Cebu Pacific cancels flights following announcement of Boracay closure
BusinessWorld - 2018-04-05
BW FILE PHOTO Below is the statement by Cebu Pacific (Cebu Air Inc) announcing flight cancellations to and from Caticlan and Kalibo in Aklan following the government announcement on April 4 that President Rodrigo R. Duterte has approved the closure of ...

Airlines cut back flights as Philippine holiday hotspot prepares for closure
YAHOO! - 2018-04-05
said Thursday that the closure would have a significant impact on its financial health, citing the resort's large contribution to revenue. The company's shares dropped 7.5 percent on Thursday. The Philippine tourism minister, Wanda Teo, said Thursday that ...

Airlines cut back flights as Philippine holiday hotspot prepares for closure
Investing.com - 2018-04-05
By Neil Jerome Morales MANILA (Reuters) - A decision by the Philippines to close the holiday hotspot of Boracay, which President Rodrigo Duterte has called a "cesspool", prompted airlines Thursday to cut back flights to the island, while business groups ...

Cebu Pacific cancels Caticlan, Kalibo flights following announcement of April 26 Boracay closure
BusinessWorld - 2018-04-05
BW FILE PHOTO Below is the statement by Cebu Pacific (Cebu Air Inc) announcing flight cancellations to and from Caticlan and Kalibo in Aklan following the government announcement on April 4 that President Rodrigo R. Duterte has approved the closure of ...

Now, wait until end of June: Wait for third telco player in the Philippines continues
TechnoChops - 2018-04-05
Among the many companies that have expressed interest to become that third telco, Philippine Telegraph and Telephone Corp. (PT&T) had earlier announced the signing of a Memorandum of Understanding with the National Transmission Corporation (Transco ...

Bankrupt Payday Lender Can't Move Pa. AG's Suit To Texas
Law360 - 2018-04-05
Law360 (April 4, 2018, 8:00 PM EDT) -- Think Finance LLC, a financial technology firm that critics ... where it has filed for bankruptcy. The company has been hit with lawsuits over its alleged role in several "rent-a-tribe" schemes, where a high ...

University Of Notre Dame Du Lac Lowered By $551,837 Its Abiomed (ABMD) Holding; Sun Life Financial Trimmed Its Qualcomm (QCOM) Position
Bibey Post - 2018-04-04
University Of Notre Dame Du Lac decreased Abiomed Inc (ABMD ... The firm has "Equal-Weight" rating by Morgan Stanley given on Friday, February 2. The firm has "Overweight" rating given on Thursday, April 6 by PiperJaffray. The rating was maintained ...

Megawide, partner GMR criticize rival Naia Consortium
Manila Standard Today - 2018-04-04
Megawide Construction Corp. and partner India-based GMR Infrastructure Ltd., one of the bidders for the rehabilitation and expansion of the Ninoy Aquino International Airport, slammed rival NAIA Consortium for its call on the government to expedite the ...

Megaworld to issue notes worth $200-million
Manila Standard Today - 2018-04-04
Megaworld Corp., one of the leading condominium and office developers in the country, plans to issue $200 million in five-year senior, unsecured notes to refinance existing debt and fund general corporate activities. The property firm said in a disclosure ...

Century Pacific posts net income of P2.55-billion
Manila Standard Today - 2018-04-04
Canned tuna food producer Century Pacific Food, Inc. said net income in 2017 dropped four percent to P2.55 billion due to higher raw material prices. Century Pacific said in a disclosure to the stock exchange consolidated revenues, however, rose 22 percent ...

PAL adjusts operations after announcement of Boracay closure
CNN Philippines - 2018-04-04
Metro Manila (CNN Philippines, April 4) -- Philippine Airlines (PAL) is adjusting its operations after the announcement of Boracay's closure starting April 26. In a statement Wednesday, the country's flag carrier said it would scale down services to ...

Century Tuna maker's net income drops 4% to P2.55 billion in 2017
Rappler - 2018-04-04
MANILA, Philippines - Po family-led Century Pacific Food Incorporated, the firm behind Century Tuna, saw its bottom line drop in 2017 due to higher prices for raw materials. In a disclosure to the Philippine Stock Exchange (PSE) on Wednesday, April 4 ...

