Philippines stocks lower at close of trade; PSEi Composite down 0.56%
Investing.com - 2018-02-23
Falling stocks outnumbered advancing ones on the Philippines Stock Exchange by 125 to 61 and 48 ended unchanged. Shares in International Container Terminal Services Inc (PS:ICT) fell to 52-week lows; falling 3.77% or 3.350 to 85.400. Shares in Robinsons ...

Foreign investment pledges down 51.8% in 2017
Rappler - 2018-02-23
MANILA, Philippines - Total foreign investment pledges for the Philippines fell by more than half in 2017, according to the Philippine Statistics Authority (PSA). Data released by the PSA on Thursday, February 22, showed that total foreign investment ...

Primer Group partners with AUB for WeChat Pay
BusinessMirror. - 2018-02-23
Asia United Bank (AUB), one of the fastest-growing universal banks in the country, recently added the retail and distribution Primer Group of Cos. to its roster of accredited merchants for the mobile-payment facility WeChat Pay. WeChat Pay is the mobile ...

No retail armadeggon in PH in next 10 years
Inquirer - 2018-02-23
The feared demise of traditional retailing, which seems to be starting in the United States, Europe and China as a result of booming online shopping, may not happen in the Philippines in the next five to 10 years, but it is a future possibility that SM ...

Now Telecom gets franchise extension until 2043
Inquirer - 2018-02-23
Now Telecom Co. Inc., formerly Infocom Communications Network Inc., has secured an extension of its congressional franchise to build and operate a telecommunications network until 2043. President Rodrigo Duterte signed into law Republic Act 10972 on ...

Monetary Board member Valentin Araneta dies
CNN Philippines - 2018-02-23
He was also senior executive vice president and chief operating officer of Philippine National Bank.

In the FMCG world, local trumps global
Inquirer - 2018-02-23
In the fast-moving consumer goods (FMCG) industry, Filipino consumers apparently love their local brands and community retailers, says a recent report by global consumer behavior research firm Kantar Worldpanel. In the 2017 report "Asia Brand Power: How ...

Metrobank board okays 5% cash dividend
Manila Standard Today - 2018-02-22
METROPOLITAN Bank & Trust Co., the second-largest lender in terms of assets, will declare a 5-percent cash dividend to stockholders after sustaining growth momentum in 2017. Metrobank said in a disclosure to the stock exchange Thursday its board of ...

Approved foreign investment pledges lowest in more than a decade -- PSA
- 2018-02-22
By Jochebed B. Gonzales Senior Researcher APPROVED foreign investment commitments fell to their worst level in 12 years, according to data the Philippine Statistics Authority (PSA) released on Thursday. The PSA said approved foreign investment pledges for the entire 2017 totaled P105.6 billion, down by an annual 51.8%. This was the lowest amount since 2005’s …

Fintech firm taps Atencio as chairman
Business World - 2018-02-22
FORMER 8990 Holdings, Inc. President and Chief Executive Officer Januario Jesus Gregorio B. Atencio III has been appointed to lead Acudeen Technologies, Inc., a financial technology firm that helps out micro, small, and medium enterprises (MSMEs ...

FPH exec sees virtual extinction of coal plants, dominance of RE
BusinessMirror. - 2018-02-22
Federico R. Lopez, chairman and CEO of FPH, First Gen and Energy Development Corp. said during the second Philippine Environment Summit that as more renewables come onto the grid, the shape of demand changes. This is because renewable-energy (RE ...

BDO unit reports profits of P570 million in 2017
BusinessMirror. - 2018-02-22
BDO Leasing and Finance, the listed leasing and financing subsidiary of local banking giant BDO Unibank Inc, reported steady net income for 2017 on a larger loan portfolio and fewer operating costs. The leasing and finance unit on Thursday reported income ...

BDO unit reports profits of P570 million in 2017
BusinessMirror - 2018-02-22
BDO Leasing and Finance, the listed leasing and financing subsidiary of local banking giant BDO Unibank Inc, reported steady net income for 2017 on a larger loan portfolio and fewer operating costs. The leasing and finance unit on Thursday reported income ...

Valentin Araneta, 69, passes away
BusinessMirror. - 2018-02-22
having served as independent director at Metropolitan Bank and Trust Co. and as president and COO of Rizal Commercial Banking Corp. from 2000 to 2003 Araneta was also senior executive vice president and COO of the Philippine National Bank (PNB) until 1998.

PDIC issues claims guidelines for creditors of closed banks
BusinessMirror. - 2018-02-22
The Philippine Deposit Insurance Corp. (PDIC) recently issued guidelines for the creditors ... Creditors whose credits are secured by a duly registered real-estate mortgage or chattel mortgage or duly constituted pledge are no longer required to file ...

