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Visayas Farms to Sustain Growth This Year

Different farms and the whole agriculture industry in all the three provinces in the Visayas will sustain growth this year 2021 according to the Department of Agriculture (DA). Heads of DA’s regional offices stated that the support for Filipino farmers from the national government should be the top priority in order to achieve the projected […].....»»

Category: newsSource: metrocebu metrocebuFeb 12th, 2021

Mega Global hopeful of sustained growth

Sardines manufacturer Mega Global Corp. is hopeful it will sustain its growth this year as it continues to improve the quality of its products and prioritize the health of its workforce amid the strong demand for canned goods brought on by the pandemic......»»

Category: financeSource:  philstarRelated NewsJul 26th, 2021

GCash continues rapid expansion

Mobile wallet GCash continues to sustain its growth momentum from last year, paving the way to achieving profitability in the next few years......»»

Category: financeSource:  philstarRelated NewsMay 30th, 2021

PLDT& rsquo;s profit climbs by 8% to P24.3b on record sales

PLDT Inc. said Thursday it expects to sustain growth this year after a “year from hell” brought about by the global pandemic......»»

Category: financeSource:  thestandardRelated NewsMar 5th, 2021

ITBPM industry sees flat growth

Considering the factors impacting the global IT-business process management (IT-BPM) from the pandemic, the Philippine industry is projected to end flat this year and highlighted the need for important government interventions to achieve and sustain the renewed growth forecast up to 2022. The IT Business Process Association of the Philippines ........»»

Category: sportsSource:  abscbnRelated NewsNov 20th, 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:  mb.com.phRelated NewsNov 12th, 2020

Gov’t pushes digitalized, mechanized farm sector

The Department of Finance (DOF) said the government is rapidly digitalizing the country’s agricultural systems and mechanizing farm production to ensure food security over the long run. During the virtual 2020 Annual Meetings of the International Monetary Fund and the World Bank Group, Finance Secretary Carlos G. Dominguez III said the government wants to turn the coronavirus-induced health emergency into an opportunity. Finance Secretary Carlos G. Dominguez III (MANILA BULLETIN FILE PHOTO) To do so, Dominguez said efforts to implement the twin measures are being done to expand Filipinos’ market access for food producers while keeping food supply available and prices affordable. “We are confident that the innovative measures we are putting in place today will transform Philippine agriculture into a dynamic, high-growth sector that will fuel our country’s strong recovery,” Dominguez said during the high-level Food Security Roundtable at the meeting. Dominguez said the government is also promoting digital marketing to support ongoing efforts to boost consumer spending in the new normal and sustaining public investments in rural infrastructure. He added that the government is accelerating the move towards agricultural technology-based farming and value chain development to ensure long-term food security.  To channel more funds into the agriculture sector, the government is also encouraging more private-sector financing in the sector by proposing reforms in the Congress that will provide more access to credit for the entire agricultural value chain, Dominguez said.   “We all aspire for greater food and nutrition security for our people. Only an efficient and modern agriculture sector can fully deliver that,” Dominguez, who was Agriculture secretary during the administration of the late President Corazon Aquino, said. Amid pandemic, Dominguez III said the Philippines has been handling the COVID-19 crisis “with strength on the food security front” duets reforms, particularly with the passage of the Rice Tariffication Law (RTL). According to Dominguez, the agriculture sector was “one of the brightest spots” of the Philippines’s response to the pandemic owing in large part to the RTL. He pointed out that agriculture sector even continued to grow when the rest of the economy contracted because of the COVID-19 pandemic.  Dominguez said rice tariffication was among the main reasons why the government has succeeded in keeping food prices and supply stable, and inflation low during the COVID-19 emergency.  Keeping rice prices stable has been helpful for low-income households that spend a fifth of their budgets on rice alone, he added.   “The Philippines faced the COVID-19 pandemic with strength on the food security front,” Dominguez said.  He pointed out that despite logistical restrictions resulting from the lockdowns imposed to protect people and communities from the lethal coronavirus, the government was able to sustain the flow of produce from local farms to Filipino consumers.   “A food crisis did not happen. This is credited to the effective management of the food supply by our Agriculture Department,” Dominguez said......»»

