GLOBAL FINANCIAL
BUSINESS
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- Alternergy reviews investment offers for Tanay wind project March 27, 2023MANILA, Philippines -Three companies have expressed their interest in co-developing renewable energy firm Alternergy’s Tanay Wind Power Project, a top executive said. Alternergy president Gerry Magbanua said the project had garnered “strong interest” from major foreign and local energy firms, including “one of the world’s largest energy companies” based in Europe. “The official letters of […]
- San Miguel slashed water use by nearly 22% in last 6 years March 27, 2023MANILA, Philippines -Conglomerate San Miguel Corp. (SMC) has saved more than 33.8 billion liters of water in the last six years, reducing its use of scarce water across its units by 21.65 percent as part of its “Water for All” initiative. SMC said this was equivalent to the yearly consumption of over 94,000 households, or […]
- Mediation pushed as business dispute resolution mechanism March 27, 2023MANILA — Philippine Exporters Confederation Inc. (Philexport) has partnered with the National Center for Mediation (NCM) to promote mediation as an alternative mode of dispute resolution. Philexport recently signed a memorandum of agreement (MOA) with the NCM, with both parties agreeing to work together to raise awareness of the benefits of alternative dispute resolution (ADR) […]
- Saudi Aramco inks $12.2-B China oil refinery, petrochem complex deal March 27, 2023SINGAPORE -Saudi Aramco signed an agreement with Chinese partners on Sunday for an oil refinery and petrochemical project in northeast China that is expected to start in 2026 to meet the country’s growing demand for fuel and chemicals. The project in Liaoning province’s city of Panjin will be Aramco’s second major refining-petrochemical investment in China […]
- Microsoft threatens to restrict data from rival AI search tools- Bloomberg News March 27, 2023Microsoft Corp has threatened to cut off access to its internet-search data, which it licenses to rival search engines, if they do not stop using it as the basis for their own artificial intelligence chat products, Bloomberg News reported on Friday. The company has told at least two customers that using its Bing search index […]
- Fuel prices rolled back by up to P1.90 per liter March 27, 2023MANILA, Philippines -The month of March will end on a positive note for motorists, as pump prices of gasoline, diesel and kerosene will decline by nearly P2 per liter starting Tuesday, March 28. In separate advisories, local oil firms announced rollbacks in prices of gasoline by P0.85 per liter; diesel by P1.30 per liter, and […]
- Dollar steady as banking crisis fears keep investors jittery March 27, 2023SINGAPORE – The dollar was firm on Monday, while the yen hovered near its seven-week peak as investors assessed moves made by authorities and regulators to rein in worries over the global banking system. The dollar index, which measures the currency against six rivals, was up 0.078 percent at 103.060, having gained 0.5 percent on […]
- Basic Energy opens charging station for e-vehicles along Edsa March 27, 2023MANILA -Basic Energy Corp. has opened an electric vehicle (EV) charging station along one of the country’s busiest thoroughfares as part of its renewable energy transport program. Through its wholly owned subsidiary Basic Energy Renewables Corp. and partner Ecology Energy Corp., the company launched “Basic Recharge Station” at the EcoOil Station along Edsa southbound. “This […]
- Credit Suisse could face disciplinary action, Swiss regulator says March 27, 2023ZURICH – Swiss financial regulator FINMA said it was considering whether to take disciplinary action against Credit Suisse managers after Switzerland’s second largest bank had to be rescued last week by UBS. FINMA President Marlene Amstad told Swiss newspaper NZZ am Sonntag it was “still open” whether new proceedings would be started, but the regulator’s […]
- Oil prices climb in relief rally as banking concerns ease March 27, 2023SINGAPORE – Oil prices climbed in early trade on Monday as concerns over turmoil in the banking sector eased, while comments by Russian President Vladimir Putin over the weekend ratcheted up geopolitical tensions in Europe. Brent crude futures gained 33 cents, or 0.4 percent, to $75.32 a barrel at 0040 GMT. U.S. West Texas Intermediate […]
