Business

Roxas Holdings' income up 18% to P120-M

Roxas Holdings' income up 18% to P120-M

December 7, 2017, 7:30 pm

MANILA -- Listed sugar and ethanol producer Roxas Holdings, Inc. (RHI) posted a consolidated net income of PHP120 million for the year ending Sept. 30, up 18 percent from PHP102 million in the same period last year.RHI told the local bourse its core net income also increased by 135 percent to… Read More

Nomura tags PH as one of three 'new rising stars'

Nomura tags PH as one of three 'new rising stars'

December 7, 2017, 7:16 pm

MANILA -- A research study by Japanese financial company Nomura tagged the Philippines, India, and Indonesia as Asia’s “new rising stars” as these are seen to boost the region’s potential growth by at least  eight percent in 2018.The Philippines, for one, is projected to grow, as measured… Read More

Manila Water bags Leyte project

Manila Water bags Leyte project

December 7, 2017, 7:11 pm

MANILA -- Ayala-led Manila Water Company Inc. won a contract to develop the water supply system in Leyte province.In a disclosure with the Philippine Stocks Exchange, Manila Water said it received the notice of award from the Leyte Metropolitan Water District (LMWD) on Wednesday.It said the… Read More

Coca-Cola to buy more local sugar

Coca-Cola to buy more local sugar

December 7, 2017, 6:28 pm

MANILA – Beverage firm Coca-Cola FEMSA Philippines (KOF) plans to buy more sugar from local sources for its beverage manufacturing activities next year. The company said Thursday it bought  two million bags of local sugar this year, up more than 80 percent from 1.1 million bags in 2016. "The… Read More

Gov't allots P1-B microloan for MSMEs in 2018

Gov't allots P1-B microloan for MSMEs in 2018

December 7, 2017, 3:58 pm

MANILA -- The Duterte administration has allocated PHP1 billion for next year's Pondo sa Pagbabago at Pag-asenso, or P3 microloan program for micro, small, and medium enterprises (MSMEs). In a statement Thursday, DTI Undersecretary Zenaida Maglaya said President Rodrigo Duterte kept his… Read More

Domestic trade volume up double digit in Q3 '17 

Domestic trade volume up double digit in Q3 '17 

December 7, 2017, 2:07 pm

MANILA -- Quantity of goods traded in the domestic market in July to September period has increased by double digit this year compared to the same period in 2016. Philippine Statistics Authority (PSA) data released Thursday showed that volume of domestic trade in third quarter of the year grew… Read More

AboitizPower to add 500 MW capacity in 2018

AboitizPower to add 500 MW capacity in 2018

December 7, 2017, 1:16 pm

MANILA -- AboitizPower Corporation is set to add some 500 megawatts of attributable capacity in 2018, coming from the completion of several hydro and baseload plants in Luzon, Visayas, and Mindanao. In a briefing to analysts last Tuesday, AboitizPower President and COO Antonio R. Moraza said the… Read More

Former AboitizPower exec is new LRT-1 operator President/CEO

Former AboitizPower exec is new LRT-1 operator President/CEO

December 7, 2017, 10:23 am

MANILA -- The operator of the Light Rail Transit Line 1 (LRT-1), Light Rail Manila Corporation (LRMC), has appointed Juan Alfonso as its new President and Chief Executive Officer. Alfonso, who previously served as the Chief Operating Officer of AboitizPower Corp. subsidiary Aseagas Corporation,… Read More

BSP chief likens economy to a race car; discounts over-heating

BSP chief likens economy to a race car; discounts over-heating

December 6, 2017, 8:38 pm

MANILA - -The  total picture of the economy , whether its overheating or not,  cannot be discerned  only through credit growth. This was stressed by Bangko Sentral ng Pilipinas (BSP) Governor Nestor  Espenilla Jr. on Wednesday following rising concerns that the Philippine economy is starting… Read More

JFC urges Congress to pass legislation resolving traffic jam

JFC urges Congress to pass legislation resolving traffic jam

December 6, 2017, 8:07 pm

MANILA – The Joint Foreign Chamber (JFC) in the Philippines on Wednesday urged Congress to complete legislation procedures that would resolve traffic and congestion crisis in the country. "We urge Congress to complete its legislative procedures and approve the legislation on second and third… Read More

