MANILA, Dec. 3 (PNA) — Listed Yuchengco-led Rizal Commercial Banking Corp. (RCBC) started issuing on Wednesday its long-term negotiable certificates of deposits (LTNCDs) to raise Php2 billion initially. The LTNCDs, which have…
Category: Business & Economy
Aboitiz gears up for Asean economic integration
CEBU CITY, Dec. 3 (PNA) — Aboitiz Equity Ventures (AEV) is gearing up for the Association of Southeast Asian (Asean) nations economic integration, an official said. “We are pursuing exciting opportunities leading…
Amendment to banks’ credit, risk-taking rules not to result in excessive property price hikes
By Joann Santiago MANILA, Dec 3 (PNA) — Affordability of housing units in the Philippines is not expected to rise vis-à-vis the amendments on banks’ credit-risk taking. Philippine Savings Bank (PSBank) President…
Mobile content provider Xurpas gears up for regional expansion
By Leslie D. Venzon MANILA, Dec. 2 (PNA) — Xurpas Inc., a consumer technology firm that listed on the local bourse on Tuesday, is in talks with several telecommunication operators and other…
BPI Globe BanKO cited for its mobile financial services
By Azer N. Parrocha MANILA, Dec. 2 (PNA) –Two international aid organizations recognized BPI Globe BanKO, the country’s first mobile-based savings bank, for its mobile financial services. In a statement sent Tuesday,…
Smart posts record 69.2% growth in mobile data revenues
By Azer N. Parrocha MANILA, Dec. 2 (PNA) — Telecommunications giant Smart Communications Inc. (Smart) announced on Tuesday that it posted a 69.2 percent surge in mobile data revenues for the first…
Nissin Foods of Japan raises stake in noodle joint venture with URC
By Leslie D. Venzon MANILA, Dec. 2 (PNA) — Nissin Foods Holdings, Co., Ltd. of Japan is increasing its stake in a subsidiary of Universal Robina Corp. (URC) that makes and sells…
PHL eyes larger share on global value chain for SMEs
By Kris M. Crismundo MANILA, Dec. 1 (PNA) — The Philippines is pushing local small and medium enterprises (SMEs) to get bigger share on global value chain. “We are advocating for simplified…
Ayala’s electronics subsidiary raises Php1.6-B from public offer
MANILA, Dec. 1 (PNA) — Integrated Micro-Electronics, Inc. (IMI) of the Ayala group successfully raised Php1.6 billion from the public offering and issuance of 215 million primary common shares at Php7.50 per…
PSEi climbs to one-month high past 7,300
MANILA, Dec. 1 (PNA) — The local stock market surged to a one-month high on Monday, extending its win streak for a second day, bolstered by expectations of lower consumer prices for…
8890 Holdings, Megawide partner to build condo township projects
By Leslie D. Venzon MANILA, Dec. 1 (PNA) — Two publicly-listed companies have formed a partnership to develop integrated condominium townships in Metro Manila. Megawide Construction Corp. will build a total of…
PHL to regain robust economic growth in 2015 –DTI chief
By Kris M. Crismundo MANILA, Nov. 30 (PNA) — The Philippines is seen to regain its robust economic growth next year, with the gross domestic product (GDP) expansion expected at least 7…
PHL Q3 GDP slows to 5.3%; 2014 growth seen at 6%
By Leslie D. Venzon MANILA, Nov. 27 (PNA) — The Philippine government is optimistic it will achieve at least 6-percent gross domestic product (GDP) growth this year after the country’s economy grew…
Max’s Group sets price for follow-on offering at Php17.75 per share
By Leslie D. Venzon MANILA, Nov. 27 (PNA) — Listed Max’s Group, Inc., the country’s largest casual dining restaurant chain, has set its offer to domestic investors of 197,183,100 common shares at…
SM Prime raises Php18-B via equity placement
By Leslie D. Venzon MANILA, Nov. 27 (PNA) — Property conglomerate SM Prime Holdings Inc. (SM Prime) has raised Php 18 billion from a placement of treasury shares, proceeds of which will…