BusinessWorld

BusinessWorld is a business newspaper in the Philippines with a nationwide circulation of more than 117,000 (as of March 2014).[1] Founded in 1967 as Business Day, it is Southeast Asia's first daily business newspaper.[2]

BusinessWorld
LOGO2014only - CopperBW.svg
BusinessWorld, April 13, 2018 issue.jpg
The front page of BusinessWorld on
April 13, 2018
TypeDaily newspaper (excluding weekends)
FormatBroadsheet
Owner(s)Philstar Daily Inc., (70%)
World Press, Inc.(30%)
Founder(s)Raúl L. Locsin†
PublisherBusinessWorld Publishing Corporation
PresidentMiguel G. Belmonte
Editor-in-chiefWilfredo G. Reyes
Associate editorAlicia A. Herrera
Bettina Fay Roc
Timothy Roy Medina
Managing editorCathy Rose A. Garcia
Director of InteractiveSam L. Marcelo (Multimedia Head)
Sports editorFrancisco P. Baltazar
FoundedFebruary 27, 1967; 53 years ago (1967-02-27)
Political alignmentIndependent
LanguageEnglish
Headquarters95 Balete Drive Extension,
Brgy. Kristong Hari, New Manila,
Quezon City, Metro Manila,
Philippines
CityManila
CountryPhilippines
Circulation117,000 (as of March 31, 2014)
Websitewww.bworldonline.com

HistoryEdit

 
Front page of BusinessWorld, 27 July 1987
 
The current headquarters of the BusinessWorld at Balete Drive Extension

Business DayEdit

Raúl Locsin, then a reporter for the business section of the now-defunct The Manila Chronicle, took out a 5,000 loan to start Business Day, the paper's forerunner.[1]

Business Day released its debut issue on 27 February 1967. It was the first business daily in Southeast Asia, and it was dedicated to “competent and responsible reporting of the news.”[3]

On 1 March 1971, Business Day published a record of the previous year’s highest-grossing Philippine firms. Eight years later, the Securities and Exchange Commission and Business Day launched 1000 Top Corporations in the Philippines gazette. This effort laid the foundation for what is now known as BusinessWorld Top 1000 Corporations in the Philippines, an annual magazine that provides readers with corporate financial data.

Business Day survived the martial law period,[4] partly due to President Ferdinand Marcos allowing the paper to run because it did not cover politics, a move calculated to give a veneer of press freedom to his authoritarian regime.[3]

After the 1986 People Power Revolution, the paper eventually closed on 5 June 1987, due to a labour strike. Employees who did not join the strike, quickly regrouped with Locsin, to set up the current BusinessWorld Publishing Corporation.

BusinessWorldEdit

The first copy of BusinessWorld was sold on 27 July 1987.[4] 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 System, which made BusinessWorld the country’s first newspaper printed in full color.

Previously housed in Ortigas Center, Pasig City, 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 for Architecture Leandro V. Locsin, who also worked on the Philippine Stock Exchange Plaza in Makati City.

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 acquisitionEdit

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 100 million into the company over the next 12 months. Smart Communications, Inc. co-founder and chief wireless advisor Orlando Vea was named acting president.[5] 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.[1]

In July 2015, The Philippine Star acquired the entire 76.63% stake[6] 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.[7]

In January 2020, managing editor Wilfredo G. Reyes was appointed as the paper's new editor-in-chief replacing Alampay.[8]

BusinessWorld LiveEdit

In 2018, BusinessWorld became part of the One News organization, a 24-hour 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 is 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. (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 ForumEdit

In 2016, BusinessWorld hosted the inaugural BusinessWorld Economic Forum at the Bonifacio Global City in Taguig City, 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.[9][10]

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.[11]

Forum themesEdit

  • 2016 - held on 12 July 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".[9][10]
  • 2017 - held on 19 May 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".[12]
  • 2018 - held on 18 May 2018 at the Grand Hyatt Manila in Bonifacio Global City, Taguig with the theme, "Disruptor or Disrupted? The Philippines at the Crossroads".[13]
  • 2019 - held on 30 May 2019 at the Grand Hyatt Manila in Bonifacio Global City, Taguig with the theme, "The Fu of Business: Next-wave Disruptions & Opportunities".[14]
  • 2020 - to be held online from 25-26 November 2020 with the theme, "The Big Reshape: Towards a More Resilient, Sustainable and Inclusive Future".[11]

ReferencesEdit

  1. ^ a b c BusinessWorld Publishing Corporation. "BusinessWorld Online Edition - Philippine Business News & Analysis: About BusinessWorld". BusinessWorld. Archived from the original on 2014-10-06. Retrieved 13 September 2020.
  2. ^ Editorial Staff. "History". BusinessWorld. Retrieved 26 June 2019.
  3. ^ a b Santos, Vergel (26 May 2003). "In memoriam: Producing a newspaper standing straight". BusinessWorld.
  4. ^ a b "Speech of President Aquino at the 25th anniversary of BusinessWorld, July 27, 2012". www.gov.ph. Archived from the original on September 24, 2015.
  5. ^ "BusinessWorld - Mediaquest assumes control of BusinessWorld". BusinessWorld. September 18, 2013. Retrieved 13 September 2020.
  6. ^ "BusinessWorld | PhilStar group formalizes BusinessWorld acquisition". www.bworldonline.com. July 10, 2015. Retrieved 2015-10-12.
  7. ^ "Philstar acquires 77-percent of BusinessWorld". July 9, 2015. Archived from the original on July 10, 2015. Retrieved July 10, 2015.
  8. ^ "History | Editorial Staff". BusinessWorld. Retrieved 13 September 2020.
  9. ^ a b "Pangilinan, Robredo, Dominguez to lead 1st BusinessWorld Economic Forum". The Philippine Star. 24 June 2016. Retrieved 13 September 2020.
  10. ^ a b Dizon, Erika Denise (26 July 2016). "Senior executives reiterate push for simpler tax systems, red tape reduction". BusinessWorld. Retrieved 13 September 2020.
  11. ^ a b "BusinessWorld Virtual Economic Forum 2020". BusinessWorld. Retrieved 13 September 2020.
  12. ^ "BusinessWorld Economic Forum – May 19, 2017". BusinessWorld. 7 June 2017. Retrieved 13 September 2020.
  13. ^ "BusinessWorld Economic Forum 2018 tackles realities of disruption". BusinessWorld. May 31, 2018. Retrieved 13 September 2020.
  14. ^ "BusinessWorld Economic Forum 2019". BusinessWorld. Retrieved 13 September 2020.

External linksEdit