• Chinese Lured by Beaches Are Philippine Airlines' Next Target
    Finance
    Bloomberg

    Chinese Lured by Beaches Are Philippine Airlines' Next Target

    The sandy shores of the Philippines will soon be within easier reach of Chinese tourists looking for a summer vacation spot. Philippine Airlines Inc. plans to begin flights this year to secondary cities in China, which may include Nanning, Haikou, Hangzhou and Chengdu, where tourists rent planes to

  • The Philippines Wants More Bourdain-Like Tourists
    Finance
    Bloomberg

    The Philippines Wants More Bourdain-Like Tourists

    Anthony Bourdain inspired a generation of travelers to look beyond sanitized attractions and experience a country’s culture, food and people. The Philippines wants to make sure those tourists keep coming even as it shut down one of Asia’s top beaches. The Southeast Asian nation credits the late gourmand

  • Singapore’s Future Is Good, Not Great, Economists Estimate
    Finance
    Bloomberg

    Singapore’s Future Is Good, Not Great, Economists Estimate

    Aging demographics and rising labor costs will weigh on the city-state, which focused on a significant manufacturing sector to support growth, economists said. Singapore stands out against a landscape of emerging Asia cities that are relying more and more on services to juice growth, according to an

  • COMMENT: Singapore, Save Your Water Baby From Mahathir
    Finance
    Bloomberg

    COMMENT: Singapore, Save Your Water Baby From Mahathir

    A homegrown Singaporean company that owns one of the financial center’s three seawater desalination plants is struggling to stay afloat. Whether Hyflux Ltd. sinks or swims will matter to creditors and shareholders. Now that Singapore’s old foe Mahathir Mohamad is back as Malaysia’s prime minister,

  • Singapore's Lead Over Malaysia's Economy Is Shrinking
    Finance
    Bloomberg

    Singapore's Lead Over Malaysia's Economy Is Shrinking

    Malaysia is inching closer to regaining its lead over Singapore’s economy after trailing for a third straight year. The nation’s gross domestic product was $314.5 billion in 2017, about $9.4 billion less than Singapore’s $323.9 billion, according to data from the World Bank. That deficit is set to shrink

  • Asia's Newest Millionaires Swap Basket-Case Economy for Fine Art
    Finance
    Bloomberg

    Asia's Newest Millionaires Swap Basket-Case Economy for Fine Art

    In the Philippines, where a fifth of the country lives beneath the poverty line, locals have a new obsession: fine art. Salcedo Auctions is gearing up for its flagship annual sale in September that last year left standing room only beneath the chandeliers of the ballroom in Manila’s five-star Peninsula

  • Expatriate Workers Are Leaving Saudi Arabia in Droves
    Finance
    Bloomberg

    Expatriate Workers Are Leaving Saudi Arabia in Droves

    Light trails from automobile traffic traveling along the King Fahd highway, left, and Olaya Street, right, lead towards the Kingdom Tower, center rear, in Riyadh, Saudi Arabia. Saudi Arabia’s expatriate workers are leaving the kingdom by the thousands, and the exodus may not yet be over. The number

  • A Single Parking Space in Hong Kong Has Sold for $765,000
    Finance
    Bloomberg

    A Single Parking Space in Hong Kong Has Sold for $765,000

    The market for parking spaces is hotter than ever as a single spot in a luxury development in Kowloon’s Ho Man Tin district changed hands for a record HK$6 million ($765,000).

  • Philippine Policy Maker Defends Rate Action as Peso Slumps
    Finance
    Bloomberg

    Philippine Policy Maker Defends Rate Action as Peso Slumps

    The Bangko Sentral ng Pilipinas logo is displayed on an automatic barrier at its headquarters in the Philippines. The Philippine central bank is committed to its inflation target, policy board member Felipe Medalla said, defending the central bank’s measured pace of interest-rate hikes aimed at calming

  • Duterte's Anti-Corruption Purge Now Revolving Door of Officials
    Finance
    Bloomberg

    Duterte's Anti-Corruption Purge Now Revolving Door of Officials

    Philippine President Rodrigo Duterte has taken great pride in firing nearly two dozen officials in an anti-corruption drive since he came to power two years ago. Delivering on a promise to dismiss anyone on “just a whiff” of corruption, Duterte has sacked 21 officials and accepted the resignation of

  • Locals See Opportunity in $55 Billion Philippine Stocks Rout
    Finance
    Bloomberg

    Locals See Opportunity in $55 Billion Philippine Stocks Rout

    Unfazed by a foreign-led selloff that wiped out about $55 billion in Philippine stocks, some local individual investors are seeing opportunities to buy. Rommel Songco, 45, who left his senior finance role at a telecom company and is now a full-time day trader, is wading through the worst back-to-back

  • Challenges Mount in Philippine Central Bank Chief's Second Year
    Finance
    Bloomberg

    Challenges Mount in Philippine Central Bank Chief's Second Year

    Philippine central bank Governor Nestor Espenilla faces mounting challenges as he begins his second year in office. The 59-year-old central banker is set to miss his inflation target while the peso wallows near a 12-year low, spurring criticisms that he took his time in raising interest rates. As he

  • Two Years of Duterte: A Mixed Picture of Drug War, Economic Boom
    Finance
    Bloomberg

    Two Years of Duterte: A Mixed Picture of Drug War, Economic Boom

    President Rodrigo Duterte’s two years in office in the Philippines have been marred by controversy, but with one big success: a booming economy. The brash, 73-year-old leader – nicknamed The Punisher when he was a crime-busting town mayor for two decades – has led an anti-drug war that’s killed thousands

  • Trump Spouse-Visa Shift May Hurt Workers, Push 100,000 From Jobs
    Finance
    Bloomberg

    Trump Spouse-Visa Shift May Hurt Workers, Push 100,000 From Jobs

    U.S. President Donald Trump’s plan to ban spouses of high-skill visa holders from working will likely push 100,000 people out of jobs and negatively affect the visa holders and their employers, according to a new research study.

