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BUSINESSJun 17AO World boss blames Labour job tax hike for move to offshore jobs overseasThe head of AO World attributes the decision to move jobs overseas to a Labour job tax hike. This illustrates how economic policies can influence business outsourcing.lbc.co.uk · United Kingdom
BUSINESSJun 17DOTr bets on ADB, World Bank backing to draw investors into rail PPPsSINGAPORE — The Department of Transportation (DOTr) is confident that more private-sector bidders will participate in the Philippines’ upcoming railway public-private partnership (PPP) projects as the government increasingly taps multilateral development banks (MDBs) to provide financing support and risk-mitigation mechanisms aimed at improving project bankability. Speaking at the Asia Infrastructure Forum (AIF) 2026 last Tuesday, June 16, DOTr Undersecretary for railways Timothy John R. Batan said MDB-backed guarantees as well as concessional financing facilities from the Manila-based Asian Development Bank (ADB) and the Washington-based World Bank are expected to make big-ticket Philippine railway projects more attractive to investors. The government is currently marketing three railway PPP projects to investors: Metro Rail Transit Line 3 (MRT-3) capacity expansion and operations and maintenance (O&M), Light Rail Transit Line 2 (LRT-2) rehabilitation and O&M, as well as Metro Manila Subway Project (MMSP) O&M concession. These three projects are all scheduled to launch solicited tender in the third quarter of this year, with evaluation and award targeted next year before being turned over to their respective private concessionaires. Batan said the use of MDB-backed financial instruments was driven by feedback received during market-sounding activities with prospective investors. “It’s a response to the market,” Batan told reporters on the sidelines of AIF 2026. “When we do our market sounding, we explain to them our project structure. Then, based on our project structure, they give us inputs on what will make the project bankable, what are the things that they need,” he explained. According to Batan, the government has been working with multilateral as well as bilateral development partners to align capital-intensive railway projects with international standards for project preparation, risk sharing, and financing, recognizing that proper structuring is critical for multibillion-peso infrastructure investments. Batan confirmed, in response to Manila Bulletin ’ s query, that MDB-backed guarantees and financing facilities are being introduced into Philippine railway PPP projects for the first time. “There are financial instruments available from the development partners—from the ADB, the World Bank, JICA [Japan International Cooperation Agency]—which, if we use them, enable us to better attract private-sector capital,” he said. The DOTr official cited strong interest in the North-South Commuter Railway (NSCR) O&M PPP, which has attracted participation from major international railway operators and infrastructure firms, including Japan’s JR East and JR West, Paris Metro operator RATP Dev, French transport operators Keolis and Transdev, as well as local firms San Miguel Corp. (SMC), Ayala Corp., and First Balfour. “If you see that level of participation, then we probably are on the right track,” Batan said. NSCR is a 147-kilometer (km) railway that will connect Clark International Airport in Pampanga province and New Clark City in Tarlac province with Metro Manila as well as Calamba City in Laguna province. To recall, Manila Bulletin reported last March that the Philippines is seeking up to $800 million in ADB-backed partial credit guarantees (PCGs) for the NSCR O&M concession. The proposed facility would serve as a liquidity backstop for availability payments owed by the government to the future operator under the project’s PPP structure. According to the ADB, the guarantee is intended to address market concerns over delayed or missed government payments and help attract greater participation from leading railway operators worldwide. One of the newest tools being considered is a Step-Up Loan (SUL) facility from the International Bank for Reconstruction and Development (IBRD), the World Bank Group’s (WBG) lending arm for developing countries like the Philippines. Under the proposed LRT-2 rehabilitation and O&M PPP, a potential concessionaire may access up to $300 million in optional concessional financing through IBRD ’s SUL, according to the presentation of International Finance Corp. (IFC), the project’s transaction adviser. IFC is the WBG ’s private-sector lending arm. The ₱41.9-billion project involves a 30-year concession. It aims to raise average daily ridership on the more-than-two-decade-old LRT-2 to 219,142 by 2031 and 452,000 by 2056. According to the World Bank, its SUL facility provides lower financing costs during a project’s higher-risk implementation phase before transitioning to regular pricing later in the loan term. This instrument is designed to support refinancing through private capital markets while lowering upfront borrowing costs for eligible infrastructure projects. Batan clarified that SUL use would remain at