China and ASEAN trade deal speeds up business exchanges

Tesla officials and engineers have begun auditing part of the firm’s Chinese supply chain, as Elon Musk’s company aims to quickly ramp up production of its Optimus humanoid robot after it hits the global market later this year, according to sources with knowledge of the matter. Chinese companies set to undergo supplier audits included heat-control component manufacturer Zhejiang Sanhua Intelligent Controls, auto parts supplier Ningbo Joyson Electronic, and chassis producer Tuopu Group, two...

MANILA, Philippines — GCash operator Mynt Inc. has received approval from the Philippine Stock Exchange (PSE) for its initial public offering (IPO), moving closer to one of the largest listings in the country. On Friday, Ayala Corp. and Globe Telecom Inc. said in separate statements that Mynt received the PSE’s Notice of Approval on Sept.

A group of businesses and entrepreneurs in General Santos City is backing the proposed joint venture between South Cotabato II Electric Cooperative (SOCOTECO II) and Razon-Pacquaio-led IGNITE Power and Energy Holdings Inc.

MANILA, Philippines — Motorists need to tighten their belts as local oil firms plan to impose massive oil price hikes of up to P10.50 per liter next week, driven by worsening geopolitical conflicts. In an advisory, Jetti Petroleum president Leo Bellas said diesel prices could hit another double-digit increase, ranging from P10 to P10.50 per

Nearly one-fifth of surveyed companies in the Asia-Pacific region believe wider adoption of artificial intelligence will reduce their real estate needs, a new study by CBRE has found. More than half – 56 per cent – held a neutral view, believing either that AI had no impact on office space demand or that it was too early to determine its effect, according to the property consultancy’s poll of corporate real estate executives in the region. The remaining 25 per cent said AI adoption would require...

Cebu-based passenger and cargo services company Aznar Shipping Corp. is planning to conduct an initial public offering (IPO) to raise funds to bankroll its fleet expansion and proposed shipyard project.

The Philippine peso softened against the US dollar after three straight trading days of appreciation, as the greenback was buoyed by the Federal Reserve"s decision to hike rates. The local currency shed 1.9 centavos to close Friday at P62.749:$1 from Thursday"s finish of P62.73:$1.

Philippine shares closed in the red on Friday, with the local stock barometer sliding to 5,800 level, as investors sold positions after a rebalancing of the Financial Times Stock Exchange (FTSE) and the continued sour sentiment amid the ongoing Middle East fuel crisis.

China has set its sights on becoming a global biomedicine powerhouse by 2030, targeting key technological breakthroughs and at least a quarter of the world’s first-in-class drugs market under a new five-year plan for the sector. By the end of the decade, China would “firmly rank at the global forefront” in biopharmaceutical research and development and applications, with its “core competitiveness” and international influence making a significant leap, authorities said on Friday. The biomedical...

The US Federal Reserve raised its benchmark interest rate by a quarter of a percentage point this week, followed by the Hong Kong Monetary Authority and the Bank of Japan, while the 10-year US Treasury yield fell back below 5 per cent. Here are some of the figures that have drawn the most market attention this week. Fed raises interest rates for first time since 2023 The US Federal Open Market Committee voted unanimously on Thursday to raise rates by 25 basis points to a target range of 3.75 to...

Senior bankers at HSBC are facing a double blow of losing a key employment benefit while also confronting potential job losses as the lender carries out a range of measures to cut costs and achieve fair treatment for all staff, according to sources. HSBC, the biggest lender in Hong Kong, will scrap an education subsidy programme for all newly hired or newly promoted senior executives from Friday, according to an internal memo seen by the South China Morning Post. Employees who were already in...

The Government Service Insurance System (GSIS) on Friday announced an increase in its emergency loan assistance for members and pensioners affected by the recent typhoons and the enhanced Southwest Monsoon, or Habagat, to nearly P8 billion.