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Tax hike seen making PH equities uncompetitive

2017-12-14 business.inquirer.net
The insertion of a 20-percent increase in the stock transaction tax in the Tax Reform for Acceleration and Inclusion (TRAIN) program in Congress is seen to yield P1.7 billion in additional revenue yearly but the Philippine Stock Exchange is worried this will make local equities less competitive versus regional peers. (15-0)

Higher taxes seen to make PSE less competitive

2017-12-14 bworldonline
FOREIGN INVESTORS may lose their interest in the Philippine Stock Exchange (PSE) once it raises stock transaction taxes (STT) in 2018 as part of the first package of the government’s tax reform program due for implementation in the first quarter. (16-0)

PSALM issues default notice to Filinvest power unit

2017-12-13 philstar
MANILA, Philippines — State-run Power Sector Assets and Liabilities Management Corp. (PSALM) has issued a notice of default to the power unit of the Gotianun-led Filinvest Group in relation to its independent power producer administrator (IPPA) contract. (6-0)

FDI jumped 61.8% to $754 million in September

2017-12-11 business.inquirer.net
A 61.8-percent jump in net inflows of job-generating foreign direct investment (FDI) in September to $754 million narrowed the year-on-year decline in the nine-month tally, the latest Bangko Sentral ng Pilipinas (BSP) data released Monday showed. (14-0)

Basic Energy eyes stake in Japan biomass plant

2017-12-08 philstar
MANILA, Philippines — Listed Basic Energy Corp. is looking to invest at least 10 percent in a 25-megawatt (MW) biomass power plant in Japan as it part of its expansion outside the Philippines. (11-0)

Meralco top retail power supplier, share erodes

2017-11-21 bworldonline
MANILA ELECTRIC Co. (Meralco), the country’s biggest power distribution utility, has remained the top supplier of retail electricity but its market share has steadily declined as of the end-June billing period, latest industry data show. (9-0)

Basic Energy eyes stake in Myanmar solar projects

2017-11-19 philstar
MANILA, Philippines — Basic Energy Corp. is looking to acquire minimum stakes in the firms building a 220-megawatt (MW) solar plant in Myanmar as part of getting revenue streams while development for long-gestating projects are ongoing. (6-0)

Lopez group profit down 43% in 9 months

2017-11-16 business.inquirer.net
The main holding company of the Lopez family saw its profit decline in the nine months through September this year on lower earnings from its power and media units. (12-1)

Lopez Holdings income declines in 3rd quarter

2017-11-16 bworldonline
LOPEZ HOLDINGS Corp. suffered a 52% drop in third-quarter net income attributable to the parent firm’s equity holders to P1.41 billion from P2.92 billion in the same quarter last year, its financial report to the stock exchange shows. (7-1)

First Gen nets 4% less in 7 months

2017-11-14 philstar
MANILA, Philippines — First Gen Corp. registered a four percent drop in its nine-month net income ending September, pulled down by the losses incurred by one of its gas-fired power plants and the impact of an earthquake on its geothermal plant in Leyte. (7-0)

Lopez-led First Gen Q3 profit declines

2017-11-13 bworldonline
FIRST GEN Corp. posted $42.81 million in third-quarter net income attributable to equity holders of the parent firm, down 29% from $60.68 million in the same period last year, the Lopez-led company told the stock exchange. (7-0)

FDIs surged 70% in August

2017-11-10 business.inquirer.net
The net inflow of job-creating foreign direct investments (FDIs) in August reached a 16-month high of $1.2 billion, narrowing the drop in eight-month inflows, the latest Bangko Sentral ng Pilipinas data released yesterday showed. (14-0)

August FDI hit 16-month high of $1.203B

2017-11-10 business.inquirer.net
The net inflow of job-creating foreign direct investments (FDI) in August reached a 16-month high of $1.203 billion, narrowing the drop in eight-month inflows, the latest Bangko Sentral ng Pilipinas data released Friday showed. (14-0)

Faster 3rd quarter economic growth seen

2017-11-02 business.inquirer.net
The economy likely expanded faster in the third quarter than the first half given the expected sustained recovery in the agriculture sector and strong performance of the export industry, the country’s chief economist said yesterday. (10-1)

Foreign investor confidence remains strong — DOF

2017-10-27 philstar
MANILA, Philippines — The Department of Finance (DOF) said yesterday foreign investor confidence in the Philippines remains strong, citing investments of $2.3-billion recently made by two global firms in the local manufacturing and energy sectors. (15-0)