Petron to put up charging hubs for electric vehicles
BusinessMirror. - 2018-02-22
Joining the bandwagon is Manila Electric Co. (Meralco). The utility firm is looking into the possibility of producing EVs, apart from charging stations, to complete its e-vehicle supply chain. "Of course, [a] charging station is a basic entry for Meralco ...

BSP Monetary Board member Valentin Araneta dies
Rappler - 2018-02-22
He also served as senior executive vice president and chief operating officer of the Philippine National Bank (PNB) from 1995 to 1998, and was an independent director of the Metropolitan Bank & Trust Company (Metrobank). Prior to joining the workforce ...

Union Bank lists deposit notes on PDEx
Inquirer - 2018-02-22
Aboitiz-led Union Bank of the Philippines debuted on the local fixed income platform Philippine Dealing Exchange Corp. (PDEx) yesterday, raising P3 billion from the issuance of high-yielding deposit notes. The long-term negotiable certificates of time ...

Consumer price index base year changing to 2012 in March
Business World - 2018-02-22
Ruben Carlo O. Asuncion, chief economist at the Union Bank of the Philippines said that the rebasing would "naturally make a difference, but not big." "Nominal prices usually do not capture the real information about the level of prices. A base year ...

LRMC signs P450-m deal to repair LRT 1
thestandard.com.ph - 2018-02-22
Light Rail Manila Corp., a joint venture led by Ayala Corp. and Metro Pacific Investments Corp., said it signed a P450-million contract with Voith Digital Solutions Australia GmBH and Co KH to rehabilitate and upgrade the trains of Light Rail Transit Line 1.

PAL to shelve Naia 2 upgrade when P350-billion project gets off the ground
BusinessMirror. - 2018-02-22
The proposal of legacy carrier Philippine Airlines (PAL) to develop the second terminal of the Ninoy Aquino International Airport (Naia) will have to take a "back seat" in favor of a larger plan to develop the whole airport complex by a "super ...

Middle East military heavyweights Israel, Iran on collision course over Syria
The Washington Times - 2018-02-22
Gen. Nitzan Alon, head of Israeli Defense Forces operations, told Israeli Army Radio this week, adding that the prospect of a war with Iran this year was higher than it had been in a long time. Richard C. Baffa, a senior researcher at the Rand Corp., said ...

Phoenix upgrades fuels
thestandard.com.ph - 2018-02-22
Independent oil company Phoenix Petroleum has launched its upgraded fuels powered with Phoenix PULSE Technology. Available in all its fuel products, Phoenix PULSE Technology is an innovative formulation with advanced cleaning and protection properties for ...

PCC okays 2 joint ventures
InterAksyon - 2018-02-22
In a statement Thursday, PCC said it cleared the joint venture deals between Ayala Land, Inc. and Royal Asia Land, Inc. as well as the transaction between Markham Resources Corp. and Alternergy Mini Hydro Holdings Corp. "In the Commission Decisions ...

BANK ADVISORY | PSBank upgrading system; access to accounts cut off for 2 days
InterAksyon - 2018-02-22
MANILA - PSBank is upgrading its deposit system from 10 PM of February 23 (Friday) to 5 AM February 26 (Monday), to enable it to serve its clients better, the bank said in an advisory. o All PSBank Flexi Personal Loan accounts are not accessible ...

BCCP to hold Iloilo trade mission
BusinessMirror - 2018-02-22
with a tentative itinerary at the Iloilo Business Park, Iloilo Commercial Port Complex, Southeast Asian Fisheries Development Center and other homegrown industries; and 3) business networking and cocktails. With the theme "Promoting Regional Development ...

Manila Water expands into Thailand
Rappler - 2018-02-22
Foothold for Ayala in Thailand Zobel de Ayala, who also serves as president and chief operating officer of Manila Water's parent firm Ayala Corporation, also pointed out that "[the Ayala Group] sees this development as a strategic entry point into Thailand."

PH gov't releases draft guidelines for 3rd telco auction
Rappler - 2018-02-22
The DICT acting chief said these 3 groups will each be led by Converge ICT Solutions Incorporated, Now Corporation, and Philippine Telegraph & Telephone Corporation (PT&T). - Rappler.com

PMA honors 45 war heroes, departed alumni through memorial
Philippine Daily Inquirer - 2018-02-21
a day before the homecoming that was graced by businessman Enrique Razon Jr., chair and president of International Container Terminal Services Inc. Both Alejo and Saldua graduated in 2015, as members of "Sinaglahi" class. Alejo was killed by communist ...

Ayala Land hikes stake in Malaysian property firm
Manila Standard Today - 2018-02-21
Property developer Ayala Land Inc. said it raised its stake in MCT Bhd of Malaysia to 72.31 percent at the end of the mandatory takeover offer Monday. Ayala Land said in a disclosure to the stock exchange unit Regent Wise Investment Ltd. received ...

