The country’s international investment position (IIP) showed a net liability position of $48.5 billion as at end-June this year, slightly higher by 2.5 percent than only $47.4 billion as at end-March, the Bangko Sentral ng Pilipinas (BSP) said on Friday.
The Philippine government plans to raise a total P150 billion from the domestic capital market through the weekly auction of treasury bills and bonds in October.
Bloomberry Resorts Corp. said Friday its board approved a two-step capital-raising plan that would generate P5.59 billion for the listed resort and casino operations business of tycoon Enrique Razon.
Fernando Zobel de Ayala was elected Thursday as board director of Ayala Corp. and completed his return to the conglomerate following a medical leave last year.
Vivant Corp. said Thursday one of its indirect renewable energy retail subsidiaries has signed a 20-year deal to buy electricity from Samal Solar Renewable Energy Corp., a company building a solar farm with a total capacity of 52 megaWatts-direct current.
Travellers International Hotel Group Inc., led by businessman Andrew Tan, will invest an additional $300 million to $450 million to complete the Westside City integrated resort and casino in Entertainment City, Parañaque.
The Securities and Exchange Commission (SEC) has broadened the scope of its One Day Submission and Electronic Registration of Companies (OneSEC) platform to allow registration of corporations with foreign equity, as part of ongoing efforts to enhance regulatory efficiency and improve the business climate.
The Manila Electric Co., the country’s largest power distributor that serves Metro Manila and parts of neighboring provinces, said Wednesday that power rate in September will be lower by P0.1852 per kiloWatt-hour due largely to lower generation costs.
The Manila Water Foundation, Metrobank Foundation, Zuellig Family Foundation, and local government partners launched a new water system in Barangay Bohelebung, Tipo-Tipo, Basilan.