Business

The Information Technology and Business Process Association of the Philippines (IBPAP) foresees continuous growth for the country’s IT and Business Process Management Industry (IT-BPM) due to local and global business expansion.

LBC Express Holdings Inc. (LBC) plans to conduct a follow-on offering of up to 69.1 million common shares to raise up to P1.17 billion in working capital for the listed firm’s expansion thrust.

Listed Roxas Holdings Inc. (RHI) reported a consolidated net income of P102 million for its fiscal year ending September, which was 451 percent higher than the P18.5-million profit recorded a year earlier.

By Riza Lozada PAL Holdings, Inc. (PHI) will acquire 100 percent of the total issued and outstanding shares of Zuma Holdings Management Inc., the holding firm of PAL and its affiliate Airline Philippines Corp. (APC), in a transaction valued at P8.2 billion to effectively consolidate the airline business of the Lucio Tan Group.

The government is expected to issue more bonds next year that will reach about P465 billion to address increased funding needs in line with the programmed hike in infrastructure spending, banking giant Hongkong and Shanghai Banking Corp. (HSBC) said in a report.

By Riza Lozada Money supply (M3) has risen 12.8 percent from a year ago in October to P8.9 trillion from a growth of 12.7 in the previous month in line with the sustained growth of the economy despite a slight decline in bank lending.

PayMaya Philippines, formerly Smart eMoney Inc, a pioneer in financial technology services, and its long-standing partner, leading global payments company Mastercard, have renewed agreement to continue the use of PayMaya mobile payment gateway solutions by Mastercard in the global market.

A top-level Spanish delegation which visited Davao City last week has expressed Spain’s support for President Duterte’s 10-point socioeconomic agenda and lauded his ongoing peace initiatives with insurgent groups as well as his strong campaign against illegal drugs.

SM Supermalls has partnered with BDO and SM Store for the biggest annual OFW Christmas party via the “5th Pamaskong Handog Para sa Global Pinoys” that is set to happen in ten SM malls nationwide. 

Communications gi­ant Globe Telecom is seeking govern­ment help in its bid to speed up the installation of more cell sites in the country as consumer demand for mo­bile data rises.