Central Visayas posts modest growth of 5.1%
philstar.com - 2018-04-27
The services sector -- which comprises the region's main growth ... Carreon believes growth prospects this year look robust with the opening of Mactan-Cebu International Airport Terminal 2 and the new Panglao International Airport in Bohol.

Stocks climb; MPIC, Meralco up
thestandard.com.ph - 2018-04-27
Metro Pacific Investments Corp., which is into toll roads, water and electricity distribution and hospitals, climbed 5.5 percent to P4.82, while unit Manila Electric Co., the biggest power retailer, advanced to P314.20. Conglomerate Ayala Corp. gained 3.2 ...

Pagcor awards 16-ha. lot to Razon
thestandard.com.ph - 2018-04-27
Philippine Amusement and Gaming Corp. (Pagcor) accepted the offer of business tycoon Enrique Razon Jr. to acquire a 16-hectare land within the Entertainment City complex and and near his existing casino and expansion project for P37.33 billion. Bloomberry ...

Puregold leaves Lawson store chain, sells out to partner
thestandard.com.ph - 2018-04-27
Puregold Price Club Inc. of retail Lucio tycoon is exiting the convenience store business, with the sale of its entire 70-percent stake in Japanese retail chaon Lawson four years after venturing into the business. Puregold said in a disclosure to the stock ...

Pringle takes charge late as GlobalPort shuts down Meralco
Rappler - 2018-04-27
MANILA, Philippines - Stanley Pringle poured out 13 of his 17 points in the 4th quarter and the GlobalPort Batang Pier repulsed the Meralco Bolts, 86-85, in the 2018 PBA Commissioner's Cup at the Araneta Coliseum on Friday, April 27. After scoring just 4 ...

Raising the ante
thestandard.com.ph - 2018-04-27
Property development player DoubleDragon Properties is boosting its profile in the industry with Hotel 101-Fort, laying out plans to increase its prime leasable space to 1.2 million square meters by 2020. DoubleDragon chief investment officer Hannah Yulo ...

IMI income dropped in Q1
BusinessMirror - 2018-04-27
AYALA-LED Integrated Micro-Electronics Inc. (IMI) on Thursday said its income dropped by more than a third during the first three months of the year, mainly as a result of the expenses it incurred to relocate its facililities in Shenzen, China. IMI said ...

BDO hikes LTNCD offer on strong investor demand
BusinessWorld - 2018-04-27
BDO Unibank, Inc. increased the offering of its long-term negotiable certificates of deposit (LTNCD) as it saw strong demand from investors. In a disclosure to the local stock exchange on Friday, April 27, the Sy-led bank said it raised its LTNCD offer to ...

Puregold exits convenience store business with sale of Lawson
Rappler - 2018-04-27
MANILA, Philippines - Lucio Co-owned Puregold Price Club Incorporated is exiting the convenience store business, 4 years after venturing into this space, with the sale of its entire 70% stake in convenience store chain Lawson. Puregold told the local ...

Stakeholders say illegal streaming spiraling out of control
newsbytes.ph - 2018-04-27
The local movie industry and the telecommunications sector, along with the government, have banded together recently to formally fight illegal streaming - a malaise that is now slowly killing the local film industry. In a press conference held last April ...

Bloomberry unit wins bid for 16-hectare land in Entertainment City
BusinessWorld - 2018-04-27
The Philippine Amusement and Gaming Corp. (PAGCOR) has awarded 16 hectares of land in Entertainment City to a unit of Bloomberry Resorts Corp. for P37.3 billion, the listed firm said on Friday. In a disclosure to the stock exchange, Bloomberry said its ...

Manila Water bags Bulacan water project worth P400m
Manila Standard Today - 2018-04-26
Manila Water Co. Inc., a unit of conglomerate Ayala Corp., bagged a P400 ... MWPV and the BWD upon completion of the project will form a joint venture company to manage it, which is estimated to deliver billed volume of 22 million litters a day by the ...

