Business

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The rural banking industry is now starting to feel the effects of the policies laid down by regulators to encourage more growth among rural banks. In the coming months, 13 rural and cooperative banks will get to open new branches after the Bangko Sentral ng Pilipinas gave them authority to…

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Beside the mainstream conventional banks which focuses on profit, Islamic financing (IF) and banks should be taken into consideration in financing the total $8-trillion infrastructure investment needs in Asia, as the whole Islamic funding community has $1.6-trillion lending capability for infrastructure projects. Baljeet Kaur Grewal, managing director and vice chairman…

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LONDON: Two big companies in the United Kingdom are eyeing the Philippines for expansion, as they see the country as the perfect place to settle before branching out to other Southeast Asian countries. On the sidelines of the Philippine Airlines (PAL) London’s inaugural reception held on Tuesday night (Wednesday morning…

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The Bureau of Internal Revenue (BIR) in its latest Tax Watch Campaign ad named the top taxpayers among the professionals in the country. Citing data from the Department of Labor and Employment, the tax bureau said that there are now 3.2 million Filipino professionals in 50 registered professions in the…

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The National Statistics Office (NSO) said on Wednesday that October consumer prices inched up by 0.5 percent in October compared to figures in September due to various adjustments of the production of selected goods during seasonal holidays and suspension of classes and work for the same month. “Seasonal factor like…

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THE Pasay City government has deferred the issuance of its decision on the “critical issues” raised by various parties interested in the reclamation of 300 hectares of land from Manila Bay. Jonathan Malaya, Pasay City government spokesman, said the Public-Private Partnership Selection Committee (PPPSC) decided to defer the issuance of…

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In the Philippines, there is usually a lack of community information, which makes real estate buyers encounter difficulties in choosing a suitable property. But by tapping the power of the Internet, Truepoperty.ph can help property buyers get all the necessary information to find what they consider to be the perfect…

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Real estate giant Ayala Land Inc. (ALI) has confirmed the forging of a joint venture of its unit with the largest trading company in Japan, for the development of the Ortigas Center into a mixed-used lifestyle community. A unit of ALI, Alveo Land Corp., has entered into a joint venture…

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The Philippine Deposit Insurance Corp. (PDIC) is set auction a total of 177 real properties in Mindanao with a combined minimum disposal value of P39.1 million. In a statement, the state insurer said that the selling of the properties will undergo a public bidding on an “as-is, where-is” basis on…

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Two major mining firms reported significant drops in their incomes for the first nine months of the year. Philex Mining Corp. on Wednesday said that its net profit declined by almost a third in the first nine months of the year, as lower metal prices weighed on its bottom line…