Business

Increases regular dividends and issues special dividends on strong capital position Metrobank’s net income rose by 60% to P22.2 billion in 2021. Earnings more than doubled to P6.0 billion in the fourth quarter of 2021, boosted by the decline in provisions as the loan portfolio stayed healthy. Robust fees and other income as well as lower operating expenses further drove …

P3 Billion Proceeds to Boost Affordable Housing Business Century Properties Group, Inc. (CPG:PM) lists its 5-year P3 billion bond at the Philippine Dealing & Exchange Corp. (PDEx) after a successful market take up of the P2 billion base offer size and P1 billion oversubscription option. “This recently concluded capital markets deal has been encouraging as it reflects a more upbeat …

As the country faces the dire effects of the pandemic, the importance of access to quality healthcare become more apparent. Community based health care facilities became an important resource in managing not only the pandemic, but also provide primary care to illnesses. However, in countries with decentralized health systems like the Philippines, the quality and effectiveness of Barangay Health Facilities …

E-commerce brands in the Philippines and Southeast Asia are reportedly increasing their Direct-to-Consumer (D2C) presence by opening their own web stores, building on their existing marketplace to take control of customer journeys. The number of web stores in the country is expected to increase by 56% this year, according to LOCAD, the leading Asian logistics platform that enables businesses to …

Members of the Erehwon Arts Council led by Professor Anton Juan and Bonifacio Ilagan have committed to a set of fundamental principles, a commitment which has been permanently inscribed in a steel plate installed at the roofdeck of the Erehwon Center for the Arts. Erehwon Center for the Arts is managed by Erehwon Artworld Corporation with Rafael Rivera Benitez as …

Manila Water posted consolidated earnings of ₱3.7 billion for 2021, 18% lower than the previous year as the full-year effect of the COVID-19 pandemic impacted customer demand and business operations, even as domestic and international operations outside the East Zone Concession showed improved performance. Despite the challenges, including an ongoing tariff freeze, the Company pushed through with its projects to …

The Land Bank of the Philippines (LANDBANK) and the Technical Education and Skills Development Authority (TESDA) renewed their partnership program to finance the livelihood needs of Technical Vocational Education and Training (TVET) graduates. Initiated in 2019, the LANDBANK-TESDA partnership program was extended through a virtual signing of a Memorandum of Agreement (MOA) led by TESDA Director-General Secretary Isidro S. Lapeña …

Preliminary data show that outstanding loans of universal and commercial banks (U/KBs), net of reverse repurchase (RRP) placements with the BSP expanded anew for the sixth consecutive month at a quicker pace of 8.5 percent year-on-year in January from 4.8 percent (revised) in the previous month. Bank lending improved further as easing COVID-19 restrictions and the continuous vaccine rollout supported …

Subic Bay International Terminals (SBITC) has been included to the rotation of Mediterranean Shipping Company’s expanded Seahorse Service, providing industries in northern and central Luzon with a reliable link to global markets – especially Europe and the United States. Industries including agriculture, automotive, electronics, construction and garments can take advantage of the service’s connection to major transshipment hubs like Singapore, …

The Land Bank of the Philippines (LANDBANK) has released P933.9 million in interest-free loans to small farmers and fishers affected by the COVID-19 health pandemic, as of 31 December 2021. Through the Expanded SURE Aid and Recovery Project (SURE Aid COVID-19), LANDBANK has delivered loan assistance to a total of 37,637 beneficiaries, utilizing 93.4% of the total P1-billion Program fund.  …