In 10 days—or right after the annual stockholders’ meeting of Ayala-led Bank of the Philippine Islands—the country’s most valuable bank will have a new president, investment banker Cezar Consing, who certainly has very big shoes to fill.
The construction of the second phase of the Ninoy Aquino International Airport (Naia) Expressway is facing delays after the government granted interested investors six more weeks to submit their bids.
Conglomerate Ayala Corp. sold bulk of its treasury stocks overnight to build up cash as it embarks on a $1-billion five-year capital spending program for new businesses, particularly power generation and transport.
