Elections and related spending no longer provide the same economic boost as they once did. As a result, an economist at Ateneo de Manila University expects the Philippine economy to grow below goal this year, despite the upcoming midterm elections in May. Luis Dumlao, associate professor and senior...
Aboitiz Power Corp. (AboitizPower) announced that its net income grew marginally in 2024 despite the performance of its unit GNPower Dinginin Ltd. Co. (GNPD). In a disclosure to the Philippine Stock Exchange on Friday, March 7, AboitizPower noted a two percent increase in its net income from...
Ramon Ang-led oil firm Petron Corporation has reported a 16 percent year-on-year drop in its net income to ₱8.47 billion in 2024. In a statement on Tuesday, March 4, Petron noted that its operating income declined to ₱29.2 billion last year from ₱30.7 billion in 2023. Its revenues, on the...
President Marcos’ chief economic manager stated that he expects an additional P300 billion to be injected into the government’s treasury over the next five years following the planned revision of existing passive income tax law. Department of Finance (DOF) Secretary Ralph G. Recto, during...
Japan will help the Philippines achieve its ambition to become an upper middle-income economy through sustained official development assistance (ODA), according to Japan International Cooperation Agency (JICA) president Akihiko Tanaka. At an online press briefing commemorating JICA's 70th...
The World Bank is crafting its lending plan for the Philippines covering the years 2025 to 2028, the period during which the country will likely rise to upper middle-income status and gradually lose access to preferential borrowing rates. The World Bank Group Philippines Country Partnership...
With additional revenues to be drawn from geothermal assets that are coming on commercial stream, Lopez-led First Gen Corporation is expecting overall profit boost this year, according to a top executive of the company. First President and COO Francis Giles B. Puno indicated that at least 83...
With leaner aggregate revenues logged in the six-month stretch, the net income of Alsons Consolidated Resources Inc. (ACR) in the first half had declined by roughly 10% to P1.06 billion from the year-ago level of P1.17 billion. If reckoned solely on second quarter performance, the company’s...
Owing primarily to favorable outcome of its better inventory holdings, major oil firm Shell Pilipinas Corporation posted significant hike of 1,320 percent in its first half net income to P1.7 billion from relatively lean profit of P123 million in the same period last year. The company indicated...
With new solar and wind farm capacities coming on stream, the net income of international project developer ACEN Corporation climbed 49% to P6.3 billion in this year’s first half from the year-ago level of P4.23 billion. The Ayala-led firm indicated that its earnings factored in P1.4 billion...
With its cash stream boosted by the entry of new capacities from its solar plants, the net income of listed firm Citicore Renewable Energy Corp (CREC) climbed 9.0% to P910 million in 2023 versus P834 million in the prior year. The company’s earnings before interest, taxes, depreciation and...
Despite robust outcome at its top line, the consolidated net income of leading oil player Petron Corporation posted a slight downturn in the first half to P6 billion from last year’s P6.14 billion in the same period. On the company’s operating income, this logged more favorable result with 8.0...
