imported>Zackmann08: removing deprecated parameters

2025-12-14T08:22:20Z

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{{Short description|Business newspaper in the Philippines}}
{{for|the unrelated Indian magazine|Businessworld}}
{{Use Philippine English|date=January 2023}}
{{Use mdy dates|date=November 2022}}
{{Infobox newspaper
| name = BusinessWorld
| logo = File:BusinessWorld logo.svg
| image = BusinessWorld, April 13, 2018 issue.jpg
| caption = The front page of ''BusinessWorld'' on April 13, 2018
| type = Daily [[newspaper]] (excluding weekends)
| format = [[Broadsheet]]
| owners = [[The Philippine Star|Philstar Daily Inc.]], (70%) World Press, Inc. (30%)
| founder = Raúl L. Locsin
| publisher = [https://www.linkedin.com/company/businessworldph BusinessWorld Publishing Corporation]
| president = Miguel G. Belmonte
| chief_editor = Cathy Rose A. Garcia
| associate_editor = Alicia A. Herrera Bettina Fay V. Roc Timothy Roy Medina Arjay L. Balinbin
| opinion_editor = Alicia A. Herrera
| founded = {{Start date and age|1967|2|27}} ({{Age in days|1967|2|27|format=commas}} issues)
| political_position = [[Centre politics|Centre]]
| language = [[English language in the Philippines|English]]
| headquarters = 95 Balete Drive Extension, Brgy. Kristong Hari, [[New Manila]], [[Quezon City]], [[Metro Manila]], [[Philippines]]
| circulation = 117,000
| circulation_date = March 31, 2014
| ISSN =
| website = {{URL|http://www.bworldonline.com/}}
| publishing_country = [[Philippines]]
| publishing_city = [[Metro Manila|Manila]]
}}

'''''BusinessWorld''''' is a business [[newspaper]] in the [[Philippines]] with a nationwide circulation of more than 117,000 (as of March 2014).<ref name="businessworldpublishingcorporation">{{cite web |author= |title=BusinessWorld Online Edition - Philippine Business News & Analysis: About BusinessWorld |url=http://www.bworldonline.com/assets/main.php?id=aboutus |url-status=dead |archive-url=https://web.archive.org/web/20141006115541/http://www.bworldonline.com/assets/main.php?id=aboutus |archive-date=October 6, 2014 |access-date=September 13, 2020 |work=BusinessWorld}}</ref> Founded in 1967 as ''Business Day'', it is [[Southeast Asia]]'s first daily business newspaper.<ref>{{cite web|url=https://www.bworldonline.com/company/history-and-staff/|title=History|author=Editorial Staff|publisher=BusinessWorld|access-date=June 26, 2019}}</ref>

==History==
[[File:BusinessWorld frontpage (1987).jpg|thumb|175px|left|Front page of ''BusinessWorld'', July 27, 1987]]
[[File:7730Balete Drive Quezon City Landmarks 33.jpg|right|thumb|The current headquarters of the ''BusinessWorld'' at [[Balete Drive]] Extension]]

===''Business Day'' (1967{{Endash}}1987)===
[[Raul L. Locsin]] became a business reporter for the ''[[Manila Chronicle]]'' in 1963. He helped establish the ''Economic Monitor'', the first business weekly in the Philippines. Then, he founded ''Business Day'', the first [[Southeast Asia|Southeast Asian]] business daily.<ref name=":2">{{Cite web |last=Lopez |first=Antonio |date=August 6, 1999 |title=Man of His Word: Raul Locsin |url=http://edition.cnn.com/ASIANOW/asiaweek/99/0806/sr5.html |archive-url=https://web.archive.org/web/20110129072949/http://edition.cnn.com/ASIANOW/asiaweek/99/0806/sr5.html |url-status=dead |archive-date=January 29, 2011 |access-date=June 4, 2024 |website=[[Asiaweek]]}}</ref>

