ANGELICA BALLESTEROS, TMT

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The stock market snapped a three-day losing streak on Friday, rising back to the 8,800 level but still a way off from Monday’s latest all-time high. The Philippine Stock Exchange index rose by 0.82 percent or 72.03 points to close at 8,810.75 while the wider All Shares grew by 0.99…

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PHILAB Holdings Corp. on Friday said it is investing P500 million in US-based firm Veritas: The Genome Company to offer genome sequencing services in the country and expand operations in the region. Philab signed the collaboration deal with Veritas on Friday. The collaboration will include the establishment of a genome…

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GOLDEN Haven, Inc. is switching to a new corporate name to provide flexibility in undertaking business expansion in the low-end mass housing and memorial real estate segments. In a disclosure to the Philippine Stock Exchange on Friday, Golden Haven said its board of directors approved in a special meeting the…

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The Sy-led SM Group has dropped its plan to acquire pastry firm Goldilocks Bakeshop, Inc., saying both parties had “jointly agreed not to pursue the transaction given changes in the general business environment.” The withdrawal was announced on television by Philippine Competition Commission (PCC) Chairman Arsenio Balisacan, whose agency approved…

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PROPERTY developer DoubleDragon Properties, Inc. said Thursday that it was set to build the biggest hotel in the Philippines, which will be called Hotel101 Resort-Boracay. In a statement, DoubleDragon said the new hotel was a joint venture project of wholly-owned subsidiary Hotel Asia, Inc. and Newcoast South Beach, Inc. The…

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Declines on Wall Street weighed on the Philippine Stock Exchange index (PSEi) on Wednesday with the bellwether gauge — which topped 9,000 just last Friday — falling back into 8,700 territory. The PSEi lost 146.47 points or 1.64 percent to close at 8,764.01. The broader All Shares, meanwhile, retreated by…

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CONGLOMERATE San Miguel Corp. is planning to raise as much as P30 billion from the issuance of peso-denominated fixed-rate bonds due in 2023. In a disclosure on Wednesday, SMC said it had filed a registration statement with the Securities and Exchange Commission to issue fixed-rate bonds with a base size…

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PROPERTY giant Ayala Land, Inc. is allotting 450 hectares of land over the next four years for the restoration of forests in line with an ambitious program to be carbon neutral come 2022. In a news conference on Wednesday, Ayala Land sustainability manager Anna Maria Gonzales said ALI partnered with…

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The stock market fell by over 2 percent in intraday trade on Tuesday but clawed back some of the losses as the day ended, tracking declines on Wall Street and the region. The benchmark Philippine Stock Exchange index (PSEi), which slumped to as low as 8,838.69 — down 2.43 percent…

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BUSINESSMAN Joseph Calata on Tuesday branded the cease and desist order issued by the Securities and Exchange Commission (SEC) against his initial coin offering (ICO) as “harassment”, claiming that the corporate regulator had no jurisdiction to stop the sale of his Krops cryptocurrency. In a statement, Calata—chairman, president and chief…

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