Business NEWS

San Miguel Corporation (SMC) today (Dec. 1) reported “generally smooth” traffic along its expressways and toll plazas on the first morning of their 100% cashless toll collection.

The peso closed  higher at  P48.05  to the US dollar Tuesday   from  P48.06 last  Friday. he weighted  average rate appreciated  to  P48.11   from P48.085. Total volume amounted to $722.6 million, according to the Bankers Association of the Philippines.

Emperador, Inc., the world’s largest brandy company, is further expanding its brandy business across North and South America next year.

The local stock market bucked expectations of further corrections and surged on the first trading day of December, kicking off what many hope will continue into a Christmas rally.The PSE soared 218.10 points or 3.21 percent to close at 7,009.56 as the Property and Holding Firms counters led the charge although banks retreated.Volume was lower but remained hefty at 4.04 billion shares worth P10.89 billion with gainers outpacing losers 119 to 102 with 35 unchanged.“Local shares started the first trading day of the month charging past 7,000 as investors positioned for Xmas rally and ahead of 2021. In addition, many bought into shares that were heavily oversold after the MSCI rebalancing last Friday,” said Regina Capital Development Corporation Managing Director Luis Limlingan.AAA Equities Head of Research Chris noted that, “The PSEi rallied today as buyers aggressively picked up shares of blue chips that were battered last week… Investors remain very optimistic which is evident in the market’s movement as well as trading volumes. The optimism came from the expectations of more mobility in the coming weeks as the government lifted certain restrictions to allow more economic activity.”

International Container Terminal Services, Inc. (ICTSI)’s Basra Gateway Terminal (BGT) in Um Qasr, Iraq, recently achieved a record berth turnaround with the 6,589-TEU vessel Yang Ming Mutuality.

Vista Residences, the condominium development arm of the country’s largest homebuilder Vista Land & Lifescapes, Inc., is making its units available on online platform Lamudi. 

Consunji-led Semirara Mining and Power Corporation (SMPC) indicated that it may fall behind its 15 million metric tons of coal production this year, because of its decision to voluntarily defer operation in a block within its Molave mine area due to water build-up conundrum.

Whether in times of disasters or when electricity rates go up and down, he is a familiar face to many Filipinos served by the Manila Electric Company (Meralco) –Agapito “Joe” Del Rosario Zaldarriaga, the company spokesperson who always takes the forefront in explaining concerns that matter most to consumers.

Philippine Airlines lauded the government’s move to open up Balikbayan (returning Filipino resident) visits effective Monday next week (December 7, 2020) and will offer regular direct flights to facilitate travel to the country.