Jollibee seeks bite of Tim Ho Wan franchise
CNN Philippines - 2018-05-09
Metro Manila (CNN Philippines, May 9) -- Fast-food giant Jollibee Food Corporation (JFC) will invest in nearly half of the buyer of the dim sum chain Tim Ho Wan master franchise holder for Asia Pacific ... JFC's planned investment will result in a ...

Chelsea Logistics books P115-million net income
BusinessWorld - 2018-05-09
In addition, the Group also recognized equity share in the net income of 2GO Group, Inc. amounting to P11 million," the listed company said in a regulatory filing. Revenues increased by 91% to P1.179 billion in the first quarter, from P617 million a year ...

JFC shuts delivery websites due to vulnerabilities
BusinessWorld - 2018-05-09
JOLLIBEE Foods Corp. (JFC) on Wednesday took down the delivery websites of its flagship brand, as well as Chowking, Red Ribbon and Greenwich, after the National Privacy Commission (NPC) flagged security vulnerabilities of its online platform. The NPC on ...

Walmart makes big bet in India, pays $16B for Flipkart stake
Montreal Gazette - 2018-05-09
In China, where more than 700 million people are online, it has struggled to compete with homegrown online giants like Alibaba Group Holding Ltd. and local retail chains like Sun Art Retail Group Ltd. Walmart opened its first store in China in 1996 and has ...

Weak trade data add to growth risks
BusinessWorld - 2018-05-09
Ruben Carlo O. Asuncion, chief economist at the Union Bank of the Philippines (Union Bank) concurred: "Aside from coming from a higher base, this decline can be attributed to seasonal factors such as a temporary lull in demand," he said. For his part ...

Malls drive SMIC income 10% higher in Q1
BusinessWorld - 2018-05-09
BDO Unibank, Inc. reported a net income of P5.865 billion in the first quarter, up 1% from P5.83 billion during the same period a year ago. Profit derived from loans rose by a fifth year on year to P22.2 billion, after an 18% rise in loan volume to P1.8 ...

Jollibee invests in Tim Ho Wan franchise for Asia Pacific
BusinessWorld - 2018-05-09
JOLLIBEE Foods Corp. (JFC) will be investing S$45 million, or around P1.74 billion, on the private equity fund that bought the master franchise for Tim Ho Wan in the Asia Pacific, giving the homegrown food giant access to acquire another brand. In a ...

Private companies ink MOA with CCCI
Sun Star - 2018-05-09
Omnibus co-presentors include Cebu Holdings Inc., Ayala Center Cebu, PLDT Enterprise, Voyager, PayMaya, Robinsons Land Corp., Robinsons Galleria Cebu, SM Prime Holdings Inc., UnionPay International Southeast Asia, and Waterfront Cebu City Hotel and Casino.

First Gen targets nearly $200M in recurring profit this year
BusinessWorld - 2018-05-09
LOPEZ-LED First Gen Corp. expects its recurring net income in 2018 to reach ... including the selection of a partner this year and the start of construction next year. "Ideally, we bring in maybe at least one foreign partner and potentially local ...

Megaworld, Robinsons Land post double-digit Q1 growth
BusinessWorld - 2018-05-09
MEGAWORLD CORP. saw strong profit growth in the first quarter of 2018. -- MEGAWORLD CORP. PROPERTY firms in the country registered double-digit growth for the first quarter of 2018, buoyed by the generally positive prospects of the real estate industry.

Beyond Bitcoin: Global companies showcase business potential of blockchain technology
BusinessWorld - 2018-05-09
SINGAPORE -- Of all the buzzwords saturating the tech industry today, perhaps no other budding system is as veiled as blockchain. Essentially a distributed digital ledger, blockchain has become synonymous with its most popular application ...

SMIC Q1 net income rose 10% to P8.5 billion
BusinessMirror - 2018-05-09
SM Prime Holdings Inc. reported overall net income growth of 15 percent in the first quarter to P7.6 billion. Revenues for the residential group, led by SM Development Corp. (SMDC), increased 25 percent to P7.5 billion in the period and accounted for 32 ...