In its debut issue, released on February 27, 1967, ''Business Day'' promised "competent and responsible reporting of the news."<ref>{{Cite web |title=History {{!}} Editorial Staff |url=https://www.bworldonline.com/history-and-staff/ |access-date=June 5, 2024 |website=BusinessWorld}}</ref> As [[editor-in-chief]], Locsin aimed to demystify business and economics and make the subject more accessible to the general public. During [[martial law under Ferdinand Marcos]] (1972{{Endash}}1981), ''Business Day'' was the only independently owned newspaper in [[Manila]]. It gained a reputation for accuracy in [[Journalism during the Marcos dictatorship|an era of misinformation]],<ref name=":1">{{Cite web |date=1999 |title=Locsin, Raul |url=https://www.rmaward.asia/awardee/locsin-raul |access-date=June 4, 2024 |website=[[Ramon Magsaysay Award Foundation]]}}</ref> as Locsin was committed to the tenet that "a newspaper is a [[public trust]]" and promised editorial freedom.<ref name=":2" /> ''Business Day'' ran articles critical of President Marcos.<ref>{{Cite web |last=Reed |first=Jack |date=February 3, 1984 |title=Business, labor leaders appeal to Marcos |url=https://www.upi.com/Archives/1984/02/03/Business-labor-leaders-appeal-to-Marcos/6442444632400/ |access-date=June 5, 2024 |website=[[United Press International]]}}</ref><ref>{{Cite web |date=March 20, 1986 |title=Marcos Called Golf Cheat |url=https://www.latimes.com/archives/la-xpm-1986-03-30-mn-1648-story.html |access-date=June 5, 2024 |website=[[Los Angeles Times]]}}</ref><ref>{{Cite web |last=Branigan |first=William |date=August 15, 1984 |title='Crony Capitalism' Blamed for Economic Crisis |url=https://www.washingtonpost.com/archive/politics/1984/08/16/crony-capitalism-blamed-for-economic-crisis/d99e8760-087d-4d25-ad66-3d324150dc4d/ |access-date=June 5, 2024 |website=[[The Washington Post]]}}</ref>

After a [[labor strike]] by [[leftist]] staff, Locsin resigned and closed ''Business Day'' in 1987. Four months prior, he had finished repaying the newspaper's accumulated debt. The majority of his former staff [[Picketing|picketed]] his house to convince him to return. They set up a new corporation, BusinessWorld Publishing Corporation, with Locsin accepting the position of publisher, president, and editor.<ref name=":2" /><ref name="Locsin">{{cite news |author=Santos |first=Vergel |date=May 26, 2003 |title=In memoriam: Producing a newspaper standing straight |url=https://ederic.net/raul-locsin-71/ |access-date=June 5, 2024 |newspaper=BusinessWorld}}</ref>

=== ''BusinessWorld'' (1987{{Endash}}2003) ===
The first issue of ''BusinessWorld'', the successor of ''Business Day'', was released on July 27, 1987.<ref name="www.officialgazette.gov.ph">{{cite web |title=Speech of President Aquino at the 25th anniversary of BusinessWorld, July 27, 2012 |url=https://www.officialgazette.gov.ph/2012/07/27/speech-of-president-aquino-at-the-25th-anniversary-of-businessworld-july-27-2012/ |url-status=live |archive-url=https://web.archive.org/web/20150924052734/http://www.gov.ph/2012/07/27/speech-of-president-aquino-at-the-25th-anniversary-of-businessworld-july-27-2012/ |archive-date=September 24, 2015 |work=www.gov.ph}}</ref> In the same year, ''BusinessWorld'' became the first among local dailies to use [[desktop publishing]], and in 1991 it incorporated World Press, Inc., a fully owned printing subsidiary of the firm located in [[Antipolo, Rizal]].

World Press, which started with a five-unit web offset printing press, already had nine units by 1995. In two years, it was able to own pre-press facilities that allowed for the Color Electronic [[Pagination|Pagination System]], which made ''BusinessWorld'' the country's first newspaper printed in full color.

Previously housed in [[Ortigas Center]], [[Pasig]], ''BusinessWorld'' moved to its current location in [[New Manila]], [[Quezon City]] in 1994. The building was designed by Locsin's cousin, the late [[National Artist of the Philippines|National Artist]] for Architecture [[Leandro V. Locsin]], who also worked on the [[Philippine Stock Exchange Plaza]] in [[Makati]].

When Locsin died in May 2003 after a long-term illness, his wife, executive editor and chief operating officer Leticia Locsin, took over as the paper's president, publisher, and chairperson until her death in August 2005. Their daughter, Barbara Locsin, headed the paper for a while, later succeeded by Anthony Cuaycong as chief operating officer.

===MVP Group acquisition===
In 2004, the [[Philippine Long Distance Telephone Company]] (PLDT), led by businessman [[Manuel V. Pangilinan]], acquired a minority stake in ''BusinessWorld'' through PLDT's Beneficial Trust Fund unit, [[MediaQuest Holdings, Inc.]]

