BusinessWorld facts for kids
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The front page of BusinessWorld on
April 13, 2018 |
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| Type | Daily newspaper (excluding weekends) |
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| Format | Broadsheet |
| Owner(s) | Philstar Daily Inc., (70%) World Press, Inc.(30%) |
| Founder(s) | Raúl L. Locsin† |
| Publisher | BusinessWorld Publishing Corporation |
| Founded | February 27, 1967 (21,303 issues) |
| Political alignment | Centre |
| Language | English |
| Headquarters | 95 Balete Drive Extension, Brgy. Kristong Hari, New Manila, Quezon City, Metro Manila, Philippines |
| City | Manila |
| Country | Philippines |
| Circulation | 117,000 (as of March 31, 2014) |
BusinessWorld is a newspaper in the Philippines that focuses on business news. It is read by many people across the country. It started in 1967 as Business Day. It was the first daily business newspaper in Southeast Asia.
Contents
History of BusinessWorld
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Starting as Business Day
A reporter named Raúl Locsin wanted to start a new newspaper. He used a loan of ₱5,000 to create Business Day. This was the first version of BusinessWorld.
The very first issue of Business Day came out on February 27, 1967. It was the first newspaper in Southeast Asia to focus only on business news every day. Its goal was to report news in a good and responsible way.
In 1971, Business Day shared a list of the top companies in the Philippines from the year before. Later, in 1979, Business Day worked with the Securities and Exchange Commission to publish a special book. This book was called 1000 Top Corporations in the Philippines. This book helped create what is now the BusinessWorld Top 1000 Corporations in the Philippines. It is an annual magazine that gives readers financial information about big companies.
Business Day continued to publish even during a time called martial law. The president at that time, Ferdinand Marcos, allowed the paper to continue. This was because it did not cover political news. This made it seem like there was still some press freedom during his rule.
After the 1986 People Power Revolution, Business Day closed on June 5, 1987. This happened because of a worker strike. However, many employees who did not join the strike quickly teamed up with Raúl Locsin. They decided to start a new company called BusinessWorld Publishing Corporation.
Becoming BusinessWorld
The first issue of BusinessWorld was released on July 27, 1987. In the same year, BusinessWorld was the first local newspaper to use desktop publishing. This meant they used computers to design and print the paper. In 1991, they started their own printing company called World Press, Inc. It was located in Antipolo, Rizal.
World Press started with a printing machine that had five units. By 1995, it had nine units. Two years later, they had special equipment that allowed them to print the newspaper in full color. This made BusinessWorld the first newspaper in the country to be printed completely in color.
BusinessWorld used to be in Ortigas Center, Pasig. But in 1994, it moved to its current home in New Manila, Quezon City. The building was designed by Raúl Locsin's cousin, Leandro V. Locsin. He was a famous architect in the Philippines.
Raúl Locsin passed away in May 2003. His wife, Leticia Locsin, then became the head of the newspaper. After she passed away in August 2005, their daughter, Barbara Locsin, led the paper for a short time. Later, Anthony Cuaycong took over as chief operating officer.
New Owners for BusinessWorld
In 2004, a company called Philippine Long Distance Telephone Company (PLDT) bought a small part of BusinessWorld. This company is led by businessman Manuel V. Pangilinan. In September 2013, PLDT's group, MediaQuest, took more control of the newspaper. Their company, Hastings Holdings Inc., increased its share to 76.67%. They also invested ₱100 million into the company.
In July 2015, The Philippine Star newspaper bought all of the shares that Hastings Holdings Inc. owned in BusinessWorld. This meant The Philippine Star became the main owner. The president of The Philippine Star, Miguel G. Belmonte, also became the president of BusinessWorld.
In January 2020, Wilfredo G. Reyes became the new editor-in-chief of the paper. He replaced José Roberto "Roby" A. Alampay.
BusinessWorld Live TV Show
In 2018, BusinessWorld became part of One News. This is an English-language news channel owned by the MVP Group. The newspaper started its own business news TV show called BusinessWorld Live.
The one-hour show first aired on May 28, 2018. It is shown every weekday morning. Because of the COVID-19 pandemic, the show's schedule changed for a while. TV hosts Danie Laurel and JP Ong (later Jes delos Santos) host the program.
BusinessWorld Economic Forum
In 2016, BusinessWorld held its first BusinessWorld Economic Forum in Taguig, Philippines. This event brings together important people from Philippine and global business. They discuss new ideas and events that affect the future of business and trade.
The forum has been held several times with different themes. In 2020, the event was held online because of the COVID-19 pandemic in the Philippines.
Forum Themes
- 2016 - "Charting Progress to 2020: What to Expect from the New Presidency".
- 2017 - "Fueling Philippine Economic Expansion Beyond 2017: The Engines of Growth".
- 2018 - "Disruptor or Disrupted? The Philippines at the Crossroads".
- 2019 - "The Fu of Business: Next-wave Disruptions & Opportunities".
- 2020 - "The Big Reshape: Towards a More Resilient, Sustainable and Inclusive Future". This was held online.
BusinessWorld Top 1000 Corporations in the Philippines
The BusinessWorld Top 1000 Corporations in the Philippines is a yearly list. It ranks the biggest companies in the Philippines based on how much money they earn. The list gives details about each company, like their profits, assets, and market value. It includes public companies that have their main offices in the Philippines.
Some well-known companies on the list include Meralco, Petron Corporation, Toyota Motor Philippines, Pilipinas Shell, and Nestlé Philippines.
The performance of the Top 1000 companies in 2016 showed how well the country's economy was doing. The economy grew by 6.9 percent that year, which was very fast.
This Top 1000 list is very important for studying how Philippine companies and the economy are doing. For example, the Bangko Sentral ng Pilipinas (the central bank) uses this list for its quarterly Business Expectations Survey. Other financial groups also use it to study company trends.
A study looked at the websites of top manufacturing companies in the Philippines. It used a sample of companies from the BusinessWorld Top 1000 list from 2006. The study found that these company websites needed to improve their design and quality.
About one-third of large businesses make it onto this list. It is published every year by BusinessWorld and its earlier version, Business Day. From 1970 to 2009, companies in the industrial sector (like factories) were always the most common on the Top 1000 list.
During the COVID-19 pandemic, many companies earned less money. This showed how the economy slowed down. In 2020, the Philippine economy dropped by 9.6%. This was the lowest it had been since the 1940s. Manila Electric Co. (Meralco) was number one on the list that year. San Miguel Corp. and SM Investments Corp. were also high on the list. Many international companies were also included.
BusinessWorld researchers use a special method to create the Top 1000 list. They have a guide to help them identify things like sales, costs, and debt in a company's financial reports. This helps them understand the numbers correctly for each type of industry.
