Philex earnings hurt by lower gold, copper output
Philex Mining Corp., one of the largest gold and copper producers in Southeast Asia, said Thursday net income last year dropped to P1.02 billion from P1.8 billion in 2022 due to lower mine output.
Substantial job generation resulted from easing foreign ownership of renewable energy projects
Some 1.5 million new jobs were seen created as a result of adjustments allowing full foreign ownership of enterprises in the renewable energy sector using 2022 data, Department of Energy (DOE) officials told legislators inquiring into the wisdom of relaxing the economic provisions in the Constitution on Thursday.
Cebu Landmasters preferred share sale for P5 billion musters regulatory approval
The Securities and Exchange Commission on Thursday approved the public sale of Cebu Landmasters Inc. preferred shares seen generating up to P5 billion.
Lower fee-based income, higher provisions weigh down Security Bank earnings in 2023
Security Bank Corp., the 10th largest lender in the Philippines, said Thursday its income declined to P9.1 billion last year from P10.6 billion in 2022, with gains from interest earnings offset by a sharp increase in provisions for credit and impairment losses and decline in fee-based and other income.
D&L Industries 2023 earnings weighed down by expenses related to new factory in Batangas
D&L Industries Inc., a listed manufacturing company, said Thursday net income last year dropped 31 percent to P2.3 billion as interest and depreciation expenses related to its new Batangas factory soared.
