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Car Sales Plunges by 23%

According to the Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI), vehicles sales dropped by 23% in the month of September this year, from 31,820 units sold last year, to only 24,523 this year. During a nine-month duration, 148,012 units have been sold, 44% lesser than last year’s 267,364 units. CAMPI however, remains optimistic […].....»»

Category: newsSource: metrocebu metrocebuOct 14th, 2020

Nissan downgrades forecasts as 9-month net profit plunges

YOKOHAMA, Japan – Crisis-hit Japanese automaker Nissan said Thursday, February 13, its net profit plunged more than 87% for the 9 months to December as it struggles with weak demand and fallout from the arrest of former boss Carlos Ghosn . Nissan revised downwards its full-year sales ........»»

Category: newsSource:  rapplerRelated NewsFeb 13th, 2020

Puregold& rsquo;s income rose 4% to P5.05b in first nine months

Grocery chain operator Puregold Price Club Inc. said Wednesday nine-month net income rose 4.1 percent to P5.05 billion from P4.55 billion in the same period last year on the back of a double-digit growth in sales......»»

Category: financeSource:  thestandardRelated News7 hr. 30 min. ago

Pandemic cuts auto sales across ASEAN

The coronavirus pandemic drastically reduced local vehicle and motorcycle sales and production across the Association of the Southeast Asian Nations, an industry group said Tuesday......»»

Category: financeSource:  thestandardRelated NewsOct 27th, 2020

Converge price plunges upon debut

Converge Information and Communications Technology Solutions Inc. successfully made its debut in the stock market yesterday, raising P29.1 billion, including shares for over-allotment, marking the largest-ever initial public offering in the country......»»

Category: financeSource:  philstarRelated NewsOct 26th, 2020

Emperador net income up to P5.9 billion

Emperador Inc., the listed Andrew Tan-led brandy company, grew its nine month net income to P5.9 billion, buoyed by strong international sales of its brandy and whisky products......»»

Category: financeSource:  philstarRelated NewsOct 26th, 2020

Emperador books P5.9b in earnings

Liquor producer Emperador Inc. said Monday net income in the first nine months rose 11 percent to P5.9 billion from a year ago on higher international sales......»»

Category: sportsSource:  abscbnRelated NewsOct 26th, 2020

Meralco& rsquo;s core earnings declined 15% to P15.7b in three quarters

Power retailer Manila Electric Co. said Monday it posted a core net income of P15.7 billion in the first three quarters, down 15 percent from P18.5 billion in the same period last year, as energy sales declined 7 percent......»»

