Net profits for 2017 of Semirara Mining and Power Corporation (SCC) grew by almost a fifth on stable prices and sales volume of coal and with higher production from the company's coal factory. SCC recorded a 14.14 Billion pesos strengthening the company's net profit.
Policy rates are foreseen to be increased by the BSP by 50 basis points (bps) this year because of the inflation hike. Two rate hikes are expected to happen: The first hike might happen in March and the second in June.
The Philippine Statistics Authority reported that the investment pledges of foreign firms incurred a double-digit decrease in 2017. The total amount for last year was lower by 51.8 percent, resulting to 105.6 billion pesos total, compared to the 219 billion pesos for 2016.
The Department of Finance (DOF) said that the recently imposed law, the Tax Reform for Acceleration and Inclusion (TRAIN) Act, may result in inflation hike during its first year of implementation by 0.7 percent points. This level, however, is still considered viable and minimal.
Oil companies have been cleared by the Department of Energy. Previously, it was reported that several oil firms increased their prices even before the implementation of the TRAIN Act last month. There are, however, three gas retailers that have violated the administrative rules.
According to the Mines and Geosciences Bureau (MGB), the Philippines's metal production gradually moved up to 109 billion pesos last year by 6 percent after a strong demand for and a better trend in prices of metals in the world. The value from last year was higher compared to the value from 2016.
A February 2018 report showed that the Philippines ranked 75th among 88 countries regarding LTE availability and 85th regarding LTE speed.
SM Prime Holdings, Inc. (SMPH) gathered a 16 percent increase in the company's net profit resulting to 27.6 billion pesos for 2017.
The Industrial and Commercial Bank of China (ICBC), the world's largest bank in terms of assets, will open up their branch in the Philippines.
SharePHIL requested the Securities and Exchange Commission to run an investigation against Calata Corporation's officials regarding their stock market transactions.