PNB to bolster core business with exit from Bahrain

MANILA, Philippines — Philippine National Bank’s (PNB) move to let go of its Bahrain operations and dissolve two of its units would allow it to cut costs and focus on expanding its core business, according to an analyst. Ron Acoba, chief investment strategist at Trading Edge Consultancy, told the Inquirer PNB could still serve its Continue reading PNB to bolster core business with exit from Bahrain

PSEi falls below 6,000, peso weakens further as corruption woes escalate

MANILA, Philippines — The local stock barometer broke the 6,000 barrier on Monday while the peso slipped further into the 58 level against the US dollar as alleged corruption in government flood control projects unsettled investors. The benchmark Philippine Stock Exchange Index (PSEi) slipped to a six-month low of 5,997.60, down by 0.49 percent, extending Continue reading PSEi falls below 6,000, peso weakens further as corruption woes escalate

MREIT doubling portfolio with Megaworld assets

MANILA, Philippines — MREIT Inc. plans to double its portfolio to one million square meters (sq m) of gross leasable area (GLA) by 2027 by targeting the retail assets of its sponsor, Megaworld Corp. MREIT disclosed on Monday they wanted to take advantage of continued growth in consumer spending and strong momentum in mall leasing. Continue reading MREIT doubling portfolio with Megaworld assets

Integrity of notarized documents

MANILA, Philippines — At last week’s hearing of the Senate blue ribbon committee on anomalous flood control projects, Orly Regala Guteza, a witness presented by Sen. Rodante Marcoleta, testified that he delivered suitcases containing money to the residence of former House Speaker Martin Romualdez and Rep. Rizaldy Co. Shortly after he submitted his affidavit to Continue reading Integrity of notarized documents