Business


Front Page: Business grow more bullish about economy
COMPANIES grew more upbeat about the local economy during the second quarter as they expect stronger consumer demand and increased public spending, results of a recent survey conducted by the Bangko Sentral ng Pilipinas (BSP) showed.


Corporate News: SteelAsia forges deals with Russian steel makers

STEELASIA Manufacturing Corp., the Philippines’ leading steel company, has forged supply and technology cooperation deals with two of Russia’s largest steel makers that will enable the firm to take part in the government’s ambitious infrastructure program.


Finance: BSP seeks to strengthen banks’ governance
THE Bangko Sentral ng Pilipinas (BSP) is eyeing enhanced corporate governance rules for banks, which include changes in the term limits for independent directors alongside the inclusion of environmental protection measures in a board’s decision-making process.


Stock Market: Philippine stocks snap 5-day winning streak
LOCAL share prices took a breather at the close of the week after a five-day winning streak, as investors locked in gains amid lack of leads.


Economy: Inflation seen slower this month
INFLATION could have slowed slightly in May on the back of lower oil and power rates which tempered the impact of higher rice prices, the Bangko Sentral ng Pilipinas (BSP) said on Friday.


Nation: Foreigners involved in deadly Philippine urban battle, govt says
MARAWI — Foreigners are among Islamist gunmen battling security forces in a southern Philippine city, the government said Friday as the reported death toll from four days of clashes climbed to 46.


Front Page: Gov’t scrambles to assure over clashes
A TOP economic manager yesterday said the country’s overall economic growth promise remains intact even as government forces struggled to flush out militants still holed up in Marawi City, an incident that had prompted President Rodrigo R. Duterte to put Mindanao under martial law and to warn that he was ready to extend the regime nationwide.


Corporate News: PLDT credit rating affirmed despite higher country risk

STANDARD & Poor’s Ratings Services (S&P) has affirmed PLDT Inc.’s “BBB+” long-term corporate credit rating and assigned a “stable” outlook despite the Philippines’ “increased risk,” citing good prospects for the business and the strength of its balance sheet.


Finance: Banks build up capital buffers ahead of leverage ratio rollout
PHILIPPINE BANKS are generally ready to comply with the leverage ratio standard even as of end-2016, even as the central bank has pushed back its implementation to next year, according to preliminary estimates from the Bangko Sentral ng Pilipinas (BSP).