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Robinsons Land profit surges by 394% on various businesses’ comeback

Gokongwei-led Robinsons Land Corp. (RLC) saw a 394-percent year-on-year increase in second quarter net profit to P2.56 billion as earnings from property development, rental portfolio and hotel operations bounced off a low base seen last year at the height of pandemic lockdowns. Amid the reimposition of tight restrictions through early April this year, RLC’s second…

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Petron recovers with P3.87-B income amid improved oil prices, market sentiment

Petron Corp. made a turnaround in the first half of the year, bouncing back with a P3.87-billion consolidated net income after hitting a P14.24-billion net loss in the same period last year, as oil prices picked up and market optimism returned amid the rollout of vaccines against COVID-19. “Though we continue to face some challenges,…

Digital banking to boost financial inclusion in PH

Digital banking is transforming the traditional financial landscape. There are now 249 digital challenger banking players globally, comprised of dynamic digital upstarts and transitioning legacy operators. The Philippines offers an attractive opportunity for this expanding market. The release of the Digital Banking Guidelines in April this year, swiftly followed by agreed licenses for Overseas Filipino…

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23 foreign, local firms vie for Calamba railway project

Philippine construction giants and an array of global contractors and engineering companies submitted bids to build a portion of the P345-billion Philippine National Railways’ Calamba project. In a statement on Thursday, the Department of Transportation (DOTr) called it a “record-breaking” turnout as the firms vied for six contract packages for the construction of 40.5 kilometers…

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PH seen staying on growth track in Q3 on slowing COVID-19 cases

The Philippines is seen avoiding a slowdown in its economic rebound in the third quarter amid relatively lower COVID-19 infections compared to its neighbors suffering from surges and with mass vaccination picking up, UK-based think tank Pantheon Macroeconomics said. The Philippines would also likely join Indonesia and Thailand in achieving instead of 2023, Pantheon Macroeconomics…