Business

Govt fiscal position reverts to deficit

July 28, 2014 9:27 pm

IN a reversal of significant surpluses recorded in preceding months, the national government’s fiscal performance reversed to a budget deficit in June amid the government’s efforts to speed up spending during the period. The government posted a primary budget deficit … Read more »

PH stocks weighed down by Wall St before SONA

July 28, 2014 9:26 pm

Local stocks dipped on Wall Street’s previous fall on weaker-than-expected earnings, closing lower before investors had the chance to hear President Aquino’s State of the Nation Address (SONA) on Monday. Harry Liu, president of Summit Securities Inc., told The Manila … Read more »

Fitch sees more PH banks issuing Basel III instruments

July 28, 2014 9:25 pm

DEBT watcher Fitch Ratings said Philippine banks are likely to issue more Basel III-compliant Tier 2 instruments, which will be mostly targeted at the domestic market. The ratings agency based its forecast on assumptions that the issuance will be largely … Read more »

Security Bank seeks board approval for P20-B LTNCD

July 28, 2014 9:24 pm

Commercial bank Security Bank Corp. plans to issue long-term negotiable certificates of deposit (LTNCD) to raise P20 billion additional funds for assets expansion. In a statement, Security Bank said it has submitted to its board of directors a proposal on … Read more »

Canada sees PH as preferred trade and investment partner

July 28, 2014 9:23 pm

THE Canadian government wants the Philippines to be a preferred partner in the trade and investment arena even as it took note of the various economic and reform challenges that still needed to be overcome. “We recognize that the Philippines … Read more »

Holcim H1 net income up 10.3% on PPP projects

July 28, 2014 9:21 pm

Cement producer and distributor Holcim Philippines Inc. posted double-digit growth in net income in the first six months of the year, driven by increased public-private partnership (PPP) construction projects and government spending. “On top of the sustained government and private … Read more »

BDO H1 net profit down 22% on lower trading gains

July 28, 2014 9:20 pm

BDO Unibank Inc. (BDO), the country’s largest bank, reported a double-digit drop in net profit in the first six months of the year in the absence of extraordinary trading gains that sharply boosted earnings in the comparative half of 2013. … Read more »

8990 Holdings H1 net up 20%, on track for FY guidance

July 28, 2014 9:19 pm

Mass housing developer 8990 Holdings Inc. said it is “very much on track” to achieve its net income and sales targets for 2014 following double-digit growth in midyear earnings driven by higher housing sales. At the company’s annual stockholders’ meeting, … Read more »

MNTC warns may miss P8-B revenue target for 2014

July 28, 2014 9:17 pm

The Manila North Tollways Corp. (MNTC), operator of the North Luzon Expressway (NLEX), said it would have difficulty achieving its P8-billion revenue goal for the year without a tariff adjustment. “As far as the whole year is concerned, we’re pretty … Read more »

Batangas Port beefs up role as trade hub

July 28, 2014 9:16 pm

The modern Batangas Container Terminal (BCT), managed by listed Asian Terminals Inc. (ATI), continued to step up its role as trade facilitator in Calabarzon (Cavite, Laguna, Batangas, Rizal and Quezon) during the second quarter as it provided businesses with a … Read more »