Ayala Land Inc. said it will reduce its capital spending this year to P50 billion, down by more than a third from its earlier plan of P70 billion to P80 billion, as earnings declined.

Robinsons Retail Holdings Inc. (RRHI) reported a 35 percent drop in net income for the first quarter, falling to ₱489 million from ₱759.78 million a year earlier, mainly due to higher interest expenses linked to its reacquisition of shares from DFI Group.

A local fuel retailer said gasoline and diesel prices iare likely to increase again next week due to ongoing tensions between the United States and Iran.