SR Group Limited today announced that its application for the registration and listing of ESR China REIT (“ESR C-REIT”) <中航易商仓储物流基础设施REIT > has been approved by the China Securities Regulatory Commission (CSRC) <中国证券监督管理委员会>. ESR is the Sponsor of ESR C-REIT, AVIC Fund is a licensed REIT manager under the current C-REIT listing rules, and China Merchants Securities Co., Ltd. is the financial advisor. As Sponsor and project manager, ESR will be able to provide ESR C-REIT with a future pipeline of assets for acquisition from its quality portfolio of assets under management (“AUM”) and development pipeline. In China, ESR Group manages…
Author: BusinessNews.ph
The demand for flexible office spaces is increasing, driven by changes in how various industries operate. Industries such as digital marketing, technology start-ups, and consulting services are at the forefront, seeking office setups that can adapt to rapid shifts in team size and project needs. These offices are essential for companies that need the ability to scale up or down efficiently. Choosing the right flexible office is crucial, it’s not just about finding a place to work; it’s about finding a space that supports the dynamic needs of a business, enhancing productivity and facilitating growth. Why Are Flexible Offices Becoming…
Aboitiz Power Corporation is optimistic that its additional 150-megawatt coal-fired power plant in Toledo City will help address the foreseen supply gap in Cebu in 2028. Cebu’s demand for power is expected to outpace the available supply by 2028 and addressing these power supply challenges is crucial in ensuring the province and the region can achieve its economic growth potential, said Ronaldo Ramos, chief operating officer of the AboitizPower Thermal Business Group. The Department of Energy earlier projected that energy demand for Cebu Province will reach around 1,400 MW by 2026 and will outpace supply by 2027 if no new…
METRO MANILA – Here is the official 6/55 Grand Lotto Result today, Saturday, June 15, 2024, based on the official draw result of the Philippine Charity Sweepstakes Office (PCSO). Please refresh this page after the 9PM draw to view the result. The Grand Lotto 6/55 jackpot starts at P29.7 million (net of agent’s prize commission). The jackpot grows each time there is no winner. If there are more than one jackpot winner, the jackpot prize will be divided equally among the winners. 6/55 Grand Lotto Result for today, June 15, 2024: [ Result: 42-16-24-07-12-31 ] How to Play 6/55 Grand…
Globe has teamed up with the United Nations World Food Programme (WFP) to extend the reach of the Hapag Movement to international donors, launching this collaboration on World Hunger Day to highlight the ongoing hunger issue in the Philippines. Building on the positive momentum of the Hapag Movement over the past two years, this significant partnership elevates the initiative to the global stage, enabling Globe to garner support from individuals and organizations beyond the country’s borders. The collaboration aims to broaden the donor base for the Hapag Movement and enhance its impact. Since its inception in 2022, the Hapag Movement…
Food industry executive Felix O. Tiukinhoy Jr. shared insightful business ideas with an enthusiastic crowd of professionals, entrepreneurs and aspiring leaders at the Asian Institute of Management (AIM) Davao Roadshow. The event was held at the TED Library of the Philippine Women’s College of Davao on May 17, 2024. Tiukinhoy, MBM ’76, chairman of the Alumni Association of AIM Inc., is among the accomplished alumni of the prestigious business school who graced the LEAD, INSPIRE, TRANSFORM roadshow. The event sparked a passion for leadership and innovation. Tiukinhoy is the chairman and president of Virginia Foods Inc. and president of the…
Philippine Airlines (PAL) becomes the first Asian airline to adopt SkyBreathe® OnBoard to increase fuel savings live from the flight deck. The country flag carrier has announced its partnership with OpenAirlines, the leading provider of fuel management solutions for airlines to integrate SkyBreathe® OnBoard into its operations. This collaboration marks a significant step forward in the airline’s commitment to environmental responsibility and operational efficiency. SkyBreathe® OnBoard is a user-friendly digital solution that uses advanced algorithms based on the world’s largest fuel-efficiency database and real-time data to provide live assistance on fuel-saving initiatives in the cockpit. The solution is part of…
Globe Telecom Inc. announced its financial and operating results for the first quarter of 2024, highlighting robust performance across key metrics. Revenues reached P41.1 billion, a 3% increase year-on-year (YoY). The company achieved a record EBITDA of P21.4 billion, up 4% YoY, with an EBITDA margin of 52%. Normalized and core net income after tax (NIAT) both rose by 13% YoY to P5.8 billion. Globe’s fintech arm, Mynt, now contributes 11% to the company’s net income before tax. The mobile business reported revenues of P29.1 billion, an 8% YoY increase, driven by mobile data revenues of P23.8 billion, up 10%…
CEBU, Philippines — Filipino Homes, a leading real estate solutions firm, announced the expansion of its Global Partners program to seven new countries following a successful launch in Dubai. The program will now extend to Bangkok, the United Arab Emirates, Japan, Singapore, Malaysia, the United States, and Europe. Anthony Gerard O. Leuterio, founder and CEO of Filipino Homes, emphasized the program’s role in providing Overseas Filipino Workers (OFWs) with reliable property investment information and assistance through the Filipino Homes Group of companies. The expansion aims to protect OFWs from real estate scams prevalent in overseas transactions. “Global Partners is essentially…
PANGLAO, Bohol — The local government of Panglao has ordered the immediate closure of Villa Tomasa Q, a popular resort on the island, for allegedly operating without a valid business permit. The resort, formerly known as Alona Kew White Beach Resort, received a closure order after failing to renew its business permit for 2024, despite receiving a notice over 10 days ago from the Business Permit Licensing Office of Panglao. “Based on the foregoing factual setting, you cannot anymore blame us for not giving you the right to due process, if the LGU Panglao through the undersigned Chief Executive will…