Ayala Corporation is giving its shareholders shares of stock of subsidiary AC Energy Corporation (ACEN) worth about P4.5 billion as a property dividend. In a disclosure to the Philippine Stock Exchange, Ayala said its Board of Directors has approved the declaration of property dividends consisting...
SM Investments Corporation’s shareholders have approved the company’s acquisition of Philippine Geothermal Production Company (PGPC) through the merger of SMIC with PGPC owner Allfirst Equity Holdings. In a statement SMIC said the acquisition is in line with its strong commitment to...
The local stock market bounced after suffering losses in past sessions on the back of some bargain hunting. The main index recovered 45.54 points or 0.66 percent to close at 6,909.45 as the Mining and Oil and Financials counters led the advance of all sectors. Volume declined to 8.5 billion shares...
Atlas Consolidated Mining and Development Corporation almost tripled its net income to a new record of P1.22 billion for the first quarter of 2022 from the P420 million for the same period last year. In a disclosure to the Philippine Stock Exchange, the firm said higher production and higher metal...
Local share prices fell on continuing concerns over China’s economy and risks posed by Russia’s invasion of Ukraine. The main index dropped 116.11 points or 1.66 percent to close at 6,863.91 as the Mining and Oil counter led all sectors in the retreat. Volume jumped to 816 million shares worth...
SM Investments Corporation, the flagship of the Sy family, remains on the lookout for high growth potential companies in the Philippines to beef up its investment portfolio. “We continue to be cognizant of companies in the Philippines that have the potential for high growth in the country,”...
Starting next Monday, May 2, all flights departing and arriving at Clark will be at the new terminal building, the Clark International Airport (CRK) announced Wednesday, April 27. The CRK New Terminal is capable of handling 8 million passengers annually and allows airport users to move with ease....
The local stock market dropped after another major oil price hike as well as concern over the impact of the Covid surge in China. The main index lost 40.81 points or 0.58 percent to close at 6,890.02 as Holding Firms led the retreat although the Industrial and Property sectors advanced. Volume...
The PSEi managed to end higher after trading weaker earlier in the day as bargain hunters stepped in before the bourse closed. The main index rose 22.24 points or 0.32 percent to close at 7,020.83 although only the Holding Firms counter advanced while the Mining and Oil sector led decliners. Volume...
Megaworld Corporation expects sales of P1.9 billion from the fourth residential condominium development inside the 34-hectare The Upper East township in Bacolod City. In a disclosure to the Philippine Stock Exchange, the firm said the newly-launched, 12-storey Herald Parksuites will offer 246 units...
RL Commercial REIT Inc. (RCR), the Philippines’ largest real estate investment trust, has finalized the infusion of the P5.9 billion Robinsons Cyberscape Gamma by its sponsor Robinsons Land Corporation (RLC). To be implemented via a property-for-share swap transaction, RLC will get 777.81 million...
This week, the local market will be taking cues from firms that will be releasing their first quarter earnings reports while sentiment will continue to suffer from concerns over rising US interest rates which makes equities less attractive. “Next week, the local market is expected to continue...
