Latest Business News

Latest Business News in the Philippines.

  • Monzon: PSE still bullish on IPO goals this year despite CREC’s delay

    THE PHILIPPINE STOCK Exchange (PSE) remains optimistic about achieving its target of six initial public offerings (IPOs) this year despite one company set to go public in the first quarter delaying its listing, its top official said.

  • SMIC eyes more opportunities in provincial areas for core businesses

    SM INVESTMENTS Corp. (SMIC) sees growth opportunities in provincial areas for its core businesses, the company’s president said. “Each of our core businesses will continue to grow, particularly in the provincial areas, whether it be the banking, the property, or the retail. But more importantly, our portfolio companies are where we feel the high-growth sectors

  • CLI eyes increased capex budget for 2024

    CEBU LANDMASTERS, Inc. (CLI) is eyeing to increase its capital expenditure (capex) budget this year to fund the company’s major projects, its president said. “Our capex should be in the region of about last year’s; we were at P13 billion. For 2024, we have not concluded that yet, but it will be higher. We are

  • D&L Industries net income down 31% in 2023

    LISTED oleochemicals and specialty food ingredients manufacturer D&L Industries, Inc. logged a 31% decline in its 2023 net income to P2.3 billion from P3.32 billion in 2022 due to high interest and depreciation expenses associated with the company’s Batangas manufacturing plant as well as inflation. In a regulatory filing on Thursday, D&L Industries said its

  • PXP Energy to pursue talks with gov’t on petroleum exploration

    PANGILINAN-LED PXP Energy Corp. said on Thursday that it would continue to coordinate with the government to resume exploration activities at petroleum blocks in the West Philippine Sea. “Each of PXP Energy Corp. and Forum Energy Ltd. will continue to coordinate with the government on the possible resumption of activities in both SC (service contract)

  • MREIT distributable income hits P2.8 billion

    MEGAWORLD Corp.’s MREIT, Inc. said on Thursday that it recorded a 13% jump in its distributable net income to P2.8 billion last year from P2.5 billion in 2022 due to higher revenues. The Tan-led real estate investment trust company saw a 14% increase in revenues to P4.2 billion, led by the full-year contribution of four additional Grade-A

  • IMI, Lithos Energy seal manufacturing partnership

    AYALA-LED INTEGRATED Micro-Electronics, Inc. (IMI) has partnered with US-based lithium-ion battery systems manufacturer Lithos Energy, Inc. to produce electronics systems for the latter’s battery products in the Philippines. In a statement on Thursday, IMI said that mass production of the electronics systems for Lithos Energy’s battery products is projected to begin by the fourth quarter. “We look

  • AyalaLand Logistics sees higher revenue for 2024 with project milestones

    AYALALAND LOGISTICS Holdings Corp. (ALLHC), a subsidiary of Ayala Land, Inc., announced on Thursday that it anticipates completing at least four projects within the year, aiming to boost the company’s revenue. “ALLHC will further augment growth with the construction of a warehouse facility in Metro Manila, a cold storage facility in Luzon, and two more in the Visayas,

  • P26-B Wawa dam project nears completion

    THE Upper Wawa Dam project is now 93% complete, according to its developer WawaJVCo, Inc., expecting to provide approximately 710 million liters per day (MLD) of water by the end of 2025. “With its substantial capacity and innovative design, the dam holds immense potential to enhance water security and resilience, which will be a massive

  • MGreen unit breaks ground on Nueva Ecija solar project

    GREENTECH Solar Energy, Inc. (GSEI) has broken ground on a new solar power plant in Bongabon, Nueva Ecija, which is expected to generate 18.75 megawatts alternating current (MWac) of power, its parent company said on Thursday. The solar project is expected to deliver power by the first quarter of 2025, MGen Renewable Energy, Inc. (MGreen)