PEZA-approved outlays hit P14.9 billion in May, poised for 10% growth

THE PHILIPPINE Economic Zone Authority (PEZA) on Monday said it is on track to hit its 10% growth target for approved investments this year, after greenlighting P14.93 billion worth of 20 new and expansion projects in May. This brought PEZA’s approved investments for January to May to P48.03 billion, which is 2.5 times higher than […]

Philippine credit card delinquency rate falls

FREEPIK THE COUNTRY’S credit card delinquency rate dropped to 3.26% in the first quarter, even as credit card billings surged, the Credit Card Association of the Philippines (CCAP) said on Monday. The rate, which refers to the percentage of borrowers who fail to pay the minimum amount due, has been falling since peaking at 8.37% […]

AREIT to acquire five properties in swap deal

AYALA-LED real estate investment trust company AREIT, Inc. has signed the deed of exchange for a P22.48-billion property-for-share swap with Ayala Land, Inc., Ayalaland Malls, Inc., and Northbeacon Commercial Corp. In a regulatory filing on Monday, AREIT said 607.56-million primary common shares will be issued to the companies at P37 apiece in exchange for flagship […]

ACEN secures regulatory nod to acquire Texas wind assets 

AYALE-LED ACEN Corp. said that the acquisition by its joint-venture company UPC Power Solutions LLC of eight operating wind projects in Texas is nearing completion after it secured regulatory approval for the purchase of the assets. In a stock exchange disclosure on Monday, ACEN said the US Federal Energy Regulatory Commission (FERC) had given its […]

DMCI Power plans  to build wind farm  on Semirara Island

DMCI Power Corp. is planning to build a wind power plant on Semirara Island, its listed parent firm DMCI Holdings, Inc. told the stock exchange on Monday. “We are also looking at solar energy to augment the supply in the island, but we are prioritizing wind resource development because it has shown the most promise,” […]

AirAsia awaits delivery  of A321, A330 aircraft

LOW-COST carrier AirAsia Philippines expects the delivery next year of five A321s and five A330s Airbus aircraft apart from 20 leased planes to support its growth projection. “We are lucky that we have an order book of over 400 planes. The order book starts next year with the delivery of five A321s,” said Anthony Francis […]

Digital doubles, fake trailers: AI worries Hollywood actors before labor talks

ARTIFICIAL intelligence erased 40 years from Harrison Ford’s face for certain scenes in the newest Indiana Jones film, Indiana Jones and the Dial of Destiny. LOS ANGELES — A search for Wes Anderson on YouTube turns up trailers that the famed director with a distinctive style appears to have made for adaptations of Star Wars, […]