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Bank of Commerce, now majority owned by San Miguel Corp., will increase its authorized capital stock to P10 billion from P4 billion and has sought universal banking license from the Bangko Sentral.
PLDT profit fell 4% to P34.6b in ’08
By Roderick T. dela Cruz
Telecommunications giant Philippine Long Distance Telephone Co. yesterday announced a consolidated net income of P34.6 billion in 2008, down 4 percent from a year ago. The company’s revenues rose 5 percent, after recording nearly five million more wireless subscribers last year.
Lucio Tan’s beer firm seeks status quo on taxes
By Lawrence Agcaoili
Asia Brewery Inc., the beer and beverage unit of airline and tobacco magnate Lucio Tan, urged lawmakers to maintain a status quo on the excise tax rate slapped on cigarettes and liquor in light of the global economic meltdown that has spread to emerging economies, including the Philippines.
By Alena Mae S. Flores
Lopez-controlled Manila Electric Co. has pending petitions with the Energy Regulatory Commission to recover various charges totaling P11.468 billion, the company said yesterday.
Bourse welcomes approval of property investment bill
The Philippine Stock Exchange yesterday welcomed the Senate’s approval of a bill that gives investors a wider participation in the ownership of real estate and related assets.
Ayala replaces younger man with older fellow
By Victor C. Agustin
SIXTY is the retirement age in Ayala Group and in other large, professionally-run companies.
By Gerry Geronimo
It was the banking industry’s good fortune that the Supreme Court, in a very timely manner, on Nov. 24, 2008 restrained, until its further orders, the Court of Appeals from implementing and enforcing its decision dated Sept. 30, 2008 which affirmed the temporary restraining order issued by the Regional Trial Court of Manila (Branch 28) against the Bangko Sentral.
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