Petron secures SEC approval to raises up to P17 billion from preferred shares sale
Petron Corp., the country’s largest oil company and a unit of San Miguel Corp., has secured regulatory approval for its plan to raise as much as P17 billion from the sale of Series 3D and 4D preferred shares.
Weather related palay losses thus far lower than historical annual levels
Adverse weather has diminished palay production across the Philippines by an estimated 386,960.34 metric tons (MT) since the start of the year, the Department of Agriculture said on Wednesday.
DA highlights tuna industry impact on economy, food security
Agriculture Secretary Francisco P. Tiu Laurel Jr. on Wednesday underscored the important role played by the tuna industry in generating investments, creating jobs and ensuring the country’s food security at the start of the 24th National Tuna Congress and Trade Exhibit in this southern city hailed as the tuna capital of the Philippines.
Meralco acquires additional SPNEC shares
Meralco PowerGen Corp., a unit of power distributor Manila Electric Co., is buying an additional 11.6 percent stake in SP New Energy Corp. worth P7.5 billion from shares owned by Leandro L. Leviste.
DOE mulls 55 percent biodiesel blend for power generation
The Department of Energy (DOE), likely in coordination with the National Power Corp. (NPC), plans ramping up the biodiesel mix sharply to 55 percent among power generation companies as part of the larger goal of reducing the country's carbon footprint.
