Tetangco Pilipinas Shell Petroleum Corporation (PSPC) is pleased to announce the election of former Bangko Sentral ng Pilipinas (BSP) Governor Amando M. Tetangco Jr. as a new independent member of PSPC’s Board of Directors effective May 11, 2021. Mr Tetangco’s board election increased the number of PSPC independent directors to four joining the distinguished roster of Cesar A. Buenaventura, Fernando ...

The Philippines’ gross domestic product (GDP) fell by an annual 4.2% in the first quarter. — PHILIPPINE STAR/ MICHAEL VARCAS THE PHILIPPINE economy contracted more than expected in the first quarter, extending the  recession to five straight quarters as the pandemic dragged on, data from the Philippine Statistics Authority (PSA) showed on Tuesday. The country’s gross domestic product (GDP) fell ...

Socioeconomic Planning Secretary Karl Kendrick T. Chua earlier on Tuesday said the seven-week long lockdown in Metro Manila and adjacent provinces pose a downside risk to the government’s growth targets for 2021. — PHILIPPINE STAR/ MICHAEL VARCAS By Beatrice M. Laforga, Reporter THE Philippine economy may have to grow by at least 10.1% in the remaining three quarters to reach ...

PRESIDENT Rodrigo R. Duterte placed the Philippines under a state of calamity for one year due to the spread of African Swine Fever. — PHILIPPINE STAR/ MICHAEL VARCAS By Kyle Aristophere T. Atienza and Revin Mikhael D. Ochave, Reporters PRESIDENT Rodrigo R. Duterte has approved measures seeking to boost the supply of pork in the country as the domestic hog ...

Car sales were affected by the reimposition of stricter lockdown measures in Metro Manila and adjacent provinces. — PHILIPPINE STAR/ MICHAEL VARCAS VEHICLE SALES surged in April from the extremely low base a year ago when Luzon was placed under the strictest form of lockdown, according to industry data. A joint report from the Chamber of Automotive Manufacturers of the ...

DMCI Holdings, Inc. reported on Tuesday a consolidated core net income of P4.1 billion in the first quarter, or more than four times the level a year ago, with the “exceptional” performance of its real estate and mining units. “We had a better-than-expected Q1 (first quarter) because of higher construction accomplishments and better coal sales. With the exception of Maynilad, ...

PILIPINAS Shell Petroleum Corp. expects to see demand for fuel products to go back to pre-COVID-19 levels by 2022 if the government’s health measures turn out positively, company officials said. “We are aspiring to grow our… earnings in line or at least higher than the projected GDP (gross domestic product) growth rates of the country. If the government health measures ...

LT Group, Inc. (LTG) posted a 4.5% growth in net attributable income to P6.49 billion in the first quarter, it said on Tuesday, with the tobacco business largely boosting the listed conglomerate of Lucio C. Tan. In a statement, LTG said its tobacco segment accounted for P5.01 billion or 77% of the company’s total attributable income, while its net income ...

GROCERY operator Puregold Price Club, Inc.’s net income grew by 14.6% to P2.02 billion in the January-to-March period from P1.76 billion year on year despite posting a decline in net sales. “This was principally driven by the continuous organic expansion of the group’s grocery retail outlets, strategic cost management, and sustained consumer demand,” Puregold said in a regulatory filing on ...

FOR a collective of six photographers, the past year under quarantine has allowed for introspection and the development of new ideas from observing events in the country and the world as they remained indoors. Established in 2020, Strange Fruit is composed of photographers Jes Aznar, ESL Chen, Jason Quibilan, Veejay Villafranca, Francisco “Paco” Guerrero, and Raena Abella. The name Strange ...

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