources outsource provider will pay $1 million in back overtime wages and damages to hundreds of employees after a U.S. Department of Labor investigation that found widespread Fair Labor Standards Act violations.

Read more: California HR firm to pay $1M in back wages to 267 workers

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