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Robinsons Retail raises stake in BPI to 6.8% for P19.7B

Corporate Context.ph Context.ph -
Robinsons Retail Holdings Inc. raised its stake in Bank of the Philippine Islands to 6.8% by purchasing an additional 4.4% of the lender for...

Philippines on track towards meeting forecast 7.2% growth in 2022 – World Bank

Top News Context.ph Context.ph -
The Philippines is on track towards achieving growth in 2022 averaging 7.2 percent in terms of the gross domestic product, the World Bank said in the January 2023 iteration of its Global Economic Prospects report.

Malacañang to make permanent  joint memo facilitating quick telco tower construction

Transport & Logistics Context.ph Context.ph -
The Private Sector Advisory Council (PSAC) has convinced Malacañang to make permanent a soon-to-expire joint agreement making it easier for the telecommunications companies to build telco towers helping speed up the country’s drive towards the digitalization of transactions.

Philippine Business Bank Completes P1.25B Private Placement, Gears Up For P500M Rights Offer

Banking & Insurance Context.ph Context.ph -
Philippine Business Bank said on Friday that the subscription to 125 million shares that were privately placed last year with the bank’s principal shareholders have been completed, setting up the second part of a plan to raise its authorized capital by P1.75 billion and increase lending activity.

SMC unit to provide 350,000 Bulacan households affordable drinking water by Q1 2025 

Corporate Context.ph Context.ph -
San Miguel Corporation (SMC), through its Luzon Clean Water Development Corp. (LCWDC), will make available affordable water from the Angat reservoir to more than...
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Monsoon rains dampen 7-Eleven sales; company eyes long-term growth amid challenges 

Corporate 0
Philippine Seven Corp. (PSC), the operator of 7-Eleven convenience stores in the country, has reported a significant dip in sales, by as much as 20 percent, attributed to the incessant monsoon rains experienced over the past two weeks. Despite a strong performance up until July, bolstered by its annual "7-11 day" promotion, the company acknowledges the sensitivity of its sales to adverse weather conditions.

Habagat, TCs Luis & Maymay damage to agriculture sector reaches P1.42B

Agriculture 0
The Department of Agriculture (DA) reported a P1.42 billion damage to the agriculture sector due to the enhanced southwest monsoon (Habagat) and Tropical Cyclones Luis and Maymay, as of August 17. This figure rose from P1.03 billion earlier that day.

BPI eliminates corporate PESONet fees via BizLink to drive business efficiency

Banking & Insurance 0
To boost business operations and lower digital transaction hurdles across the country, the Bank of the Philippine Islands (BPI) has waived all PESONet transfer fees for payments processed through the Pay Non-BPI disbursement feature on its corporate platform, BPI BizLink.

TD SYNNEX expands IBM distribution footprint across Asia Pacific, Europe and Latin America

Communications & Technology 0
Tech Data, a TD SYNNEX company and leading global IT solutions distributor, has announced the expansion of its IBM distribution network. The initiative covers 20 new markets across Asia Pacific, Europe, and Latin America. In the Asia Pacific region, the expansion adds six new markets – Hong Kong, Macau, Malaysia (operating under the Tech Data brand there), Indonesia, Cambodia, and the Philippines. This builds on the company’s existing IBM operations in Australia, India, Singapore, and Vietnam, bringing the total number of APJ markets supported to ten.
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