MANILA, July 21 (PNA) — Retail market participants registered at the Wholesale Electricity Spot Market (WESM) have grown to 428 from 240 last year driven by the surge of contestable customers (CCs),…
Category: Business & Economy
Meralco to penetrate RE generation
By Juzel L. Danganan MANILA, July 21 (PNA) — The Manila Electric Company (Meralco) will penetrate the renewable energy industry soon, through a new subsidiary, which will seek renewable energy (RE) prospects…
BDO completes One Network Bank acquisition
MANILA, July 21 (PNA) — Sy-led Banco de Oro Unibank Inc. (BDO) has completed the acquisition of Davao City-based One Network Bank Inc. (ONB). In a disclosure with the Philippine Stock Exchange…
Exporters group welcomes President Aquino’s newly signed laws
By Kris M. Crismundo MANILA, July 21 (PNA) — The Philippine Exporters Confederation Inc. (Philexport) has welcomed two new economic reforms after President Benigno S. Aquino III signed on Tuesday the Philippine…
Globe to acquire entire Bayantel stake for Php1.83-B
MANILA, July 21 (PNA) — Telecommunications giant Globe Telecom, Inc. (Globe) on Tuesday announced it is acquiring the entire stake of Bayan Telecommunications, Inc. (Bayantel) for approximately Php1.83-billion. “Globe has agreed to…
Megaworld spending Php20-B for 12 office towers in Fort Bonifacio; 10 towers near completion
By Leslie D. Venzon MANILA, July 21 (PNA) — Property developer Megaworld Corp. is spending Php20 billion to complete 12 new office buildings in Fort Bonifacio over the next three years that…
Phoenix Petroleum gains consolidated net income of Php425-M in H1 ’15
MANILA, July 21 (PNA) -– Phoenix Petroleum Philippines has gained a consolidated net income of Php425 million for the first half (H1) of 2015. In a disclosure from the Philippine Stock Exchange…
Agreement to implement single-ticketing system for Muntinlupa-Cavite Expressway, SLEX signed
By Leslie D. Venzon MANILA, July 21 (PNA) — Conglomerate Ayala Corp. (AC) and operators of toll roads located in south of Manila on Tuesday signed an agreement to implement a single-ticketing…
PHL posts USD 485M BOP surplus in June ’15
By Joann Santiago MANILA, July 20 (PNA) — The Philippines posted a recovery in its balance of payments (BOP) position in June 2015 after it returned to a surplus. Data released by…
Peso continues sideways close vs. USD
By Joann Santiago MANILA, July 20 (PNA) — The Philippine peso ended Monday sideways to a greenback as investors continue to see unfolding events in Greece. The local currency finished the week’s…
PHL stocks retreat on lack of market-moving news
By Leslie D. Venzon MANILA, July 20 (PNA) — Philippine stocks snapped Monday a seven-day climb on lack of market-lifting news locally and overseas. The benchmark index declined 75.96 points to 7,541.17…
PAL expands presence to Papua New Guinea capital
By Azer N. Parrocha MANILA, July 20 (PNA) — Flag carrier Philippine Airlines (PAL) on Monday said that it is expanding its international services with the upcoming launch of regular services to…
Phoenix Semiconductor parent company gets US$ 116-M capital infusion
MANILA, July 20 (PNA) — The Korean parent company of listed Phoenix Semiconductor Philippines Corp. (PSPC) has secured over US$ 116 million in fresh capital from institutional investors that will be used…
Iloilo City tops Government Efficiency ranking
By Lydia C. Pendon ILOILO CITY, July 19 (PNA) -– The list of Top 10 Cities in the Philippines is headed by Iloilo City as recognized by the National Competitiveness Council (NCC)…
Robinsons Retail to invest up to Php4.5-B for 10 community malls
By Leslie D. Venzon MANILA, July 19 (PNA) — Gokongwei-led multi-format retailer Robinsons Retail Holdings Inc. (RRHI) plans to invest Php3 billion to Php4.5 billion to put up 10 more community malls…