GSIS chief stands by Alternergy, Digiplus investments; windfall cited

MANILA, Philippines — Government Service Insurance System (GSIS) President Jose Arnulfo Veloso defended the pension fund’s investment in Alternergy Holdings Corp. and DigiPlus Interactive Corp., citing windfall from both listed companies. Veloso said the GSIS had already made P139 million from its exposure to online gaming firm DigiPlus, while its P1.45-billion investment in Alternergy, a

Tabuena leads Philippine hunt of rich golf pot

CABUYAO, Laguna—Miguel Tabuena will lead a motley crew of Filipinos seeking the biggest ever cash prize to be won on a golf course when the International Series (IS) makes its first-ever Philippine stop at gorgeous Sta. Elena next month. A total of seven home bets will be part of the big field that will be

Gov’t budget shortfall hits two-month high

MANILA, Philippines — The government’s budget deficit widened to a two-month high in August, as revenues fell more sharply than expenditures, which slid to their lowest level in six months. The Marcos administration incurred a fiscal shortfall of P84.8 billion, 56 percent bigger compared with the level a year ago, the Bureau of the Treasury

BIZ BUZZ: Enough is enough: Biz leaders join street protests

MANILA, Philippines — You know it’s bad when even business leaders couldn’t help but join the parliament of the streets. Tens of thousands of Filipinos flooded Edsa and Luneta Park on Sept. 21, the 53rd anniversary of Martial Law, to express their rage against the corrupt politicians and contractors behind anomalous flood control projects. LOOK:

China’s Alibaba teams up with Nvidia on AI robot tech

BEIJING, China — Alibaba announced on Wednesday a “milestone collaboration” in artificial intelligence (AI) tech with US chip giant Nvidia that the Chinese company said will accelerate its development of humanoid robots. The news came as Alibaba’s shares soared more than 9 percent in Hong Kong after chief executive Eddie Wu unveiled plans to further ramp