Megawide Construction Corp. registered a net loss of P321.16 million for the third quarter, a reversal from the attributable net profit of P63.86 million last year. The company’s total revenues for the third quarter dropped by 52% to P2.62 billion, Megawide said in a disclosure to
ALLIANCE GLOBAL Group, Inc. (AGI) on Friday reported an attributalbe net profit of P2.03 billion in the third quarter as the looser quarantine measures and gradual reopening of the economy brought improved quarterly results for the Andrew L. Tan-led holding firm. Although lower than the P4.73-billion
Filinvest Land, Inc. (FLI) registered a 40% decline in attributable net income to P2.73 billion for the January-September period, as the pandemic’s impact on home sales continued to hurt its financial performance, it said in a press release on Friday. Gross revenues declined by 32% to
Workers maneuver backhoes at a mine site of Global Ferronickel Holdings, Inc. -- GLOBAL FERRONICKEL HOLDINGS
Caffè Nero has been forced to launch a restructuring of its business following the second lockdown. The coffee chain is launching a Company Voluntary Arrangement (CVA) which will allow it to renegotiate terms with its landlords and other creditors. Caffè Nero, which employs 6,000 workers, said “the
Tesco has apologised to its online customers unable to get on its website as the supermarket seeks to cope with high demand for Christmas bookings. The UK’s largest retailer has had to install a queuing system online to help it to manage the demand. Some customers complained
By Beatrice M. Laforga, Reporter The Philippines is expected to experience the worst economic contraction this year among five economies of the Association of Southeast Asian Nations (ASEAN-5) after failing to contain a coronavirus pandemic that could further limit spending and investment, according to the Organization
Many are now familiar with the recent changes to the Coronavirus Job Retention Scheme (commonly referred to as the “Furlough Scheme”) but keeping track with the updated statements; guidance notes and Treasury directions issued by the Government can, for many employers, be a difficult task. Partner
Investments in the country’s economic zones fell by more than a quarter to P72.6 billion in the 10 months through October amid a coronavirus pandemic, according to the Philippine Economic Zone Authority (PEZA). The number of projects dropped by 45% to 248, PEZA Director-General Charito B.
By Beatrice M. Laforga, Reporter Philippine dollar reserves rose to a fresh record of $103.814 at the end of October, boosted by the central bank’s foreign exchange operations. The gross international reserves rose by 3.35% from a month earlier, based on documents sent by Bangko Sentral ng
The Philippine central bank fully awarded P60 billion short-term securities it offered on Friday due to strong liquidity. The Bangko Sentral ng Pilipinas (BSP) fully awarded the 28-day bills from tenders worth P88.9 billion, making the auction 1.48 times oversubscribed, it said in a statement posted