San Miguel Corporation clarified that, while it has held initial discussions, the firm has not formally engaged Palafox Associates and Palafox Architecture Group, Inc. for a consulting agreement for the P95 billion Pasig River Expressway (PAREX) project. “There is no formal engagement with Arch...
The Federation of Free Farmers (FFF) said the money that goes to Philippine Crop Insurance Corporation (PCIC) are government contributions to the premiums for crop insurance policies issued to farmers and not subsidies. 35199 FFF issued this clarification on efforts to to debunk claims that the...
Leisure & Resorts World Corporation is now venturing into sports betting after wholly-owned subsidiary Total Gamezone Xtreme Inc. (TGXI) has been accredited by the Philippine Amusement and Gaming Corporation (PAGCOR) accreditation. In a disclosure to the Philippine Stock Exchange, LRWC said...
The local stock market started the week flat, supported by the gains of the Services sector. The main index inched up by 4.73 points or 0.07 percent to close at 6,956.26 as the Services sector’s advanve offset the retreat staged by the Mining and Oil, Financials, and Property counters. 35046...
Aboitiz Equity Ventures (AEV) is selling a 25.01 percent stake in Aboitiz Power Corporation (AboitizPower) to JERA Co. Inc., Japan’s largest power producer, for $1.146 billion in cash. In a disclosure to the Philippine Stock Exchange, AEV said the Aboitiz family’s privately held parent company...
Megaworld Corporation’s all-in-one, on-demand lifestyle delivery app PICK•A•ROO announced that it has now listed more than 1,000 well-known brands and more than 150,000 products across different categories. “We have been carefully curating and selecting our merchant partners to provide only...
Despite difficulties in raising revenues amid the pandemic, the national government opted to increase the amount of subsidy it extended to state-owned corporations due to mounting health insurance claims. Data from the Bureau of the Treasury revealed that the financial support extended to...
The local stock market is seen to be cautiously optimistic this week although it is still uncertain if it will have enough steam to breach, and stay above, the 7,000 resistance level. “The local market may still take cues from our COVID-19 situation. Last week, our case counts have averaged...
Jollibee Foods Corporation has opened the first Jollibee store in Spain right at the heart of Madrid at Puerta del Sol, Calle Arenal—one of its biggest openings in Europe. In a statement, Jollibee said its debut in Spain comes as the brand continues to expand its current network of more than...
The Securities and Exchange Commission (SEC) has approved the P6 billion market debut of AllDay Marts, Inc. and the P18- billion bond offering of Petron Corporation. 34600 In its meeting last September 23, the Commission En Banc resolved to render effective the registration statements of AllDay...
The Philippine Stock Exchange index ended the week on a positive note as share prices continued to be buoyed by gains in the US. 34595 The main index added 36.25 points or 0.52 percent on Friday, Sept. 24, to close at 6,952.53 with the Property sector leading the charge while the Holding Firms...
SM Retail, a subsidiary of SM Investments Corp., is continuing the expansion of Pet Express on growing demand for pet companionship during this pandemic. In a statement Friday, Sept. 24, SM Retail said it is opening three stores this year. “In the wake of hard lockdowns, the need for pet...
