President Ferdinand Marcos Jr. on Thursday announced the apprehension of former AKO-Bicol Party-list Congressman Rizaldy “Zaldy” Co by Czech authorities for traveling without proper documents. Marcos said the former lawmaker wanted for his alleged role in the flood-control controversy is currently detained in Prague. he said the Philippine government is closely coordinating with Czech officials to ensure all legal procedures are followed and to facilitate his return to Manila “at the soonest possible time.” Authorities said they will keep the public informed as developments unfold.
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Banking & Insurance
SSS, RCBC team up to widen digital microloans
The Social Security System (SSS) and Rizal Commercial Banking Corp. have signed a memorandum of understanding to expand digital access to short-term credit, rolling out the pension fund’s LoanLite facility through RCBC’s mobile platform.
Energy & Mining
Luzon Grid under yellow alert due to power plant outages
The Luzon power grid was placed under a yellow alert from 4 p.m. to 10 p.m. on Thursday, April 16, due to several power plants going offline.
Corporate
Jollibee wins Korea nod for Shabu All Day
Jollibee Foods Corp., the Philippines’ largest fast-food chain, said it has secured regulatory approval in South Korea for its planned acquisition of All Day Fresh Co., Ltd., the company behind the “Shabu All Day” hot pot chain, marking a key step in expanding its presence in one of Asia’s most competitive dining markets.
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