Corporate
First Gen earnings hit by lower electricity sales, expired power contract
First Gen Corp., the renewable energy arm of the Lopez Group, saw a 9 percent decline in net income to USD81 million on lower electricity sales, higher operating expenses, and the expiry of a power supply contract.
SM Investments, SM Prime set up USD3-billion borrowing facility
The overseas units of SM Investments Corp. and SM Prime Holdings Inc. have established a multi-issuer European medium term note program that could raise as much as USD3 billion from international investors for projects of the SM Group of the Sy family.
AyalaLand Logistics earnings rebound on industrial lot demand, leasing growth
AyalaLand Logistics Holdings Corp. saw first-quarter net income rise 19 percent to P211 million, with double-digit revenue growth fueling a recovery from the downturn last year.
Services, industry generate more jobs in March, take slack from El Nino-challenged farm sector
Services and industry generated nearly 2 million additional jobs in the past 12 months, compensating for the job losses in agriculture due to the challenges posed by El Nino and helping push unemployment rate down to 3.9 percent in March from 4.7 percent in the year-earlier period.
Weaker coal, nickel prices undermine DMCI earnings
Lower prices of coal and nickel and fewer construction projects and real estate revenue undercut sales of diversified engineering conglomerate DMCI Holdings Inc., pushed lower its net income in the first quarter by double digits.
