Semirara power units boost profits to P7.86 billion
BusinessMirror. - 2017-08-10
SEMIRARA Mining and Power Corp. (SMPC) posted a 24-percent increase in net income in the first half of the year to P7.86 billion, from P6.36 billion in the same period a year ago, mainly due to stronger contributions from its power units. Net of ...

Forex losses yank down San Miguel H1 earnings
BusinessMirror. - 2017-08-10
Operating income rose 44 percent to P594 million, while net income almost doubled to P265 million. Revenues of San Miguel Pure Foods Co. Inc. rose 5 percent to P55.9 billion due to higher volumes and favorable selling prices of its poultry, fresh-meats and ...

Forex losses yank down San Miguel H1 earnings
BusinessMirror. - 2017-08-10
Liquor unit Ginebra San Miguel Inc. had revenues reaching P10.1 billion, 20 percent higher than last year. Operating income rose 44 percent to P594 million, while net income almost doubled to P265 million. Revenues of San Miguel Pure Foods Co. Inc. rose 5 ...

Forex losses yank down San Miguel H1 earnings
BusinessMirror. - 2017-08-10
Liquor unit Ginebra San Miguel Inc. had revenues reaching P10.1 billion, 20 percent higher than last year. Operating income rose 44 percent to P594 million, while net income almost doubled to P265 million. Revenues of San Miguel Pure Foods Co. Inc. rose 5 ...

RCBC reports P2.35-b income
thestandard.com.ph - 2017-08-10
Rizal Commercial Banking Corp., the ninth-largest lender in terms of assets, said Thursday net income in the first half reached P2.35 billion, down by 10 percent from P2.61 billion a year ago. RCBC said in a statement this performance translated into an ...

Semirara nets P7.9b on higher coal sales
thestandard.com.ph - 2017-08-10
Semirara Mining and Power Corp. recorded a 24-percent increase in net income after tax in the first half to P7.86 billion from P6.36 billion in the same period last year, on higher coal and electricity sales. Semirara said in a disclosure to the stock ...

NEDA reviews San Miguel's proposed airport in Bulacan
Rappler - 2017-08-10
MANILA, Philippines - The proposal of San Miguel Corporation (SMC) to build an international airport in Bulacan is now being reviewed by the National Economic and Development Authority (NEDA). Socioeconomic Planning Secretary Ernesto Pernia said the NEDA ...

Purefoods profit up in Jan-June
Philstar - 2017-08-10
MANILA, Philippines - San Miguel Pure Foods Company Inc. said net income rose to P3.1 billion in the first half, up 26 percent on strong second quarter performance. Revenues increased five percent to P56 billion as volumes increased and selling prices of ...

Trade gap narrows as exports inch up
BusinessWorld Online - 2017-08-10
Ruben Carlo O. Asuncion, chief economist at Union Bank of the Philippines (Union Bank), agreed: "This slight improvement in the trade deficit is very positive. It must be understood that not all trade deficits are bad for an economy, in the first place.

PLDT Q2 profit surges 85% on Beacon divestment
BusinessWorld Online - 2017-08-10
PLDT, Inc. registered an 85% increase in its attributable net income in the second quarter, due to the divestment of its equity interest in Beacon Electric Asset Holdings, Inc. last June and growth in its data and broadband businesses. In a regulatory ...

San Miguel says recurring net income hits P27.6B in 1 st half
BusinessWorld Online - 2017-08-10
Revenues for the group were flat at P40.7 billion, from the P41.1 billion a year ago. Meanwhile, Petron Corp. exhibited a 28% growth in revenues to P207 billion, pushing its net income 56% higher to P8.2 billion. "This was driven by a deliberate focus on ...

Ayala to join Metro Pacific in MRT3 rehab proposal
Rappler - 2017-08-10
MANILA, Philippines - Ayala Corporation will join Metro Pacific Investments Corporation in the planned unsolicited proposal to upgrade the glitch-prone Metro Railway Transit Line 3 (MRT3). Ayala Infrastructure Holdings president and chief executive Rene ...

