THE FREEMAN/JOY TORREJOS THE DEPARTMENT of Justice (DoJ) found probable cause to criminally charge Kapa-Community Ministry International, Inc. (KAPA) for operating an investment scam. Corporate regulator Securities and Exchange Commission (SEC) said in a statement yesterday a Sept. 25 resolution by the DoJ saw violations by KAPA of the Securities and Regulation Code (SRC). The violations were on Section 8 (8.1), which requires securities to be registered in the SEC to be sold; Section 26.1,…"DoJ recommends filing of criminal charges vs KAPA"
The Liberals fell short of a majority in Monday’s federal election, leading in 157 of the 338 seats in the House of Commons as of early Tuesday. That means Prime Minister Justin Trudeau will need to work with other parties to pass his proposals. The Liberals are likely to look for support from the New Democratic Party, which took 24 seats. While they have different positions on issues like energy and trade, the Liberal and…"What a Liberal minority means for Canada’s innovation economy"
LONDON — Canada was named the best country for business leaders seeking to tackle social problems in a global poll on Tuesday while the United States fell from top slot due to political uncertainty. Australia came second in the Thomson Reuters Foundation’s second global survey on the best countries for social entrepreneurs, seeing the biggest gain of 24 places from the inaugural poll in 2016, while France came third. Mexico came last, down 15 places…"Canada overtakes U.S. as best country for entrepreneurs seeking to tackle social problems"
AYALA CORP. (AC) is looking at issuing dollar-denominated perpetual bonds, with a selection of banks to handle the issuance. In a disclosure to the stock exchange yesterday, the listed conglomerate said it mandated several banks for a Regulation S offering of dollar-denominated fixed-for-life (non-deferrable) perpetual notes. It tapped the Hong Kong Shanghai Banking Corporation Ltd. (HSBC) to be the sole global coordinator for the issuance. Acting as joint lead managers and joint bookrunners are BPI…"Ayala eyes perpetual bond issue"
BW FILE PHOTO MANILA ELECTRIC Co. (Meralco) said on Tuesday that the concession for the operation and maintenance of the assets of the Electricity Company of Ghana (ECG) has been terminated by the Ghanian government. The concession, which was suspended by the government of Ghana effective July 31, had been terminated due to alleged “material breaches” in the provision of the demand guarantees by the Power Distribution Services Ghana Ltd. (PDS). PDS is the special…"Ghana gov’t terminates concession for ECG"
Globe Telecom, Inc. President Ernest L. Cu GLOBE TELECOM, Inc. President Ernest L. Cu on Tuesday said village health centers in Makati City, its city hall and the University of Makati will benefit from free WiFi access following the signing of an agreement between the telco and the Makati city government on free internet access. “Globe Prepaid & TM customers in Makati can enjoy 1GB of free GoWiFi for every registration of GoSAKTO, GoSURF &…"Makati health centers, city hall to get free WiFi"
BANK OF FINLAND Governor Olli Rehn attends a Reuters Newsmaker event in Britain on May 29. — REUTERS EUROPEAN Central Bank (ECB) officials must bear in mind their previous premature interest-rate hikes and the market turmoil around the US Federal Reserve’s tapering of bond purchases when they eventually start to tighten monetary policy, Bank of Finland Governor Olli Rehn warned. “The core inflation rate remains low and clearly below the ECB’s price-stability target,” Mr. Rehn…"Normalizing ECB policy must wait — Rehn"
GRAB PHILIPPINES on Tuesday announced the expansion of its online food delivery service to Bacolod City. “To celebrate MassKara Festival this year, Grab is introducing GrabFood in Bacolod in a bid to banner the excellent culinary scene, promote local entrepreneurs, and enable Negrenses to do more and get their favorite food where and when they want it,” Grab said in a statement. The online food delivery platform of ride-hailing app Grab is currently available in…"GrabFood expands service to Bacolod"
DEUTSCHE BANK AG is looking to cut jobs in the unit that trades interest-rate securities to reduce costs. — REUTERS DEUTSCHE BANK AG is considering substantial cuts to the unit that trades interest-rate securities, a division that survived a large-scale pullback as part of the lender’s sweeping revamp in July. Chief Executive Officer Christian Sewing has concluded that it’s possible to reduce enough of the associated technology costs to outweigh the loss in revenue, according…"Deutsche Bank eyes job cuts of at least 10% in rates unit"
THE Energy Regulatory Commission (ERC) has denied an appeal by two energy agencies to reconsider an earlier ERC rejection of their motion to intervene in the petition of privately owned National Grid Corp. of the Philippines (NGCP) to extend the period for its public listing. In an order promulgated on Oct. 17, the ERC said a “careful scrutiny” of the allegations presented by the National Transmission Corp. (TransCo) and the Power Sector Assets and Liabilities…"Energy regulator rejects motion to reconsider NGCP listing ruling"