Jollibee buys Tim Ho Wan restaurant for P1.74 billion
BusinessMirror - 2018-05-09
LOCAL fast-food giant Jollibee Foods Corp. (JFC) on Wednesday said it is buying the master franchise for Tim Ho Wan restaurants in Asia Pacific. The company said its wholly owned unit Jollibee Worldwide Pte. Ltd. will invest up to $45 million Singapore ...

SMC Tollways offer free motorist assistance
CNN Philippines - 2018-05-09
Metro Manila (CNN Philippines, May 9) -- The San Miguel Corporation (SMC) Tollways will be providing free mechanic services every weekend, starting May 11 until the end of the month. This is part of the company's "RoadMap" project that hopes to promote ...

New Clark City design a showcase of PH identity
Sun Star - 2018-05-09
Real estate developer Filinvest Land Inc. seeks to improve the quality of life in New Clark City as it is now in the primary stages of transforming 288 hectares of land inside the new metropolis. "With the New Clark City, we are partnering with the ...

Petron-Metro partnership - 2018-05-09
Metro Retail Stores Group Inc. and Petron Corp. team up to allow loyalty card holders of Metro Rewards Card and Petron Value Card to gain more reward options for their accumulated points. Signing the partnership agreement are (from left) Petron national ...

Stock market down in thin trading - 2018-05-09
International Container Terminal Services Inc., the biggest port operator, lost 2.3 percent to P81 after reporting a 15-percent decline in profits in the first quarter of the year on higher expenses from new terminals. Security Bank Corp., the sixth ...

SM Group posted P8.5-b net profit in three months - 2018-05-09
Property arm SM Prime Holdings, Inc. posted a 15-percent growth in net income in the first three months to P7.6 billion, as consolidated revenues rose 14 percent to P23.4 billion. Banking units BDO Unibank Inc. and China Banking Corp. also contributed stro ...

Jollibee to buy master franchise holder of Tim Ho Wan
Rappler - 2018-05-09
MANILA, Philippines - Filipino fast-food giant Jollibee Foods Corporation (JFC) will invest up to S$45 million (P1.74 billion) in private equity fund Titan Dining LP to buy the master franchise holder of the Tim Ho Wan brand in the Asia Pacific.

Megaworld, Robinsons Land report strong earnings - 2018-05-09
Property developers Megaworld Corp. and Robinsons Land Corp. reported strong first-quarter earnings on significant growth in rental businesses. Megaworld said in a disclosure to the stock exchange net income attributable to its parent company climbed 11.3 ...

Kings center, WNBA legend to grace Jr NBA camp
Rappler - 2018-05-09
The National Training Camp finalists were selected from Regional Selection Camps in Bacolod, Baguio, Butuan and Metro Manila, and from the Alaska Power Camps in Manila and Subic. The search for the 2018 Coaches of the Year will also conclude at the ...

Bloomberry income surged 71 percent in first quarter
BusinessMirror - 2018-05-09
RAZON-LED Bloomberry Resorts Corp. on Tuesday said its net income surged 71 percent during the first three months of the year, reaching an all-time high on all of its gambling revenues. The operator of Solaire Resorts and Casino said its net income grew to ...

Exclusive: Crypto is the Future, Union Bank Head Asserts - 2018-05-09
Union Bank of the Philippines is the only one of 10 banks in the country to have welcomed blockchain and cryptocurrencies, expecting them to play a major role in the financial market space. When asked why, CEO and president Edwin Bautista told Cryptovest ...

Stronger dollar hurts ICTSI first-quarter earnings
BusinessWorld - 2018-05-09
International Container Terminal Services, Inc. (ICTSI) earnings fell 15% on the first three months of 2018 at US$44.1 million from US$51.7 million in the same period the previous year. "[ICTSI] operates in a number of jurisdictions other than the ...

Jollibee ordered to suspend online sites after data breach - 2018-05-09
The National Privacy Commission (NPC) has ordered Jollibee Foods Corporation to suspend the operations of its online delivery site and all other websites open to the public after the fastfood giant reported a data breach report last December 12 ...

