CEBU CITY — The province of Cebu is poised to cement its status as the richest province in the country. This, after the province hit its revenue target last year. Cebu province collected P5 billion in revenue in 2020 and is likely to remain as the country's richest province.(Photo via Calvin D....
The core net income of power utility giant Manila Electric Company (Meralco) went up by 13 percent to P24.608 billion last year compared to the leaner P21.711 billion in 2020 due to robust energy sales. On the distribution firm’s reported net income, this climbed significantly by 44 percent to...
AirAsia Ancillary Products Earnings from inflight food, baggage allowances and other ancillary products can boost the 2022 revenues of airlines because half of Filipino travelers, five out of ten, purchase them during flight, according to AirAsia Philippines executives. “Even though flight...
PLDT Home is expected to be a major driver for the telco giant’s revenues this year as it launches additional products, according to Chairman Manuel V. Pangilinan. Already, PLDT Home has connected over 800,000 households to date, supporting both work-from-home and online learning in the...
The Duterte administration’s budget deficit registered only a marginal increase last November owing to improved revenue collections, data from the Bureau of the Treasury showed. The national government incurred a P128.7 billion fiscal gap last month, up by only 0.33 percent compared with P128.3...
Muntinlupa emerged as one of the 10 top performing cities in local revenue generation in the country in 2020. The Bureau of Local Government Finance under the Department of Finance issued the list of the national top performing provinces, cities and municipalities in local revenue generation for...
Petron nets P4.99-B in 9 months Myrna M. Velasco Leading oil firm Petron Corporation reported a net income of P4.99 billion in nine months this year, reversing a P12.6 billion in net loss in the same period last year. In a statement, the firm noted it continues “to show recovery amid the pandemic...
Buoyed by gradual rebound in electricity demand in the Luzon grid, the consolidated net income attributable to parent firm of AC Energy Corporation (ACEN) jumped 22 percent to P4.3 billion within nine-month period this year from P3.5 billion in a parallel timeframe last year. On stream of revenues,...
State-run Philippine Amusement and Gaming Corp. (Pagcor) posted a contraction in revenues in the first nine-months of the year, missing its target for the period. Based on the Pagcor’s third-quarter budget performance report, its income from gaming operations declined by 0.21 percent to P22.28...
Editorial It was more than a year ago since the Duterte Administration pronounced for the first time that it wants to gain more out of the mining industry, something that was highly improbable then, until Executive Order (EO) 130 was issued six months ago. It turns out that the government is...
Philippine Airlines (PAL) expects to be out of Chapter 11 before this year ends and remains optimistic it will survive and "fly long into the future", although travel demand won't return to pre-pandemic levels until 2024-2025. pal-aircraft_316x210px The flag carrier, which filed for bankruptcy in...
Higher volumes at Asian Terminals Inc. (ATI)' s international gateway ports in Manila and Batangas boosted the operator's revenues for the first six months of 2021 by 8.2% to P5.47 billion versus the same period last year. ati_headoffice However, ATI's net income dipped 2% to P1.13 billion due to...
