SMC earnings pick up in Q3 on easing lockdown
SAN MIGUEL Corp. (SMC) posted a net income of P15 billion in the third quarter, up from the P13.54 billion it reported the same period last year, as its business units started bouncing back after subdued demand earlier in the year.
AboitizPower’s supercritical power plant in Bataan to go online in 2021
ABOITIZ Power Corp. has scheduled the two units of a subsidiary’s 1,336-megawatt (MW) supercritical coal-fired power plant in Dinginin, Bataan to start operating commercially around the middle of next year.
SEC orders submission of money laundering prevention program
THE Securities and Exchange Commission (SEC) is requiring firms to submit a revised program against money laundering and terrorist financing within the next two months.
LBC Express profit up nearly 38%
LBC EXPRESS HOLDINGS, Inc. on Thursday reported a 37.6% growth in its third-quarter attributable net income, but cumulative earnings as of September remained lower compared with a year ago after the health crisis’ impact on operations.
Philippine business groups sign pledge to reduce inequality
SOME of the biggest business groups in the Philippines have signed a covenant committing to address economic and social inequalities in the country, which have been heightened by the ongoing coronavirus pandemic.
PT&T net loss shrinks as revenues rise during pandemic crisis
THE Philippine Telegraph and Telephone Corp. (PT&T) narrowed its net loss for the third quarter on the back of higher revenues amid the pandemic crisis.
How PSEi member stocks performed — November 5, 2020
Here’s a quick glance at how PSEi stocks fared on Thursday, November 5, 2020.
MPIC sees 36% profit fall in 2020, recovery in 2022
METRO PACIFIC Investments Corp. (MPIC) anticipates its full-year core net income to end at a little over P10 billion, down from its P15.6-billion finish last year, as recovery from the coronavirus pandemic is seen to take until 2022 to go back to 2019 levels.
DoE to companies: Start work in contested seas
EXPLORATION companies in the Philippines should proceed in surveying and drilling in parts of the West Philippine Sea, the Energy chief said on Wednesday, as he reminded them that China’s approval is not needed.
PXP told to resubmit work program
THE Department of Energy (DoE) has asked PXP Energy Corp. to resubmit its work program for oil exploration activities in the West Philippine Sea, the chairman of the listed company said on Wednesday.
SM Group profits down 54% in nine months; Q3 picks up
SM INVESTMENTS Corp. (SMIC) saw its net income shrink by more than half in the year-to-date period, despite improving its top line during the third quarter of 2020.
Globe’s net income down 22%
GLOBE TELECOM, Inc. on Wednesday reported a 22% drop in its attributable net income for the third quarter to P4.39 billion.