PBB books higher Q1 profit

PHILIPPINE Business Bank, Inc.’s (PBB) net income in the first quarter surged by 93.4% to P309.96 million on the improved performance of its core businesses. The bank said in a disclosure to the stock exchange on Thursday that its first-quarter performance went up from the P160.23 million it booked in the same period last year. […]

MREIT eyes fresh P15B property infusion

MREIT Inc., the Reit company of township developer Megaworld, reiterates its commitment to deliver on its P20 billion acquisition plan for 2022. In line with this, the company is already in discussion with sponsor Megaworld for the infusion of an additional P15 billion worth of commercial assets. This follows the announcement last month of MREIT’s […]

Worst COVID outbreak leaves Taiwan insurers bracing for more than $1 billion in claims

TAIWAN’S worst coronavirus disease 2019 (COVID-19) outbreak has left the island’s insurers bracing for more than $1 billion in claims that the financial regulator is urging them to honor. The head of the Financial Supervisory Commission (FSC), Huang Tien-mu, has ordered insurers to pay out on valid COVID-related insurance policies after they faced criticism from […]

Flag carrier to start first-ever Bangsamoro route in June

FLAG carrier Philippine Airlines (PAL) announced on Thursday that it will start regular fights between Cotabato City and Tawi-Tawi in June. The airline is “inaugurating the first-ever air links within the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM),” PAL said in an e-mailed statement. “Commencing on June 9, 2022, the new Cotabato – Tawi-Tawi – Cotabato PAL […]

BIR collections fall behind DBCC target

COLLECTIONS by the Bureau of Internal Revenue (BIR) in the first quarter this year is 8.9 percent short of the goal set by the Development Budget Coordination Committee (DBCC).The BIR only collected P47.2 billion as businesses avail themselves of the provision allowing outright crediting of their input value-added tax on capital goods under the Tax […]