A young executive of Aboitiz Power Corporation has spilled the inconvenient truth that renewable energy (RE) developers have been distorting the ‘cheap electricity narrative’ because of their proclivity to downplay other cost components linked to the variability of their technologies –...
Benjamarie Therese N. Serrano, one of the most trusted corporate executives of billionaire Manuel B. Villar, has passed away at the age of 61. In a disclosure to the Philippine Stock Exchange, Villar’s AllHome Corporation said the low-key Serrano, popularly called Jing, passed away on Sept. 5,...
San Miguel-led New NAIA Infra Corporation (NNIC), the private entity assuming management of the Ninoy Aquino International Airport (NAIA) on September 14, assured the public that airport operations will continue as usual upon their takeover. In a statement, the firm said “Any future changes or...
MPCALA Holdings Inc., a unit of Metro Pacific Tollways Corporation, to complete the entire 45-kilometer Cavite-Laguna Expressway (CALAX) by the third quarter of 2025. In a statement, the firm said it will open the longest section of CALAX by the first quarter of 2025. The CALAX Governor’s Drive...
Alliance Global Group Inc. (AGI), the investment holding company of tycoon Dr. Andrew Tan, is ramping up its hotel business expansion target to over 12,000 rooms by 2028 to 2029 instead of 2030, as it banks on the growth of the tourism industry. In an interview, AGI President and CEO Kevin Andrew...
The local stock market weakened as investors pocketed gains while wait for the announcement of the US August inflation rate. The main index dropped 39.75 points or 0.57 percent to close at 6,944.88 as the Property sector led the decline while the Services counter managed to hold its ground. Volume...
The Board of Investments (BOI) granted ACEN Corp. a green lane certificate of endorsement for its 587-megawatt solar power plant in Zambales. In a statement, BOI said the construction of the San Marcelino solar power plant project will "employ up to 2,000 skilled workers, with Phases 1 and 2 alone...
Alfamart, the SM Group’s super minimart chain, has opened its 2,000th store in a residential village in Sta. Rosa, Laguna, as it continues to enhance grocery accessibility in local neighborhoods and communities. "Alfamart sees immense value in serving underserved communities. Our 2,000th store...
Owing primarily to the ancillary services as component of the transmission charge, the overall tariff of power utility giant Manila Electric Company (Meralco) had climbed by P0.1543 per kilowatt hour (kWh) in this September billing to P11.7882 per kWh versus P11.6339 per kWh last month. The tariff...
The PSEi closed flat after late selling pulled it back down from its peak well above the 7,000 resistance level. The main index end higher by just 0.38 points or 0.005 percent at 6,984.63 as half the sector indices declined. Volume was strong at 777 million shares worth P7.26 billion as gainers...
Cebu Pacific Air is asking San Miguel Corp.-led New NAIA Infrastructure Corporation (NNIC) to ensure that all necessary operational support and systems are in place before any terminal changes are implemented. In a statement, the country’s largest carrier said that while it fully supports the...
The exclusion of off-grid areas from the coal moratorium is being sought so the lingering woes of consumers over power service interruptions as well as exorbitant rates can be resolved, according to an industry player that has been providing electricity services to these sites. DMCI Holdings...
