By Juzel L. Danganan MANILA, Dec 1 (PNA) – Two foreign firms are keen on acquiring the decommissioned 850-megawatt (MW) Sucat Thermal Power Plant, according to state-owned Power Sector Assets and Liabilities…
Category: Business & Economy
Ayala power unit scraps Php 3.3-B solar project in Davao del Sur
By Juzel L. Danganan MANILA, Nov. 27 (PNA) – AC Energy Holdings, Inc., the power unit of Ayala Corp., has scrapped plans to put up a solar project in Sta. Cruz, Davao…
Globe sustains growth of prepaid business with co-branding partnership, better offers
MANILA, Nov. 27 (PNA) — Globe Telecom is looking to sustain growth momentum of its prepaid business after several quarters of strong performance with a co-branding partnership with leading mobile phone manufacturer…
SM Seaside City Cebu opens
CEBU CITY, Nov. 27 (PNA) — SM Prime Holdings Inc. (SMPH), the Philippines’ leading shopping mall developer, on Friday opened SM Seaside City Cebu at the 300-hectare South Road Properties in Cebu…
Security Bank to sell stake in property unit for Php1.6 B
By Leslie D. Venzon MANILA, Nov. 25 (PNA) — Security Bank Corp. (SBC) will sell its 51.81-percent stake in real estate unit, Security Land Corp. (SLC), for Php1.6 billion, in a bid…
PHL September import growth among highest in Southeast Asia
By Leslie D. Venzon MANILA, Nov. 25 (PNA) — Imports grew for a fourth consecutive month last September on higher purchases of raw materials and intermediate goods, capital and consumer goods, making…
PHL economy likely grew 6.2% in Q3; to expand 6.8% in Q4 — FMIC & UA&P
By Leslie D. Venzon MANILA, Nov. 25 (PNA) — The Philippine economy is forecast to sustain its strong pace of growth in the second half of 2015 on the back of higher…
PHL stocks extend rally
MANILA, Nov. 25 (PNA) — The Philippine equities market returned to the 7,000-level on Wednesday ahead of the release of the official third-quarter gross domestic product (GDP) figure. The barometer stock index…
Rizal Microbank eyes PhP1-M net income in 2016
MANILA, Nov. 25 (PNA) — Rizal Microbank is all eyes on Mindanao, which it considers as the key to be able to register its first net income of about PhP1 million in…
Electronics imports up by 33%
MANILA, Nov 25 (PNA) — Inbound shipment of electronic goods in the first nine months of the year increased by 33.2 percent to USD14.61 billion from the same period last year at…
Opening up economies would benefit everyone – APEC
MANILA, Nov. 24 (PNA) — When the Asia-Pacific Economic Cooperation (APEC) was established 26 years ago, its foundation was laid with the vision of a region free from protectionism. In economics, protectionism…
PSEi retreats anew
MANILA, Nov. 24 (PNA) — The local stock market snapped a three-day gain on Tuesday, tracking overseas developments. The barometer Philippine Stock Exchange index (PSEi) lost slightly 3.59 points to 6,992.60 from…
PHL posts USD 469M BOP surplus in October ’15
By Joann Santiago MANILA, Nov. 24 (PNA) — The Philippines continue to post surplus in its balance of payment (BOP) position with the October 2015 level at USD 469 million, higher than…
Avida Land eyes over Php7-B sales from new BGC residential project
MANILA, Nov. 24 (PNA) — Avida Land, a subsidiary of property giant Ayala Land, Inc., expects over Php7 billion in sales from two-tower condominium project, Avida Towers Turf BGC, its eighth project…
Moody’s changes outlook on PHL banks from positive to stable
By Joann S. Villanueva MANILA, Nov. 24 (PNA) — Moody’s Investors Service remain optimistic on the Philippines’ banking system but lowered its outlook from positive to stable on projected slight decline on…