Ayala Corp. nets P4.5B in first quarter
By Doris C. Dumlao
Conglomerate Ayala Corp. grew its first quarter net profit by 29 percent year-on-year to P4.5 billion driven by the strong performance of its banking and property businesses.
Conglomerate Ayala Corp. grew its first quarter net profit by 29 percent year-on-year to P4.5 billion driven by the strong performance of its banking and property businesses.
Ayala-led Globe Telecom is raising an additional $120 million for its ongoing network modernization program, which is expected to be completed before the end of the year.
The country’s top telecommunication companies have vowed to continue improving their services to customers following the release of results of the government’s quality of service tests that showed both companies performing at par with each other.
Ayala-led Globe Telecom earlier signed a $120-million loan facility with Metropolitan Bank & Trust Co. to fund its network modernization scheduled to be completed before the end of the year.
With a highly saturated mobile market, Globe Telecom is looking to its mobile browsing segment to sustain growth momentum and reinforce its position as a formidable challenger in the telecommunications industry.
The Globe Telecom 2011 Integrated Annual & Sustainability Report (ASR) has been conferred an Anvil Award by the Public Relations Society of the Philippines (PRSP).
Competition in the local telco industry remained tight as rivals Globe Telecom and Philippine Long Distance Telephone Co. (PLDT) both posted healthy gains in subscriber acquisition, pushing the country’s mobile phone penetration to record highs.
It may have received flack in recent months over transmission problems caused by its ongoing network upgrade, but it is difficult to tell when looking at the postpaid segment of Globe Telecom Inc.
One step back, two steps forward. This was how Globe Telecom Inc. characterized its latest financial performance after it reported a 30-percent decline in its net earnings last year—despite having booked higher sales—as it accelerated spending for its ongoing network modernization program.
Forget Davos. One of the most sought-after speakers in the financial world has landed on local shores (a week after gracing the World Economic Forum in the famous Swiss ski resort) to give his prognosis on the local and global economies.
The ongoing word war over network problems between the country’s largest telcos is set to heat up, as Philippine Long Distance Telephone Co. (PLDT) has accused Globe Telecom of illegally attaching fiber-optic cables to PLDT poles in northern Luzon.
Some big players in the gaming industry are somewhat peeved by the aggressive recruiting tactics of Bloomberry Resorts Corp. of ports tycoon Enrique Razon Jr.
