Business

By Riza Lozada The price of freshly-listed Pil­ipinas Shell Petroleum Corp. shares closed strong on Friday, rising P2.50 to P69.50 each from its initial public offer (IPO) debut of P67 despite the market being at an oversold level.

Century Pacific Food Inc. (CNPF), through unit Centu­ry Pacific Seacrest Inc., recent­ly acquired the license to the Kamayan trademark for North America.

AboitizLand, the property de­veloper unit of Aboitiz Equity Ventures (AEV), plans to un­dertake five housing projects next year worth about P4 bil­lion located outside Metro Manila, riding on the growth of residential property market.

By Riza Lozada The Bangko Sentral ng Pilipinas (BSP) recently allowed mi­crofinance-oriented small bank to convert into a regular thrift bank.

Salary-based general-purpose consumption loans (SGPCL) con­tinue to expand bank lending, according to the latest data from the Bangko Sentral Ng Pilipinas (BSP).

Rizal Commercial Banking Corp. (RCBC) reported an unaudited consolidated net income of P3.5 billion for the first nine months.

The Monetary Board (MB) of the Bangko Sentral ng Pilipinas (BSP) has closed the operations of the Community Rural Bank of Dingras (Ilocos Norte) Inc.

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.