MANILA, Aug. 11 (PNA) — The manufacturing sector continued to contract in terms of volume and value in June 2015 due to the sustained decrease in global demand and business interruptions during…
Category: Business & Economy
BPI’s 2015 H1 net income at Php9.3-B , up 16% y-o-y
MANILA, Aug. 11 (PNA) — The Bank of the Philippine Islands (BPI) registered net income of Php9.3 billion for the first half (H1) of 2015, a 16 percent improvement over Php8 billion…
San Miguel net profit up 15% in H1
MANILA, Aug. 11 (PNA) — Philippine conglomerate San Miguel Corp. (SMC) grew its six-month profit by 15 percent despite lower revenues. In a statement, SMC said consolidated net income, excluding the effects…
Tetangco expects markets to factor in PHL macrofundamentals vis-à-vis assessment on currencies
By Joann Santiago MANILA, Aug. 11 (PNA) — The Philippines’ improved macrofundamentals are seen to be likely considered by markets on their assessment of the local currency’s position against other units. This,…
Value hotel to open newest branch in Makati
MANILA, Aug. 11 (PNA) — Value hotel Red Planet Hotel has announced that it will be opening its newest location in the Philippines on Wednesday in Makati. Red Planet Amorsolo located in…
LTFRB gives Uber until Aug. 20 to secure franchise under new transport category
MANILA, Aug. 11 (PNA) — The Land Transportation Franchising and Regulatory Board (LTFRB) said on Tuesday it is giving ride-sharing service Uber until Aug. 20 to secure a franchise under a new…
ERC studying possible removal of price threshold mechanism in power trading
By Juzel L. Danganan MANILA, August 11 (PNA) –The Energy Regulatory Commission (ERC)is studying new measures for the power market , which might remove the price threshold mechanism at the Wholesale Electricity…
Phl growth story not fabricated – Coloma
By Joann Santiago MANILA, Aug 10 (PNA) — The Philippines’ growth story is real and is not a crafted story, a Palace official said Monday. “Hindi lamang pamahalaan kundi pati mga pandaigdigang…
Chemical firm SBS embarks on expansion to surpass PhP 1-B sales
By Leslie D. Venzon MANILA, Aug. 10 (PNA) — Newly-listed chemical trader and distributor SBS Philippines Corp. is embarking on an aggressive expansion program to achieve double-digit growth and surpass PhP 1-billion…
Holcim to spend over Php1.8B to expand cement factory output
By Leslie D. Venzon MANILA, Aug. 10 (PNA) — Cement manufacturer Holcim Philippines Inc. is investing up to USD 40 million (over Php1.8 billion) to expand its production capacity from eight million…
Smart Communications to get 25 years extended franchise
MANILA, Aug. 9 (PNA) — The House Committee on Legislative Franchises has approved for plenary approval a measure extending for 25 years the franchise of the Smart Communications Inc. (SMART) which will…
SPI coal-fired power plant maintenance shutdown on-track
MANILA, August 8 (PNA) – Mindanao-based Steag State Power Inc. (SPI) said the maintenance shutdown of its second 105-megawatt (MW) unit is on-track and is still targeted to be online by August…
Philex Petroleum may invest in near operational oil and gas prospects
By Juzel L. Danganan MANILA, August 9 (PNA) – Philex Petroleum Corporation chairman Manuel Pangilinan said the firm might invest in near operational oil and gas prospects. ”We’re prepared to go for…
Easier payment terms push growth for low-cost housing developers
MANILA, Aug. 8 (PNA) — Favorable trends in the local market such as easy payment terms and low interest rate support the growth of low-cost housing developers, Chamber of Real Estate and…
Support for low-cost housing developers urged to cut 5.5-M backlog
MANILA, Aug. 8 (PNA) — Low-cost housing developers can help in resolving the 5.5 million housing backlog in the country, Chamber of Real Estate and Builders’ Associations (CREBA) Vice Chair Florentino S….