InDrive forecasts double the user base by year end
Global ride-hailing app InDrive on Tuesday projected rounding the year with twice the number of partner-drivers in Metro Manila.
Farm trade deficit widens in 2Q despite higher farm exports
The Philippines continued to experience a significant agricultural trade deficit in the second quarter of 2024, even as agricultural exports saw a double-digit increase. The deficit widened to USD3.07 billion in the second quarter after a trade gap of USD2.62 billion in the first quarter of the year.
SFA Semicon readies tender offer for 204.9 million SFA Philippines shares in Oct
South Korea’s SFA Semicon Co. Ltd. will make a tender offer for stocks of its unit, SFA Semicon Philippines Corp., that it doesn’t own to pave the way for the voluntary delisting of the semiconductor company on the Philippine Stock Exchange.
Average rates in treasury bills mixed at Monday’s auction; issue upsized to P22.6 billion
Treasury bill yields were mixed at the auction Monday, with average rates on six- and 12-month debt papers slightly higher despite strong demand.
Total bids for the P20 billion offer was nearly three times at P53.5 billion, allowing the Bureau of the Treasury to increase the amount awarded to P22.6 billion.
Cabangon Chua Group divesting from Citystate; HK-listed firm buying 26.8 stake for P735.9 million
Citystate Savings Bank Inc. said Monday several shareholders of the listed lender, including the estate and other companies of the late Amb. Antonio Cabangon Chua, have agreed to sell their stakes to Singapore-based CS Capital Investments Pte. Ltd, a wholly-owned subsidiary of Hong Kong-listed CSC Holdings Ltd.
