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By Eileen A. Mencias
Major stockholders of Philippine Bank of Communications have picked the Macquarie Group as financial adviser to the sale of a majority block in the bank, PBCom insiders told the Standard Today.
WB agrees to increase RP loans to $1b a year
By Lawrence Agcaoili
Finance Secretary Margarito Teves said yesterday the World Bank is willing to increase its lending program to the Philippines by as much as $1 billion a year in the next four years despite the controversy surrounding its shelved road project.
Moody’s keeps positive outlook on credit rating
Moody’s Investors Service yesterday kept its positive outlook on the Philippines due to a strong banking system and steady balance of payments position amid the global economic downturn.
Alliance Global allots P5b for stock rights
By Jenniffer B. Austria
Alliance Global Group Inc., a company controlled by businessman Andrew Tan, will allocate up to P5.1 billion to subscribe to the stock rights offering of its property arm Megaworld Corp.
BSP says ‘hot money’ nets $222m
Foreign portfolio investments, or “hot money,” registered a net inflow of $221.59 million in January in stark contrast to an outflow in December, the Bangko Sentral ng Pilipinas reported yesterday.
By Victor C. Agustin
WORRIED about the growing defiance and the increasing media noise being generated by the 15 SGV partners opposed to integration, Ernst & Young has dispatched to Makati its tax managing partner for the Far East region, the Hong Kong-based John Nicolai, to end the revolt within the country’s largest audit firm.
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