In September 2013, MediaQuest assumed control of the paper, with its subsidiary Hastings Holdings Inc. increasing its stake from 30% to 76.67% and infusing [[Philippine pesos|₱]]100 million into the company over the next 12 months. [[Smart Communications|Smart Communications, Inc.]] co-founder and chief wireless advisor Orlando Vea was named acting president.<ref>{{cite web|url=http://www.bworldonline.com/content.php?section=TopStory&title=Mediaquest-assumes-control-of-BusinessWorld&id=76584|title=BusinessWorld - Mediaquest assumes control of BusinessWorld|date=September 18, 2013|work=BusinessWorld|access-date=September 13, 2020}}</ref> In March 2014, José Roberto "Roby" A. Alampay, head of Philippine [[news portal]] and PLDT subsidiary [[InterAksyon.com]] and a [[News5]] anchor, was appointed concurrent editor-in-chief of the newspaper.<ref name="businessworldpublishingcorporation" />

In July 2015, ''[[The Philippine Star]]'' acquired the entire 76.63% stake<ref>{{Cite web|url=http://www.bworldonline.com/content.php?section=TopStory&title=philstar-group-formalizes-ibusinessworldi-acquisition&id=111351|title=BusinessWorld {{!}} PhilStar group formalizes BusinessWorld acquisition|date=July 10, 2015|website=www.bworldonline.com|access-date=October 12, 2015}}</ref> of its sister broadsheet ''BusinessWorld'' from Hastings Holdings Inc., the subsidiary of ''The Star''{{'}}s parent, MediaQuest. ''The Philippine Star'' president Miguel G. Belmonte was named concurrent president of the broadsheet.<ref>{{cite web|url=http://www.interaksyon.com/business/113893/philstar-acquires-77-percent-of-businessworld|title=Philstar acquires 77-percent of BusinessWorld|date=July 9, 2015|access-date=July 10, 2015|archive-url=https://web.archive.org/web/20150710233311/http://www.interaksyon.com/business/113893/philstar-acquires-77-percent-of-businessworld|archive-date=July 10, 2015|url-status=dead}}</ref>

In January 2020, managing editor Wilfredo G. Reyes was appointed as the paper's new editor-in-chief replacing Alampay.<ref>{{cite web|url=https://www.bworldonline.com/company/history-and-staff/|title=History {{!}} Editorial Staff|website=BusinessWorld|access-date=September 13, 2020}}</ref>

==''BusinessWorld Live''==
In 2018, ''BusinessWorld'' became part of the [[One News (TV channel)|One News]] organization, a 24-hour [[English language|English-language]] news channel owned and operated by [[Cignal TV]], the cable TV business of the MVP Group's Mediaquest Holdings, Inc. The newspaper launched its own business news program, ''BusinessWorld Live'', in the channel. The one-hour program premiered on May 28, 2018, and airs every weekdays, 9:00 to 10:00 a.m. ([[Philippine Standard Time|PST]]). Due to [[COVID-19 pandemic]], ''BusinessWorld Live'' temporarily broadcasts from 10:30 AM to 11:00 AM. TV personalities Danie Laurel and JP Ong (replaced by Jes delos Santos in 2019) hosts the business news program.

==''BusinessWorld'' Economic Forum==
In 2016, ''BusinessWorld'' hosted the inaugural '''BusinessWorld Economic Forum''' at the [[Bonifacio Global City]] in [[Taguig]], Philippines with the theme "Charting Progress to 2020: What to Expect from the New Presidency". The annual business forum gathers some of the biggest names in Philippine and global business for a day of discussion sessions on different trends and events affecting the future of business, trade and economics.<ref name=BEF2016>{{cite web|url=https://www.philstar.com/business/2016/06/24/1596200/pangilinan-robredo-dominguez-lead-1st-businessworld-economic-forum|title=Pangilinan, Robredo, Dominguez to lead 1st BusinessWorld Economic Forum|date=June 24, 2016|publisher=The Philippine Star|access-date=September 13, 2020}}</ref><ref name=Dizon>{{cite web|url=https://www.bworldonline.com/senior-executives-reiterate-push-for-simpler-tax-systems-red-tape-reduction/|title=Senior executives reiterate push for simpler tax systems, red tape reduction|first=Erika Denise|last=Dizon|date=July 26, 2016|publisher=BusinessWorld|access-date=September 13, 2020}}</ref>

