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Sucat Thermal Power Plant attracts 10 bidders

By Juzel L. Danganan MANILA, Dec 1 (PNA) – Two foreign firms are keen on acquiring the decommissioned 850-megawatt (MW) Sucat Thermal Power Plant, according to state-owned Power Sector Assets…

Ayala power unit scraps Php 3.3-B solar project in Davao del Sur

By Juzel L. Danganan MANILA, Nov. 27 (PNA) – AC Energy Holdings, Inc., the power unit of Ayala Corp., has scrapped plans to put up a solar project in Sta….

Globe sustains growth of prepaid business with co-branding partnership, better offers

MANILA, Nov. 27 (PNA) — Globe Telecom is looking to sustain growth momentum of its prepaid business after several quarters of strong performance with a co-branding partnership with leading mobile…

SM Seaside City Cebu opens

CEBU CITY, Nov. 27 (PNA) — SM Prime Holdings Inc. (SMPH), the Philippines’ leading shopping mall developer, on Friday opened SM Seaside City Cebu at the 300-hectare South Road Properties…

Security Bank to sell stake in property unit for Php1.6 B

By Leslie D. Venzon MANILA, Nov. 25 (PNA) — Security Bank Corp. (SBC) will sell its 51.81-percent stake in real estate unit, Security Land Corp. (SLC), for Php1.6 billion, in…

PHL September import growth among highest in Southeast Asia

By Leslie D. Venzon MANILA, Nov. 25 (PNA) — Imports grew for a fourth consecutive month last September on higher purchases of raw materials and intermediate goods, capital and consumer…

PHL economy likely grew 6.2% in Q3; to expand 6.8% in Q4 — FMIC & UA&P

By Leslie D. Venzon MANILA, Nov. 25 (PNA) — The Philippine economy is forecast to sustain its strong pace of growth in the second half of 2015 on the back…

PHL stocks extend rally

MANILA, Nov. 25 (PNA) — The Philippine equities market returned to the 7,000-level on Wednesday ahead of the release of the official third-quarter gross domestic product (GDP) figure. The barometer…

Rizal Microbank eyes PhP1-M net income in 2016

MANILA, Nov. 25 (PNA) — Rizal Microbank is all eyes on Mindanao, which it considers as the key to be able to register its first net income of about PhP1…

Electronics imports up by 33%

MANILA, Nov 25 (PNA) — Inbound shipment of electronic goods in the first nine months of the year increased by 33.2 percent to USD14.61 billion from the same period last…

Opening up economies would benefit everyone – APEC

MANILA, Nov. 24 (PNA) — When the Asia-Pacific Economic Cooperation (APEC) was established 26 years ago, its foundation was laid with the vision of a region free from protectionism. In…

PSEi retreats anew

MANILA, Nov. 24 (PNA) — The local stock market snapped a three-day gain on Tuesday, tracking overseas developments. The barometer Philippine Stock Exchange index (PSEi) lost slightly 3.59 points to…

PHL posts USD 469M BOP surplus in October ’15

By Joann Santiago MANILA, Nov. 24 (PNA) — The Philippines continue to post surplus in its balance of payment (BOP) position with the October 2015 level at USD 469 million,…

Avida Land eyes over Php7-B sales from new BGC residential project

MANILA, Nov. 24 (PNA) — Avida Land, a subsidiary of property giant Ayala Land, Inc., expects over Php7 billion in sales from two-tower condominium project, Avida Towers Turf BGC, its…

Moody’s changes outlook on PHL banks from positive to stable

By Joann S. Villanueva MANILA, Nov. 24 (PNA) — Moody’s Investors Service remain optimistic on the Philippines’ banking system but lowered its outlook from positive to stable on projected slight…