John Gokongwei, owner of the Universal Hotels and Resorts Incorporated (UHRI), has pledged to finance 18 billion pesos for the casino venture that he will be constructing in Cebu. He plans to build the project in the South Road Properties of Cebu, indicating the conglomerate's thrust toward the gaming industry.
Strong growth was steadily recorded for remittances in January. Personal remittances from land-based workers recorded $2.65 billion, while cash remittances booked $1.9 billion. The sum of money remitted by sea-based workers hiked to $500 million.
Ayala Corporation is taking the digital workforce into the Philippines through its services and solutions company HCX Technology Partners, Inc. HCX has entered into an exclusive partner agreement with Automation Anywhere, Inc.
Christopher Po resigns from his position of CEO, President, and Chairman of the Century Pacific Food Incorporated (CNPF). However, he will be taking the role as an executive chairman so that he may be able to focus on the growth strategy of the company.
A unit of First Gen Corporation has made an agreement with Meralco to supply baseload power from its power plant in San Gabriel, Batangas. First NatGas Power Corporation made a power supply agreement (PSA) with Meralco for the purchase and sale of roughly 414-megawatt baseload capacity.
The SM Group has taken a step closer to executing its reclamation project, Future City, worth 100 billion pesos. The SM Group recently acquired an ECC, which is required to begin the project. The Future City will be established in a property of 600 hectares covering cities of Parañaque and Pasay.
The Security and Exchange Commission (SEC) the motion filed by Krops to revoke the suspension and abstain order released opposed to the initial coin offering of Krops, for the reason that the offering composed of securities, thus hence, must first be registered with the SEC.
Aboitiz Equity Ventures (AEV) presented an unsolicited proposal of 148 billion pesos yesterday to commence modernization of four main regional gateways in a span of 35 years. Aboitiz proposed to develop, expand, and manage airports which are main access areas into the Visayas and Northern Mindanao.
PCC issued a ruling that nullifies and voids the transaction of the Udenna Corporation owned by Dennis Uy last month. The commission determined that Udenna Corporation did not advise the PCC of the company's transactions with KGL Investment Cooperatief U.A. in 2016.
With the implementation of the new tax reform law, or the TRAIN law, the public starts to experience the higher excise tax. NEDA stated that the administration must stay observant and make preparations to execute solutions that will reduce the upside risks to inflation.