Holcim plans to invest P121.5m in fuel facility

Cement maker Holcoim Philippines Inc. said Thursday it will invest P121.5 million to build an alternative fuel processing facility in its manufacturing plant in Norzagaray, Bulacan......»»

Category: lifestyleSource: abscbn abscbnJan 15th, 2021

AG& P investing $315M in LNG facility in Batangas to supply fuel to Ilijan plant

Atlantic Gulf & Pacific Company of Manila Inc. plans to put up a liquefied natural gas import facility in Batangas City to supply re-gasified LNG to the 1,200-megawatt Ilijan natural gas power plant, documents filed with the Department of Environment and Natural Resources show Friday......»»

Category: financeSource:  thestandardRelated NewsOct 23rd, 2020

Largest bicycle producer plans manufacturing facility in PH

The Department of Trade and Industry is wooing the world’s largest bicycle manufacturer to invest in the Philippines and meet the rising demand for zero-emission mobility in the country......»»

Category: financeSource:  thestandardRelated NewsJun 23rd, 2020

Cement maker turns 170,000 tons of waste into fuel

Cement maker Holcim Philippines Inc. plans to increase its consumption of qualified and properly segregated and pre-processed waste as alternative fuels and raw materials to manage costs and help ease the garbage challenge in the country......»»

Category: financeSource:  thestandardRelated NewsMar 14th, 2020

Century Pacific eyes new plant for vegetarian brand

Century Pacific Food Inc. is looking to invest up to P200 million for a production facility for its plant-based food product brand unMEAT......»»

Category: financeSource:  philstarRelated NewsFeb 25th, 2021

First catastrophe insurance facility rolls out this quarter

The Insurance Commission plans to roll out this quarter the first private sector-led catastrophe insurance facility in the country that will ease the risks borne by non-life insurers from disaster-related claims......»»

Category: newsSource:  philstarRelated NewsFeb 19th, 2021

Holcim to spend P121 million for waste management

Holcim Philippines Inc. will pour in P121.5 million to improve its waste management capabilities......»»

Category: financeSource:  philstarRelated NewsJan 14th, 2021

Shell opens new import terminal in Subic

Pilipinas Shell Petroleum Corp. opened a new import facility in Subic to bolster fuel supply in the country in anticipation of increased fuel demand......»»

Category: newsSource:  philstarRelated NewsNov 27th, 2020

Saudi firm set to invest $30m in local drug facility

Basha’er Addawa Trading Co. of Saudi Arabia is proceeding with its plan to invest $30 million in the local pharmaceutical industry, the Philippine Economic Zone Authority said Wednesday......»»

Category: financeSource:  thestandardRelated NewsNov 19th, 2020

Shell widens losses to P13.9-B in 9 months; P1B investment set for import facility

With additional valuation-anchored inventory losses and one-off charges booked, the net loss of listed firm Pilipinas Shell Petroleum Corporation (PSPC) had widened to P13.9 billion in nine months this year. That’s a complete reversal of the P4.4 billion net income it posted last year, when oil prices were at more predictable state and there had been no pandemic-induced uncertainties disrupting oil markets. It specified that if the P5.7 billion inventory valuation losses had not turned up, the company’s net loss in the third quarter should have been at leaner P700 million versus P900 million in the second quarter. And without the one-off charges that stood at P7.5 billion, the oil firm’s net loss should have been trimmed to P6.4 billion within the January-September stretch. The one-off charges came about because of the closure of its refining operations that subsequently prompted the conversion of its Tabangao facility into a world-class import terminal. But while the company works on improving its financial performance in the coming months, Pilipinas Shell President and CEO Cesar G. Romero announced that they will be re-investing roughly P1.0 billion in the next few years “to fully transform Tabangao into a world class facility that will support its marketing growth aspirations.” Part of the company’s major step this year is to set on stream the commercial operations of its 54-million liter capacity terminal in Subic to underpin its supply chain, primarily to serve the demand of its Northern Luzon customers; while its Tabangao import facility will cater to the needs of customers in other parts of Luzon and Northern Visayas. To complete the loop, its Northern Mindanao Import Facility (NMIF) in Cagayan de Oro will be supporting the rest of Visayas and well as customers in Mindanao. Pilipinas Shell said it now “has a more resilient network of three medium-range import terminals with sufficient finished products capacity to effectively serve the demands of customers nationwide.” The firm indicated that despite the challenges, it prioritized business strategies that shall result in cash preservation for the company. As of third quarter’s end, the savings logged by the company stood at P2.5 billion; and this is seen sustained at the level of P2.0 billion until the end of this year. “Savings of P1.2 billion were generated from OPEX (operating expenses); with P1.3 billion from CAPEX (capital expenditure),” Shell emphasized. While the company still navigates the tough terrain of business induced by the coronavirus pandemic, Romero asserted their overall frame “remains optimistic,” as he noted that the “government’s efforts to gradually reopen the economy by prudently relaxing quarantine restrictions are slowly giving elbow room for the economy to recover.” He specified that for Shell, “the wins are coming in gradually as more businesses operate at increased capacity in the areas of manufacturing and transportation.” The company chief executive expounded “our balance sheet, technical capability and resources are solid; and serve as well in continuing to provide Filipinos with high quality fuel products despite the challenging environment.” Parallel to the firm’s aspirations for demand and financial rebound, Romero noted they are also making “the right sustainable decision to protect the long-term interests of our shareholders.” The company’s gearing had risen to 47-percent, and that was mainly attributed to “lower equity from net loss rather than an increase in net debt,” with it emphasizing that “excluding the impact of the refinery one-off charges, the company’s gearing stands at 41-percent.” Romero indicated “the pandemic has forced us to rethink the way we do things, while ensuring the quality of service that Filipinos expect from us.”.....»»

