Business

A marketing and communications expert at the Department of Trade and Industry (DTI) with a sterling record in handling major tourism projects in Mindanao is working closely with the Department of Finance (DOF) in handling the preparations for the 2018 annual meeting of the Asian Development Bank (ADB) Board of Governors to be held in Manila.

By Riza Lozada The Philippine Stock Exchange index (PSEi) closed at 7,843.16 on the last trading day of June, marking a 14.7 percent increase for the PSE index in the first six months which market players attributed to the reform thrust of the government. 

JG Summit Holdings Inc. (JGSHI) has increased its capital expenditure (capex) to P48 billion for this year up 13 percent from last year’s P41.9 billion. 

Listed A Brown Co. Inc. has entered into a cooperation agreement with private institution Rusatom International Network (RAIN) recently. 

To provide enhanced commuter experience to LRT-1 passengers, LRT-1 operator Light Rail Manila Corporation (LRMC) and Coca-Cola recently sealed a partnership under the “Station Domination” Project spearheaded by PHAR, LRMC’s exclusive ancillary revenue partner. 

British bank Standard Chartered has offered to help convert the state-owned Development Bank of the Philippines (DBP) into the government’s infrastructure bank. 

The Bangko Sentral ng Pilipinas (BSP) is consulting the banking sector on a plan to issue new rules regarding online financial transactions next month. 

By Riza Lozada Filipinos working abroad can look forward to having a bank dedicated to their needs and a chance to invest in government securities as the Department of Finance (DOF) said a state-owned OFW bank will open in October while at least $500 million worth of US-dollar OFW bonds is being planned for overseas issue next year. 

The Bangko Sentral ng Pilipinas (BSP) has launched Credit Surety Funds (CSFs) in Tacloban City and Mandaue City. 

By Riza Lozada Listed companies had a combined net income of P683 billion in 2016, higher by 17.8 percent from P580.15 billion in 2015 as a result of improved business operations and lower costs, Philippine Stock Exchange (PSE) data showed.