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BPO industry poised for rebound

THE Philippine business process outsourcing (BPO) industry is headed toward a resurgence in 2019, as the rise in wages in the United States coupled by the weaker peso are encouraging multinational firms to move back to the country.

MRC Allied to boost solar energy generation capacity

MRC Allied, Inc. targets to add 42 megawatts (MW) from solar power plants to its portfolio in 2019, as it boosts its solar energy generation capacity.

Local shares join global rout on trade worries

THE LOCAL BOURSE took a dive on Monday as trade tension between the United States and China pummeled market sentiment across the globe.

Robinsons to open 51st mall in PHL

ROBINSONS Land Corp. (RLC) is set to open a new mall in Bukidnon this Wednesday, Dec. 12, as part of the company’s goal to establish its presence in emerging economic hubs in the country.

Shareholder asks SEC to stop Tiger’s tender offer

A SHAREHOLDER of Asiabest Group International, Inc. (ABG) has asked the Securities and Exchange Commission (SEC) to stop Tiger Resorts Asia Ltd. (TRAL) from conducting a tender offer for its planned backdoor listing, citing the company’s failure to disclose a legal dispute with Japanese casino tycoon Kazuo Okada.

Megaworld targets P8-B sales from Makati project

MEGAWORLD Corp. looks to generate P8 billion in sales from its latest condominium which is set to become one of the tallest residential towers in Makati City.

PSE banks on better inflation data sinking in

LOCAL SHARES may climb in the week ahead as investors -- in the absence of any untoward foreign development -- digest recent signs that inflation began to slow in November, accompanied by a stronger peso.

Delay in PEZA approvals hampers BPO sector expansion

EXPANSION of the business process outsourcing (BPO) sector next year may be hampered by the continued delay of the Philippine Economic Zone Authority (PEZA) in approving applications, according to Colliers International Philippines.

Court recalls arrest warrants vs Alliance Select execs

ALLIANCE Select Foods International, Inc. said the warrants of arrest against its incumbent officials have been recalled, after a Pasig court upheld that these violated their right to due process.

Shares slump as Huawei CFO’s arrest causes jitters

STOCKS tumbled on Thursday as investors were concerned the arrest of a top executive of Chinese telco giant Huawei could further flare up trade tensions between China and the United States.

Ayala to reintroduce Kia to Philippine market

AC Industrial Technology Holdings, Inc. (AC Industrials) has sealed the deal to distribute Kia vehicles in the Philippines, expanding the number of auto brands under its portfolio.

PSEi expected to reach 8,300 level by end-2019

BPI Securities Corp. projects the local bourse to reach the 8,300 level by the end of 2019, driven by a rebound from the consumer sector on expectations of slower inflation next year.

Melco Resorts to delist shares from Philippine stock market

MELCO RESORTS and Entertainment (Philippines) Corp. (MRP) expects its public float to fall below the required percentage after the completion of its majority shareholder’s tender offer, making it eligible to be removed from the local bourse.

Stocks drop as Wall St. sinks on recession fears

LOCAL SHARES fell on Wednesday, reflecting the steep decline of markets in the United States pulled down by fears of a recession alongside the return of trade war fears.

8990 Holdings allocates P10 billion for 2019 capex

MASS HOUSING developer 8990 Holdings, Inc. will be spending about P10 billion in capital expenditures next year as it builds up its hospitality portfolio.

DMCI completes Pasig condo 8 months ahead of schedule

DMCI Project Developers, Inc. has completed the construction of its Mirea Residences project in Pasig City eight months ahead of schedule, allowing unit owners to move in earlier than expected.

PSEi climbs to 7,700 level ahead of inflation data

THE MAIN INDEX rallied to the 7,700 level on Tuesday, driven by the optimism from the truce between China and the United States alongside expectations of tamer inflation for the month of November.

Holcim PHL to spend nearly $300M on capacity expansion

HOLCIM PHILIPPINES, Inc. is allocating almost $300 million to hike capacity by a third by 2020, banking on the rollout of the government’s infrastructure program.

CIC acquires tech start-up

CONCEPCION INDUSTRIAL Corp. (CIC) is investing in tech start-up Teko Solutions Asia, Inc., which has core interests in the appliance service and repair business.

Telco line issues delay PHL stock market opening for nearly 1...

TRADING AT the local stock market was delayed for almost an hour on Monday due to telecommunication line issues, according to a top official.

Stocks surge as US, China suspend new tariffs

LOCAL EQUITIES surged on Monday, as investors cheered the United States and China’s decision to suspend the imposition of new tariffs until next year.

D&L allocates P8 billion to construct new plants

D&L Industries, Inc. (DNL) is pouring in about P8 billion to build new plants and storage tanks in Batangas to triple its current capacity, as the company targets to grow its export business in the following years.

SEC releases rules for ASEAN advisor pass

THE Securities and Exchange Commission (SEC) has released the proposed guidelines to implement the ASEAN Capital Markets Forum (ACMF) Pass, which seeks to allow the free movement of investment advisers within the Association of Southeast Asian Nations (ASEAN).

