Latest Business News

PETRON CORP., the country’s sole oil refiner, said it has secured 2.48 million barrels of crude oil from Russia to boost its petroleum product inventory until June. In a statement on Monday, Petron said it may consider buying Russian crude again if the fuel supply disruption persists and it cannot source sufficient crude from other

MTERRA SOLAR, the world’s largest battery-integrated solar power project, has begun exporting an initial 250 megawatts (MW) to the grid, Meralco PowerGen Corp. (MGEN) said. In a statement on Monday, MGEN said MTerra Solar has also energized the first tranche of its battery energy storage system, allowing the plant to deliver up to 450 megawatt-hours

THE SECURITIES and Exchange Commission (SEC) said it will stand its ground on its nine-year term limit for independent directors, as it considers its response to a petition challenging the rule, which it said is meant to raise governance standards and restore investor confidence. “We will stand our ground. Our people clamor against political dynasties

DOMINION Holdings, Inc. (DHI) said it has appointed Isidro A. Consunji as chairman of the board. The appointment followed the board’s acceptance of former chairman Frederic C. Dybuncio, who will remain as company president, the company said in a disclosure to the stock exchange on Monday. Mr. Consunji has served as chairman and president of

ABS-CBN CORP. said it is not a party to a dispute involving the Lopez family and described reports of a proposed P2-billion capital infusion and alleged executive payouts as baseless. The company issued the statement following reports of a dispute involving businessman Federico R. Lopez, who filed a lawsuit over his ouster as president and

FLAG CARRIER Philippine Airlines (PAL) said it is suspending its Manila-Riyadh flights until April 8 due to the conflict in the Middle East. “This precautionary measure is being taken considering the security situation affecting parts of the Middle East and the resulting operational uncertainties in certain regional airspace corridors and airport operations,” it said in

LISTED construction supplies retailer Wilcon Depot, Inc. said its net income fell by 3.24% to P2.45 billion in 2025 from P2.53 billion a year earlier, as higher operating expenses and lower other income offset sales growth. Net sales rose 3.7%, or P1.27 billion, to P35.44 billion, the company said in a disclosure to the stock

SAAVEDRA-LED Citicore Renewable Energy Corp. (CREC) said its net income rose by 14% to P1.15 billion in 2025, driven by higher revenue and lower costs. Consolidated revenues grew by 3% to P5.32 billion, supported by stronger electricity sales, the company said in a statement on Monday. Earnings before interest, taxes, depreciation, and amortization (EBITDA) increased

OCEANAGOLD (Philippines), Inc. said the operational life of the Didipio gold and copper mine in Northern Luzon has been extended to 2037 following an updated mine plan based on recent exploration results. In a disclosure on Monday, the listed miner said updated mineral resource estimates indicate that Didipio’s open-pit stockpiles will be exhausted by 2032,

PHILWEB CORP. said it has obtained accreditation from the Philippine Amusement and Gaming Corp. (PAGCOR) as a gaming affiliate and support service provider, allowing it to offer technology and operational services to licensed operators within PAGCOR’s regulated ecosystem. “This is a pivotal stage for the industry as it moves toward a more structured and transparent