SMIC profit jumps 13% in 2018
SM INVESTMENTS Corp. (SMIC) increased its earnings by 13% in 2018, as the company’s property, banking, and retail units continued to show steady growth.
Meralco in talks with ALI to put up microgrids in resort areas
MANILA ELECTRIC Co. (Meralco) is studying the viability of putting up microgrid systems in popular tourist destinations outside its franchise area and replicate the hybrid energy system it is installing on Cagbalete Island in Quezon province.
PCC green-lights sale of Splash to Bangalore firm
THE Philippine Competition Commission (PCC) said it has approved a Bangalore-based company’s plan to acquire Philippine personal care manufacturer Splash Corp.
Wages commission orders bus firms to submit fixed-pay plans
THE National Wages and Productivity Commission (NWPC) called on bus companies to submit their schemes to offer partial fixed compensation of at least minimum wage for bus drivers and conductors, in line with the revised guidelines.
M3, lending growth slow in Jan.
MONEY SUPPLY growth eased in January to post the slowest pace in over six years, matching a softer pickup in bank loans, the Bangko Sentral ng Pilipinas (BSP) said yesterday.
Security Bank earnings drop on lower trading gains
SECURITY BANK Corp. logged a lower net income in 2018, dragged by a decrease in trading gains and higher provisions for income tax.
JPMorgan expands commercial banking staff across Europe, Asia
NEW YORK -- JPMorgan Chase & Co on Wednesday named half a dozen people to a commercial banking team in Europe and new international and Asia-Pacific regional leaders, as the U.S. bank closes in on business clients it hopes to poach from rivals abroad.
Ford’s China joint venture terminates some contracts with job agencies as sales decline
BEIJING -- Ford Motor Co’s joint venture with China Changan Automobile Group has decided not to renew its contract with some agencies supplying it with workers, as carmakers struggle to cope with slumping sales in China.
China Bank profit climbs in 2018
CHINA BANKING Corp. booked higher net income in 2018 propelled by the sustained growth of its core businesses.
New tax amnesty bill addressing vetoed items filed in House
A BILL addressing parts of the general tax amnesty law vetoed by Malacañang was filed at the House of Representatives, one of the original bill’s authors said.
Veto halves expected take from tax amnesty bill, DoF says
THE DEPARTMENT of Finance (DoF) expects to generate around P27 billion from the tax amnesty measures that were not vetoed, or less than half of its earlier projections, with the implementing rules for the law to be released soon.
Voluntary regularization deal up in the air
THE VOLUNTARY regularization plan put forward by the Employers Confederation of the Philippines (ECoP) has not been signed, with ECoP and the Department of Labor and Employment (DoLE) citing various reasons for the plan’s sidetracking, which include a threat by labor groups to prosecute to Secretary of Labor for dereliction of duty.