Business

Payments by the national government of its maturing foreign debt along with the Bangko Sentral ng Pilipinas’ (BSP) foreign-exchange (forex) operations resulted in the drop of foreign reserves in January. 

Real estate is becoming the favored destination of any company that are headed for diversification. Leading conglomerate San Miguel Corp., which has been diversifying from the food and beverage business since the early 2000s, said the margins in real-estate venture are one of the highest among all businesses. “Name any corporation that is expanding, definitely the additional equity will go …

In the Philippines, the city of Marikina alone produces 150 million pairs of shoes every year. That’s 150 million shoeboxes hoarded or turned to waste. But what once was discarded has now been transformed into an instrument of hope. 

Thanks to the continuity of the European Union in support of the Bangsamoro Peace Process, Konrad Adenauer Foundation Philippines Office (KAS) was awarded a grant to promote the political development in Muslim Mindanao. Since 2007, the EU has invested more than P650 million in programs that contribute to the peace process in southern Philippines. 

Owning a home is every Filipino’s dream. With growing purchasing power, stable interest rates, and a more competitive real estate market, an increasing number of Filipinos are buying homes in Metro Manila and cities such as Cebu, Iloilo, and Davao. 

By Riza Lozada Listed firm 8990 Housing Development Corp. has been named the top developer in the country by the Home Development Mutual Fund (Pag-IBIG) in terms of take-out value.

Local bourse operator Philippine Stock Exchange Inc. (PSE) held its annual Philippine Corporate Day in Tokyo, Japan on January 28 and 29 in partnership with DBP-Daiwa Capital Markets Philippines.

Leisure and Resorts World Corp. (LRWC) had formed an 80 Percent owned information technology unit LR Data Center and Solutions Inc. (LRDCSI). 

Chemical distributor SBS Philippines Corp (SBS) has appointed Gerry Tan as president and CEO effective last January 29 in place of SBS founder Necisto Sytengco, who was also former interim president and current chairman of the board and executive committee.

Telecommunications giant Globe Telecom was named among Asian companies with the most active capital investment in Asia as it posted one of the highest capital expenditure (capex)-to-revenue ratio among telcos in the region in the past two years showing how aggressive the company has been in upgrading and enhancing its network infrastructure.