MANILA, Oct. 5 (PNA) — The Philippine peso rallied against the US dollar Monday, in line with regional currencies, following the below-expected rise in US non-farm payrolls for September 2015. It ended…
Category: Business & Economy
Seaoil, Eastern Petroleum to cut diesel but increase gas prices
By Juzel L. Danganan MANILA, Oct. 5 (PNA) — Seaoil Philippines Inc. (SPI) and Eastern Petroleum Corp. will cut diesel but increase gasoline prices on Tuesday. In separate advisories, SPI said it…
WB still sees above 5% output for PHL in ’15, ’16
By Joann Santiago MANILA, Oct. 5 (PNA) — World Bank (WB) continues to see strong output for the Philippines for 2015-16 even if it slashed growth projections for the two-year period due…
Malampaya begins gas production for new platform
MANILA, Oct. 5 (PNA) — The new platform of the Malampaya power station, which costs US$ 1 billion, has started to produce its gas supply to three power plants of the Luzon…
Globe Telecom signs Php7-B loan with Metrobank
By Leslie D. Venzon MANILA, Oct. 2 (PNA) — Globe Telecom Inc. has secured a Php7-billion loan facility from the Metropolitan Bank and Trust Company to finance its capital expenditures. In a…
Standard Chartered lowers PHL inflation forecasts for 2015, 2016
By Leslie D. Venzon MANILA, Oct. 1 (PNA) — British bank Standard Chartered has lowered its inflation forecast for the Philippines this and next year amid a steady downtrend despite risks from…
DOE grants Force Majeure for Service Contract 75
By Juzel L. Danganan MANILA, Oct. 1 (PNA) — The Department of Energy (DOE) has granted the Force Majeure for Service Contract 75, which is located in the northwestern Palawan Basin. In…
DOE certifies 12-MW Maibarara geothermal expansion & 50-MW solar farm as commercial
By Juzel L. Danganan MANILA, Oct. 1 (PNA) — The Department of Energy (DOE) has issued the Certificate of Commerciality (COC) for the 12-megawatt (MW) Maibarara expansion and the 50-MW Tarlac solar…
PDIC raises Php13.6-M from public bidding
MANILA, Sept. 30 (PNA) — The Philippine Deposit Insurance Corporation (PDIC) successfully raised a total of Php13.6 million from the sale of 48 real properties of closed banks during its sealed bidding…
Robinsons eyes establishment of giant mall in Legazpi
By Danny O. Calleja LEGAZPI CITY, Sept. 29 (PNA) — The race towards locating in this prime Bicol city is on among the country’s giant business empires. Robinsons Retail Holdings, Inc. of…
BSP eyes 0.2-1% inflation rate for September ’15
By Joann Santiago MANILA, Sept. 29 (PNA) — The Banko Sentral ng Pilipinas (BSP) continues to see below-target inflation in September 2015 but cited that the impact of El Niño on domestic…
Court stops PSALM from terminating IPPA contract with San Miguel power unit
By Juzel L. Danganan MANILA, Sept. 29 (PNA) – The Regional Trial Court (RTC) of Mandaluyong City has stopped the Power Sector Assets and Liabilities Management Corp. (PSALM) from terminating its Ilijan…
Global Business Power eyes building coal-fired power plant in Luzon
By Juzel L. Danganan MANILA, Sept 29 (PNA) – Global Business Power Corp. is eyeing to build a coal-fired power plant in Luzon – its first project in the island. Jaime Azurin,…
PHL stocks rebound on bargain-hunting
By Leslie D. Venzon MANILA, Sept. 29 (PNA) — Share prices snapped a five-day losing streak on Tuesday, as investors hunted for bargains. The benchmark Philippine Stock Exchange index (PSEi) advanced 43.70…
Alveo sees PhP 10.7-B sales from new Makati office tower
MANILA, Sept. 29 (PNA) — Property giant Ayala Land Inc. (ALI) expects PhP 10.7 billion in sales from its new flagship office tower, considered the most expensive office spaces in Makati Central…