First Gen Corp. on Wednesday urged regulators to act promptly on the cost recovery mechanism of power companies using imported liquefied natural gas (LNG), saying the dilly dallying is causing financial pain and sends signals that only discourages the entry of more investors.
A recent deal that valued Globe Fintech Innovations Inc., better known as Mynt and the parent company of GCash, at USD5 billion has left PLDT and Smart chairman and CEO Manuel V. Pangilinan thinking out loud about the performance of Maya Innovations Holdings—the group’s unit directly competing with GCash.
Manila Electric Co., the listed power distributor whose service area generates half of the country's economic output, said Monday power rates in August will rise by P0.0327 per kiloWatt-hour, lifting overall rate for a typical household to P11.6339 a kWh.
Manila Electric Co. subsidiary Meralco PowerGen Corp. (MGen), initially interested, has dropped its bid to acquire the Caliraya–Botocan–Kalayaan (CBK) hydroelectric power plant complex in Laguna that the Power Sector Assets and Liabilities Management Corporation (PSALM) aims to sell through public bidding.
The Department of Agriculture will set up several livestock checkpoints across Luzon in response to the rapid spread of African Swine Fever in Batangas suspected to have been exacerbated by unscrupulous hog traders selling diseased pigs.
Typhoon Uwan weakened after slamming into the Sierra Madre mountains late Sunday but retained its fierce winds. PAGASA lifted Signal No. 5 yet maintained Signal No. 4 over parts of Abra, Benguet, Ifugao, Ilocos Sur, Mt. Province, Nueva Ecija, Nueva Vizcaya, La Union, and Pangasinan. Moving west-northwest at 20 kilometers per hour, Uwan’s center is expected to reach the West Philippine Sea by Monday night, where it may regain strength before veering toward Taiwan. The NDRRMC reported that about 836,000 people across eight regions have been affected, with roughly one-third now sheltering in evacuation centers. Damage and casualty reports are still being collated.
Robinsons Land Corp. (RLC), listed propety development arm of the Gokongwei Group, posted a P3.30 billion profit in the third quarter, buoyed by strong performances across both its investment and development portfolios. Third-quarter results pushed net income attributable to the parent of P10.17 billion for the first nine months of the year—up 2 percent year-on-year.
Insular Life (InLife), the country’s first and largest life insurer, is challenging the long-held Filipino mindset of “bahala na” with its new campaign, “Bahala Not.”