Business

Philex Petroleum Corp. reported a consolidated net loss of P118.1 million for the nine-month period ending September, which was lower than the P376.9 million in losses a year ago, to reflect the impact of low crude oil prices on Asian fuel companies.

By Jerry Maglunog Regardless of the type of bank, the trend is to create units that will engage in the industrial sector to realize gains from the country’s fast-growing economy.

The Management Association of the Philippines (MAP) recently conferred on Bangko Sentral ng Pilipinas (BSP) Gov. Amando Tetangco Jr. the MAP Management Man of the Year 2015 award. 

  Washington—Striving to end a cycle of crisis, congressional leaders and the White House united behind an ambitious budget and debt deal aimed at restoring a semblance of order to Capitol Hill and ending the threat of government shutdowns and defaults until well after a new president takes office. 

Tokyo—Two years after Prime Minister Shinzo Abe made women’s advancement a top policy priority, statistics suggest Japan’s male-dominated workplaces have evolved slightly, but they also highlight the deep-seated societal forces keeping the gender gap alive. The central government exceeded its 30-percent target for the hiring of women for career-track positions, raising the rate to 34 percent this year from 24 …

By Luis Leoncio Property developer 8990 Holdings Inc. will soon offer homeowners in its subdivisions in General Trias, Cavite, the option of prepaid electricity service through the Manila Electric Co. (Meralco).

East West Banking Corp. (EastWest) has secured the approval of the Securities and Exchange Commission (SEC) for a proposed joint-venture insurance business with Belgian firm Aegas Insurance International N.V.

By Jerry Maglunog The 512 rural banks (RBs), fast becoming an endangered breed, are mostly in dire need of white knights, according to the president of the Rural Bankers’ Association of the Philippines (RBAP).

By Riza Lozada Listed Philippine Business Bank Inc. (PBB) had spent P200 million for branch license acquisition in accordance with its prospectus for its initial public offering (IPO) conducted in 2013 that raised P3.008 billion. 

Tokyo—Tucked in a shabby alley of Shibuya, Japan’s Silicon Valley, is a startup that’s done the almost impossible: win funding from the country’s notoriously conservative banks.