Business

Robinsons Retail Hold­ings Inc.’s (RRHI) reported its net income increased by 11.1 percent to P3.3 billion for the first nine month of last year from P2.97 billion a year ago.

Fuel distributor Phoenix Pe­troleum Philippines Inc. (PNX) has tapped Globe Business, the corporate information and communications technolo­gy arm of Globe Telecom, for the use of G Suite to maximize business efficiency.

Ayala Corp. unit AC Energy Holdings Inc. (AC Energy) signed investment agree­ments with UPC Renewables Indonesia Ltd for the develop­ment, construction, and oper­ation of a 75-megawatt (MW) wind farm project in Sidrap, South Sulawesi, Indonesia.

The Asian Develop­ment Bank’s (ADB) operations that in­cluded approvals of loans and grants, techni­cal assistance, and cofinanc­ing reached an all-time high of $27.15 billion in 2015, a 19 percent increase over the $22.89 billion in 2014, accord­ing to ADB figures.

Domestic liquidity or M3 is expected to remain high following the ban against trust entities from tapping the Bangko Sentral ng Pilipinas’ (BSP) overnight de­posit facilities and the Term Deposit Fa­cility (TDF).

By Riza Lozada Foreign direct investments (FDI) inflow rose to $6.22 billion in the first 10 months of last year, up 22.2 percent from $5.1 billion a year ago, government data released last week showed.

Six foreign banks have indi­cated interest to open local offices, Bangko Sentral ng Pili­pinas (BSP) Governor Amando Tetangco Jr. said.

By Riza Lozada  The Securities and Exchange Commission (SEC) has approved the P2- billion special block sale of common shares held by businessman Roberto V. Ongpin (RVO) in Philweb Corp. to Gregorio Araneta Incorporated (GAI) that puts into motion a tender offer of the shares are required by the bourse. 

Listed mining firm Global Ferronickel Holdings, Inc (FNI) unit Platinum Group Metals Corp (PGMC) recently signed a supply contract for the delivery of a total of 2 million wet metric tons of nickel ore to Guangdong Century Tsingshan Nickel Industry Co Ltd at spot price for the 2017 mining season, FNI reported to the bourse. 

The Philippines will host the 14th Asia Forum of Hong Kong Business Associations (HKBAs) this year, Hong Kong Chamber and Commerce of the Philippines, Inc. (HKCCPI) President Anthony Chan said.