Business NEWS

The Development Bank of the Philippines (DBP) granted P1.286-billion loan to build the first heart and brain center in Region IV-A.

Containerized cargo growth in its Manila and Batangas ports boosted Asian Terminal Inc. (ATI)’s net income by one percent to P1.14 billion on revenues of P6.1 billion, up 11.7 percent, in the first half of 2022 versus the same period last year.

Billionaire Enrique K. Razon Jr. has tapped Sebastian C. Quiniones Jr., former managing director of Shell Philippines Exploration B.V. (SPEX), to become the general manager of his upstream oil and gas business under Prime Exploration Pte. Ltd. effective August 17 this year.

Smart Communications, Inc. is collaborating with US-based Omnispace to explore the capabilities of space-based 5G communications using low earth orbit (LEO) satellites

We all know that it is inevitable that we will all have to leave this world and hopefully this happens many years after we have retired. While retirement will not be the same for everyone, there are certain norms by which one can be classified as a retiree such as leaving your normal job after reaching a certain age or years of service in the organization.  For most people, retirement comes as you turn 60 and you would typically receive some lump sum amount from the company you worked for and a monthly pension from the SSS which is at best a modest amount that would be less than the minimum wage.

The Philippines will be eligible for duty free access for over 99 percent of total exported goods (by value) to the United Kingdom (UK), saving around £21 million of tariffs each year, through the British’s new Developing Countries Trading Scheme (DCTS).

The Philippine International Dive Expo (PHIDEX) 2022, the country’s biggest platform to highlight and promote the dive industry, will be graced by world-class underwater photographers, technical divers, and marine conservationists in a dive conference set on August 19-21, at SMX Convention Center, Pasay City.

Twelve Malaysia firms from food & beverages, healthcare and ICT will explore business opportunities in the Philippines, according to the Malaysia External Trade Development Corporation (MATRADE).

Global science company 3M has appointed 3M Philippines Country Leader Reggie Pulumbarit as new managing director of 3M Southeast Asia region and vice president of 3M Global Service Center Philippines effective July 1, 2022.

The Subdivision and Housing Developers Association (SHDA) has pushed for the strengthening of the incentives and addressing the price ceilings, especially for socialized housing, to encourage more developers in housing activities and achieve the administration’s housing goals over the next six years.

The Southeast Asian Regional Center for Graduate Study & Research in Agriculture (SEARCA) has submitted to the Department of Agriculture a 10-year plan that outlines a P5-trillion strategic intervention aims at transforming the Philippines into a major agricultural producer.

The local stock market finally took a breather as investors pocketed gains from a 7-day rally.

The Department of Budget and Management (DBM) will submit to Congress the Marcos administration’s first full-year 2023 proposed budget next week.

The National Economic and Development Authority (NEDA) said importation should be allowed when local sugar manufacturers are not producing enough to keep up with demand.

Power utility giant Manila Electric Company (Meralco) has formally opened to challengers the competitive 200-megawatt original proposal of the subsidiary-entity of Solar Philippines from its integrated solar farm and battery energy storage installation.

The Independent Electricity Market Operator of the Philippines (IEMOP), the operating entity of the Wholesale Electricity Spot Market (WESM), is planning to stop collecting market fees from trading participants if no coordination could still be established with the board of the Philippine Electricity Market Corporation (PEM Board), the governance body of the spot market.

Lopez Holdings Corporation reported a 135 percent jump in attributable net income to P2.47 billion in net income attributable to equity holders of the first six months of 2022 from the P1.05 billion earned in the same period last year.

Max’s Group, Inc., the largest casual dining restaurant group in the Philippines, reported that its net income of P281.1 million in the first half of 2022 organically grew by 18 times compared to the same period last year.