Corporate

China Banking Corp., the country’s 5th largest lender by assets, sustained its growth momentum in the first quarter, posting a net income of P6.8 billion, up 4 percent year on year, as lending and deposit activities continued to drive performance despite a still evolving interest rate environment.

Energy company ACEN Corp. said it is considering several ways to raise additional capital within the next 6 to 12 months to support its renewable energy (RE) projects.

A deepening corporate power struggle inside one of the Philippines’ most influential business families has escalated into a regulatory flashpoint, with the controlling shareholders of Lopez Inc. calling for an official probe into alleged disclosure lapses tied to major energy transactions and so-called "poison pill" provisions.

Lenovo has appointed Sumir Bhatia as its first chief commercial officer for the Asia Pacific region.

Jollibee Foods Corporation said Wednesday its coffee brand Highlands Coffee continues to perform strongly, boosting the group’s Coffee & Tea business.