Business

Lucio Co scouting for more firms

MANILA - Cosco Capital Inc., the investment vehicle of the Lucio Co group of companies, is on the lookout for companies that it can acquire for the group.

Foreign direct investments seen rising in H2

MANILA, Philippines - The upswing in foreign direct investments (FDI) last February could be an indication of more to come in the second half of the year, following the country’s promotion to investment-grade status, an investment bank said.

P30 billion coal plant to rise in Mindanao

MANILA, Philippines - The power generation arm of GT Capital Holdings Inc. is jumpstarting its partnership with Manila Electric Co. (Meralco) through a P30-billion investment for a coal-fired power plant.

Incoming congress asked to ease foreign ownership limits

MANILA -- The Management Association of the Philippines said it will ask the incoming 16th Congress to revive debates on easing constitutional restrictions on foreign ownership.

Megaworld taps award winning designer for Makati condo

MANILA -- Megaworld Corp. has tapped international design firm Gettys for its high-end residential condominium One Central located in Makati City.

Gov't ready to prepay 300M dollar worth of ODAs

MANLA -- The government is set to prepay $300 million worth of official development assistance (ODA) this year, National Treasurer Rosalia de Leon said.

RCBC's profits grow 16 percent in Q1

MANILA -- Rizal Commercial Banking Corp. saw its unaudited consolidated net income jump 16% to P1.77 billion in the first quarter from P1.53 billion last year.

DA, DOLE offer P2B worth of agri loans for OFWs

MANILA -- The departments of agriculture and labor have launched a P2-billion loan facility meant to attract overseas working Filipinos (OFWs) to undertake agribusiness ventures.

Analyst says investors satisfied with conduct of polls

MANILA -- A stock market analyst said investors were generally satisfied with the conduct of the mid-term elections.

ICTSI plans 200M dollar offering

HONG KONG -- Port operator International Container Terminal Services Inc. plans to raise up to $200 million in a share offering in the Philippines for general corporate purposes and capital expenditures, according to a term sheet of the deal seen by Reuters on Tuesday.