JG Summit Holdings Inc., the flagship of the Gokongwei Group, is considering various options to reduce its exposure to the massive losses of its petrochemical business—including possible divestment. According to Abacus Securities Corporation, JG Summit "implied that all options are on the table"...
Tiger Resort, Leisure and Entertainment Inc. (TRLEI), the local unit of Japan’s Universal Entertainment Corporation and owner of the Okada Manila integrated resort, is looking to attract more tourists from Japan, South Korea, and Southeast Asian countries to boost both gaming and hotel revenues....
Real estate firm Italpinas Development Corporation (IDC) announced that businessman Benjamin Tan Co had invested about P188 million to acquire a 15 percent stake in the company as its new investor-partner. In a statement, IDC said it has inked an agreement for the entry of Co as a strategic...
Sy-led SM Investments Corporation, through SM Store and SM Retail, has partnered with Mastercard and SM Foundation to launch a new initiative aimed at empowering Filipino students pursuing careers in Science, Technology, Engineering, and Mathematics (STEM). In a statement, the conglomerate said...
The local stock market dropped on concern over the weaker peso and the escalation of the war between Russia and Ukraine. The main index fell 82.88 points or 1.21 percent to close at 6,780.13 with Conglomerates leading the retreat while Miners bucked the trend. Volume fell to 605 million shares...
Putting the spotlight on the sustainable approach to value creation, Jaime Z. Urquijo, Ayala Corporation's chief sustainability and risk officer, highlighted the conglomerate’s journey to long-term sustainability at the recently concluded Manila Bulletin Sustainability Forum on November 19, 2024....
The Philippine Stock Exchange (PSE) has suspended trading of shares of SFA Semicon Philippines Corporation (SSP) as it moves closer to voluntary delisting after the completion of a tender offer by its parent company, SFA Semicon Co. Ltd. (SFA Korea), which resulted in ownership of 99.41 percent of...
A month after connecting to Bohol's power grid, the Yuchengco-led PetroEnergy Resources Corp. announced that its Dagohoy Solar Project has been switched on and is expected to begin contributing to the grid. In a disclosure to the Philippine Stock Exchange on Thursday, Nov. 21, PetroEnergy said that...
To enhance grid stability in Northern Mindanao, the Energy Regulatory Commission (ERC) has approved a P2.34 billion capital expenditure (CAPEX) project by the National Grid Corporation of the Philippines (NGCP). In a statement, the ERC announced on Thursday, Nov. 21, that it has greenlit NGCP's...
The local stock market fell on profit-taking following a strong three-day bounce. The main index lost 112.62 points or 1.61 percent to close at 6,863.01 as Conglomerates led the drop with only the Services sector managing to advance. Volume was stable at 1.37 billion shares worth P5.64 billion as...
Terra Solar Philippines, a subsidiary of SP New Energy Corp. (SPNEC), has commenced construction on the world's largest solar and battery power facility in the Philippines, following a successful contract with a Chinese energy firm. The groundbreaking ceremony, held on Thursday, Nov. 21, marked the...
The PSEi continues to rally following last week’s steep dive and is now close to the 7,000 level as the central bank said its rate cut plan is unchanged while investors are more upbeat now with US-Philippine relations under incoming President Trump. The main index surged by 172.44 points or 2.53...
