DoubleDragon Properties Corp. expects to generate P18.14 billion in revenues from the five projects of its subsidiary Hotel of Asia, Inc., the developer of Hotel 101. "Hotel 101 pipeline of inventory from secured prime titled land sites in Cebu, Libis, Boracay, Palawan and Bohol are expected to generate P18.14 billion in revenues," DoubleDragon said in a disclosure to the stock ...

Toyota Motor Philippines Corp. (TMP) on Friday launched its P4.7-billion Batangas Vehicle Center (BVC) in a sign of "strong confidence" in the local automotive industry ahead of the recovery from the pandemic. "This [center] is our renewed commitment to better days ahead. This is part of our joint efforts with the government, business sector and Filipino people to win the ...

https://www.sec.gov.ph/ The Securities and Exchange Commission (SEC) is studying the legal status of online investment entities such as crypto and play-to-earn gaming platforms under Philippine laws. In a televised briefing on Friday, SEC Commissioner Kelvin K. Lee said Axie Infinity, one of the more popular play-to-earn games, is not registered as a business at the SEC. He clarified, however, that ...

Multinational company Huawei Technologies Co., Ltd. on Friday said that it expects its smartphone business to lose up to $40 billion in revenue this year. "Our revenue from the smartphone business last year was around $50 billion. This year that number would at least drop by $30 to $40 billion," Huawei Rotating Chairman Eric Xu said at a virtual media ...

The Bangko Sentral ng Pilipinas (BSP) said its net income was P48.71 billion in the seven months to July, up 250%, as revenue nearly doubled due to a strong trading performance as well as interest and fee income. According to preliminary BSP data, earnings grew from P45.44 billion posted in the first half. Revenue rose 95.3% to P107.75 billion at ...

Home Development Mutual Fund, which trades under the brand Pag-IBIG, said it released P58.52 billion worth of home loans in the eight months to August. In a statement Friday, Pag-IBIG said home loans for the first eight months rose 96% from a year earlier, and went out to 57,235 members. Pag-IBIG said members' savings under the voluntary Modified Pag-IBIG 2 ...

Reuters China's central bank said all cryptocurrency-related transactions are illegal and must be banned, sending the strongest signal yet on its determination to crack down on the industry. All cryptocurrencies, including Bitcoin and Tether, are not fiat currency and cannot be circulated on the market, the People's Bank of China said on its website. All crypto-related transactions, including services provided ...

PHILIPPINE STAR/ KRIZ JOHN ROSALES The peso continued to weaken against the dollar Friday on lingering inflation concerns after the central bank raised its medium-term projections for inflation. The peso closed at P50.65 against its P50.34 finish on Thursday, according to the Bankers Association of the Philippines. The peso opened at P50.32, with the low at P50.67 and the high ...

BLOOMBERG The Department of Finance (DoF), which is now overseeing the Philippine Crop Insurance Corp. (PCIC), said its goal is to make the company less reliant on subsidies and provide broader coverage to respond to the threat of climate change. Finance Secretary Carlos G. Dominguez III, recently named the chairman of PCIC, told board members that the top priority for ...

The average spot market price fell 35% month-on-month to P3.10 per kilowatt hour (/kWh) in the first three weeks of September due to improved supply, according to the Independent Electricity Market Operator of the Philippines (IEMOP). The drop was due to "an increase in the supply margin," IEMOP Manager for Market Simulation and Analysis John Paul S. Grayda said in ...

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