Since its inception, the forum has been held three times already, each with a different theme and set of speakers. In 2020, the event will be held online due to the [[COVID-19 pandemic in the Philippines]].<ref name=BEF2020>{{cite web|url=https://www.bworldonline.com/businessworld-virtual-economic-forum-2020/|title=BusinessWorld Virtual Economic Forum 2020|publisher=BusinessWorld|access-date=September 13, 2020}}</ref>

===Forum themes===
* '''2016''' - held on July 12, 2016, at the Shangri-La The Fort, Bonifacio Global City, Taguig, with the theme, "Charting Progress to 2020: What to Expect from the New Presidency".<ref name=BEF2016/><ref name=Dizon/>
* '''2017''' - held on May 19, 2017, at Shangri-La at The Fort in Bonifacio Global City, Taguig with the theme, "Fueling Philippine Economic Expansion Beyond 2017: The Engines of Growth".<ref>{{cite web|url=https://www.bworldonline.com/photos/businessworld-economic-forum-may-19-2017/|title=BusinessWorld Economic Forum – May 19, 2017|date=June 7, 2017|publisher=BusinessWorld|access-date=September 13, 2020}}</ref>
* '''2018''' - held on May 18, 2018, at the Grand Hyatt Manila in Bonifacio Global City, Taguig with the theme, "Disruptor or Disrupted? The Philippines at the Crossroads".<ref>{{cite web|url=https://www.bworldonline.com/businessworld-economic-forum-2018-tackles-realities-of-disruption/|title=BusinessWorld Economic Forum 2018 tackles realities of disruption|date=May 31, 2018|publisher=BusinessWorld|access-date=September 13, 2020}}</ref>
* '''2019''' - held on May 30, 2019, at the Grand Hyatt Manila in Bonifacio Global City, Taguig with the theme, "The Fu of Business: Next-wave Disruptions & Opportunities".<ref>{{cite web|url=https://www.bworldonline.com/businessworld-economic-forum-2019/|title=BusinessWorld Economic Forum 2019|publisher=BusinessWorld|access-date=September 13, 2020}}</ref>
* '''2020''' - to be held online from November 25 to 26, 2020 with the theme, "The Big Reshape: Towards a More Resilient, Sustainable and Inclusive Future".<ref name=BEF2020/>
* '''2021''' -
* '''2022''' -

== ''BusinessWorld Top 1000'' Corporations in the Philippines ==
Business World Magazine's annual ranking of the Philippines' largest corporations, ranked by revenue, is known as the BusinessWorld Top 1000 Corporations in the Philippines. The list provides detailed information about each company, such as after-tax profits, assets, investors and shareholders' assets, and market value. Public companies with their corporate offices and incorporation in the Philippines are included in the top 1000. [[Meralco]], [[Petron Corporation]], [[Toyota Motor Philippines]], [[Shell plc|Pilipinas Shell]], [[Texas Instruments|Texas Instruments Philippines]], [[Toshiba|Toshiba Information Equipment]], [[Philippine Airlines]], [[Mercury Drug]], [[BDO Unibank]], and [[Nestlé|Nestlé Philippines]] are among the Top 1000 Corporations in the Philippines.

According to the [[Philippine Star]], the BusinessWorld Top 1000 firms’ performance in 2016 is reflective of the overall economic performance that year with gross domestic product growth of 6.9 percent being the fastest in three years as well as the second fastest among its Asian neighbors.<ref name=Philstar>{{cite web|url=https://www.philstar.com/business/2018/01/12/1776793/top-1000-how-key-business-sectors-performed/|title=Top 1000: How key business sectors performed
|publisher=The Philippine Star|access-date=June 15, 2022}}</ref>

The Top 1000 list has become vital to the research on performance of Philippine companies and domestic economy that the Business Expectations Survey<ref name=BSP>{{cite web|url=https://www.bsp.gov.ph/SitePages/MediaAndResearch/Business%20Expectations%20Report.aspx|title=Publications - Business Expectations Survey|publisher=Bangko Sentral ng Pilipinas|access-date=June 15, 2022}}</ref> that is released on a quarterly basis by the [[Bangko Sentral ng Pilipinas]] is drawn from a pool of the Securities and Exchange Commission’s Top 7,000 Corporations in 2010, and Business World’s Top 1,000 Corporations in 2013.
<ref name=ASEANBriefing>{{cite web|url=https://www.aseanbriefing.com/news/recent-study-reveals-investor-confidence-over-philippines-business-horizon/ |title=Recent Study Reveals Investor Confidence over Philippines' Business Horizon|publisher=ASEAN Briefing|access-date=June 15, 2022}}</ref>

