Business

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The Philippine Deposit Insurance Corp. (PDIC) has scheduled a November auction of more than a hundred assets with a combined value of P36.96 million, Interested buyers can choose from 102 commercial and residential lots and two motor vehicles owned by the state-owned firm and various closed banks, PDIC said in…

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LISTED Chemical Industries of the Philippines (Chemphil) is selling its 65.92 percent stake in LMG Chemicals Corp. to an industrial auctioneer for P405 million. In a disclosure to the Philippine Stock Exchange, Chemphil said it signed a share purchase agreement on October 20 with buyers Dominic Sytin and Robinson Siao…

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AYALA Corporation’s power subsidiary AC Energy Holdings, Inc. is on track to complete the construction of a $150-million commercial wind farm in the province of South Sulawesi in Indonesia. Construction of Indonesia’s first utility-scale wind farm in the municipality of Sidrap is nearly 70 percent complete and is “expected to…

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TELECOM and digital services provider PLDT expects double-digit revenue growth in the third quarter on the back of expected strong performances from its Home and Enterprise businesses. Manny Pangilinan, PLDT chairman, told reporters following the launch of PLDT’s #READY campaign in Makati City that the company is “always positive” about…

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HOMEGROWN property developer Cebu Landmasters, Inc. has broken ground on a new condominium development in Davao City, the company said on Monday. The MesaTierra Garden Residences is a 22-story residential tower that will rise in Poblacion District in Davao and is targeted to cater to the working middle class segment.…

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AYALA-LED Manila Water Co., Inc. has formalized its partnership with Calasiao Water District (CWD) for a project to improve water supply in the municipality of Calasiao in Pangasinan. Manila Water informed the Philippine Stock Exchange (PSE) on Monday that Calasiao Water Co. and CWD have signed and executed a concession…

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AYALA Multipurpose Cooperative (AMPC) recently signed a tripartite memorandum of agreement (MOA) with Palawan ARC Cooperative Federation (PARCOFED) of Narra, Palawan and Ten Knots Development Corporation to support the Department of Agriculture’s (DA) corporate rice farming program. This is the second time that AMPC has entered an agreement in support…

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NEW YORK: Most business economists predict that US economic growth will surpass two percent over the next year, despite softening in some business conditions, according to a survey released Monday. The improving forecasts for US growth come amid a weakening profit outlook and continued uncertainty over thorny debates in Washington…

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SYDNEY: ANZ Bank settled an alleged rate-rigging case with Australia’s corporate regulator on the opening day of a court hearing Monday that also involves fellow heavyweights Westpac and NAB. The three banks are being probed by the Australian Securities and Investments Commission (ASIC) about possible fixing of the country’s benchmark…