SEC exempts Pure Foods from tender offer rule
Manila Standard Today - 2018-04-26
The Securities and Exchange Commission said San Miguel Pure Foods Co. Inc. is exempted from conducting a tender offer to minority shareholders of Ginebra San Miguel Inc. and San Miguel Brewery Inc. under a planned consolidation. The SEC said in a letter to ...

Philippine conglomerate JG Summit names new CEO
Nikkei Asian Review - 2018-04-26
He will replace his uncle, James Go, who will stay on as chairman. JG Summit is involved in food and beverage production, in addition to having a hand in the airline, real estate, petrochemical and banking industries. It has equity investments in ...

Shaking up the local volley scene
Sun Star - 2018-04-26
"We have learned that there are no volleyball events for athletes in Cebu City after Cesafi (Cebu Schools Athletic Foundation ... are University of San Jose-Recoletos (USJ-R), University of Southern Philippines-Foundation (USP-F), Cebrus, Cebu Province ...

BSP eases SBL rules for project contractors
BusinessWorld - 2018-04-26
as well as the "super-consortium" proposing to rehabilitate the Ninoy Aquino International Airport which include Ayala Corp., Aboitiz Equity Ventures, Inc., Alliance Global Group, Inc., Asia Emerging Dragon, Filinvest Development Corp., JG Summit ...

CAR fastest-growing region in 2017 -- PSA
BusinessWorld - 2018-04-26
"Incidentally, CAR and Central Luzon are hosts [of] recent game-changing infrastructure [projects] like the SCTEX (Subic-Clark-Tarlac Expressway), NLEX (North Luzon Expressway), and TPLEX (Tarlac-Pangasinan-La Union Expressway), which I believe, have ...

JG Summit appoints Lance Gokongwei as CEO
BusinessWorld - 2018-04-26
The conglomerate also named Universal Robina Corp. Executive Vice-President Cornelio S. Mapa, Jr. as senior vice-president, corporate strategy for consumer businesses and JG Summit Chief Strategist Bach Johann M. Sebastian as senior vice-president ...

Now Corp. income surges in 2017
BusinessWorld - 2018-04-26
NOW CORP. said its attributable net income surged in 2017, fueled by higher revenues from software licenses and services and broadband services. In a regulatory filing, the information technology company recorded a net income attributable to parent of P6 ...

BPI-supported program helps K-to-12 students find internships
BusinessWorld - 2018-04-26
BANK of the Philippine Islands (BPI) said the BPI Foundation and social enterprise YGOAL, Inc. are working with the Department of Education (DepEd) to help K-to-12 students gain more work experience during and after their time in school. It said the BPI ...

Microsoft Earnings: What to Look For
Investopedia - 2018-04-26
Legacy tech giant Microsoft Corp. (MSFT) is slated to report its most recent quarterly ... for its successful and continued transition to become a leader in the next-gen tech space. Microsoft's Office 365, an online-productivity service for businesses ...

DOLE eyes welfare benefits for jobless Pinoys
BusinessMirror - 2018-04-26
Gordon has already filed bill seeking to amend the Social Security Act of 1997 to include provisions on ... their target goals this year is the creation of a technical working group on job displacement/UI, the conduct of a national/regional dialogue ...

Espinosa: Iloilo City is "BIKEation" destination
Sun Star - 2018-04-26
More than 5,000 participants are expected to join the 5th Iloilo Bike Festival with the theme "Iloilo, your BIKEation destination" on May 1-6 organized by Iloilo City Government through City Sports Division in partnership with Megaworld Corporation.

CebuPac to fly 22 million passengers in 2018
BusinessMirror - 2018-04-26
Profits of Cebu Air Inc., the operator of budget carrier Cebu Pacific, dropped by 18.9 percent to P7.91 billion, from the P9.75 billion it registered the year prior, no thanks to the rise in jet-fuel prices and losses from the weak peso-dollar exchange ...

FWD reported P4.55-billion premium income in 2017
BusinessMirror - 2018-04-26
Apart from the increase in total premiums, FWD Life also posted total weighted new business premiums of P1.65 billion for the same period, expanding 42 percent year-on-year, enabling the company to move up in market rank to 10th in the Philippines.

