Del Monte unit starts selling US facilities

DEL MONTE Pacific Ltd. said its US subsidiary is improving its capacity utilization, as it has sold or in the process of selling assets of four US-based production facilities. The listed canned fruit manufacturer told the stock exchange yesterday US subsidiary Del Monte Foods, Inc. (DMFI) sold and transferred its Cambria, Wisconsin operations to Seneca Foods Corp. on Nov. 1. It also disposed of equipment at its Crystal City, Texas facility and is looking at…

"Del Monte unit starts selling US facilities"

China cryptocurrency crackdown elicits appeal

CRYPTO GIANTS Binance Holdings Ltd. and Tron have been banned on China’s largest micro-blogging service amid what appears to be fresh steps to crack down on digital currency trading. The official accounts of exchange operator Binance and blockchain platform Tron were suspended by Twitter-like Weibo last week. At the same time watchdogs in Shanghai issued notices calling for a cleanup of companies involved in cryptocurrency trading, while one in Beijing warned against illegal exchange operations.…

"China cryptocurrency crackdown elicits appeal"

Philippines is Radisson Hotels’ 3rd biggest market in Asia-Pacific

PARK INN by Radisson North EDSA in Quezon City opened this year. — DENISE A. VALDEZ By Denise A. Valdez, Reporter THE Philippines continues to be an important market for the Radisson Hotel Group, which is in the midst of a five-year plan to triple its footprint in Asia Pacific. Andre De Jong, Radisson Hotel Group Vice-President for Operations in Southeast Asia & Pacific, said in a media briefing in Quezon City Tuesday the Philippines…

"Philippines is Radisson Hotels’ 3rd biggest market in Asia-Pacific"

Ant looks to join race for Singapore bank licenses

ANT FINANCIAL may apply for a virtual banking license in Singapore. — WWW.ANTFIN.COM BILLIONAIRE Jack Ma’s Ant Financial Services Group said it may apply for a virtual banking license in Singapore, a move that would add a heavyweight contender to the race. “We are actively looking into this opportunity,” Hangzhou, China-based Ant Financial said in an emailed response to questions from Bloomberg News. The Monetary Authority of Singapore is offering as many as five digital…

"Ant looks to join race for Singapore bank licenses"

PetroEnergy’s Palawan wind farm gets go-signal from DoE

THE Yuchengcos’ energy arm PetroEnergy Resources Corp. said on Tuesday that its renewable energy unit had been awarded by the Energy department a service contract for a wind farm in San Vicente, Palawan. In a disclosure, it said the subsidiary PetroGreen Energy Corp. received the wind energy service contract from the Department of Energy (DoE) on Nov. 11, 2019 for a proposed project in the fast-growing tourism municipality around 130 kilometers north of Puerto Princesa…

"PetroEnergy’s Palawan wind farm gets go-signal from DoE"

BoJ can still deepen rates, within limits

BANK of Japan Governor Haruhiko Kuroda said the central bank has room to ease. — REUTERS TOKYO — The Bank of Japan (BoJ) has room to deepen negative interest rates, Governor Haruhiko Kuroda said on Tuesday, but he signaled there were limits to how far it can cut rates or ramp up stimulus. Kuroda shrugged off the view held by some critics that the BoJ had run out of tools to expand an already massive…

"BoJ can still deepen rates, within limits"

VLL partners with Mitsubishi to develop Manila condominium

VISTA LAND & Lifescapes, Inc. (VLL) is partnering with Japanese real estate developer Mitsubishi Estate Co., Ltd. to develop a mixed-use condominium in Taft Avenue, Manila. The Villar-led homebuilder said in a statement yesterday it signed an agreement with Mitsubishi Estate to form a 60-40 joint venture for the project. The deal involves VLL’s vertical development arm Vista Residences, Inc. and Mitsubishi Estate’s subsidiary Mitsubishi Estate Residence Co., Ltd. The joint venture company will build…

"VLL partners with Mitsubishi to develop Manila condominium"

New lender looking to establish virtual bank in the Philippines

BW FILE PHOTO A LENDER is looking to join the virtual banking race in the Philippines, according to Bangko Sentral ng Pilipinas (BSP) Deputy Governor Chuchi G. Fonacier. “There’s one right now na (that is) currently engaging the BSP but I cannot disclose the name,” Ms. Fonacier told BusinessWorld in an interview on the sidelines of the Asian Bankers Association Conference on Friday when asked about the development. She added that the lender is also…

"New lender looking to establish virtual bank in the Philippines"

Baby boomers are thriving on an ‘unprecedented’ $9-trillion inheritance 

The rich aren’t just getting richer. They’re getting older. And, fortunately for their children, they’re set to leave plenty of money in the bank. About US$36 trillion will flow from one generation to another over the next 30 years, according to a report Tuesday from wealth manager United Income. The pace of bequests has already started surging. Americans inherited US$427 billion in 2016, the most recent data available, up 119 per cent from 1989 even…

"Baby boomers are thriving on an ‘unprecedented’ $9-trillion inheritance "

Microsoft Teams surpasses 20 million daily active users, up 50% from July

Microsoft Corp. said on Tuesday its workplace messaging app, Teams, has more than 20 million daily active users, up from 13 million users in July. The software maker offers the app as a free add-on platform to its Office365 users. Through Teams, users can start a chat, share files, make calls and hold web conferences. Microsoft Teams, used by companies like General Electric and SAP, competes with Slack Technologies Inc. Slack, whose customers include Electronic…

"Microsoft Teams surpasses 20 million daily active users, up 50% from July"