Philippine leading oil firm Petron Corp. is negotiating for the renewal of a 10-year supply contract for crude oil that shall be fed and processed at its Port Dickson refinery in Malaysia. According to company documents, Petron is “in negotiation for renewal” of its supply contract for Tapis...
The Department of Finance (DOF) has asked the management of the state-run Philippine Crop Insurance Corp. (PCIC) to submit the detailed financial status and computation of its contingent liabilities. PCIC Chairman Carlos Dominguez In a statement, Finance Secretary Carlos G. Dominguez III said he...
State-run Philippine Crop Insurance Corp. (PCIC) is at risk of suffering heavy losses once major catastrophic events occur, which would eventually be shouldered by the taxpayers, an in-depth analysis by the Insurance Commission (IC) revealed. According to the IC analysis released by the Department...
To help cushion the impact of the pandemic on the local economy, the state-run Philippine Amusement and Gaming Corp. (Pagcor) approved a financial relief to cities and local government units (LGUs) hosting the Casino Filipino branches. In a statement, Andrea D. Domingo, Pagcor chairman and chief...
Leisure & Resorts World Corporation is now venturing into sports betting after wholly-owned subsidiary Total Gamezone Xtreme Inc. (TGXI) has been accredited by the Philippine Amusement and Gaming Corporation (PAGCOR) accreditation. In a disclosure to the Philippine Stock Exchange, LRWC said...
The Department of Trade and Industry (DTI) has decided not to impose provisional safeguard duty on imported petrochemical products amid inconclusive findings in its preliminary investigation. Instead, DTI Secretary Ramon M. Lopez has referred to the Tariff Commission for formal investigation the...
Despite difficulties in raising revenues amid the pandemic, the national government opted to increase the amount of subsidy it extended to state-owned corporations due to mounting health insurance claims. Data from the Bureau of the Treasury revealed that the financial support extended to...
PT&T Corp. announced on Friday, Sept. 24, the appointment of Roberto B. Ortiz as chairman of the board. As the PT&T expands its footprint nationwide and solidify its digital transformation services, Ortiz’s entry is "timely as we shift gear towards raising funds and start our investor...
San Miguel Corp. (SMC) on Friday, Sept.23, broke ground for its P95 billion Pasig River Expressway (PAREX), a 19.37-kilometer, green, hybrid expressway. PAREX Ground Breaking (218) 9-24-2021 The six-lane elevated expressway will run along the banks of the river, from Radial Road 10 in Manila to C-6...
Eagle Cement Corp., a publicly-listed firm controlled by the family of tycoon Ramon S. Ang, is acquiring 100 percent of the capital stock of sister company Solid North Mineral Corp. (SNMC) for P3.57 billion. In a disclosure to the Philippine Stock Exchange, the firm said on Friday, Sept. 24, that...
State-owned Philippine Crop Insurance Corp. (PCIC) needs to be run by “industry professionals” to stop the company’s money losing business, the government’s chief economic manager said. Finance Secretary Carlos G. Dominguez III, who officially took over the chairmanship of PCIC on Friday,...
The NLEX Connector is on track to finish construction by first-quarter next year as the toll road’s first five-kilometer section is now half complete, a unit of the Metro Pacific Tollways announced. NLEX-Connector_Board-Map-scaled J. Luigi L. Bautista, NLEX Corp. president and general manager...
