32 C
Makati City
Wednesday, August 9, 2017
VISTA Land and Lifescapes Inc., the property development arm of the Villar family, returned to the local debt market on Tuesday as it listed its P5-billion seven-year and 10-year fixed-rate bonds at the Philippine Dealing and Exchange Corp. (PDEx) platform. The newly listed Vista Land bonds due 2024 and 2027...
FOR thousands of college graduates actively looking for employment every year, to work for top companies that provide financial stability, job security, rich organizational culture and career growth opportunities is an achievement. Mondelez Philippines, the company behind household names like Cheez Whiz, Tang, Oreo and Toblerone, provides them just...
SHARES of Chelsea Logistics Holdings Corp., controlled by Davao businessman Dennis A. Uy, swung low but didn’t sail high at its debut at the Philippine Stock Exchange (PSE) on Tuesday as investors decided to sell as the trading close. Shares of Chelsea closed P0.12 lower to P10.56 during its first...
CHEMICAL firm D and L Industries Inc. (DNL) on Tuesday said its recurring income grew 7.5 percent during the first half of the year to P1.35 billion, from last year’s P1.25 billion. However, DNL reflects a slower growth rate compared with the previous year amid election-related spending in 2016. For the second...
HOTEL operator Waterfront Philippines Inc. (WPI) is preparing for a cascade of benefits after the Mactan-Cebu International Airport Passenger Terminal Building formally opens. “We’re seeing a soaring tourism, especially in Cebu. And we’ll capitalize on this growth,” WPI President Kenneth T. Gatchalian told reporters on Tuesday at the the Manila...
SEAOIL Philippines urged the government to enforce a fuel-marking system before imposing higher taxes on petroleum products. “Hopefully, before the government decides to implement a planned increase in excise tax, we could implement the fuel-marking system in which it is used in other countries to monitor smuggling activities,” Seaoil CEO...

Briefs

Max’s sales up 12% CASUAL-dining restaurant operator Max’s Group Inc. said its income for the first half of the year grew 12 percent to P331.72 million, from last year’s P295.33 million. “Moving into the next quarter, we have lined up exciting product initiatives to cushion cyclicality effects during wet season,”...
The International Monetary Fund (IMF) scaled back its forecast expansion of the economy this year and next, but said the Philippines should still prove as one of the standout economies no matter the volatilities at home and abroad. At the news briefing conducted at the close of its so-called Article...
Having previously disposed just a fraction of its inventory of seven-year Treasury bonds (T-bonds), the Bureau of the Treasury (BTr) sold all P15 billion worth of the IOUs at the auction on Tuesday as bid rates finally proved to the agency’s liking. According to National Treasurer Rosalia V. de Leon,...
ON August 1 I was invited by the Department of Trade and Industry (DTI) Competitiveness Bureau Supply Chain and Logistics Management Division to attend the presentation of Dr. Ruth Banomyong of the World Bank-International Finance Corp., entitled “Understanding Logistics Performance in the Philippines”. The event was well attended and...
Young and successful retail brand owners and heads will be highlighted at the 24th edition of the National Retail Conference and Stores Asia Expo 2017 (NRCE) on August 10 and 11 at the SMX Convention Center Manila to inspire new breed of young retailers. At the 24th edition of NRCE 2017, spotlight will...
PROPERTY developer Ayala Land Inc. (ALI) on Monday said its income rose 18 percent during the first half of the year ending June to P11.5 billion, from last year’s P9.7 billion, boosted by residential sales. ALI’s property sales in the first half of the year remained robust, reaching P61.4 billion, 11-percent higher...

Twin Celebration  

Publicly listed Citystate Savings Bank held a Thanksgiving Mass on August 4 at its head office in the Citystate Centre Building, Shaw Boulevard, Pasig City, to signal the celebration of its 20th anniversary. Fr. Roby James of San Carlos Seminary celebrated the Holy Mass, which was followed by the blessing...
The Department of Agriculture (DA) has temporarily suspended the accreditation of all Brazilian meat establishments to export meat products to the Philippines after some shipments from the Latin American country tested positive for salmonella. Agriculture Secretary Emmanuel F. Piñol issued Memorandum Order (MO) 32, dated July 31, which authorized the...
Keeping the local currency’s competitive edge took its toll on the country’s dollar reserves, whose level went down for the second consecutive month in July, the Bangko Sentral ng Pilipinas (BSP) said on Monday. The gross international reserves (GIR) showed a diminution to only $80.786 billion, significantly lower compared to...
Metropolitan Bank and Trust Company (Metrobank) raised its consolidated income by 5 percent to P9.5 billion in the first half of the year as net interest income from target markets expanded by 16 percent to P29.6 billion, or 73 percent of total operating income, based on an unaudited or...
United Coconut Planters Bank (UCPB) posted a 12-percent growth in net income to P2.01 billion in the first half of the year, from P1.8 billion, as loans climbed by 15 percent to P153.37 billion, from P133.38 billion, according to its news release on Monday. Car loans contributed the largest growth and...
The Department of Finance (DOF) agrees with the proposal excluding the Bureau of Internal Revenue (BIR) from the Salary Standardization Law (SSL) on the condition they give up the security of tenure extended to civil servants. “I already said many times, you want to be exempted you’ll also be exempted...

Building an emergency fund

Is there a sophisticated technology that can predict or give certainty to the future? I am very keen to answer a resounding no. The only thing that is certain is an uncertain future. Can you imagine one day getting into an accident or some fortuitous event, and you no longer...
SM Prime Holdings Inc., operator of a chain of eponymous shopping malls, said its income grew 14 percent during the first half of the year to P14.39 billion, from P12.59 billion in the same period last year. Income for the second quarter alone grew 15 percent to P7.79 billion, from...
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