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DOE eyes 100% foreign RE ownership to spur manufacturing investments
The Department of Energy (DOE) is studying prospects of opening up the renewable energy (RE) sector to 100 percent foreign ownership, primarily in the domain of solar and wind farm installations, for the manufacturing sector.
Energy Secretary Raphael P.M. Lotilla raised this possibility as he acknowledged the need to address the high cost of electricity for the manufacturing sector, which investment potential has been hampered by the country’s high cost of electricity. -
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PSE hopes to raise P200 B from record number of IPOs in 2022
The Philippine Stock Exchange is hoping to help companies raise up to P200 billion in fresh capital this year as it expects a record number of initial public offerings this year.
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Japan offers satellite services for PH mobility industry
The Japanese government has offered to the Philippines its satellite services “Himawari” for digital infrastructure needs in the development of the mobility industry, such as the promotion of electric vehicles and self-driving cars in the country
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BSP may issue P500 polymer banknotes in 2023
The Bangko Sentral ng Pilipinas (BSP) will circulate a second polymer banknote – P500 bills – next year after assessing the public’s acceptance of the first P1,000 polymer money.
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Jollibee to open branch in iconic Times Square
Jollibee Foods Corporation will open a Jollibee restaurant in the heart of the iconic Times Square, New York on August 18, 2022.
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Stocks to test ability to reach 7,000 level
This week, investors will see if the local stock market is strong enough to reach for the 7,000 or succumb to profit-taking pressures as the earnings season winds to a close.
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CPG boosts profits by 20% in 1st semester
Century Properties Group, Inc. posted a 20 percent growth in net income for the first six months of the year to P549 million from the P457 million in the same period last year.
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LTG profits quadrupled to P15.4 B
LT Group, Inc. (LTG), the flagship of taipan Lucio Tan, reported a 313 percent surge in consolidated attributable net income to P15.40 billion for the first half of 2022 from the P3.73 billion earned in the same period last year.
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Cosco earnings improve despite challenges
Cosco Capital, Inc. and subsidiaries reported a 12 percent growth in consolidated net income to P5.59 billion in the first half of 2022 from P4.99 billion in the same period last year despite challenges from the lingering macro-economic impacts on business.
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Aileen Zosa is 1st woman BCDA chief
Career executive Aileen Anunciacion R. Zosa has been appointed as President and Chief Executive Officer (PCEO) of the Bases Conversion and Development Authority (BCDA), which in charge in the conversion and development of former military bases in the country in partnership with the private sector.
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Holcim launches environment-friendly cement in Davao
Holcim Philippines, Inc., one of the country’s major building solutions provider, has launched its environment-friendly blended cement product Holcim ECOPlanet – in Davao to provide partners a sustainable and high-performance building material as they continue advancing development in Mindanao.
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Committed PEZA investments plunge 30% in H1
Committed investments registered with the Philippine Economic Zone Authority (PEZA) soared 114.93 percent in the second quarter this year, but failed to lift the overall first semester investments from plunging by 29.849 percent.