Foreign exchange adjustments halved San Miguel 1Q net income
San Miguel Corp., a listed diversified conglomerate, reported a 50 percent drop in first-quarter net profit to P8.89 billion due to foreign exchange adjustment.
Ayala Group sells remaining stake in Manila Water to Razon’s Trident Water for P14.5 billion
Nearly three decades after aggressively going after the East concession offered during the privatization of Metropolitan Waterworks and Sewerage System in 1997, Ayala Corp. has decided to divest itself of Manila Water Co. Inc., the listed water utility it built in an area that covered its major real estate development and eventually extend its foot print beyond the Philippines.
Unconsolidated PUJ drivers, operators free to avail of livelihood programs
The Department of Transportation (DOTr) said public utility vehicle (PUV) operators and drivers who fail to meet the 30 April deadline for consolidation are welcome to avail of government livelihood programs.
Earthquake in Sarangani undermines earnings of Alsons Consolidated
A strong earthquake that hit Sarangani province in December sent shock waves that undermined the earnings of Alsons Consolidated Resources, a publicly listed company of the Alcantara Group., in the first quarter.
Philippines 1Q agricultural exports rise 11% to USD1.72 billion
Philippine export of agricultural products in the first quarter rose 11 percent year-on-year to USD1.72 billion, helping narrow the country’s deficit in the trade of farm and fishery products during the January-March period.
