News: Long-term capital flows to PH decline

Thursday, August 10, 2023

Long-term capital flows to PH decline

August 11, 2023

As we entered the market, the first stall we encountered was run by an older person who didn't speak English. Across was Mr. H's stall, where he warmly greeted us and took the initiative to introduce the market.

By Josiah Go

Long-term capital flows to PH decline for 3rd straight month

The net inflows of foreign direct investments (FDI) into the Philippines fell for the third month in a row in May, this time by 34 percent to $488 million from $739 million in the same month of 2022. "The decline in FDI net inflows reflected the 70.7 percent contraction in nonresidents' net investments in debt instruments to $161 million from $551 million in the same month last year," the Bangko Sental ng Pilipinas (BSP)said in a statement.

By Ronnel W. Domingo

Mall recovery lifted Megaworld's 6-month income

Billionaire Andrew Tan-led Megaworld Corp. said profit growth had accelerated during the first semester of 2023 as mall revenues surged and residential sales remained robust. Net income from January to June climbed 34 percent to P7.9 billion, while total revenues reached P32 billion, up 17 percent versus the same period in 2022.

By Miguel R. Camus

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BIZ BUZZ

Solving the Holcim conundrum

With the local stock market blindsided by the trading suspension on Holcim Philippines (and some other firms), a petition is now circulating among stock brokers urging the Philippine Stock Exchange (PSE) to find ways to look after the interest of the minority shareholders.

By Doris Dumlao-Abadilla

INQUIRER PLUS-EXCLUSIVE

Bank of Commerce profit increases by nearly 80%

Bank of Commerce, the lending affiliate of conglomerate San Miguel Corp., saw net income during the first semester of 2023 surge nearly 80 percent as its major business segments registered strong growth. From January to June this year, BankCom said net income reached about P1.6 billion versus P887 million during the same period in 2022.

By Miguel R. Camus

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