Cosco Capital Inc., the retail holding company controlled by billionaire Lucio Co, reported a 22 percent increase in first-quarter profit as a recovery in consumer spending boosted sales across its grocery and liquor units. The firm said in a disclosure to the Philippine Stock Exchange that net...
Grocery giant Puregold Price Club Inc. posted a 24 percent surge in first-quarter profit as the retailer capitalized on resilient consumer spending and expanding margins across its flagship and membership store formats. The firm disclosed to the Philippine Stock Exchange that consolidated net...
As the national government prepares to stabilize the rice price and supply, the Philippine National Police (PNP) will be there to ensure that everybody will comply. PNP chief Gen. Jose Melencio C. Nartatez, Jr. has expressed full readiness to support the enforcement of the government’s planned...
The Motorcycle Development Program Participants Association Inc. (MDPPA) is optimistic that motorcycle sales will remain on an upward trajectory in the coming months, as higher fuel prices are expected to spur stronger demand for two-wheeled vehicles. As fuel prices remain elevated due to the...
The House of Representatives ' proposed KALINGA Act received a big boost on Tuesday afternoon, May 5 after the country’s economic managers threw their support behind the fuel price crisis response measure. The expressions of support were made during the first hearing of the House Ad Hoc...
A ranking congresswoman wants to impose a civil penalty of up to P10 million against energy-producing companies that implement unreasonable price increases on crude oil and refined petroleum products. Manila Teachers Party-list Rep. Ma. Nina Francesca Lacson filed for this purpose House Bill (HB)...
Ending a brief period of relief for motorists, oil prices resumed their upward trajectory in the first week of May as global supply pressures offset the price rollbacks seen in late April. Department of Energy (DOE) Secretary Sharon Garin told a press conference on Monday, May 4, that diesel prices...
House Majority Leader Ilocos Norte 1st district Rep. Sandro Marcos is rallying his congressman-colleagues to swiftly pass the proposed Kalinga Act, which is seen to provide relief for poor Filipinos, the middle class, and small business owners amid elevated fuel costs. Marcos made the call ahead of...
Quezon City 3rd district Rep. Franz Pumaren is bent on subjecting the delays in the rollout of the national ID system to a full-blown congressional probe, even as he says the problem has turned into a big hindrance in the distribution of fuel aid. “I will file a resolution to investigate ‘yung...
Senators Risa Hontiveros and Bam Aquino are urging the government to do more for the welfare of Filipino workers amid the elevated prices of petroleum. They made this appeal in separate statements issued on Friday, May 1, on the occasion of Labor Day. In a speech before the Philippine...
Motorists face a sharp reversal at the fuel pumps next week as the three-week streak of price cuts comes to a halt amid escalating geopolitical tensions and tightening regional supplies. Based on the four-day trading average of the Mean of Platts Singapore, the industry’s regional benchmark,...
Factory-gate prices rose at their fastest pace in three years in March, as oil-linked industries drove a sharp acceleration in manufacturing costs at the onset of the war in the Middle East. The latest Philippine Statistics Authority (PSA) data on Thursday, April 30, showed that the producer price...