Category: newsSource: NewsNov 12th, 2020

Vivant to invest further into power, water infrastructure

Publicly listed Cebu-based company Vivant Corp. maintains an optimistic outlook despite the effects of COVID-19 pandemic on its businesses as it plans to invest further in energy and water infrastructure, including bulk water supply and wastewater treatment......»»

Category: financeSource:  philstarRelated NewsOct 10th, 2020

Google commits to invest $1 billion in deals with news partners

Paris, France---Google plans to invest $1 billion in partnerships with news publishers worldwide to develop a “Showcase” app to highlight their reporting packages, chief executive Sundar Pichai said Thursday......»»

Category: financeSource:  thestandardRelated NewsOct 3rd, 2020

Phoenix extends help to fishermen, farmers

Phoenix Petroleum Philippines Inc. plans to help fishermen and farmers affected by the COVID-19 pandemic by giving them temporary retail spaces and fuel discounts......»»

Category: financeSource:  philstarRelated NewsOct 2nd, 2020

EU warns Italy on recovery wish list

The European Commission on Tuesday urged Italy to reform and invest rather than just drawing up a spending wishlist, as Rome formulated plans to tackle the economic challenge posed by the coronavirus pandemic......»»

Category: newsSource:  thestandardRelated NewsSep 2nd, 2020

Psychological tests help Calvin Abueva as he moves on from 'worst' part of career

Calvin Abueva is moving on. 2019 was not kind to Calvin Abueva at the slightest, as multiple incidents on and off the court turned his life and career upside down. Currently still suspended by the PBA, Abueva calls the past year as easily the worst of his career. "Totally mental block ako noong panahon na yun," Abueva told former PBA Commissioner Nolie Eala on Power & Play. "Di ko rin masabi sa sarili ko kung bakit ko ginawa yun. First time nangyari sa buong career ko yun, yun ang gulo na pinaka-malala, pinaka-worst," he added. After leading the Phoenix Fuel Masters to the no. 1 seed and a breakthrough semifinals in the Philippine Cup, Abueva's 2019 took a turn for worse in the team's opening weekend in the Commissioner's Cup. First, Calvin was caught on camera making lewd gestures towards the girlfriend of then Blackwater rookie Ray Parks late in a game Phoenix already wrapped up. Second, Abueva clotheslined TNT import Terrence Jones in a heated game that the KaTropa ended up winning in a blowout. The KaTropa game was the last appearance on the court for Calvin so far as total of P90,000 from the PBA and his own team, an indefinite suspension followed. It didn't help that marital problems soon struck Calvin as well though thankfully, he and his wife Sam have since made up and their relationship looks to be stronger than ever in 2020. In the midst of all this, Abueva has found solace in his psychological sessions. The sessions are mandatory for his PBA reinstatement but he plans to continue taking them on his own even after his suspension is lifted. "Laking tulong sakin yung psychology, the best part sa life mo. Kailangan mo rin makilala yung sarili mo," Abueva said. "Ako sa sarili ko, I want to go back kasi mas magiging peaceful ako na male-learn ko kung ano yung mga dapat ko rin makita sa ugali ko at sa katayuan ko," he added. In experiencing the worst, Calvin learned the value of taking cafe of your own mental health. As he moves on to possibly greener pastures, Abueva hopes to also showcase on new and better version of himself. "Hindi ko na po tino-throwback lahat ng nangyari sakin. Fino-forward ko kung paano ko sila makakalimutan at kung paano ko male-learn yung lesson ko," he said. "Ang sakin, gusto ko mapakita yung ako, hindi lang sa basketball, maski yung sa likod ng backboard na Calvin Abueva," the Beast added.   — Follow this writer on Twitter, @paullintag8.....»»

