Cemex earnings slump 93% on construction halt

EARNINGS of cement manufacturer Cemex Holdings Philippines, Inc. plunged 93% in the second quarter with the suspension of construction activity during the coronavirus-related lockdown.

ICTSI unit signs deal for Cameroon port terminal

LISTED International Container Terminal Services, Inc. (ICTSI) said its subsidiary in Cameroon signed on Tuesday the concession contract for the development, operation and maintenance of the multipurpose terminal of the Port of Kribi.

PSALM’s Malaya plant gets lone bid from former operator Soosan

THE former operator of the Rizal diesel-fired power plant owned by the state-led Power Sector Assets and Liabilities Management Corp. (PSALM) is the lone bidder for the generator’s service contract.

Cebu Pacific resumes flights to Seoul

BUDGET CARRIER Cebu Pacific announced on Tuesday the resumption of its flights from Manila to Incheon (Seoul), South Korea on Aug. 6.

How PSEi member stocks performed — July 28, 2020

Here’s a quick glance at how PSEi stocks fared on Tuesday, July 28, 2020.

J-Trec group bids for subway train sets

ONLY the joint venture of Sumitomo Corp. and Japan Transport Engineering Co. (J-Trec) submitted on Monday a bid proposal to provide train sets for the Metro Manila Subway Project Phase 1, the Transportation department said.

Meralco core profit down 14% in first half

MANILA ELECTRIC CO. (Meralco) saw its core net income dropped 14% to P10.6 billion in the first six months of the year with lower revenues and sales.

Pryce net income declines on LPG, crude price slump

PRYCE CORP. saw its after-tax income dropped in the first semester, pulled down by inventory losses from the slump in the prices of crude and liquefied petroleum gas (LPG) in the second quarter caused by the global coronavirus pandemic.

Lazada seller onboarding triples during lockdown

E-COMMERCE company Lazada Philippines has been adding three times more sellers daily into its platform during the lockdown compared to with the preceding months.

Explore overseas projects, construction firms told

CONSTRUCTION COMPANIES are being encouraged to explore overseas and outsourcing projects as they try to recover from the decline in projects during the lockdown.

Emperador earnings jump 24% on international demand

DESPITE a local liquor ban, brandy and whisky manufacturer Emperador, Inc. posted a 24% growth in profits during the second quarter due to the continued demand for its products overseas.

SEC bans, fines R&L external auditor for negligence in brokerage collapse

THE Securities and Exchange Commission (SEC) has disqualified the external auditor of R&L Investments, Inc. over its “gross negligence” that resulted in the emptying of the brokerage’s inventory of stocks.