The National Grid Corporation of the Philippines (NGCP) committed to complete the critical transmission line in Luzon now that the Supreme Court has lifted the temporary restraining order (TRO) on the project. In a statement on Tuesday, May 28, NGCP announced that work on the Hermosa-San Jose...
The local stock market fell as investors believe the Bangko Sentral ng Pilipinas will still not slash interest rates in the third quarter. The main index dropped 70.26 points or 1.07 percent to close at 6,591.34 as the interest rate sensitive Property sector led the retreat while Banks and Miners...
Construction firm EEI Corporation reported a consolidated net income of P28.5 million in the first quarter of 2024, a sharp turnaround from the net loss of P444.29 million in the same period last year. In a disclosure to the Philippine Stock Exchange, the firm said it capitalized on the...
Renewable power pioneer Alternergy Holdings Corp. announced that the Tanay wind power project has received P8 billion in financing. Alternergy’s wholly-owned subsidiary, Altenergy Tanay Wind Corp. (ATWC) said it secured a loan to construct the 112-megawatt (MW) power project in Rizal province....
The local stock market continued to decline as foreign investors sell out amid on belief that US rate cuts will be delayed. The main index dropped 48.29 points or 0.73 percent to close at 6,571.60 as the Mining and Oil sector led the retreat while the Industrial counter bucked the trend. A...
The Sy family’s flagship SM Investments Corporation has been recognized by Hong Kong-based magazine Alpha Southeast Asia as the best company in the Philippines with the Strongest Adherence to Corporate Governance. Given during the magazine’s 14th Institutional Investor Corporate Awards, this...
Global-Estate Resorts, Inc. (GERI), the leisure property development arm of Megaworld Corporation, is investing P5 billion for the 10-year mixed-use development of a 150-hectare beachside property in Lian, Batangas. In a disclosure to the Philippine Stock Exchange, GERI said the project called...
The Luzon Grid will be under red alert for a six-hour period on Monday afternoon, followed by a yellow alert for another four hours during the day. According to the National Grid Corporation of the Philippines (NGCP), the red alert status will be in effect from 1 p.m. to 5 p.m. and 6 p.m. to...
The local stock market is seen to remain volatile as sentiment continues to be weighed down by the weak peso, delayed interest rate cuts, and persistently-high inflation. “Broader market movements last week reflected a more hawkish US Fed, as officials indicated their lack of confidence to...
It will be a new round of financial agony for consumers at the pumps this week, as the price of gasoline and products will rise by P0.40 per liter, based on the pricing advisories of oil companies. Kerosene, which is the base for aviation fuel and also an essential commodity for...
The local stock market ended the week lower as sentiment was dragged down by the steep drop in US bourses. The main index lost 40.1 points or 0.60 percent to close at 6,619.89 led by the drop of the Property sector while Services managed to advance. Volume shrank to 557 million shares worth P4.47...
The renewable energy arm of Meralco PowerGen Corp. (MGen) secured the necessary budget for its solar projects in Isabela and Nueva Ecija. The subsidiary units of MGen Renewable Energy, Inc (MGreen), such as Greenergy for Global Inc. (GGI) obtained a P2.034 billion loan with a 15-year term facility...
