Gov’t lowers 2027 infra spending program
MANILA, Philippines — The Marcos administration slashed its infrastructure disbursement program for 2027 by about 20.8 percent to P1.34 trillion from the P1.691 trillion initially programmed by the Development Budget Coordination Committee,…
BIZ BUZZ: Garin unfazed by Semirara risk
MANILA, Philippines — Pausing Semirara coal mine operations may not pose a big loss for the Philippine power sector, the energy chief says, as the planned bidding faces a fresh delay. “On a general view, Semirara actually exports,” Departme…
Consumer spending lifts SMIC earnings
MANILA, Philippines — SM Investments Corp. (SMIC) booked a record first-half net income of P45.9 billion, up 8 percent, fueled by resilient consumer spending and gains across its diversified businesses. The Sy family-led conglomerate said o…
Monde Nissin booked P5.5-B January-June profit
MANILA, Philippines — Monde Nissin Corp. grew its core net income attributable to shareholders in the January-June period by 16.1 percent to a record P5.5 billion, supported by stronger gross profit and improving performance of its Quorn bu…
LNG supply eyed for Calabarzon ecozones
MANILA, Philippines — The Philippine Economic Zone Authority (Peza) is exploring a liquefied natural gas (LNG) supply system for economic zones in Calabarzon, aiming for a reliable and cost-effective energy source for local industries. To f…
iSON Group mulls $250-M agri, solar projects in PH
MANILA, Philippines — India-based iSON Group is expanding its presence in the Philippines, planning to invest $250 million in agricultural and solar projects in addition to its ongoing $300 million telecommunications tower rollout. iSON is …
SEC approves Arthaland’s P3-B preferred share offer
MANILA, Philippines — The Securities and Exchange Commission (SEC) approved Arthaland Corp.’s planned preferred share offering of up to P3 billion. The proceeds will partly fund a property project and redeem outstanding preferred shares. RE…
Airfare fuel surcharge to ease in late August
MANILA, Philippines — Travelers flying in and out of the Philippines will get a slight relief in the second half of August as additional airfare charges due to jet fuel costs will decline with an easing in global fuel prices.al fuel prices.…
DA bets on drones, AI to curb crop threats
MANILA, Philippines — The Department of Agriculture (DA) is banking on smart technology, particularly drones and artificial intelligence, to prevent crop threats and stop disease outbreaks. “The technology combines real-time environmental d…
CLI lines up P25B H2 project launches
MANILA, Philippines — Cebu Landmasters Inc. will launch over P25 billion in projects in the second half as it replenishes inventory after strong sell-through of its portfolio On Wednesday, the Soberano family-led developer said the pipeline…
Bleeding ABS-CBN to get P6B in fresh funds
MANILA, Philippines — The Lopez family and a Philippine investment firm will infuse P6 billion in fresh equity into ABS-CBN Corp., boosting capital as the company continues to pare losses. A chunk of the fresh funds, or P3.5 billion, will c…
BIR collections hit P358B in July
MANILA, Philippines — The Bureau of Internal Revenue (BIR) outpaced its July collection target by over P22 billion, keeping it on track to hit its revised full-year goal. In a statement on Wednesday, the BIR said gross collections reached P…
Lopez majority to invest P2.2B in ABS-CBN
MANILA, Philippines — The Lopez family majority is investing P2.2 billion of its own money in ABS-CBN Corp. to help the media company meet obligations to long-serving employees and support its recovery plans. The three branches of the Lopez…
JG Summit profit down by 37% in first half
MANILA, Philippines — JG Summit Holdings Inc. saw its first-half core net income fall 37 percent to P13 billion as higher fuel prices and a weaker peso weighed heavily on its airline business. On Wednesday, the Gokongwei-led conglomerate sa…
ACEN extends P1-B loan for Quezon wind park
MANILA, Philippines — ACEN Corp. is infusing up to P1 billion in a subsidiary to support the construction of a 344.5-megawatt (MW) wind park in Quezon province. In a regulatory filing, the listed renewable energy producer said it had execut…
Access to credit, qualified borrowers key to agri dev’t
A country’s agriculture bank should address its agriculture needs. A critical need is for the Philippines to increase our exports. This means more jobs and less poverty, which are urgent challenges today. Let us compare our agriculture expo…
ADB boosts healthcare funding for Filipinos to $750M
MANILA, Philippines — The Asian Development Bank (ADB) has increased its financing for the Philippines’ universal healthcare program, helping ease the government’s funding needs as an oil price shock linked to the Middle East conflict strai…
Weakening pillars of PH growth flagged
MANILA, Philippines — The traditional engines of growth that once made the Philippines one of Asia’s fastest-growing economies are losing momentum, a troubling shift that will require bold structural reforms to reverse, New York-based think…
SSS says P100-B income enough for sustainability
MANILA, Philippines — The Social Security System (SSS) is unfazed by a nearly 30-percent drop in its net income in the first semester, saying its priority remains increasing benefit payouts to members. According to SSS president and CEO Rob…
PH cacao debuts in New Zealand
MANILA, Philippines — The Philippines made its inaugural commercial shipment of cacao to New Zealand, opening up a new export market for locally produced agricultural products. The Department of Agriculture (DA) said fermented cacao beans h…