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Cement firms invest P12 B, defer adjustment measures
The Tariff Commission (TC) said the local cement industry has complied with its adjustment plans to be able to compete against imports with P12.1 billion invested so far, although completion of some measures worth P73.8 billion have been deferred up to 2025 because of the pandemic and disruption in the manufacturing, service and transportation.
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ARTA gives FDA ultimatum until May 24
The Food and Drug Administration (FDA) was given until next week, May 24, by the Anti Red Tape Authority (ARTA) to explain for sitting down on hundreds of drug applications from various pharmaceutical companies with complete requirements since 2013.
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AC Energy completes P13-B follow-on offering
Ayala-led firm AC Energy Corporation (ACEN) has completed its P13 billion follow-on offering (FOO) at the local bourse, which it described to have been “warmly received by both Philippine and international investors.”
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Remittances up at $7.6 B in Q1
Cash remittances or fund transfers sent via the banking system reached $7.593 billion as of end-March, up by 2.6 percent year-on-year or from $7.403 billion, the Bangko Sentral ng Pilipinas (BSP) reported on Monday.
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Notice of Annual Stockholders’ Meeting of City & Land Developers, Incorporated
City & Land Developers, Incorporated will hold its 2021 Annual Stockholders’ Meeting on June 08, 2021, Tuesday, at 4:00PM, virtually or via remote communications.
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Increasing supply of agribusiness technicians
The news about agriculture during the first quarter of 2021 reminds us that the road to improving agricultural productivity in the Philippines will be long and difficult. Agricultural production dropped by 3.3 percent, especially due to the large decline in production of livestock and poultry, with hog production shrinking by a whopping 23.2 percent. The saving grace was the increase in crop production of 3.3 percent. This development is in contrast with what happened last year when agricultural production increased in both the second and third quarters as the other sectors of the economy, industry and services, were experiencing double-digit decreases.
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The gov’t anti-communist campaign: Snatching defeat from sure victory
The government launched an anti-communist insurgency campaign about 2 years ago. It has gone horribly wrong, with the main implementors exposing themselves as intellectual pygmies and incompetent buffoons.
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Emperador raising capex 50% to P1.5B
Emperador Inc., the largest global brandy company that owns the Emperador and Fundador brands, is increasing its capital expenditure budget by 50 percent to P1.5 billion to further expand its global footprint.
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PSE lures SMEs to go public—DOF
The Philippine Stock Exchange (PSE) wants to lure small and medium enterprises (SMEs) to go public as the local bourse relaxed listing rules for initial public offerings (IPOs), the Department of Finance (DOF) said.
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FLI earns P736M in first quarter
Filinvest Land, Inc. (FLI) reported a 45 percent fall in attributable net income to P736 million in the first quarter of 2021 from P1.35 billion in the same period last year.
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Century Properties posts P205-M profit
Century Properties Group Inc. reported a 29 percent drop in net income to P205 million for the first quarter of 2021 from P290 million in the same period last year.
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Medgate sees continued increase in teleconsultations
Leading international telemedicine provider Medgate saw a 170 percent increase in local teleconsultations last year and maintained an 80 percent resolution rate.
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Megaworld first quarter earnings drop 33%
Megaworld Corporation, the country’s largest developer of integrated urban townships, reported a 33 percent drop in attributable net income to P2.4 billion in the first quarter of 2021 from P3.5 billion in the same period last year.