TODAY'S BUSINESS HEADLINES

President Aquino cites country’s gains from US’ MCC Compact grant Wed, May 25, 2016, 1:55 AM | Leslie D. Venzon, Philippines News Agency

SWIFT to unveil new security plan after hackers' heists Tue, May 24, 2016, 10:21 AM | Huw Jones and Tom Bergin, Reuters

PNoy receives P40-B dividends from GOCCs, thanks them for complying with tough reforms Mon, May 23, 2016, 4:13 PM | InterAksyon.com | With Roices Naguit, News5

Oil prices jump above $50 for first time this year 8:54 pm | Agence France-Presse Oil prices jumped Thursday above $50 for the first time this year as a long-lasting global supply glut shows increased signs of easing.

Duterte vows economic growth outside of \ Duterte vows economic growth outside of 'dead' Philippine capital 5:25 pm | Agence France-Presse Incoming Philippine president Rodrigo Duterte pledged Thursday to spread economic activity beyond the overpopulated capital of Manila, calling it a 'dead' city overrun by shantytowns.

Aquino unveils P3.3-B water transmission project in Bulacan Aquino unveils P3.3-B water transmission project in Bulacan 3:08 pm | Emil G. Gamos, PNA President Benigno S. Aquino III on Thursday assured residents of Metro Manila, Bulacan, Rizal and some parts of Cavite of adequate and uninterrupted supply of…

2GO posts P412M, 37% profit growth in Q1 2016 2GO posts P412M, 37% profit growth in Q1 2016 2:40 pm | InterAksyon.com Logistics giant 2GO Group Inc. sustained its growth streak by posting a hefty 37% surge in its net income before tax to P412.4 million in…

Apple supplier in China replaces 60,000 employees with robots Apple supplier in China replaces 60,000 employees with robots 11:26 am | Philippines News Agency, Sputnik The Foxconn Technology Group (Hon Hai Precision Industry Co.), an Apple Inc. supplier, has replaced 60,000 factory employees with robots, the MarketWatch reports citing Chinese…

Jollibee to pour P260 million into poultry processing plant project with Cargill Jollibee to pour P260 million into poultry processing plant project with Cargill 9:34 am | Leslie D. Venzon, Philippines News Agency Home-grown fastfood giant Jollibee Foods Corp. (JFC) will invest P260.1 million in the joint venture with Cargill Philippines Inc. to build and operate a poultry…

Aquino signs law giving more protection to 50 million deposit account holders Aquino signs law giving more protection to 50 million deposit account holders 8:19 am | Philippines News Agency Millions of bank depositors stand to benefit from the new law recently signed by President Aquino III giving depositors more protection.

FMIC, UA&P economists optimistic on sustained rise of PHL economy in Q2 '16 9:05 pm | Joann Santiago, Philippines News Agency FMIC, UA&P economists optimistic on sustained rise of PHL economy in Q2 \Economists of First Metro Investment Corp. (FMIC) and the University of the Asia and the Pacific (UA&P) forecast a sustained growth of the economy in the second quarter of 2016 as they expect the low inflation environment to boost domestic spending.

PHL stocks extend rally near 7,500 7:49 pm | Philippines News Agency PHL stocks extend rally near 7,500The local bourse rallied for the third consecutive day on Wednesday amid optimism on the US economy. The barometer Philippine Stock Exchange index (PSEi) zoomed 107.63 points or 1.46 percent to 7,463.95 from previous day’s 7,356.72 finish.

Oil prices push closer to $50, US crude hits highest in seven months 2:37 pm | Reuters Oil prices push closer to $50, US crude hits highest in seven monthsOil futures pushed closer to $50 a barrel on Wednesday, with US crude hitting its highest in over seven months after industry data suggested a larger-than-expected drawdown in US crude inventories last week.

Stung by loss of secrecy at home, Swiss banks run into trouble in Asia 6:23 am | Joshua Franklin, Saeed Azhar and Anshuman Daga, Reuters Stung by loss of secrecy at home, Swiss banks run into trouble in AsiaRegulators' closure of the Swiss BSI bank's Asian outpost for failing in its duty to prevent money-laundering has highlighted the risks of hunting wealthy clients farther afield as Swiss banks' traditional line in hiding money from foreign tax men is choked off.

