PCC clears Scatec Solar’s 100% acquisition of shares in SN Power

THE Philippine Competition Commission (PCC) said it recently approved the acquisition by Scatec Solar ASA, a Norwegian renewable energy company, of 100% shares in SN Power AS. In an e-mailed statement, the commission said its Mergers and Acquisitions Office found that the transaction between Scatec Solar and SN Power “does not result in substantial lessening […]

Peso slips vs dollar

THE PESO weakened against the greenback on Monday as the market repositioned ahead of US President-elect Joseph R. Biden.’s first day in office. The local currency inched down by one centavo to P48.075 versus the dollar on Monday from its P48.065 finish on Friday, based on the data from the Bankers Association of the Philippines. […]

Mounting bill for Malaya plant upkeep forces PSALM to seek negotiated sale

THE Power Sector Assets and Liabilities Management Corp. (PSALM) will seek approval to pursue a negotiated sale for the 650-megawatt Malaya Thermal Power Plant, citing unsustainable maintenance costs and following years of failed auctions to dispose of the rarely-used facility, the Department of Energy (DoE) said. “PSALM shall proceed and get Board approval to immediately […]

PHL migrant population growth among world’s top 5 in past 20 years — UN

THE GROWTH in the Philippines’ migrant population was the fifth-largest between 2000 and 2020, behind India, Syria, Venezuela and China, according to a study conducted by the United Nations (UN). “Between 2000 and 2020, the size of the migrant population abroad grew for nearly all countries and areas of the world. India experienced the largest […]

Coconut, calamansi touted for market potential in Europe

THE Department of Trade and Industry (DTI) said Monday that it will help producers interested in exporting coconut, calamansi, carrageenan, and moringa to Europe, where they are expected to sell well. “A market study found that coconut, calamansi, carrageenan, and moringa have big potential in European markets. Other Philippine agricultural products cited were ube, turmeric, […]

Philippines watching Norway deaths involving Pfizer drug

PFIZER, Inc.’s emergency use authorization (EUA) from the Philippines for its coronavirus vaccine stays, as Health authorities await a report on the deaths of elderlies in Norway after getting vaccinated. Norwegian authorities were still looking into the issue, Health Undersecretary Maria Rosario S. Vergeire said on Monday, noting that the vaccine had been given to […]