Business

THE Philippine Competition Commission has approved the acquisition of the Caliraya-Botocan-Kalayaan (CBK) hydroelectric power plant complex by the Thunder Consortium, Aboitiz Power Corp. (AboitizPower) has announced. The company told the Philippine Stock Exchange (PSE) that it had been informed of the development by subsidiary Aboitiz Renewables Inc., which is a member of the consortium along with Sumitomo Corp. and Electric …

As mindful travel continues to shape the future of tourism, Megaworld Hotels & Resorts (MHR), the largest hotel operator in the Philippines, is embracing the movement with the launch of MEGreen Mindful Stays, which is a unified sustainability stay program designed for today’s rising breed of conscious travelers who seek meaning and positive impact in every journey. “At Megaworld Hotels …

MGEN, through its subsidiary Atimonan One Energy, Inc., plans to develop a 1,200-MW ultra-supercritical pulverized coal-fired power plant in Quezon. By next year, the power generation arm of Manila Electric Co. (Meralco), plans to secure offtake for the capacity of its planned 1,200-megawatt (MW) coal-fired power project in Quezon province. MGEN President and Chief Executive Officer Emmanuel V. Rubio said …

Airstream Renewables Corp., a subsidiary of listed NexGen Energy Corp., is allocating $2.5 billion (P146 billion) to develop onshore wind farms with a total capacity of 1.7 gigawatts (GW). The move follows the award of three wind energy service contracts from the Department of Energy (DoE), NexGen said. The wind projects include a 600-megawatt (MW) Pangasinan wind farm, a 600-MW …

By DIEGO C. CAGAHASTIAN Governor Eli Remolona Jr. of the Bangko Sentral ng Pilipinas (BSP) tried his hand at financial diplomacy in the international stage, with his plan to make regional financial health a focus for the Association of Southeast Asian Nations (Asean) next year. Remolona said the Bangko Sentral wanted to play an active role in setting Southeast Asia’s …

Government officials especially the economic team of President Bongbong Marcos were happy to report that the inflation rate in November was down to 1.5%, a tiny improvement from October’s 1.7%, according to the Philippine Statistics Authority (PSA). The PSA pointed out that the latest inflation rate figure is lower compared to the same month in 2024, which was 2.5%. In …

The banking industry is robust, and retail investors, businesses and individual consumers are availing themselves with affordable loans from the banks. This bodes well for a growing economy, even if saddled with various political woes. The Bangko Sentral ng Pilipinas (BSP) has released its preliminary data showing bank lending continued to expand in October, driven by steady credit demand from …

The 28-day Bangko Sentral ng Pilipinas bill (BSPB) registered a lower yield in this week’s auction as investors continued to show strong appetite for short-term securities, the BSP reported Friday. In a statement, the central bank said the weighted average interest rate (WAIR) for the 28-day tenor fell by 6.45 basis points week-on-week to 4.9461 percent. The BSP kept the …

The Philippine Charity Sweepstakes Office (PCSO), on Monday, topped the Governance Commission for GOCCs (GCG) performance evaluation award, highlighting the agency’s superlative performance score of more than 100% for 2024. At the awards ceremony for Government Owned and Controlled Corporations (GOCCs) organized by GCG at the City of Paranaque, PCSO surpassed other top-ranking GOCCs recognized for exemplary performance, demonstrating the …

SM Foundation leverages technology to help transform healthcare in communities For decades, community health centers survived on paper. Handwritten charts, overstuffed logbooks, and filing cabinets formed the backbone of daily operations. Although the paper system had long been serviceable, it slowed health professionals: locating one patient record could take several minutes, missing charts derailed schedules, and limited storage left staff …