Property developer Cebu Landmasters Inc. (CLI) will donate to the government of Cebu City a 100-unit medium-rise socialized residential condominium complex to shelter informal settlers who need to be evacuated from calamity-prone areas. The five-story residential project, valued at , will serve as transition housing for informal settlers near rivers, creeks, seas and other danger…
AC Energy Corp. (Acen) along with the Zabaleta group have divested their minority shareholdings in three biomass-fed power projects in the Visayas as part of moves by the Ayala group to concentrate on their core renewable energy projects—solar and wind. The three projects are the 20-megawatt San Carlos BioPower, 25 MW North Negros BioPower and…
Binamira, who has seen his fair share of crises being a management consultant, conserved as much cash as he could, thus the painful but necessary decision to not renew for now the leases for 35 percent of Zubuchon’s branches. After all, movement restrictions as part of measures to contain the virus meant not enough foot…
Tycoon Andrew Tan-led Megaworld Corp. plans to raise as much as P27.3 billion from the sale of a 49-percent stake in a business process outsourcing industry (BPO)-focused real estate investment trust (REIT) called MREIT Inc., which the group is grooming to become Southeast Asia’s largest REIT in terms of portfolio scale. At the maximum size,…
President Duterte’s economic team on Tuesday expressed confidence that the economy will rebound starting the second quarter with mass vaccination in full swing and government spending, especially on infrastructure, remaining strong. During the Economic Journalists’ Association of the Philippines’ (Ejap) midyear forum, Finance Secretary Carlos Dominguez III said “we might appear to be behind our…
A number of foreign companies have signified interest to invest in the country’s offshore mining sector, encouraged by the recent issuance of Executive Order No. 130 that lifted the moratorium on the approval of new mining permits. The Offshore Mining Chamber of the Philippines (OMCP) over the weekend said several investors from at least were…
As a kid, summer meant total freedom from the responsibilities of school, which for me meant climbing trees to pick and enjoy the fruits in season. To this day, bayabas, santol, aratilis and mangga are the comfort foods that I eagerly await each summer. I have always had a close kinship with the outdoors, whether…
Insular Life Assurance Co. Ltd. (InLife) is optimistic that it will sustain the strong growth performance it posted during the first four months under the helm of its newly appointed chief. “Our sales metrics are very encouraging. Our first-trimester results are giving us double-digit growth in agency and group sales,” InLife president and chief executive…
Globe Telecom users traveling to North America can access 5G roaming services in the coming week as the telco giant gears up for the gradual recovery of the travel sector during the pandemic. In a statement on Thursday, Globe said 5G roaming in Canada would be launched on to be followed by the United States…
The COVID-19 pandemic and the resulting lockdowns to contain it have devastated the country’s economy. But even then, there are reasons to be optimistic that the worst is over and that the Philippines can look forward to much better times ahead. To help Filipinos navigate through the crisis, the Philippine Daily Inquirer, the other members…