PH, EU reach 'substantial agreement' on free trade deal

MANILA, Philippines — Booming aviation and logistics investments drove a sixfold surge in approved investments under the Bases Conversion and Development Authority (BCDA), the state-run corporation in charge of transforming former military bases into economic centers. In a statement on Monday, the BCDA said it had approved P49.96-billion investments during the January-to-June period, marking a 535

MANILA, Philippines — Mitsubishi Corp. is investing about P44.5 billion to substantially increase its stake in Ayala Corp., deepening a partnership that has spanned more than five decades. On Monday, the Philippines’ oldest conglomerate said it had signed a definitive agreement with the Japanese giant. It covers a combination of primary and secondary shares, including a

MANILA, Philippines — ACEN Corp., the listed energy arm of the Ayala Group, has moved to abandon two service contracts involving solar power projects in Quezon province and Zambales amid land issues. In a regulatory filing on Monday, the renewable energy producer said its subsidiaries have surrendered Solar Energy Operating Contracts No. 2024-08-938 and No. 2021-05-582.

Purpose-built student accommodation is drawing mainland Chinese university students away from Hong Kong’s traditional rental market, as professionally managed residences gain favour despite charging higher rents than many private flats. Some students said dedicated student housing offered greater convenience, stronger security, more predictable costs and a better living environment, helping offset higher rents and, in some cases, longer commutes. Qi Zhonghao, a mainland Chinese student pursuing...

In China’s hardware hub in Shenzhen, the speculative frenzy around consumer multilayer ceramic capacitors (MLCCs) has cooled into a sharp price correction, but prices for artificial intelligence server components remain elevated. Spot prices for consumer-grade MLCCs, often dubbed the “the rice of the electronics industry”, have fallen by two-thirds from their peak two months ago, according to Wang Jun, an MLCC distributor in Huaqiangbei, a commercial zone in the city known for electronic...

Chinese consumers are demanding more variety from the drinks sections in their local stores, and Swire Coca-Cola is employing robots to help quench this increasingly diversified thirst. The company began using a robotic system for order picking this month in a factory in Zhengzhou, capital of central China’s Henan province, where it has invested 900 million yuan (US$134.3 million). “China is a growth market, and consumer habits are changing,” said Peter Mills, chief supply chain officer of Swire...

Thailand is considering cutting taxes on oil products as the government looks for additional ways to contain the impact of elevated global energy prices on households and businesses.

Maybank forecasts Vietnam's GDP growth at 7.8% in 2026 and 7.9% in 2027, calling it ASEAN's fastest-growing economy, driven by electronics exports, foreign investment, infrastructure spending, and market reforms, maintaining a VN-Index target of 2,000.

MANILA, Philippines — The government should protect middle-class purchasing power through targeted aid to prevent weaker household consumption from further dragging on economic growth, the Asian Development Bank Institute (ADBI) said. Speaking to reporters, ADBI dean and CEO Bambang Brodjonegoro said the government should target the middle class because it accounts for most household consumption. READ:

GENEVA, Switzerland — The Association of Southeast Asian Nations (ASEAN) should explore alternative mechanisms to ensure regional food security amid potential disruptions arising from geopolitical events, according to the International Trade Center (ITC). ITC Executive Director Pamela Coke-Hamilton said ASEAN has the collective power to withstand future global supply shocks, depending on how much it is

GENEVA, Switzerland — The Philippine government and a World Trade Organization (WTO)-backed global initiative are developing a cooperation framework to channel private-sector investments into least developed countries (LDCs). In August, the Philippine Mission to the WTO met with the Enhanced Integrated Framework (EIF) Secretariat to explore practical awareness-raising activities in Geneva and across the ASEAN

MANILA, Philippines — The Philippines will push some of the world’s biggest technology companies to locate within the planned Pax Silica hub in New Clark City, where development work could begin as early as 2027. Among those on the government’s “wishlist” are Apple, Nvidia, Taiwan Semiconductor Manufacturing Co., MediaTek, United Microelectronics Corp., Qualcomm, AMD and Broadcom