Business

By Riza Lozada The Department of Budget and Management (DBM) was awarded as the sole FOI Champion agency for its outstanding commitment in ensuring transparency in public service in the recently concluded 2017 Freedom of Information (FOI) annual awards. Budget Secretary Benjamin Diokno along with Undersecretary Lilia Guillermo, received the award in behalf of the agency during the recognition ceremony …

State-owned Development Bank of the Philippines (DBP) was recently presented with an award of excellence by the Governance Commission for GOCCs and the Institute of Corporate Directors for achieving one of the highest scores on the Corporate Governance Scorecard (CGS) for government-owned and controlled corporations.

Commercial bank Philippine National Bank (PNB), which has 600 branches nationwide, will double its loan window facility in Southern Mindanao next year to provide more small and medium entrepreneurs (SMEs) access to financing.

The Philippine Deposit Insurance Corp. (PDIC), Bangko Sentral ng Pilipinas (BSP) and Land Bank of the Philippines (Land Bank) recently relaunched the Consolidation Program for Rural Banks (CPRB) that would take effect from October 26, 2017 up to October 26, 2019.

Logistics firm LBC Express Holdings Inc (LBC) has adopted Bloomberg’s Foreign Exchange electronic trading platform (FXGO) to support its treasury function as it continues to expand and boost growth.

Transport network company Uber’s operations in the Philippines was among those hit in a massive data breach involving 57 million users worldwide dating back to October 2016.

By Riza Lozada The Ramon S. Ang-led Eagle Cement Corp (EAGLE) has embarked on its plans to raise its production capacity to 9.1 million metric tons with the recent ground breaking of its fourth production line in Malabuyoc, Cebu.

By Riza Lozada Listed Alsons Consolidated Resources Inc. (ACR) has partnered with Global Business Power Corporation (GBP) to undertake energy and power projects through its Mindanao power generation unit Alsons Thermal Energy Corp. (ATEC).

By Riza Lozada Many banking systems in Asia Pacific are still exposed to elevated levels of private sector leverage, although the buildup of such leverage has slowed, Moody’s Investors Services (Moody’s) said in a report.

By Riza Lozada The Asian Development Bank’s (ADB) board has approved a $300 million (P15 billion) loan and a $500,000 (P25 million) technical assistance grant to support the government’s efforts to develop the domestic capital market to help finance infrastructure.