Business

Flag carrier Philippine Airlines (PAL) marked its 75th anniversary last year by unveiling a new marketing campaign called Heart of the Filipino and along with it a goal of becoming a five-star airline within five years. 

By Riza Lozada  The Land Bank of the Philippines (LandBank) has vowed to substantially increase lending to small farmers and fishermen from P37.9 billion to P115 billion over the next six years, in keeping with President Duterte’s goal of dispersing the benefits of growth to the countryside through the development of the farm sector.

Light Rail Transit 1 (LRT-1) operator Light Rail Manila Corp’s (LRMC) P24-billion loan facility was recently awarded Best Project Finance Deal of 2016 in the 10th Annual Alpha Southeast Asia Best Deal and Solution Awards. 

Microfinance firm Cebuana Lhuillier has forged a partnership with Bayad Center to further boost its domestic remittance service in the country. 

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. 

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. 

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.

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 …

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.

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.