Business
Alsons mulls over future of property unit
Alcantara-led Alsons Consolidated Resources Inc. (ACR) said it is still exploring the best option for letting go of its property business.
NG subsidies to state-run firms jump to nearly P170B
The national government’s subsidies to state-run corporations jumped more than 6-fold to nearly P170 billion for the first half of the year from the same period last year, the latest data from the Bureau of the Treasury showed.
‘Wild swings in stock market to persist until end of 2020’
Stock broker COL Financial Group Inc. expects the main index to end 2020 at 6,300 points as the market is expected to have wild swings throughout the rest of the year, while recovery will not be felt until 2021.
‘PHL must fortify health system via higher budget’
The Philippines should increase its spending on health care to cope in a post-Covid-19 world, according to a director of the Philippine College of Surgeons.
Jollibee to survive Covid-19, post profit next year–exec
Local fast-food giant Jollibee Foods Corp. (JFC) said its financial recovery may happen starting next year and may return to the levels seen before the Covid-19 pandemic, which paralyzed its operations all over the world.
DENR issues ECC to Ming-Mori Project of Minglanilla, CLI unit
THE Ming-Mori Minglanilla Reclamation Project covering 100 hectares easily accessible to Cebu City was issued an Environmental Compliance Certificate (ECC) by the Department of Environment and Natural Resources on July 22 following a comprehensive two-year review.
SMC’s food, beverage business recovering well as govt rebuilds better amid Covid
SAN Miguel Corp.’s (SMC) food and beverage businesses have started to recover due largely to government efforts to reopen and boost the economy, the diversified conglomerate reported on Friday.
Overseas projects, engineering outsourcing seen as future of PHL construction industry
Overseas projects and engineering service outsourcing (ESO) can be the future drivers of the Philippine construction industry, according to local industry experts from the government and private sector.
Japan’s export slump drags on even as markets reopen
Japanese exports fell by more than 20 percent for a third straight month even as key markets started to reopen from virus shutdowns.
MVP hospitals to expand Covid-19 bed capacities
BUSINESSMAN Manuel V. Pangilinan has agreed to expand the Covid-19 beds in hospitals under the MVP Group to help the government address the lack of health-care facilities for Covid-19 treatment, the Department of Health (DOH) said on Friday.
Security Bank raises P13.5 billion from bond issuance, closes offer period early
SECURITY Bank has issued fixed-rate bonds amounting to P13.5 billion. This final issue size, the bank said on Friday, represents a significant upsize from the initial issue size of P5 billion given strong investor demand, which prompted SECB to close the offer period for the bonds early.
After Brisbane and Toronto, Qatar Airways launches flights to Cebu
CEBU joins Brisbane and Toronto as new destinations launched by Qatar Airways, the airline has announced, touting its resilience during the crisis.
Tuna players opt for virtual, drop face-to-face meet in September
GENERAL SANTOS CITY—Tuna industry players here will launch a series of bi-monthly virtual fora to highlight their situation and efforts to address various concerns amid the Covid-19 pandemic.
Ayala unit announces offer price for first REIT in PHL
AREIT Inc., the pioneering real-estate investment trust (REIT) in the country sponsored by Ayala Land Inc., has priced its initial public offering at P27 per share, or at the midrange of its pricing.
SM workers undergo tests for Covid-19
The SM group on Thursday said it has done repeated rounds of rapid testing and RT-PCR testing for their employees and agency workers, covering more than 140,000 individuals across its supermarkets, retail stores, malls, residential and property companies.
Tourism leads Subic Bay Freeport revival
Subic Bay Freeport—Tourism is breathing life back into this free port, as businesses make the painful transition to the “new normal” after a long hiatus since March, when the enhanced community quarantine (ECQ) was imposed in Luzon to stop the spread of Covid-19.
Association governance before, during, and after Covid-19
It’s been a while since I’ve written on association governance, the other half of PCAAE’s advocacy, which is association management. The last was on April 16, 2020, on “Association Leadership in a Pandemic,” which chronicled what the Board and management of associations around the world have done to help members and the communities they serve meet the challenges of the Covid-19 pandemic.
Microfinancing loans seen to increase amid lockdown
Microfinance loans, which are seen to get a boost from the recent cut on reserve requirement ratio (RRR), may continue to pick up this year as many enterprises seek funding for capital requirements.
ACR ‘cautiously optimistic’ on performance this year
Alcantara-led Alsons Consolidated Resources Inc. (ACR) is optimistic that its business will perform better this year, mainly due to the full operation of its coal power plant, which has been the company’s key revenue and income driver since last year.
Govt cuts common towers permit process
Various government agencies have signed a joint memorandum circular that will streamline requirements and reduce procedural delays in securing permits, licenses, clearances, certificates, and other requirements for common towers.
AC Energy, Axia Power ink deal for Rizal plant
AC Energy Philippines Inc. (ACEPH) signed a shareholders’ deal that paves the way for the development of a 150-megawatt (MW) diesel power plant in Pililla, Rizal.
BDO Leasing sells assets for additional liquidity
BDO Leasing and Finance Inc. reported the sale of its loan receivables and investments in securities for additional liquidity.
Villar Group launches own telco unit
The Villar Group has launched its own telecommunications company through Prime Asset Ventures Inc. (PAVI), a company led by Manuel Paolo A. Villar, as it takes over the operations of an existing player.
‘2 firms keen on PSALM properties’
Two power firms have expressed interest to bid for the real-estate properties of the Power Sector Assets and Liabilities Management Corp. (PSALM).
SSS benefits accessible via PayMaya
Financial technology player PayMaya has enabled members of the Social Security System (SSS) to receive their claim proceeds through their PayMaya e-wallets.
Standard Chartered Bank donates anew to hospitals
The fight against Covid-19 is far from over as the country’s cases are projected to surge to more than 80,000 by end of July, Standard Chartered Bank (SCB) said.