The quality of life of Filipino working class is heading for the worst as the value of their daily pay in pesos plunged to a measly 67 centavos in December last year, the lowest purchasing power of the local currency since 2008, the Associated Labor Unions (ALU) said. As a consequence of the diminishing value […]
The local stock barometer slipped on Wednesday but stayed above the 7,300 mark as investors pocketed recent gains. The main-share Philippine Stock Exchange index (PSEi) lost 47.29 points or 0.64 percent to close at 7,323.36, wiping the modest gain eked out in morning trade. The PSEi declined for the second straight session as investors reassessed […]
Gotianun-led East West Bank is raising as much as P10 billion from a fresh offering of high-yielding deposit notes this year. In a disclosure to the Philippine Stock Exchange on Wednesday, East West said it had obtained approval from the Bangko Sentral ng Pilipinas to issue up to P10 billion in long-term negotiable certificate of […]
MANILA, Philippines – Filipino snack food giant Monde Nissin is considering finally pushing through with its planned initial public offering (IPO) this year after putting this on hold since 2015, industry sources said. The company is already in talks with banks to handle the transaction, which is targeted to happen this year, sources said. Sun […]
MANILA, Philippines – PLDT Inc. has completed interconnection links with Globe Telecom Inc.’s landline services in Davao Oriental, a move which enables customers of both telcos in that area to make free local calls with each other. Genaro Sanchez, PLDT vice president and head of international network and carrier business said the interconnection agreement covers […]
MANILA — PTT Philippines and the country’s largest budget carrier Cebu Pacific have sealed a petroleum supply deal, with the Thai-owned oil firm committing to deliver the bulk of the Gokongwei-owned airline’s aviation fuel requirements for the year. In a press statement, PTT Philippines said that the agreement was formalized on Tuesday between its president […]
MANILA, Philippines – SMC Global Power Holdings Corp., the power generation arm of San Miguel Corp., will run the first two of its 4×150-megawatt (MW) coal-fired power plant in Bataan during the Malampaya shutdown to augment power supply in the Luzon grid. The first 150-MW unit will run on diesel as it currently undergoes commissioning […]
Southeast Asia’s budget airlines would see their collective fleets expand at a faster pace in 2017, after growth in this area hit a “low point” last year in the wake of overcapacity concerns, CAPA-Center for Aviation said. CAPA, which provides aviation market intelligence, said in a report this week the region’s 21 low cost carriers […]
AC Infrastructure Holdings Corp. may submit “some” unsolicited proposals of national significance within the year, its President and Chief Executive Officer Jose Rene D. Almendras told reporters late Tuesday. The infrastructure projects may cost billions of pesos, similar to the proposed redevelopment of NAIA, the company official noted without disclosing details. The administration of President […]
MANILA, Philippines – The Philippine government has submitted 40 projects for possible funding support from China, the Department of Finance said yesterday. Of the 40 projects, 15 were proposed for loan financing, while 25 were submitted for feasibility study support. The projects were presented to China by a high level Philippine delegation led by Finance […]