MANILA, Oct. 15 (PNA) — Cash remittance inflows to the Philippines posted a negative growth in August 2015 and Barclays forecasts this to be the trend for the third quarter given the…
Category: Business & Economy
FPIs post USD 1.7-B net outflows in September 2015
MANILA, Oct. 15 (PNA) — Registered foreign portfolio investments for September 2015 amounted to USD 1.4 billion, reflecting a 22.6 percent growth from the USD 1.1 billion posted last month. However, outflows…
NEDA: PHL still one of Asia’s top performers even with 6%-6.5% GDP growth
By Leslie D. Venzon MANILA, Oct. 14 (PNA) — The economy expanded in the third quarter, bolstering expectations of hitting a 6 to 6.5-percent full year gross domestic product (GDP) growth which…
Smart vows to support preparedness by joining disaster communication forums
MANILA, Oct 14 (PNA) — Telco giant Smart Communications (Smart) on Wednesday vowed to continuously support promote the culture of preparedness by continuously participating in regional disaster communication conferences. Aside from providing…
EDC stops drilling activity in Chilean geothermal project
MANILA, Oct 14 (PNA) — Lopez-led Energy Development Corp. (EDC) halted the drilling activity in its Chilean geothermal project due to drop in the prices of fossil fuels. In a statement, EDC…
PSE asks gov’t to open clearing and settlement operations during APEC week
MANILA, Oct. 14 (PNA) — The Philippine Stock Exchange, Inc. (PSE) has asked the Bangko Sentral ng Pilipinas (BSP) to make financial clearing and settlement operations among the services available to the…
PSEi slips on profit-taking
MANILA, Oct. 14 (PNA) — The local stock barometer tumbled below 7,000-level on Wednesday on thin volume and as investors locked in gains amid lingering China growth fears. The Philippine Stock Exchange…
Jollibee Foods buys 40% stake in US burger chain for USD 99M
By Leslie D. Venzon MANILA, Oct. 13 (PNA) — Homegrown Jollibee Foods Corp. (JFC) is ramping up its presence in the United States with the acquisition of 40-percent stake in American burger…
Global cloud computing technology firm sees huge business opportunities in PHL
By Leslie D. Venzon MANILA, Oct. 13 (PNA) — A leading global provider of cloud business management software sees huge business opportunities in the Philippines as more local small, medium and large…
Sindicatum RE taps Sterling and Wilson for 23-MW solar farm
MANILA, Oct. 13 (PNA) – Singapore-based developer Sindicatum Renewable Energy taps Sterling and Wilson for the construction of its 23-megawatt (MW) solar farm at Clark Freeport Zone. ”The new project in Clark…
Smart expands Surf Abroad data roaming package to 110 countries
By Azer N. Parrocha MANILA, Oct. 13 (PNA) — Telecom giant Smart Communications (Smart) announced on Tuesday that it has expanded the coverage of its Surf Abroad 550 data roaming package to…
Developer breaks ground for third subdivision project in Lapu-Lapu City
CEBU CITY, Oct. 13 (PNA) — Johndorrf Ventures Corp. (JVC) has broken ground for Portville Prime, its third subdivision that carries the successful brand of economic to mid-range housing, along Mactan Airport…
GNPower targets financial close of 600-MW power plant in Bataan this year
By Juzel L. Danganan CEBU CITY, Oct. 13 (PNA) – GNPower Ltd. Co. is targeting to reach the financial closing of its 600-megawatt (MW) coal fired power plant in Bataan this year….
Eastern Petroleum diesel prices up 70 c/ltr Tuesday
MANILA, Oct. 12 (PNA) – Eastern Petroleum Corp. said it will increase the price of its diesel products by 70 centavos per liter at 6:00 a.m. on Tuesday. The independent player explained…
PSEi extends gains
By Leslie D. Venzon MANILA, Oct. 12 (PNA) — Local share prices at the Philippine Stock Exchange (PSE) extended modest gains for a second day on Monday, tracking an upbeat sentiment in…