By Juzel L. Danganan MANILA, Aug. 30 (PNA) — Electricity-market operator Philippine Electricity Market Corp. has reported it is investigating more violations by generation companies on the must-offer rule at the Wholesale…
Category: Business & Economy
COA rejects MR filed by Malampaya consortium for tax case
By Juzel L. Danganan MANILA, August 30 (PNA) – The Court of Appeals has rejected the motion for reconsideration (MR) filed by the Malampaya consortium for its tax case, which decided they…
Olongapo City LGU agrees to sign debt-restructuring deal with PSALM
By Juzel L. Danganan MANILA, Aug. 28 (PNA) – Power Sector Assets and Liabilities Management President and Chief Executive Lourdes Alzona said Friday that Olongapo City Mayor Rolen Paulino has agreed to…
DOTC sets traffic plan dry run for LRT-2 project on Saturday
By Azer N. Parrocha MANILA, Aug. 28 (PNA) — Before presenting to the Metro Manila Development Authority (MMDA) for approval, the Department of Transportation and Communications (DOTC) is first set to test…
EPI, Orka Energy ink deal for Biliran Geothermal Project
MANILA, Aug. 27 (PNA) -– Icelandic-firm Orka Energy has signed a deal with Emerging Power Inc. (EPI) to transfer its 60-percent stake in Biliran Geothermal Inc. ”On Monday, August 24, 2015, renewable…
Peso down anew vs USD
By Joann Santiago MANILA, Aug. 26 (PNA) — The Philippine peso again depreciated to the greenback Wednesday following the Chinese central bank’s decision to cut its main interest rate and banks’ reserve…
ING Bank Manila economist: Improved gov’t spending likely buoyed PHL economy in Q2 ’15
By Joann Santiago MANILA, Aug. 26 (PNA) — An analyst of ING Bank Manila said domestic growth likely improved in the second quarter of the year buoyed by improvement in government spending…
Bourse extends gains
By Leslie D. Venzon MANILA, Aug. 26 (PNA) — Philippine shares ended higher for a second day on Wednesday after their biggest one-day loss in two years, bucking the trend in most…
PHL external trade reaches US$ 60-B in H1 2015
By Kris M. Crismundo MANILA, Aug. 25 (PNA) — The country’s trade of goods with overseas markets in the first semester (H1) of 2015 reached US$ 59.61 billion, the Philippine Statistics Authority…
Gov’t to boost spending to back GDP growth, DBM exec says
MANILA, Aug. 25 (PNA) — The Philippine government has started to boost its spending since June this year in order to support the economic growth, said Department of Budget and Management (DBM)…
(Feature) Cavite houses 1st coffee museum in PHL
By Ma. Cristina C. Arayata MANILA, Aug. 25 (PNA) — “How do you like your coffee?” We’re often asked this question whenever we order or request for a cup of coffee. Our…
Global Finance cites Tetangco as among World’s top central bankers
By Joann Santiago MANILA, Aug. 25 (PNA) — Global Finance cited Bangko Sentral ng Pilipinas (BSP) Governor Amando Tetangco Jr. anew as among the top central bankers in the world, his fifth…
Peso slightly recovers vs. USD
By Joann Santiago MANILA, Aug. 25 (PNA) — The Philippine peso recovered against the US dollar on Tuesday as investors took profit following the dollar’s recent rally. It ended the day at…
Southwest Luzon signs two-year power supply deal with Meralco
By Juzel L. Danganan MANILA, Aug. 25 (PNA) – Southwest Luzon Power Generation Corp. (SLPGC) has signed a two-year power supply agreement (PSA) with the Manila Electric Company (Meralco) effective March 26,…
Norwegian firm may put up composite LPG cylinder plant in PHL
By Juzel L. Danganan MANILA, Aug. 25 (PNA) — Norwegian-firm Hexagon Ragasco may put up a composite cylinder manufacturing plant in the Philippines that will be decided on the demand, the company…