Isko Moreno appointed Social Welfare undersecretary - 2018-05-09
Aside from Domagoso, the president also appointed Poro Point Management Corp. Chairman Sherwin Rigor as Environment undersecretary, Ayala Corp. Head of Public Policy and Associate Director Antonio Joselito Lambino II as Finance assistant secretary and ...

Jollibee suspends Chowking, Greenwich, Red Ribbon delivery websites
Rappler - 2018-05-09
MANILA, Philippines - Jollibee Foods Corporation (JFC) suspended the delivery websites for 3 other restaurants it owns, along with the Jollibee delivery website, following a National Privacy Commission (NPC) order to cease site operations until ...

First Gen aims to select partners for LNG terminal within the year
BusinessWorld - 2018-05-09
Lopez-led First Gen Corp. has set a firm schedule for its plan to build a liquefied natural gas (LNG) terminal and regasification facility, including the selection of a partner this year and the start of construction next year, company officials said.

Duterte names Isko Moreno as DSWD undersecretary
Rappler - 2018-05-09
Lambino was previously head of public policy and associate director at Ayala Corporation, according to his profile on Bloomberg. He was also once the communications head of the International Rice Research Institute. Lambino was a professional singer and ...

SM gets income boost from property, retail units
Rappler - 2018-05-09
SM told the Philippine Stock Exchange (PSE) on Wednesday, May 9, that its property unit SM Prime Holdings Incorporated accounted for 46% of the group's consolidated net income. This was followed by banks at 32% and retail at 22%, SM said in its disclosure.

Jollibee, Chowking, Greenwich online delivery shut down in line with data privacy order
CNN Philippines - 2018-05-09
Metro Manila (CNN Philippines, May 9) -- Fast-food giant Jollibee Foods Corporation has indefinitely closed its online delivery service to comply with the order of the National Privacy Commission (NPC). "In compliance with the NPC order, we have ...

Migrant workers sent $256 billion home to Asia-Pacific last year -- U.N.
InterAksyon - 2018-05-09
Children use a Globe Telecom payphone outside the Philippine company's headquarters in Mandaluyong, Metro Manila, August 10, 2007. (Reuters/Darren Whiteside, file) KUALA LUMPUR -- Migrant workers from the Asia-Pacific region sent $256 billion home last ...

Sun Life Financial brings the sound of music to the East Coast
WWBT - 2018-05-09
FREDERICTON, May 9, 2018 /CNW/ - Maritime music lovers rejoice! Residents in the Fredericton area will now be able to borrow musical instruments from the Fredericton Public Library courtesy of the Sun Life Financial Musical Instrument Lending Library program.

Meralco lowers electricity rates for May 2018 - 2018-05-08
MANILA, Philippines -- Power rates will go down by P0.5436 per kilowatt-hour (kwh) this month due to lower generation and transmission costs, the Manila Electric Co. (Meralco) announced yesterday. Meralco said overall electricity rates this month amounted ...

Globe open to sharing cell towers with PLDT - 2018-05-08
MANILA, Philippines -- Globe Telecom Inc. is open to working with rival PLDT Inc. for the proposed independent company that build cellular towers in the country. In a briefing Monday, Globe president and chief executive officer Ernest Cu said the Ayala ...

Robinsons, Hong Kong Land team up to build P5.6-billion Pasig residential project
Manila Standard Today - 2018-05-08
This is the second joint venture partnership signed by RLC this year. RLC teamed up with upscale property developer Shang Properties Inc. in March for a P10-billion residential complex with commercial component in Bonifacio Global City, Taguig. RLC ...

Phoenix unit starts building asphalt plant
Manila Standard Today - 2018-05-08
Phoenix Asphalt Philippines Inc., the joint venture of Phoenix Petroleum Philippines, TIPCO Asphalt Public Co. Ltd. of Thailand and PhilAsphalt Development Corp., broke ground on the construction of an asphalt plant at Calaca Industrial Seaport Park in ...