Additionally, the Conduct of the Corporate Financial Trends Survey (CFTS) by the Philippine Financial Stability Coordination Council (FSCC) also selected sample establishments/enterprises from the list of Top 1,000 Corporations released by the BusinessWorld. The FSCC consists of Bangko Sentral ng Pilipinas (BSP), Department of Finance (DOF), Insurance Commission (IC), Philippine Deposit Insurance Corporation (PDIC), and Securities and Exchange Commission (SEC).<ref name=PSA>{{cite web|url=https://psa.gov.ph/press-releases/id/129234 |title=PSA Grants Clearance to the Conduct of the Corporate Financial Trends Survey (CFTS)|publisher=PSA|access-date=June 23, 2022}}</ref>

A study published in [[DLSU]] Business & Economics Review evaluated the Web presence of the top multinational manufacturing corporations in the Philippines from a sample of 70 Web sites of companies in BusinessWorld’s list of the Top 1000 Corporations in the Philippines for 2006. The websites were subjected to a framework of ten critical factors; and comparisons were made against existing benchmarks. Thereafter, the functionality of the Web sites of the three top-ranked companies was analyzed using a two-dimensional grid for Web site evaluation. Results indicate that there is a need for improvement in the design and quality of the Web sites of manufacturing firms in the Philippines.<ref name=DLSU>{{cite web|url=https://ejournals.ph/article.php?id=6377 |title=Benchmarking the Home Pages of the Top Multinational Manufacturing Corporations in the Philippines|publisher=DLSU|access-date=June 23, 2022}}</ref>

About one-third of the large establishments make it to the list of the Philippines’ Top 1000 Corporations, which is published annually by BusinessWorld and its
predecessor, Business Day, in cooperation with the Securities and Exchange Commission (SEC). From 1970 to 2009, industrial sector has consistently dominated
the list of Top 1000 corporations.<ref>{{cite web|url=https://www.research.kobe-u.ac.jp/gsics-publication/jics/batalla_20-1.pdf |title=Continuity and Change in the Philippine Business Landscape|publisher=Kobe University|access-date=June 23, 2022}}</ref>

During pandemic, the drop in gross income mirrored a drop in economic output following the outbreak of the coronavirus disease 2019 (COVID-19) pandemic. In actual terms, the Philippine economy fell by 9.6% in 2020 (-8.1 percent in current prices), the lowest result since the 1940s. Manila Electric Co. (Meralco) took the top rank in this year's edition with gross revenues of P266.055 billion, down 13.9 percent from P309.090 billion the previous year. San Miguel Corp. and SM Investments Corp.'s combined business units came in second and third, with gross earnings of P773.569 billion (-27.6%) and P396.751 billion (-21.7%), respectively. 370 international corporations made the list, accounting for 37.1 percent of the top 1000's total gross revenue this year. Its total revenue<ref>{{Cite web |last=Tirona |first=Ana Olivia |date=May 17, 2020 |title=Coronavirus pandemic slams revenues of Philippines' top 1000 firms |url=https://manilanews.ph/coronavirus-pandemic-slams-revenues-of-philippines-top-1000-firms/ }}</ref>

BusinessWorld researchers use a "tickmarking" guide in their methodology for the Top 1000 publication, which is a way for them to identify items considered as the net sales, cost of sales, debt, or inventory in the financial statements since such items would depend on the industry where companies belong.<ref>{{Cite web |last=Ignacio |first=Chelsey Keith |date=September 6, 2021 |title=An in-depth publication of financial information
|website=BusinessWorld |url=https://www.bworldonline.com/special-reports/2021/09/06/393806/an-in-depth-publication-of-financial-information/ }}</ref>

==References==
{{Reflist}}

==External links==
*[http://philippines.mom-rsf.org/en/media/print/ Media Ownership Monitor Philippines - Print] by VERA Files and [[Reporters Without Borders]]

{{PLDT |state=collapsed}}
{{Metro Manila Newspapers}}

[[Category:National newspapers published in the Philippines]]
[[Category:Newspapers published in Metro Manila]]
[[Category:Companies based in Quezon City]]
[[Category:MediaQuest Holdings]]
[[Category:Daily newspapers published in the Philippines]]
[[Category:Business newspapers]]

BusinessWorld - Revision history

imported>Zackmann08: removing deprecated parameters