Business

By Riza Lozada Outstanding loans of commercial banks, net of reverse repurchase placements (RRP), grew by 17.6 percent in June after posting a 17.7-percent increase in May to reflect rising economic activities.

The Ayala-led Bank of the Philippine Islands (BPI) reported a first-half net income of P12.67 billion, up 35.6 percent from a year ago.

The local stock market index managed to stay above the 8,000 level last Friday as the downturn across regional markets weighed on the bourse. The Philippine Stock Exchange index (PSEi) lost 76.95 points, or 0.95 percent, to 8,025.35 from the previous day’s 8,102.30 finish. 

Ayala Land Inc. (ALI) was named a Most Honored Company by New York-based Institutional Investor in its 2016 All-Asia Executive Team survey, as it ranked among the top in a list of over 1,500 Asian companies cited for corporate leadership and investor relations expertise.

Local fastfood giant Jollibee Foods Corp. (JFC) plans expand into new territories in Europe next year, as it embarks on an aggressive expansion both locally and internationally in a bid to increase sales from the overseas business over the next seven years.

The Anti-Money Laundering Council (AMLC) will still require the reporting of distribution of dividends and interest on investments as part of its mandate to look into suspicious transactions but the reporting for these can now be deferred based on a new resolution, Philippine Stock Exchange (PSE) president Hans Sicat said. Sicat said AMLC issued Resolution 48, series of 2016, which …

By Riza Lozada The Bangko Sentral ng Pilipinas (BSP) does not expect to change its current monetary policy settings anytime soon as it said inflation forecasts remain consistent with its target range including over the horizon.

The Philippine National Bank (PNB) has sought the Bangko Sentral ng Pilipinas’s (BSP) approval for the sale of P20 billion worth of long-term negotiable certificates of time deposit (LTNCD), the proceeds from which it intends to use for debt rollover.

Telecommunications giant Globe Telecom has signed an agreement with the government to support the creation of a new nationwide emergency hotline number, which is 911, to replace Patrol 117.

On July 15, Victoria International Container Terminal (VICT), a unit of local port operator International Container Terminal Services Inc. (ICTSI) signed a syndicated loan facility worth Australian $398 million (approximately $300 million) with seven leading global financial institutions, namely: Citibank N.A., KFW IPEX-Bank, Standard Chartered Bank as Mandated Lead Arrangers and Bookrunners, Bank of China Limited, DBS Bank Ltd., Investec …