China Banking Corporation (Chinabank) reported a 13 percent growth in net income to an all-time high of ₱24.8 billion last year due to the sustained strength of its core businesses. In a disclosure to the Philippine Stock Exchange, the bank said its 2024 profit translated to a return on equity of...
The World Instant Noodles Association, in a summit hosted in the Philippines by Monde Nissin Corporation, has adopted a Manila Declaration, which sets voluntary targets for the industry to make their products healthier and more responsive to environmental and social concerns. WINA announced...
The local stock market bounced after news that the Philippines will continue to receive US aid, while upbeat corporate earnings further lifted investor sentiment. The Philippine Stock Exchange index (PSEi) rallied by 80.80 points or 1.33 percent to close at 6,144.96 on Wednesday, Feb. 26, as Banks...
Although the Philippine economy is considered relatively insulated from the potential trade war, Security Bank Corp. chief economist Angelo Taningco cautioned that the country is not entirely immune, identifying the trade war's prospects as the gravest threat. Despite expecting less impact compared...
Publicly-listed Premiere Horizon Alliance Corporation is investigating transactions made by its previous management for possible irregularities, including misuse of funds and the additional listing of shares. “The new management of the Corporation engaged the services of Deloitte Philippines to...
The Securities and Exchange Commission (SEC) has approved Megawide Construction Corporation’s planned public offering of up to ₱5.95 billion worth of preferred shares. In its meeting on Feb. 25, the Commission En Banc resolved to render effective Megawide’s registration statement covering a...
Alfamart Philippines, the minimart business of the SM Group, is expanding its network by at least 200 more new stores in Luzon this year to strengthen further its commitment to making fresh goods and daily essentials more accessible to Filipino neighborhoods. As of end-2024, Alfamart had 2,100...
Andrew Tan-led Megaworld Corporation, the country’s pioneer in township developments, reported a 12 percent year-on-year improvement in net income to a new record high of ₱21.7 billion as all its business segments saw strong growth last year. The firm disclosed to the Philippine Stock Exchange...
The local stock market weakened as investor sentiment remains dampened by geopolitical concerns such as US tariffs and discouraging economic and inflation numbers. The main index dropped on Tuesday, Feb. 25, by 31.81 points or 0.52 percent to close at 6,064.16, as conglomerates led the retreat...
Despite sealing deals to acquire the stakes of its fellow shareholders in the Philippine Dealing System Holdings Corporation (PDSHC), the Philippine Stock Exchange (PSE) will still be more than 20 percent shy of its target of full ownership of the fixed-income bourse owner. In a disclosure, the PSE...
The Yuchengco Group’s Rizal Commercial Banking Corporation (RCBC) reported a 22 percent drop in net income to ₱9.5 billion last year from the record-high ₱12.2 billion earned in 2023, which had included non-recurring gains. In a disclosure to the Philippine Stock Exchange, the bank said its...
Maharlika Investment Corporation (MIC), which manages the Philippines’ sovereign wealth fund, is set to provide a bridge loan facility worth $76.4 million to Makilala Mining Co. Inc. (MMCI), the Philippine affiliate of Australia-based Celsius Resources Ltd. In a disclosure to the Australian...
