PLDT appeal on regularization of contractuals denied
BusinessWorld - 2018-05-03
Found to be labor-only contractors by DoLE and ordered to cease and desist from further engaging in contracting activities were Activeone Health, Inc.; Aremay Enterprise; BBS-VPN Allied Services Corp. Philippines; Best Options Assistance, Inc; Comworks ...

BPI raises P50 billion from stock rights offering
BusinessWorld - 2018-05-03
BANK OF THE Philippine Islands (BPI) has completed its stock rights offer (SRO), raising P50 billion to fund its business operations and expansion. In a disclosure to the local bourse on Wednesday, the Ayala-led BPI said it has completed its rights ...

IFC looks to issue first peso-denominated green bonds
BusinessWorld - 2018-05-03
"There is large unmet demand for corporate bonds among domestic institutional investors, so issuers have little interest in incurring the additional costs for green issues when they will be able to place non-green issues without difficulty." The ...

Crown Asia to supply pipes for CALAX project
BusinessWorld - 2018-05-03
"Crown Pipes was subjected to consistent and stringent testing from MPCALA and DMCI (Consunji, Inc.) and will continue to be a preferred brand of high-impact infrastructure projects," the company said. MPCALA Holdings, which is part of Metro Pacific ...

ABS-CBN, GMA claim TV ratings lead in April
BusinessWorld - 2018-05-03
ABS-CBN Corp. and GMA Network, Inc. both claimed lead nationwide ratings for April. In a statement, Lopez-led ABS-CBN cited data provided by Kantar Media showing it had an average audience share of 45% in April, while GMA had 33% share. GMA, in a separate ...

ATI allots P8-B capex for 2018
BusinessMirror - 2018-05-03
ASIAN Terminals Inc. (ATI) has set an P8-billion capital- expenditure (capex) program for 2018 as it undertakes capacity buildup initiatives to further drive growth in the ports it operates. In a statement, the company said it is using the amount to ...

MPIC income up 16 percent to P3.6B in Q1
BusinessMirror - 2018-05-03
CONGLOMERATE Metro Pacific Investments Corp. (MPIC) said its net income rose 16 percent during the first three months of the year on higher performance of its major businesses from power, toll road and water, but said the government needs to give the ...

New high for five
BusinessMirror - 2018-05-03
During the launch, renowned race organizer JP Tuason mentioned that the first and last legs will be held at the Clark International Speedway, Pampanga, while the second leg will be grind out at Filinvest, Alabang--thus, bringing the motorsports experience ...

F2 Logistics forces do-or-die PSL title match vs Petron
Rappler - 2018-05-03
MANILA, Philippines - Reigning champion F2 Logistics refused to relinquish its throne as it crushed Petron, 25-17, 25-22, 25-19, in Game 2 and forged a winner-take-all battle in their Chooks to Go-Philippine Superliga (PSL) Grand Prix best-of-three ...

JaDine heats up Usep
Sun Star - 2018-05-03
The Revolution: The JaDine Concert PH Tour Live in Davao is brought by EKG Productions Inc., owned and operated by Mr. and Mrs. Emil and Kate Gayap. It is also co-presented by Phoenix Petroleum and Thai Royale Spa Philippines.

Asian Terminals sets P8-billion port expansion program
Rappler - 2018-05-03
MANILA, Philippines - Listed Asian Terminals Incorporated (ATI), the operator of the Manila South Harbor and the Batangas Container Terminal, is planning a multibillion ... and safer ports and logistics services to the country's supply chain," the ...

A new report says the Air Canada pilots complained of fatigue. Are pilots being pushed too far?
Inc. - 2018-05-03
It shows that the Air Canada plane came extremely close to a Philippine Airlines aircraft. You can see the Air Canada flight landing, aimed straight at the planes on the ground. It seems to come within feet -- some experts suggest the distance was as ...

Aboitiz Equity Ventures net income up by 3% in Q1 2018
Rappler - 2018-05-03
As for Republic Cement & Building Materials Incorporated, its contribution to AEV decreased 140% year-on-year, from a P202-million net income to a net loss of P82 million. This was mainly due to energy input costs which went up. AEV's infrastructure ...

