The local stock market managed to inch up as the higher August inflation rate of 5.3 percent versus 4.7 percent in July was already expected. The main index added 10.32 points or 0.17 percent to close at 6,225.00 as Conglomerates led the advance while Banks and Property firms retreated....
Bank of Commerce (BankCom), the banking arm of conglomerate San Miguel Corporation (SMC), was assigned an Issuer Credit Rating of PRS Aa plus (corp.) with a "Stable Outlook" by Philippine Rating Services Corporation (PhilRatings). PhilRatings said an Issuer Credit Rating is an opinion on the...
Instead of preparing to divest its stake in Metro Pacific Investments Corporation (MPIC), the Government Service Insurance System (GSIS) has been buying more shares to increase its stake in the conglomerate—enough to derail the management-led tender offer and delisting plan. In a disclosure to...
The local stock market ended higher ahead of the Philippine inflation report for the month of August while the US jobs data released last Friday also boosted regional bourses. The main index added 33.62 points or 0.54 percent to close at 6,214.68 as the Property sector led the advance while...
The Philippine Stock Exchange (PSE) reported that its wholly-owned subsidiary, Securities Clearing Corporation of the Philippines (SCCP), has successfully migrated to a shortened settlement cycle of T+2. “This migration is a significant advancement in the domestic capital market and will...
The planned P402 million acquisition of a 67 percent stake in publicly-listed LMG Corporation by Maxwealth Infinity Holdings Corporation (MIHC) has been terminated. The acquisition of a majority stake in LMG was intended for the backdoor listing of the firm at the Philippine Stocks Exchange (PSE)....
The Bureau of the Treasury reported that government subsidies to state-owned companies increased in July, with the majority of the funds being used to support the universal healthcare program. The national government provided P33.24 billion in financial aid to government-owned and controlled...
The local stock market lost most of the day’s gains but still managed to kick off the new month in the green. The main index inched up 5.81 points or 0.09 percent to close at 6,181.06 with sectoral indices evenly split. Volume jumped to 2.11 billion shares worth P11.51 billion as gainers...
SM Investments Corporation (SMIC), the Sy family’s flagship and one of the leading conglomerates in the country, continues to provide growth opportunities to its micro, small and medium enterprise (MSME) partners across its core businesses of retail, property, and banking. In a statement, the...
The Energy Regulatory Commission has granted the plea of power utility giant Manila Electric Company (Meralco) and its affiliate-firm Panay Energy Development Corporation (PEDC) on their contract price adjustment. In tandem with that ruling of the Commission had also been the approval on a...
The local stock market plunged as investors took profits on the last day of the month of August amid continuing worries about the economies of the US, China, and the Philippines. The main index fell 120.04 points or 1.91 percent to close at 6,175.25 as the Property counter plummeted while...
To honor the vibrant community of Filipino bikers, Shell Advance launches the "Ride ng Buhay Mo" campaign which delves into the transformative power of long rides, the challenges faced by everyday city riders, and the pursuit of thrilling adventures. Shell Advance shared how the oil has played a...
