By Juzel L. Danganan LAOAG, Ilocos Norte, Feb 12 (PNA) — Energy Development Corporation (EDC) may likely supply 154 Megawatts (MW) of capacity for the summer months, with its two Burgos Power…
Category: Business & Economy
PHL fundamentals to stand out anew in case of extreme volatility in global economy
By Joann Santiago MANILA, Feb. 12 (PNA) — Continued improvement of Philippines’ fundamentals are expected to make the country stand out anew once the possible volatility in the global financial market materializes…
BSP cuts ’14, ’15 inflation forecasts
By Joann Santiago MANILA, Feb. 12 (PNA) — Combined effects of drop in the international oil prices, stronger peso, and lower–than-expected global economic output made Philippine monetary officials cut their inflation projections…
Phoenix Petroleum’s revenues down 20 percent to Php 34.7 M
By Juzel L. Danganan LAOAG, Ilocos Norte, Feb. 12 (PNA) –Revenues of Phoenix Petroleum Philippines fell to Php 34.7 billion in 2014, down 20 percent from Php 43.55 million the previous year,…
Davao Suntrust eyes P2B condo sales in 2015
By Lovely A. Carillo DAVAO CITY, Feb. 12 (PNA) — Suntrust Properties, Inc., a 100-percent-owned subsidiary of Megaworld, is eyeing at least P2 billion in the sales of its residential condominium One…
Y&R Phils posts record year with 80% in new business
MANILA, Feb. 12 (PNA) — Y&R Philippines Inc., one of the country’s leading integrated marketing communications (IMC) agencies, had a banner year in 2014 after posting a record 80 percent in new…
LandBank hits Php 1-trillion asset mark
By Joann Santiago MANILA, Feb. 11 (PNA) — The Land Bank of the Philippines capped 2014 on a high note with Php 1.051 trillion in assets, a hefty 25 percent increase from…
Security Bank gets BSP nod to buy all assets of acquired thrift bank
By Leslie D. Venzon MANILA, Feb. 11 (PNA) — The Bangko Sentral ng Pilipinas (BSP) has allowed Security Bank Corp. (SBC) to buy all the assets of Security Bank Savings Corp. (SBS)…
ERC approves Php 2.3-B NGCP Malita-Matanao transmission line project
By Juzel L. Danganan MANILA, Feb. 11 (PNA) — The Energy Regulatory Commission (ERC) has approved the National Grid Corp. of the Philippines’ (NGCP’s) Malita-Matanao transmission line project, which runs from Davao…
Electronics exports up 8% in 2014
MANILA, Feb 11 (PNA) — The Philippines’ electronics industry has ended 2014 with exports revenue increasing by 8.1 percent to USD25.88 billion from full-year 2013’s earnings of USD23.93 billion, data from the…
Globe’s mobile data business up by 23%
By Azer N. Parrocha MANILA, Feb 11 (PNA) — After reporting a double-digit growth in mobile browsing and data revenues, Globe Telecom (Globe) on Wednesday said that its mobile browsing and other…
Japanese auto parts supplier inaugurates Php1-B plant in Laguna
By Kris M. Crismundo MANILA, Feb. 10 (PNA) — Tokai Rika Co. Ltd., a Japanese manufacturer of automotive switches, has inaugurated its newest plant in Santa Rosa, Laguna on Tuesday. Through its…
Petron, Phoenix hike pump prices of gasoline by Php 2.40/ltr and Php 1.90/ltr on diesel
By Juzel L. Danganan MANILA, Feb. 10 (PNA) — Petron Corp. and Phoenix Petroleum Philippines increased the pump prices of gasoline by Php 2.40 per liter and Php 1.90 on diesel effective…
Meralco’s total billing charges to increase by 84 centavos/kWh this February
By Juzel L. Danganan MANILA, Feb 10 (PNA) — The Manila Electric Company (Meralco) will increase its total billing charges by 84 centavos per kilowatthour (kWh) this February. ”After three consecutive months…
Taiwanese firm eyes PHL as production base for consumer electronics
MANILA, Feb. 10 (PNA) — Taiwanese electronics firm New Kinpo eyes the Philippines as production base for consumer electronics after it will open its new facility here. New Kinpo will start the…