Cebu Landmasters inks deal with Ascott

Cebu Landmasters inks deal with Ascott

December 6, 2017, 7:40 pm

MANILA -- Newly-listed property developer Cebu Landmasters Inc. (CLI) has teamed up anew with The Ascott Ltd. for the serviced residence of a mixed-use development project in Cebu City to meet growing demands from the tourism industry.CLI signed Wednesday its management agreement with Ascott for… Read More

High coal tax risking manufacturing growth goal

High coal tax risking manufacturing growth goal

December 6, 2017, 7:21 pm

MANILA -- Department of Trade and Industry (DTI) Secretary Ramon Lopez said it would be more challenging for the local manufacturing sector to achieve more than 10 percent growth target in the next few years as higher excise tax on coal looms. Lopez told reporters that if the Senate's version of… Read More

Del Monte posts USD2.8-M net loss

Del Monte posts USD2.8-M net loss

December 6, 2017, 6:45 pm

MANILA -- Food and beverage conglomerate Del Monte Pacific Limited (DMPL) booked a net loss of USD2.8 million in the second quarter ending October 2017, reversing its USD20 million profit last year, as it rationalized plants and invested in brand building.DMPL, listed in both the Singapore and… Read More

Real estate market ‘rosier’ in 2018

Real estate market ‘rosier’ in 2018

December 6, 2017, 6:16 pm

MANILA -- A real estate service provider sees a rosier property market in Metro Manila by 2018, saying outlook on office, retail, residential, and industrial sectors remains high as these continue to expand.Santos Knight Frank Chairman and Chief Executive Officer Rick Santos said outlook on Metro… Read More

Guimaras starts prep for nat’l Mango Congress 2018

Guimaras starts prep for nat’l Mango Congress 2018

December 6, 2017, 5:41 pm

ILOILO CITY -- Next year’s gathering of stakeholders looked forward to address concerns affecting the country’s mango industry. Guimaras would host the 20th National Mango Congress and discussions on how to run the event have already started, said Ronie Morante, provincial agriculturist of… Read More

Banks bid more on 7-day TDF

Banks bid more on 7-day TDF

December 6, 2017, 5:26 pm

MANILA - - Banks on Wednesday submitted higher bids on the Bangko Sentral ng Pilipinas’ (BSP) seven-day Term Deposit Facility (TDF) but tenders remained muted for the 28-day facility.BSP data showed that tenders for the shorter-dated facility totaled to PHP41.269 billion, slightly higher than… Read More

Tax perks to counter headwinds in IT-BPO sector: industry group

Tax perks to counter headwinds in IT-BPO sector: industry group

December 6, 2017, 1:57 pm

MANILA -- The Information Technology-Business Process Association of the Philippines (IBPAP) bats for the retention of incentives for the IT-business process management (IT-BPM) sector to counter headwinds faced by the industry. In a statement, IBPAP president and chief executive officer Rey… Read More

Factory gate prices up slightly in October

Factory gate prices up slightly in October

December 6, 2017, 10:52 am

MANILA -- Factory gate prices expanded slightly at 0.3 percent in October, reversing the previous year’s negative growth of 4.8 percent, the Philippine Statistics Authority (PSA) reported Tuesday. The PSA attributed the slight upturn for producer price Index (PPI) for manufacturing to the… Read More

Construction projects up 1.1% in Q3 2017

Construction projects up 1.1% in Q3 2017

December 5, 2017, 9:35 pm

MANILA – Approved building permits from July to September 2017 increased by 1.1 percent to 36,076 from 35,684 in the same period in 2016, data released by the Philippine Statistics Authority (PSA) on Tuesday showed. Although the number of construction projects increased, its value fell by 6.5… Read More

Lopez to cut trade deficit during Duterte admin

Lopez to cut trade deficit during Duterte admin

December 5, 2017, 9:15 pm

MANILA -- Department of Trade and Industry (DTI) Secretary Ramon Lopez said the government aims to further lower the country's trade deficit during the Duterte administration, and to make balance of trade favorable to the country in the coming years. On the sidelines of the National Export… Read More