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Bank of Commerce

Bank of Commerce is one of the country's progressive financial institutions. Its success is due in part to its shareholder strength. Their continued trust and support has made it possible for the bank to engage in expansion activities as well as meet the prescribed capital requirement of the Bangko Sentral ng Pilipinas (BSP) for commercial banks. It also recognizes the diversified backgrounds and needs of its clientele, hence, its products are designed to suit individual needs. These needs co...

RP asks US: Redeploy troops for Luzon rescue

MANILA - The Philippine government has asked the United States to redeploy its troops to help in relief and rescue efforts in storm-hit areas in northern Luzon. "The NDCC (National Disaster Coordinating Council) requested from the US embassy on the re-deployment of US military forces to Northern Luzon for humanitarian assistance and disaster response operations," the agency said in its report on Friday morning. US Ambassador to the Philippines Kristie Kenney on Thursday said US troo...

Lopez family eyes geothermal investments abroad; may sell Meralco stake

MANILA - The Philippines' powerful Lopez business clan will sell its remaining 13.4% stake in Manila Electric Co. (Meralco) if it gets an attractive offer, or if it needs to make other investments or pay down debt, the family patriarch said on Friday. Oscar Lopez, chairman of the Lopez family's power conglomerate First Philippine Holdings Corp., also told Reuters the group plans to subscribe to its geothermal unit First Gen Corp.'s rights offer before the year ends even as it pursues more inves...

RP firms face man-made, natural crises

MANILA - Just when they thought that they were saddled enough by the effects of the economic crisis, a number of Philippine firms had to endure the impact of natural calamities on their day-to-day operations. Utility companies, banks, airlines, and hotels, among many others, bore the brunt of tropical storm “Ondoy” (international code name Ketsana) and typhoon “Pepeng” (international code name Parma) in the past weeks. As these storms caused a halt on normal operations, these companies incurr...

US to assist in Luzon rescue operations

MANILA - Additional rescue equipment are being sent to help in the evacuation of residents affected by massive flooding and landslides in the provinces of northern and central Luzon. Armed Forces of the Philippines (AFP) Chief-of-Staff Victor Ibrado said several rescue equipment like helicopters and rubber boats will be brought to Northern Luzon Command for the rescue operations. “Early this morning, nandito na ang helicopter natin ng Philippine Air Force. Aside from the equipment that has be...