Cemex Holdings Philippines has secured $125 million from seven cornerstone investors for the IPO.
By Neil Jerome Morales
The Philippines has stopped accepting applications for new ride-sharing vehicles of Uber and Grab due to a backlog amid a government review of its policies on fare spikes.
Philippine venture capital Future Now Ventures has invested a working seed capital in local startup Reekoh, which is in the business of an Internet-of-Things (IoT) Platform-as-a-Service & Developer Ecosystem.
Foreign banks including Japan’s Sumitomo Mitsui Financial Group Inc. and Singapore’s United Overseas Bank Ltd. have received approval to open branches after the Philippines loosened its rules on foreign ownership in 2014.
Restaurant search and review website Zomato Media Pvt. Ltd said on Monday that the company has reached operational profitability in six markets, including India. Zomato has also turned operationally profitable in the United Arab Emirates, Lebanon, Qatar, the Philippines and Indonesia. “We can now channelize the profits to grow faster… Read more »
The Philippines, involved in a territorial dispute with Beijing in the South China Sea, is set to join the China-backed Asian Infrastructure Investment Bank, describing it as a “promising institution” that could help accelerate economic growth. The AIIB, which has become one of China’s biggest foreign policy successes, has been… Read more »
Doctor booking platform Practo has got into a global partnership with taxi-hailing platform Uber to help people reach doctors easily, according to a statement. As part of the deal, Practo has integrated Uber into its platform, that will help a Practo app user also get information on the closest Uber… Read more »
Online doctor discovery platform Practo Technologies Pvt. Ltd has launched its services in Malaysia, in line with the company’s plans to branch out to at least 10 developing countries by the end of the year. Apart from India, Practo is now present in Singapore, Indonesia, Malaysia and the Philippines. The… Read more »
The Philippine government has invited underwriters to pitch for a sovereign bond offering, paving the way for a return to the global market before the end of the year, IFR reported on Monday. National Treasurer Roberto Tan told IFR and Reuters in August that the Philippines was considering issuing a… Read more »
BDO Unibank Inc, the Philippines’ largest lender in terms of assets, has set up a $2 billion medium-term note programme and mandated Standard Chartered as lead arranger, IFR reported on Monday. ANZ, Goldman Sachs, Barclays, HSBC, Nomura, Citigroup, ING, Standard Chartered, Daiwa, JP Morgan, UBS, Deutsche Bank and Mizuho Securities… Read more »