Bank of Commerce (BankCom), the banking arm of conglomerate San Miguel Corporation (SMC), was assigned an Issuer Credit Rating of PRS Aa plus (corp.) with a "Stable Outlook" by Philippine Rating Services Corporation (PhilRatings). PhilRatings said an Issuer Credit Rating is an opinion on the...
Fruitas Holdings Inc., a leading food and beverage retail operator, has secured a P300 million credit facility from Philtrust Bank to boost its war chest to P1 billion as it actively looks for new partners for mergers and acquisitions (M&As). In a statement, the firm said it has also...
The local stock market ended higher ahead of the Philippine inflation report for the month of August while the US jobs data released last Friday also boosted regional bourses. The main index added 33.62 points or 0.54 percent to close at 6,214.68 as the Property sector led the advance while...
Stock market investors will be looking to the Philippines’ inflation numbers for August for cues while also monitoring US and Chinese economies for additional motivation. China Bank Capital Corporation Managing Director Juan Paolo Colet said, “this week’s market direction will be shaped by...
The local stock market plunged as investors took profits on the last day of the month of August amid continuing worries about the economies of the US, China, and the Philippines. The main index fell 120.04 points or 1.91 percent to close at 6,175.25 as the Property counter plummeted while...
State-run National Power Corporation (NPC) and its foreign development-partners have gained traction on rural solar photovoltaic (PV) installations that are set to benefit at least four electric cooperatives (EC) in Visayas and Mindanao grids. Via the Access to Sustainable Energy Programme (ASEP)...
The local stock market recovered more ground as encouraging economic news spurred investors to pick up bargains. The main index rose by 70.29 points or 1.13 percent to close at 6,295.29 with Conglomerates leading the charge. Volume dipped to 672 million shares worth P3.97 billion as gainers...
The Commission on Audit (COA) said the Department of Education (DepEd) has more than P362.7 million in "unauthorized, unnecessary, and dormant bank accounts" that violate the General Appropriations Act of 2022. In its audit report, COA said that DepEd has a total of P362,760,156.45 cash in banks...
The Philippine stock market benchmark, the PSEi, had been stuck in the doldrums for months—trading within a tight 200-300 point band—before crashing below its support level to a nine-month low and underperforming other regional and emerging markets. China Bank Capital Corp. Managing Director...
How would you feel if the government were to borrow some of your hard-earned savings from the banks? Well, generally, banks do not take your feelings into consideration. In reality, they are allowed to utilize the savings of their depositors, which are sitting idle in their vaults, and invest them....
The local stock market finally bounced back after US Treasury yields eased and spurred a rally in US bourses. The main index rose by 46.15 points or 0.75 percent to close at 6,225.78 with Banks leading all sectoral indices higher. Volume was still low though, at 415 million shares worth P3.31...
The battered local stock market continued to drop, this time after US Treasury yields hit a 16-year high. The main index fell by 77.88 points or 1.24 percent to close at 6,212.39 as Conglomerates led the retreat while Banks managed to advance. Volume amounted to 391 million shares worth P4.79...
