Business

The Araneta Center in Cubao, Quezon City, is getting another facelift to make it a garden city, based on a new redevelopment plan for the business district.

AC Energy Holdings Inc., the power unit of Ayala Corp., has scrapped plans to put up a solar project in Sta. Cruz, Davao del Sur province, following a stockholders’ vote.

Banco de oro Unibank Inc. (BDO) and the Japan Bank for International Cooperation (JBIC)-backed Fidea Holdings Co. Ltd.(Fidea Group) signed a memorandum of understanding to promote inward investments, mainly from Akita, Yamagata and Miyagi prefectures in the northern region of Tohoku in Japan.

By Jerry Maglunog Rapid and huge bank financing is expected in 2016, as businesses grow and diversify into other ventures to take advantage of a growing market, a Bangko Sentral ng Pilipinas (BSP) official has predicted.

Listed mass-housing developer 8990 Holdings Inc. continued to book double-digit growth in earnings on the back of strong sales and increased construction capacity in the first nine months of the year. 

By Riza Lozada  Diverse conglomerate of tycoon George Ty, GT Capital Holdings Inc. (GT Capital), posted a 32 percent growth in profit for the first nine months driven by strong sales of Toyota car brands and strong real estate earnings. Consolidated net income rose to P8.4 billion from P6.3 billion a year ago. GT Capital’s consolidated revenue grew 10 percent …

By Riza Lozada JG Summit Holdings Inc. of magnate John Gokongwei posted a core net profit excluding non-recurring items of P20.69 billion for three quarters ending September, a 39.2 percent increase from P14.86 billion a year ago. The main drivers of growth were Cebu Air Inc. (CEB) and JG Petrochemicals Corp (JGPC), the company said in a report. Net income …

The Association of Southeast Asian Nations (Asean) attracted $136.2 billion in foreign direct investments (FDI) in 2014, up from $117.7 billion in 2013, marking a rise of FDI flows for the third consecutive year. 

By Jerry Maglunog While local banks are required to engage in lending to needy sectors, as it is the essence of banking, trading remains the biggest revenue source for most.

Lucio Tan Group Inc. (LTG) reported that its attributable net income for the first nine months of 2015 reached P4.71 billion, 88 percent more than the P2.5 billion profit a year ago.