The Fiscal Incentives Review Board (FIRB) has approved the tax incentives for a P1.5-billion Cebu-based roll on roll off (RoRo) operator that aims to help modernize the shipping industry and increase competition. Finance Secretary Carlos G. Dominguez III said Tuesday, March 15, that the FIRB...
Real estate giant Ayala Land Inc. is planning to raise up to P12 billion from the issuance of bonds to fund its capital expenditures this year as well as for the refinancing of obligations. Philippine Rating Services Corporation (PhilRatings) said it has assigned its highest Issue Credit Rating of...
The PSEi plunged to a six-month low as the impact of Russia’s invasion of Ukraine is seem to affect the growth of Asian economies. The main index fell 295.24 points or 4.15 percent to close at 6,816.95, it’s lowest since Sept. 1, 2021 when it ended at 6,785.94. The Services sector led the drop...
Figaro Coffee Group (FCG) is gearing up to expand its local store presence in order to cater to more Filipinos nationwide as the economy reopens further. In a disclosure to the Philippine Stock Exchange, the firm said it has upcoming store openings lined up in Lipa, Batangas; Ortigas business...
Government agencies have issued a Joint Administrative Order (JAO) providing for a “safe harbor” that will make online platforms also liable for the violations committed by their online merchants as government tighten its watch amid burgeoning e-commerce transactions in the country. JAO 2022-01...
The story of Bitshares Labs Inc., or simply BLINC, is set in the backdrop of pine trees in Baguio City. In the heart of one of the country’s favorite summer destinations, a group of freelancers headed by Jan Emmet M. Yngson, now BLINC's President/CEO, saw an opportunity to build a company that...
Shakey’s Pizza Asia Ventures, Inc. has opened its first outlet in Singapore at the Lucky Plaza Mall along Orchard Road, catering to both locals and the Filipino community. In a disclosure to the Philippine Stock Exchange, Shakey’s Pizza said the store was franchised to Brenrich Pte. Ltd, a...
AREIT, Inc. (AREIT), the first Philippine real estate investment trust, will enter a second property-for-share swap with its sponsor AyalaLand,Inc.(ALI) worth P11.26 billion. In a disclosure to the Philippine Stock Exchange, the firm said the transaction will involve six Cebu-based office buildings...
The Securities and Exchange Commission (SEC) has approved the initial public offering (IPO) of stock brokerage firm CTS Global Equity Group, Inc. worth up to P1.38 billion. The Commission En Banc resolved to render effective the registration statement of CTS Global covering 6.88 billion common...
PLDT Inc. and wireless unit Smart Communications, Inc. (Smart) secured more than 50,000 fixed and wireless permits to build their telco infrastructure as of last month, the telcos announced March 10. The government's move to cut red tapes in the permitting process for telcos helped PLDT and Smart...
The local stock market lost most of its intraday gains but still managed to end in the green as oil prices rose further due to the war in Ukraine. The PSEi inched up 12.15 points or 0.17 percent to close at 6,989.88 as Banks led the advance while Conglomerates and Mining firms retreated. Volume was...
San Miguel Food and Beverage, Inc. (SMFB) reported that its consolidated net income rose 40 percent to P31.4 billion last year, inching forward to the 2019 pre-pandemic level. In a disclosure to the Philippine Stock Exchange, the firm said consolidated revenues grew 11 percent compared to the prior...
