Economic managers have revised the government’s foreign exchange target for 2017-18 in response to the prevailing weakness of the peso as a result of overseas developments.

By Riza Lozada BDO Unibank Inc. (BDO) seeks to raise up to P60 billion in additional core capital through a stock rights offer to finance the bank’s medium-term growth plans and provide a buffer on higher capital requirements imposed by the Bangko Sentral ng Pilipinas (BSP).

Pizza chain Shakey’s Pizza Asia Ventures Inc. (Spavi), which is seeking to raise P3.96 billion through an initial public offer (IPO), targets to put up 20 new stores next year, as it embarks on an ambitious expansion plan.

Pilipinas Shell Petroleum Corp (PSPC) will pursue its $13-mil­lion (P624-million) upgrade of the Tabangao Refinery to pro­duce bitumen.

Last Dec. 15, Jollibee opened its first store in Winnipeg, Canada, home to over 70,000 Filipinos. The pioneer location was chosen as Winnipeg is home for several Filipinos with Ta­galog being the second-most common language spoken. In typical Jollibee fashion, the store was welcomed by long queues with people lining up as early as 10:30 PM the night before the …

New generation cur­rency (NGC) bank notes that have the signature of Presi­dent Duterte will start circulat­ing this week.

By Riza Lozada The Bangko Sentral ng Pili­pinas (BSP) recently revised foreign exchange regulations amid the entry of more foreign banks in the country includ­ing a requirement that foreign currency capital of a foreign bank’s branch be converted to pesos at the prevailing ex­change rate at the time of the remittance.

Finance Secretary Carlos Dominguez, acting on separate rulings of the Office of the Om­budsman, had dismissed a Bu­reau of Customs (BOC) officer and two municipal treasurers.

Banco de Oro’s insurance arm BDO Life Assurance Co. Inc. (BDO Life) capped the third quarter of 2016 with P6.3 billion in total premium income, representing a 24 percent growth from a year ago.

Convenience store chain Family Mart is now accepting loading and pay­ments through beep card, the same tap-and-go card you use for your train and bus rides.