29 C
Makati City
Monday, June 5, 2017
SM Prime Holdings Inc., the shopping-mall operator and the property-development firm of the Sy family, becomes the first Philippine company to reach P1 trillion in market capitalization on Monday on the back of favorable market outlook. “SM Prime acknowledges the investment community’s unwavering support. This is a great moment for us to...
DMCI Holding Inc., a firm known for its construction projects in the country, said it has 1 billion tons of limestone reserve on Semirara Island, enough to support its cement-manufacturing plant for the next 500 years. DMCI Chairman and President Isidro Consunji said the limestone reserve is not an issue...
AFTER three consecutive weeks of oil-price increases, oil firms on Monday announced a price cut of petroleum products starting on Tuesday. In separate advisories, they said they will decrease the prices of diesel by P0.90 per liter, gasoline by P0.55 per liter and kerosene by P0.90 per liter. Pilipinas Shell, Phoenix Petroleum and Eastern...
PHNOM PENH, Cambodia—Cambodia’s opposition claimed a strong showing in local elections last Sunday that could shake Prime Minister Hun Sen’s longtime grip on power. Hun Sen has repeatedly warned of civil war if his Cambodian People’s Party loses the majority in city and village councils to the main opposition party,...
Asia is set to become one of the last places on Earth where you can encounter an increasingly endangered species—human currency traders. By 2025, foreign-exchange dealing in G-10 currencies—which account for the overwhelming majority of the $5.1-trillion-a-day market—will become fully electronic, predicts David Mercer, CEO of LMAX Exchange, an electronic...
ALSONS Consolidated Resources Inc. (ACR) of the Alcantara group is selling its 50-percent interest in Alsons Thermal Energy Corp. (Atec) to Global Business Power Corp. (GBPC). Atec is the holding company for ACR’s baseload coal-fired power plant assets. GBPC is the leading power producer in the Visayas and is chaired by...
WITH squinted eyes and lips pursed downward, businessman Ramon S. Ang shook his head, when asked if he was still interested in buying into GMA Network Inc. This might mean the president of San Miguel Corp. (SMC), in his personal capacity, is no longer keen on acquiring a significant...
PASSENGERS of the Mactan Cebu International Airport (MCIA) may now book for an Uber ride to and from the air hub, GMR-Megawide Cebu Airport Corp. (GMCAC) and Uber announced on Monday. The partnership allows passengers traveling to and from Cebu to secure a ride with ease through the Uber app. “Our partnership with Uber Philippines is...
The government plan to replace the existing four-bracket excise tax on automobiles with a five-tier structure imposing higher rates on the pricier luxury-car segment should not prevent the industry from sustaining the growth momentum, the Department of Finance said. According to Finance Undersecretary Karl Kendrick T. Chua, in countries such...
The Insurance Commission (IC) has given preneed firm Provident Plans International Corp. (Provident Plans) only up to the middle of the month to come up with a white knight, or it will be placed under conservatorship. The warning, the regulator said, was necessary to protect the interests of its 38,000...
Even after his death four decades ago, Bruce Lee’s philosophy still has a great impact not only in martial arts, but also in our financial lives. He was an actor, martial arts guru, philosopher, film director and screenwriter. UFC founder Dana White  believed in Bruce’s principle of having no...
INTEREST in rehabilitating and expanding the Metro Rail Transit Line 3 (MRT 3) has not waned in the slightest, and has, in fact, increased, as two of the country’s largest conglomerates are willing to pursue overhaul programs aimed at improving and augmenting the services and capacity of the railway facility.  Metro...
THE country’s dairy production in the first quarter of 2017 expanded by 11 percent to 5,730 metric tons (MT), from 5,160 MT recorded a year ago, according to the National Dairy Administration (NDA). In its report, titled “The Performance of the Philippine Dairy Sector”, the NDA, an attached agency of the...
FAVORABLE planting conditions allowed farmers to increase their production of major industrial crops, such as sugarcane and rubber, in the first quarter of the year, according to the latest report of the Philippine Statistics Authority (PSA). In its report, titled “Major Non-Food and Industrial Crops Quarterly Bulletin”, the PSA said sugarcane...
By Antonio V. Figueroa RECOGNIZED as the second-ranked Philippine agriculture exports sector, the banana industry has largely been an underrated segment. Contributing $1.14 billion to the world banana trade in 2014, the local industry, particularly the fresh banana sector, is also the world’s fifth-largest exporter of bananas. By classification, the industry is...
I have been discussing the above subject in a few columns in the last few months. I am glad I am not alone in this endeavor. Look at headlines that have appeared in recent weeks: US chicken industry deploys wet wipes, oregano sans antibiotics; Antibiotic-free meat gains US foothold...
IT is happening in small increments but the Bangko Sentral ng Pilipinas (BSP) should soon begin bilateral discussions with its Indonesian counterpart on the entry of banks and financial institutions in each other’s jurisdiction. This was as marked by the signing of a letter of intent (LOI) between Manila and...
THE revised tax-reform package could lead to a sovereign credit upgrade from at least one of the major rating agencies, as revenues are boosted and critical projects and programs are pursued, an international financial institution said. Analysts at Credit Suisse said the tax-reform agenda that has just been approved at the...
PETROENERGY Resources Corp. (PERC) is setting aside P6.7 billion to finance four new power projects. The listed firm said in a report to the stock exchange it “plans to develop four new projects over two years with a total estimated cost of P6.7 billion”. Of the amount, P855 million will be used...
SMART Communications Inc. claimed last Sunday it posted the highest-average download speeds for both 3G and LTE in May, citing a report from JP Morgan’s Asia Network Quality. The study, which cited crowd-sourced data gathered by wireless coverage research firm OpenSignal, showed Smart’s LTE service was the fastest in the country, with average-download speeds of 11.64...
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