Megaworld, the country’s leading developer of integrated urban townships, posted a 34-percent drop in its net income during the first half of 2020 to PHP5.9 billion from PHP8.9 billion during the same period last year.
Category: Business
Central Luzon LGUs welcome NLEX Candaba Viaduct upgrading
The ongoing upgrading of the North Luzon Expressway (NLEX) Candaba Viaduct, the decades-old elevated highway connecting this town, and the town of Apalit in Pampanga gained support from the public and private sectors in North and Central Luzon.
Rise of online shopping nationwide, not just from metro
The increase of online shopping since the implementation of community quarantines to address the rise of coronavirus disease 2019 (Covid-19) cases cannot be attributed primarily to the metropolis but nationwide.
Britain enters deepest recession on record due to pandemic
Britain has officially entered into a recession, according to new figures published on Wednesday. The recession is its deepest since the start of record-keeping and deeper than any other major economy.
PH T-bill rates down anew
MANILA — Rates of the Philippines treasury bills (T-bills) slid across-the-board Monday still on expectations of another cut in the Bangko Sentral ng Pilipinas’ (BSP) policy rates. Average rate of the…
SRA bares attempts to manipulate sugar prices
MANILA — Sugar Regulatory Administration (SRA) chief Hermenegildo Serafica said there are some sectors trying to manipulate the market by spreading rumors that may lead to higher retail prices of sugar.…
Luzon grid placed on 1-hour red alert Thursday night
MANILA — A red alert notice was issued by the National Grid Corporation of the Philippines (NGCP) covering the Luzon grid between 7-8pm Thursday, a second during the day, after Unit…
Power sector asked to ensure supply after red alert notice
MANILA — Officials of the Department of Energy (DOE) met with power industry players from government and the private sector on Wednesday to identify what additional measures are needed to ensure…
Cement shortage seen to delay new construction projects
MANILA — A property consultancy firm warned that the current shortage of cement is likely to hold back the construction of new buildings. Pronove Tai International Consultants said increase in the…
DOE closely coordinating with power suppliers as demand goes up
MANILA — The Department of Energy (DOE) assured the public of continued coordination with power industry players in view of the heightened demand for electricity during the sweltering summer season. The…
Cebu Pacific warns public vs. fake websites, promos
MANILA — Local carrier Cebu Pacific (CEB) has warned passengers against fake websites and promos. The carrier has an ongoing seat sale in line with its anniversary this month. Beginning March…
Local markets end trading week lower
MANILA — The local stock barometer declined anew on Friday as investors rebalanced holdings and stocks, while the peso continued retreating against the greenback. The benchmark Philippine Stock Exchange index…
PCC imposes P6.5-M fine on Grab for submitting wrong data
MANILA — The Philippine Competition Commission (PCC) slapped a PHP6.5-million fine on ridesharing firm Grab Philippines after it violated its voluntary commitments following the approval of its acquisition of Uber…
Peso down on weak global growth outlook, PSEi sideways
MANILA — The peso depreciated anew, even touching the 53-level in mid-trade, while the Philippine Stock Exchange index (PSEi) barely managed to stay afloat Tuesday amid a host of volatilities.…
PNR asks for feasibility of Cabanatuan-Makati line
MANILA — The Philippine National Railways (PNR) has requested the National Economic and Development Authority (NEDA) for a feasibility study on the planned Cabanatuan-Makati Line or the northeast commuter line,…
BSP coordinating with Cebuana Lhuillier about data breach
MANILA — The Bangko Sentral ng Pilipinas (BSP) is coordinating with officials of Cebuana Lhuillier (CL) to prevent criminals from using stolen personal information of clients. “The BSP is closely monitoring…
AirAsia exec sees bright 2019 for aviation industry
MANILA — AirAsia Philippines chief executive officer Dexter Comendador sees a bright future ahead for the Philippine aviation industry this year. In an exclusive interview with the Philippine News Agency (PNA),…
Peso weaker, local shares move up Thursday
MANILA — Local markets went their own direction as the Philippine peso weakened while the Philippine Stock Exchange index (PSEi) gained strength on Thursday’s trading. Tracking the movements in regional…
Domestic carmakers sales down 16% in 2018
MANILA — The overall sales of local carmakers dropped by 16 percent in 2018, greater than its projected 14-percent decline for the year, the Chamber of Automotive Manufacturers of the Philippines,…
Lower oil prices to benefit peso during 1st sem
MANILA — The drop in international petroleum prices is seen to give the Philippine peso some lift during the year’s first semester but Fitch Solutions expects the local unit to be…