Market down; Bloomberry, BDO slip
Manila Standard Today - 2018-05-22
lost 1.5 percent to P37.25. Metro Pacific Investments Corp., which is into toll roads, water and electricity distribution, power generation and hospitals, fell 2.1 percent to P4.75, while BDO Unibank Inc., the biggest lender in terms of assets, dropped 1.4 ...

PSBank board approves P15-billion in debt paper
Manila Standard Today - 2018-05-22
Philippine Savings Bank, the thrift bank unit of the Metrobank Group, will issue up to P15 billion worth of long-term negotiable certificates of time deposits to pursue the expansion of the consumer banking business. The bank said in a disclosure to the ...

Rondina-Pons starts beach volleyball defense
philstar.com - 2018-05-22
MANILA, Philippines -- Sisi Rondina and Bernadeth Pons of Petron XCS gear up for a tough challenge as they start defense of their crown in the Philippine Superliga (PSL) Beach Volleyball Challenge Cup beginning today at Sands By the Bay in Mall of Asia.

Remembering the Marawi crisis
CNN Philippines - 2018-05-22
Metro Manila (CNN Philippines, May 23) -- The Muslim fasting month of Ramadan, which culminates with the Eid al-Fitr festival, is a time of reflection and celebration. But for residents of Marawi City, it brings back painful memories. This time last year ...

CariƱo brothers ride to historic finish
philstar.com - 2018-05-22
Yesterday, tackling a route they knew like the palm of their hands, El Joshua of Philippine Navy and kid bro Daniel of 7-Eleven Cliqq Roadbike Philippines realized their cherished aspirations and finished a 1-2 in the third stage of the ninth Le Tour de ...

AUB consolidated income climbs
BusinessWorld - 2018-05-22
"We remain confident that we have the momentum to grow the business further as we continue to cater to the needs of corporates and small and medium enterprises," AUB President Manuel A. Gomez was quoted as saying in the disclosure. On the other ...

AEV preparing for leadership transition
BusinessWorld - 2018-05-22
"As we move closer to a unified digital experience across the Aboitiz Group, we seek to transform our business through digital technology in order to enhance customer experience, improve our operational processes, and create new business models as an ...

AboitizPower aims to boost contracted capacity to contestable customers
BusinessWorld - 2018-05-22
ABOITIZ Power Corp. is targeting to increase its contracted capacity to contestable customers by at least 100 megawatts (MW) this year as it looks to target electricity users with consumption of at least 750 kilowatts, its president said. "You talk to ...

Airlines giving in to China's Communist rulers, despite White House protest
Fox News - 2018-05-22
The AP found that Air Canada, Lufthansa, British Airways, Finnair, Garuda Indonesia, Asiana Airlines, and Philippine Airlines all have changed the way they refer to Taiwan to bring their global websites in line with the Chinese Communist Party's vision.

LRT 1 continues to await government okay to increase fares
BusinessMirror - 2018-05-22
WHILE Light Rail Manila Corp. (LRMC) is making good on its promise to deliver quality service through better infrastructure based on key performance indices under its concession agreement, it wants the government to do its end of the bargain--a fare ...

Global Forum on Transparency and Exchange of Information for Tax Purposes
BusinessMirror - 2018-05-22
Among the observers are the Asian Development Bank, the International Monetary Fund ... Internal Revenue Service financial transactions of US persons. Accordingly, the Philippines adopted Republic Act 10021 on March 8, 2010, otherwise known as the ...

AUB, subsidiaries report double-digit profit growth in Q1
BusinessMirror - 2018-05-22
The Asia United Bank and subsidiaries, Cavite United Rural Bank and Rural Bank of Angeles in Pampanga, reported consolidated net income of P797.7 million in the first quarter of this year. This represented growth averaging 21.3 percent, from a year-ago level.

Fiery duel up in Masters
BusinessMirror - 2018-05-22
In Photo: Lt. Gen. Galileo Gerard Kintanar Jr. (second from right), commanding general of the Philippine Air Force, and Villamor Golf Club General Manager Guillermo Molina Jr. (right) pose with Luigi Tabuena, Philippine Golf Tour tournament director, and ...

