By Juzel L. Danganan MANILA, Jan 7 (PNA) – Trans-Asia Petroleum Corporation said the Department of Energy (DOE) approved the extension of exploration Sub-Phase 3 on Service Contract 69 until May 7,…
Category: Business & Economy
PSEi hits one-month high on rosier economic outlook
By Leslie D. Venzon MANILA, Jan. 7 (PNA) –- The local stock market surged to a one-month high above 7,300 points on Wednesday, bolstered by rosier outlook for the Philippine economy. The…
Economic managers see 6-7% growth for PHL in ‘14
By Joan Santiago MANILA, Jan. 7 (PNA) — Economic managers expect between six and seven percent growth of the Philippine economy in 2014, lower than the 6.5-7.5 target, due to below-target spending…
Aboitiz Power to contribute 177 MW for ILP in summer months
By Juzel L. Danganan MANILA, Jan. 6 (PNA) -– Aboitiz Power Corporation will contribute 177 Megawatts (MWs) for the Interruptible Load Program (ILP) coming from its contestable customers and distribution utilities. ”Through…
PLDT, Rocket announce joint venture for mobile payment solutions
MANILA, Jan. 6 (PNA) — Telco giant Philippine Long Distance Telephone Company (PLDT) and top internet platform Rocket Internet AG on Tuesday announced agreement to establish a joint venture for payment services…
Gov’t addressing potential risks to inflation for 2015 — NEDA
By Leslie D. Venzon MANILA, Jan. 6 (PNA) — The government is addressing potential risks to inflation this year, such as the lingering possibility of El Nino occurrence, the impacts of typhoons…
Fitch Ratings gives PHL’s proposed 25-year global bond ‘BBB’ rating
By Joan Santiago MANILA, Jan. 6 (PNA) — Fitch Ratings has given a ‘BBB-’ rating on the Philippines’ planned US dollar-denominated global bond due 2040. In a statement, the ratings agency said…
Maibarara Geothermal to install 10 MWs more into Batangas plant
By Juzel L. Danganan MANILA, Dec 15 (PNA) — Sto. Tomas, Batangas based Maibarara Geothermal Project plans to increase its capacity to 30 Megawatts (MWs), from its initial service contract application of…
DoubleDragon unveils construction of first CityMall in Roxas City
MANILA, Dec. 15 (PNA) — Listed DoubleDragon Properties Corp. on Monday unveiled the construction of its first ever CityMall in a 1.2-hectare prime property located in Roxas City, Capiz. In a disclosure…
Trans-Asia completes commissioning of 27 wind towers for San Lorenzo Wind Farm Project
MANILA, Dec 15 (PNA) — Trans-Asia Renewable Energy Corporation (TAREC) has fully commissioned its 27 wind towers for the San Lorenzo Wind Farm Project, according to a disclosure with the Philippine Stock…
Stocks snap losing streak on credit rating upgrade
By Leslie D. Venzon MANILA, Dec. 12 (PNA) –- The local stock market rallied on Friday, ending its five-day slump, a day after the Philippines received credit rating from Moody’s Investors Service….
Smart offers iPad Air 2, iPad mini 3 in PHL
By Azer N. Parrocha MANILA, Dec. 12 (PNA) — Telco giant Smart Communications, Inc. (Smart) on Friday announced that it will be offering iPad Air 2 with Wi-Fi + Cellular and iPad…
Max’s Group embarks on aggressive expansion binge in PHL, overseas
By Leslie D. Venzon MANILA, Dec. 12 (PNA) — Listed Max Group Inc., the country’s largest casual dining restaurant chain, will put up at least 77 new stores across all brands in…
Premier Horizon acquiring majority stake in cooling solution provider
By Leslie D. Venzon MANILA, Dec. 12 (PNA) — Listed Premiere Horizon Alliance Corp. (PHA) has agreed to pay Php80 million to increase its ownership of Concepts Unplugged Business Environment Solutions, Inc….
Nido Petroleum offers USD 108 million for 33 percent interest stake of Galoc field
By Leslie D. Venzon MANILA, Dec. 12 (PNA) – Nido Petroleum has offered USD 108 million cash for Otto Energy’s 33 percent working interest in the Galoc oil field in Northwest Palawan…