Category: sportsSource:  abscbnRelated NewsOct 26th, 2020

Coke PH expands Balik Pinas program for repatriated OFWs

Coca-Cola Beverages Philippines, Inc. (CCBPI)—the bottling arm of Coca-Cola in the country—has expanded its Balik Pinas program to national scale to reach more repatriated overseas Filipino workers (OFWs) and help them start their own business at home. Gareth McGeown, CCBPI President and CEO. “Coca-Cola’s commitment to Filipinos has only grown stronger, in weathering this crisis together,” said Gareth McGeown, CCBPI President and CEO. “We will help and support where we can. Through Balik Pinas, our goal is to help repatriated OFWs who have lost their livelihood abroad to start anew, via owning and operating their own business and be successful here, at home, with their families.” With the help of the Department of Labor and Employment (DOLE), CCBPI aims to reach more OFWs who are interested to start their own business through Balik Pinas. Data from the Department of Foreign Affairs show that as of September 2020, over 190,000 overseas Filipino workers have been repatriated. Balik Pinas gives opportunities to OFWs to be part of the Coca-Cola family as a distributor, wholesaler, or a community reseller. Balik Pinas is a journey that the company and new entrepreneurs take together at every step—from setting up the business, to sustaining it, to ensuring growth. Coca-Cola assists former OFWs in choosing a suitable business model for their area, helps in managing their cash flow and inventory, and sees to it that they are given proper guidance and training until they are fully ready and equipped to operate on their own—all in all, a sustainable and profitable business founded on practical support from a global beverage brand. According to Carlos Rivera, CCBPI Territory Sales Team in Naga City, the Balik Pinas Program started as a small-scale initiative in Naga City to help former OFWs. Just a couple of months after returning home, Carlos Manzano and his family was able to set up their business as Coca-Cola distributor through the Balik Pinas Program, which Carlos said has reshaped his life and outlook forever. IN PHOTO: Carlos and their family’s multi-cab routing unit with the Coca-Cola Naga Sales team. When the program’s pilot rollout started, the Manzanos—brothers Carlos and Jazz, and their father Lito—were among the pioneer members. Carlos and Jazz had both been working for several years in Qatar until the COVID-19 pandemic shook the trajectory of their career and, consequently, the well-being of their families. Together with their father, Lito, who also used to be an overseas worker, they set up a beverage distribution business in their hometown Naga City. Their optimism, as with any new business venture, was tempered with anxiety over how it would all turn out—especially with the considerable challenge of launching during such tenuous times until Rivera offered them membership to the Balik Pinas Program of Coca-Cola. Now, the Manzanos are running a profitable business as Coca-Cola distributors. “Even when I had to leave Qatar suddenly because of the lay-offs, I always envisioned that I would head back to work there when things settle. But with Coca-Cola’s Balik Pinas, I have a livelihood that doesn’t take me away from my family as being an OFW had,” said Carlos.  Lito can still remember his first order of 60 cases of Coke products. Now, the Manzano  family business has grown to an average of 4,000 cases a month, just five months after they started—a feat magnified for it being in the middle of a pandemic and strict quarantine measures. The Manzanos have also since invested in routing units to augment their business’s capabilities—a multicab and a tricycle. Since starting his business in 2019, Billy Belleza (left), is now one of the prominent Coca-Cola distributors in his area and has added another mini truck to serve more routes and deliveries. Billy is one of the pioneers of Coca-Cola’s Balik Pinas program. Another Balik Pinas program pioneer member is Billy Belleza who decided to return to the country after working for 20 years in Brunei. “I am really thankful that Coca-Cola reached out to me to be a part of this. They have never failed to present opportunities for me and my business to grow since I decided to take part in the Balik Pinas Program. My sales actually soared this year,” said Belleza, who is also based in Naga City. According to Rivera, Balik Pinas Program was really designed for returning OFWs like Billy, Carlos, and Jazz and their families to set up and run a viable business at home. “With their success and in light of current events, this program was expanded to operate on a national scale, so the company can lend assistance to repatriated OFWs and their families as they weather through new challenges brought on by the pandemic,” Rivera said. Coca-Cola has consistently sought to create programs to support MSMEs, more so now with the COVID-19 pandemic having disrupted countless lives and livelihoods. With programs like Balik Pinas, Coca-Cola remains firm in their commitment to help local communities, contributing to the restart of the national economy—by way of reaching out to Filipinos.  To know more about the program, you may reach Coca-Cola’s contact center at (02)-8813-COKE (2653). For SMART/PLDT users: toll-free number: 1800-1888-COKE (2653); and for GLOBE users: toll-free number: 1800-8888-COKE (2653). You may also contact 0919-160-COKE (2653) via SMS......»»

Category: lifestyleSource:  abscbnRelated NewsOct 24th, 2020

Pawod

Nipa workers load a truck with “pawod” (nipa shingles) in Barangay Lobogon in Del Carmen town, Siargao Island on Friday afternoon, October 24, 2020. Demand for nipa roofing has increased due to the rainy season but it is not enough to make up for their losses due to COVID-19. Nipa sales at 10 pesos a […].....»»

Category: newsSource:  mindanewsRelated NewsOct 24th, 2020

Universal Robina improves profits even as snack sales tempered

Investors appeared to be satisfied with the latest financial results. On Friday, shares in Universal Robina gained 1.21% to end the week at P141.70 each......»»