  • Millennials Want Diversity That's More Than Just Skin-Deep
    Finance
    Bloomberg

    Millennials Want Diversity That's More Than Just Skin-Deep

    Millennial workers and those in Generation Z – the demographic after the millennials, born from about the mid-1990s – say businesses most need to address having workers with varied educational backgrounds, according to a Deloitte study. Educational background tops age, gender, disability, ethnicity,

  • Singapore Study Finds Diversity Tied to Business Performance
    Finance
    Bloomberg

    Singapore Study Finds Diversity Tied to Business Performance

    Advocates for corporate gender equality might want to take a closer look at research from a Singapore university linking diversity to business performance. Having just one female independent director on a company’s board can raise its business performance by at least one measure, according to a study

  • China's Push for More Babies Is Proving Costly
    Finance
    Bloomberg

    China's Push for More Babies Is Proving Costly

    A child holds a Chinese flag while tourists and pedestrians walk past a portrait of former Chinese leader Mao Zedong at Tiananmen Square in Beijing, China. Chinese President Xi Jinping wants women to have more babies. After government-run insurance funds paying for maternity leaves suffered revenue

  • China Begins to Question Whether It’s Ready for a Trade War
    Finance
    Bloomberg

    China Begins to Question Whether It’s Ready for a Trade War

    A dock worker prepares to board CMA CGM SA’s Benjamin Franklin container ship docked at the Guangzhou Nansha Container Port in China. Xi Jinping vowed to match Donald Trump blow for blow in any trade war. Now as one gets closer, some in Beijing are starting to openly wonder whether China is ready for

  • Jack Ma Embraces Blockchain for Ant But Warns of Bitcoin Bubble
    Finance
    Bloomberg

    Jack Ma Embraces Blockchain for Ant But Warns of Bitcoin Bubble

    Billionaire Jack Ma has declared Bitcoin a potential bubble, reiterating his caution over the volatile cryptocurrency as his Ant Financial on Monday launched blockchain-based money transfers between Hong Kong and the Philippines. The founder and chairman of Alibaba Group Holding Ltd. extolled the possibilities

  • Philippine Stock Exchange Gets SEC Approval for Short Selling
    Finance
    Bloomberg

    Philippine Stock Exchange Gets SEC Approval for Short Selling

    The Philippine Stock Exchange has secured approval from regulators to introduce short selling, giving investors a tool to hedge risk or boost profit. “We are optimistic that this facility will lend support to our securities borrowing and lending program and help improve liquidity in our market,” the

  • Mahathir Revives Singapore Water Dispute, Takes Swipe at Trump
    Finance
    Bloomberg

    Mahathir Revives Singapore Water Dispute, Takes Swipe at Trump

    Malaysian Prime Minister Mahathir Mohamad has revived the muscular foreign policy that characterized his first stint in power, seeking to renegotiate a longstanding water supply agreement with Singapore and taking shots at both the U.S. and China.

  • Singapore Airlines CEO Sees Cargo Market Cooling as Supply Adjusts
    Finance
    Bloomberg

    Singapore Airlines CEO Sees Cargo Market Cooling as Supply Adjusts

    Singapore Airlines CEO Goh Choon Phong discusses the impact of oil prices and global trade tensions on the airline’s business. As the brewing trade battle between the U.S. and China threatens to slow demand for air freight, the market also is likely to cool as demand gets in line with supply, according

  • Weak Peso, Trade Gap Are Boon to Philippines, Finance Chief Says
    Finance
    Bloomberg

    Weak Peso, Trade Gap Are Boon to Philippines, Finance Chief Says

    Philippine Finance Secretary Carlos Dominguez said a weak peso is benefiting the economy, and a widening in the trade deficit and faster inflation are signs of strong growth. The depreciation in the peso, Asia’s worst performing currency that’s lost more than 6 percent against the dollar this year,

  • Top Philippine Fund Manager Says Stock Market Rout Not Over
    Finance
    Bloomberg

    Top Philippine Fund Manager Says Stock Market Rout Not Over

    The Philippine central bank needs to do more to help the stock market recover from a slump that has made it Asia’s worst performer this year, according to the nation’s biggest money manager. Fritz Ocampo, who manages about $19 billion as chief investment officer at BDO Unibank Inc. in Makati, said the

  • Philippines' Hike Not Enough for Asia's Worst Market: Analysts
    Finance
    Bloomberg

    Philippines' Hike Not Enough for Asia's Worst Market: Analysts

    The Bangko Sentral ng Pilipinas logo is displayed on an automatic barrier at its headquarters in Manila, the Philippines. While the Philippine central bank increased its benchmark interest rate for a second month, the action isn’t enough to help lift Asia’s worst-performing market, according to some