Meralco PowerGen Corporation, the power investment arm of Manila Electric Company (Meralco), is seriously weighing options to shift investment plans into setting up liquefied natural gas (LNG) facilities instead of the previously blueprinted coal-fired power investments. “We should get into the...
Universal Robina Corporation (URC) reported a 15 percent improvement in net income to P11.6 billion last year, driven by growth in operating income, lower debt and interest expenses, and lower foreign exchange losses. In a disclosure to the Philippine Stock Exchange, the firm said its net sales for...
The local stock market advanced for the third straight session Tuesday, (March 2), on optimism over the arrival of vaccines. The Philippine Stock Exchange index (PSEi) gained 46.57 points, or 0.68 percent, to close at 6,919.54 although sectoral indices were evenly mixed. Volume improved to 126.72...
Security Bank Corporation posted a 26 percent drop in net income to P7.4 billion last year from the P10.1 billion earned in 2019 due to higher provisions. In a disclosure to the Philippine Stock Exchange, the firm said total revenues jumped 48 percent to P50.4 billion from the previous year, driven...
Robinsons Land Corporation (RLC), one of the leading diversified real estate companies in the Philippines, reported a decline in net income to P5.26 billion last year, from the P8.7 billion earned in 2019, due to the impact of the pandemic. However, in a disclosure to the Philippine...
The National Home Mortgage Finance Corporation (NHMFC) has raised a total of P319.32 million with the closing of its fourth securitization transaction called ‘BALAI Bonds 2’, for a portion of its Residential Loan portfolio. The transaction consists of one tranche of Senior Notes and one tranche...
Third player DITO Telecommunity Corporation today (March 2) announced it will be commercially operational in 15 areas in Metro Cebu and Davao on Monday, March 8. The telco's service will launch its service in ten Metro Cebu areas: 1. Carcar, 2. Cebu City,3. Consolacion, 4. Danao, 5. Liloan, 6....
Greenergy Holdings Inc., the listed firm of businessman Antonio Tiu, continues to beef up its fintech portfolio with the acquisition of 51 percent of ABS-CBN Corporation’s U-Pay Digital Technologies Inc. for P54 million. The move is part of Greenergy's bold ambition and pivot towards digital...
San Miguel Corporation (SMC) continues to help fisherfolk relocatees at its new sustainable, disaster-resilient community in Sariaya, Quezon sustain their livelihood, by turning over to them 36 fishing boats. The firm said the donation will benefit some 69 fishermen, who used to live in at-risk...
The relentless rise in fuel prices will continue this week for all fuel products, including that of liquefied petroleum gas (LPG), which is the preferred commodity by most Filipino households for cooking. As advised by the oil companies, gasoline prices will increase by P1.00 per liter in this...
The local stock market is seen to remain volatile this week due to the upcoming release of earnings results of some index heavyweights as well as the inflation figure for February. “Inflation expectations are expected to be one of the main drivers of the market ahead of the release of the...
German firm Siemens Energy is projecting that economies in the Asia Pacific region will immensely propel energy demand growth within the stretch of two decades or until year 2040. Brian Byrne, senior vice president of Siemens Energy Asia Pacific Hub, said “Asia Pacific’s growth aspirations will...
