The local stock market dropped further on growing fears that the US will go into recession. The main index fell 70.30 points or 1.07 percent to close at 6,496.50 as the Mining and Oil sector led the retreat with only the Industrial counter managing to hold its ground. Volume was stable at 558...
Aboitiz InfraCapital Inc. (AIC) has closed its acquisition from Megawide Construction Corporation and GMR Airports International, B.V. (GAIBV) for the P25 billion acquisition of the Mactan-Cebu International Airport. In a disclosure to the Philippine Stock Exchange, Megawide said the transaction...
Prime Asset Ventures Inc. (PAVI), an emerging leader in the country’s public infrastructure industry, has officially listed its real estate investment trust subsidiary, Premiere Island Power REIT Corporation (PREIT) on the Philippine Stock Exchange. As a real estate investment trust company,...
The local stock market dropped on concern that the US Federal Reserve will keep rates high as inflation remains elevated. The main index lost 48.27 points or 0.73 percent to close at 6,566.80 as the Services sector led all counters in the retreat. A total of 2.06 billion shares worth P7.27 billion...
Upson International Corp. (Upson) reported a 68.6 percent jump in net income rise to P400.23 million in the first nine months of 2022 from the P237.38 million booked for the same period last year. In a statement, the firm said net sales improved 10.17 percent to P7.03 billion from the P6.38 billion...
Rizal Commercial Banking Corporation is planning to spin-off its trust and investment business into a Stand-Alone Trust Corporation (SATC) as approved by the bank’s Board of Directors. In a statement, RCBC said its Head of Trust and Investments Group (TIG) Dr. Robert Ramos has announced to the...
The local stock market moved up after news that US inflation slowed down in November, boosting hopes of less aggressive interest rate hikes. The main index added 32.69 points or 0.50 percent to close at 6,615.07 as Conglomerates led the advance but the Property counter stayed in the red. Volume...
Eagle Cement Corporation is getting ready for its voluntary delisting from the Philippine Stock Exchange as its public float dropped to less than one percent after San Miguel Corporation acquired P12.61 billion Eagle shares through a tender offer. In a disclosure to the Philippine Stock Exchange,...
Alliance Global Group Inc. (AGI) is optimistic that its gaming and tourism businesses will much stronger this year specially with the expected reopening of China which will release a huge wave of revenge spending. In an interview, AGI Vice Chairman and CEO Kevin Tan said they are currently taking...
Leisure & Resorts World Corporation (LRWC) said its stockholders have approved the issuance of 691,200,000 common shares to raise up to P1.85 billion in a new round of private placement. In a statement, LRWC said the issuance was approved through its Special Stockholders’ Meeting held on...
A member of the House minority bloc has admitted to being swayed by the changes he has seen on the controversial Maharlika Investment Fund (MIF) bill, which majority solons have been aggressively pushing for. Northern Samar 1st district Rep. Paul Daza (Facebook) Senior Deputy Minority Leader and...
The PSEi lost most of its early gains but managed to remain in the green at the end of trading. The main index ibched ip 5.08 points or 0.08 percent to close at 6,585.20 mainly on the strength of Banks as the Services and Property counters retreated. Volume was lower at 570 million shares worth...