Wireless business remains headache for PLDT
BusinessMirror. - 2017-08-10
WHILE its net profits widened by a third during the first half of the year, PLDT Inc. still took a hit from its wireless business with Chairman Manuel V. Pangilinan saying the telecommunications company is not "out of the woods" yet. On Thursday ...

Semirara power units boost profits to P7.86 billion
BusinessMirror. - 2017-08-10
SEMIRARA Mining and Power Corp. (SMPC) posted a 24-percent increase in net income in the first half of the year to P7.86 billion, from P6.36 billion in the same period a year ago, mainly due to stronger contributions from its power units. Net of ...

RCBC reports P2.35-b income
thestandard.com.ph - 2017-08-10
Rizal Commercial Banking Corp., the ninth-largest lender in terms of assets, said Thursday net income in the first half reached P2.35 billion, down by 10 percent from P2.61 billion a year ago. RCBC said in a statement this performance translated into an ...

Philippine Airlines to start daily flights on Manila-London route
ftnnews.com - 2017-08-10
Philippine Airlines is all set to boost its operations between Manila and London Heathrow with the deployment of its state-of-the-art 370 seater Boeing 777-300s on the route beginning September 19. The triple7, considered the airline's flagship aircraft on ...

Quezon City mayor makes pitch for city to manage own dump site
BusinessMirror. - 2017-08-10
Experts said Payatas should not have been established as a sanitary landfill, since it is near major subdivisions in Quezon City and nearby towns in Rizal, and it emits foul odor, particularly at night, prompting complaints from residents of Filinvest 2 ...

ABS-CBN sues Canadian firm for copyright breach
Inquirer - 2017-08-10
The broadcast firm filed a $5-million damage suit against Techspeed Canada Inc., Joe Baddas, Ferdinand Molina and Todd Ross before the Canadian Federal Court for copyright infringement, trademark infringement and enabling and inducing copyright ...

Central Azucarera de Tarlac Inc (CAT)
investing.com - 2017-08-10
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so ...

Manila Water income up 3%
Philstar - 2017-08-10
MANILA, Philippines - Ayala-led and east zone concessionaire Manila Water Co. Inc. reported a three percent increase in ... In a regulatory filing, the company said revenues went up four percent to P9.1 billion while EBITDA (earnings before interest ...

Investors cool on Canadian banks, turn to insurers, amid housing fears
New York Daily News - 2017-08-10
Higher bond yields reduce the value of insurance companies' liabilities, boosting their earnings. Manulife Financial Corp and Sun Life Financial Inc , two of Canada's biggest insurers, are due to report second-quarter earnings after the market closes on ...

Skyway Quirino portion to open by Q2 2018
BusinessWorld Online - 2017-08-10
The project, with San Miguel Corporation (SMC) Infrastructure as concessionaire and part of the Citra Central Expressway Corporation (CCEC) consortium, costs P37.43 billion. The Skyway will have 14 toll plazas and eight local interchanges located in ...

OCD to spearhead earthquake, tsunami SIMEX on August 17
news.pia.gov.ph - 2017-08-10
During the tragic incident that happened 41 years ago, the barangays that were greatly affected were Balangasan, Dumagoc, Kawit, Santiago, San Pedro, Sta. Lucia, and White Beach. "We will work as a team under one structure to ensure that the populace is ...

Beacon divestment lifts PLDT's core income to over P12B
Rappler - 2017-08-10
MANILA, Philippines (UPDATED) - A divestment in Beacon Electric Asset Holdings Incorporated (Beacon) and a manpower reduction program lifted PLDT Incorporated's core income for the 2nd quarter of 2017 to P12.1 billion. This is compared to the P10.5 ...

PAGCOR touts advantages of casino move to Luneta
BusinessWorld Online - 2017-08-10
a site leased from Acesite (Phils.) Hotel Corp. The gaming regulator affirmed that the deal would be advantageous, as it would only be paying a monthly rent of P13 million to VMC, which is less than half of the P28 million it is currently paying Acesite in ...

