Energy department declares Cebu’s Alegria field commercially viable

The Department of Energy (DoE) issued a declaration of commercial viability on Wednesday for the Alegria oil and gas field in southern Cebu, with production estimated to last until 2037.

San Miguel PureFoods consolidated net income reaches P6.9B in 2017

San Miguel PureFoods Company, Inc. (SMPFC), the food and beverage arm of conglomerate San Miguel Corp. (SMC), posted a consolidated net income of PHP6.9 billion in 2017 from PHP6 billion in 2016.

PH to launch Panda bond soon

The Philippines is set to launch its planned RMB 1.46 billion-worth Panda bond soon, Finance Secretary Carlos Dominguez III said.

Tesla’s electric motor shift to spur demand for rare earth neodymium

Tesla’s shift to a magnetic motor using neodymium in its Model 3 Long Range car adds to pressure on already strained supplies of a rare earth metal.

FDIs in PH pierce 2017 goal to hit fresh peak

FDIs pierced a full-year official target to hit “a record high” last year despite falling to a five-month low in December, the Bangko Sentral reported on Monday, even as central bank data show bigger inflows elsewhere in Southeast Asia and a report of the OECD called for reforms to attract more capital.

PCSO charter needs amendments to remove 20% tax on lottery winnings: BIR expert

With the TRAIN law now implemented, there is no recourse but to request Congress to file amendments to Republic Act 1169, the Charter of the PCSO, if the agency wants its lottery winning prizes to be exempted from the 20 percent tax, according to tax experts. The TRAIN law requires 20 percent tax on all PCSO lottery games prizes if the amount of the winning is above P10,000.
A multi-million investment is coming to the Autonomous Region in Muslim Mindanao (ARMM), particularly in Maguindanao, this year, an investment official announced Saturday.

Trump sets steel and aluminum tariffs but exempts Mexico, Canada

President Donald Trump pressed ahead with the imposition of 25 percent tariffs on steel imports and 10 percent for aluminum on Thursday but exempted Canada and Mexico, backtracking from earlier pledges of tariffs on all countries.

Grab in advanced talks to buy into Uber’s Southeast Asia business – source

Southeast Asia’s biggest ride-hailing firm, Grab, is in advanced negotiations to buy parts of Uber Technologies Inc’s business in the region, said a source with knowledge of the talks, in what would be Uber’s second retreat from an Asian market.

D.M. Wenceslao & Associates plans IPO

D.M. Wenceslao & Associates, Incorporated (DMWAI), the 53-year-old integrated property developer and construction company of the Wenceslao family, has filed with the Securities and Exchange Commission and the Philippine Stock Exchange applications in connection with its planned initial public offering (IPO) to raise as much as P15.5 billion.

Manufacturing posts double-digit growth in January

Manufacturing output posted double-digit growth in both volume and value terms in January 2018, recovering from a series of declines in the last months of the previous year, the government reported on Tuesday.

Philippine inflation to ease despite uptick in February: BSP

The Philippine central bank poured cold water on the prospect of an interest rate hike, maintaining on Tuesday that annual inflation would ease to its target next year, despite the faster rate in February.

Robotics is key to continuing competitiveness of PH industry – Universal Robots

Universal Robots, the world’s leading collaborative robotics company, has forged a partnership recently with Asia Integrated Machine, Inc. (AIM).