JG Summit Holdings Inc. of the Gokongwei Group said Monday its core net income doubled to P18.1 billion in the first half of 2024 from the same period last year on the back of a P7.9-billion one-time gain from the merger of the Bank of the Philippine I...

Union Bank of the Philippines (UBP) said Friday it raised P10 billion in fresh capital from a stock rights offering (SRO). UBP said in a stock exchange filing the offering of 327.12 million common shares at P30.57 per share was fully subscribed on robu...

Metropolitan Bank & Trust Co. (Metrobank) said Thursday it concluded its offering of a dual-tranche, 5-year and 10-year US dollar-denominated notes amid strong investor demand. The 5-year and 10-year bonds were priced at 110 and 130 basis points ab...

Shareholders of AREIT Inc. on Monday approved the P28.6 billion property-for-share swap deal with Ayala Land Inc. (ALI) and its subsidiaries. AREIT said in a disclosure to the Philippine Stock Exchange its stockholders owning majority of its outstandin...

Retail tycoon Lucio Co is joining the P170.6-billion bidding to rehabilitate, optimize and maintain the Ninoy Aquino International Airport (NAIA). Cosco Capital Inc., the listed holding firm of Co, said in a disclosure to the stock exchange it would join a consortium that would participate in the government’s plan to bid out the NAIA’s rehabilitation […]
The post Co joins bidding for NAIA operation appeared first on Manila Standard.

Construction firm DATEM Inc. welcomed Megaworld Corp.’s move to post nearly P900 million in counterbond to cover the alleged unpaid obligation being claimed by the contractor. The Quezon City Regional Trial Court Branch 105 on Friday lifted the writ of preliminary attachment (WPA) earlier secured by DATEM against Megaworld after the property firm posted a […]
The post DATEM welcomes Megaworld’s move to post P893-m counterbond appeared first on Manila Standard.

The Securities and Exchange Commission (SEC) said over the weekend it would review the timetable for the implementation of the proposed revised fees and charges after it met with various business groups. SEC commissioner McJill Bryant Fernandez told reporters Friday the new timeline for the implementation of the higher fees would still be approved by […]
The post SEC to review schedule of planned higher fees after meeting business groups appeared first on Manila Standard.

Philippine stocks and the peso moved up Thursday ahead of the Bangko Sentral ng Pilipinas’ decision to keep the benchmark interest rate steady at 6.5 percent. Analysts said local shares sustained their upward momentum as investors took positive cues from Wall Street’s overnight performance. The 30-company Philippine Stock Exchange index added 20.35 points, or 0.33 […]
The post PSE index nears 6,200 level appeared first on Manila Standard.

Local stocks returned to positive territory Friday after the government reported improved employment data. The benchmark Philippine Stock Exchange index climbed 39.87 points, or 0.64 percent, to close at 6,222.94, while the broader all-shares index rose 13.24 points to settle at 3,360.23. Philstocks Financial Inc. research engagement officer Claire Alviar said investors welcomed reports that […]
The post Philippine stocks rise on improved jobs data appeared first on Manila Standard.

State pension fund Government Service Insurance System increased its stake in infrastructure conglomerate Metro Pacific Investments Corp. to 11.98 percent GSIS said in a letter to MPIC it purchased 2.49 billion MPIC shares from the market from Aug. 23 to Sept. 4, 2023. The fund is now the beneficial owner of 3.43 billion MPIC shares, […]
The post GSIS hikes stake in Metro Pacific to nearly 12% appeared first on Manila Standard.