Business NEWS

The Philippines is planning to invest P502 billion in the next two decades for its targeted gas reserves extraction of up to 4.0 trillion cubic feet (TCF) as a replacement to the depleting Malampaya field, according to the Department of Energy (DOE).

The Bangko Sentral ng Pilipinas’ (BSP) securities auction last Friday, Dec. 4, fetched a higher yield while bids were slightly oversubscribed.

Billionaire Mannuel B. Villar is optimistic about the prospects of his growing retail empire and plans to aggressively open more branches next year while preparing the initial public offering (IPO) of the popular Coffee Project.

The Duterte administration has lowered the amount of subsidy extended to government owned and controlled corporations (GOCCs) for October, data from the Bureau of the Treasury showed.

Government economic managers are on higher alert with the COVID-19 Omicron scare to curtail its possible impact on growth, lockdowns to contain transmission, and other collateral damage to the economy.

Billionaire Manuel B. Villar Jr. is planning to develop soon as his legacy project a sprawling 2,500 hectare property at the border of Metro Manila into an upscale central business district.

Stock investors are seen to remain cautious amid uncertainty over the impact of the Omicron variant while watching out for the release of Philippine inflation and employment data.

Multinational food and agriculture firm Cargill has started commercial operation of its first basemix plant in Mindanao in a bid to take advantage of the demand for high-quality and safe animal nutrition solutions for hogs and chicken.

The Department of Agriculture’s (DA) Philippine Rural Development Project (PRDP), the largest World Bank-funded project in the country, has been extended up to July 2025 and has received additional foreign funds of about P16 billion.

Basic Renewables Inc. (BRI), a subsidiary of publicly listed Basic Energy Corp. (BEC), will invest more in the renewable energy (RE) sector to increase the generated capacity of RE facilities to support the growth and deployment of electric vehicles (EVs) in the country.

The Cybercrime Investigation and Coordinating Center (CICC), the inter-agency group created to fight the recent proliferation of smishing and text spams in the country, has pushed for the setting up of a hub that will centralize complaints, including those filed with other agencies. The CICC is now developing an app and a web portal where victims could report a scam through a hotline and dedicated website.

Banks have allocated P239.4 billion worth of loans as alternative compliance to the reserve requirement (RR) rule to ensure continued support to the country’s key economic sectors.

State-owned Landbank of the Philippines said that financing support to improve and construct farm infrastructure and post harvest facilities accounted for the bulk of its loans to the agriculture sector.

Filipino motorists will experience huge relief next week with petroleum products at the pumps being anticipated to be on substantial rollbacks again based on calculations by oil companies.

This is the story of how low priced Pinoy Tasty and PinoyPandesal became a part of Filipinos’dinner table.

The local medical device industry is projected to grow 8.8 percent annually to reach $884.3 million in two years, according to Trade and Industry Secretary Ramon M. Lopez.

Fraudsters now use group chats to fleece money from victims, according to PLDT Inc. and Smart Communications, Inc. (Smart) cybersecurity teams.

State-run Power Sector Assets and Liabilities Management Corporation (PSALM) will re-bid its prime property in Mexico, Pampanga by early next year.