A whopping scale of capital mobilization that will reach as much as $500 billion (roughly P27.5 trillion) will have to be concretized so the country’s energy systems will be substantially decarbonized, according to the Department of Energy. As cited by the energy department, “the Philippines is...
Financing, mainly borrowings, for Philippine climate change mitigation and adaptation projects hit a record-high $3.131 billion (over P174 billion) in 2023. The 2023 Joint Report on Multilateral Development Banks' (MDBs) Climate Finance published by the European Investment Bank (EIB) this month...
The Securities and Exchange Commission (SEC) is warning the public against dealing with a fake entity posing as the legitimate Philippine Investment Funds Association (PIFA) on Facebook and CT Loan Cash Loan and Credit Company. The SEC said the public should not buy into the investment scheme...
The Bangsamoro Government is poised to take over the Development Bank of the Philippines' (DBP) shares in the Al-Amanah Islamic Investment Bank of the Philippines (AAIIBP), a move that aims to strengthen its economic autonomy and support development initiatives in the region. Finance Secretary...
State-run Maharlika Investment Corp. (MIC) admitted that it is encountering difficulties in complying with the Governance Commission for government-owned and controlled corporations (GCG). Rafael D. Consing Jr., MIC president and chief executive officer, disclosed that the oversight body for...
MGen Renewable Energy Inc. (MGreen), the renewable energy investment platform of Meralco PowerGen of the Manila Electric Company group, has acquired 50% stake in the 450-megawatt (MWac) Bugallon solar farm project in Pangasinan that was under a service contract held by Singaporean firm Vena Energy....
TAIPEI – The Philippines is successfully leveraging on its economic advantage as its export to Taiwan posted substantial growth of 27.38% in this year’s first quarter for an aggregate value of $720.80 million, according to the Philippine Trade & Investment Center (PTIC) here. Conversely,...
First Metro Investment Corporation (First Metro) and First Metro Securities (FirstMetroSec) of the Metrobank group have been recognized by Hong Kong-based financial publication, Finance Asia for their excellence in investment banking and navigating the financial markets. In a statement, First Metro...
Finance Secretary Ralph G. Recto said that the private sector representatives of the Maharlika Investment Corporation (MIC) board have yet to earn “a single centavo” since they were hired last year. During a Senate committee hearing with the country’s economic managers, Recto confirmed that...
The Maharlika Investment Corporation (MIC) is set to delve into investment prospects for the major infrastructure and development projects of Clark International Airport Corp. (CIAC) in Clark. In a statement, Special Assistant to the President (SAP) for Investment and Economic Affairs, Secretary...
A study that would address the problem of the supply of electricity in Palawan is now underway, President Marcos said. President Ferdinand 'Bongbong' Marcos Jr. (Noel Pabalate) In his speech during the distribution of assistance to communities severely affected by El Niño in Puerto Princesa,...
Antonio R. Ocampo, Jr. has been appointed as the new president and director of First Metro Investment Corporation, taking over from Jose Patricio A. Dumlao who retired last June 30 after four years with the company. Ocampo, an executive in the Metrobank Group with over 30 years of experience in...
