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Category: Business & Economy

Sucat Thermal Power Plant attracts 10 bidders

Posted on December 1, 2015

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…

Ayala power unit scraps Php 3.3-B solar project in Davao del Sur

Posted on November 27, 2015

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

Posted on November 27, 2015

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

Posted on November 27, 2015

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

Posted on November 25, 2015

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

Posted on November 25, 2015

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

Posted on November 25, 2015

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

Posted on November 25, 2015

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

Posted on November 25, 2015

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%

Posted on November 25, 2015

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

Posted on November 24, 2015

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

Posted on November 24, 2015

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

Posted on November 24, 2015

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

Posted on November 24, 2015

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

Posted on November 24, 2015

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…

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  • BSP keeps policy rates anew December 17, 2015
  • NEDA cuts PHL additional rice import for 2016 by 25% December 17, 2015
  • DA cites serious implications of banning genetically modified products December 17, 2015
  • BBL is not yet dead – Drilon December 17, 2015
  • Comelec recognizes Duterte’s CoC for president December 17, 2015
  • NEDA chief sees 2015 growth at 6% despite typhoons December 17, 2015
  • House of Representatives ratifies bicam report on P3.002-T national budget for 2016 December 17, 2015
  • Cebu-based developer invests PHP430M to build 709 townhouse units in north Cebu town December 17, 2015
  • City gov’t eyes P75-M income from economic enterprise December 17, 2015
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  • Asbestos use in construction a labor hazard
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