Business

FWD Life Insurance Philippines President and Chief Executive Officer Peter Grimes was lauded as an “Outstanding Leader in Asia” by the Asia Corporate Excellence and Sustainability (ACES) Awards. At the awarding ceremonies held on October 26, 2017 at InterContinental Hotel, Singapore, Peter received the honor alongside five other CEOs from across Asia. He was given the award for demonstrating sound …

Strong growth in loans and deposits boosted Rizal Commercial Banking Corp’s (RCBC) net income by 19 percent in the third quarter to P1.1 billion from a year ago.

Listed Asia United Bank (AUB) reported a 19.3 percent growth in unaudited consolidated net income for the year up to September to P2.2 billion.

Ayala Land Inc. (ALI) posted a net income of P17.8 billion in the first nine months of 2017, growing 18% year-on-year with the consistent and strong performance of its diverse business units. Its consolidated revenues registered at P98.9 billion, 16% higher compared to the P85.49 billion it earned in the same period in 2016. The company’s robust growth fuels its …

The Securities and Exchange Commission (SEC) last Wednesday filed a criminal complaint before the Department of Justice (DoJ) against agri-business firm Calata Corp. as a result of the company’s violation of the securities code.

Construction equipment supplier Holcim Philippines, Inc. held a series of meetings last October with key stakeholders in the public and private sector to share innovative approaches and technologies that can help cut costs, speed up construction and improve durability of structures in the nationwide upgrade of infrastructure.

By Riza Lozada Local leisure company Bloomberry Resorts Corp. reported consolidated third quarter profit of P1.852 billion was 31 percent higher year-on-year mainly driven by a 46 percent year-on-year improvement from Solaire that was muted by a swing to net loss by the Korean operations.

Global port operator International Container Terminal Services Inc. (ICTSI) posted a net income of $149.3 million, up five percent from $141.9 million a year ago due to the continuing ramp-up at the new terminal in Matadi, Democratic Republic of Congo (DRC); strong operating income contribution from the terminals in Iraq, Mexico, Honduras, Brazil and Madagascar; and the one-time gain on …

By Riza Lozada The initial operations of the Overseas Filipino Bank (OFB), a bank devoted to overseas Filipino workers (OFW), will proceed as scheduled in January 2018, following the assurance by the Bangko Sentral ng Pilipinas (BSP) that the approvals from the necessary clearing institutions will be secured before the end of the year, the Department of Finance said in …

With financial transactions becoming more and more interconnected and complex risks have evolved and magnified and these developments from a financial regulator’s perspective, mandate a transition from stand-alone to system-wide oversight.