Shares likely to rise on seasonal spending surge

SHARES are seen to rise in the week ahead as the seasonal consumer spending uptick kicks in, alongside expectations of slower inflation for November.

AEV chairman Jon Ramon Aboitiz passes away

Aboitiz Equity Ventures, Inc. (AEV) Chairman Jon Ramon M. Aboitiz passed away on Friday, Nov. 30. He was 70, according to a company representative. Mr....

DMCI property unit on track to hit P40-B reservation sales

THE property unit of DMCI Holdings, Inc. remains on track to reach its P40-billion target for reservation sales this year, following the strong demand for its projects in Mandaluyong and Pasig.

SM unveils business continuity program facility for partners

SM PRIME Holdings, Inc. unveiled on Thursday a business continuity program (BCP) facility for its partners to enhance their protection and preparedness against natural disasters.

Main index ends lower on profit taking after rally

THE MAIN INDEX tumbled on the last trading day of November, failing to sustain early morning gains due to the MSCI rebalancing and dovish comments from the US Federal Reserve chief, accompanied by window dressing.

Megawide secures P10-billion contract for Mandani Bay Quay project

MEGAWIDE Construction Corp. secured a P10.1-billion contract to construct Mandani Bay Quay Phase 2 in Mandaue City, Cebu, allowing it to breach its target for new contracts this year.

SEC requires companies to declare beneficial owners

THE Securities and Exchange Commission (SEC) has issued a memorandum circular directing companies to declare their beneficial owner to ensure that they will not be used for money laundering and terrorist financing purposes.

Manila Water inks agreements for two water districts in Iloilo

MANILA WATER Company, Inc. (MWC) has been awarded joint venture agreements by Lambunao Water District (LWD) and Calinog Water District (CWD) for two separate water supply systems in the province of Iloilo.

PSEi declines on concerns over reenacted budget

STOCKS CORRECTED on Wednesday, ending a four-day winning streak as investors assessed how a pause on public works could affect the implementation of new projects next year.

Cal-Comp starts expansion of facility in Lipa City

THE local unit of Taiwan’s New Kinpo Group has started the construction of its 24,000-square meter (sq.m.) facility in Batangas, in line with the goal to double its workforce in the country by 2020.

Vista Land keeps AAA issuer rating

VISTA LAND & Lifescapes, Inc. (VLL) retained its triple A issuer rating from local debt watcher Credit Rating Investor’s Services Philippines, Inc. (CRISP).

JG Summit’s P30-B bonds secure PRS Aaa rating

LOCAL DEBT watcher Philippine Ratings Services Corp. (Philratings) maintained its PRS Aaa rating for JG Summit Holdings, Inc.’s (JGSHI) P30-billion bonds.

SEC, PNP arrest 12 people behind investment scam

THE Securities and Exchange Commission (SEC) and the Philippine National Police (PNP) cracked down on a group called GDM Finance Sarl, which the corporate regulator found to be soliciting investments illegally.

Local stocks up as Cyber Monday boosts Wall St.

SHARES CLIMBED on Tuesday despite mostly negative trading for most of the session, driven by the rally of retailer stocks in Wall Street on Cyber Monday.

EEI makes P81-M investment in Japanese firm

EEI CORP. valued its investment in food manufacturer Biotech Japan Corp. at P81 million, as part of the company’s diversification strategy.

Solid Cement secures $75-million loan for new Antipolo plant

CEMEX Holdings Philippines, Inc. (CHP) has secured a subordinated revolving loan worth up to $75 million to finance its new plant in Antipolo, Rizal.

Energy Development Corp. to be delisted on Nov. 29

LOPEZ-LED Energy Development Corp. (EDC) will officially be removed from the Philippine Stock Exchange (PSE) on Thursday, Nov. 29.

PHL shares climb on month-end window dressing

LOCAL EQUITIES surged on Monday, bucking the sell-off in international markets last Friday, to make way for early window dressing for November.

Firms’ 3rd quarter results bare scars of inflation impact

ACCELERATING PRICES of goods crimped the growth of some of the country’s top conglomerates in the third quarter, as margins contracted due to higher input costs.

DMWAI sees strong MidPark sales

D.M. Wenceslao & Associates, Inc. (DMWAI) looks to generate P9 billion from its second residential project in Aseana City called MidPark Towers, banking on the demand for more housing units in the Bay Area.

CLI eyes P3B from 1st phase of The Paragon Davao

DAVAO CITY -- Cebu Landmasters, Inc. (CLI) expects to generate P3 billion in revenues from the first phase of its mixed-use project called The Paragon Davao, where it will be selling residential condominium and condotel units.

PSE seeks to ensure broker-dealers comply with 20% ownership limit

THE Philippine Stock Exchange, Inc. (PSE) has proposed to prohibit trading participants from buying shares in the exchange to ensure that they comply with the 20% industry ownership limit.