Terra Solar Philippines Inc. (MTerra Solar), a unit of SP New Energy Corporation (SPNEC), announced it has secured a ₱150 billion omnibus loan and security agreement (OLSA) with six local banks. In a disclosure to the Philippine Stock Exchange on Friday, Feb. 28, MTerra Solar said the 15-year...
SM Investments Corporation (SMIC), the flagship of the Sy family, reported a seven percent improvement in consolidated net income to ₱82.6 billion last year from ₱77 billion in 2023 as its banking, real estate, and retail businesses fueled revenue growth. In a disclosure to the Philippine Stock...
Motorists traversing through North Luzon Expressway (NLEX) will have to pay an additional ₱5 at the open system and ₱0.72 per kilometer at the closed system effective this Sunday, March 2. The Toll Regulatory Board (TRB) authorized the toll hike based on the consolidated amount of the...
Robinsons Hotels and Resorts (RHR), the hospitality business unit of Robinsons Land Corporation (RLC), is set to expand further with the construction of new hotels in Pangasinan, Cebu, and Panglao. In a disclosure to the Philippine Stock Exchange, RLC said it will start its expansion in Bohol with...
The local stock market declined as it continues its see-saw trend amid negative geopolitical factors and generally upbeat corporate results. The main index shed 20.87 points or 0.34 percent to close at 6,124.09 as Miners led the retreat with only Banks managing to advance. Volume rose to 534...
Nickel Asia Corp. (NAC), the country’s top nickel producer, reported an almost 60 percent drop in attributable net income to ₱1.52 billion last year from the ₱3.75 billion earned in 2023. In a disclosure to the Philippine Stock Exchange, the firm said this includes a P1.55 billion provision...
Ayala Corporation, the country’s oldest conglomerate, is no longer selling manufacturing subsidiary Integrated Micro-electronics Inc. as the unit has managed to turnaround after measures were taken to cut losses. In an interview, Ayala Chief Finance Officer Alberto M. de Larrazabal said that they...
Lopez-led multimedia firm ABS-CBN Corporation is selling about 70 percent of its 4.4-hectare (ha) prime property in Quezon City to real estate giant Ayala Land Inc. (ALI) for ₱6.24 billion to raise funds to pay off loans. In a disclosure to the Philippine Stock Exchange, ABS-CBN said it signed a...
Big banks’ reserve requirements ratio (RRR) could eventually drop to zero percent by 2028 or the end of the central bank governor’s term, according to Security Bank Corp. Speaking to reporters on Wednesday, Feb. 26, Security Bank chief economist Angelo Taningco said he expects the Bangko...
Long-time executive of Lopez-led First Gen Corporation, lawyer Teodorico Jose “Teod” R. Delfin, has been designated Undersecretary for Planning and Project Development at the Department of Transportation (DOTr), following the organizational restructuring process that newly installed Secretary...
By RENEE VIVIENNE ALAPIT Energy is central to the climate change problem and essential to its resolution. Energy production, which includes burning fossil fuels to produce heat and electricity, is mainly responsible for the greenhouse gases that cover the Earth and trap solar heat. The most...
Despite higher gold and copper prices, Pangilinan-led Philex Mining Corporation reported a 20 percent drop in net income to ₱810 million last year from ₱1.02 billion in 2023 due to higher costs and lower output from the nearly depleted Padcal mine. In a disclosure to the Philippine Stock...