REAL ESTATE
Inquirer | Real Estate
- RL Commercial REIT profit jumps 162% February 9, 2023RL Commercial REIT Inc. (RCR), the real estate investment trust (REIT) arm of Gokongwei-led Robinsons Land Corp., saw profits surge by 162 percent last year as its asset portfolio grew. In a statement, the company said unaudited net income last year reached P4.4 billion compared to P1.68 billion recorded in 2021. The REIT firm’s asset […]
- Why real estate, REITs make for a good investment July 26, 2022It’s not enough for us to simply scrimp on expenses, especially when the prices of the goods and commodities we buy continue to increase. It’s not enough for us to save. We stretch the muscles of our money. Make them work. Make them grow and make more money. It’s not enough to just invest. It […]
- COVID-19 and the Philippine office space market July 8, 2022The Philippine office space industry is currently in a recovery phase which makes it a “tenant-market” in terms of rent prices. However, as the recession suffered by the industry is not market-driven but an external, artificial shock, the recovery is expected to be faster and the long-term occupancy average of 95 percent might be breached […]
- Tailing the black swan July 8, 2022As the economy further opened, the first half of 2022 looked much better than a year ago. Coupled with seasonal growth fueled by election-related spending, the pent-up and revenge spending helped lift the national economy and increase the level of activities in the real estate market. After hitting the bottom of the market cycle last […]
- Aiming for a strong recovery July 8, 2022We see highly encouraging growth for the office sector in the first half of 2022. With lease transactions now at 379,000 sqm, equivalent to 70 percent of full year 2021, we expect 2022 to exceed the numbers of last year. In fact, the current absorption of 255,000 sqm in the second quarter is the highest […]
- Megaworld eyes P6.5B sales from township in Cavite May 30, 2022MANILA, Philippines—Billionaire Andrew Tan’s Megaworld Corp. is tapping the same design group behind Atlantis The Palm in Dubai and Shangri-La Maldives for a luxury resort-inspired residential project on its 140-hectare Maple Grove township in General Trias, Cavite province. Megaworld said in a statement the company Wimberly, Allison, Tong & Goo would design the 22-hectare Maple […]
- Robinsons Land transfers P5.9B Ortigas building to REIT firm April 22, 2022MANILA, Philippines—RL Commercial REIT Inc. is taking over the P5.9 billion Robinsons Cyberscape Gamma building in the Ortigas business district, which would boost its portfolio and dividend payout to investors. RL Commercial REIT is the real estate investment trust (REIT) of Robinsons Land Corp., the property giant owned by Gokongwei-led conglomerate JG Summit Holdings. RL […]
- MPIC revives real estate ambitions in Landco buyout April 1, 2022Tycoon Manuel V. Pangilinan-led Metro Pacific Investments Corp. (MPIC) has agreed to a takeover of Landco Pacific Corp., the pioneering beach resort developer it tried to sell a decade ago amid a broader shift to more stable and lucrative infrastructure projects. The P430-million deal would boost the water, energy and toll road giant’s stake in […]
- AREIT readies P11.3-B infusion of Cebu assets March 11, 2022Real estate investment trust (REIT) pioneer AREIT Inc. is set to acquire six additional office buildings in Cebu valued at about P11.26 billion from its sponsor, Ayala Land Inc. (ALI), outperforming its goal of doubling its portfolio within two years from its stock market debut. AREIT unveiled a second property-for-share swap with ALI that will […]
- Ovialand plans P1.5-B initial public offering by June March 11, 2022Mass housing developer Ovialand Inc. plans to raise P1.5 billion from a stock market debut by midyear, aiming to play a greater role in filling the country’s massive housing backlog. Ovialand, a partnership between the Olivares family and mass housing veteran Januario Jesus Atencio, plans to offer to the public mostly primary shares, bringing its […]
