By Juzel L. Danganan MANILA, Aug. 27 (PNA) – Cosco Capital Inc has completed its USD 80 million payment to PR Gaz Inc, for the 90 percent stake of Liquigaz Philippines Corporation,…
Category: Business & Economy
RCBC confirms talks with Cathay Financial Holdings Co.
MANILA, Aug. 27 (PNA) — Yuchengco-led Rizal Commercial Banking Corporation (RCBC) on Wednesday confirmed a news report that it is in discussion with Taiwan’s largest financial group, Cathay Financial Holdings Co. According…
Peso, stocks up as investors turn more bullish on the low-interest rate regime
By Joann Santiago MANILA, Aug 26 (PNA) — Uncertainty on when the Federal Reserve will hike its key rates buoyed the Philippine peso and the local bourse Tuesday, a late start for…
Bacman Geothermal Project Unit 2 operational by October
By Juzel L. Danganan MANILA, Aug. 26 (PNA) — Energy Development Corporation’s (EDC) Bacman Unit 2 is projected to be fully operational by October 2014, after its “permanent fix” due to the…
City council approves hike in real properties by 30%
ILOILO CITY, Aug. 26 (PNA) –- The city council here had approved en toto on Tuesday the proposed increase in the assessment levels of real properties slated to take effect starting January…
BOC to auction Php 300-M worth of white and glutinous rice
MANILA, Aug. 25 (PNA) — The Bureau of Customs (BOC) has announced it will be holding a public auction through sealed bidding of white rice and glutinous rice worth more than Php…
Smart, Sun postpaid subscribers up by 17% to 2.6-M in H1
MANILA, Aug. 25 (PNA) — Subscribers of PLDT wireless brands Smart Communications and Sun Cellular on Monday reported a 17 percent increase in its postpaid subscribers to 2.6 million for the first…
Cebu City gets low interest offer for P2.9B remaining balance for SRP loan
CEBU CITY, Aug. 23 (PNA) — The Land Bank of the Philippines (LBP) has offered the Cebu City Government an interest rate of 4.5 percent for a new loan the city plans…
ILO’s P7.375M livelihood project to benefit four Leyte towns
By Perla G. Lena TACLOBAN CITY, Aug 24 (PNA) — Some 700 workers from four towns of Leyte are slated to benefit from the sustainable livelihoods though contour farming supported by the…
BSP: PHL has buffers vs. possible tightening in financial conditions vis-à-vis Fed rate hike
By Joann Santiago MANILA, Aug. 24 (PNA) — The high liquidity situation in the Philippines will partly help the domestic financial market from the impact of any possible tightening in financial conditions…
PSEi ends week up, peso sideways
MANILA, Aug. 22 (PNA) — The Philippine Stock Exchange index (PSEi) ended the week with gains and the peso was almost unchanged amid the wait-and-see stance of investors vis-à-vis the Jackson Hole…
BSP bans issuance of pre-approved credit cards
MANILA, Aug 22 (PNA) — The Bangko Sentral ng Pilipinas (BSP) has put a lid on the issuance of pre-approved credit cards. In a Circular, the central bank defines pre-approved credit cards…
Solon wants exemption for individual taxpayers raised to Php100,000
MANILA, Aug. 23 (PNA) — A neophyte lawmaker is seeking to increase the personal exemption for individual taxpayers to Php100,000 from the present Php50,000 so that the government can reduce the burden…
MyPhone maker creates new holding firm
MANILA, Aug 22 (PNA) — The manufacturer of local mobile phone brand MyPhone, Solid Group, Inc., will incorporate a new holding firm that will invest for the future businesses of the company….
Cebu Capitol’s net worth rises to P27.9B in May
CEBU CITY, Aug. 22 (PNA) — The Cebu Provincial Government’s net worth increased to P27.924 billion as of May 31, or about P1 billion compared to the P26.919 billion in the same…