Category: newsSource:  mb.com.phRelated NewsNov 8th, 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:  mb.com.phRelated NewsAug 1st, 2020

CLI posts 41% sales jump in H1

Cebu Landmasters, the listed developer in Visayas and Mindanao, posted a 41 percent growth in sales in the first half of the year to P7.43 billion......»»

Category: financeSource:  philstarRelated NewsJul 8th, 2020

Sharper drop reveals remittances meet their match in coronavirus

Cash remittances are set for a deeper dive, while earnings from business process outsourcing sector are seen to sustain growth this year......»»

Category: newsSource:  philstarRelated NewsJun 11th, 2020

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

Preview: At most a second Olympic silver for Hidilyn Diaz?

Should 30-year-old Hidilyn Diaz of the Philippines sustain a “consistent” performance given her total lifts in the last three years, she’s good for another Olympic silver medal at most......»»

Category: newsSource:  philstarRelated NewsJul 26th, 2021

Palace: Pinoys can expect better Christmas, future

Amid the threat posed by the Delta variant, Malacañang said yesterday that with vaccination aiming for herd immunity in the fourth quarter of the year, Filipinos can look forward to a better Christmas and achieving economic growth in 2022......»»

Category: newsSource:  philstarRelated NewsJul 26th, 2021

Pandemic-induced debt growth may have peaked already — Dominguez

The pandemic-induced rise of government debts likely hit its peak already, and a return to pre-crisis fiscal health could happen late next year, Finance Secretary Carlos Dominguez III said Wednesday......»»

Category: financeSource:  philstarRelated NewsJul 21st, 2021

ADB keeps Philippine growth outlook

Manila-based Asian Development Bank is keeping its economic growth outlook for the Philippines at 4.5 percent this year amid a sea of downgrades in Southeast Asia due to the resurgence of COVID-19 cases......»»

Category: financeSource:  philstarRelated NewsJul 20th, 2021

ACEN to build 4 wind farms in Vietnam

AC Energy Corp. is putting up four wind farms with a combined capacity of 440 megawatts in Vietnam this year, which will make the country its largest overseas market......»»

Category: newsSource:  philstarRelated NewsJul 20th, 2021

Car importers sustain sales growth but recovery an uphill struggle

Car importers posted another month of sales growth in June, but the road to recovery remains an “uphill struggle” for the industry......»»

Category: financeSource:  philstarRelated NewsJul 19th, 2021

DepEd-7: At least 500K students enrolled for school year 2021-2022

CEBU CITY, Philippines — At least 500,000 public school students in the region have already enrolled for the incoming school year 2021-2022, the Department of Education in Central Visayas (DepEd-7) revealed. Salustiano Jimenez, DepEd-7 Director, told CDN Digital in an interview that they had been accommodating early enrolment since March this year. Though he could […] The post DepEd-7: At least 500K students enrolled for school year 2021-2022 appeared first on Cebu Daily News......»»

Category: newsSource:  inquirerRelated NewsJul 17th, 2021

Villar to DPWH-7: Widen Mambaling Underpass side roads before year ends

CEBU CITY, Philippines — Complete the widening of Natalio Bacalso Highway, especially along the Mambaling Underpass in Cebu City. This was the marching order of Department of Public Works and Highways (DPWH) Secretary Mark Villar to the regional DPWH in Central Visayas (DPWH-7) amid the flooding experienced in and along the underpass last March 2021. […] The post Villar to DPWH-7: Widen Mambaling Underpass side roads before year ends appeared first on Cebu Daily News......»»

Category: newsSource:  inquirerRelated NewsJul 16th, 2021

ING cuts Philippines growth forecast

Dutch financial giant ING Bank sees the Philippines lagging in terms of recovery from the pandemic as it slashed the gross domestic product growth forecast to 4.7 percent instead of five percent this year......»»

Category: financeSource:  philstarRelated NewsJul 14th, 2021

Vehicle sales pick up speed

Local car and truck assemblers’ sales continued to rise, posting double-digit growth year-on-year in June and in the first semester, coming from a low base last year when the coronavirus pandemic greatly affected demand for vehicles......»»

Category: financeSource:  philstarRelated NewsJul 14th, 2021