Rondina, Pons favored
BusinessMirror - 2018-05-22
Rondina and Pons are billed as two of the best beach volley players in the country. But the road to the title will never be easy as they are up against a solid group of competitors. Rondina and Pons landed in tough Pool A together with powerhouse Cocolife ...

Century Properties eyes P13-billion sales from Batulao Artscapes
BusinessMirror - 2018-05-22
AFTER the smashing success of the first phase of the Batulao Artscapes project, Century Properties Group--through its leisure, tourism and hospitality business unit--is also bullish on the second phase, expecting P13 billion in presales proceeds of the ...

NAIA Consortium shortens period, lowers cost for airport rehab proposal
Rappler - 2018-05-22
The 7 partners are Aboitiz InfraCapital Incorporated, AC Infrastructure Holdings Corporation, Alliance Global Group Incorporated, Asia's Emerging Dragon Corporation, Filinvest Development Corporation, JG Summit Holdings Incorporated, and Metro Pacific ...

Real-estate industry wins in recent property awards
BusinessMirror - 2018-05-22
I had a chat with the big winners and partners of the recently concluded Philippine Property Awards, Megaworld, SM Keppel, Arthaland, Ortigas and Co., Damosa Land and JLL, as to why the Philippine retail industry is on the up and up and what regions in the ...

Real-estate industry wins in recent property awards
BusinessMirror - 2018-05-22
Along with its subsidiaries Global-Estate Resorts Inc. (Geri), Empire East Land Holdings Inc., and Suntrust Properties Inc., the Andrew Tan-led company earned a total of nine awards, including two in new categories. Aside from the Best Developer award ...

Market down; Bloomberry, BDO slip
thestandard.com.ph - 2018-05-22
Losers beat gainers, 110 to 78, with 45 issues unchanged. Casino operator Bloomberry Resorts Corp. declined 3.6 percent to P11.80, while SM Prime Holdings Inc. of retail tycoon Henry Sy Sr. lost 1.5 percent to P37.25. Metro Pacific Investments Corp., which ...

PSL beach volley champs Rondina, Pons aim to defend title
Rappler - 2018-05-22
MANILA, Philippines - Reigning champions Sisi Rondina and Bernadeth Pons of Petron XCS will be up against a tough competition when the Philippine Superliga (PSL) Beach Volleyball Challenge Cup unwraps on Tuesday, May 22, at Sands By the Bay in Mall of Asia.

GMA inks MOA with partners for Network Excellence Award
BusinessMirror - 2018-05-22
Averilla, University of the Philippines College of Mass Communication Foundation Inc. Executive Director Maria Angelica D. Abad, Angeles University Foundation President Dr. Joseph Emmanuel L. Angeles, GMA Network Excellence Award Ambassador Benjamin Alves ...

Techno-creative lab Digify Inc. joins Japan IT Week 2018
GMA Network - 2018-05-22
Digify, Inc., a subsidiary wholly owned by GMA New Media Incorporated (NMI), was part of the Philippine delegation supported by the Department of Trade and Industry (DTI) to the 28th Japan IT Week 2018, held from May 9 to 11 at Tokyo Big Sight, Tokyo ...

4 reasons to be excited about the National Museum of Natural History
CNN Philippines - 2018-05-22
Manila (CNN Philippines Life ... The museum hopes to bring in school groups to sit in on lectures by leading scientists. "Getting to know science firsthand, what it's like in the forest, diving underwater, and being out in the field and analyzing ...

Stocks continue slide on lack of leads
BusinessWorld - 2018-05-22
Shares stayed on negative territory on Tuesday, May 22, as trading remained slim due to lack of fresh leads. The 30-member Philippine Stock Exchange index (PSEi) fell 0.16% or 11.85 points to 7,646.20, remaining in the red for the third consecutive day.

LRT1 operator eyes P5 to P7-fare hike
Rappler - 2018-05-22
MANILA, Philippines - The operator of Light Rail Transit Line 1 (LRT1) is eyeing a fare hike ranging from P5 to P7. Light Rail Manila Corporation (LRMC) Chief Executive Officer Juan Alfonso said in a media briefing on Tuesday, May 22, that the hike is ...

