Business

The Securities and Exchange Commission (SEC) approved the change of name of insurance holding company Generali Pilipinas Holding Cp. Inc. (GPHC) to BDO Life Assurance Holdings Corp. (BDO Life Holdings), and its wholly-owned life insurance company, Generali Pilipinas Life Assurance Company Inc. (GPLAC), to BDO Life Assurance Company Inc. (BDO Life), BDO Unibank reported to the Philippine Stock Exchange.

By Riza Lozada
 To comply with market regulators’ requirements on a P70-billion megadeal, listed Liberty Telecoms Inc. (LIB) will voluntarily delist from the stock market,  as its shares will be the subject of a tender offer.
  

Listed property giant SM Prime Holdings Inc. will start with the development of its P94 billion reclamation project in the cities of Pasay and Parañaque with a combined size of 600 hectares after getting approval from the next administration.
    

Bloomberry Resorts Corp., the listed developer and operator of Solaire Resort and Casino, has signed a deal to sell its controlling stake in its hotel and casino in South Korea’s Jeju Island for about P4.76 billion.

The Securities and Exchange Commission (SEC) has approved the P20-billion fixed rate bonds offering of conglomerate Ayala Corp. under its debt securities program.

Bond yields in most emerging East Asian markets continued to track lower from March 1 to May 15, except for the Philippines and China, as investors factored in forecasts of continued slow growth for the global economy, Asian Development Bank’s (ADB) latest Asia Bond Monitor said.

Any change in the Bangko Sentral ng Pilipinas (BSP) policy rates is expected to happen only in the first half of 2017, the Australia and New Zealand Banking Group Ltd (ANZ), the fourth largest bank by market capitalization in Australia, said after the BSP kept monetary policy settings unchanged last week. 

By Riza Lozada Government regulator National Telecommunications Commission (NTC) plans to bid out new frequencies for broadband Internet on the heels of the recent mega deal in which telecommunications giants Globe Telecom and Philippine Long Distance Telephone Co. (PLDT) bought San Miguel Corp. (SMC) unit Vega Telecom Inc. for P70 billion to primarily access the 700 megahertz (MHz) band allocated …

Dominant power distributor Manila Electric Co. (Meralco) has obtained Energy Regulatory Commission (ERC) approval for its P15.5 billion capital expenditures for this year, the company reported to the Securities & Exchange Commission (SEC).

Globe Telecom has sought government help to develop broadband access in the Philippines by investing in internet infrastructure in rural and far-flung areas if the country hopes to achieve its economic development goals and social inclusion of all communities.