Business

By Riza Lozada Local startup firms eyes entering new foreign markets in the next three to five years, according to the Philippine Startup Survey of Isla Lipana & Co./PwC Philippines and QBO Innovation Hub.

International remittance service firm Western Union recently expanded its national retail network in the Philippines with the addition of 1,200 new agent locations.

The government is exploring a grant from the United States to put up the country’s first tax academy, which will serve as a training institution that will provide revenue officials and employees continuing professional education on improving tax collection competence and efficiency.

By Riza Lozada State-owned Development Bank of the Philippines (DBP) was named small and medium enterprises (SME) Bank of the Year in the The Asian Banker – Philippine Country Awards for 2017 during ceremonies held last October 6, at the Fairmont Hotel in Makati City. The awards ceremony was held in conjunction with the region’s most prestigious retail banking event, …

Logistics firm Lalamove, which has been marking strong growth in Southeast Asia and China, with a strong presence in Manila, has recently completed its latest $100M (P5 billion) Series C funding round.

Listed lender Security Bank Corp (SBC), the country’s fifth largest private bank in terms of assets and capital as of June 30, has launched its initial tranche of long term certificates of deposit (CDs) last October 17 in line with the Bangko Sentral ng Pilipinas’ (BSP) approval to issue CDs dated October 5.

International container port operator International Container Terminal Services, Inc. (ICTSI) posted record productivity at its flagship Manila International Container Terminal (MICT) in the Philippines for August and September with equipment operators achieving their monthly targets.

By Riza Lozada Integrated energy company Semirara Mining and Power Corp. (SMPC) has tripled its first half royalty payments to the Department of Energy (DOE) to P1.69 billion from P575 million a year ago. The surge in government remittances was driven by the SMPC’s increased production and expanding operations. The company is targeting an annual coal production of 16 million …

Property giant Megaworld Corp. will expand its office space inventory by 500,000 square meters to meet strong demand over the next three years owing to the country’s sustained economic growth.

F resh business graduates should become “servant-leaders” by helping impoverished communities develop micro and small enterprises that will serve as catalysts for growth and save society’s marginalized sectors from the poverty trap, Finance Secretary Carlos Dominguez III said.