STEEL CONSUMPTION in Southeast Asia’s six biggest economies is estimated to have declined as much as 8.7% last year due to pandemic-driven lockdowns, and prospects for a quick rebound remain clouded, an industry group said on Thursday. As the economies of Indonesia, Malaysia, the Philippines, Singapore,

By Revin Mikhael D. Ochave, Reporter THE Securities and Exchange Commission (SEC) gave the go-signal for Investree Philippines, Inc. to start operating a crowdfunding platform that plans to link small, medium and emerging enterprises with banks and other lending institutions. In a statement on Thursday, the SEC

MERALCO PowerGen Corp. (MGen) has gained control over a solar energy company in Bulacan by acquiring its co-owner’s shares for P158.95 million, its parent firm Manila Electric Co. (Meralco) told the local bourse on Thursday. In a regulatory filing, power distributor Meralco said MGen unit MGen

STATE-RUN Development Bank of the Philippines (DBP) extended a P645-million loan to Hijo Superfoods, Inc. (HSI) to boost the local manufacturer’s coconut sugar and banana flour production for export. In a statement on Wednesday, DBP President and CEO Emmanuel G. Herbosa said the loan will fund

FILIPINO business reality show, The Final Pitch, enters its sixth season with calls for non-profit organizations, startups, and innovators that have new solutions to address pandemic-related challenges to submit their pitches to join the show. Called the “Heroes Edition,” the pitches will be screened by Li

LISTED Axelum Resources Corp. has allocated around P350 million for its capital expenditures (capex) in 2021 to support its growth amid the coronavirus disease 2019 (COVID-19) pandemic. In a regulatory filing on Thursday, the company said it had earmarked the said amount to fund the modernization

OVERSEAS WORKER deployments fell by up to 75% in 2020 as job markets shut down due to the pandemic while movement to work sites was hindered by travel restrictions, according to preliminary estimates issued by the Philippine Overseas Employment Administration (POEA). The agency’s administrator Bernard P.

By Revin Mikhael D. Ochave, Reporter PHILIPPINE SHARES closed higher on Thursday as market sentiment was lifted after the Democratic Party gained control of the United States (US) Senate and on the better showing of US markets. Ending its two-day skid, the 30-member Philippine Stock Exchange index

THE PESO weakened against the greenback on Thursday as oil prices rose, threatening a higher import bill for the country. The local unit finished trading at P48.07 per dollar yesterday, shedding 3.7 centavos from its P48.033 close on Wednesday, data from the Bankers Association of the

SPEAKER Lord Allan Q. Velasco on Thursday filed House Bill (HB) No. 8316, which authorizes the President to suspend scheduled increases in member contributions to the Philippine Health Insurance Corp. (PhilHealth) “in times of national emergency or when the public interest so requires.” The measure proposes

THE Department of Energy (DoE) said it expects the private sector to take the lead in building out the country’s liquefied natural gas (LNG) infrastructure, including terminals to receive imports, and will back efforts to “encourage” private groups to engage in such projects. DoE Head of

THE Enhanced Partnership Against Hunger and Poverty (EPAHP) program and the Department of Agrarian Reform (DAR) launched a new lending program that aims to support agrarian reform beneficiaries organizations to enhance food security initiatives. In a statement Thursday, DAR said EPAHP, through the Land Bank of