The Market Monitor Minding the Nation's Business
Microfinance firm Cebuana Lhuillier has forged a partnership with Bayad Center to further boost its domestic remittance service in the country.
Read More »Cebuana Lhuillier taps Bayad Center as agent
Business
UBP acquires control of Cebu rural bank
The policy-making Monetary Board has approved the acquisition by Union Bank of the Philippines (UBP) units Union Properties Inc. (UPI) and City Savings Bank Inc. (CitySavings) of the 11-branch First-Agro Industrial Rural Bank (FairBank) based in Cebu.
Read More »BSP: Surrender of old peso notes extended to March
The Bangko Sentral ng Pilipinas (BSP) has extended the deadline for the exchange or replacement of old bank notes, also known as the New Design series banknotes or NDS, to March 31, 2017.
Read More »AP Corp. ramps up power plant stakes
By Riza Lozada Aboitiz Power Corp. (AP Corp.) has acquired a majority stake in GNPower Mariveles Coal Plant Ltd. Co. (GNPower – Mariveles) and a minority interest in GNPower Dinginin Ltd. Co. (GNPower – Dinginin), the company reported to the bourse.
Read More »PHA raises stake in Palawan development
Listed Premiere Horizon Alliance Corp. (PHA) has completed a 15-percent equity placement with strategic investors in West Palawan Premiere (WPP) development worth P800 million covering its current Palawan landholdings hiking PHA’s stake in WPP to 85 percent. WPP is the mountain and beach side lifestyle community development of PHA in Puerto Princesa City covering 576 hectares. “The full implementation of …
Read More »LandBank eyes creation of OFW Bank next year
By Riza Lozada The state-owned Land Bank of the Philippines (LandBank) will set up by September next year a bank partly owned by overseas Filipino workers (OFWs) and with an authorized capital of P3 billion.
Read More »BSP turns ‘green’, to use solar energy
The Bangko Sentral ng Pilipinas (BSP) will tap solar power for its offices to boost the government’s goal to increase the use of renewable energy.
Read More »BPI offers pension scheme to clients
Bank of the Philippine Islands (BPI) recently made the Personal Equity and Retirement Account (PERA) available to a limited number of existing BPI clients.
Read More »RCBC fine, expense cuts boost BSP income to P15B
Higher revenues and reduced expenses boosted the Bangko Sentral ng Pilipinas’ (BSP) net income to P15.26 billion in 2016 as of last October.
Read More »DBCC sees 50 to $1as 2017 base peso rate
Economic managers have revised the government’s foreign exchange target for 2017-18 in response to the prevailing weakness of the peso as a result of overseas developments.
Read More »