EDC Inks JV Agreement with Alterra Power

Pasig—(PHStocks)—Energy Development Corporation (PSE: EDC) has signed a joint venture (JV) agreement with Alterra Power Corp., a Canada-based renewable energy company, covering the Mariposa Project in Chile and three geothermal projects located in Peru, namely Tutupaca, Loriscota and Crucero. The agreement sets the framework and main commercial principles for EDC’s potential acquisition of a 70% interest in each of the four projects. Completion of the transaction remains subject to the…
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Tags:Alterra Power , Crucero , EDC , Energy Development , Loriscota , Mariposa Project , Tutupaca
Bulls Fail to Lead Rebound for PH Stocks

Manila—(PHStocks)—Philippine stocks closed this week’s trading on a negative note as simultaneous profit taking and bargain hunting swamped the market. The Philippine Stock Exchange (PSE) index slid for the fifth straight session, losing 0.6% or 40.11pts to end Friday, 15 March, at 6,654.6. Nevertheless, the Industrials and Holding Firms managed to recover slightly, gaining 0.38% and 0.65%, respectively. The biggest loser was the Financials index, which shed 2.12%. The Property…
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Tags:AAA , AB , Aboitiz Power , AP , Asia Amalgamated , Asian Terminals , ATI , Atok-Big Wedge , BLOOM , Bloomberry , Calapan , CHIPS , Cirtek , EDC , Energy Development , H2O , Highlands Prime , HP , IMPB , Imperial Resources , iRipple , ISM , ISM Communications , Manila Bulletin , MB , Panasonic , Philippine National Bank , Philippine Stock Exchange , Philippine Stock Market , Philippine stocks , PMPC , PNB , PRIM , Prime Media , Primex , PRMX , PSE , PSE Index , PSE news , PSEi , PSEi news , RPL , San Miguel , SMC , TBGI , Transpacific Broadband , Wellex , WIN
PHStocks Week in Review: Selling High

Manila—(PHStocks)—Philippine stocks rode a series of widespread profit-taking this week amid new record highs. Strong macroeconomic fundamentals pushed the benchmark Philippine Stock Exchange index (PSEi) past the 6,700-mark on 25 February, closing at 6,721.33 – up by 56.27 points or 0.84%. This strong growth drove investors to cash in on their gains on 26 February, wiping the index’s gains made the previous day. PSEi closed at 6,630.67, down by 1.35%….
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Tags:7-11 , A Brown , AB , ABG , ACR , AgriNurture , Alcorn Gold , ALI , ALPHA , Alphaland , Alsons Consolidated , ANI , APM , ARA , Araneta , Araneta Properties , Asiabest , Asiabest Group , Atok-Big Wedge , Ayala Land , Bank of the Philippine Islands , BDO , BDO Unibank , BEL , Belle , BLOOM , Bloomberry , BMM , Bogo Medellin , BPI , BRN , CAT , Central Azucarera de Tarlac , Century Properties , CHIPS , Cirtek Holdings , CPG , DFNN , EDC , Energy Development , Far Eastern University , FEU , FGEN , Filinvest , Filinvest Land , First Gen , First Philippine Holdings , FLI , Forum Pacific , FPH , FPI , Ginebra , Ginebra San Miguel , GSMI , Highlands Prime , HP , Keppel , KPH , KPHB , Lafarge , Lopez Holdings , Lorenzo Shipping , LPZ , LRI , LSC , Luisita , Makati Finance , Manchester , Manchester International , Manila Jockey Club , Mariwasa SIAM , MFIN , MIH , MIHB , MJC , MMI , NI , NiHao Mineral Resources , OPMB , ore , Oriental Peninsula , Oriental Petroleum , PGOLD , Philex Mining , Philippine National Bank , Philippine Savings Bank , Philippine Seven , Philippine Stock Exchange , Philippine Trust , Phinma , PHN , PNB , PSB , PSE , PSE Index , PSEi , PTC , Puregold , PX , REG , Republic Glass , RLC , Robinsons Land , San Miguel , SCC , SECB , Security Bank , Semirara Mining , SEVN , SGI , Shang Properties , SHNG , SLF , SLI , SM , SM Development , SM Investments , SMDC , SMIC , SOC , Solid Group , South China Resources , Sta. Lucia Land , Starmalls , STR , Sun Life , TA , Trans-Asia Oil , UNI , Unioil Resources , United Paragon Mining , UPM , Vivant , VVT , Waterfront , WPI , Yehey!
EDC 2011 Net Income Down 86%

Pasig–(PHStocks)–Geothermal leader Energy Development Corporation (PSE: EDC) posted a cumulative net income of PhP615 million for the year ending 31 December 31 2011, 86% lower than the PhP4.4 billion declared in 2010. The non-cash impairment of PhP5 billion taken during the year on the Northern Negros Geothermal Project (NNGP) was the major contributor to the substantial decline in the company’s net income. Also contributing to the decline was the PhP1.2 billion of forgone steam…
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5,016.30 Points

Manila–(PHStocks)–Local shares made history this week as the bellwether Philippine Stock Exchange index (PSEi) stocks surge past the 5,000-point mark to close at 5,016.30 points – up 2.52% from last week and higher by 14.74% to date. At the close of trading day on Friday, 2 March, all counters were up, led by the Property index, which gained 2.26% from the previous day. The Holding Firms sector followed, gaining 2.12%….
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Tags:AAA , AC , AGI , ALHI , Alliance Global , Anchor Land , ARA , Araneta Properties , Asia Amalgamated , ATR Kimeng , ATRK , ATS , ATS Consolidated , Ayala , Bank of the Philippine Islands , BEL , Belle , BHI , Boulevard Holdings , BPI , CLOUD , DIZ , Dizon Copper Silver Mines , EDC , Energy Development , FFI , Filipino Fund , Forum Pacific , FPI , GMA , GMA7 , IMP , Imperial Resources , IP Converge , Leisure & Resorts , LR , Manchester International , Mariwasa SIAM , MIH , MIHB , MMI , National Reinsurance , NRCP , OPM , Oriental Petroleum , PHES , Philex Petroleum , Philippine Estates , Philippine Stock Exchange , PSE , PSE Index , PSEi , PXP , Seafront Resources , SPM , UNI , Unioil Resources , Universal Robina , URC , Vivant , VVT , Wellex Industries , WIN