Category: sportsSource:  abscbnRelated NewsAug 10th, 2020

Cleanfuel Strengthens Retail Network in Southern Manila

Now serving with the newest technologies implemented to create high-tech fuel for your vehicles, Cleanfuel, believes in the resiliency of the Filipino people that would bring and sustain solid economic recovery amid health crisis. Their recently opened retail station at Doña Soledad in Parañaque City shows a testament that the company remains upbeat in expanding their network footprints in Southern portion of Metro Manila.   “While 2020 is a challenging year, Cleanfuel has remained optimistic riding in the resiliency of Filipinos towards economic recovery. This is the reason why Cleanfuel Group of Companies continues to invest and opened more stations as a testament and commitment to its people to provide top-notch fuel to every motorist,” said Atty Bong Suntay, President of Cleanfuel. “The opening of the new station in Doña Soledad is in line with Cleanfuel’s goal to expand its reach and strengthen its customer base in the Southern part of Metro Manila,” Suntay said. Situated at the busy thoroughfare of Doña Soledad Avenue Extension at Barangay Don Bosco in Parañaque City, the new station offers a top-notch fuel and lubricants including Clean91 (Unleaded), Premium 95 gasoline, and Euro-4 diesel. It provides access to both public and private motorists from Better Living going to Moonwalk, connecting in the bustling intersection of eastern Parañaque.  In addition, the second district of Don Bosco is the primary residential Barangay of Ninoy Aquino International Airport and one of the 16 Barangays in Parañaque City. Key factors of the city’s progress include banks, shopping malls, restaurants, residential properties, and commercial manufacturing. Motorists heading towards the busy streets of Doña Soledad Avenue Extension from east-west and northern side of Parañaque can gas up to experience Cleanfuel’s brand mantra: Quality fuel for Less! Further, Cleanfuel Doña Soledad station will become a key driver of growth to more than 60,000 population of Barangay Don Bosco. As the city relies on shopping centers as part of major contributors, the company sees that the opening of Cleanfuel Doña Soledad will further strengthen and boost economic confidence. “We’re grateful and honor to inaugurate Cleanfuel Doña Soledad as our first station to open in these unprecedented times. The economy in the City of Parañaque has been growing consistently with massive projects in property and commercial manufacturing,” the company’s chief executive said.  Suntay adds that in the next coming months Cleanfuel is adding more stations not only in NCR but also in provinces to provide quality fuel for business and opportunities for others. “We intend to leverage our business aggressively and expand our retail network across the country, focusing on Mega Manila and Northern Luzon,” concludes Suntay.  Cleanfuel is expected to open more stations in coming weeks in Ortigas Avenue Extension in Pasig and mega branch in Mabalacat Pampanga as part of the long-term business expansion plan. Aside from expansion, the company has extended its support by providing fuel subsidy for the Department of Transportation’s (DOTr’s) Free Bus Ride for Health Workers Program and drive relief donations to northern provinces, which include Pangasinan (Villasis, Binalonan, Pozorrubio) and San Fernando (La Union) and other cities in Metro Manila......»»

Category: newsSource: NewsAug 1st, 2020

Singapore firm plans to invest in First Gen

Singaporean firm Valorous Asia Holdings Pte. Ltd. is eyeing to invest as much as P7.3 billion in First Gen Corp. as it diversifies into the Philippines......»»

