The Procurement Service of the Department of Budget and Management (PS-DBM) denied the government lost P1 billion from the purchase of personal protective equipment (PPEs) from a number of foreign suppliers. In a statement, PS-DBM said yesterday that the government did not lose a single centavo...
By half P2.188 billion State-run Power Sector Assets and Liabilities Management Corporation (PSALM) has trimmed by half the reserve price of the 650-megawatt Malaya thermal power facility to P2.188 billion, which will be applied in its scheduled privatization next week. In a bidding last...
New wave of power plant outages and the recent gas output restriction at the Malampaya field triggered new round of spikes in prices at the Wholesale Electricity Spot Market (WESM), which will be subsequently passed on as rate hike in the consumers’ electric bills for October. In a virtual...
Aboitiz Power Corporation is now ahead of the race, having cemented itself as the top power generator in the country with total national installed capacity of 4,973.435 megawatts, according to a report by the Department of Energy. The Aboitiz firm eclipsed SMC Global Power Corporation of the San...
Power utility giant Manila Electric Company (Meralco) has widened the options for its stockholders on how they would want their cash dividend payments settled. That as the company has announced that it will implement “enhanced dividend payments process” by having a paying agent so its...
The Department of Energy (DOE) is amplifying its bet on the market introduction of Nissan LEAF as a step that can help build up electric mobility (e-mobility) in the Philippines. Nissan LEAF’s market debut in the Philippines- Nissan Philippines Inc. President Atsushi Najima has presented to...
The Duterte administration may borrow less than programmed for the rest of the year should the government’s two main tax agencies continue to exceed their downscaled collection targets, the Department of Finance (DOF) said. Finance Secretary Carlos G. Dominguez III ( MB FILE, Albert Garcia) While...
Alsons Consolidated Resources Inc. (ACR) of the Alcantara group has listed its P1.0 billion commercial papers issuance with the Philippine Dealing and Exchange Corporation (PDEx), according to the company’s disclosure with the Philippine Stock Exchange. The P1.0 billion issue forms the second...
Davao businessman Dennis Uy is setting his sights next on oil and gas exploration ventures at the West Philippine Sea, primarily at the Recto Bank area, which is currently under exploration moratorium because of the country’s diplomatic tussle with China. Dennis Uy During DOE’s opening of bids...
The domestic automotive industry has urged the Department of Trade and Industry to reconsider its safeguard investigation on imported cars as sales took a dive in August. A joint report by the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association...
To sort out pricing The Department of Energy (DOE) is pushing for new amendments to Republic Act 8479 or the Downstream Oil Industry Deregulation Act – and the specific agenda this time is to define “fair pricing adjustment” at the retail pumps. In a budget hearing in Congress, DOE Assistant...
Major player Pilipinas Shell Petroleum Corporation has upped the ante in this week’s pricing competition at domestic oil pumps as it implemented a heftier rollback of P1.55 per liter on diesel products, beating the P1.50 per liter price cut first enforced by competitor-players Unioil and...
