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  • Stock index seen hitting 6,700 this year

    February 13, 2014 5:02 PM 15

    MANILA, Philippines - The bellwether index may end past 6,700 this year, brokerage firm AB Capital Securities, Inc. said. In a briefing, AB Capital Securities research head Jose Vistan said the index may also reach the 7,800 level next year. The outlook is based on expectations of the country’s strong economic performance and liquidity. “We see a six percent

  • MRTC: Deal was for brand new coaches, gov't wanted second hand

    February 13, 2014 4:25 PM 23

    MANILA, Philippines - The Metrorail Transit Corp. (MRTC) has not waived its right of first refusal for the purchase of brand new additional light rail vehicles (LRVs) for the Metro Rail Transit (MRT) line 3 or MRT-3. In the hearing on Thursday at the Makati Regional Trial Court Branch 66 for MRTC's petition for an injunction on the move of the Department

  • SC asks Aquino, execs to explain Philhealth premium hike

    February 13, 2014 2:43 PM 10

    MANILA, Philippines – Members of the Philippine Health Insurance Corporation (Philhealth) from low-income brackets will have to wait for any possible temporary break from increased premium payments. The Supreme Court (SC) en banc, in an order dated Tuesday, February 11, deferred action on a labor group's motion to impose a temporary restraining order

  • Landbank net income slows in 2013

    February 13, 2014 10:39 AM 23

    By: Maricel E. Burgonio, February 13, 2014 5:53 PM In a statement, state-owned Landbank said its net income grew nine percent to P11.7 billion last year from P10.7 billion in 2012. Last year's increment was slower than the 12 percent growth in 2012. “Landbank wrapped up another fruitful year with a solid fourth quarter and we are confident

  • Roxas Holdings more than doubles Oct-Dec earnings

    February 13, 2014 9:58 AM 23

    By: Krista Angela M. Montealegre, February 13, 2014 5:35 PM MANILA - Roxas Holdings Inc (RHI) said its earnings surged in the first quarter of its 2014 fiscal year, getting a boost from the turnaround in its ethanol business. In a disclosure to the Philippine Stock Exchange, the country's largest integrated sugar firm said it posted a net income

  • AirAsia Zest to take delivery of 2 aircraft in 1H

    February 13, 2014 9:15 AM 30

    By: Darwin G. Amojelar, February 13, 2014 4:11 PM MANILA - AirAsia Zest on Thursday said it is acquiring an additional two aircraft in the first half of this year to serve the expansion of its domestic and international destinations. Hontiveros, AirAsia Inc chief executive told reporters that the airline is looking at ending the year with a fleet

  • Emperador acquires stake in another Spanish brandy-maker

    February 13, 2014 5:41 AM 28

    By: Krista Angela M. Montealegre, February 13, 2014 11:29 AM MANILA - The maker of Emperador Brandy is expanding its operations in Spain with the acquisition of a significant stake in another company owned by wine conglomerate Gonzalez Byass SA. In a disclosure to the Philippine Stock Exchange (PSE), Emperador Inc said its subsidiary

  • Robinsons Land's Oct-Dec profit tumbles on losses from typhoon, fire

    February 13, 2014 4:52 AM 22

    By: Krista Angela M. Montealegre, February 13, 2014 11:21 AM MANILA - Robinsons Land Corp (RLC) registered a double-digit drop in profit in the first quarter of its 2014 fiscal year after incurring typhoon and fire losses. In a regulatory filing, the property company of the Gokongwei family said its net income attributable to equity holders

  • Cambodia Airlines investment still on, PAL says

    February 12, 2014 4:26 PM 29

    By: Darwin G. Amojelar, February 12, 2014 4:32 PM MANILA - Philippine Airlines (PAL) on Wednesday said it is pursuing the completion of its investment in a Cambodian airline despite delays in the closing of the deal. In a disclosure to the Philippine Stock Exchange, PAL said there are "on-going preparations for the completion of the contemplated

  • URC 1Q profit jumps by a quarter on brisk sales of drinks, snacks

    February 12, 2014 4:00 PM 19

    By: Krista Angela M. Montealegre, February 12, 2014 5:29 PM MANILA—The maker of Jack 'N Jill snack food and C2 ready-to-drink (RTD) tea grew its earnings by a fourth in the first quarter of its fiscal year 2014, driven by the strength of its branded consumer foods (BCF) business. In a disclosure to the Philippine Stock Exchange, Gokongwei-led