Business

By Riza Lozada The country’s oldest mining firm Ben­guet Corp will seek a court injunction on the Department of Environ­ment and Natural Resources’ (DENR) refusal to lift a sus­pension order imposed on its mining operations in Sta. Cruz, Zambales.

Intense competition in the smartphone market as a re­sult of the proliferation of low-cost units, mainly from China prompted Moto, for­merly Motorola, is seeking to change the equation through the offering of high-quality phones within reach of Fili­pino consumers through tie-ups with phone companies.

Broadcast giant ABS-CBN Corp. reported a consolidated revenue of P31.1 billion for the first nine months boosting its net income by 50 percent to P2.85 billion compared to the same period last year.

Listed building equipment supplier Holcim Philippines posted a 15.3 percent jump in net income to P1.76 billion for the third quarter from a P1.53 billion profit a year ago.

By Riza Lozada The Bangko Sentral ng Pili­pinas (BSP) has revised the rules on dormant deposits and bank fees, which the BSP said was part of efforts to strengthen protection of depositors.

BPI-Philam Life Assurance Corp., the country’s largest bancassurance company, kicked off with the first ever Bancassurance Month this Oc­tober during the unveiling of the new BPI-Philam Life Makati Building (formerly Ayala-Life FGU).

Financial inclusion is slowly gaining ground as more banks offer investment products for retail investors.

Landbank of the Philip­pines’ (Landbank) Build­ers program was awarded the “Best SME Product” at The Asian Banker’s Phil­ippine Country Awards 2016.

Chinese currency renminbi (RMB) has been in­cluded among the country’s currency reserves in line with the International Monetary Fund’s (IMF) inclusion of it in the basket of reserve notes, the Bangko Sentral ng Pilipinas’ (BSP) said.

By Riza Lozada Pilipinas Shell Petroleum Corp. (PSPC) alloted a total of 27.5 million shares for purchase of local small investors (LSI) under the Local Small Investors Program, and 55 million common shares have been allocated for purchase through trading participants of the Philippine Stock Exchange, Inc. (PSE) in the company’s initial public offering (IPO).