To Save a Stadium for the Middle Class, Manila Advocates Used Preservation as a Tool
City Limits - 2018-05-03
The assistant professor at the Asian Institute of Tourism in the University of the Philippines was referring ... But Atienza, who studied architecture in college, would hear nothing of it. The conservative Catholic said the Jai Alai building - originally ...

SM City Urdaneta Central opens in Pangasinan on May 4
Rappler - 2018-05-03
SM Prime noted that aside from being the 3rd largest province in the country, Pangasinan also benefits from the influx of tourists heading to Northern Luzon through the Tarlac-Pangasinan-La Union Expressway (TPLEX). "Given this strategic location as ...

Petron goes for kill; F2 eyes to stop Bell
philstar.com - 2018-05-03
MANILA, Philippines - Pride and glory are at stake in the Chooks to Go-Philippine Superliga Grand Prix best-of-three finals between Petron and F2 Logistics. With one Grand Prix title apiece, both Petron and F2 Logistics are seeking to match the two ...

Philippines stocks lower at close of trade; PSEi Composite down 2.60%
Investing.com - 2018-05-03
Falling stocks outnumbered advancing ones on the Philippines Stock Exchange by 128 to 50 and 52 ended unchanged. Shares in Aboitiz Equity Ventures Inc (PS:AEV) fell to 52-week lows; falling 6.94% or 4.700 to 63.000. Shares in GT Capital Holdings Inc (PS ...

AEV first-quarter profit inches up by 3%
BusinessWorld - 2018-05-03
Power accounted for 64% of total income contributions, followed by Banking & Financial Services (30%), Food (6%), Land (1%), and Infrastructure (-2%). "Our diversified portfolio gives us the resilience to sail through varying business cycles. The ...

Rising gas, food prices seen to push PH inflation faster
Rappler - 2018-05-03
"In addition, higher electricity rates in Meralco (Manila Electric Company)-serviced areas as well as higher rice prices due to supply conditions could contribute to additional price pressures," the central bank added. - Rappler.com

BPI raises P50 billion from stock rights offer
BusinessWorld - 2018-05-03
Bank of the Philippine Islands has set the final terms for its rights offer. -- AFP Bank of the Philippine Islands (BPI) has completed its stock rights offer (SRO), raising P50 billion to fund its business operations and expansion. In a disclosure to the ...

The Billion-Dollar Bank Job
The New York Times - 2018-05-03
Beginning on Thursday afternoon, New York time, when the Fed had received a total of 70 fraudulent payment orders to four bank accounts in the Philippines and one in ... a $20 million deposit for the Shalika Foundation, an agricultural NGO in Sri Lanka ...

Stocks back in red on regional weakness
philstar.com - 2018-05-03
Another decliner was GT Capital, which fell to three-years lows to P1,000. The best performers of the session were International Container Terminal Services Inc., which rose by 2.78 percent to P86.950 after announcing that it is ready to participate in the ...

Casino just an 'amenity' of Boracay resort project, Rep. Benitez says
philstar.com - 2018-05-03
Rep. Alfredo Benitez (Negros Occidental), founder of listed gaming company Leisure and Resorts World Corp., the local partner of Macau-based Galaxy Entertainment Group, said no construction is being done on land in Barangay Manoc-Manoc that LRWC bought.

Petron guns for PSL crown vs F2 Logistics
Manila Standard Today - 2018-05-02
PETRON essays a fitting climax to its championship journey when it clashes with F2 Logistics in Game 2 of their Chooks to Go-Philippine Superliga best-of-three finals series today (Thursday) at the Filoil Flying V Centre. Action starts at 7 p.m. with the ...

A reminder of the atrocities of war
thestandard.com.ph - 2018-05-02
Perceptions of rape in war changed in the 20th century. It is no longer seen as something inevitable ... Duterte said that the statue should be placed on private property where its presence cannot be perceived as an insult to Japan. Where is the statue ...