FROM THE ARCHIVES: Boracay developers not worried over contamination controversy (1997)
BusinessWorld - 2018-04-26
He added a projected drop in prices should encourage purchase of properties on the island. A source from Ayala Land, Inc., which owns 80 has. of undeveloped prime land, also said the fact the report is inconclusive means investors should not be alarmed.

Bulacan airport, 7 other projects get NEDA Board approval
Rappler - 2018-04-26
the project requires the winning concessionaire to operate and maintain the new passenger terminal being built by the consortium led by Megawide Construction Corporation. The deal to operate and maintain the Clark airport involves an estimated capital ...

FROM THE ARCHIVES: Boracay resorts brace for less tourist arrivals (1997)
BusinessWorld - 2018-04-26
The PTA said approximately 208 resort operators on the island, and the three property developers in the area, Fil-Estate Land, Inc., Primetown Development Corp. and Ayala Land Corp., have warned of the negative effects of the purportedly erroneous article.

PHL shares climb as interest rate concerns ease
BusinessWorld - 2018-04-26
Roxas said via text when asked for an outlook on the PSEi for the short term. Positive corporate earnings lifted US markets overnight, with the Dow Jones Industrial average recovering from a five-day decline to close 0.25% or 59.70 points higher to 24,083.83.

Philippines stocks higher at close of trade; PSEi Composite up 0.79%
Investing.com - 2018-04-26
Rising stocks outnumbered declining ones on the Philippines Stock Exchange by 113 to 88 and 38 ended unchanged. Shares in DMCI Holdings Inc (PS:DMC) fell to 52-week lows; down 5.46% or 0.660 to 11.420. Gold Futures for June delivery was up 0.16% or 2.10 to ...

SM Group spending P75 billion to P90 billion in capex this year
BusinessMirror - 2018-04-26
The company said a chunk of its capital expenditure (capex) for the year will be spent on the property arm and shopping-mall operator SM Prime Holdings Inc., while P5 billion each will be spent on banking and retail business. "We will continue to ...

Ayala-led Manila Water bags P400-million deal in Bulacan
Rappler - 2018-04-26
MANILA, Philippines - Ayala-led utility firm Manila Water Company Incorporated ... MWPV had also signed an asset purchase deal with Asian Land Strategies Corporation - one of the largest real estate developers in Bulacan - for the provision of ...

Metrobank to raise up to P20 billion from LTNCDs
BusinessWorld - 2018-04-26
Metropolitan Banking & Trust Co. (Metrobank) is planning to raise up to P20 billion by selling long-term negotiable certificates of deposit (LTNCD). In a disclosure to the stock exchange on Thursday, April 26, the Ty-led lender said it is set to issue peso ...

Filipino-owned Philippine Bottling Beverage Launches Purified Water
BusinessMirror - 2018-04-26
Inc. (BEVI) FILIPINO-OWNED company Philippine Bottling Beverage (PBB), a new player in the purified water and non-carbonated drinks industry, has launched Banahaw Spring Purified Water at a well-attended media event on April 16 at the Manila House Private ...

Auto finance
Lexology - 2018-04-26
18 The AG also successfully imposed civil penalties and a permanent ... Commissioner of Banks also entered into a consent order with a motor vehicle sales finance company to cease illegal sales financing and collections activities, and to maintain an ...

GLOBE TELECOM INC
Economic Times - 2018-04-26
Virtual network operators do not own the networks they use to provide communications services but instead lease capacity from conventional operators. In the December quarter, net profit of a sample of 2,043 companies rose to a sixquarter high of 27.5 per ...

ABS-CBN calls deal with Globe not sustainable
Manila Standard Today - 2018-04-25
ABS-CBN Corp. is studying whether it will renew the mobile network sharing agreement with Globe Telecom Inc. set to expire in June this year. "We recognized the business model is not sustainable financially, so we continue to discuss with Globe.

