Investment holding firm Premiere Horizon Alliance Corp. (PHA) has obtained board approval to buy 33 percent of digital payments firm Squidpay Technology Inc. (SPT) for as part of a “reverse takeover” deal that ceded PHA’s boardroom and management control to SPT’s owners. Trading on PHA was suspended by the Philippine Stock Exchange on Thursday pending…
The 252-megawatt wind farm in Vietnam’s Quang Binh province, a joint venture between the Ayala group’s AC Energy Corp. (Acen) and AMI Renewables, has started commercial operations. This is the partners’ third project together, touted as one of the largest wind farms in Vietnam. It now paves the way for the two companies to pursue…
Philippine exports are on track toward closing the year with better numbers and sustain the sector’s improved performance in the first half as the country and the rest of the world continue to recover from the coronavirus pandemic, according to the central bank. In an online briefing on Thursday, Bangko Sentral ng Pilipinas Governor Benjamin…
Factory output growth moderated to a still strong on the back of expansion posted in 13 industries, the Philippine Statistics Authority (PSA) reported Tuesday. The PSA’s monthly integrated survey of selected industries (Missi) report for September showed the increase in volume of production index (VoPI) — a proxy for factory output — slowed compared to…
Property giant SM Prime Holdings (SMPH) booked P15.6 billion in net profit at end-September, up 9 percent year-on-year, as the company kept a tighter lid on expenses, while other income made up for the decline in shopping mall and residential development revenues. For the third quarter alone, , flat from the P3.94-billion bottom line seen…
The country’s financial regulators have agreed to streamline their procedures governing mergers and acquisitions in the local banking industry in a bid to expedite the process of consolidation among financial institutions. Initiated by the Philippine Deposit Insurance Corporation, the multi-agency project, which is the first of its kind among financial regulators, aims to harmonize the…
The COVID-19 pandemic is forcing many industries to change the way they think and do business. Amidst the uncertainties, companies are “going digital,” but many have found themselves overwhelmed by new technology and processes. One local agrienterprise, however, found the perfect formula to marry tradition with innovation: by looking to the past to secure the…
External trade jumped by a fourth to $16.5 billion in August not only due to base effects but also to recovering shipments as the domestic and global economies rebounded from their pandemic-induced slump. The Philippine Statistics Authority’s (PSA) latest preliminary data on Tuesday showed a in total trade last August from $13.2 billion a year…
(Second of two parts) Looking at the country’s top business groups, 11 out of 13 delivered better earnings in the first semester compared to last year, and majority of them attained more than half of market analysts’ consensus forecasts for the full year. Metro Pacific Investments Corp. and DMCI Holdings, for instance, delivered in the…
The finished goods churned out by the country’s factories soared 539.7 percent year-on-year in August due to the base effects from lower output amid last year’s stringent lockdowns. The Philippine Statistics Authority’s (PSA) monthly integrated survey of selected industries (Missi) report for August released Thursday showed a dramatic reversal of the 82.2-percent drop in the…