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Security Bank names new CEO

MANILA, Philippines – Security Bank Corp. has appointed Victor Lee Meng Teck, a Singaporean veteran banker, as its new president and CEO effective early January 2026. Lee, the former CEO of CIMB Singapore, will replace Sanjiv Vohra after more than six years. READ: Retail, MSME loans buoy Security Bank H1 profit Vohra will remain as

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‘Clear risk of recession’ if US hits Swiss pharma with 100% tariff: expert

ZURICH, Switzerland – Wealthy Switzerland could face recession if Washington slaps its vital pharmaceutical sector with the threatened 100-percent tariff, a leading Swiss economic expert told AFP Monday. US President Donald Trump last week said he would impose 100-percent tariffs on all branded pharmaceutical products from Wednesday, unless companies build manufacturing plants in the United

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BIZ BUZZ: Philippine Airlines captures ‘4 stars’

MANILA, Philippines — Philippines Airlines (PAL) keeps soaring higher, as it has just bagged a prestigious 4-Star Major Airline 2026 rating. The flag carrier earned the award from the Airline Passenger Experience Association (Apex), a US-based air travel organization. Airlines securing this status mean that they “consistently deliver excellence across critical touch points—cabin comfort, cleanliness,

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Stock markets shrug off US government shutdown fears

NEW YORK, United States – Global stock markets mostly rose on Monday, shrugging off concerns about a looming US government shutdown as markets eyed key budget talks set for Monday afternoon. Following a mostly positive round of trading in Europe and Asia, Wall Street’s main indices finished modestly higher. US President Donald Trump was expected

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PNB to bolster core business with exit from Bahrain

MANILA, Philippines — Philippine National Bank’s (PNB) move to let go of its Bahrain operations and dissolve two of its units would allow it to cut costs and focus on expanding its core business, according to an analyst. Ron Acoba, chief investment strategist at Trading Edge Consultancy, told the Inquirer PNB could still serve its

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Safeguard duty on cement won’t raise prices, say firms

MANILA, Philippines — The proposed safeguard duty on cement imports is unlikely to raise prices but instead help safeguard the local industry against unfair competition, an industry group said. “The measure is needed to give local manufacturers a fair chance to compete against foreign suppliers that enjoy government support,” the Cement Manufacturers Association of the