FIRMS considering domestic vaccine manufacturing will need faster processing and government procurement priority, the Department of Trade and Industry (DTI) said. DTI Secretary Ramon M. Lopez, in a briefing on Thursday night, named four firms eyeing local production of vaccines, including coronavirus disease 2019 (COVID-19) vaccines. “(The companies) will subscribe to all requirements and submit […]Read More

AN OFFICIAL from listed Manila Water Co., Inc. said on Friday its revised concession agreement (CA) with the government is an important milestone for the firm, adding the contract took more than a year to negotiate. “This important milestone is a culmination of several months of hard work and discussion with several key government agencies […]Read More

A SENATOR on Friday asked the Energy department to explain its decision allowing the transfer of the 45% stake of Chevron Philippines, Inc. in the Malampaya gas-to-power project to a unit of Udenna Corp., citing irregularities in the transaction. Senator Sherwin T. Gatchalian, chair of the Senate Committee on Energy, said UC Malampaya Pte. Ltd.’s […]Read More

THE COUNTRY’S dollar reserves decreased to $104.82 billion as of March as the government serviced its maturing debt obligations, the Bangko Sentral ng Pilipinas (BSP) reported on Friday. Gross international reserves (GIR) inched down by 0.32% as of March from the $105.161 billion seen at end-February, based on preliminary data released by the central bank […]Read More

THE BANGKO SENTRAL ng Pilipinas (BSP) raised P90 billion as planned from its auction of short-term securities on Friday, as rates slipped, reflecting lower US benchmark yields. The BSP made a full award of the 28-day bills as the offering was oversubscribed by 1.46 times, with demand hitting P131.976 billion. The total tenders also surpassed […]Read More

THE PESO climbed against the greenback on Friday on the government’s decision to include frontliners from the financial services industry in the priority groups for the country’s vaccination drive. The local unit closed at P48.38 per dollar on Friday, appreciating by six centavos from its P48.44 finish on Thursday, data from the Bankers Association of […]Read More

Listed mining firm Global Ferronickel Holdings Inc. (FNI) reported a 43% rise in profit in 2020, thanks to higher nickel ore prices in the world market. In a press release, FNI said its net income stood at P1.86 billion last year, driven by a 9.1% increase in revenues to P7.26 billion. “Nickel ore shipments went […]Read More

https://www.gfni.com.ph DITO Telecommunity Corp. expanded its services to 21 more cities on Friday, adding the provinces of Laguna and Cavite to its network, the company said. The country’s third telco player started commercial operations in 15 cities in Visayas and Mindanao on March 8, with plans to expand to nationwide availability by June. The expansion […]Read More

Listed convenience store operator Philippine Seven Corp. (PSC) reported its net income dropped by 78% to P165.6 million in the fourth quarter, and ended the year with a P419.7 million net loss due to the impact of lockdown restrictions. In a disclosure to the stock exchange, the operator of 7-Eleven stores in the Philippines said […]Read More

Chelsea Group’s MV Trans-Asia 21 is a brand-new vessel built in Japan. Courtesy of Chelsea Logistics and Infrastructure Holdings Corp. Chelsea Logistics and Infrastructure Holdings Corp. is seeking “meaningful” profits from its new roll-on/roll-off passenger (RoPax) vessel that completed sea trials in Japan this week. Davao-based businessman Dennis A. Uy’s Chelsea Logistics in a press […]Read More