MPIC aims to seal Air21 deal within Q2
BusinessWorld - 2018-04-04
MPIC is one of three Philippine subsidiaries of Hong Kong-based First Pacific Co. Ltd., the others being PLDT, Inc. and Philex Mining Corp. Hastings Holdings, Inc. -- a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc. -- maintains ...

GT Capital looking for strategic global partner as it considers expanding into new sectors
BusinessWorld - 2018-04-04
"If we do make a major investment in a new sector, part of the business model requires a strategic global partner," Mr. Bautista said. GT Capital has tapped the expertise of dominant global players to support its foray into new businesses such as ...

Strong Q4 sales boost Philippine Seven profit
BusinessWorld - 2018-04-04
THE Philippine licensee of the 7-Eleven chain of convenience stores relied on the strength of a strong fourth-quarter performance to turn in a double-digit growth in earnings last year. Philippine Seven Corp. (PSC) reported a 12.1% jump in net income to P1 ...

PDRF unveils emergency operations center in Clark
BusinessWorld - 2018-04-04
Pangilinan said. Ayala Corp. Chairman and Chief Executive Officer Jaime Augusto Zobel de Ayala meanwhile noted the PDRF will serve as a one-stop shop for the government to coordinate with the private sector in case disaster hits. "The focal start in ...

Jollibee stocks suffer after DOLE order to regularize over 6,000 workers
Rappler - 2018-04-04
MANILA, Philippines - Shares in Jollibee Foods Corporation (JFC) fell sharply, after the Department of Labor and Employment (DOLE) ordered the fast-food giant to regularize 6,482 workers. Jollibee shares plunged 3.85% - the biggest decline since March ...

AFP plans biz protection oplan vs NPA offensives
Davao Today - 2018-04-04
He proposed that instead of destroying properties, the NDFP should allow progress and parallel ... "The semifeudal and semi-colonial social system has been with us for more than a century. Our people have suffered so much despite the good intentions ...

Emperador income slid 18% last year to P6.3 billion on higher cost, forex losses
BusinessMirror - 2018-04-04
Our premiumization efforts and our strategy to grow our business worldwide are under way. We are excited about the prospect of these initiatives," company president Winston Co said in a statement. This year its Dalmore flagship store at Uptown Bonifacio ...

Lowest ever energy bids and leveling the playing field
BusinessWorld - 2018-04-04
MANILA Electric Co. (Meralco) recently received the lowest ever bid to build new wind capacity in the Philippines at P3.50 per kilowatt-hour (kWh). Solar is even cheaper than wind. The lowest price for solar received by Meralco so far has been P2.9887 per ...

Market declines; Jollibee tumbles
thestandard.com.ph - 2018-04-04
Losers edged gainers, 107 to 103, with 46 issues unchanged. Jollibee Foods Corp., the biggest fastfood chain, slumped 3.8 percent to P285, while SM Investments Corp. of retail tycoon Henry Sy Sr. slipped 1.5 percent to P960. Casino operator Bloomberry ...

Vista Land allots P50-billion to fund 2018 expansion
thestandard.com.ph - 2018-04-04
Vista Land & Lifescapes Inc. earmarked a record P50 billion in capital expenditures this year, up 34 percent from P37.4 billion spent last year, as the company plans to aggressively expand its leasing portfolio. Vista Land president and chief executive ...

Megawide, partner GMR criticize rival Naia Consortium
thestandard.com.ph - 2018-04-04
Megawide Construction Corp. and partner India-based GMR Infrastructure Ltd., one of the bidders for the rehabilitation and expansion of the Ninoy Aquino International Airport, slammed rival NAIA Consortium for its call on the government to expedite the ...

Fostering stronger MEX-PHL ties
BusinessMirror - 2018-04-04
Complementary, Philippine companies like ICTSI Inc. and Integrated Micro Electronics have invested in Mexico $450 million. However, our countries have not yet fully exploited mutually beneficial opportunities of political and economic cooperation.