Security Bank posts lower Q1 net income
BusinessWorld - 2018-05-02
Security guards stand on duty at a branch of Security Bank in Manila in this file photo taken on January 14, 2016 . -- AFP SECURITY BANK Corp. posted a lower net income in the first quarter due to lower trading gains and higher provision for income tax.

Consumer financial services at a crossroads: Auto finance
JD Supra - 2018-05-02
Notably, the CFPB issued rules for large nonbank auto finance companies, as well as amended its Supervision ... Attorney Gen. Office, AG Healey Sues Auto Dealer JD Byrider for Predatory Sales and Loan Practices (Sept. 26, 2017), http://www.mass.gov/ago ...

Factory activity picks up in April
BusinessWorld - 2018-05-02
Union Bank of the Philippines Chief Economist Ruben Carlo O. Asuncion, meanwhile, said that "this is also the validation of the business optimism prevalent since the last part of the first quarter." "Although the new taxes somehow dampened production ...

8990 Holdings posts double-digit income growth in 2017
BusinessWorld - 2018-05-02
8990 HOLDINGS, Inc. delivered a double-digit growth in profit last year on the back of higher revenues and improved margins. In a disclosure to the stock exchange, the mass housing developer reported that consolidated net income grew 16% year on year to P4 ...

Anchor Land net profit hits P620M
BusinessWorld - 2018-05-02
ANCHOR Land Holdings, Inc. reported an 11% increase in profit in 2017, driven by higher real estate sales and increased rental income. In a regulatory filing, Anchor Land said its net income stood at P620.05 million as of end-2017, compared to the previous ...

Cirtek income plunged in 2017, dragged by subsidiary in US
BusinessMirror - 2018-05-02
Cirtek Electronics Corp. reached net sales of $43.4 million, while Cirtek Advanced Technologies and Solutions Inc. had sales of $26.7 million. CEC booked a net profit of $2.5 million, and Catsi posted a net profit of $8 million. The BusinessMirror provides ...

DFNN income jumped sixfolds in 2017
BusinessMirror - 2018-05-02
DFNN Inc., a firm that operates gambling kiosks and supplies software solutions to other firms, said its net income jumped six folds last year as a result of more deployment of gaming machines. The company said its profits rose P144.77 million for the ...

Delays hit supercritical coal power plant
BusinessMirror - 2018-05-02
The senior-term loan lenders were BDO Unibank Inc.; China Banking Corp. (China Bank); Metropolitan Bank & Trust Co. (Metrobank); Philippine National Bank (PNB); and Rizal Commercial Banking Corp. (RCBC). BDO Unibank - Trust and Investments Group served ...

Malbec World Day 2018: Beyond creativity, imagination
BusinessMirror - 2018-05-02
Modelled from France, the initiative proposed adding a new grape variety to enhance the national wine industry ... the Provincial Legislature to establish a Quinta Normal and Agricultural School. This was approved by the House of Representatives on ...

Viva Europa 2018: Historic ties, cultures celebrated
BusinessMirror - 2018-05-02
Promoting European musical heritage is the FEUropa, a nationwide choir competition which is now on its 10th year, organized by the Far Eastern University (FEU) with the support of the EU Delegation and the Embassy of Spain. It will take place on May 26 and 27.

Petron guns for PSL crown vs F2 Logistics
thestandard.com.ph - 2018-05-02
PETRON essays a fitting climax to its championship journey when it clashes with F2 Logistics in Game 2 of their Chooks to Go-Philippine Superliga best-of-three finals series today (Thursday) at the Filoil Flying V Centre. Action starts at 7 p.m. with the ...

Initao rural bank shut down by BSP
BusinessWorld - 2018-05-02
The Philippine Deposit Insurance Corp. (PDIC ... following the fate of the Batangas-based Empire Rural Bank and the Rural Bank of Loreto, Inc. in the Dinagat Islands. -- Melissa Luz T. Lopez

Changing lives, one pair of slippers at a time
Sun Star - 2018-05-02
Dumalagan was a Reserved Officers Training Corps (ROTC) cadet officer in college, and this paved the way for him to join the Armed Forces of the Philippines ... the country to enjoy the privilege of free education," saying "education is the solution ...

