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WB ‘eager’ to support PH digitalization push
The World Bank is eager on supporting the government’s bid to digitalize services and modernize the bureaucracy, the Department of Finance (DOF) said.
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ABS-CBN acquires 35% of TV5 in a landmark deal
ABS-CBN Corporation (ABS-CBN) and TV5 Network, Inc. (TV5), Thursday (August 11) executed an Investment Agreement allowing ABS CBN to acquire 6,459,393 primary (new) common shares in TV5, representing 34.99 percent of its total voting and outstanding capital stock, for P2.16 billion.
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PNOC re-entry into oil marketing proposed
A re-entry of state-run Philippine National Oil Company (PNOC) into oil marketing and trading has been proposed, so that government can position itself as the “price leader” that can offer cheaper petroleum products not just to public utility vehicle (PUV) drivers but even to the wider constituency of commercial and industrial end-users.
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Converge nets P3.9 B in first sem 2022
Despite the challenging economic environment, fiber broadband provider Converge ICT Solutions Inc. booked a net income of P3.95 billion in the first half of 2022, 21.5 percent more versus the same period last year as it rolled out its high-speed broadband service to more areas nationwide and demand from businesses, particularly small and medium enterprises (SMEs), continued to grow.
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NEDA: PPP helps achieve inclusive, sustained growth
The National Economic and Development Authority (NEDA) said Public-Private Partnerships (PPPs) play a critical role in helping the government achieve inclusive and sustained economic growth.
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AGI posts P12 B first half profit
Alliance Global Group, Inc. (AGI), the holding company of tycoon Dr. Andrew L. Tan, posted a 3 percent decline in attributable profit to P8.2 billion while reported net income dipped 6 percent to P12 billion.
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Landbank agri-loans hit P258 B in June
State-owned Land Bank of the Philippines remained the largest lender to the agriculture sector, the Department of Finance (DOF) announced.
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Ayala profit surges 56%, hikes stake in ALI
Ayala Corporation reported a 56 percent hike in net income to P16.3 billion in the first semester of 2022 due to the strong performance of Bank of the Philippine Islands, Ayala Land Inc., and Globe Telecom.
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Globe selling over 7,000 towers
Globe Telecom Inc. today (Friday, August 12) diclosed it has obtained Board approval to sell over 7,000 towers, of which 66 percent are located in Luzon, 19 percent in Mindanao and 15 percent in Visayas.
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Globe revenues up 4% to P79B; income up 51% to P20B in H1 2022
With mobile and corporate data products and services powering growth, Globe Telecom Inc. hauled in ₱78.9 billion revenues in the first half of 2022, up 4 percent year-on-year, above the growth rates before the pandemic.
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Monde Nissin secures RE-generated electricity supply from EDC
Food manufacturer Monde Nissin Corporation (MNC) has inked a power supply agreement (PSA) with Energy Development Corporation (EDC), for it to source electricity supply from a renewable energy-generated resource.
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DOE sets ‘corrective policies’ to lure fresh oil exploration investments
The Department of Energy (DOE) will re-take “baby steps” and will push for “corrective policies” to entice fresh capital flow in the country’s upstream oil and gas sector, especially in areas not encumbered by territorial disputes.
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DOE seeks Congress imprimatur on scrapping of power taxes
The legislative lever of Congress is sought on the proposed revamping of the multi-tiered taxes in the power sector to reduce the pass-on tariff in the electric bills of consumers by as much as P1 per kilowatt hour.