Shell Pilipinas staggers hikes; diesel surges over P8/liter

The Philippine peso depreciated against the US dollar for the second straight trading day on Monday, as the greenback was buoyed by hawkish statements of US Federal Reserve officials.

Cybercrime Investigation and Coordinating Center Executive Director Atty. Renato “Aboy” Paraiso has urged the public to be vigilant against scammers amid the planned maiden listing of fintech giant Mynt Inc., the parent company of GCash, on the local bourse

The Bases Conversion and Development Authority (BCDA) is expected to finalize the terms for the bidding of the remaining four hectares of the Market! Market! property by the first quarter of 2027, a top official said Monday.

Motorists will again have to pay more for petroleum products this week, as oil firms announced another round of price increases, marking the third consecutive week of major upward adjustments.

Investors in Asia are demanding clearer evidence that artificial intelligence can translate into revenue and earnings, rather than simply seeking exposure to the technology, as the sector moves into a more mature phase, according to Chris Oberoi, head of Asia-Pacific research at Bank of America (BofA) Global Research. “The issue increasingly is: does it add to productivity, and is it being monetised,” Oberoi said. “And the answer is, ‘absolutely yes’.” Separately, President Xi Jinping and US...

Philippine officials are expected to include a clause that explicitly preserves sovereignty over projects in the Pax Silica initiative in New Clark City, stating that expatriates employed in the area will have no diplomatic immunity.

The Hong Kong Monetary Authority, the city’s de facto central bank, probably anticipated the rise in US interest rates last week. However, it is unlikely it foresaw the extent to which the Federal Reserve shifted in a hawkish direction. Even Fed watchers were surprised by the unanimous vote to increase borrowing costs and the unambiguous signal that the central bank plans to raise interest rates further in the coming months. While the HKMA, which moves in lockstep with the Fed to safeguard the...

The success of GCash operator Mynt Inc."s Initial Public Offering will be defined by sustainable post-listing value creation and regional expansion, rather than its initial ₱10 maximum price ceiling, capital market expert Jonathan Ravelas said.

Contemporary Amperex Technology Limited’s (CATL) dominance in the Chinese electric vehicle (EV) market is unlikely to slump over the coming year given its brand recognition and edge in technology, analysts said, though its shares have already tumbled amid the battle with profit-squeezed EV makers. Chinese carmakers have been doubling down on efforts in recent weeks to reduce their reliance on CATL – in September, Xiaomi and Li Auto highlighted their partnership with tier-two battery...

Late last month, an open tender for Hotel Cozi Harbour View in Kwun Tong was announced, with interested parties given until October 15 to submit bids. The 598-room hotel, located in Hong Kong’s eastern Kowloon Peninsula, a former industrial area, was taken over by Nanyang Commercial Bank for HK$1.87 billion (US$238.4 million) in 2025, with the bank now looking to dispose of the asset to the highest bidder. Just a week after the announcement of the tender, Nina Hospitality, one of the largest...

Four Chinese companies launched initial public offerings (IPOs) in Hong Kong on Monday, aiming to raise as much as HK$14 billion (US$1.8 billion) in total, with strong backing from cornerstone investors countering apparent weakness in the market so far this month. Automated equipment manufacturer RoboTechnik has the biggest target, planning to raise as much as HK$5.18 billion. The new entrants are braving a market that shows signs of slowing. After a blistering year so far – Hong Kong listings...

Global institutional investors and wealth managers are stockpiling cash at the fastest pace on record while quietly retreating from US and UK equities as persistent inflation and mounting geopolitical risks dominate portfolio decisions, according to a report by Marsh Investments. The institutional investment consultancy polled 430 asset owners managing a combined US$5.76 trillion and found that 37.8 per cent planned to increase cash allocations over the next 12 months, up from just 9 per cent in...