SEIPI Newsbytes | October 1, 2019

Schneider Electric launches first ‘HyperPod’ in PH

01-October • PNA News

SCHNEIDER ELECTRIC (PHILIPPINES), INC.MANILA — Schneider Electric, the leader in digital transformation of energy management and automation, on Tuesday launched its first containment solution in the Philippines that helps businesses become smarter consumers of energy.

With its newest innovation, “HyperPod”, the company transforms the way data centers are managed and maintained.

As more and more businesses continue to transform their operations and integrate different types of technology, information technology (IT) is being deployed rack by rack rather than server by server which scales up and takes up larger room spaces.

In a statement, Schneider Electric said its HyperPod enables data centers to be designed, deployed, and upgraded faster at a lower total installation cost.

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BSP expects 0.6-1.4% Sept. inflation

01-October • Business World

636277035242086786-InflationTHE OVERALL increase in prices of widely used goods could have clocked in at its slowest clip in at least three years last month, as a decline in rice prices and electricity rates was partly offset by higher prices of fuel at the pump and other food items, the Bangko Sentral ng Pilipinas (BSP) said on Monday.

“The BSP Department of Economic Research projects September 2019 inflation to settle within the 0.6-1.4% range,” the central bank told reporters in an e-mail.

“The continued decline in rice prices and the downward adjustment in electricity rates could be offset by the recent uptick in fuel prices as well as higher prices of selected food items due to weather disturbances during the month.”

The estimate range for September inflation — which the Philippine Statistics Authority will report on Oct. 4 — compares to August’s 1.7% and the year-ago 6.7% which was a nine-year high that was sustained in October.

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Brexit, economic reform put PHL on UK firms’ investment radar

01-October • Business World

ukBREXIT and the need for the UK to replace the potential loss of European trade will encourage British firms to put the Philippines on their investment radar, as will recent reforms in the Philippines, a British Chamber of Commerce Philippines official said.

“In light of Brexit, companies have been considering other markets across the globe. Of course, Europe in terms of proximity is always very close to the UK, and then I think what we’ve tried to highlight in particular is the specific benefits of the Philippines,” British Chamber of Commerce Philippines Executive Director and Trustee Chris Nelson told reporters at a media briefing on Monday.

He added that reforms such as the proposed amendments to Retail Trade Liberalization Act, the Ease of Doing Business Law, and the Build, Build, Build program were helping generate fresh interest, while demographic factors such as the young and growing population and the economy’s consumer orientation were also attractive.

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Meralco signs power supply agreements with partners for consumers’ gain

01-October • Philippine Star

MANILA ELECTRIC COMPANY (MERALCO)MANILA, Philippines — Manila Electric Company (Meralco) signed power supply agreements with partners First Gen Hydro Power Corp., Phinma Energy Corp. and South Premiere Power Corp. for the supply of 500 MW mid-merit capacity for five years starting December 2019.

The PSAs were awarded to the three winning bidders in accordance with the Department of Energy Circular which required distribution utilities to procure power through Competitive Selection Process (CSP).

“The resulting prices from the CSP are significantly lower than average generation cost today and are expected to save consumers P 4.4 billion annually for the next five years,” said Ray Espinosa, Meralco president and CEO.

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Aboitiz Power to issue P7- B worth of bonds

01-October • Manila Bulletin

ABOITIZ POWER CORPORATIONThe company announced that the offer period will start September 30 and will wind up on October 4 this year; while the issue date is on October 14.

The targeted bond issuance is part of the P30-billion fixed rate bonds that are under its shelf registration with the Securities and Exchange Commission (SEC). The offer and sale of the third tranche was approved last September 27.

The Aboitiz firm had engaged BDO Capital & Investment Corporation and First Metro Investment Corporation (FMIC) as joint issue managers; while BDO Capital, FMIC, China Bank Capital Corporation, SB Capital & Investment Corporation and PNB Capital & Investment Corporation as joint bookrunners and joint lead underwriters.

Additionally, the company tapped BDO Unibank – Trust and Investments Group as trustee and the Philippine Deposit & Trust Company as the registrar of the bond issue.

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