Citicore Energy REIT Corp. (CREIT), the real estate investment trust (REIT) vehicle of the Citicore group, has posted 454 percent increase in net income to P1.25 billion in 2022 from P226 million in the previous year. According to CREIT President and CEO Oliver Tan, the upturn in profitability of...
Buoyed by pandemic recovery-underpinned energy sales and its Singapore power asset, the consolidated core income of power utility giant Manila Electric Company (Meralco) climbed by 10-percent to P 27.105 billion in 2022 from P24.6 billion in the prior year. For the company’s reported income, this...
Having no salary means having no need to pay income tax. P3PWD Party-list nominee Rowena Guanzon (Facebook) P3PWD Party-list nominee Rowena Guanzon espoused this logic via Twitter on Wednesday, Feb. 8. "Hindi ako magbabayad ng taxes. Hindi naman ako sinweldohan ni Speaker Martin eh. Walang sueldo,...
ILOILO CITY – Boracay earned P32.2 billion from 1.75 million domestic and foreign tourists who visited the world-famous resort-island in Malay, Aklan in 2022. THE Sun sets at world-famous Boracay Island in November 2022. The island-resort earned P32.2 billion from 1.75 million tourists in 2022....
Economist-solon Albay 2nd district Rep. Joey Salceda says he is proud of the part he played in enacting the Tax Reform for Acceleration and Inclusion (TRAIN) Law, which has placed more cash in the pockets of Filipinos who relatively earn less. (Mari Gimenez/ Unsplash) Salceda, chairman of the House...
The National Economic and Development Authority (NEDA) Board chaired by President Ferdinand R. Marcos, Jr., approved last December 16 the Philippine Development Plan for 2023-2028, with the following key macroeconomic targets: gross domestic product (GDP) growth ranging from 6.5 to 8.0 percent;...
Here's some good news to start the year 2023. (MANILA BULLETIN) Albay 2nd district Rep. Joey Salceda reminded Filipinos on Saturday, Dec. 31 that half a month's worth of salary awaits them as part of the windfall from the Tax Reform for Acceleration and Inclusion or TRAIN Law. “A 13.5th month...
Income inequality in the Philippines remained one of the highest rates in East Asia despite important gains in poverty reduction following recent strong economic performance and improving access to employment, the World Bank reported. In a World Bank report titled “Overcoming Poverty and...
Listed firm Synergy Grid and Development Philippines Inc., the holding company of transmission firm National Grid Corporation of the Philippines (NGCP), posted substantial net income climb to P28.679 billion in the first nine months this year from P18.283 billion in the comparative period last...
The net earnings of Alcantara-led Alsons Consolidated Resources Inc. (ACR) grew 18 percent to P1.35 billion in the nine-month period this year from a leaner P1.14 billion in the comparative period in 2021. For third quarter alone, the company reported that its net income soared 140 percent to...
The House Committee on Local Government on Thursday, Nov. 17, approved the measure seeking to institutionalize the automatic income classification of provinces, cities and municipalities to boost the capacities of local government units (LGUs) in providing socio-economic benefits to LGU personnel....
Citicore Energy REIT Corp. (CREIT), the real estate investment trust (REIT) business unit of the Citicore group, reported accelerated growth in income in the past nine months to P906.5 million, more than eight times its last year’s earnings of P118.59 million. In the third quarter alone, the...
