Filinvest Development Corp., the holding company of the Gotianun family, reported an eight percent increase in attributable net income to ₱3.9 billion for the first quarter, as robust performances in its banking and real estate divisions mitigated the sharp downturn in its power business. The...
The Philippine Stock Exchange index (PSEi) dropped further on Wednesday, May 13, due to mixed corporate earnings results as well as uncertainty in the Middle East and in local politics. The main index lost 25.2 points, or 0.42 percent, to end at 5,946.78. The industrial sector led the decline,...
President Marcos has directed the Technical Cooperation Council of the Philippines (TCCP) to implement a national technical program for providing technical assistance to developing countries. Marcos issued Executive Order No. 115 to strengthen the institutional capacity and responsiveness of the...
Local equities retreated as the breakdown in diplomatic efforts between Washington and Tehran sent oil prices higher and weighed on the local currency. The benchmark Philippine Stock Exchange index (PSEi) fell 14.87 points, or 0.25 percent, to close at 5,971.98 on Tuesday, May 12, snapping a brief...
The United States (US) is taking the lead in the development of the long-delayed Sangley Point International Airport (SPIA) through the funding of a new feasibility study, as part of its commitment to boost economic activity within the Luzon Economic Corridor (LEC). The US Trade and Development...
The Asian Development Bank (ADB) has entered into a new partnership with Security Bank Corp. aimed at expanding access to supply-chain financing for small and medium enterprises (SMEs) in the Philippines. In a statement on Tuesday, May 12, the ADB said it signed a risk participation agreement (RPA)...
The Philippine Stock Exchange index (PSEi) rose on Monday, May 11, on bargain hunting—particularly in stocks that posted encouraging first-quarter performances. The main index added 25.88 points, or 0.43 percent, to close at 5,986.85. The property sector led the advance, while conglomerates and...
Cebu-based listed fuel trader and retailer Top Line Business Development Corp. is set to accelerate its infrastructure expansion, earmarking proceeds from its fundraising activity for depot renovations and efforts to increase storage capacity. In a media briefing on Monday, May 11, Constance Marie...
The United Nations Conference on Trade and Development (UNCTAD) is sounding the alarm over the growing use of non-tariff measures (NTMs) in global trade policies, warning that smaller developing economies face higher export costs that could hinder economic growth. In its monthly report on global...
The World Bank has canceled part of the loans for the Cebu Bus Rapid Transit (BRT) while as project scope was pared down with only five months left before its financing closes. A May 8 restructuring paper seen by Manila Bulletin showed that the Washington-based multilateral lender, effective Jan....
The Asian Development Bank (ADB) will mobilize $30 billion by 2030 to help the Association of Southeast Asian Nations (ASEAN) strengthen long-term development priorities and withstand external economic shocks. ADB president Masato Kanda announced the commitment during the 48th ASEAN Summit in Cebu...
Local equities retreated as weaker-than-expected economic growth print and escalating tensions in the Middle East prompted investors to pocket gains before the weekend. The Philippine Stock Exchange index fell 73.3 points, or 1.2 percent, to close at 5,960.97 on Friday, May 9. The Services sector...
