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Typhoon Yolanda caps Pepsi profit

Pepsi-Cola Products Philippines, Inc. (PCPPI) delivered a net income of P344 million for the second quarter of 2014, 11 percent lower than a year ago, as a result of competitive pricing, higher depreciation and amortization, and increased operating expenses. “The damage caused by Typhoon Yolanda continued to dent our profitability, however, its impact is lower […]

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Panama says a $5.3-B Canal expansion may not be big enough

A century after the US steamship Ancon first sailed through the Panama Canal, a $5.3-billion expansion delayed by bickering contractors and angry workers is nearing completion. The problem is it might not be big enough. With the expansion 16 months behind schedule, canal administrator Jorge Quijano said officials are studying whether to dig a fourth […]

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GT Capital net profit falls 24% to P4B in H1

GT Capital Holdings, Inc., the investment arm of the Ty family, reported a 34 percent drop in consolidated net income to P4.0 billion in the first semester of 2014 from the P6.1 billion attained during the same period last year due to lower banking, power and insurance earnings. In a disclosure to the Philippine Stock […]

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Closed Jollibee branches resume operations Sunday

The branches of Jollibee Foods Corp.’s (JFC) flagship brand that closed down due to unavailability of products are now all targeted to be open by Sunday with a still somewhat limited menu. In a statement, JFC announced that its operations are heading back to normalcy as all its branches across Metro Manila will be open […]

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Splash more than doubles income from P1.7-B sales

Splash Corporation reported that its net income for the first semester of 2014 more than doubled to P39.9 million as sales grew 5.1 percent to P1.7 billion compared to the same period last year. In a disclosure to the Philippine Stock Exchange, Splash said the doubling of net income came mostly from the increase in […]

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First Gen seeking tenders for gas supply delinked from oil

First Gen Corporation of the Lopez group is soliciting tenders for gas supply – preferably those de-linked with oil prices – to cater to the long-term fuel needs of its gas-fired power project expansions. For the 414-megawatt San Gabriel power project, First Gen president and chief operating officer Francis Giles B. Puno noted that they […]

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Philippines sees higher sugar production in 2014-15 crop year

Sugar output in the Philippines, a key United States supplier, has hit the government forecast of 2.45 million tonnes for the current crop year that ends in August and production in the next year is likely to be higher, the industry regulator said. “As of now, we’re still looking at 2.5 million metric tonnes for […]

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Travellers’ net profit jumps 25% to P2.9B

Travellers International Hotel Group, Inc. (TIHGI), owner and operator of Resorts World Manila (RWM), reported a 25 percent hike in unaudited consolidated net profit to P2.9 billion in the first half of 2014 from the P2.3 billion earned in the same period last year. In a disclosure to the Philippine Stock Exchange, the firm said […]

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PPA prioritizes release of cargo shipments

Releasing of perishable shipments will be prioritized in the congested ports of Manila to prevent delay in the delivery from causing food shortage and further fueling inflation. The Philippine Ports Authority (PPA) has ordered the operators of the Manila International Container Terminal (MICT) and the Manila South Harbor (MSH) to prioritize the release of food […]

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Atlas Mining reports P989-M net income in H1 on higher output

Atlas Consolidated Mining and Development Corporation reported a 32 percent rise in a net income to P989 million for the first half of 2014 even with lower realized copper and gold prices. In a disclosure to the Philippine Stock Exchange, Atlas said earnings rose as copper, gold and nickel sales volume sustained a growth of […]

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