Business

Listed Philippine Seven Corp. (PSC), the local licensee of convenience store 7-Eleven, plans to put up 412 new stores in an expansion offensive worth P3.5 billion to support its target 20-percent growth this year.

Pagbilao, Quezon – In a bid to battle malnutrition among students in public schools, TeaM Energy, together with the Department of Education spearheads an on-going six-month feeding program in select public schools in the Municipality of Pagbilao in Quezon.

For the first time in many years, the gov­ernment main revenue agencies, the Bureau of Customs (BOC) and Bureau of Internal Revenue (BIR), are expected to hit their respective collection targets for this year, given their solid performance in 2016 and at the onset of 2017, Finance Secretary Carlos Dominguez III said.

Top finance students of state universities were recently introduced to global bank Citi’s banking products and services at the launch of Citi Junior Bankers mentoring sessions.

By Riza Lozada Former Sen. Alberto Romu­lo assumed the post as new chairman of the board of the Development Bank of the Phil­ippines (DBP) after Finance Secretary Carlos Dominguez III swore him into office last week.

By Riza Lozada Diversified con­glomerate Met­ro Pacific In­vestments Corp. (MPIC) reported a 17 per­cent rise in its consolidated core net income to P12.1 billion in 2016 from P10.3 billion in 2015 as a result of strong growth from all its operations.

Casino operator Belle Corp. reported consolidated net in­come of P3.1 billion for 2016, which was 74 percent higher from the previous year.

Listed chemical firm D&L Indus­tries reported P2.64 billion in net income for 2016 and earnings per share of P0.37 which were both higher by 15 percent.

By Riza Lozada  Domestic liquidity or M3 reported a slower growth of 12.4 percent in January from the revised 12.7 percent increase last December, data released by the Bangko Sentral ng Pilipinas (BSP) showed. 

Globe Telecom has built up a P14 billion warchest to beef up its effort to speed up and widen its Internet business after acquiring bandwidth assets of San Miguel Corp. in the costly P70 billion purchase deal in a team up with Philippine Long Distance Telephone Co. (PLDT).