Lucio Tan Group Records Highest Net Income in a Decade as Lucio Tan III Assumes Presidency
The group ended 2022 with a PhP25.1 billion attributable net income, which is a 24% increase from the previous year. LTG’s tobacco business contributed 61% of the total attributable net income, followed by Philippine National Bank (PNB) at Php6.61 billion
EVAP goes to Korea for International EV Expo
The trip to Korea was a significant milestone for the EVAP and the Philippine EV industry. The event was a testament to the commitment of the EVAP to promoting sustainable and eco-friendly transportation solutions in the Philippines.
US-based nuclear power energy firm to invest in PH
A leading nuclear energy company from the US has expressed interest in investing in the Philippines, following a meeting with President Ferdinand Ferdinand “Bongbong” Marcos Jr. in Washington.
PDIC reports faster deposit insurance payments in 2022
The Philippine Deposit Insurance Corporation (PDIC) was able to speed up the payment of deposit insurance claims for nine banks ordered closed by the Monetary Board (MB) of the Bangko Sentral ng Pilipinas (BSP) in 2022.
Nickel miners spent P698.5M on environment, social dev’t projects in 2020—report
Members of the Philippine Nickel Industry Association (PNIA) invested over P698.5 million on environment and social development projects in 2020, the association said in a report.
4As suspends Gigil over Belo ad
Ad agency Gigil has been suspended as a member of the Association of Accredited Advertising Agencies of the Philippines (4As Philippines) after it released the controversial Belo ad in August.
PH worst among 121 countries in Covid-19 recovery—Nikkei Asia
Good economic outlook despite Delta variant threat—NEDA official
The National Economic and Development Authority (NEDA) was confident of a good economic outlook at the end of July despite the threat of the Covid-19 Delta variant that tightened quarantine protocols in Metro Manila.
Utility tech firm ABB wants Davao to catch up with Manila
Global utility tech company ABB plans to invest in Davao City as it catches up with the nation’s capital city Manila with its “potential in the utility space.”
GAC Motor Philippines chosen as official partner for 2021 PhilCycling National Trials
The Integrated Cycling Federation of the Philippines has chosen GAC Motor Philippines to become the official mobility partner of the 2021 PhilCycling National Trials for Road on July 10 to 11 at Clark Freeport and Special Economic Zone in Pampanga.
BSP to watch Covid-19 variants’ threat to inflation
While the country’s inflation rate in June 2021 eased to 4.1 percent, the Bangko Sentral ng Pilipinas (BSP) said it would still monitor the economic pressures brought about by the emerging coronavirus variants.
PH unemployment rate drops in May, at 7.7%
The May unemployment rate was a whole percentage point lower than the 8.7 percent recorded in April.
Still no funds from OWWA—Overseas Filipino Bank president
The Overseas Workers Welfare Administration (OWWA) has not yet contributed funds to the state-owned Overseas Filipino Bank (OFBank), the bank’s president said on June 29.
Duterte OKs merger of Landbank, UCPB
Landbank will remain as the surviving entity after the merger, with all UCPB assets and liabilities to be transferred to it.
PSA: 4.14M jobless in April during reimposition of ECQ, MECQ—PSA
The April unemployment rate was 8.7 percent, 1.6 percentage points higher than the March rate of 6.1 percent.
San Miguel fast-tracks SLEX extension to Lucena
In a statement, San Miguel said the 66.74-kilometer road project would boost the Southern Tagalog region, and contribute to the country’s pandemic recovery efforts.