PH adds $1.25B to COVID war chest
The Philippines secured a total of $1.25 billion in loans from two multilateral lenders last Thursday, beefing up its war chest in the fight against the COVID-19 pandemic. The Beijing-based…
Puregold profit shoots up by 16.8% in Q1 amid COVID-19
Grocery chain operator Puregold Price Club Inc. has emerged unscathed from the earnings pressure caused by the new coronavirus disease (COVID-19) pandemic, as consumers stocked up on essential goods even…
Sumitomo takes 19.2% stake in LRT1
Japanese conglomerate Sumitomo Corp. has acquired a 19.2-percent stake in the company that holds the concession to operate, maintain and extend the 20.7-kilometer Light Railway Transit 1, giving more financial…
SMC operations suffer due to pandemic
Conglomerate San Miguel Corp. (SMC) saw a 91-percent year-on-year drop in first-quarter net profit to P1.09 billion as the lockdown measures required to address the new coronavirus (COVID-19) pandemic gnawed…
BSP sees steady inflation rate in May
The steady increase in fuel prices in May—after dropping sharply in the previous month at the height of the lockdown imposed to fight the coronavirus pandemic—may have pushed the country’s…
Metro Pacific resumes work on big-ticket infra projects
The tollroad arm of Metro Pacific Investments Corp. has restarted work on big-ticket projects as the government has eased strict quarantine measures. In a statement on Friday, subsidiary Metro Pacific…
PSEi pushes past 5,800 as market celebrates NCR’s reopening
The local stock barometer rallied to the 5,800 mark in heavy volume on Friday as investors anticipated the reopening of Metro Manila after a two-month lockdown alongside a scramble to…
Peza insists on status quo in fiscal incentive system
The Philippine Economic Zone Authority (Peza) has warned against experimenting on new tax breaks in the middle of the pandemic, but the Department of Trade and Industry (DTI) said the…
Poe: Private sector first to act vs COVID-19
Sen. Grace Poe on Friday (May 29) praised the private sector’s early action in the fight against the novel coronavirus disease (COVID-19) amid what was described as the Duterte administration’s…
PH adds $1.25B in loans to war chest vs COVID-19
The Philippines secured a total of $1.25 billion in loans from two multilateral lenders last Thursday (May 28), filling its war chest in the fight against COVID-19. The China-led Asian…