The local market is seen to make a healthy correction to digest strong gains made last week on the success of two COVID-19 vaccines and the surprise rate cut by the Bangko Sentral ng Pilipinas. “This week, we may see a pullback as investors book gains out of the market’s 3-week...
Boxing idol Manny Pacquiao is megarich but unlike others he’s big-hearted. The fighting senator from Gen. Santos City once again showed his generosity by donating his talent fee as newest brand ambassador of Globe to the victims of typhoons “Rolly” and “Ulysses” which battered some parts...
Engineering and infrastructure firm Megawide Construction Corporation reported a consolidated net loss of P918 million for the nine months of 2020, a 210 percent fall from the profit of P835.17 billion earned in the same period last year. In a disclosure to the...
Filinvest Development Corporation (FDC), the Gotianun family’s holding firm, reported a three percent improvement in attributable net income to P8.9 billion in the first nine months of 2020 from the P8.6 billion earned in the same period last year. In a disclosure to the Philippine Stock...
The local stock market continued to correct yesterday as investors take profit from the surge in prices last week. The Philippine Stock Exchange index (PSEi) dropped 51.83 points, or 0.74 percent, to close at 6,918.05 with only the Financials and Industrial counters managing to...
Consumers’ pockets will be ripped off this week with the massive increases in pump prices at the scale of P1.50 to P1.55 per liter for diesel products; and P1.05 to P1.10 per liter for gasoline products. The oil companies also enforced P1.30 per liter hike in the price of kerosene products, an...
Energy Secretary Alfonso G. Cusi defended the seemingly ‘negligible’ $50 million capital requirement for foreign firms entering the Philippine geothermal sector saying the figure was the scale determined by the government for prospective investment areas on offer....
Gokongwei-led JG Summit Holdings, Inc. (JGS) reported an improvement in earnings for the third quarter of the year compared to the first half as the Philippine economy progressively opens up despite the COVID-19 pandemic. In a disclosure to the Philippine Stock Exchange, the firm...
The stock market ended lower on the last trading day of the week on concerns over damages wrought by Typhoon Ulysses. The Philippine Stock Exchange index (PSEi) dropped 54.38 points, or 0.77 percent, to close at 6,969.88 with only the Property and Mining & Oil counters in the green....
Alliance Global Group, Inc. (AGI), the holding company of tycoon Andrew Tan, reported a 55 percent drop in attributable net income to P5.8 billion in the first nine months of 2020 from P12.8-billion in the same period last year. In a disclosure to the Philippine Stock Exchange the firm said...
With additional valuation-anchored inventory losses and one-off charges booked, the net loss of listed firm Pilipinas Shell Petroleum Corporation (PSPC) had widened to P13.9 billion in nine months this year. That’s a complete reversal of the P4.4 billion net income it posted last year, when oil...
Taiheiyo Cement Corporation of Japan is investing P15 billion in the Philippines for the construction of new state of the art production line in Cebu that will increase it capacity by 50 percent in the immediate term. Trade and Industry Ramon M. Lopez said the Japanese principal has given...
