The Senate has ordered the arrest of a former Budget official after he skipped four hearings that probed alleged medical supply anomalies at the agency. Senate President Vicente C. Sotto III signed the arrest order for on Friday confirmed via Viber that he has signed the arrest order for Lloyd C. Lao, former executive director of the Budget Procurement Service, ...
https://www.sec.gov.ph/ THE Securities and Exchange Commission (SEC) issued a moratorium on the registration of new online lending platforms (OLP) of financing and lending companies ahead of the release of new guidelines that seek to stop predatory lending. The SEC issued a memorandum circular on Nov. 2 that provided for the moratorium in anticipation of the release of new rules that ...
The country's financial regulators on Friday agreed to simplify the process for mergers, consolidations, and acquisitions as part of the government's thrust in promoting ease of doing business. The multi-agency project was signed by the Bangko Sentral ng Pilipinas (BSP), Philippine Deposit Insurance Corp., (PDIC) Securities and Exchange Commission (SEC), Cooperative Development Authority, and Philippine Competition Commission, they said in ...
By Revin Mikhael D. Ochave, Reporter THE new version of the Philippine Mineral Reporting Code (PMRC) will take effect immediately after securing approval from the Securities and Exchange Commission (SEC), according to the Philippine Stock Exchange, Inc. (PSE). The local bourse operator said in a memorandum dated Nov. 4 that the 2020 version of the PMRC aligns with current international ...
LISTED property developer Robinsons Land Corp. (RLC) earmarked P3 billion for a buyback program that seeks to augment its shareholder value. The company said in a stock exchange disclosure on Friday that the share buyback program will not involve any active and widespread solicitation from stockholders and will be implemented in the open market via the trading facilities of the ...
Metropolitan Bank & Trust Co. (Metrobank) said net profit in the third quarter rose sharply after setting aside fewer loan loss provisions, and as income from the core lending business remained weak. Net profit rose 153% year-on-year to P4.482 billion in the three months to September, it said in financial statements filed with the bourse Friday. Nine-month net profit was ...
https://www.pbb.com.ph/ Philippine Business Bank (PBB) said net profit fell in the third quarter after its trading account turned lossmaking in the period. Net profit fell 44% year-on-year to P280.294 million in the three months to September, according to the bank's financial report filed with the bourse Friday. Nine-month net profit came to P804.329 million, down 38% from a year earlier. ...
The peso closed stronger Friday after official indicators pointed to a rebound in trade. The peso closed at P50.33 to the dollar, against its P50.595 finish on Thursday, according to the Bankers Association of the Philippines. Week-on-week, the peso also strengthened against its Oct. 29 level of P50.415. The peso's Friday close was its strongest since it ended at P50.27 ...
COURTESY OF PHILIPPINE STOCK EXCHANGE, INC. PHILIPPINE shares ended higher on Friday as investors reacted to the easing of the country's inflation rate and the further easing of quarantine restrictions in Metro Manila. On Friday, the benchmark Philippine Stock Exchange index (PSEi) increased 137.05 points or 1.9% to end at 7,340.77 while the broader all shares index climbed 53.84 points ...
HONG KONG -- This was supposed to be Jack Ma's finest hour: a year ago to the day, his Ant Group was meant to go public in a $37 billion blaze of glory. Instead, Beijing reined in his empire, abruptly clipping the wings of corporate China's biggest star. Now, to the cautious cheer of investors, the billionaire Alibaba e-commerce tycoon ...