RFM approves additional P300M share buyback

Concepcion-Araneta-led RFM Corp. has budgeted an additional P300 million for its ongoing share repurchase program.

This reflects the owners confidence in the company?s prospects.

RFM grew its third quarter profit by 20 percent to P211 million as revenues increased seven percent to P3.16 billion.

The company has earmarked P1 billion for the expansion of its ice cream joint venture with Unilever. It also set aside P250 million for the refurbishment of its flour mills.

Aboitiz family gets US funding for 3GW wind power feasibility study

The Philippines’ bid to increase the share of renewable energy among its sources got a boost following the awarding of a grant by the US government to Aboitiz Renewable Inc. which is seeking to conduct a feasibility study to develop up to three-gigawatt wind power capacity.