DAVAO CITY — Mindanao is leading the growth in the country?s insurance industry, with better potentials compared to Luzon and the Visayas, insurance officials said on Wednesday.
Mindanao, in fact, is the highest growing market for all the products of Philam Life, one of the country?s top insurance companies.
By Germelina A. Lacorte
davaotoday.com
DAVAO CITY — Davao is looking forward to the signing of a ?sister city? agreement with Nanning, a city in Guanxi province in China, to access opportunities in that country?s fast-growing consumer market in the future.
Davao officials here are trying to forge a ?sister city? agreement with Nanning City to boost trade, economic and tourism activities between the two regions.
“Just as Nanning will be Davao’s gateway to China, Davao will also be Nanning’s gateway to the East Asean Growth Area (Eaga),” Davao city mayor Rodrigo Duterte told Nanning city delegates here last week, referring to the backdoor economic polygon composed of Brunei, Indonesia, Malaysia and the Philippines (BIMP).
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DAVAO CITY — Aboitiz Equity Ventures, Inc. (AEV) ended 2005 with a net income of P3.16 billion, 29% higher than its restated 2004 net income. This translates to earnings per share (EPS) of P0.65.
As a result of the adjustments made to comply with new accounting standards, the net income figure for 2004 was restated upward by P121 million. Earnings before interest, taxes, depreciation and amortization (EBITDA) increased by 9% to P6.36 billion. Consolidated revenues in 2005 increased by 21% to P27 billion.