The Philippines saw a significant 29.6 percent drop in foreign direct investment (FDI) with net inflows of $655 million in October 2023 from the $930 million net inflows registered in the same month in 2022. The October figure has brought cumulative net FDI inflows for the period...
The Yuchengco family’s holding company House of Investments (HI) is diversifying its business portfolio by strategically expanding into the financial services and property sectors. In a disclosure to the Philippine Stock Exchange, the firm said its diversification includes the P15.7 billion...
The Yuchengco family’s holding company, House of Investments (HI), continues to divest from former subsidiary EEI Corporation, this time with the sale of a 4.5 percent stake to a Singaporean firm. In a disclosure to the Philippine Stock Exchange (PSE), HI said it has sold 4.5 percent of EEI to...
The action taken by the Bangko Sentral ng Pilipinas (BSP) on allowing banks to expand green financing facilities is expected to accelerate renewable energy (RE) installations in the country that will usher in comprehensive decarbonization of the Philippine economy moving forward. As cited by Energy...
With the need to get things ready and all set for the holidays, gifts need to be taken care of, and still well thought out. Here are three reasons why SM’s gifting solutions can make giving easy and fun. 1. Allowing the recipients to choose the gifts they want can be a gift in itself. No...
SM Investments Corporation (SMIC), the flagship of the Sy family, and its banking arm BDO Unibank Inc. are cautiously optimistic about their prospects next year even as they expect to wrap up 2023 with decent growth numbers. In an interview, SMIC Vice Chairperson Teresita Sy-Coson said “this year...
SM Investment Corporation’s (SMIC) subsidiary 2GO Group Inc., the Philippines' largest transportation and logistics solutions provider, was selected to be the primary logistics solutions and delivery partner for WalterMart Supermarket’s e-commerce business. In a statement, SMIC said this...
The 13.2-megawatt (MW) Nabas-2 Wind Power Project of PetroWind Energy Inc. (PWEI) has secured fiscal incentives from the Board of Investments (BOI). PWEI is a joint business between Yuchengco's PetroEnergy Resources Corporation (20 percent), PetroGreen Energy Corporation (PGEC) (40 percent), and...
Metro Pacific Tollways Corporation (MPTC), a subsidiary of Manuel V. Pangilinan-controlled conglomerate Metro Pacific Investments Corporation (MPIC), needs to raise about $600 million if its bid to invest in a major tollway company in Indonesia is successful. In a virtual briefing, MPTC Chief...
GT Capital Holdings Inc., the Ty family conglomerate, reported that its consolidated net income rose 54 percent to P23.09 billion in the first nine months of 2023 from the P14.95 billion earned in the same period last year, boosted by its banking and automotive businesses. In a disclosure to the...
Metro Pacific Investments Corporation, now a privately-held conglomerate of the First Pacific Group and other top conglomerates, reported a 37 percent growth in consolidated core net income to P16.2 billion for the first nine months of 2023 from the P11.8 billion earned in the same period last...
SM Investments Corporation (SM Investments) was lauded once again as one of the “World’s Best Employers” for the fourth time by global media firm Forbes. The World’s Best Employers 2023 list, in partnership with market research firm Statista, was made to determine the companies that...
