The Ayala group of companies bagged top accolades at the 2019 ASEAN Corporate Governance Scorecard Awards held by the Securities and Exchange Commission and the Institute of Corporate Directors. Ayala Corporation, Bank of the Philippine Islands, Ayala Land, Inc., and Globe Telecom were hailed ASEAN...
The Malampaya deep water gas-to-power project had already turned in P311 billion worth of revenues to the Philippine government since the start of its commercial operations, according to Senate Committee on Energy Chairman Sherwin T. Gatchalian. Senator Sherwin Gatchalian (MANILA BULLETIN FILE...
Metro Pacific Investments Corporation (MPIC) reported a 38 percent drop in consolidated core net income to P7.7 billion in the first nine months of 2020 from P12.5 billion in the same period last year. In a press briefing, MPIC President Jose Ma. K. Lim said the lower profit is largely...
The electricity rates to be passed on by Manila Electric Company (Meralco) in its billing this November will either be flattish or will have marginal reduction, which is a much needed relief for consumers still struggling from the pandemic woes and the damaging effects of the recent super typhoon....
As an aftermath of severe storm Quinta’s devastation, massive swath in 15 provinces groped in the dark due to power outages caused by damages in various power facilities. According to the Department of Energy, the estimated cost of damage to the power facilities of the electric cooperatives (ECs)...
Anchoring it mainly on the electricity demand slump this year because of the pandemic, power utility giant Manila Electric Company (Meralco) is targeting a leaner core net income of P21 billion this year, which is roughly 10 to 11-percent lower versus last year’s P24 billion scale of...
State-run Philippine National Oil Company (PNOC) has inked a deal with American firm New Fortress Energy LLC (NFE) for the setting up of liquefied natural gas (LNG) installation in the country. In a statement to the media, the Department of Energy (DOE) qualified that the memorandum of...
Pag-IBIG Fund assured the leaders of the country’s largest business organizations to work for the Board approval of its requires to postpone the agency’s January 2021 implementation of the increase of its mandatory monthly contributions. In a statement, business groups said Pag-IBIG Fund Chief...
With forecasts of hiked budget deficits until next year, Senate Committee on Energy Chairman Sherwin T. Gatchalian forthrightly stated that the Philippine government has no money to buy the 45-percent stake being unloaded by Shell Philippines Exploration B.V. (SPEX) in the multi-billion Malampaya...
Due to pandemic lockdown PFA Chairman Emeritus Samie Lim An estimated 70,000 franchise outlets or 35 percent out of the 200,000 franchised firms at the start of 2020 have already shut down or closing shops by the end of the year due to the pandemic, but this sector is expected to recover as early...
Crippling brownouts will dampen the country’s bid for economic recovery in the near term if the Department of Energy (DOE) will not act early enough to concretize a viable replacement for the gas output from the Malampaya field. Senator...
