Gold pulls back as market mood brightens on trade and Fed developments
Gold prices dipped below USD3,370 per ounce on Wednesday, extending their retreat from Tuesday’s record high of USD3,500, as investor sentiment improved amid signs of easing geopolitical and monetary tensions.
New Meralco franchise to start June 2028
Manila Electric Co., the country’s largest power distributor, said its new 25-year franchise will commence upon the expiration of its current license on June 28, 2028.
Better known as Meralco, the company said Republic Act 12146 that grants it a new franchise will take effect 15 days from its publication of at least two newspapers of general circulation. President Ferdinand Marcos Jr. signed the law on April 11.
SMC, KORAIL ink O&M deal for MRT-7, marking key milestone in rail project
San Miguel Corporation’s infrastructure arm has signed a pivotal operations and maintenance (O&M) services agreement with Korea Railroad Corporation (KORAIL) for the MRT-7 project, reinforcing the transition from construction to full operations and signaling a step forward in Philippine mass transport development.
AboitizPower breaks ground on new battery storage project
Nasipit, Agusan del Norte — Aboitiz Power Corp., through its subsidiary Therma Marine Inc. (TMI), has started groundwork for a new 48-megawatt (MW) hybrid battery energy storage system (BESS), signaling a strategic expansion in the company’s energy portfolio aimed at enhancing grid reliability and supporting renewable energy integration.
Boomi CEO Warns of Infrastructure Crisis in New Book
As businesses rush to adopt artificial intelligence, a sobering message from Boomi CEO and chairman Steve Lucas cuts through the hype: outdated digital infrastructures are sabotaging AI success. In his new book, Digital Impact: The Human Element of AI-Driven Transformation (Wiley), released Monday, Lucas argues that most organizations are pouring millions into AI while struggling under decades-old systems, fragmented data, and disconnected apps.