Category: financeSource:  philstarRelated NewsMay 29th, 2020

Lace them up: Boxing set for June 9 return in Las Vegas

By TIM DAHLBERG AP Boxing Writer LAS VEGAS (AP) — Add boxing to the list of sports on the comeback trail. Promoter Bob Arum said Thursday he plans to stage a card of five fights on June 9 at the MGM Grand, the first of a series of fights over the next two months at the Las Vegas hotel. A second fight card will be held two nights later, with ESPN televising both cards, kicking off twice weekly shows at the hotel in June and July. No fans will be allowed, and Arum said fighters and everyone else will be tested at least twice during fight week for the new coronavirus. The fights are pending approval of the Nevada Athletic Commission, which meets next week to consider the events, along with two cards that the UFC plans to stage at its facility in Las Vegas. They are also pending the reopening of the MGM and other Las Vegas hotels, something that is widely expected to happen the first week of June, though no dates for a second phase of easing virus restrictions have been announced by Nevada Gov. Steve Sisolak. “Once we get those fights in and UFC gets its initial fights in, both of us will ask for additional dates," Arum told The Associated Press. "The key was getting enough testing, and we’ve got plenty of testing in Nevada to hold our events.” In addition to Arum’s fights, British promoter Eddie Hearn said this week he plans to hold fights beginning sometime in July from the backyard garden of the family mansion outside London where he was raised. Hearn told The Athletic that the first fight card is tentatively set for July 15. Golden Boy promoter Oscar De La Hoya has also talked about returning with a July 4 card, though he has offered no details. UFC returned to action earlier this month with cards in Florida, including a pay-per-view event, that took place without fans. Arum declined to say who would be fighting on June 9, saying ESPN wanted to make the announcement after the fights are approved. But he said the cards would feature the same quality of fighters who were on ESPN before the shutdown of sports around the world. The cards would be expanded to three-hour shows, Arum said, and feature a main event, a co-main and three supporting fights. “These will be the same guys we were going to have before to the extent possible,” he said. “Guys like (Olympic medalist) Shakur Stevenson and others who would have been fighting on our cards.” Stevenson was set to headline a Top Rank card in March at Madison Square Garden when it was called off at the last minute because of the pandemic. Another Top Rank fighter, Ireland’s Michael Conlan, was to fight in New York on St. Patrick’s Day, but Arum said Conlan won’t be on the upcoming cards because he’s unable to travel from Ireland. Arum said fighters and cornermen will be tested when they arrive in Las Vegas the week of the fight and will be housed on a “bubble” floor at the MGM Grand. They will be allowed out only to eat at an approved restaurant in the hotel or to train at the Top Rank gym. Fighters will also be tested the night before they fight. The double tests should eliminate the issue the UFC had when a fighter tested positive and was removed from the UFC 249 card, Arum said. “Our protocols will be much more stringent than UFC had in Florida,” Arum said. “In ours you wouldn’t have a fighter testing positive the day of the fight or the day before.” Arum credited Jim Murren, the former MGM CEO who leads a state task force dealing with the virus, with making sure there are enough tests available for fighters, judges, commissioners and anyone else involved on site. He said 60-70 people may be tested on fight day alone, using tests that can give results in a couple hours. While pre-pandemic fights were held in the 16,000-seat MGM Grand Garden, Arum said the fights will be held in a convention area or ballroom at the hotel. There will be no media allowed, at least at the beginning, he said, because of the logistical difficulty of testing more people. Arum’s Top Rank has a long-term deal with ESPN for fights that before the pandemic hit were on the main network and streaming service ESPN+. The network also combined with Fox to televise the pay-per-view of the Tyson Fury-Deontay Wilder heavyweight title card in February that was Top Rank’s last card. Arum said he talked to Fury on Thursday and that plans are underway to hold the rematch — probably somewhere outside the U.S. — late this year. He said there are also still plans for a highly anticipated lightweight title unification fight between Vasiliy Lomachenko and Teofimo Lopez by the end of the year......»»

Category: sportsSource:  abscbnRelated NewsMay 22nd, 2020

Huge European rescue plans, vaccine hopes fuel virus optimism

A half-trillion-euro European fund laid out by France and Germany sparked optimism Monday about fighting economic fallout from the coronavirus, as did encouraging early results on vaccine research by a US biotech firm. .....»»

Category: newsSource:  thestandardRelated NewsMay 19th, 2020

San Miguel drops $2-b acquisition of Holcim& nbsp;

San Miguel Corp. said Monday it dropped plans to acquire the controlling stake in cement manufacturer Holcim Philippines Inc. after the agreement lapsed without obtaining regulatory approval.....»»

Category: financeSource:  thestandardRelated NewsMay 11th, 2020

HK leader vows education overhaul after protests

Hong Kong’s pro-Beijing leader on Monday vowed to overhaul the city’s education system, arguing its liberal studies curriculum helped fuel last year’s violent pro-democracy protests. Chief Executive Carrie Lam described the current secondary school program as a “chicken coop without a roof” and said her government would soon unveil their plans. “In terms of handling […] The post HK leader vows education overhaul after protests appeared first on Daily Tribune......»»

Category: newsSource:  tribuneRelated NewsMay 11th, 2020