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The Philippine government has sanctioned an unprecedented 12% increase in the daily minimum wage for Metro Manila, providing an additional 85 pesos (US$1.4) in two separate instalments beginning later this month. This decision is set to impact over 1.1…
SM Investments, a conglomerate with operations in retail, banking, and property, experienced solid retail sales during the first three quarters of the year. These robust sales contributed to a consolidated net income of US$1.09 billion, a 6% rise compared to…
The retail vacancy rate in Metro Manila is projected to return to pre-pandemic levels by 2022, according to a recent study by Colliers Philippines. The rate of empty retail spaces in Metro Manila eased to 11.4% as of September 30, 2021. By the close of next…
Oysho, an activewear brand under the umbrella of Inditex, the same company that owns Zara, has recently made its grand entrance into the Philippine market with a store opening at the Mall of Asia in Manila. A Fresh Concept for Retail Space The newly launched…
An estimated 177,000 square meters of new retail space is on the horizon, set to make waves in Manila’s market by the second half of 2025. As the bustling holiday season approaches, tenants are revamping their strategies and gearing up for a promising…
The Philippines is witnessing an exciting technological leap as leading telecommunications operators PLDT and Globe Telecom embark on trials and initial deployments of Taara, a cutting-edge laser internet system developed by Google’s ambitious X Moonshot…
Chagee: The Chinese Tea Brand Poised to Enter Philippine Market Chagee, a renowned Chinese tea brand, is poised to infiltrate the Philippine market. This expansion is earmarked for August, with three branches slated for unveiling in Metro Manila. The fresh…
According to a recent report by Colliers, the Philippine hospitality sector is on the upswing, bolstered by significant infrastructure improvements and an influx of international visitors. In 2024, the country welcomed nearly 5.95 million tourists, a figure…
Lawson, the prominent Japanese convenience store chain, is gearing up for an ambitious expansion, unveiling plans to launch over 5,000 new stores across China in the next six years. This initiative marks an impressive 80% growth as Lawson intensifies its…
Qantas has today announced it will launch a new route from Manila with direct flights to Brisbane in Queensland, Australia. From 28 October 2024*, the flights will operate four days per week with the Airbus A330 aircraft, marking the first flights set to be…
AirAsia Philippines is strengthening its international presence in two of its major hubs – Manila and Cebu, with the return of the Manila-Shanghai flight and two new routes out of the Queen City of the South to Shenzhen and Narita. ‘The reopening of…
Cebu Pacific is set to restore 100% of its pre-Covid network and capacity by March 2023. It now flies to 34 domestic destinations and is set to bring back all its 25 international destinations before the end of the first quarter. To support the return of…
The newly appointed head of the Philippines’ Department of Information and Communications Technology, or DICT, said that the agency will ensure more efficient public service delivery through digitalization. The department’s executive attended a turnover…
President Rodrigo Duterte has signed into law a measure that would further open up the Philippine retail sector to more foreign retail businesses by lowering their required paid-up capital. Republic Act (RA) 11595, which amends RA 8762, also known as the…
Airasia Philippines has recorded its best performance yet since the Covid-19 pandemic hit in 2020, its officials said yesterday. Topping the list of AirAsia’s most preferred domestic flights within the peak Christmas travel period between December 20 to…
The world’s largest Ikea store, Ikea Pasay City in Manila, is set to open its doors to the public this month after being delayed due to the Covid-19 pandemic. Ikea Pasay City also marks the chain’s first location in the Philippines. The 67,760sqm store,…