Jollibee brings Vietnamese chain to Philippines
BusinessWorld - 2018-04-25
JOLLIBEE Foods Corp. (JFC) will be bringing is Vietnamese restaurant chain Pho 24 to the Philippines, the homegrown fastfood giant disclosed to the stock exchange on Wednesday. The listed company said the expansion of the Vietnamese brand will be done ...

Global Ferronickel CEO says planned mining curbs may hit output this year
BusinessWorld - 2018-04-25
Global Ferronickel Holdings, Inc., said planned government curbs on mining may hit its long-term output and would force it to make adjustments to meet its 2018 shipment goals. Manila wants to restrict the amount of land that miners can extract mineral ...

FWD Life books higher premium income in 2017
BusinessWorld - 2018-04-25
It also ended 2017 with 2,200 agents. It has presence in more than 300 branches of Security Bank Corp. as the insurer entered a bancassurance deal with the lender in 2014. "FWD made significant progress in 2017 in our mission to become a leading life ...

Aboitiz firm to implement P10-M community projects in 2018
Sun Star - 2018-04-25
Davao is a progressive city because of our good relationship. With 9.5 percent economic growth, the highest in the whole Philippines, Davao City achieved this because of our partnership with AboitizPower," said Vice Mayor Bernard Al-ag, who witnessed the ...

Philippines' Universal Robina appoints first outsider CEO
Nikkei Asian Review - 2018-04-25
Lee is currently the CEO of Rustan Supercenters, an upscale grocery store chain that recently merged with Gokongwei-led Robinsons Retail Holdings. Lee previously held senior roles at McKinsey & Co. and Procter & Gamble as CEO for United Kingdom ...

New DENR undersecretary named
BusinessWorld - 2018-04-25
FACEBOOK.COM/POMPEELAVINA FORMER Social Security System (SSS) commissioner Jose Gabriel M ... for the regularization of 12,000 workers. The group said this also serves as preparation for Labor Day calling for the regularization of all contractual workers.

Investments: Nothing new under the sun
BusinessMirror - 2018-04-25
The biblical book of Ecclesiastes was written sometime during the period from 450 to 180 BCE. In the writings is a profound observation of history backwards and into the future. A section of chapter one reads "and there is nothing new under the sun. Is ...

ABS-CBN calls deal with Globe not sustainable
thestandard.com.ph - 2018-04-25
ABS-CBN Corp. is studying whether it will renew the mobile network sharing agreement with Globe Telecom Inc. set to expire in June this year. "We recognized the business model is not sustainable financially, so we continue to discuss with Globe.

SM Group to expand, but not keen on telco
Rappler - 2018-04-25
After SM bought a 61.2% stake in dormitory builder Philippines Urban Living Solutions Incorporated (MyTown) and about a 30% stake in 2GO Group Incorporated's parent firm, SM president and chief executive officer Frederic DyBuncio said his conglomerate is ...

The hailstorm in Benguet is more dangerous than exciting
InterAksyon - 2018-04-25
Similar to other forms of storms, hailstorms cause extreme damage to properties and destroy lives ... according to the National Geographic: "In the 20th century, Russia and the United States tried cloud seeding. Cloud seeding is adding chemical ...

SM Prime allots P80 billion in capex this year
BusinessMirror - 2018-04-25
SM Prime Holdings Inc. on Tuesday said it has earmarked P80 billion in capital expenditures (capex) this year to support the growth of its key businesses. The capex will be allocated to reach key provincial cities that demonstrate promising economic ...

Meralco survives slugfest with Columbian, 116-103
BusinessWorld - 2018-04-25
THE Meralco Bolts got their Philippine Basketball Association (PBA) campaign to a winning start after defeating the Columbian Dyip, 116-103, in their tournament debut yesterday at the Smart Araneta Coliseum. Kept at bay for much of the opening half, the ...

EXPORT AND INDUSTRY BANK
Economic Times - 2018-04-25
The most obvious sign of this came last Tuesday when China's central bank unexpectedly announced it was cutting the amount of cash that banks must keep in reserves. Working capital loan is a great way to overcome the seasonal shortfall of cash, irregular ...