Category: newsSource:  philstarRelated NewsOct 23rd, 2020

2021 Cebu City budget needs to source funds from SRP — Garcia

CEBU CITY, Philippines — Cebu City’s P10.8 proposed 2021 budget may be partly sourced from the proceeds of the sales from the 2015 sale of the lots in the South Road Properties  or the SRP. Councilor Raymond Garcia, chairperson of the City Council’s committee on budget and finance, said in a press conference on October […] The post 2021 Cebu City budget needs to source funds from SRP — Garcia appeared first on Cebu Daily News......»»

Category: newsSource:  inquirerRelated NewsOct 23rd, 2020

Rockwell eyes P6.7-b sales in Angeles City

Rockwell Land Corp., the real estate arm of the Lopez Group, said Wednesday it is developing a residential complex and a shopping mall in a 3.6-hectare property in Angeles City, Pampanga that will generate P6.7 billion in sales......»»

Category: financeSource:  thestandardRelated NewsOct 22nd, 2020

EXCLUSIVE: Slapshock scandal: Lee Nadela talks, Jamir Garcia keeps mum

The scandal that was Slapshock lead singer Jamir Garcia being accused of unauthorized cash withdrawals from the band’s royalties from digital sales of songs, as well as misappropriation of talent fees belonging to Slapshock guitarist Jerry Basco, has led to the band’s breakup and a lawsuit filed against Garcia. When the Daily Tribune broke the […] The post EXCLUSIVE: Slapshock scandal: Lee Nadela talks, Jamir Garcia keeps mum appeared first on Daily Tribune......»»

Category: newsSource:  tribuneRelated NewsOct 22nd, 2020

Pryce earnings rise to P1.22 billion

Pryce Corp. posted a minimal increase in its net income in the three quarters of the year to P1.22 billion, driven by sales of liquefied petroleum gas......»»

Category: financeSource:  philstarRelated NewsOct 21st, 2020

No Christmas parties, only mall sales

Major store establishments all over the country led by the popular ShoeMart and the Ayala chain of malls have already dressed up their facades for the Yule season sales ahead......»»

Category: newsSource:  philstarRelated NewsOct 20th, 2020

Nespresso sees growth on strong home coffee consumption

The exclusive distributor of Nespresso in the country is eyeing sales growth this year and next year as the pandemic increases consumption of coffee at home......»»

Category: financeSource:  philstarRelated NewsOct 18th, 2020

Community bakeries lose 30% of sales in lockdown period

A group of community bakers said over the weekend they lost about 30 percent of sales in the first few months of the pandemic as a result of border restrictions and lockdown......»»

Category: financeSource:  thestandardRelated NewsOct 18th, 2020

Electric cooperatives’ sales revenues up 9% to P54.074-B

Despite the continued wreck of the coronavirus pandemic, the higher electricity usage of consumers had jacked up the overall revenues of the country’s electric cooperatives within April-June this year to P54.074 billion, higher by 9.0-percent from P49.672 billion in the first quarter. The energy sales specifically had escalated by 12-percent in the second quarter of this year, according to the National Electrification Administration (NEA), and that was because of the residential end-users who were mostly confined in their homes at the height of the lockdown period which straddled the months of April and May. NEA stated that based on the statistical report of its Information Technology and Communication Services Department (ITCSD), the nationwide aggregate sales of the ECs climbed to 5,988 gigawatts hours (GWh) within April-June stretch versus the leaner 5,337 GWh in the first quarter. “This was due to the 9.0-percent increase in electricity consumption by the residential sector,” NEA Edgardo R. Masongsong has emphasized. In particular, household end-users posted 3,693 GWh power consumption in the second quarter due to the scorching weather during the summer months; while it was at lower 2,806 GWh in the relatively colder periods of January to March. However, the outcome was a reverse in the commercial sector because the health crisis forced many businesses to either close or reduce operations especially within the March-May duration of the enhanced community quarantines (ECQ) in various parts of the country. The electrification agency pointed out “the pandemic restrictions pushed the energy sales in the commercial sector to fall by 6.0-percent from 1,165 GWh to 982 GWh.” Within the industrial segment of end-users, this was likewise down by 3.0percent to 957 GWh from a heftier consumption of 1,000GWh in the initial quarter of the year. Further, the power usage of public buildings and other consumers had been slightly down by 1.0-percent to 356GWh from 366GWh. Masongsong particularly highlighted that “sales and revenues of power cooperatives operating in Aklan, Benguet, Palawan, Bohol and Siargao island, which are highly dependent on tourism, fell sharply in the second quarter as a result of the community quarantines imposed in these areas.” Of all the service areas of the ECs, NEA noted that Aklan Electric Cooperative (AKELCO) logged the biggest downturn in energy sales at 20-percent, which could be equivalent to P149 million in unrealized revenues. Another power utility which registered sizeable two-digit sales decline of 18-percent had been Benguet Electric Cooperative (BENECO), and that redounds to P145 million revenue loss. For Palawan Electric Cooperative (PALECO), its energy sales had been down by 9.0-percent or equivalent P53 million loss; Bohol Electric Cooperative (BOHECO) sales fell 6.0-percent or a resulting loss of P50 million; and Siargao Electric Cooperative Inc. (SIARELCO) had its sales trimmed by 8.0-percent and that was tantamount to revenue loss of P7.0 million......»»

