Approved foreign investments hit P27.3 billion in the third quarter of 2023. — PHILIPPINE STAR/EDD GUMBAN FOREIGN INVESTMENT pledges approved by investment promotion agencies (IPAs) more than doubled in the third quarter from the same period a […]
ADB approves $400-M loan to improve PHL tax system
PHILIPPINE STAR/RUSSELL PALMA THE ASIAN Development Bank (ADB) has approved a $400-million loan for the Philippines to reform tax policies and ramp up revenue collection. In a statement on Tuesday, the ADB said the loan will “help […]
Banking industry’s net income climbs by 10% as of end-September
By Keisha B. Ta-asan, Reporter THE PHILIPPINE BANKING industry’s profits climbed by 10.4% as of end-September, driven by higher interest income and lower losses on financial assets, according to central bank data. Preliminary data from the Bangko […]
High interest rates pose risk to PHL growth in 2024
The Philippines grew by 5.9% in the third quarter, picking up from 4.3% in the second quarter. — PHILIPPINE STAR/MIGUEL DE GUZMAN THE PHILIPPINES may find it challenging to achieve the government’s growth target of 6.5-8% next […]
High street beauty retailer The Body Shop with 250 stores is sold in £207M deal
<?xml encoding=”utf-8″ ?????????> The high street beauty retailer Body Shop has agreed to sell its 250 stores in a £207million deal after struggling with profitability. The retail outlets are being sold to a private equity group after owner Natura & Co reached a deal with Aurelius Group today. The Brazilian cosmetics maker […]
Award-winning Birmingham Afro hair care solutions company secures £530,000 investment
<?xml encoding=”utf-8″ ?????????> The investment will come from both the Midlands Engine Investment Fund (MEIF) through the MEIF West Midlands Equity Fund and the West Midlands Co-Investment Fund, in addition to a syndicate of angel investors. Both funds are managed by Midven, part of the Future Planet Capital Group. Nylah’s […]
Ayala income climbs 82% on units’ better showing
LISTED conglomerate Ayala Corp. logged an 82.2% increase in its attributable net income for the third quarter amid higher revenues from its various businesses. The conglomerate said in a stock exchange disclosure on Tuesday that its July-to-September […]
GT Capital’s third-quarter income down 2%, nine-month profit up 54%
LISTED conglomerate GT Capital Holdings, Inc. posted a 2% decline in its attributable net income for the third quarter due to higher costs and expenses. In a regulatory filing on Tuesday, GT Capital said its July-to-September income […]
Alliance Global profit jumps 16% as revenues rise
TAN-LED Alliance Global Group, Inc. (AGI) logged a 16% increase in its net income during the third quarter as revenues surged. In a stock exchange disclosure, AGI said its third-quarter income reached P6 billion while consolidated revenues […]
MPIC posts 22% income growth
PANGILINAN-LEd Metro Pacific Investments Corp. (MPIC) posted a 22% surge in its attributable net income as of September on its subsidiaries’ higher revenues. In a statement on Tuesday, MPIC said its nine-month profit rose to P16.1 billion […]