Jaime Augusto Zobel de Ayala, the long-standing architect of the Philippines’ telecommunications sector, is stepping down as chairman of Globe Telecom Inc., marking the end of a nearly three-decade tenure that saw the company evolve from a niche cable provider into a digital services...
CEBU CITY: AppleOne Group, one of the Philippines’ leading property developers, has launched Mahi Center, its first integrated business and lifestyle destination. “For Mactan residents, professionals, and travelers passing through one of the Philippines’ busiest airports, today’s launch...
A fire broke out along C.P. Garcia Avenue in Barangay U.P. Campus in Quezon City on Monday night, April 13, prompting a response from firefighters shortly before midnight. According to the Bureau of Fire Protection (BFP), the blaze reached second alarm before it was brought under control. It was...
Philippine manufacturing growth slowed in March as input prices spiked amid rising energy costs tied to the war in the Middle East. In a report on Wednesday, April 1, S&P Global said the Philippines ’ purchasing managers’ index (PMI) eased to 51.3 last month from 54.6 in February, signaling a...
RL Commercial REIT Inc. (RCR), the real estate investment trust (REIT) backed by Gokongwei-led Robinsons Land Corp. (RLC), is targeting a doubling of its property portfolio to more than two million square meters (sqm), though management indicates the next phase of asset injections will be paused...
Ayala Corp., the Philippines’ oldest conglomerate, posted record core earnings for a third consecutive year as gains in its real estate and banking units shielded the group from the slump in its energy and telecommunications businesses. In a disclosure to the Philippine Stock Exchange, the firm...
Concepcion Industrial Corp. (CIC), a consumer appliances and enterprise solutions firm, recorded an 8.33-percent decline in consolidated net income to ₱1.1 billion last year from ₱1.2 billion in 2024 amid industry-wide challenges. In a disclosure to the Philippine Stock Exchange (PSE) on...
Zobel-led conglomerate Ayala Corp. is raising up to ₱30 billion through issuances of Philippine peso-denominated bonds to be sold via general public offerings. In a disclosure to the Philippine Stock Exchange (PSE) on Thursday, Jan. 22, the firm said its board of directors approved the finance...
The Philippine Stock Exchange index (PSEi) is poised to reclaim the 7,000 level this year as the central bank’s pivot toward monetary easing and sweeping expansion of real estate investment trust rules draw investors back to local equities. Investment & Capital Corporation of the Philippines...
MRC Allied Inc. has agreed to sell a 21 percent stake to two private investors for ₱315 million to help pay down debt and fund corporate obligations. In a disclosure to the Philippine Stock Exchange on Monday, Jan. 19, MRC said the company’s board of directors approved the issuance of 315...
The anti-trust watchdog Philippine Competition Commission (PCC) has approved the acquisition by Danish infrastructure fund A.P. Møller Capital of a 40-percent stake in Ayala Corp.’s subsidiary, AC Logistics Holdings Corp. The acquisition paves the way for the proposed logistics joint venture...
Investment & Capital Corporation of the Philippines (ICCP) expects a new wave of real estate investment trust listings to reach the local market, driven by proposed regulatory changes and the shifting interest-rate environment. The Securities and Exchange Commission (SEC) is moving to amend rules...
