Business

Union Bank of the Philippines (UnionBank) has earmarked P3 billion for capital expenditure (capex) to complete its digital transformation strategy, UnionBank President and Chief Operating Officer Erwin R. Bautista said. 

Bambang, Nueva Vizcaya – Chevron Philippines Inc. (CPI), distributor of the Caltex brand of fuels and lubricants, recently inaugurated its newest Caltex service station at the Nueva Vizcaya Agricultural Terminal – Agri-Pinoy Trading Center (NVAT-APTC) located along AH26, Bambang, Nueva Vizcaya. 

The local bourse operated by Philippine Stock Exchange Inc. (PSE) was recognized as the 2016 Best Stock Exchange in Southeast Asia at the Marquee Awards of the 10th Alpha Southeast Asia Deal & Solution Awards held in Sepang, Malaysia last Jan. 25. 

Philippine Airlines (PAL) ramped up its operations by formally launching its third domestic flight last Feb. 1 that will connect Clark International Airport (CRK) in Pampanga to Davao, President Duterte’s hometown province. 

By Riza Lozada  Bank lendings grew last December by 16 percent, which was slower than the 17.4- percent increase the previous month, data released by the Bangko Sentral ng Pilipinas (BSP) recently showed. 

Philippine Savings Bank (PSBank) said its long-term negotiable certificates of time deposits (LTNCTDs) attracted good demand from clients, adding that it was a reflection of confidence to the bank. 

The SM Group’s lending arm BDO Unibank Inc. aims to add 50 to 70 new local branches to its network in 2017 as part of its steps to expand footprint, optimistic about the prospects of the economy. 

Funds managed by Insular Life, the first and largest Filipino-owned insurance company, came out strong from last year’s roller-coaster ride for local stocks, rewarding its investors with “very decent returns”. 

Vehicle sales are growing in pace with the strong economic growth as the combined sales figures of Chamber of Automotoive Manufacturers of the Philippines Inc. (CAMPI), Truck Manufacturers Association (TMA), and Association of Vehicle Importers and Distributors (AVID) last year reached 404,710 units to exceed the sales target of 370,000 for last year. 

By Riza Lozada Public firm Philodrill Corp (Philodrill) will start drilling an a new deep sea oil prospect in the Galoc field in northwest Palawan, the company reported to the stock exchange.