DOLE fears job losses, seeks P2 billion aid

As many as 40,000 workers in Metro Manila could lose their jobs while more than 100,000 “no-work, no-pay” employees will lose income during the lockdown that begins Friday, Labor Secretary Silvestre Bello III said Wednesday as his department sought an additional budget of P2 billion for a one-time cash assistance program......»»

Category: newsSource: thestandard thestandardAug 4th, 2021

PAL incurs loss of P73 billion in 2020

Flag carrier Philippine Airlines seeks to improve its financial condition and restore its ability to service financial obligations through a financial restructuring plan after it joined major carriers in the region in incurring massive losses last year......»»

Category: financeSource:  philstarRelated NewsJun 18th, 2021

An ‘eco-disaster’ waiting to happen

The editorial headline by the Philippine Daily Inquirer on July 22, 2021 said it all. The “monumental eco-disaster” waiting to happen is the P23-billion, 174-hectare reclamation project that the city of Dumaguete plans to build on the entire seafront of this gentle city by the bay. The project seeks to transform the seaside site into […] The post An ‘eco-disaster’ waiting to happen appeared first on Cebu Daily News......»»

Category: newsSource:  inquirerRelated NewsAug 13th, 2021

LT Group income plunges 63% in H1

Lucio Tan’s LT Group Inc. reported a first half net income of P3.73 billion, down by 63 percent from P10.03 billion a year ago, weighed down by higher provisioning for credit losses of banking arm Philippine National Bank......»»

Category: financeSource:  philstarRelated NewsAug 11th, 2021

Napocor seeks to recover P1.7 billion from customers in missionary areas

The National Power Corp. seeks to recover nearly P1.7 billion from customers in missionary areas for the operational costs incurred in the delivery of power to off-grid areas......»»

Category: financeSource:  philstarRelated NewsAug 8th, 2021

NEDA revises projected lockdown losses to P150 billion a week

The Philippine economy will lose at least P150 billion per week as Metro Manila and other areas are placed under the strictest quarantine measure as the country grapples with the expected spread of the more transmissible COVID-19 Delta variant......»»

Category: newsSource:  philstarRelated NewsAug 7th, 2021

UnionBank profit surges to P8.3 billion in first half

Union Bank of the Philippines almost doubled its profit to P8.31 billion in the first half from the revised P4.27 billion in the same period last year on the back of the double-digit growth in revenues and a sharp drop in provision for potential loan losses arising from the COVID-19 pandemic......»»

Category: financeSource:  philstarRelated NewsJul 26th, 2021

NGCP seeks ERC approval for interconnection project

The National Grid Corp. of the Philippines is seeking regulatory approval to build two interconnection projects worth over P22 billion......»»

Category: financeSource:  philstarRelated NewsJul 23rd, 2021

Co’s The Keepers raising P7.5 billion from follow-on offer

Retail tycoon Lucio Co is going full blast with his liquor business as it seeks to boost its war chest for expansion......»»

Category: financeSource:  philstarRelated NewsJul 15th, 2021

Lawmaker says P1.3 billion pork tariff losses could have gone to farmers, fight vs ASF

The P1.3-billion foregone revenue from imported pork tariff could have gone to fighting the African swine fever (ASF) and helping small farmers and entrepreneurs, according to a lawmaker......»»

Category: financeSource:  philstarRelated NewsJul 9th, 2021

Petron seeks SEC OK to issue P18 billion bonds

Petron Corp., the country’s only oil refiner, is seeking regulatory clearance to issue P18 billion fixed-rate bonds out of its proposed P50-billion shelf registration......»»

Category: financeSource:  philstarRelated NewsJul 6th, 2021

Government readies P9 billion fund for fresh cash dole outs

The government plans to use the nearly P9 billion borrowed funds from Japan to bankroll its remaining obligations in responding to the financial difficulties brought about by the recent revert to lockdown......»»

Category: financeSource:  philstarRelated NewsJun 23rd, 2021

PAL parent on final stages of restructuring as loss mounts to P73 billion

PAL Holdings Inc., the listed operator of flag carrier Philippine Airlines, widened its losses to P73 billion in 2020, as the pandemic brings the entire aviation industry on its knees......»»

Category: financeSource:  philstarRelated NewsJun 17th, 2021

Bill seeks harsher punishment for wildlife poachers, traders

Harsher penalties for wildlife poaching and trading may soon be imposed in the country if Congress passes a bill cracking down on the P50-billion a year industry......»»

Category: newsSource:  philstarRelated NewsJun 5th, 2021

Index recovers, nears 6,200 as Wall St rallies

Stocks yesterday recovered its losses the previous day as risk appetite returned following a rally in Wall Street overnight amid lessening fears about inflation-driven rate hikes, traders said......»»

Category: financeSource:  philstarRelated NewsMay 25th, 2021

Money for implementation-ready projects to stay as gov t seeks funds for Bayanihan 3

Funds for high-impact state projects would be left untouched in the search for cash to finance a new pandemic relief bill, which could cost the government P405.6-billion in additional spending......»»

Category: financeSource:  philstarRelated NewsMay 24th, 2021

Asia pares losses on bargain-buying but inflation fears remain

Asia pares losses on bargain-buying but inflation fears remain.....»»

Category: newsSource:  thestandardRelated NewsMay 14th, 2021

PNB profit rises 34% as loan loss provisions tumble

Philippine National Bank earned P1.79 billion or 34 percent more in the first quarter amid lower provisions for potential loan losses as the country recovers from the pandemic-induced recession......»»

Category: financeSource:  philstarRelated NewsMay 14th, 2021

Duterte declares state of calamity due to ASF

Citing the more than P100 billion in losses to the local hog sector and related industries, President Duterte has placed the entire country under a state of calamity due to the outbreak of African swine fever.....»»

Category: newsSource:  philstarRelated NewsMay 11th, 2021

China: Slowest population growth

China’s population has grown at its slowest pace in decades, reaching 1.41 billion, census results showed on Tuesday, highlighting fears of a looming crisis over an ageing society......»»

Category: newsSource:  thestandardRelated NewsMay 11th, 2021

Oil price increases buoy Petron s bottom-line despite sales drop

The Ang-led oil refiner reported a net income of P1.73 billion, reversing last year’s P4.9-billion net losses......»»

Category: newsSource:  philstarRelated NewsMay 4th, 2021