Business

The Civil Aeronautics Board (CAB), in a recently concluded board meeting, granted additional entitlements to budget carrier Cebu Pacific (CEB) for international routes from Manila to the United Arab Emirates (UAE), from various points in the Philippines to Taipei and Kaohshiung in Taiwan, and from Manila to key destinations in Russia.

By Riza Lozada The International Container Terminal Services Inc. (ICTSI) will infuse more capital to two subsidiaries through the conversion of the deposit for future stock subscriptions (DFFS) worth $512,548 for subscription of its subsidiary ICTSI Subic Inc. (ISI) and DFFS totaling to $1,537,644 to be converted to advances to ISI, reported to the Philippines Stock Exchange (PSE) the 

Economic managers said the foundation have is in place to ensure continued long-term improvement in fiscal health. 

By Riza Lozada The Metropolitan Bank and Trust Co. (Metrobank), which is the country’s biggest lender, will exercise its option to redeem the entire capital security it floated in the international market worth $125 million on February 15 next year which is the First Optional Redemption Date.

Food manufacturer Rebisco Group founder Jacinto Ng Sr. topped the Bureau of Internal Revenue’s (BIR) biggest 500 individual taxpayers for 2014, dislodging last year’s topnotcher, eight-division boxing champ and Sarangani Representative Emmanuel “Manny” Pacquiao. 

Listed agribusiness giant Roxas Holdings Inc. (RHI) reported consolidated net income after tax amounting to P19 million for fiscal year ending September from P615 million a year ago. Net earnings per share was at P0.01 in 2015, and P0.67 per share in 2014. 

By Riza Lozada Listed Alliance Select Foods International Inc. (ASFII) will pursue the use of the P1 billion in proceeds from its fully-subscribed stocks right offer for working capital, debt servicing and capital expenditures, despite a boardroom dispute that resulted in the court-ordered postponement in the companys’ annual meeting, ASFII said in a report to the bourse. 

By Riza Lozada  Chinabank is infusing P2 billion into its saving bank unit, China Savings Bank Inc. (CSBI), to comply with the Bangko Sentral Ng Pilipinas (BSP)- mandated capital infusion prior to giving its final approval to the merger between CSBI and Planters Development Bank (PDB). 

Union Bank of the Philippines (UBP) will fund P1 billion of the Gaisano group’s Metro Retail Stores Group Inc.’s (MRSGI) expansion plan in Metro Manila. 

By Riza Lozada Telecommunications giant Globe Telecom seeks to raise P1 billion from the issuance of 20 million non-voting preferred shares, the proceeds for which will be used to fund its capital expenditures.