Business

The Philippine peso is expected to stabilize within this week after signs of recovery last week, Bangko Sentral ng Pilipinas (BSP) Governor Nestor Espenilla Jr. said. 

Finance Secretary Carlos Dominguez III has praised the Land Bank of the Philippines’ outstanding employees who received this year’s Gawad Punla awards for their loyalty and dedication, which, he said, have made this financial institution one of the country’s strongest banks and that has thus far been immune from scandals and process failures. 

By Riza Lozada Listed Calata Corp. is selling 81 percent of its total shares to food processing firm Millennial Global Holdings Inc. through subscription to its 2.5 billion shares, in an effort to fend off its removal from the stock exchange. 

Fastfood giant Jollibee Foods Corp. (JFC) posted a net income of P3.38 billion in the first half, up 10.2 percent from P3.06 billion a year ago. 

Building solutions provider Holcim Philippines Inc. expects the needs of the local affordable housing market will guide its plans to introduce products and services that can help stakeholders build quality shelter projects. 

Meralco consumers may soon enjoy 30 percent lower rates as a result of record prices from solar developers. 

Listed telecoms giant Philippine Long Distance Telephone Co. (PLDT) has strengthened its leadership in the home broadband business with both revenues and subscriber numbers growing at double-digit rates as the company rolls out more Fiber-to-the-Home (FTTH) lines and offers a growing range of rich digital content and services in more parts of the country.

A P1-billion insurance fund that will enable 25 disaster-prone provinces to act faster and better respond to the devastating impact of natural calamities is now available under the government’s Parametric Insurance Pilot project, the Department of Finance (DOF) said. 

Finance Secretary Carlos Dominguez III has paid tribute to the immediate past and current governors of the Bangko Sentral ng Pilipinas (BSP) for their “adept management” of monetary policies, which has earned global recognition for the country’s central banking institution. 

The policy-making Monetary Board (MB) of the Bangko Sentral ng Pilipinas (BSP) prohibited World Partners Bank (A Thrift Bank) Inc. from doing business in the Philippines.