the discretion of bidders. “Each bidder will put together their own financing mix. If they think they can give a better bid, a lower price by using the SUL, then they will include that in their proposals,” the DOTr official explained. He added that the World Bank has already expressed willingness to extend the SUL facility for the LRT-2 PPP, subject to the necessary approvals and the outcome of ongoing market-sounding activities. Meanwhile, Batan said the Metro Rail Transit Line 4 (MRT-4) is undergoing recalibration, although he declined to disclose details amid ongoing interagency discussions. The ADB and the China-backed Asian Infrastructure Investment Bank (AIIB) have been eyeing to co-finance MRT-4, which would connect eastern Metro Manila with the rapidly growing communities of Rizal province. Manila Bulletin reported earlier that the DOTr is pursuing a transit-oriented development (TOD) framework for MRT-4 as part of efforts to enhance the project’s investment appeal. Under the proposed TOD framework, five of MRT-4’s planned 10 stations—EDSA, Tiendesitas, St. Joseph, Tikling Junction, and Taytay—would be integrated with mixed-use developments, commuter-oriented facilities, as well as links to other public transport systems. According to the DOTr, the scheme would open opportunities for commercial and residential developments around the stations, including potential PPPs, allowing affected landowners as well as businesses to participate in and benefit from the economic activity generated by the railway. The TOD model represents another example of how the government is incorporating investment and financing mechanisms into major rail projects to attract private-sector participation as well as improve long-term project viability. Batan said the government’s push to attract more private capital into railway projects is part of a broader effort to address the country’s transport infrastructure gap and improve daily commuting conditions for millions of Filipinos. The DOTr official noted that the Philippines currently has just 61 km of operational urban rail lines, but ongoing projects are expected to expand the network to 286 km by 2030. Daily ridership is projected to increase from about 930,000 passengers at present to almost 2.8 million by 2035. He also cited estimates showing that Metro Manila traffic congestion costs the Philippine economy about $22 billion annually, underscoring the need to accelerate the rollout of mass transit infrastructure. “At the end of the day, our goal is quite simple — that is to give back time, precious time to our people,” Batan said. “If we can give back to millions of Filipinos even one or two hours of their day, the impact on their lives and the economy will be enormous.”mb · philippines
BUSINESSJun 17Britain next generation of businesses expands worldwide - London Business NewsThe next generation of British businesses is reportedly experiencing global expansion, according to a London-based business news outlet.londonlovesbusiness.com · United Kingdom
BUSINESSJun 17AO World offshores sales and customer contact roles in face of soaring wage billAO World is moving its sales and customer contact roles offshore due to rising wage costs. This strategic business decision aims to manage expenses.westerntelegraph.co.uk · United Kingdom
BUSINESSJun 17AO World offshores sales and customer contact roles in face of soaring wage billAO World is moving its sales and customer contact roles offshore in response to rising wage costs. This strategic business decision aims to manage the company's expenses.thetelegraphandargus.co.uk · United Kingdom
BUSINESSJun 17AO World offshores sales and customer contact roles in face of soaring wage billAO World is transferring its sales and customer contact roles to offshore locations due to increasing wage costs. This strategic business decision aims to manage operational expenses.leaderlive.co.uk · United Kingdom
BUSINESSJun 17Japanese firms no longer booking World Cup sponsorships | The Asahi Shimbun : Breaking News , Japan News and AnalysisJapanese companies are reportedly ceasing to book sponsorships for the World Cup. This indicates a shift in corporate engagement with the major international sports event.asahi.com · Japan
BUSINESSJun 172026 FIFA World Cup Could Add Billions to Britain Economy Unless England Keeps WinningThe 2026 FIFA World Cup is projected to significantly boost Britain's economy, with potential impacts linked to England's performance. This article discusses the economic implications of a major sporting event.ibtimes.co.uk · United Kingdom
BUSINESSJun 17The Worldfolio : Tokyo Metro Expands Beyond Railways Through Smart City Infrastructure , Urban Development and Global Operations ExpertiseTokyo Metro is expanding its operations beyond railways into smart city infrastructure, urban development, and global operations, demonstrating business growth and diversification.theworldfolio.com · Japan
BUSINESSJun 17The World Cup and the Black MarketThe article discusses the connection between the World Cup and the black market. This sheds light on illicit economic activities associated with major sporting events.aldianews.com · United States