President Aquino cites country’s gains from US’ MCC Compact grant 1:55 am | Leslie D. Venzon, Philippines News Agency President Aquino cites country’s gains from US’ MCC Compact grantPresident Benigno Aquino III said on Tuesday millions of Filipinos are benefitting from the $434-million grant assistance from the United States Millennium Challenge Corporation (MCC) Compact grant available for projects specifically targeted to reduce poverty in the country.

US TSA starts security assessment of NAIA 1:30 am | Richie Lopa, InterAksyon.com US TSA starts security assessment of NAIAThe Transportation Security Administration (TSA) of the United States Government begins this week its inspection of the Ninoy Aquino International Airport (NAIA) to ensure that the Philippines' premier airport meets international safety standards.

Slow but steady recovery seen for mining 6:04 pm | Shyla Francisco, Bloomberg TV Philippines Slow but steady recovery seen for miningThe Mines and Geosciences Bureau is optimistic about the early recovery in mining production, and is eyeing a 20 to 23 percent growth in the value of metal output, reversing the 23-percent contraction in 2015.

Kiosked to invest US$10M in Asia Pacific through 2017 4:28 pm | InterAksyon.com Kiosked to invest US$10M in Asia Pacific through 2017Kiosked's investment comes at a time when the digital publishing sector in the Asian market continues to expand, embracing digital display, video, mobile, and so-called 360° advertising units.

SWIFT to unveil new security plan after hackers' heists 10:21 am | Huw Jones and Tom Bergin, Reuters SWIFT to unveil new security plan after hackers\The SWIFT secure messaging service that underpins international banking said it plans to launch a new security program as it fights to rebuild its reputation in the wake of the Bangladesh Bank heist.

Production of Coke halted in Venezuela for lack of sugar 8:39 am | Reuters Production of Coke halted in Venezuela for lack of sugarThe Venezuelan bottler of Coca-Cola has halted production of sugar-sweetened beverage due to a lack of sugar, a spokeswoman said on Monday.

OIL PRICE HIKE | Diesel up by P1/L, gasoline up by P1.20/L Tuesday 8:30 pm | Philippines News Agency OIL PRICE HIKE | Diesel up by P1/L, gasoline up by P1.20/L TuesdayOil firms will hike pump prices of diesel and gasoline on Tuesday, pushed by higher prices in the international markets.

Senate grants franchise to airline firm, electric coop and telcos 7:22 pm | InterAksyon.com Senate grants franchise to airline firm, electric coop and telcosThe Senate on Monday approved on third and final reading a bill seeking to grant a franchise to an airline company to establish, operate and maintain domestic and international transport services.

PNoy receives P40-B dividends from GOCCs, thanks them for complying with tough reforms 4:13 pm | InterAksyon.com | With Roices Naguit, News5 PNoy receives P40-B dividends from GOCCs, thanks them for complying with tough reformsAt his last opportunity to receive on government's behalf dividends remitted by state corporations, outgoing President Benigno Aquino III Monday thanked their sector for cooperating in drastic reforms that made it possible to cut costs and jack up their earnings.

CAN YOU LIVE WITHOUT GADGETS? | S. Koreans shun smartphones in 'space-out' competition 2:20 pm | Agence France-Presse CAN YOU LIVE WITHOUT GADGETS? | S. Koreans shun smartphones in \Dozens of people in one of the world's most wired nations took part Sunday in South Korea's 'space-out' competition aimed at promoting a life free from stress and information overload. They sat in a park without talking, eating, or using electronic devices, under the slogan 'Relax your brain.'

BSP named by The Asian Banker as best macroeconomic regulator in As-Pac 9:07 am | InterAksyon.com BSP named by The Asian Banker as best macroeconomic regulator in As-PacFor the second time, the Bangko Sentral ng Pilipinas (BSP) was awarded The Best Macroeconomic Regulator in Asia Pacific by The Asian Banker, noting the progress BSP has made to move closer to being a world-class monetary authority and catalyst for a globally competitive economy and financial system.

COCKTALES | Villar's Toronto-listed mining venture gets a Duterte boost 7:53 am | Victor C. Agustin COCKTALES | Villar\St. Augustine Gold and Copper Ltd., the operator for the planned King-king gold-copper mine project in Compostela Valley, has seen its share price surge 20 percent to 12 Canadian cents from 10 since the announcement of the Duterte-Villar alliance.