Business

By Riza Lozada Twelve power consortia, led by the Lopez group and San Miguel Corp. (SMC), expressed interest to bid for the contract to become the independent power producer administrator (Ippa) of the 200-megawatt (MW) Mindanao coal-fired thermal power plant.

The Philippine National Bank (PNB) posted a net income of P5.5 billion in 2014, reflecting a 5-percent increase from its previous year’s level-despite the challenging conditions in the local financial markets that caused the bank’s trading gains to decline substantially by 72 percent to P1.3 billion.

By Jerry Maglunog When the Bangko Sentral ng Pilipinas (BSP) removed restrictions in opening branches of banks in Metro Manila in July 2014, it changed the competition in unibanking in the country’s main district.

Hong kong—The Hong Kong Special Administrative Region (SAR) government welcomed a cap on trips to Hong Kong by residents of neighboring Shenzhen city and vowed to continue curbing cross-boarder parallel trading.

India’s ministry of finance has decided against imposing safeguard duties on cold-rolled flat stainless-steel products imported from viet nam and some other countries, according to the viet nam competition authority.

By Jerry Maglunog There are 82 airports in the Philippines, but only less than 10 are earning, according to the Civil Aviation Authority of the Philippines (Caap).

The Board of Investments (BOI) focused on industries and jobs intensive industries under the released guidelines for the 2014-2016 Investment Promotions Plan (IPP).

By Riza Lozada Tata Motors Philippines is revving up its bid to become a leading passenger vehicle brand in the country with its Indian bestseller Indigo, which the carmaker claims to be among the most cost- and fuel-efficient cars in the market.

Conglomerate Ayala Corp. is boosting its new portfolio of businesses in power generation and transport infrastructure as it targets ramping up profit to P20 billion at least in the next two years.

The San Fernando Regional Trial Court in La Union sentenced to a maximum of 20 years in prison the manager of a security agency for failing to pay the Social Security (SS) contributions of his security guards.