Latest Business News

Latest Business News in the Philippines.

  • Musk’s Starlink PHL service expected to start in Q1

    Starlink, the satellite internet unit of Elon Musk’s SpaceX, is on track to enter the Philippine market this year, with its broadband service to be introduced within the first quarter, its local partner said in a statement on Friday.  “We are excited to finally introduce Starlink to the Philippine market by Q1 2023,” said Anthony

  • Robinsons Retail posts 26.7% increase in profit

    ROBINSONS Retail Holdings, Inc. (RRHI) recorded a 26.7% increase in its attributable net income to P5.74 billion in 2022 from P4.53 billion the year prior. “The surge in profitability is underpinned by positive contributions from all business segments coming from category mix improvements and operating efficiencies,” the company said in a disclosure to the stock

  • Roxaco Land to launch projects in Batangas, Tagaytay

    A SUBSIDIARY of listed Roxas and Company, Inc. (RCI) will launch real estate projects in the Tagaytay to Nasugbu, Batangas corridor, banking on strong demand and accelerating prices for properties in the area. “Roxaco Land Corp., a subsidiary of (RCI), ushered in 2023 with an aggressive expansion program in its real estate and hospitality units,”

  • SNAP signs supply deal with PetroEnergy units

    RENEWABLE ENERGY company SN Aboitiz Power (SNAP) on Thursday said it signed a power supply deal with PetroGreen Energy Corp. and PetroSolar Corp. for SNAP’s retail electricity supply arm, Magat-Res. “This partnership between SNAP and our companies is a fulfillment of our shared commitment of supporting energy security for the country through renewable energy,” Milagros

  • Wawa-Calawis project to provide 518 MLD in additional water supply

    MANILA WATER Co., Inc. targets to bring an additional 518 million liters per day (MLD) of water supply through the construction of Wawa-Calawis water supply system, the east zone water concessionaire said on Thursday. “Through prioritizing construction of climate-resilient infrastructure in our current and future service improvement plans, we hope to continuously contribute to the

  • Globe subsidiary deploys fiber lines in South Luzon

    GLOBE TELECOM, Inc.’s subsidiary deployed over 133,400 fiber lines as of end-2022 to cover more areas in Luzon. Globe said in a statement on Thursday that a subsidiary of its wholly owned Asticom Group of Companies rolled out the fiber lines in Cavite, Laguna, Batangas, Quezon, Mindoro, Palawan and Bicol. “Asticom, together with all of

  • ACEN unit fully acquires Australia dev’t platform

    ACEN Corp., through its subsidiary ACEN Renewables International (ACRI) has fully acquired ACEN Australia. In a regulatory filing on Thursday, ACEN said ACRI has completed the acquisition of UPC Renewables Asia Pacific Holdings Pte. Ltd. (UPCAPH) shares in ACEN Australia. ACEN, the Ayala-led renewable energy firm, said the second and final tranche of ACRI’s acquisition

  • How PSEi member stocks performed — February 2, 2023

    Here’s a quick glance at how PSEi stocks fared on Thursday, February 2, 2023.

  • Globe, Japan firm to complete subsea cable laying by April

    GLOBE Telecom, Inc. and its partners have commissioned a Japanese company to finish by April the last leg of a submarine cable network that will bring fiber connectivity to remote areas of the country. In a press release on Wednesday, Globe said Japan-based NTT World Engineering Marine Corp. or NTT WE Marine is set to

  • Concepcion Industrial doubles its Q4 net earnings

    LISTED supplier of home appliances Concepcion Industrial Corp. announced on Wednesday that it closed the fourth quarter of 2022 with P60 million in earnings, twice higher than the earlier year, due to higher sales and the recovery of the local currency. “We felt the enduring effect of the pandemic and the economic impact to supply