State-run Maharlika Investment Corp. (MIC) has extended up to ₱15 billion in short-term financing to Ramon S. Ang-led Petron Corp., the country’s lone remaining oil refinery, to boost the firm’s working capital for fuel purchases. In a statement on Thursday, May 14, the country’s sovereign...
At the Aboitiz Equity Ventures (AEV) annual stockholders’ meeting on April 27, the Aboitiz Group stated that the conglomerate will continue to strengthen the operations of its core businesses while advancing strategic growth initiatives. AEV is the active portfolio manager of the Aboitiz Group....
The Maharlika Investment Corp. (MIC) is shifting its strategy for the Philippines’ planned strategic petroleum reserve, opting to finance storage infrastructure rather than purchasing fuel to avoid exposure to volatile global commodity prices. Rafael D. Consing Jr., MIC president and chief...
Petron Corp., the only remaining oil refinery in the country, is once again open to a government takeover, potentially through a partnership with the state-run Maharlika Investment Corp. (MIC). The move comes as the Ramon Ang-led company seeks to address volatile fuel costs, though economists...
The antitrust watchdog Philippine Competition Commission (PCC) has greenlighted the joint venture (JV) between the Yuchengco and Aboitiz families to develop a 184-hectare (ha) industrial park in Tarlac province as an expansion of Lima Land Inc.’s TARI Estate. With PCC clearance, Yuchengco...
Aboitiz Economic Estates continues to set the benchmark for industrial development in Southeast Asia, earning the title of Best Industrial Developer at the 2025 Dot Property Southeast Asia Awards. This distinction is further reinforced by TARI Estate’s recognition as Southeast Asia’s Best...
ILOILO CITY – The Philippine Statistics Authority has issued a national ID to a 110-year-old woman from Iloilo province and she may be the oldest in the country to have received the card. Jovita Aranga from San Rafael town in northern Iloilo successfully registered for a national ID during the...
The Philippines is at the “right moment” to begin pushing for nuclear energy use amid its aim to achieve energy security and reduce its reliance on fossil fuels like coal, the International Atomic Energy Agency (IAEA) said. IAEA Director General Rafael Mariano Grossi made this remark during the...
Alex Eala received one of the biggest cheers from none other than tennis legend Rafa Nadal following her historic Women’s Tennis Association (WTA) victory at the Guadalajara 125 Open in Mexico over the weekend. In a social media post on Sunday, Sept. 7, the retired former No. 1 Spanish player...
Around ₱5 billion worth of investments is the figure Maharlika Investment Corp. (MIC) has set upon entering a partnership with Saudi Arabia-backed ACWA Power to develop renewable energy (RE) projects that will supply electricity to nearly 500,000 off-grid households in the Philippines. Winchell...
Maharlika Investment Corp. (MIC) has entered into a partnership with Saudi Arabia-backed ACWA Power to develop renewable energy (RE) projects that will bring electricity to off-grid islands in the Philippines. In a LinkedIn post on Sunday, Aug. 24, MIC President and Chief Executive Officer (PCEO)...
The Aboitiz and Yuchengco groups have secured their respective boards’ approval for a planned joint venture to significantly expand the TARI Estate in Tarlac by 184 hectares to 384 hectares. The joint venture agreement is between LIMA Land, Inc., a wholly owned subsidiary of Aboitiz InfraCapital...
