IFC invests $100 million in Maynilad IPO
The International Finance Corporation (IFC), the private investment arm of the World Bank, has invested $100 million as a cornerstone investor in the initial public offering (IPO) of Maynilad Water Services, Inc., the largest water utility in the Philippines and Southeast Asia by active connections and population served.
Globe’s 9-month net income falls 14% amid industry challenges
Globe Telecom Inc. reported a 14 percent drop in net income for the first nine months of 2025, citing tough industry competition and economic disruptions from typhoons.
Government bracing for TC Uwan
The government is bracing as Tropical Cyclone Uwan (International name: Fund-Wong) barrels toward Central and Northern Luzon, rapidly intensifying and expected to hit super typhoon strength when it makes landfall on Saturday with sustained winds over 205 kilometers per hour, rivaling Typhoon Yolanda. Stretching 1,400 kilometers across, Uwan threatens Metro Manila, all of Luzon, and parts of the Visayas, with 200 to 400 millimeters of rain in just 24 hours. Some 61.6 million people live in its path, including 5.7 million in coastal zones. Authorities have placed disaster and relief teams on full alert, preparing evacuation centers, emergency supplies, and rapid-response units to mitigate flooding, power outages, and other risks from what could become one of the most severe storms in recent history.
Asiabest Group board approves valuation for target acquisitions
Listed firm Asiabest Group International, Inc. (ABG) has approved the valuation of three companies it plans to acquire as part of its expansion program.
Banks post steady growth, solid profits — BSP
The Bangko Sentral ng Pilipinas (BSP) said the country’s banking sector remained strong and stable in the first half of 2025, backed by steady asset growth and solid profits.
