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NEWS \ Philippine Business
Today's Date: 4/29/2017

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Environmental call, text service launched
GLOBE TELECOM has launched a 24/7 call and text facility where concerned parties can report environmental crimes and violations. The facility, called Green Line, was kicked off in Bulacan in partnership with various government and private partners.

Stocks up slightly
LOCAL STOCKS were modestly up yesterday partly due to month-end corporate window-dressing as trading resumed after a long weekend holiday.

Yield of 7-year treasury bonds declines 108.9 bps to 5.72%
THE YIELD on seven-year treasury bonds yesterday dropped by more than a percentage point to an average of 5.72 percent as the market for government securities continued to be very liquid.

Firms, gov’t urged to tap ‘cloud’-based services
SHANGHAI, CHINA—Companies and governments the world over will have to go through a paradigm shift if they want to reap the benefits of greater efficiency, lower costs, and increased system control brought about by cloud computing.

Industry seeks tougher law vs signal theft
LOCAL CABLE television operators are asking Congress to pass tougher legislation that will criminalize illegal connections that are costing the industry billions of pesos in losses due to foregone revenue yearly.

Nido starts Tindalo workover
AUSTRALIAN FIRM Nido Petroleum Ltd. is set to begin this month a workover program for the Tindalo oil field in offshore Palawan, to help increase the amount of oil produced in the well.

AUB 7-month profit up 87%
ASIA UNITED Bank (AUB), a medium-sized commercial bank posted a net income of P759.70 million in the first seven months of the year, 87 percent higher than the P406.70 million recorded in the same period last year.

Gov’t natural gas program in danger of collapse
OPERATORS OF compressed natural gas-run buses are urging the Department of Energy to put up alternative facilities and implement other crucial measures that will prevent failure of the Natural Gas Vehicle Program for Public Transport (NGVPPT).

UK bank shrugs off RP price bubble concerns
HONG KONG and Shanghai Banking Corp. (HSBC) believes that the Philippines may continue to accommodate more foreign exchange inflows, shrugging off concerns over asset price bubbles.

Manila still competitive as investment location
AMONG VARIOUS cities in Asia, Manila has emerged as one of the best value-for-money investment destinations due to its relatively low wage rates, liberalized economy, and wealth of talent, according to a recent Japan External Trade Organization (Jetro) survey.

MJC earmarks P1.5B for hotel, resort business
THE MANILA Jockey Club group is breaking into the hotel and resort business by investing about P1.5 billion in two key projects—one at the San Lazaro business park in Sta. Cruz, Manila and the other at its new horse racing complex in Carmona, Cavite.

Fast-rising newbie
THE COUNTRY’S wealthiest man, Henry Sy, has proven that there’s no barrier to entry for him in corporate Philippines.

Investor sentiment to remain bullish despite bloody event
WHILE THE bloody hostage-taking incident on Monday may take its toll on the country’s tourism sector, the central bank said the incident was not likely to stir the capital markets.

Stocks slump on Rizal Park crisis
LOCAL STOCKS fell sharply Tuesday as a bloody hostage-taking incident in Manila weighed down investor sentiment and escalated profit-taking pressures, stock experts said.

SPi Global to double workforce, revenues
PANGILINAN-LED SPi Global Holdings Inc. plans to double the size of its workforce and revenues over the next three to four years in line with the growth of the rest of the local business process outsourcing (BPO) sector.

Beefing up Bank of Commerce
THERE IS a changing of the guard at medium-sized Bank of Commerce ahead of what is expected to be a greater role for the banking arm of diversifying conglomerate San Miguel Corp.

Gov’t eyes infrastructure financing body
THE GOVERNMENT is considering putting up an infrastructure financing body that would oversee development projects expected to drive sustained economic growth, Finance Secretary Cesar V. Purisima said Tuesday.

BSP open to easing single borrower’s cap
THE BANGKO Sentral ng Pilipinas said it was amenable to relaxing the single borrower’s limit (SBL) with the intention of addressing the funding requirements of private companies willing to invest in public infrastructure projects.

Mindoro raises nickel estimate for Agata
CANADIAN MINER Mindoro Resources Ltd. raised its mineral resource estimate for the Agata nickel project in the Surigao gold district “due to a more robust estimation methodology and more detailed information.”

Siemens eyes break in RP wind power market
SIEMENS AG, a global powerhouse in electronics and electrical engineering, hopes to capture a “good portion” of the wind power market in the Philippines, as it aims to play a bigger role in the local renewable energy sector.

Mission Vision Ambition


 

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