PSBank plans to raise up to P15 billion through LTNCDs
BusinessWorld - 2018-05-22
Philippine Savings Bank (PSBank) is planning to raise up to P15 billion by selling peso-denominated long-term negotiable certificates of time deposits (LTNCD). In a disclosure to the Philippine Stock Exchange Tuesday, May 22, the thrift banking arm of Ty ...

Higher electricity bills for Filipino consumers starting June
Rappler - 2018-05-22
Manila Electric Company (Meralco), the Philippines' largest power distributor, has already been advised of the adjustment in the FIT-All rate. "[W]e need to implement it," said Meralco utility economics head Lawrence Fernandez. The new FIT-All rate is seen ...

Eight groups buy bid papers for Clark airport contract
Manila Standard Today - 2018-05-21
BCDA said Megawide-GMR Consortium, Metro Pacific Investment Corp., Filinvest Development Corp., San Miguel Holdings Corp., Prime Assets Venture, Central Luzon Infrastructure Consultancy Inc. Consortium, GVK Airport Developers Ltd., and Groupe ADP purchased ...

Stocks slip; BDO, Jollibee decline
Manila Standard Today - 2018-05-21
Losers beat gainers, 105 to 83, with 55 issues unchanged. BDO Unibank Inc., the biggest lender in terms of assets, declined 2.2 percent to P129.40, while Jollibee Foods Corp., the largest fastfood chain, slipped 1.8 percent to P280. SM Prime Holdings Inc ...

Aboitiz Power spending P62-billion to construct, acquire plants
Manila Standard Today - 2018-05-21
Aboitiz Power Corp. is spending P62 billion this year to build power projects led by the 1,336-megawatt coal-fired power plant in Diningin, Mariveles and acquire more energy assets. The company said it was looking at acquisition opportunities locally and ...

Emperador sees foreign units posting more revenues
Manila Standard Today - 2018-05-21
Emperador Inc., the liquor arm of tycoon Andrew Tan, expects the international liquor business to boost overall revenues in the coming months following a string of overseas acquisitions. Emperador president Winston Co said in an interview following the ...

Aboitiz Group bullish, bares expansion bid
Manila Standard Today - 2018-05-21
We aim to deliver on our brand promise of advancing business and communities through the various products and services we provide," Aboitiz Equity Ventures Inc. president and chief executive officer Erramon Aboitiz said in a statement. AEV and its ...

PAL, Lufthansa sign 12-year agreement
Manila Standard Today - 2018-05-21
Parent PAL Holdings Inc. earlier reported a lower net loss of P201.67 million in the first quarter from P533.97 million year-on-year. Total revenues in the first quarter rose 12.7 percent to P36.79 billion from P32.65 billion a year ago.

Aboitiz Equity sees higher cement output
Manila Standard Today - 2018-05-21
Conglomerate Aboitiz Equity Ventures Inc. expects the financial performance of its cement business to register significant improvement starting this year as demand started to pick up both in the public and private sectors. Aboitiz InfraCapital Inc ...

Prince Lee is long-distance king in PNG
Sun Star - 2018-05-21
Lee, a graduating Computer Engineering student in the University of Cebu (UC ... Rebalde, a daughter of farmers, is the youngest out of 12 siblings and is the only one who attends college. She will hunt for her third gold medal in the 400m dash today.

James Go appointed as Cebu Air chairman after Romulo resigns from board
BusinessWorld - 2018-05-21
Gokongwei, who is also president. Mr. Go also heads Oriental Petroleum and Minerals Corp., JG Summit Petrochemical Corp., JG Summit Olefins Corp., Universal Robina Corp., and Robinsons Land Corp. He is a director of PLDT, Inc. and the Manila Electric Co ...

The VenRay success story: A family affair in business
philstar.com - 2018-05-21
CityMall Danao); Mr. Eats AppleSeven Corp., ApplePie Corp (7 Eleven stores in AppleOne Equicom Tower and Southwestern University); Money Tree International Finance Corporation; International Cuisines Corporation (AppleOne Sky Lounge by Blue Elephant ...

