By Miguel R. Camus
Malaysia’s AirAsia Berhad, one of the largest budget carriers in the region, extended an $18-million loan (P788 million) to its Philippine unit, which it said would post a profit by the second half of 2014, according to a top official and regulatory filings.
By Paolo G. Montecillo
Loans from the central bank’s rediscounting facility continued to shrink at the end of March of this year because of the cheap cash now circulating in the local financial system.
Small businesses, which account for more than a third of economic activity in the Philippines, cannot thrive without proper access to credit from formal sources, the Asian Development Bank (ADB) said in a new report.
Philippine Bank of Communications has graduated from a 10-year government assistance program with the full settlement of a P7.6-billion loan from the state-owned Philippine Deposit and Insurance Corp.
Globe Telecom Inc. is tapping long-term debt to finance capital expenditures next year, a filing Thursday at the Philippine Stock Exchange showed.