Business

The Philippine National Bank (PNB) is reviewing the financial profiles of rural banks (RBs) for a possible acquisition.

By Riza Lozada Revenues of Philippine Long Distance Co. (PLDT) Inc from its so-called legacy businesses, which comprise cellular domestic voice, SMS or text messages, and international and national long distance (ILD/NLD) calls, dropped by P2.5 billion for the first quarter. In contrast, broadband, corporate data and data center revenues rose by P2.5 billion or a 22 increase during the …

Conglomerate Aboitiz Equity Ventures Inc. (AEV) reported a 24-percent increase in profit to P5 billion in the first quarter on the back of power, banking and financial services, and infrastructure business units.

The Philippines posted an improvement of more than 5 percent in its score in the 2016 perception survey conducted by the international think tank Political & Economic Risk Consultancy Ltd (PERC), the highest among covered developing countries. 

Atlas Consolidated Mining and Development Corp.’s (ACMDC) Cebu unit Carmen Copper Corp. (CCC), engaged in copper mining copper and exporting, said in will lay off 551 employees, equivalent to 15 percent of its workforce, as part of cost reduction due to the depressed prices of copper in the global market. 

By Jerry Maglunog Nearly 90 percent of goods bought with credit cards are consumer items, making the local economy household lending-driven.

The demand for the lifting of the bank-secrecy law because of recent allegations that it is being used to conceal unexplained wealth may have a backlash on efforts of the country to attract more investments, bankers said.

Capital One Philippines Support Services Corp., the Alabang-based global in-house contact center of Capital One Financial Corp., has been given the Outstanding Community Project prize by the Philippine Economic Zone Authority (Peza).

An additional 55,000 Filipino children between six and 13 years old are expected to participate in the Kasibulan Grassroots Football Development Program (2015–2017), organized by the Philippine Football Federation (PFF) through the financial assistance of state-owned Philippine Amusement and Gaming Corp. (Pagcor).

With the economy expected to expand even more this year, the Association of Filipino Franchisers Inc. (AFFI) has laid out plans to further empower entrepreneurs and the role of entrepreneurship in nation-building.