Tycoon Lucio Tan-led Philippine National Bank has obtained approval from the Securities and Exchange Commission to beef up its authorized capital to P70 billion from P50 billion to make room for expansion.
The country’s leading convenience store operator Philippine Seven Corp. expects to sustain a 25-percent annual growth in store network without spinning out of control, thereby doubling its retailing footprint every three years.
The local chambers of Japanese and American firms have taken up the cudgels for their respective tobacco-manufacturing members to ask the government to stop the makers of “illicit” cigarettes currently flooding the market.
By Paolo G. Montecillo
Medium-term treasury bonds moved in line with secondary market rates at this week’s auction, indicating increasing stability in financial markets, even as interest rates go up.
By Miguel R. Camus
Metro Pacific Tollways Corp. now expects construction of the P18-billion connector road project in Metro Manila to start in 2015—at least a year behind schedule—due to regulatory delays and the recently resolved disagreement within the government on how the project should be implemented.