An executive of Ayala Land Inc. (ALI) recently underscored the company’s willingness to work with the government to further boost infrastructure development in the country, according to a report by Philippine News Agency. During the company’s virtual annual stockholders meeting, ALI chairman Jaime Augusto Zobel de Ayala said “at the Ayala Group, we’ve always aligned our business aspirations with the …

Sy-led property developer SM Prime Holdings Inc. is planning to list its own real estate investment trust (REIT) in the second half of 2023, according to a recent published report. Jeffrey C. Lim, SM Prime president, said the company expects to raise some $1 billion or about P55.5 billion from its REIT. Total valuation would be around $3.5 to $4 …

Filipinos welcome summer with open arms – despite of or due to the heat wave – being the first summer people free from the pandemic restrictions.  While they plan their summer vacations, they need to stay out of harm’s way. Summer comes with its share of seasonal health issues.  “The scorching temperature is responsible for common heat-related illnesses. Vacation spots …

The Manila International Airport Consortium (MIAC), a partnership among six leading Filipino conglomerates and US-based Global Infrastructure Partners (GIP), has submitted a P100-billion unsolicited proposal to upgrade the Ninoy Aquino International Airport (NAIA).  The consortium is made up of Aboitiz InfraCapital, Inc., AC Infrastructure Holdings Corporation, Asia’s Emerging Dragon Corporation, Alliance Global – Infracorp Development, Inc., Filinvest Development Corporation, and …

International passenger demand remained solid, driven by the robust recovery in leisure and business travel in Asia and globally, as opposed to global cargo market, which was lackluster, according to March 2023 traffic figures from the Association of Asia Pacific Airlines (AAPA).  The easing of travel restrictions, coupled with strong travel appetite, led to a 494.6% year-on-year increase in the …

Online travel platform Agoda has found that the Bacolod City in Negros Occidental is the country’s cheapest tourist destination.  Agoda analyzed the average room rates of tourist destinations for April 2023, and after crunching the numbers saw that rooms in Bacolod cost an average of P2,650.  Beyond affordable room rates, the company noted that Bacolod — coined the “City of …

Ford Philippines announced the winners of the 22nd Henry Ford Awards (HFA), the first and only program of its kind in the country that recognizes excellence in Philippine automotive journalism, recently at the Xylo at the Palace in Taguig City.  The awards night is the culmination of months of rigorous deliberations of over 200 entries submitted by members of the …

Suzuki vehicle owners are rejoicing with the opening of the Suzuki Auto Taguig which is situated on a 1,130 sq-meter lot with a showroom and a six-bay service area and right beside the big Vista Mall.  This is the 35th dealership of Suzuki Philippines Inc. (SPH), the country’s pioneer compact car distributor, located strategically at 1050D Levi B. Mariano Ave. …

The Bank of the Philippine Islands (BPI) is the very first bank in the country to stretch the financing of car loans to an amazing 7 years from the ordinary 5-year term.  This was revealed during the launch of the BPI Hot Summer Promo, one of the bank’s initiatives to support nation-building by enabling Filipino families to own their dream …

The Land Bank of the Philippines (LANDBANK) recorded a net income of P10.8 billion in the first three months of 2023, buoyed by higher interest income and lower operating costs.  The three-month figure is P2 billion higher than its target for the first quarter and represents 30.8% of the Bank’s P35 billion income target by year-end.  The net income recorded …