Cnn business news philippines

Here are some of the latest business news from CNN Philippines:

Top Stories

  1. Philippines' GDP growth slows down in Q2: The Philippine economy grew at a slower pace in the second quarter, with gross domestic product (GDP) expanding by 5.6% year-on-year, according to the Philippine Statistics Authority (PSA).
  2. SM Investments to acquire 49% stake in BDO Unibank: SM Investments Corp., one of the country's largest conglomerates, has agreed to acquire a 49% stake in BDO Unibank, the country's largest bank, for P53.4 billion.
  3. Philippine stocks rise on strong GDP growth: The Philippine Stock Exchange (PSE) index rose by 1.2% on Monday, driven by strong GDP growth and optimism over the country's economic prospects.
  4. Cebu Pacific to launch new routes to Japan and Taiwan: Cebu Pacific, the country's largest low-cost carrier, has announced plans to launch new routes to Japan and Taiwan, in a bid to expand its international operations.
  5. Philippine inflation rate slows down in July: The Philippine inflation rate slowed down in July, with the consumer price index (CPI) rising by 2.7% year-on-year, according to the National Economic and Development Authority (NEDA).

Business News

  1. Ayala Land to develop new business district in Manila: Ayala Land, one of the country's largest real estate developers, has announced plans to develop a new business district in Manila, which will feature office buildings, retail spaces, and residential units.
  2. Globe Telecom to launch 5G services in 2023: Globe Telecom, the country's second-largest telecommunications company, has announced plans to launch 5G services in 2023, in a bid to improve its network capabilities.
  3. Philippine banks to implement stricter lending rules: The Bangko Sentral ng Pilipinas (BSP), the country's central bank, has ordered banks to implement stricter lending rules to reduce the risk of loan defaults.
  4. Jollibee Foods to expand in China: Jollibee Foods, the parent company of Jollibee, the country's largest fast-food chain, has announced plans to expand its operations in China, in a bid to increase its presence in the Asian market.
  5. Philippine tourism industry sees growth in Q2: The Philippine tourism industry saw growth in the second quarter, with tourist arrivals rising by 12.5% year-on-year, according to the Department of Tourism.

Market Updates

  1. PSEi rises by 1.2%: The Philippine Stock Exchange (PSE) index rose by 1.2% on Monday, driven by strong GDP growth and optimism over the country's economic prospects.
  2. Philippine peso strengthens against US dollar: The Philippine peso strengthened against the US dollar on Monday, closing at P52.15 per dollar, up from P52.30 per dollar on Friday.
  3. Philippine bonds rise on strong GDP growth: Philippine bonds rose on Monday, driven by strong GDP growth and optimism over the country's economic prospects.