Metropolitan Bank & Trust Co. (Metrobank) of the Ty family booked a 5.1-percent improvement in net income to ₱24.8 billion in the first half of the year, from ₱23.6 billion in the same period of 2024, fueled by a surge in non-interest earnings from fees and trading and foreign exchange (forex)...
Italian confectioner Ferrero, known for brands like Nutella and Kinder, is buying the century-old U.S. cereal company WK Kellogg in an effort to expand its North American sales. The Ferrero Group said Thursday it will pay $23 for each Kellogg share, or approximately $3.1 billion. The transaction...
The Philippines’ average power costs in June declined by 16 centavos, or 3.9 percent, to ₱3.86 per kilowatt-hour (kWh) from ₱4.02 per kWh in the previous month, as demand dropped faster than the decrease in supply. According to the Independent Electricity Market Operator of the Philippines,...
Manila Electric Company (Meralco) is hopeful that the fresh revenues from the energization of data centers will boost sales in the second semester and compensate for slower growth in the first half. In a media chat, Meralco Chief Revenue Officer Ferdinand O. Geluz said some of the data centers that...
Young tycoon Leandro Legarda Leviste is raising a total of ₱34 billion from the divestment of his shares in solar producer SP New Energy Corporation (SPNEC) before assuming his new role as Congressman for the first district of Batangas in the House of Representatives on June 30, 2025. In a...
Yap-led Lepanto Consolidated Mining Co. reported that its net income surged 40 times to ₱659 million in the first five months of 2025 from the ₱16 million earned in the same period last year, as it ramped up production amid rising gold prices. In a disclosure to the Philippine Stock Exchange...
Po-led Century Pacific Food, Inc. (CNPF), one of the leading food companies in the Philippines, has renewed its five-year coconut water supply agreement with The Vita Coco Company, Inc., valued at approximately ₱14 billion. In a disclosure to the Philippine Stock Exchange, CNPF stated that the...
The Sy family’s flagship SM Investments Corporation and its banking arm, BDO Unibank, led the seven Philippine companies that made it to Forbes Magazine’s 23rd Global 2000, which ranks the largest public companies in the world. SMIC was ranked at No. 811 among the world’s top public...
Vietnam-based Green and Smart Mobility Joint Stock Company (Green GSM) has launched the first all-electric taxi service in the Philippines, aligning with the company’s strategy to advance sustainable mobility globally. The Philippines is marked as the fourth international market of Green GSM,...
Metropolitan Bank & Trust Company continues to strategically expand its reach with the opening of four new branches in key locations across the country in the first quarter of the year. The bank said it opened new branches within key business districts of Metro Manila, Power Plant Mall in Makati...
Oasis Management Company Ltd, a Hong Kong-based “activist” investment fund, reported that it has so far acquired a 5.76 percent stake in Lucio Tan-led and Philippine Airlines owner PAL Holdings Inc. In a disclosure to the Philippine Stock Exchange, Oasis Management said it bought the shares...
Japanese cement company Taiheyo Cement Corp. expressed its gratitude to the Department of Trade and Industry (DTI) over its decision to impose provisional safeguard duties on cement imports that were found to be harming the local industry. In February, the DTI imposed duties of ₱400 per metric...
