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By Eileen A. Mencias
Lack of viable investment instruments has delayed the release of P30 billion in government assistance to ailing United Coconut Planters Bank.
Ayala Land gets P2.4-b funding for expansion
By Jenniffer B. Austria
Property giant Ayala Land Inc. yesterday secured a P2.38-billion financing facility to help fund the company’s capital expenditures this year.
Thailand’s PTT investing P500m in gas stations
By Alena Mae S. Flores
PTT Philippines Corp., a subsidiary of PTT Public Co. Ltd. of Thailand, will invest P500 million for its expansion plans in the country this year, a ranking company official said.
Higher ‘sin taxes’ to yield minimal revenues
By Lawrence Agcaoili
The Finance Department sees added revenues arising from higher excise tax on sin products such as cigarettes and liquor to hit only P500 million this year due to the practice of manufacturers to advance their withdrawals to avoid paying higher rates.
Meralco protests bourse fine, denies violating rules
Manila Electric Co. yesterday said it will pay “under protest” the P150,000 fine imposed by the Philippine Stock Exchange for non-disclosure of its dispute with Land Bank of the Philippines involving 42 million shares of the company.
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