Business

The Caltex Fuel Your School (CFYS) project was recognized again for helping teach science, technology, engineering and math (STEM) subjects to 103,000 students and aiding 600 educators from the most needy senior public high schools in Metro Manila. 

Cebuana Lhuillier recently started its most extensive effort yet to improve the quality and availability of financial services in the country and aid in increasing the number of financially included Filipinos by the end of 2016.

By Jerry Maglunog Flag carrier Philippine Airlines (PAL) will add at least 20 more local and international destinations this year, which began with the Cebu-Los Angeles flight on Mar. 15. 

Filinvest Land Inc. (FLI), one of the country’s largest residential developers and business-process outsourcing (BPO) office providers, booked an 11-percent increase in profit last year, boosted by strong local demand and reduced financial cost. 

Asian conglomerate San Miguel Corp. (SMC) earned a net profit of P38.2 billion last year—up by 26 percent—while earnings before income tax, depreciation and amortization (Ebitda) climbed 23 percent to P108.6 billion.

Mass-housing developer 8990 Holdings Inc. partnered with listed Security Bank Corp. for the take out of its receivables amounting to P2 billion next month. 

By Riza Lozada  Major lender Metropolitan Bank and Trust Co. (Metrobank) reduced to 12 from 14 its number of directors to improve compliance with corporate governance best practices.

The Bureau of the Treasury’s liability-management deal, jointly managed by the state-owned Development Bank of the Philippines (DBP) and other banks, was awarded the deal of the year prize at the Investment House Association of the Philippines (IHAP) Awards 2016. The Philippines closed on Sept. 9, 2015, this domestic liability-management transaction. 

The country isn’t likely to achieve its goal of providing digital literacy for all in the absence of a favorable government policy that would equip public elementary and secondary schools with Internet access by 2016.

SM Prime Holdings President Hans Sy and other top business leaders in the Philippines have banded to strengthen the country’s disaster risk-reduction and development efforts.