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…
TDF rates decline this week
MANILA – Rate of the Bangko Sentral ng Pilipinas’ (BSP) term facilities fell across-the-board Wednesday due to oversubscription. Data released by the central bank showed that rate of the seven-day facility…
Peso, stocks recover
MANILA — The Philippine peso trekked back to the 50-level against the US dollar Wednesday after the country again successfully issued Euro-denominated bond, while the Philippine Stock Exchange index (PSEi) recovered…
Cordillera gets P20-B ‘Build, Build, Build’ infra projects
BAGUIO CITY — The Cordillera Administrative Region (CAR) is getting a PHP20.612-billion budget for infrastructure projects this year, an official of the Department of Public Works and Highways said. Engr. Clifton…
Oil firms to roll back prices on Tuesday
MANILA — Oil companies will cut fuel prices effective 6 a.m. on Tuesday. In advisories, Petro Gazz, Seaoil, and PTT Philippines said they will slash gasoline prices by PHP0.40 per liter,…
Peso rises, stocks dip on US’ pro-HK legislation
MANILA — Seasonal inflows of remittances from overseas Filipinos buoyed the Philippine peso on Thursday but concerns on the impact of a US legislation that supports Hong Kong pro-democracy protesters resulted…
Oil firms to cut prices this week
MANILA — Several oil companies have announced another price rollback effective 6 a.m. on Tuesday. In separate advisories, Seaoil, Petro Gazz, PTT Philippines and Flying V said they will reduce the…
Growers want PH-SoKor banana tariff stalemate resolved
MANILA — The country’s top banana growers and exporters are calling on both the South Korean and Philippine governments to immediately resolve stalemate on the proposed reduction of tariff rates on…
BSP eyes October ’19 inflation at 0.5% to 1.3%
MANILA — Philippine monetary officials forecast October 2019 inflation to decelerate to as much as 0.5 percent, slower than the 0.9 percent last September, but the upper end of the…
DBP installs ATMs in underbanked Palawan towns
MANILA — In support of the national government’s efforts to promote greater financial inclusion, state-owned Development Bank of the Philippines (DBP) recently installed offsite automated teller machines (ATMs) in the…
D.M. Wenceslao 9-month net income hits P1.65-B
MANILA — Construction and infrastructure group D.M. Wenceslao & Associates Incorporated on Wednesday reported its net income increased by 11 percent to PHP1.65 billion in the first nine months of…
Cusi cites need to tap all energy sources
MANILA — Energy Secretary Alfonso Cusi on Wednesday underscored the importance of tapping energy from all possible sources, including nuclear, as the country lacks adequate capacity to date. In his…
Peso, stocks rise ahead of Fed rate decision
MANILA — Expectations of another cut in Federal Reserve’s key rates after its October 29-30 meeting lifted the Philippine peso anew Wednesday while the risk-on sentiment also boosted the main…
Peso stays firm vs. USD; PSEi slips
MANILA — The Philippine peso ended the week better than the US dollar, unlike the Philippine Stock Exchange index (PSEi), which declined due to growth concerns given the latest economic…
NEDA chief bares changes in infra program
MANILA — Several major bridge projects, with an estimated cost of at least PHP161.6 billion, will be removed from the priority infrastructure program of the government but smaller public-private partnership…