Business

Dominant power distributor Manila Electric Co. (Meralco) has obtained Energy Regulatory Commission (ERC) approval for its P15.5 billion capital expenditures for this year, the company reported to the Securities & Exchange Commission (SEC).

Globe Telecom has sought government help to develop broadband access in the Philippines by investing in internet infrastructure in rural and far-flung areas if the country hopes to achieve its economic development goals and social inclusion of all communities.

The philanthropic arm of the SM group, SM Foundation, has added more scholars under its wings as it sponsors 20 Grades 7 to 12 students at the Sisters of Mary School Girlstown in Bo. Biga, Silang Cavite, one of the campuses of the Sisters of Mary Schools in the Philippines, while SM Foundation chairman Harley Sy added 20 more students …

Asia-Pacific real-estate investment trust (REITs) have built up strong credit foundations that will stand them in good stead to withstand a market shock, Standard & Poor’s (S&P) Global Ratings said in a report.

By Riza Lozada The overall balance-of-payments (BOP) surplus in 2016 is expected to taper off to $2.0 billion from $2.2 billion in the December 2015 projection, the Bangko Sentral ng Pilipinas (BSP) reported. 

By Riza Lozada The initial public offering (IPO) of the Villar Group’s Golden Haven Memorial Park Inc. is ushering in a series of IPOs amid the strong rebound in the stock market on expectations of a stronger economy under President-elect Rodrigo Duterte.

The Travellers International Hotel Group Inc. has alloted up to P10 billion in capital spending this year mainly to complete the construction of the third phase of Resorts World Manila, which includes three hotels and gaming and retail spaces.

Listed Phoenix Semiconductor Philippines Corp. (PSPC) has completed the installation of new DDR4 technology-compliant manufacturing lines in its plant in the Clark Freeport Zone in Pampanga following the renewal of its strategic partnership with Samsung Electronics Ltd.

Top telecommunications firm Globe Telecom has secured the support of the Department of Transportation and Communications (DOTC) to use train stations around the metropolis to host network infrastructure, starting with the Metro Rail Transit Line 3 (MRT-3) stations on Epifanio de los Santos Avenue (Edsa).

Credit-rating firm Fitch Ratings has backed findings of the Bangko Sentral ng Pilipinas (BSP) on the possibility of a real-estate price bubble, as property prices continue to rise amid the rapid improvement in the economy and the business-process outsourcing (BPO) boom.