Blackstone Executive Vice Chairman Tony James says he's less optimistic now than before that the U.S.-China trade war could be resolved, but even a smaller deal could help...World Economyread more
The massive market transformation this month that some on Wall Street called a "once in a decade opportunity" might have just been a one-off technical move because of taxes.Marketsread more
The Pentagon will deploy U.S. forces to the Middle East on the heels of the attack on Saudi Arabian oil facilities, United States Secretary of Defense Mark Esper announced...Defenseread more
CNBC did a deep dive through the most recent Wall Street research to find stocks that analysts say are underappreciated.Marketsread more
Shares of MasterCard are up 46% this year, and 1120% since 2011, getting a boost from the strong U.S. consumer.Investingread more
CNBC sat in on an "empathy training" at Amazon PillPack's Somerville offices, which is part of new hire orientation.Technologyread more
Trade with China is the 'big unknown' for the Federal Reserve as it decides how best to support the U.S. economy, says Council on Foreign Relations Director of International...Futures Nowread more
Lobbying experts said the visit is likely an attempt to be in lawmakers' ears as they consider legislation that would impact Facebook.Technologyread more
Yardeni Research's Edward Yardeni believes the U.S. economy is picking up steam.Trading Nationread more
Iran's audacious drone and cruise missile attack on Saudi Arabia's oil producing facilities has provided a critical test yet for the Trump administration's foreign policy. A...Politicsread more
Philippine President Rodrigo Duterte appears committed to improving the country's infrastructure as part of economic reform plans, and that could bring about huge opportunities for businesses, Jaime Augusto Zobel de Ayala, chairman and CEO of Ayala Corporation, told CNBC.
"They really feel very keenly about making a major contribution in that sector and they're allocating budgets accordingly to be able to push that," Zobel de Ayala said of the Duterte administration.
"That's manna from heaven," he added.
Infrastructure in the Philippines is lagging consumer demand, the CEO said, adding that the building campaign was a timely move considering the low interest rates and apparently stable macroeconomic environment.
Duterte has said that he is planning a $180 billion "Build, Build, Build" infrastructure campaign. Already, the controversial leader has agreed to 21 projects worth $16 billion, which include a revamp of Manila's airport and other improvement operations on railways, ports and roads, Reuters reported.
And despite the concerns some have expressed over the threat of disruptive technologies to industries, Zobel de Ayala expressed confidence. In fact, attaching to those areas comprises a key strategy of the business, he said.
"In the real estate market, we have a big retail portfolio and a lot of front-end retail shops. There's no doubt e-commerce and industries supporting that will begin to change the way that sector works," the CEO said.
However, he said his company is looking to participate in the e-commerce sector, so it has begun to buy assets in that field.
Ayala is now buying into the financial technology and payments spaces, according to the CEO. Given the shift toward electric vehicles, the business is also investing in automobile-related assets, he added.
With a market cap of about 575 billion Philippine pesos (approximately $11.2 billion), Ayala is the country's largest and oldest conglomerate. The firm has outperformed benchmarks this year, with shares up more than 9 percent in the last 12 months.