Latest Business News

SM PRIME HOLDINGS, INC. is investing P3.6 billion to build a convention center in Cebu, betting on rising demand in the province’s MICE (meetings, incentives, conventions and exhibitions) sector, it said in a stock exchange filing on Thursday. The six-storey SMX Convention Center Seaside Cebu will offer 21,000 square meters of leasable space and seating

AIRASIA MOVE has added VietJet Air flights to its platform through a partnership with GalaxyJoy, expanding access to low-cost fares and boosting connectivity for travelers in the Philippines and across Southeast Asia, the AirAsia group’s online travel agency said on Thursday. The integration gives AirAsia MOVE’s 15 million monthly active users access to VietJet’s growing

THE SECURITIES and Exchange Commission (SEC) has approved 16 registration statements for Sta. Lucia Land Inc.’s rental pool program, allowing the developer to offer units as investment contracts while retaining ownership. The SEC en banc cleared the issuance of 2,382 certificates of participation covering 2,101 studio units priced at P70,000 each, 150 one-bedroom units at

MEGAWORLD CORP.’S hospitality unit has teamed up with French hotel operator Accor SA to rebrand the Grand Westside Hotel in Parañaque City as the world’s biggest Mövenpick property, the listed developer said on Thursday. The 19-story, two-tower property within Megaworld’s 31-hectare Westside City township is set to open as Mövenpick Manila Bay Westside by late

CEBU-BASED Vivant Corp. has obtained a P3-billion three-year term loan from China Banking Corp. (Chinabank) to refinance maturing debt and support its power and water projects, the company said on Thursday. Vivant, which operates in power generation, distribution and retail electricity, is also expanding into water supply, wastewater treatment and desalination. Its projects include a

INTERNATIONAL Container Terminal Services, Inc. (ICTSI) is set to assume full operations of the North Pier at Batu Ampar Port in Indonesia by Dec. 1 through its unit Batu Ampar Container Terminal (BACT). In a statement on Thursday, ICTSI said BACT, Interport Mandiri Utama and PT Batam Terminal Petikemas were designated as the sole operators

MANILA ELECTRIC CO. (Meralco) will retire the remaining P2.87 billion of its P7-billion 12-year bonds next month, it said in a stock exchange filing on Thursday. The notes, part of Meralco’s P18.5-billion fixed-rate issuance in 2013, will mature on Dec. 12. The 12-year tranche carries a 4.875% annual coupon. Bondholders redeemed P4.13 billion early in

PHINMA St. Jude College Dasmariñas Cavite is rolling out a slate of campus upgrades — including a computer lab, modern library and a mock hospital — as it accelerates its transition into the PHINMA Education Network. The facilities are slated to be fully operational by the third quarter of 2026, the group said in an

LISTED developer Haus Talk, Inc. (HTI) said it aims to complete The Hammond, its latest housing development in Antipolo, Rizal by next year. The 1.6-hectare project in the village of Hinapao features 143 two-storey townhomes. HTI completed a 13.6-hectare property acquisition from National Steel Corp. earlier this year for the development. Units are priced competitively,

LISTED DigiPlus Interactive Corp. (PLUS) has partnered with self-service kiosk provider Pay&Go to simplify e-wallet funding for its players. The deal allows users to load funds through BTI Payment Philippines’ 3,500 Pay&Go kiosks, with a cash-out feature set for early next year, initially for BingoPlus and later expanding to ArenaPlus and GameZone, it said in