DAVAO CITY — Due to infestations, banana growers in Davao are seeking the help of the government as the entire banana industry is threatened. 

Dizon Farms board secretary Madeline D. Marfori, who is also president of the Pilipino Banana Growers and Exporters Association, Inc. (PBGEA), made the appeal to Binay, pointing out that it was very [...]

PASAY CITY — Philippine Airlines (PAL) has posted a net loss of US$ 39.4 million in the second quarter of its fiscal year ending March next year mostly because of skyrocketing jet fuel costs.

In a filing with the Securities and Exchange Commission (SEC), PAL said its total comprehensive losses in July to September were higher [...]

MANILA — The Philippine economy is likely to grow at least 5 percent in the third quarter compared to the previous quarter, according to a market report.
“Because of the continuously strong industrial sector, decent national government spending and OFW remittances, strong growth in China and US and the easing euro-zone crisis, it has become more [...]

MANILA – The Philippines’ balance of payment (BOP) position rose to US$ 9.93 billion in end-October 2011 from month-ago’s US$ 9.72 billion.
Data released by the Bangko Sentral ng Pilipinas (BSP) show that the BOP surplus in the first 10 months this year was also higher than year-ago’s US$ 9.2 billion.
However, the US$ 208-million surplus last [...]

By CLAIRE M. TRUE
HONOLULU – Business leaders  welcomed new legislation giving US citizens access to the APEC Business Travel Card scheme, a crucial tool for business travel in the Asia-Pacific region.
US President Barack Obama signed the bill here before addressing business executives at the APEC CEO Summit in Honolulu, describing the scheme as an “APEC [...]

QUEZON CITY – ABS-CBN Corp. chalked up a net income of P2.2 billion during the first nine months of the year.
This means the revenues fell by more than a fifth in the first nine months of the year, mostly because of weak advertising sales.
The Lopez-led broadcasting network said net profit in January to September [...]

MAKATI CITY – Henry Sy-led SM Investments Corp. (SMIC) has set aside  a record P56.8 billion for expansion next year to ensure steady profit.
The budget  would fund new malls in the Philippines and in China where it has now four malls, said SMIC President Harley T. Sy.
Part of the expansion of the conglomerate, owned by [...]

PARANAQUE CITY – The Philippine Amusement and Gaming Corp.’s (PAGCOR) Entertainment City Manila project in Paranaque City got a boost with the recent signing of a management service agreement with one of its franchise holders and a US-based hotel and casino operator.
Sureste Properties, Inc. (Sureste) and its wholly-owned subsidiary Bloomberry Resorts and Hotels, Inc. (Bloomberry) [...]

MANILA – The Philippines’ gross international reserves (GIR) amounted to US$ 75.6 billion as of September 2011, lower by US$ 3 million than the revised figure last August amounting to US$ 75.9 billion, according to the Bangko Sentral ng Pilipinas (BSP).
BSP Governor Amando Tetangco Jr. attributed the slight decline to the national government’s (NG) payment [...]

MANILA — Money sent home by overseas Filipinos continue to rise with last July’s inflows reaching US$ 1.7 billion, bringing the total in the first seven months this year to US$ 11.4 billion.
Data released by the Bangko Sentral ng Pilipinas (BSP)  showed that inflows last July alone is up by 6.1 percent against year-ago’s US$ [...]