35-day T-bill rate fell to lowest-ever after hefty BSP easing

MANILA, Philippines — The Bureau of the Treasury on Tuesday sold P15 billion in 35-day T-bills at 1.684 percent, the lowest-ever rate for the short-dated securities revived at the height of the COVID-19 lockdown. Tuesday’s auction generated P62.5 billion in bids, making it over four times oversubscribed. National Treasurer Rosalia V. de Leon attributed the […]

AGI’s Q1 net profit down 32%

Kevin and Andrew Tan FILE PHOTO Tycoon Andrew Tan-led Alliance Global Group Inc. (AGI) saw a 32-percent year-on-year drop in first quarter attributable net profit to P3 billion as the eruption of Taal volcano and the start of the local coronavirus contagion battered...

Fruitas’ Q1 profit up 41%

Leading local multi-brand kiosk operator Fruitas Holdings Inc. (FHI) grew its first quarter net profit by 41 percent year-on-year to P14.6 million on the back of higher margins from price increases and cost-cutting measures. “We experienced strong sales growth in the...