Cyna up front
BusinessMirror - 2018-04-04
"I struggled with my irons, hit them most to the right," rued Superal, who, however, vowed to strike back for a crack at a third straight crown in the circuit sponsored by ICTSI. Monsalve also grappled with her irons but came through with clutch par ...

Jollibee set to appeal DOLE order regularizing workers
CNN Philippines - 2018-04-04
Metro Manila (CNN Philippines, April 4) - Fast food giant Jollibee Foods Corporation (JFC) is set to appeal on the order of the Department of Labor and Employment (DOLE) to regularize some 6,000 of its workers. In a statement sent to CNN Philippines on ...

First Gen to register 92% contracted capacity in 2018
BusinessMirror - 2018-04-04
LOPEZ-LED First Gen Corp. intends to register a 92-percent contracted capacity this year, up from the current 80 percent. In its 2017 earnings presentation filed with the Philippine Stock Exchange, the power firm said it "aims to get 92 percent of its ...

Phoenix Petroleum revenue grew 45% to P44.43 billion in 2017
BusinessMirror - 2018-04-04
Other industry players captured 45.4 percent of the market. These include PTT Philippines, Total Philippines, Seaoil Philippines, TWA Inc., Phoenix, Liquigaz, Prycegas, Micro Dragon, Unioil, Isla Gas, Jetti, Eastern Petroleum, JS Union, JS Philippines Corp ...

DoLE orders regularization of over 7,000 workers under Jollibee group
BusinessWorld - 2018-04-04
The Department of Labor and Employment (DoLE) has ordered regular employment status for more than 7,000 workers of Jollibee Foods Corp. (JFC) contractors and refund nearly P20 million in "illegal payment collections" to affected employees as part of an ...

Stocks dip on Jollibee news, US-China trade war
BusinessWorld - 2018-04-04
The local barometer fell on Wednesday, April 4, tracking the negative sentiment in regional markets, alongside the sell-off of shares in Jollibee Foods Corp. (JFC) after the government ordered the company to regularize its workers. The Philippine Stock ...

DOLE orders Jollibee to regularize over 6,000 workers
Rappler - 2018-04-04
MANILA, Philippines - The Department of Labor and Employment (DOLE) on Wednesday, April 4, ordered popular Philippine fast food company Jollibee Foods Corporation to regularize more than 6,000 workers, as the agency continues its campaign against ...

California DBO, Virginia AG Target Short-term Lending
Lexology - 2018-04-04
"By disguising their loans as sales, these companies tried to get around important laws that protect seniors and retirees on fixed-incomes from financial exploitation," AG Mark R. Herring said in a statement. To read the DBO Consent Order, click her

Makers Wanted
Comstock's Magazine - 2018-04-03
California lost about 40 percent of its manufacturing jobs between 1990 and 2012 -- 842,180 jobs -- according to a report by the Los Angeles County Economic Development Corporation. Yet it remains a top manufacturing center in the United States ...

Consortium: Government needs an upgraded Naia to make inclusive growth a reality
BusinessMirror - 2018-04-03
Further expansions are planned to meet projected passenger demand moving forward. More expansion will follow to meet the expected growth in tourism, business and the economy. In 2017 the four Naia terminals, designed to handle only 31 million, accommodated ...

First Gen aims to secure more supply deals
BusinessWorld - 2018-04-03
FIRST GEN Corp. is aiming to secure power supply contracts for 92% of the capacity it generates this year, an improvement over the 80% it recorded last year, the Lopez-led company told the stock exchange. The target is among the "strategic thrusts" for ...

Phoenix Petroleum says market share reaches 6.2%
BusinessWorld - 2018-04-03
The company noted its share included that of the liquefied petroleum gas (LPG) business acquired last year and which has been renamed Phoenix LPG Philippines, Inc. "Phoenix recorded its best performing year yet in 2017 when it posted triple all-time ...

BPI Family sees strong loan growth despite higher prices due to TRAIN
BusinessWorld - 2018-04-03
The thrift lending arm of listed Bank of the Philippine Islands (BPI) is bullish on its loan growth despite the effects of the tax reform law. In a round-table discussion on Tuesday, Joaquin Mari B. Abola, retail lending group head at BPI Family Savings ...

