THE Energy Regulatory Commission (ERC) said Friday that it will seek clarification from the Supreme Court (SC) after the tribunal denied the agency’s motion for reconsideration on a ruling that invalidated a number of power supply contracts that could affect millions of electricity consumers.

THE National Economic and Development Authority (NEDA) Board’s Committee on Infrastructure (INFRACOM) has endorsed for approval the second transport infrastructure road map for the capital region.

POWER Sector Assets and Liabilities Management Corp. (PSALM) is selling a property in Ilocos Norte where a diesel-fired power plant used to stand, as the agency continues to look for ways to monetize idle assets.

MANILA Water Co., Inc. announced on Friday the resignation of Ferdinand M. dela Cruz, who cited “personal” reasons, marking the departure of the president and chief executive officer who was in office at the height of the water crisis that hit Metro Manila’s east zone concessionaire early this year.

ROBINSONS Land Corp. (RLC) said net profit rose nearly 22% in the second quarter, reflecting the performance of its commercial centers business after the opening of four new shopping malls.

THE Philippine Stock Exchange revamped its sectoral indices, admitting three new companies and removing one, while leaving the benchmark 30-member PSE index (PSEi) intact.

THE peso strengthened on Friday, returning to its P51-a-dollar level on the back of the expected 25-basis-point policy rate cut by the central bank on Thursday despite weaker-than-expected economic growth in the second quarter.

THAILAND’S Bank of Ayudhya (Krungsri) will buy a 50% stake in Security Bank Corp.’s consumer finance unit in a bid to boost its loan portfolio and expand retail offerings, the Philippine lender said in a statement on Friday.

PHILIPPINE National Bank’s (PNB) earnings fell to P3.9 billion in the six months to June from P5.4 billion a year earlier, which included a one-time gain from the sale of foreclosed assets, the lender said in a statement on Friday.

THE CENTRAL BANK’s policy-setting body on Thursday cut benchmark interest rates by a quarter percentage point, as well as the inflation forecast this year and next, hours after the Philippine Statistics Authority (PSA) reported that the economy grew at the weakest pace in four years in the second quarter and two days after the PSA said that July inflation was the slowest in two-and-a-half years.

THE ECONOMY expanded at its slowest pace in 17 quarters in the April-June period, weighed down by reduced private investments as well as tempered household and government spending, the Philippine Statistics Authority (PSA) reported on Thursday.

PLDT, Inc. reported a 13% increase in earnings in the second quarter, as its consumer wireless business showed strong growth.