The local stock market ended slightly higher despite a weak start as investors wait for results of the Bangko Sentral ng Pilipinas (BSP) policy meeting. The main index added 26.61 points or 0.39 percent to close at 6,854.53 with the Industrial sector posting the highest gain while the...
The Energy Regulatory Commission (ERC) has clearly stipulated that clearance shall be secured first before Manila Electric Company (Meralco) can pass on costs relating to procured supply from plants running on liquefied natural gas (LNG) – and that is primarily applied to its contracted...
The local stock market recovered the previous day’s loss as investor sentiment got a boost from the higher foreign direct investments data for November. The main index added 20.10 points or 0.30 percent to close at 6,872.92 as Industrials led the advance. Volume improved a bit to 557 million...
TOKAI Corporation of Japan is investing an additional P3.43 billion in publicly-listed renewable energy firm Repower Energy Development Corporation, a subsidiary of Pure Energy Holdings Corporation, to double its stake to 20.1 percent. In a statement, REDC said TOKAI Corporation is the consolidated...
Integrated solar developer SP New Energy Corp. (SPNEC), now a member of the Meralco Group, has replaced MREIT Inc. in the exclusive and coveted MSCI Philippines Small Cap Index. Source: MSCI, First Metro Securities The addition of SPNEC and deletion of MREIT are the only changes in the closely...
Investors took profits from the local stock market after last week’s rally while waiting for a fresh batch of Philippine and US economic news. The main index dropped 42.34 points or 0.62 percent to close at 6,807.82 as the Property sector led the decline with only the Services counter...
MGen Renewable Energy Inc. (MGreen), a unit of Manila Electric Company (Meralco), has bought an additional 2.17 billion shares in SP New Energy Corporation (SPNEC) from Solar Philippines Power Project Holdings Inc. for P2.5 billion. In a disclosure to the Philippine Stock Exchange (PSE), SPNEC said...
The local stock market will be looking for cues from fresh corporate earnings reports and the US inflation data this week, even as some profit-taking is expected after the recent rally fueled by the low inflation rate and expectations of rate cuts later this year. “The local market continues to...
SM Investments Corporation’s (SMIC) transportation and logistics unit 2GO Group Inc. has signed an agreement with National University (NU) to provide maritime experiential on-the-job training for its tourism and hospitality students. In a statement, 2Go said this strategic alliance aims to...
The local stock market dropped from the day’s peak above the 6,900 level but still managed to end higher for the day. The main index added 20.12 points or 0.29 percent to close at 6,850.16 as Banks led the advance while the Mining counter led 3 sub-indices down. Volume was firm at 535 million...
Sen. Grace Poe reiterated the Senate's call for the National Grid Corporation of the Philippines to expedite the completion of the Cebu-Panay-Negros project and all other power transmission projects. "Delay is a denial of public service," she said in a statement on Thursday, Feb. 8. This was...
DoubleDragon's Hotel101 a step closer to Nasdaq listing By James A. Loyola DoubleDragon Corporation, the real estate venture of billionaires Ernesto Tancaktiong and Edgar Injap Sia II, reported that its subsidiary Hotel101 Global Pte Ltd has officially reserved the Nasdaq stock exchange ticker...