SE Asia Stocks-Malaysia, Philippines drop 1 pct; Thailand bounces back in late trade
Reuters - 2018-05-02
* Malaysia, Philippines snap 3 sessions of gains * Indonesia rises for third straight session * Vietnam falls 2 pct, 4th session of fall in 7 By Sumeet Gaikwad May 2 (Reuters) - Malaysian and Philippine shares fell 1 percent each and snapped three straight ...

How tourism helps an island in Davao
CNN Philippines - 2018-05-02
Manila (CNN Philippines Life ... Davao Del Norte State College, and Barangay Adecor in order to promote biodiversity conservation and to give livelihood to the community. "[The locals] guard the project, they manage it, they are the ones who look ...

Petron Blaze Spikers look to complete finals payback
BusinessWorld - 2018-05-02
THE Petron Blaze Spikers seek to complete exorcising their finals failure last season as they go for the closeout win today in their best-of-three Philippine Superliga (PSL) Grand Prix series with defending champions F2 Logistics Cargo Movers. Fashioned ...

Four lessons on funding social enterprises
BusinessWorld - 2018-05-02
Just like when choosing life partners, both parties must align their values and ... Research Network of the Center for Business Research and Development at De La Salle University.

IDC income almost doubled in 2017
BusinessMirror - 2018-05-02
ITALPINAS Development Corp. (IDC), a boutique developer of mostly green buildings in second-tier cities, said its net income grew 87 percent last year to P59.89 million, from P32 million in 2016 as the company was able to meet its target sales, despite its ...

Smart, YouTube team up to connect Filipinos to the world of video
thestandard.com.ph - 2018-05-02
This service is something every Filipino should have access to," said Oscar A. Reyes, Jr., SVP of Consumer Business Market Development for PLDT and Smart. Oscar A. Reyes, Jr., SVP of Consumer Business Market Development for PLDT and Smart and Ken Lingan ...

Alvarez says gov't must work harder to educate Filipinos on charter change
Rappler - 2018-05-02
The President had argued that federalism would decentralize power and wealth away from "Imperial Manila" and further empower ... by giving the regions greater leeway in terms of powers and resources, we can unleash their potential to contribute to overall ...

Unity game engine learning center launched in PH by Unity, ArthaLand
Rappler - 2018-05-02
MANILA, Philippines - Real estate company, ArthaLand ... The program will operate out of the recently-launched ArthaLand Century Pacific Tower, located at Bonifacio Global City (BGC), Taguig. "The CREATOR Center of Excellence will future-proof the ...

Philippines stocks lower at close of trade; PSEi Composite down 1.06%
Investing.com - 2018-05-02
Investing.com - Philippines stocks were lower after the close on Wednesday, as losses in the Holding Firms, Services and Mining & Oil sectors led shares lower. At the close in Philippines, the PSEi Composite declined 1.06%. Rising stocks outnumbered ...

ISM Communications to sell treasury shares worth P560 million
BusinessWorld - 2018-05-02
ISM Communications Corp. is selling treasury shares to finance possible investments. In a disclosure to the stock exchange on Wednesday, May 2, ISM said its board of directors approved the sale of 560 million treasury shares to wholly-owned subsidiary ISM ...

8990 Holdings posts 16% profit growth
BusinessWorld - 2018-05-02
8990 Holdings, Inc. delivered a double-digit growth in income last year on the back of higher revenues and improved margins. In a disclosure to the stock exchange, the mass housing developer reported that consolidated net income grew 16% year on year to P4 ...

PLDT, Smart advise customers of slow internet over cable problem
CNN Philippines - 2018-05-02
Metro Manila (CNN Philippines, May 2) -- PLDT and wholly-owned subsidiary Smart Communications apologized to its customers for the slow internet connection, citing cable issues. The telco said its undersea cable -- which links the Philippines to Hong ...