Aboitiz Equity Ventures Inc. reported a 47 percent fall in consolidated net income to P8.3 billion in the first nine months of 2020 from the P15.7 billion posted in the same period of last year. In a disclosure to the Philippine Stock Exchange, the firm said it recognized non-recurring losses of P5...
The Philippine government has directed Pangilinan-led PXP Energy Corporation to go ahead with its programmed seismic survey and well drilling at the Recto Bank even without securing first the concurrence of China National Offshore Oil Corporation (CNOOC) or that of the Chinese government. Energy...
(Taylor Weidman / Bloomberg / FILE PHOTO / MANILA BULLETIN) State-run Social Security System (SSS) has extended the validity of Land Bank of the Philippines issued checks to provide members with additional time to encash their benefits and loans. In a statement, Aurora C. Ignacio, SSS president and...
Finance Secretary Sonny Dominguez (NTF AGAINST COVID-19 / MANILA BULLETIN) The Department of Finance (DOF) urged the chief executives of local government units (LGUs) to borrow money to bankroll projects that would help the country recover from the coronavirus-induced global economic crisis....
The Bangko Sentral ng Pilipinas’ (BSP) has absorbed P1.8 trillion of liquidity from banks as of the end of the third quarter, 20 percent more than what was mopped up in the second quarter. MB file photo. The BSP’s weekly auction...
The ongoing COVID-19 pandemic has made both employers and workers more aware of the need for an employee retirement plan as part of the new normal. Security Bank’s Trust and Asset Management Group thus sees employee retirement...
The Philippine peso, which now hovers around P48 to the US dollar, is more on the defensive side and can still accommodate a little depreciation at the right time, an American foreign exchange currency strategist said. Robert Lynch, JP Morgan Private Bank global head of foreign exchange strategy,...
China Banking Corporation posted a 23 percent jump in net income to P8.2 billion from January to September 2020, translating to an improved return on equity of 11.15 percent. In a disclosure to the Philippine Stock Exchange, the bank said that, for the third quarter 2020, net earnings hit P3.0...
Pangilinan-led PXP Energy Corporation is seeking the imprimatur of the Philippine government as to the next steps it must pursue relative to its joint exploration deal with China National Offshore Oil Corporation (CNOOC) for oil and gas exploration at the Recto Bank offshore northwest Palawan...
The World Bank has approved a loan to the Philippines to improve its customs administration, reduce transaction costs as well as enhance predictability and transparency of the clearance process at the country’s borders. In a statement, the Washington-based financial institution said it...
With only about two months left in 2020, the Land Bank of the Philippines (LANDBANK) is still targeting to end 2020 with slightly higher amount of loans lent to the agriculture sector. In a statement, LANDBANK expects to further expand its agricultural loan portfolio to P245 billion by the end of...
Security Bank Corporation (SBC) has sealed a strategic partnership with Thailand’s Bank of Ayudhya, commonly known as Krungsri, with the sale of half of consumer finance subsidiary SB Finance Company, Inc. In a disclosure to the Philippine Stock Exchange, PSBank said Krungsri has acquired a...
