While the Energy Regulatory Commission (ERC) is partly blamed for the power supply mess in the country due to its slow action on issuance of warranted rules and approvals of power supply agreements (PSAs), it has opted to sign a memorandum of agreement (MOA) with the Board of Investments (BOI) for...
The Philippine Stock Exchange (PSE) has imposed an indefinite trading suspension on the shares of House Speaker Martin Romualdez’s Bright Kindle Resources & Investments Inc. (BKR) after it disclosed the planned P5 billion acquisition of a magnetite mining firm. The PSE said Bright Kindle...
SM Markets, the retail grocery arm of the SM Group’s SM Retail, is planning to open 10 to 15 new stores outside Metro Manila this year to provide for the essential needs of Filipino communities in underserved areas in the provinces. “Service is at the heart of everything we do. As we grow, we...
The Philippines is committed to be a leader in sustainable transportation, President Marcos said. President Ferdinand R. Marcos Jr. speaks during the Indo-Pacific Business Forum held at a hotel in Taguig City on May 21, 2024. (Noel B. Pabalate) "There is a long way to go still, but we are committed...
President Marcos touted the Philippines as a strategic location for investment, saying it is now ready to be a regional hub for smart and sustainable manufacturing and services. In his speech during the 6th Indo-Pacific Business Forum (IPBF) on Tuesday, May 21, Marcos said the Philippines can serve...
The Philippine Stock Exchange (PSE) has approved the application of Roxas Holdings Inc. (RHI) for a nine-day voluntary suspension of the trading of its stocks following the planned takeover of young tycoon Leandro Leviste. In its letter to the PSE, RHI said it sought a trading suspension to avoid...
Young billionaire Leandro Leviste’s Countryside Investments Holdings Corporation has signed a term sheet with tycoon Manuel V. Pangilinan to invest P5 billion for an initial 71.6 percent in Roxas Holdings Inc. Countryside’s investment will help Roxas Holdings service debt to avoid bankruptcy,...
The country’s economic environment failed to lure more foreign investments in the first quarter of this year, data from the Philippine Statistics Authority (PSA) showed. The PSA reported Thursday, May 16, that the total approved foreign investments from January to March fell by 63.6 percent to...
Many offshore wind investors may end up abandoning their proposed projects as both government and private sector advocates have been intensifying calls and activities for reinforced protection of the Verde Island Passage (VIP). A highly placed source indicated that a multinational company along...
Goldilocks Bakeshop, Inc., one of the most enduring and beloved Filipino brands in the SM group’s portfolio investments, is boosting its expansion through partnerships as it rolls out an additional 30 franchise-owned stores in 2024. In a statement, SMIC said Goldilocks has 926 stores as of...
The Sy family-controlled SM Investments Corporation (SMIC), one of the country’s top conglomerates, reported a six percent improvement in consolidated net income to P18.4 billion in the first quarter of 2024 from P17.3 billion in the same period last year. SMIC said in a disclosure to the...
SM Investments Corporation (SMIC) and subsidiary SM Prime Holdings Inc. reported that they have jointly established a $3.0 billion Multi-Issuer European Medium Term Note (EMTN) Programme. In a disclosure to the Philippine stock Exchange, SM Prime said the EMTN Programme was established through SMIC...
