By Joann Santiago MANILA, June 19 (PNA) — The Philippines posted a USD 58-million deficit in its balance of payment (BOP) position in May 2015 but central bank officials remain confident of…
Category: Business & Economy
PAL adding two Boeing 777-300ERs to fleet
By Azer N. Parrocha MANILA, June 19 (PNA) — Flag carrier Philippine Airlines (PAL) on Friday said it is set to acquire two more B777-300ERs to ramp up its long-haul operations. The…
Hedcor’s 14-MW Sabangan hydroelectric power plant starts commercial operations
MANILA, June 19 (PNA) – Hedcor, a wholly-owned subsidiary of Aboitiz Power Corp., has started the commercial operations of its 14-megawatt (MW) Sabangan hydroelectric power plant in Mountain Province. ”AboitizPower wholly-owned subsidiary…
Megaworld expanding leasing portfolio aggressively; targets 10% rise in core profit
By Leslie D. Venzon MANILA, June 19 (PNA) — Tycoon Andrew Tan-led property developer Megaworld Corp. is aggressively expanding its leasing portfolio to grow its rental income to Php 9 billion this…
First Gen Corporation acquires 29M preferred shares of Prime Terracota Holdings Corp
By Juzel L. Danganan MANILA, June 19 (PNA) – First Gen Corporation has acquired 29 million series B preferred shares of Prime Terracota Holdings Corp., owned by the Lopez Inc. Retirement Fund…
Therma Visayas secures Php 31.9-B loan for 300-MW coal-fired power plant
By Juzel L. Danganan MANILA, June 19 (PNA) – Therma Visayas Inc. has secured loans amounting to Php 31.9 billion granted by banks for the construction of the 300 Megawatt (MW) coal-fired…
PHL posts first budget surplus in ’15
By Joann Santiago MANILA, June 18 (PNA) — The Philippine government posted its first budget surplus in 2015 last April amounting to Php 52.6 billion, the Department of Finance (DOF) reported Thursday….
PAL expands Turkish Airlines’ codeshare deal
MANILA, June 18 (PNA) — Flights across the Istanbul-Manila-Cebu or Davao route can be expected now that the Philippine Airlines (PAL) has expanded its codeshare agreement with Turkish Airlines. Under the agreement,…
Aboitiz Power takes over construction of 45-MW Nalatang B hydro in Benguet
By Juzel L. Danganan MANILA, June 18 (PNA) – The Department of Energy (DOE) granted Aboitiz Power Corp. the registration certificate for the 45-megawatt (MW) Nalatang B hydroelectric project to be put…
PSBank secures ATM cards with Lock feature
MANILA, June 18 (PNA) — Philippine Savings Bank (PSBank), the thrift bank arm of Metrobank Group, recently introduced the Lock and Unlock facility for its ATM cards to provide clients with a…
Globe further intensifies Boracay network coverage and capacity
MANILA, June 18 (PNA) — Continuing the rollout of its modernized infrastructure and investments on new technologies in important locales around the country, Globe Telecom has reinforced its network strength in Boracay…
Travellers International sets Php8-B capex for 2015; bullish on expansion
MANILA, June 18 (PNA) — Listed Travellers International Hotel Group, Inc. (TIHGI) has earmarked Php8 billion for capital expenditures this year, mostly to finance the further expansion of Resorts World Manila (RWM)…
Harbor Star sees revenues surpassing Php 1.1-B mark on local, ASEAN expansion
By Leslie D. Venzon MANILA, June 17 (PNA) — Listed integrated maritime service provider Harbor Star Shipping Services Inc. expects its revenues in 2015 to surpass last year’s Php1.1 billion, as it…
Cebu Pacific Air buying 16 new planes
By Azer N. Parrocha MANILA, June 17 (PNA) — Low-cost carrier Cebu Pacific (CEB) has ordered 16 new planes from ATR, the European Turboprop aircraft manufacturer as part of its fleet renewal…
Industry urges developers to patronize local steels
By Kris M. Crismundo MANILA, June 17 (PNA) — The Steel Angles, Shapes and Sections Manufacturers Association of the Philippines, Inc. (SASSMAPI) has urged property developers in the country to patronize locally…