The Maharlika Investment Corp. (MIC) is planning to acquire up to 11.2 percent of Asian Terminals Inc. (ATI), the port operator controlled by Eusebio Tanco, for about ₱8 billion, a move intended to lead to the delisting of the company from the Philippine Stock Exchange (PSE). In a disclosure to...
Ayala Land, Inc. (ALI) has agreed to sell its 50 percent stake in Alabang Commercial Center Corp. (ACCC), the entity that owns and operates the prominent Alabang Town Center mall in Muntinlupa City, back to the Madrigal family for ₱13.5 billion. The real estate giant announced in a disclosure to...
The Federation of Filipino Chinese Chambers of Commerce and Industry, Inc. (FFCCCII) unveiled an action plan to intensify economic cooperation between Manila and Beijing, specifically targeting a significant boost to Philippine exports and tourism. The move follows a directive from President...
Water consumers must prepare to pay higher monthly water bills starting January next year, as both East and West zone concessionaires implement an approved round of tariff adjustments. The Metropolitan Waterworks and Sewerage System Regulatory Office (MWSS-RO) said residents should brace for a...
Razon-led International Container Terminal Services Inc. (ICTSI) is investing about ₱10.34 billion to expand and modernize the operations of the ICTSI Rio Brasil Terminal at the Port of Rio de Janeiro. Minister of Ports and Airports Silvio Costa Filho announced the new private investment, which...
Local stock market investors will test whether the main index can stay above the 6,000 level, buoyed by positive sentiment from the United States Federal Reserve (US Fed) and Bangko Sentral ng Pilipinas (BSP) rate cuts, but will also take cues from upcoming US economic data, including inflation and...
ILOILO CITY – A conglomerate of the Razon group’s power distribution services in the Visayas has strengthened its partnership with a South Korean firm. This was after Primelectric Holdings Inc. led by President and CEO Roel Castro conducted a key technical tour of the facilities of Taeyoung...
The Securities and Exchange Commission (SEC) is warning the public that SE Sports or Seek Explores Sports Association Inc. is illegally soliciting investments. The corporate regulator issued an advisory after gathering reports that the entity’s individuals or members are enticing the public,...
West Zone concessionaire Maynilad Water Services, Inc. (Maynilad) is offering septic tank cleaning services to its residential and semi-business customers this December in select parts of Caloocan, Las Piñas, Malabon, Manila, Muntinlupa, Parañaque, Pasay, Quezon City, Valenzuela, and Cavite...
Bank of the Philippine Islands’ microfinance arm, BPI Direct BanKo Inc., A Savings Bank (BanKo), has enlisted NASDAQ-listed ACI Worldwide to advance its payment infrastructure, according to a statement. Under the partnership, BanKo will implement ACI’s issuing and acquiring platform, which is...
Enrique K. Razon-led International Container Terminal Services Inc. (ICTSI), the world’s largest independent terminal operator, has signed a 25-year partnership agreement with Transnet SOC Ltd. for the strategic Durban Container Terminal (DCT) Pier 2 in South Africa. “The landmark agreement...
SM Prime Holdings Inc. (SM Prime) reinforced its push for climate resilience as Vice President for Design, Innovation and Strategy Jessica Sy joined regional policymakers and development leaders at the United Nations Office for Disaster Risk Reduction’s Women International Network for Disaster...
