Regional stocks, including local shares, fell as investors were spooked by fears of a recession in the US. The main index dropped 88.53 points or 1.32 percent to close at 6,605.30 led by the Services sector which weakened despite the hike in Globe’s stock price. Volume remained tepid at 514...
Universal Robina Corporation (URC), the food and beverage unit of the Gokongwei Group, reported that its core net income improved by five percent year-on-year to P6.7 billion in the first half of the year as higher tax provisions offset its operating income growth. In a disclosure to the Philippine...
It isn’t a rosy year for Consunji-led Semirara Mining and Power Corporation (SMPC), as its first half income suffered 34 percent downswing to P12.6 billion from a record P19.2 billion within the same six-month stretch in 2023 – and that was mainly precipitated by the apparent weakening of coal...
Mitsubishi UFJ Financial Group (MUFG) and Ayala Corporation are acquiring fresh stakes in Globe Fintech Innovations, Inc. (Mynt), in a deal that more than doubled the valuation of the parent company of GCash to $5 billion (P286.4 billion) from $2 billion in 2021. In disclosures to the Philippine...
Local share prices jump on hopes that the Fed will cut rates in September. The main index rose by 74.74 points or 1.13 percent to close at 6,693.83 with Banks leading the charge. However, volume was low at 450 million shares worth P4.39 billion as gainers beat losers 104 to 75 with 50 unchanged....
Aboitiz Power Corporation subsidiary Therma South, Inc. (TSI) recently released 84 olive ridley sea turtle or pawikan hatchlings following the nesting of 120 eggs along the power plant's coastline in Davao del Sur last March. In total, TSI and the Environmental Management Bureau, along with...
Food and beverage firm RFM Corporation announced that its Board of Directors has approved a cash dividend of P300 million or P0.089033 per share payable on September 13, 2024 with record date as of August 16, 2024. The firm noted that, for the current year 2024, it has declared a total of...
Meralco PowerGen Corporation, the power investment arm of Manila Electric Company, is eyeing to secure approval from the Philippine Competition Commission (PCC) on the triarchy deal that it sealed for the $3.3 billion integrated liquefied natural gas (LNG) project in Batangas province. MGen...
Listed firm Alternergy Holdings Corporation is gaining traction on hitting the 500-megawatt scale on its portfolio buildup, with the targeted 2025 completion of its 28MW Solana solar power project in Hermosa, Bataan adding up to its well-calculated capacity growth. The solar farm project which...
China Banking Corporation (Chinabank), a lender controlled by the Sy and Dee families, saw its net income reach a record high P11.4 billion in January to June 2024, up 6 percent from P10.8 billion in the same period last year on the back of stronger core lending and deposit-taking activities. ...
The Philippine Red Cross (PRC) and Ayala Corp.’s Healthway Cancer Care Hospital (HCCH) on July 25 signed a memorandum of agreement to make blood supply affordable and accessible to cancer patients. Under the agreement, PRC will deliver blood to HCCH weekly or as necessary during...
Lopez-led ThermaPrime Drilling Corporation (ThermaPrime) has beefed up its geothermal drilling business segment with three more rigs that it can immediately utilize for the expansion of its operations. According to the company, two of the newly acquired drilling rigs are of 1,500 horsepower (hp);...
