Business

The Department of Finance (DOF) is pushing the merger of the Philippine Export-Import Credit Agency (PhilEXIM) with other state-run guarantee firms to create a new single entity that would provide fresh funds for a new government guarantee system. 

The Bangko Sentral ng Pilipinas’ (BSP) policy-making Monetary Board (MB) will have two new members while the term of current MB member and former Socioeconomic Planning Secretary Felipe Medalla has been extended for another six years. 

The Board of Investments (BOI) recently approved San Miguel Foods Inc.’s (SMFI) application for registration as a producer of whole dressed chicken and further processed chicken parts (marinated and deboned) for its two proposed meat processing plants in Sta. Cruz, Davao del Sur and Pagbilao, Quezon. 

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.