Category: lifestyleSource:  abscbnRelated NewsOct 18th, 2020

Honda set to unveil all-new City model in Philippine market

Honda Cars Philippines, Inc. (HCPI) is set to release the All-New Honda City targeting total sales of more or less 1,800 units combining the current and the All New City model for the remaining months of the year. HCPI Vice President Louie Soriano said they expect to sell more or less 1,800 units for both old and new City models for the remaining 3 months. From January to October this year, HCPI Honda City’s sales reached over 2,000 units. Among the models in its segment, the Honda City is currently at third place. Since the start of 2020, the Honda City is HCPI’s second best-selling model in its lineup. First is Honda Brio and third is Honda BR-V. “Our target market for the All-New City are the Sporty and Premium Seeker who are career driven, business minded, and those who are looking for a stylish and sporty sedan,” said Soriano. Interested customers may already inquire and reserve the All-New Honda City any of the 34 Honda Car Dealerships nationwide starting today, October 15, 2020. The all-new model will be available in the local market on October 22, 2020, as part of its month-long celebration of its 30th anniversary. This 5th generation of Honda City – the revamped best-selling sedan in HCPI’s model lineup now comes with new variant names and includes a new color. The All-New Honda City will soon be available with the following colors: Ignite Red Metallic (new color; 1.5 RS CVT, 1.5 V CVT, and 1.5 S CVT); Modern Steel Metallic; Platinum White Pearl (new color; 1.5 RS CVT and 1.5 V CVT only); Crystal Black Pearl; Lunar Silver Metallic (1.5 V CVT and 1.5 S CVT only); and, Taffeta White (1.5 S CVT and 1.5 S MT only). The company also announced that from October 15 to December 31, 2020, all current Honda owners who will refer an All-New City buyer will receive P5,000 worth of e-gift certificates upon every successful referral. Interested referrers may visit www.hondaphil.com/promos/referral-program for more information. The current generation of the Honda City, launched in May 2017, revolves around the grand concept of “Advanced Energetic Smart Star”. It exhibits a high-tech and sporty design, class-leading fuel efficiency and comfort, and above class safety that provide customers with the smartest ownership experience......»»

Category: lifestyleSource:  abscbnRelated NewsOct 18th, 2020

Wall Street ends mixed, tech shares see late selloff

NEW YORK (AFP) — US stocks ended the week mixed on Friday as optimism over positive economic data was tempered by a soaring US deficit and the growing realization a new stimulus package is unlikely anytime soon. Better-than-expected retail sales data and consumer confidence showed Americans remain willing to spend — for now — and […] The post Wall Street ends mixed, tech shares see late selloff appeared first on Daily Tribune......»»

Category: newsSource:  tribuneRelated NewsOct 17th, 2020