P55 Billion Capex Allocated by Megaworld for the Year
The planned capital expenditure budget will be kept steady this year, according to Andrew L. Tan. With P55 billion set, at least 75% will be allocated for the development of …
BSP Approves of Rural Bank Mergers
The consolidation of two rural banks received the approval of the Bangko Sentral ng Pilipinas. Both banks are in Mindanao. The merger takes place in the midst of efforts to …
SBMA Reports Profit of P1.1 Billion Pre-Tax
The Subic Bay Metropolitan Authority (SBMA) posted the previous year’s pre-tax earnings. It amounted to a total of Php 1.1 Billion. This was after it incurred an increase in foreign …
Denny’s and Texas Roadhouse to Open in Manila
The Bistro Group is set to bring three more dining brands into the Philippines. These brands include Denny’s and Texas Roadhouse. The entry of such American establishments will give the …
BDO Nets Record Php25.1 Billion
BDO Unibank, Inc. grew its net income last year by a tenth. It has reached an all-time high of Php 25.055 billion in the midst of robust growth in all …
SM to Consolidate Retail Businesses
Henry Sy, Sr. plans on merging his retail assets under SM Retail, Inc. that will form a larger business with almost 2,000 stores in total. The move is aimed at …
Election Lift Expected for the Peso
It is expected that the upcoming national elections will be good news for the peso. This expectation partially comes from history, since previous elections in 1998, 2004, and 2010 had …
Malaysia Eyes Philippines as Market for Raw Material
Malaysia Trade Office Commissioner Nyaee Ayup called on local producers for the exploration of opportunities in supplying raw materials to several Malaysian manufacturing companies. In an interview, she stated that …
China Bank Net Profit Increased by 10% in 2015
For the previous year, China Bank saw its net income expand by 10%. This increase happened on the back of the company’s continued core business operations expansion. To be specific, …
Philippines Sees Rise of Oil and Gas Potential
The Philippines has received recognition for its global transparency initiative, which covers the gas, oil, and mining industries. The potential that these industries possess has led the country’s Finance secretary …