PAGCOR touts advantages of casino move to Luneta
BusinessWorld - 2017-08-10
a site leased from Acesite (Phils.) Hotel Corp. The gaming regulator affirmed that the deal would be advantageous, as it would only be paying a monthly rent of P13 million to VMC, which is less than half of the P28 million it is currently paying Acesite in ...

Greenpeace statement on the proposed coal plant in Batangas City
Greenpeace International - 2017-08-10
Batangas City --The Department of Environment and Natural ... A Public Health Crisis," which was based on a study conducted together with Harvard University, estimates that 2,400 Filipinos are dying from coal-related air pollution every year.

Global BPO opens fifth Cebu facility
- 2017-08-09
Global professional services company, Accenture Philippines opened its fifth office facility in Cebu, reinforcing its lead as the major employer in innovation-based and high-value skills in the province.

Stock mart closes flat; Petron, SMIC advance
thestandard.com.ph - 2017-08-09
SM Investments Corp., which booked a net income of P16.6 billion in January to June on a 9-percent increment from a year ago, went up 1.2 percent to P830, while SM Prime Holdings Inc. added 1.2 percent to close at P34.20. Newly listed Chelsea Logistics ...

Vista Land allocates P5b to build new shopping malls
thestandard.com.ph - 2017-08-09
Property developer Vista Land & Lifescapes Inc. is spending nearly P5 billion over the next two years to build four new malls and expand an existing one as part of the strategy to build up recurring income, an executive said Wednesday. Vista Land investor ...

ABS-CBN sues Canadian company
thestandard.com.ph - 2017-08-09
ABS-CBN Corp. said Wednesday it filed a $5-million lawsuit against a Canada-based company for copyright infringement. The broadcast network, led by the Lopez family, said it served a statement of claim issued in Canadian Federal Court against Techspeed ...

MRC, Uni Solar enter solar rooftop market
BusinessMirror. - 2017-08-09
MRC Allied Inc. and Uni Solar Inc. (Uni Solar) will work together to look at opportunities in developing solar-rooftop projects. The listed firm said on Wednesday that it signed a memorandum of understanding (MoU) with Uni Solar. The MOU signing confirms ...

Unmanned US strike drones up for consideration
Philstar - 2017-08-09
Col. Chris Logan said, the US respects the sovereignty of the ... The fact is, many nations are eager to help the Philippines in its war against terrorism and finish off the Maute group and its extremist cohorts. Singapore, for instance, has offered ...

Erap unveils MVP tech center at PLM
Philstar - 2017-08-09
PLM president Ma. Leonora "Lenny" de Jesus, PLM vice president for academic affairs Gil Evasco, PLM College of Engineering and Technology - Student Council vice president Ezekiel Mangabat, PLDT-Smart Foundation president Esther Santos and Meralco ...

SMIC builds up H1 profit to P16.6 B
Philstar - 2017-08-09
For property, SM Prime Holdings reported a P14.4 billion in net income, up 14 percent. SM Prime opened SM CDO Downtown Premier in Cagayan de Oro, S Maison at Conrad Manila in Pasay City and SM Cherry in Antipolo, Rizal, bringing total Philippine operating ...

Manila Water posts P3.22-b net income
thestandard.com.ph - 2017-08-09
Manila Water Company Inc. posted a net income of P3.22 billion in the first half, up by 3 percent from P3.14 billion registered in the same period last year, on higher billed volume and more service connections. Manila Water said in a disclosure to the ...

PSBank cuts stake in leasing company
thestandard.com.ph - 2017-08-09
"PSBank Retirement Fund will also sell its entire shareholdings in SMFC consisting of 2,000,000 shares or the amount of P94.98 per share, or a total of P189,960,000.00 to GT Capital Holdings Inc.," it said. SMFC is a joint venture established by ...

P22.75 cash dividend for Globe common shareholders gets nod
The Daily Tribune - 2017-08-09
Globe Telecom said its board approved the third quarterly distribution of cash dividend of P22.75 per share for holders of its common shares. The dividend will be paid to shareholders on record as of August 22, 2017, payable on September 6, 2017.

