Philippine Rating Services Corporation (PhilRatings) has assigned National Reinsurance Corporation of the Philippines (Nat Re), the country’s sole professional reinsurer, a financial strength rating of PRS A with a Stable Outlook. An insurer rated PRS A has strong financial security...
The Philippine Stock Exchange index (PSEi) dropped as investors continue to cash out of the market due to the coming holidays. The main index lost 51.52 points or 0.79 percent to close at 6,469.23 as the Property sector led the retreat while Banks bucked the trend. Volume rose to 1.99 billion...
Following a successful international tender activity, the Lopez-led First Gen Corp. (FGen) has granted a contract to TotalEnergies Gas & Power Asia Private Ltd. (TEGPA) for the provision of liquefied natural gas (LNG) cargo in Batangas. In a disclosure to the Philippine Stock Exchange on...
Ayala Healthcare Holdings Inc. (AC Health), a unit of the Zobels' Ayala Corporation, reported that it has acquired a significant minority stake in North Luzon-based pharmaceutical company, St. Joseph Drug (Joleco Resources Inc.). In a disclosure to the Philippine Stock Exchange (PSE), Ayala...
National Home Mortgage Finance Corporation (NHMFC) is raising P533.1 million from its proposed sixth securitization transaction for its NHMFC Bonds 2023. Philippine Rating Services Corporation (PhilRatings) announced that it has assigned Final Issue Credit Ratings of PRS A plus to the P290.0...
ILOILO CITY – MORE Electric and Power Corp. (MORE Power) of the Razon Group remains focused on improving services in this city while preparing for expansion in the provinces of Iloilo and Negros Occidental. “I would like to focus on our commitments here in Iloilo City,” said MORE Power...
JG Summit Holdings President and CEO Lance Gokongwei is taking over the helm of real estate unit Robinsons Land Corporation (RLC) after Frederick D. Go resigned from the post to join the Marcos administration. In separate disclosures to the Philippine Stock Exchange (PSE), RLC and RL Commercial...
Metro Pacific Investments Corporation (MPIC), through wholly-owned subsidiary Metro Pacific Agro Ventures Inc. (MPAV), has amended its agreement to acquire a strategic stake in coconut products producer Axelum Resources Corp. by subjecting the acquisition to profitability targets. While Axelum...
The local stock market was flat as investors continued to take cash out due to the coming long Christmas holiday. The main index shed a marginal 0.52 points to close at 6,520.75 with sectoral indices equally divided. Volume improved to 1.15 billion shares worth P6.32 billion as gainers outnumbered...
After a sluggish start, local shares rose following some positive economic news. The main index added 45.77 points or 0.71 percent to close at 6,521.27 as Banks led the charge although Conglomerates and Miners retreated. Volume was thinner though at 748 million shares worth P4.37 billion as...
State-run Government Service Insurance System (GSIS) has invested in renewable energy firm Alternergy Holdings Corp. to speed up the development of wind power projects in Rizal and Quezon. In a disclosure to the Philippine Stock Exchange on Tuesday, Dec. 19, Alternergy stated that the pension fund...
Quadruple A developer DMCI Homes and Japanese trading conglomerate Marubeni Corporation are teaming up to build a residential condominium along C5 E. Rodriguez Jr. Avenue in Pasig City. In a statement, DMCI Homes said the two firms have signed a memorandum of understanding (MOU) for a strategic...
