Business

Since its establishment in April, the Department of Trade and Industry’s (DTI) Task Force Kalasag (TFK) has seized 872,652 units of substandard goods valued at P297.9 million. The seized products were deemed substandard due to missing markings required by the Bureau of Philippine Standards (BPS) and insufficient product information. Confiscated items included household appliances, ceramic tiles, sanitary wares, steel wires, …

Foreign direct investment (FDI) net inflows to the Philippines totaled USD1.03 billion in September, according to data released by the Bangko Sentral ng Pilipinas (BSP) on Thursday. The September net inflows surged by over 92 percent, or USD491.82 million higher from the previous month, up from August’s USD533.95 million. “The US$1,025.77 million net inflows for September 2024 are a reversal …

Oil prices continued to climb on Friday following news reports that Iran is preparing to strike Israel in a few days. The international oil benchmark of Brent crude increased by 0.55 percent to USD74.43 per barrel at 11.09 a.m. local time (0809 GMT), up from the previous session’s close of USD74.02. The US benchmark West Texas Intermediate also rose by …

The Philippine National Bank (PSE: PNB) posted a consolidated net income of P15.1 billion for the first nine months of 2024, 12 percent higher compared to its earnings for the same period last year at the back of robust growth in net interest income. Comprising 83 percent of total operating income, the Bank’s net interest income increased by 10 percent …

BDO Unibank, Inc.’s (BDO) net profit grew 12% year-on-year (YoY) to P60.6 billion in the first nine months of 2024, driven by the sustained contribution of its core intermediation and fee-based service businesses. Annualized Return on Common Equity (ROCE) stood at 15% in the 9M 2024 period. Gross Customer Loans increased 13% YoY on broad-based growth across all market segments, …

Metropolitan Bank & Trust Co. (Metrobank) was recognized with a Gold Stevies at the recently held 2024 International Business Awards for its ‘Grow With Metrobank’ campaign, which tell the stories of growth from customers’ and Metrobankers’ perspective. The campaign had two parts: first is a customer story video, which is based on how the Bank has helped clients in their …

Land Bank of the Philippines (LANDBANK) has announced the availability of immediate financial assistance to businesses and individuals affected by Typhoon Kristine, reinforcing its commitment to helping rebuild communities and restore economic activity in hardly hit areas. Under the LANDBANK CARES Plus (Community Assistance and REintegration Support Plus) Lending Program, various sectors—including farmers, fishers, cooperatives, micro, small, and medium enterprises …

The Government Service Insurance System (GSIS) launches the Multi-Purpose Loan (MPL) Lite program to help its members quickly bridge or cover unexpected expenses and temporary budget gaps, the GSIS said. The MPL Lite, tailored specifically to support members, offers accessible financing that ranges from 5,000 to 50,000 (multiple of five) with flexible repayment terms of six, 12, 18 or  24 …

East Java Multipurpose Terminal (EJMT), International Container Terminal Services, Inc.’s (ICTSI) operation in Lamongan Regency, Indonesia, has appointed Sinarmas LDA Usaha Pelabuhan (SLUP) as its preferred towage and pilotage supplier.  Under this partnership, SLUP will deploy two Azimuth Stern Drive Z-peller propulsion system harbor tugs with total engine power of 6,200 horsepower and provide Maritime Pilot Class 1 services to …

Global innovative technology brand TECNO today shared that its innovative TECNO Pocket Go has been listed as one of TIME’s Best Inventions of 2024 by TIME.  This recognition underscores TECNO’s leadership in innovation with a futuristic mindset, further adding to TECNO Pocket Go’s impressive array of accolades, including from the Red Dot Design Awards, the International Design Excellence Awards and …