DBP, Alloy MTD sign P9.5-billion Clark City loan
Manila Standard Today - 2018-05-08
The Development Bank of the Philippines and AlloyMTD Philippines Inc. signed Tuesday a P9.5-billion loan agreement for the development of the National Government Administrative Center at the New Clark City in the municipalities of Capas and Bamban in ...

Wendy's PH website hack exposes thousands of personal data
CNN Philippines - 2018-05-08
Meanwhile, the NPC also ordered fast-food giant Jollibee Foods Corporation on May 4 to shut down its delivery website as a preventive measure to address vulnerabities that surfaced during a testing by a marketing firm. NPC said the website will remain ...

Meralco reduces power rates this month
BusinessWorld - 2018-05-08
Linemen work on power lines to Manila residential customers. The cost of electricity in May will decrease by P0.5436 per kilowatt-hour (kWh), largely because of a drop in the generation charge, distribution utility Manila Electric Co. (Meralco) said on ...

Phoenix Petroleum breaks ground for Batangas asphalt plant
BusinessMirror - 2018-05-08
PHOENIX Asphalt Philippines Inc. broke ground on its asphalt plant at Calaca Industrial Seaport Park in Batangas last week. Phoenix Asphalt is composed of Phoenix Petroleum, Thailand-based Tipco Asphalt Public Co. Ltd. and PhilAsphalt Development Corp ...

LTG to spend P11B in capex this year
BusinessMirror - 2018-05-08
Tan said P3 billion will be earmarked for Eton Properties Philippines Inc., P2.5 billion for Philippine National Bank, P2 billion for Asia Brewery Inc., P500 million for Tanduay Distillers Inc. and the rest will be for its property-joint ventures ...

LT Group sets aside up to P11B for capex this year
BusinessWorld - 2018-05-08
LT GROUP, Inc. (LTG) plans to spend P10-11 billion for capital expenditures in 2018, the bulk of which will be allocated for its property unit in a bid to expand its recurring income. The holding company of tycoon Lucio C. Tan, Sr. has allocated P3 billion ...

Ayala Land earnings grew 17% to P6.52B in Q1
BusinessMirror - 2018-05-08
To partially finance capital expenditures, the company listed a P10-billion, 10-year bond with the Philippine Dealing and Exchange Corp., carrying a fixed coupon ... It also launched its 25th estate, Parklinks, a 35-hectare mixed-use development along ...

Ayala Land net income rises 17% in 1 st quarter
BusinessWorld - 2018-05-08
Forty-one percent of the capex was allocated for residential developments, 23% for equity investments including MCT Bhd and Prime Orion Philippines, Inc., 22% for commercial leasing projects, 9% for land acquisition, and 5% for estate development.

RLC teams up with Hongkong Land for projects
BusinessWorld - 2018-05-08
ROBINSONS Land Corp. (RLC) has partnered with Hongkong Land Group (HKLG) for the development of real estate projects in the country ... RLC said it has already received clearance from the Philippine Competition Commission for the project last May 4.

Mondilla seeks major comeback
BusinessMirror - 2018-05-08
But the reticent former national champion has vowed to do everything to get back in shape and regain the confidence he would need in his title-retention drive against a crack international field in the P2-million event put up by ICTSI, in cooperation with ...

DoE orders oil firms to report cost breakdowns
BusinessWorld - 2018-05-08
"With the IRR in place, the stakeholders can now expect the prompt delivery of basic energy services to our people with the realization of vital energy infrastructures, while providing additional economic investments for us to truly compete globally ...

The era of dragons
BusinessMirror - 2018-05-08
In Photo: DoubleDragon Plaza, the first phase of DD Meridian Park in the Bay Area ... Its vision--to be one of the top 5 property companies in the Philippines by 2020. Hannah Yulo, chief investment officer DoubleDragon Properties Corp Hannah Yulo ...

PHILGBC releases new version of Berde
BusinessMirror - 2018-05-08
Companies that trust Berde for their building projects include: Maynilad Water Services, MaƱosa Properties, Arthaland Corp., First Balfour, HT Land Corp., Ayala Land Inc., Filinvest Land Inc., Laguna Lake Development Authority, The Net Group, De La Salle ...