The PSEi fell in a knee-jerk reaction to the higher tariffs slapped by the United States (US) on products from the Philippines. The main index lost 101.95 points, or 1.63 percent, to close at 6,145.73, with the retreat led by the services sector, while miners managed to advance as investors bought...
SMDC’s Move In Now program allows qualified buyers to move in within 90 days with only a 5% spot down payment SM Development Corp. (SMDC), the residential arm of Sy-led SM Prime Holdings Inc., has launched a new program, Move In Now, to entice buyers for its...
Araneta-led gaming firm PhilWeb Corp. reported that its losses ballooned to ₱599.2 million last year, 734-percent higher than the ₱71.7-million loss incurred in 2023, mainly due to one-time costs. In a disclosure to the Philippine Stock Exchange, the gaming company said the loss is attributed...
The Securities and Exchange Commission’s (SEC) move to relax the rule on the single business group (SBG) investment limit will benefit conglomerates with multiple listed subsidiaries, such as the SM and Ayala groups, as well as the planned initial public offering (IPO) of GCash. Under the...
AP Renewables Inc. (APRI), the geothermal subsidiary of Aboitiz Power Corporation, together with the Aboitiz Foundation, was recognized by the National Resiliency Council (NRC) as esteemed partners in its Adopt-a-Municipality project. In collaboration with the Department of Environment and Natural...
The PSEi rose further as investors continued to bet on a policy rate cut on expectations of a low inflation print for March. The main index jumped 66.96 points or 1.08 percent to close at 6,247.68 as Banks surged while only the Industrial counter retreated. Volume amounted to 1.31 billion shares...
The Zobel family’s Ayala Corporation and subsidiary AC Ventures Holdings Corporation (ACV) has signed the Investment Agreement for Mitsubishi Corporation’s acquisition of a 6.5 percent stake in GCash owner Globe Fintech Innovations, Inc. (Mynt) for ₱18.4 billion. In a disclosure to the...
Megawide Construction Corp.’s (Megawide) engineering, procurement, and construction (EPC) unit will commence with the construction of the ₱1-billion Block-2 of the ongoing Carbon Market redevelopment. The scope of work under the design and build contract for the Block-2 vertical structure...
The brown taipan, Manuel B. Villar Jr., who recently disclosed that one of his real estate companies earned ₱1 trillion, is back as the Philippines’ richest man, after being briefly replaced by port and gaming magnate Enrique K. Razon Jr., as ranked by Forbes Magazine. There are 15 Filipinos in...
MPH's Makati Medical Center Metro Pacific Health Corp. (MPH), the Philippines’ largest hospital group and a subsidiary of Manuel V. Pangilinan-led Metro Pacific Investments Corp. (MPIC), is looking to acquire four or more hospitals this year. In an interview, MPH Vice Chairman and President...
Filinvest Development Corp., the investment arm of the Gotianun Group, is setting a ₱24-billion capital expenditure (capex) budget for 2024, 20 percent more than the ₱20 billion allotted in 2023, so it can achieve a 20-percent growth for another record year. In a press briefing, FDC Chief...
The Department of Energy (DOE) announced that the liquefied natural gas (LNG) terminal in Batangas has resumed operations following its weekend shutdown, with 1,170 megawatts (MW) from two power plants now back online. However, Excellent Energy Resources Inc. (EERI) is experiencing technical...