Clark airport O&M attracts interest
BusinessWorld - 2018-05-21
JG Summit Holdings, Inc.; Halder & Associates; PAL Express; Samsung Electronics Co.; Aboitiz InfraCapital, Inc.; AirAsia Group; Evercon Builders and Equipment Corp.; and Miescor Logistics, Inc. BCDA said interested parties may buy bid documents until June ...

Cebu airport drives Megawide earnings higher
BusinessWorld - 2018-05-21
MEGAWIDE Construction Corp. delivered an 8% improvement in its attributable profit for the first three months of 2018, driven by the double-digit top-line growth from its airport business which offset the seasonally slow construction segment. In a ...

Republic Cement expects profits to recover
BusinessWorld - 2018-05-21
REPUBLIC Cement and Building Materials, Inc. expects profits to recover this year after higher input costs and intense competition put pressure on margins in 2017, as Aboitiz Equity Ventures, Inc. (AEV) pursues the expansion of its business units.

Sicogon Island to reopen in Q3
BusinessWorld - 2018-05-21
Ayala Land, Inc. (ALI) is transforming the 1,100-hectare island in Carles, northern Iloilo into "a thriving and inclusive resort community" that can serve as a jump off point to other beach destinations such as the Gigantes Group of Islands.

UnionBank sets up blockchain bank network
BusinessWorld - 2018-05-21
UNION BANK of the Philippines (UnionBank) is set to launch a clearing system that connects rural banks through blockchain technology. Dubbed as Project i2i which stands for island-to-island, institution-to-institution and individual-to-individual ...

Philex to spend P109-million for social development projects this year
thestandard.com.ph - 2018-05-21
The budget set aside for Poro Point, situated on the coastal village of Poro and where Philex Mining ships its copper concentrate from to a refinery abroad for further processing, includes all its SDMP, which involves community development through public ...

Now Corp. to offer P1-billion preferred shares to fund fiber-in-air service
BusinessMirror - 2018-05-21
NOW Corp. plans to offer up to P1 billion worth of preferred shares to finance the expansion of its fiber-in-the-air service. Based on a disclosure to the Philippine Stock Exchange (PSE), the company plans to sell 5 million preferred shares worth P500 ...

Antonio-led precast firm bags Puerto Rico project
BusinessMirror - 2018-05-21
Antonio, CEO of Revolution Precrafted. Antonio, also managing director of listed firm Century Properties Group Inc., added the Puerto Rico project would be implemented in two phases. For the initial phase, he said the two companies agreed to build a total ...

Hidalgo: Advanced developments a boom for Mindanao
Sun Star - 2018-05-21
It also intends to help in the development of the New Clark City in Pampanga where an alternative international airport is being built and where a new government center will also rise. OFID also plans to rehabilitate the Agus power plant system ...

Ababa wants to end slump at PH Masters
thestandard.com.ph - 2018-05-21
Jhonnel Ababa hopes to break a three-month slump with a solid game this week, seeking no less than a crack at the coveted ICTSI Villamor Philippine Masters crown when the P3 million event is fired off tomorrow (Wednesday, May 23) as its home at the ...

OFWs must save, insure and invest
BusinessMirror - 2018-05-21
Part of saving is the establishment of an emergency fund. This fund will be handy in case of job loss, job status change, adverse health conditions or key asset damage. In the case of the OFW, this fund can be equivalent to six to 12 months of the total ...

Local fuel prices at highest increase this year
BusinessWorld - 2018-05-21
"These reflect the movements in the international oil market," said Petron Corp. on Monday. All the companies that sent their advisories as of late afternoon yesterday said they would be raising prices at 6:00 a.m. today, May 22. Diesel products will ...

Ababa sets goal high
BusinessMirror - 2018-05-21
Jhonnel Ababa hopes to break a three-month slump with a solid game this week, seeking no less than a crack at the coveted International Container Termnal Services Inc. (ICTSI) Villamor Philippine Masters crown when the P3-million event is fired off ...