Business

MANILA – Speaker Alan Peter Cayetano on Monday said that it was the owners of the ABS-CBN are to blame for the network’s shutdown. According to his Facebook post, It wasn’t the government’s fault but rather the network’s owners he described as “oligarchs” and has avoided billions of funds that can supposedly benefit the country by skirting the law. Cayetano …

MANILA – The Philippine Stock Exchange (PSE) on Monday has suspended the ABS-CBN Corp trading of shares to give time to the network to inform investors on how the denial of franchise renewal application could affect the company’s business moving forward. The PSE said in an advisory that the local bourse have suspended the Philippine Depositary Receipts (PDRs) of the …

MANILA – With the franchise renewal application of ABS-CBN denied by the House of Representative, Vice President Leni Robredo urged the public to remember the names of the representatives who voted against the renewal and hold them accountable. [A] Pahayag ni Vice President Leni Robredo ukol sa pagbasura ng Kamara sa franchise renewal ng ABS-CBN Full text here: https://t.co/BH8ZRQklor pic.twitter.com/0fySxewzE5 …

KUALA LUMPUR – Malaysian Airlines and Japanese Airlines are set to launch a joint partnership on July 25, 2020, where the two airliner will cooperate commercially on flights between Malaysia and Japan According to the joint statement released, This initiative will enable both airlines to enhance their capabilities and leverage on each other’s strengths. With the Japanese’ precision in service …

MANILA – The House of Representatives Committee on Legislative Franchises on Friday denied the franchise bid of media giant ABS-CBN after a series of hearings. In a vote of 70 to 11, the Legislative franchise committee has crushed the network’s hope to continue its operations under a fresh franchise. According to the legislators, they have voted to deny the application …

KUALA LUMPUR – AirAsia Group Bhd has received a backing support from certain financial institution for more than RM1 billion, One day after its auditor cast doubt on the company’s ability to continue the business. AirAsia CEO Tan Sri Tony Fenandes said that the portion of the debt funding would be eligible under the Danajamin Prihatin Guarantee Scheme. The airline …

PETALING JAYA – AirAsia Group Berhadposted revenue of RM2.31bil in the first quarter, an almost RM800mil loss compared to the RM2.73bil revenue posted last year. AirAsia chief executive officer Tan Sri Tony said in a statement that the current period is by far “the toughest challenge” the company has ever faced. He added that AirAsia have been restructed the group …

MANILA – House speaker Alan Peter Cayetano said on Monday that Lawmakers should vote on their conscience on whether they would allow another 25-year franchise to the media titan ABS-CBN. Cayetano said that the house will not be imposing the lawmakers on how they should vote and would just allow the legislators to decide on their own. “Well, I cannot …

Citizens were busy protesting the ice cream producer Aice, PT Alpen Food Industry (AFI) on social media. Through the hashtag #BoikotAice or boycott Aice ice cream on Twitter, Monday, July 6. This protest became trending on Twitter Indonesia. The citizens echoed their anger at Aice Indonesia for demanding the welfare of the workers employed by the company. This citizens’ anger …

MANILA – The Department of Finance (DoF) may be consider banning the online selling of sin products such as liquor and ciggarettes in a bid to prevent the spread of counterfeit items. Finance Secretary Carlos Dominguez said that they will move to ban the online sales of ‘sin’ products if seller found to have sold it to minors. Trade Secretary …