Corporate
Robinsons Retail net income drops 30% to P4.1B in 2023 on FX losses
Robinsons Retail Holdings Inc. said Thursday net income last year dropped nearly 30 percent to P4.1 billion due to foreign exchange losses resulting from the peso's appreciation and a loss of equalized earnings with the derecognition of Robinsons Bank’s net income following the bank's merger with the Bank of Philippine Islands, and losses from start-up investments.
Stocks, yields slide as Fed signals no rate cut soon
Treasury yields and a gauge of global equities fell sharply after the Federal Reserve left interest rates unchanged as expected on Wednesday but indicated it would not reduce them until inflation was "moving sustainably" towards its 2 percent target.
Competition agency clears Aboitiz Equity acquisition of Coca-Cola Bottlers
The Philippine Competition Commission has given the green light for Aboitiz Equity Ventures Inc. to proceed with the acquisition of beverage maker Coca-Cola Beverages Philippines Inc.
Concepcion Industrial companies report tripling 4Q-2023 income
Concepcion Industrial Corp., best known for its refrigerators and air conditioning units, reported almost tripling its earnings in the fourth quarter to P177.9 million on the basis of better margins and solid sales performance.
Ovialand defers yet again a proposed P2.2-billion IPO
Property developer Ovialand Inc. has put off yet again plans to raise funds through an initial public offering after having found listed Tokyo-based real estate firm Takara Leben as partner in upcoming development projects.
