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AYALA CORP. (AC) reported a 1.4% increase in second-quarter attributable net income to P10.91 billion from P10.76 billion a year earlier, as higher costs tempered revenue growth during the period. Total revenue rose 8.6% to P98.31 billion from P90.52 billion, while costs and expenses increased 10.2% to P75.06 billion from P68.09 billion, the company said […]
Read more →PLDT Inc. saw its second-quarter attributable net income fall 14% to P7.58 billion from P8.81 billion a year earlier, as higher depreciation and amortization and other expenses weighed on earnings. Revenue for the three months ended June rose 2.1% to P55.49 billion from P54.35 billion, while total expenses increased 4% to P42.13 billion from P40.53 […]
Read more →CONVERGE ICT Solutions, Inc. expects growth to rebound in the second half as it continues to add customers to its fiber platform and expand its enterprise business. “We are still adding on customers on our fiber platform, and we do expect that growth… But in addition to that, we have kept on investing in our […]
Read more →PAL HOLDINGS, Inc., operator of Philippine Airlines (PAL), swung to an attributable net loss of P6.12 billion in the second quarter from a P3.33-billion attributable net income a year earlier, as expenses rose faster than revenue amid a surge in flying operations costs. The company reported second-quarter revenue of P51.38 billion, up 10.8% from P46.39 […]
Read more →ROCKWELL LAND Corp. reported a 24.7% increase in second-quarter (Q2) attributable net income to P1.42 billion from P1.14 billion a year earlier, as revenue from real estate sales and leasing increased. Consolidated revenue rose 37.2% to P7.12 billion from P5.19 billion, the company said in its quarterly financial disclosure to the Philippine Stock Exchange on […]
Read more →FILINVEST Development Corp. (FDC) reported a 9.7% decline in second-quarter (Q2) attributable net income to P3.42 billion from P3.78 billion a year earlier, as expenses grew faster than revenue. Gross revenue rose 13.7% to P29.78 billion from P26.20 billion, while gross expenses increased 21.5% to P26.10 billion from P21.48 billion, the company said in its […]
Read more →GLOBAL Ferronickel Holdings, Inc. (FNI) posted a 71.3% increase in second-quarter (Q2) attributable net income to P761.87 million from P444.80 million a year earlier, supported by higher nickel ore prices and stronger overall shipment volumes. Consolidated net income rose 71.9% to P759.71 million from P441.95 million, while revenue increased 52.9% to P3.18 billion from P2.08 […]
Read more →LISTED retailer Puregold Price Club, Inc. reported a 10.8% increase in consolidated net income to P5.87 billion in the first half from P5.30 billion a year earlier, driven by higher sales and improved gross margins. Consolidated net sales rose 10.6% to P121.48 billion from P109.88 billion, the company said in a disclosure on Thursday. “The […]
Read more →THE SOCIAL Security System (SSS) recorded P27.16 billion in investment income for the first half of the year as it continued to invest in the Philippines’ capital market. This translated to an annualized return on investment of 4.53%, excluding realized gains from the sale of equity securities classified as fair value through other comprehensive income, […]
Read more →GLOBE Telecom, Inc. said its use of artificial intelligence (AI) to predict potential network failures and enable preventive maintenance has generated about P200 million in savings. Jennifer Jane G. Echevarria, vice-president and head of enterprise data and strategic services at Globe, said the telecommunications company has recently used generative AI to forecast possible network failures […]
Read more →THE PESO tumbled against the dollar on Thursday due to fading hopes for a peace deal between the United States and Iran as both sides remain at an impasse. The currency weakened by 16.3 centavos to close at P61.343 versus the greenback from its P61.18 finish on Wednesday, data from the Bankers Association of the […]
Read more →TWO of the world’s most celebrated ballet dancers are back in Manila for the staging of the timeless classic, La Bayadère, at the Aliw Theater. For three days, from Aug. 14 to 16, renowned ballet superstars Renata Shakirova and Kimin Kim will headline the show. Ballet Manila’s artistic director Lisa Macuja-Elizalde said at an Aug. […]
Read more →LISTED information technology and electronics retailer Upson International Corp. posted a 47.4% increase in second-quarter (Q2) attributable net income to P110.4 million from P74.9 million a year earlier, as higher sales and improved margins lifted earnings. Gross revenue rose 11.45% to P3.28 billion from P2.95 billion, while gross expenses increased 9.39% to P3.17 billion from […]
Read more →WISE is looking to expand its presence in the Philippines to leverage demand for remittance services and as it looks to help lower international transfer costs for Filipinos. “Personally, what I would like to have in the next three years is for more Filipinos to be familiar with the power of the Wise account — […]
Read more →By Brontë H. Lacsamana, Reporter THE 22nd edition of Cinemalaya is approaching its last few days, and BusinessWorld has watched six of the nine full-length films in competition. Cinemas at select malls in Metro Manila — Shangri-La, Gateway, and Ayala Malls (Manila Bay, Market! Market!, Glorietta, Circuit, and Trinoma) — are currently screening some of […]
Read more →THE FINTECH Alliance PH is backing government and regulator proposals to use the national ID for account onboarding and identity verification to help reduce cyber fraud, especially in the financial space. “FinTech Alliance.PH is definitely supporting BSP (Bangko Sentral ng Pilipinas) and other government agencies, particularly the Information and Communications Technology and Cyber Crime Investigation […]
Read more →BANK OF MAKATI (A Savings Bank), Inc. is looking to push its digital shift and launch more offerings as it seeks to regain its place as the sixth-largest thrift bank in the Philippines in asset terms. “Based on our latest data…, we’re not satisfied with our ranking. In terms of assets, I think we’re just […]
Read more →METROPOLITAN BANK & Trust Co. (Metrobank) has rolled out new security measures on its digital banking application to combat financial fraud and in compliance with the Anti-Financial Account Scamming Act (AFASA). Metrobank said it has updated its mobile app to integrate four new security features, namely, a 24-hour cooling-off period after a major account update, […]
Read more →Pag-IBIG Fund has partnered with Ayala Land residential brands Avida Land Corp. and Amaia Land Corp. to expand housing options for Filipino workers, including middle-income borrowers who can now access loans of up to P10 million.
Read more →In a press briefing, Meralco’s Larry Fernandez, head of Utility Economics, explained that consumers will not feel the full impact of Meralco’s 59-centavo-per-kWh reduction because transmission charge increased by 30 centavos per kwh.
Read more →Core earnings of conglomerate Ayala Corp. fell by seven percent to P22.1 billion in the first half amid lower contributions from its real estate arm and reduced non-operating income.
Read more →Telco giant PLDT Inc. has found new growth drivers in its data centers and digital bank as its broadband and mobile segments struggle to overcome consumer challenges.
Read more →The direct listing of preferred shares as an alternative to traditional initial public offerings (IPOs) will now be allowed as part of the Philippine Stock Exchange Inc. (PSE)’s efforts to democratize access to the stock market.
Read more →Foreign investment commitments approved by investment promotion agencies jumped by 68 percent in the second quarter from a year ago, with the bulk to go to manufacturing activities, according to the Philippine Statistics Authority (PS.
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