CHELSEA LOGISTICS and Infrastructure Holdings Corp. is seeking to increase its authorized capital stock to P3.5 billion. In a disclosure to the stock exchange on Monday, the listed company said it had applied for the amendment of its articles of incorporation to hike its authorized capital stock from P2 billion to P3.5 billion. It is […]
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Greenergy sets up units for infrastructure, community development
ANTONIO L. Tiu-led Greenergy Holdings, Inc. has approved the incorporation of two wholly-owned units focusing on projects and services related to infrastructure and community development, the listed firm said on Monday. In a regulatory filing, Greenergy said that its board of directors, who met over the weekend, had authorized the incorporation of wholly owned subsidiaries, […]
GDP likely contracted by 8.5% in Q4
Consumer spending likely increased in the fourth quarter, as Filipinos spent more during the holiday season. — PHILIPPINE STAR/MICHAEL VARCAS By Beatrice M. Laforga, Reporter THE Philippines’ gross domestic product (GDP) likely contracted slower in the fourth quarter due to a pickup in economic activity as lockdown restrictions were further eased and higher consumer spending […]
Q4 and full-year 2020 GDP forecast
THE Philippines’ gross domestic product (GDP) likely contracted slower in the fourth quarter due to a pickup in economic activity as lockdown restrictions were further eased and higher consumer spending during the holiday season. Read the full story.
NEDA board approves updated economic blueprint for next 2 years
The government will release the updated Philippine Development Plan on Feb. 4. — PHILIPPINE STAR/MICHAEL VARCAS THE NATIONAL Economic and Development Authority (NEDA) board, chaired by President Rodrigo R. Duterte, has approved the country’s medium-term economic development blueprint which was updated to consider the impact of the coronavirus disease 2019 (COVID-19) pandemic. “The Updated Philippine […]
‘Worst is over’ but FDI flows seen to remain low
A test tube labeled with the coronavirus is seen in front of US dollar, yuan and pound banknotes, in this illustration taken on March 1, 2020. — REUTERS/DADO RUVIC By Luz Wendy T. Noble, Reporter THE DECLINE in foreign direct investments (FDI) may have already bottomed out in 2020, but the Philippines’ ability to attract […]
Carmakers call for gov’t support on local assembly
By Jenina P. Ibañez, Reporter A CAR industry group is urging the government to support local assembly after another manufacturer stopped its Philippine production. Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) President Rommel R. Gutierrez said that Nissan Philippines, Inc.’s recent announcement to end car assembly in the country highlights the importance of […]
Paris Men’s Fashion Week: Fashion interpreting our new lives
1 of 5 DIOR — PHOTO FROM DIOR.COM DIOR — PHOTO FROM DIOR.COM HERMÈS — PHOTO FROM HERMES.COM LOUIS VUITTON — YOUTUBE/LOUISVUITTON LOUIS VUITTON — YOUTUBE/LOUISVUITTON PARIS Men’s Fashion Week has just ended, and Paris Couture Week is about to start. In a changed and changing world, the world’s fashion capitals have had to adjust […]
Converge expects 55% household coverage by 2025
By Arjay L. Balinbin, Senior Reporter LISTED fiber internet provider Converge ICT Solutions, Inc. is aiming to cover more than half of the country’s households by 2025, its top official said. “We are hopeful that we can contribute to economic recovery as we reach our objective of 55% household coverage by 2025 with our fiber […]
NBA licensed merchandise in Decathlon stores soon
NATIONAL Basketball Association (NBA) licensed merchandise will soon be available in Decathlon stores in the country after the French sporting goods retailer was recently named an official licensee of the United States-based basketball league. In an announcement officially made on Friday, the NBA said it signed a multiyear merchandising partnership with Decathlon, making the latter […]
Alsons allots P6.54 billion for four projects
By Angelica Y. Yang ALCANTARA-LED Alsons Consolidated Resources, Inc. (ACR) has earmarked around P6.54 billion as capital expenditures (capex) for four projects under development, including three hydro plants, the listed firm said over the weekend. ACR, which claims to be the first private sector power generator in Mindanao, has an aggregate installed capacity of 468 […]
Latest version of Adidas Ultraboost available in February
THE LATEST version of the adidas Ultraboost shoe line will be available in the country beginning next month. Designed and developed with input from runners and testers, the Ultraboost 21 features a bold new design combined with the latest in performance technology. At the center of the development of the Ultraboost 21 is the redesign […]
BSP seen unlikely to touch rates this year
The Philippine central bank would probably pause monetary easing this year until previous rate cuts lead to substantial credit growth, according to Standard Chartered Bank. The Bangko Sentral ng Pilipinas is likely to bring down banks’ reserve requirements further instead to boost liquidity, Chidu Narayanan, an economist at the foreign bank, told an online news […]
PEZA eyes P100B in pledges this year
The Philippine Economic Zone Authority (PEZA) seeks to get more than P100 billion in investment pledges this year, slightly higher than last year. “We don’t want to be promising high figures,” PEZA Director-General Charito B. Plaza said in an e-mailed statement on Friday. “Instead, we must work hard and build support and partnerships from public […]
Philippines, Indonesia eye copper tie-ups
The Philippines and Indonesia have pledged to deepen ties to boost their copper industries, according to the Trade department. Officials from both countries met virtually on Jan. 14 to exchange information, share good practices, and present investment opportunities and areas for collaboration in the sector, the Philippine Trade department said in a statement on Friday. […]
Philippines tightens testing for travelers
The Philippines on Friday tightened testing protocols for foreign travelers to ensure the detection of new coronavirus strains. Passengers from countries where new COVID-19 variants have been detected must undergo a second coronavirus swab test on their fifth day of quarantine, according to an order issued by an inter-agency task force. Co-passengers and the partner […]
Younger kids allowed in malls
Minors as young as 10 years may go out to visit malls in areas under a general lockdown starting Feb. 1 to boost consumer spending, according to the government’s task force against the coronavirus. “Any person below 10 years old, those who are over 65 years of age, those with immunodeficiency, comorbidity, or other health […]
CHEd seeks dialog on academic freedom
The Commission on Higher Education (CHEd) will convene a panel to discuss academic freedom and how law enforcers can protect it, according to the agency. This was after the Philippine military unilaterally ended a deal with the University of the Philippines (UP) banning soldiers inside the state institution. “The implementation of the Department of National […]
Megawide, GMR turn over Clark airport’s new terminal building to gov’t
The consortium of listed builder Megawide Construction Corp. and Bangalore- based airport operator GMR Infrastructure Ltd. officially handed over to the government on Friday the new passenger terminal building of the Clark International Airport. “This handover comes at exactly the right time when our country needs infrastructure projects to help restart our economy in light […]
Premiere Horizon enters agritech sector
Listed holding firm Premiere Horizon Alliance Corp. has ventured into agriculture technology (agritech) sector via its subsidiary, PH Agriforest Inc. In a regulatory filing on Friday, Premiere Horizon said that through PH Agriforest, it plans to leverage on the financial technology (fintech) expertise of its parnter SquidPay Technology, Inc. by using technology to increase yield […]