First Gen Corp., the power generation arm of the Lopez Group, said it expects to finalize within two to three months a deal to sell a 60 percent stake in its natural gas business to Prime Infrastructure Capital Inc., owned by billionaire Enrique Razon Jr.
First Gen Corporation, the Lopez Group’s clean and renewable energy provider, reported a 12 percent decline in attributable recurring net income for 2024, amounting to USD245 million (P14.0 billion), compared to USD277 million (P15.4 billion) in 2023.
A little over a dozen companies listed on the Philippine Stock Exchange (PSE), including those owned by prominent families, are now required to submit monthly public ownership reports (POR)—an early-warning system established by the bourse to monitor firms teetering close to the minimum ownership threshold.
The country’s sugar industry has submitted a unified manifesto to the Department of Agriculture (DA) and the Sugar Regulatory Administration (SRA), calling for tighter regulation of artificial sweeteners and other sugar substitutes.
The Department of Energy (DOE) is pushing a major acceleration of the country’s net-metering program by enforcing strict, time-bound permit processing across local governments—an overhaul the agency said will significantly speed up solar installations for households and businesses.
The Jollibee Group is highlighting its Danao Commissary in Cebu as a showcase of how sustainability can be built into manufacturing and logistics from the very beginning, rather than added as an afterthought.
Transportation Secretary Giovanni Lopez has directed the Civil Aviation Authority of the Philippines (CAAP) to set aside P200 million to P300 million to relocate National Grid Corporation of the Philippines (NGCP) transmission lines that are preventing full use of the Bicol International Airport (BIA) runway.