The Gokongwei Group’s Robinsons Retail Holdings Inc. posted a 29.5 percent drop in attributable net income due to foreign exchange losses and the impact of the merger of Robinsons Bank with the Bank of the Philippine Islands (BPI). In a disclosure to the Philippine Stock Exchange (PSE), the firm...
The local stock market closed higher but well below the day’s peak after the country’s economic growth came in below target but above analysts’ estimates. The main index added 24.43 points or 0.37 percent to close at 6,646.44 as the Property sector led the advance although conglomerates and...
Union Bank of the Philippines (UnionBank), the banking unit of the Aboitiz Group, is planning to raise P10 billion from a stock rights offering even as it reported a 28 percent drop in net income last year. In a disclosure to the Philippine Stock Exchange (PSE), the bank said its Board of Directors...
This week, local stock market investors will be taking cues from the US Federal Reserve meeting as well as Philippine fourth quarter gross domestic product (GDP) data. “Investors face an eventful trading week that could determine whether the local index finally breaks out of the strong resistance...
The Bureau of the Treasury is set to disburse the P75 billion seed capital to the Maharlika Investment Corp. (MIC) sourced from the Land Bank of the Philippines and the Development Bank of the Philippines (DBP). This decision comes following the approval by the MIC Board, chaired by Finance...
In just over a year since its rebranding, fintech unicorn, Maya, has swiftly become the Philippines' “Best Digital Bank,” earning global praise for its game-changing innovations, world-class marketing, and exemplary workplace culture. 2023 marked a milestone for Maya, reaching an...
The government is partnering with the Asian Development Bank (ADB) on the rightsizing and a public financial management (PFM) institute for local agencies, the Department of Budget and Management said. Budget Secretary Amenah F. Pangandaman said that ADB has been aiding the government in passing...
The local stock market continued to rise as investors position for the new year amid rate cut expectations. The main index hiked 37.27 points or 0.56 percent to close at 6,680.45 with the Mining and Oil sector leading the advance. Volume amounted to 460 million shares worth P5.82 billion as...
The Bangko Sentral ng Pilipinas (BSP) reported that both domestic liquidity (M3) and bank lending grew last November and in the first 11 months of 2023. Preliminary data from the BSP showed that M3 grew by 7.0 percent year-on-year to about P16.8 trillion in November from 8.1 percent (revised) in...
The local stock market is not seen to start strong on the first trading week of the new year as investors wait for fresh economic data that will hopefully serve as catalysts for a rally. “Investors may start 2024 still on a cautious note as there remains no catalyst for the local bourse....
Investors in the local stock market have reason to be guardedly optimistic about 2024 following a lackluster trading in 2023. “The expected improvement in macroeconomic indicators are poised to drive market conditions in 2024,” said Philippine Stock Exchange (PSE) President and CEO Ramon S....
The local stock market returned to the 6,500 level as share prices rode on positive sentiment in the US bourses. The main index rose by 56.31 points or 0.87 percent to close at 6,519.11 as the Industrial sector led all counters in the advance. However, volume dropped to 385 million shares worth...