ICTSI to operate Motukea terminal by middle of May
BusinessWorld - 2018-04-03
INTERNATIONAL Container Terminal Services, Inc. (ICTSI) on Tuesday said it expects to start operations of its Motukea International Terminal (MIT) in Port Moresby, Papua New Guinea by mid-May. This after the ICTSI South Pacific signed an agreement with the ...

Gender-equality score slides-PIDS
BusinessMirror - 2018-04-03
Those in vulnerable employment, he added, are less likely to have formal work arrangements, and are therefore more likely to lack decent working conditions, adequate social security and voice ... which is the second-poorest group in the population ...

Wenceslao group aims to bag government construction projects
BusinessMirror - 2018-04-03
"We also have our own projects in Aseana, which will be a central business district in the coming years within the huge development encompassing Entertainment City, Mall of Asia, the Philippine Senate and various other developments," he said. The ...

ArthaLand eyes leadership in green building development
BusinessMirror - 2018-04-03
"It starts with the faƧade of the building, which gives importance to light," he said. Po said the business center is going to be positioned as the central hub of ACPT where guests, tenants and occupants can gather to exchange ideas: occupants such as ...

Daniel Quizon stuns top seed in Asian Youth
Rappler - 2018-04-03
Miciano, the national junior champ from FEU, defeated Ahmad Nazari Emir Rusyaidi. The National Chess Federation of the Philippines decided to raise Quizon on a higher category to test his potential after recent successes, led by a second place finish at a ...

Tight finish looms in Luisita
BusinessMirror - 2018-04-03
Princess Superal seeks to extend her win run to three but expects a tougher, fiercer challenge from a souped-up field in the International Container Terminal Services Inc. (ICTSI) Luisita Ladies Championship, which gets going today at the Luisita Golf and ...

Philippines stocks higher at close of trade; PSEi Composite up 0.12%
Investing.com - 2018-04-03
Falling stocks outnumbered advancing ones on the Philippines Stock Exchange by 99 to 91 and 65 ended unchanged. Shares in Aboitiz Power Corp (PS:AP) fell to 3-years lows; down 3.61% or 1.40 to 37.40. Gold Futures for June delivery was up 0.08% or 1.10 to $ ...

Bargain hunting continues to lift stocks
BusinessWorld - 2018-04-03
Another nine declined, with Bank of the Philippines Islands and Universal Robina Corp. losing 2.77% to P108.70 each and 1.98% to P148.50 each, respectively. -- Arra B. Francia

Megaworld to raise funds via offshore debt market
BusinessMirror - 2018-04-03
MEGAWORLD Corp., the property-development arm of businessman Andrew Tan, is tapping the offshore market to raise funds. In its disclosure to the Philippine Stock Exchange, the company said it is mandating J.P. Morgan as its sole bookrunner to arrange a ...

Gov't negotiating with China-led consortium to rebuild Marawi; initial cost at ?17-B
CNN Philippines - 2018-04-03
Anhui Huali Construction Group Co. Ltd., China Geo Engineering Corp., TBEA Co. Ltd., and Shandong Jinyuan Homes Industry Development Co. Ltd. Local firms in the consortium are Future Homes Philippines Inc., A Brown Company Inc., H.S. Pow Construction and ...

NEDA body approves San Miguel's Bulacan airport, 8 other projects
Rappler - 2018-04-03
MANILA, Philippines - San Miguel Corporation's P700-billion proposal to build, operate, and maintain an airport in Bulacan - along with 8 other infrastructure projects - has been approved by a National Economic and Development Authority (NEDA) body ...

Smart makes first successful 'Voice over Wifi' call in PH
Rappler - 2018-04-03
To be clear, the service is not yet available commercially but will be coming soon. "We look forward to letting our customers make Wifi calls on PLDT Home and Smart Wifi soon," said Mario Tamayo, PLDT and Smart Senior Vice President for Network Planning ...

California DBO, Virginia AG Target Short-term Lending
JD Supra - 2018-04-02
"By disguising their loans as sales, these companies tried to get around important laws that protect seniors and retirees on fixed-incomes from financial exploitation," AG Mark R. Herring said in a statement. To read the DBO Consent Order, click her