Metro Retail earned P401m in first half
thestandard.com.ph - 2017-08-09
Metro Retail Stores Group Inc. said it registered a net income of P401 million in the first half, up 53 percent from P262 million in the same period last year, as revenues grew faster than expenses. Metro Retail said in a financial statement with the ...

MRC, Uni Solar enter solar rooftop market
BusinessMirror - 2017-08-09
MRC Allied Inc. and Uni Solar Inc. (Uni Solar) will work together to look at opportunities in developing solar-rooftop projects. The listed firm said on Wednesday that it signed a memorandum of understanding (MoU) with Uni Solar. The MOU signing ...

Planbank marks 65th anniversary
BusinessMirror. - 2017-08-09
Planbank Rural Bank of Canlubang Planters Inc. marks its 65th anniversary with a Thanksgiving Mass at the main office on National Highway, Barangay Halang, Calamba City, Laguna. Incorporated in 1952, Planbank has grown into a network of 15 branches in the ...

Now to spend P500 million in 5G-connection offer
BusinessMirror. - 2017-08-09
CORPORATE internet services provider Now Corp. will expand its broadband infrastructure in Metro Manila with pre-5G technologies to deliver its Internet and cable-television connectivity to enterprises, earmarking P500 million for the said initiative.

Geri posts record income in first half
BusinessMirror. - 2017-08-09
GLOBAL-Estate Resorts Inc. (Geri), a unit of property developer Megaworld Corp., said its income rose 44 percent during the first half of the year to a record P670 million, from P465 million in the same period last year. Consolidated revenues reached P3 ...

Water interruption in Las Piñas, Pasay, Parañaque to end on Aug. 10
BusinessMirror. - 2017-08-09
WEST Zone concessionaire Maynilad Water Services Inc. (Maynilad ... convenient for you," the company said. Maynilad is the biggest private-water concessionaire in the country customer base-wise, covering the cities of Manila (certain portions), Quezon ...

2 set pace in PGT Asia Tour Qualifying School
thestandard.com.ph - 2017-08-09
The top 80 players after 36 holes will advance to the final two rounds with the top 60 and ties gaining cards and joining the top 40 in the current Philippine Golf Tour Order of Merit ranking in the new regional circuit backed by Aboitiz Equity Ventures ...

Megawide Construction says qtrly gross revenue 4.77 billion pesos
Reuters - 2017-08-09
Aug 10 (Reuters) - Megawide Construction Corp ::Qtrly gross revenue 4.77 billion pesos versus 4.22 billion pesos.Qtrly net income attributable 487.0 million pesos versus 494.1 million pesos.

How to spot the next stock-market rally
BusinessMirror. - 2017-08-09
Next month I will be speaking at the Financial Advisors Congress on "How to Spot the Next Stock Market Crash". But, in fact, "crashes" are much easier to forecast than long- term stock-market rallies. Certainly, there are always hidden lions ...

GT Capital ventures into microfinance
Rappler - 2017-08-09
MANILA, Philippines - GT Capital Holdings Incorporated is dipping ... PSBank, the thrift bank arm of Ty-led Metropolitan Bank & Trust Company (Metrobank), said in a separate disclosure that the proceeds of the sale would be used to beef up its capital ...

PSBank net income inches higher in first semester
BusinessWorld Online - 2017-08-09
PHILIPPINE SAVINGS Bank (PSBank ... In a disclosure to the local bourse on Tuesday, the thrift lending arm of Ty-led Metropolitan Bank & Trust Co. (Metrobank,) said its net income came in at P1.18 billion in the January to June period, posting a 2% ...

SM Investments earns over P16 billion in just 6 months
Rappler - 2017-08-09
MANILA, Philippines - SM Investments Corporation, the conglomerate of the Philippines' richest family, posted a 9% growth in net income to P16.6 billion in the 1st 6 months of 2017, boosted by strong contributions from core property, banking, and retail ...