BUSINESSJun 16Musk’s SpaceX overtakes Amazon to become world’s fifth most valuable firmNEW YORK - Elon Musk’s SpaceX has overtaken Amazon to become the world’s fifth most valuable company after a surge in its share price.nation_pk · pakistan
BUSINESSJun 16Angel Yeast Chairman Reflects on 40 Years of Bringing Yeast to Millions of Households WorldwideExclusive interview highlights advances in yeast protein and yeast extracts, global expansion, sustainability, and future growth drivers SHANGHAI , June 16, 2026 /PRNewswire/ -- Angel Yeast (SSE: 600298), a global yeast and biotech company, was interviewed by Food Ingredients , a leading international trade publication, in celebration of its 40th anniversary. Chairman Xiong Tao reviewed the company's 40-year development journey during the exclusive interview, shared perspectives on recent developments in yeast extracts and yeast protein, and discussed the company's global expansion, sustainability initiatives, and key growth drivers. Xiong Tao, Chairman of Angel Yeast Over the past 40 years, Angel Yeast has helped make yeast products more widely available to consumers around the world through large-scale production and continuous innovation. This has not only modernized traditional fermentation processes but also made home baking easier and more accessible. The company has also expanded its expertise in yeast-derived ingredients, ranging from savory yeast extracts to yeast protein for nutrition applications. In yeast extracts, Angel Yeast applies biotechnology to help food manufacturers meet consumer demand for products that balance taste and nutrition. In yeast protein, its Angeopro product contains more than 80% protein and is widely recognized as a high-quality protein source. "Yeast protein is becoming a new fermented protein source for the nutrition industry. It is moving toward large-scale application, expanding from traditional sectors such as baking, meat products, and dairy to emerging areas such as sports nutrition, foods for special medical purposes, and vegan foods. In the future, it is expected to see wider use around the world, and we are committed to making quality protein accessible and affordable for everyone," said Xiong Tao, Chairman of Angel Yeast. Green Development: Circular Economy and ESG Practices In 2025, Angel Yeast earned an EcoVadis Silver rating, placing the company among the top 15% of assessed organizations globally. The company has developed a circular production model in which agricultural raw materials are transformed into food ingredients, while production byproducts are returned to agriculture through value-added applications. At the same time, Angel Yeast has introduced renewable energy sources such as solar power and biomass, and established a full-life-cycle carbon footprint management system to ensure low-carbon production processes. Global Expansion: Strengthening Local Presence and Customer Support In an increasingly complex global business environment, Angel Yeast remains focused on providing reliable products and services to customers worldwide. To enhance responsiveness to the European market, the company has established an R&D center in Belgium to support the development of products tailored to local preferences. It is also building a new manufacturing facility in Indonesia to better serve customers across South Asia and other international markets. "In the future, we will continue our overseas development philosophy of 'localizing for the local market,' bringing our supply chain closer to customers while also creating local jobs and supporting technological upgrading and industrial development," said Xiong Tao, Chairman of Angel Yeast. Innovation as a Key Growth Driver Across the yeast industry—from yeast extracts as natural flavoring solutions and yeast protein as a novel protein source to culture media for biopharmaceutical applications—significant opportunities for innovation remain. "Innovation has always been at the heart of Angel Yeast's growth. As we look ahead, we will continue to strengthen our global manufacturing and R&D network, deepen our understanding of local markets, and invest in the capabilities needed to serve customers around the world. At the same time, we remain committed to attracting, developing, and retaining talented people, recognizing that their expertise and creativity are essential to the company's long-term success," said Xiong Tao, Chairman of Angel Yeast.en_prnasisa · united arab emirates
BUSINESSJun 16Use BetMGM bonus code CBSSPORTS to get $1,500 in bonus bets for Argentina-Algeria, 2026 World Cup on TuesdayUse the latest BetMGM promo code CBSSPORTS to get $1,500 in bonus bets if your first bet loses for Argentina vs. Algeria, 2026 World Cup betting on Tuesdaycbssports · united states of america
BUSINESSJun 16Agthia Launches "FUELL" - World's First Energy Drink Sweetened with DatesABU DHABI, UAE, June 16, 2026 /PRNewswire/ -- Agthia Group PJSC, the region's leading food and beverage company, today announced the launch of Fuell, the world's first energy drink sweetened with dates, bringing a distinctly Emirati perspective to the global energy drink category. Fuell...cision · united states of america
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