Biz Buzz: Manolo’s swan song
2012/05/14
When shareholders of Manila Electric Co. gather for their annual meeting this May 29, it will be the last time Ambassador Manolo Lopez, 69, will address them as chair. Lopez was chair and chief executive officer of Meralco until 2010, when the First Pacific group bought out most of the Lopezes’ stake and installed Manuel V. Pangilinan (MVP) as the new CEO.
Mindanao landowners seek payment for Transco land use
2012/05/14
Non-government organization Pilipinas Para sa Pilipino Inc. (PPP) has asked state-run National Transmission Corp. (Transco) to stop charging transmission fees to electricity consumers in Mindanao, until after the right-of-way issue affecting some 122 landowners has been settled.
Napocor seeks rate hike to fund off-grid units
2012/05/14
State-run National Power Corp. (Napocor) is seeking to collect an additional 6.79 centavos per kilowatt-hour from all electricity consumers connected to the main grids, to help fund the power firm’s operations in far-flung, remote islands and ensure adequate supply of electricity.
Security Bank income hit P1.1B in Q1
2012/05/14
Security Bank Corp. grew its first-quarter net profit by 8.2 percent to P1.1 billion on the back of a robust growth in core lending business.
Oil firms slash prices; biggest rollback yet
2012/05/14
Local oil companies have slashed the prices of their petroleum products starting Sunday to reflect the continued softening of the international oil market.
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