PAL defers plan for P20-b Terminal 2 expansion
Manila Standard Today - 2018-02-21
PAL exclusively uses Terminal 2 for its passengers ... Filinvest Development Corp., JG Summit Holdings Inc. and Metro Pacific Investments Corp. The proposal involves expanding and interconnecting the existing terminals of Naia, upgrading airside facilities ...

Concepcion allots P1b for expansion
Manila Standard Today - 2018-02-21
Concepcion Industrial Corp. is spending close to P1 billion this year to expand the business and create new solutions for the comfort and well-being of Filipino consumers after posting P13.9 billion in gross sales in 2017, up 13 percent from 2016.

Concepcion Industrial to use Internet of Things in aircon products
InterAksyon - 2018-02-21
MANILA - Concepcion Industrial Corp. (CIC) will spend some PHP50 to PHP80 million to adopt Internet of Things (IoT) technologies for its air conditioning products. In a briefing Wednesday, CIC Chairman, Chief Executive Officer and President Raul Joseph ...

Competition body readies more rules
Business World - 2018-02-21
In the same forum, Solomon M. Hermosa, head of legal and compliance at Ayala Corp., said competition laws have not affected the operations of the conglomerate, but the process has added another level of regulation that has "slowed down" growth ...

Concepcion Industrial to use Internet of Things in aircon products
InterAksyon - 2018-02-21
MANILA - Concepcion Industrial Corp. (CIC) will spend some PHP50 to PHP80 million to adopt Internet of Things (IoT) technologies for its air conditioning products. In a briefing Wednesday, CIC Chairman, Chief Executive Officer and President Raul Joseph ...

Ayala Land plans to raise up to P25 billion
Business World - 2018-02-21
AYALA LAND, Inc. (ALI) plans to raise up to P25 billion from a combination of retail bonds, loans, and qualified buyer notes this year to partially finance its aggressive spending program and to refinance existing debt. In a disclosure to the stock ...

UnionBank of the Philippines raises P3 billion from LTNCD offering
Business World - 2018-02-21
Apart from BPI, Security Bank Corp., Philippine National Bank, East West Banking Corp. and BDO Unibank, Inc., among others have rolled out their own fund-raising plans through separate note offerings announced over the past few months.

SC Justice counters Duterte: Militarization in South China Sea for PH, not U.S.
CNN Philippines - 2018-02-21
Metro Manila (CNN Philippines, February 22) -- China's continued militarization in disputed islands in the South China Sea is a national threat, Senior Associate Justice Antonio Carpio warned on Thursday. "Every military and security analyst I know here ...

CA confirms envoys to Vatican, UAE, 5 other countries
Rappler - 2018-02-21
social security benefits, and awareness of the rights and privileges of Filipino workers in northern Italy." In Italy, she also launched the Northern Italy Action Group against Drugs, in line with President Rodrigo Duterte's anti-drug campaign. She was ...

Higher LPG sales push Pryce income up in 2017
BusinessMirror. - 2018-02-21
PRYCE Corp. (PSE: PPC) said its income grew 29 percent last year on higher sales of cooking gas. The company, however, warned it may incur a slower income growth this year because of a new tax law. Pryce said on Wednesday its net income reached P1.24 ...

Valenzuela back in Ronda Pilipinas hunt
thestandard.com.ph - 2018-02-21
IRISH Valenzuela has joined CCN Superteam with hopes of reclaiming the title he last won five years ago in the Ronda Pilipinas 2018 presented by LBC slated March 3 to 18 from Vigan, Ilocos Sur to Filinvest, Alabang. Valenzuela, the 30-year-old 2013 Ronda ...

Philippine Airlines' P20-billion NAIA terminal proposal takes a back seat
Rappler - 2018-02-21
Aside from Asia's Emerging Dragon, members of the consortium are Aboitiz InfraCapital Incorporated, AC Infrastructure Holdings Corporation, Alliance Global Group Incorporated, Filinvest Development Corporation, JG Summit Holdings Incorporated, and Metro ...

Pink Shorts Manila to tackle LGBTQI topics
BusinessMirror. - 2018-02-21
TO raise awareness on the issues being faced by the lesbian, gay, bisexual, transgender, queer or questioning and intersex (LGBTQI) persons and their community, the Short+Sweet International (SSI) and the ... individuals or as a group.

Energy regulator grants compliance certificate to Panay, Negros power firms
Business World - 2018-02-21
The five entities that have secured PAOs are Palm Concepcion Power Corp., Nickel Asia Corp., EDC Siklab Power Corp., Gaisano Balasan Solar Rooftop Project, and SMC Consolidated Power Corp. Of the five, SMC Consolidated Power has the biggest capacity at 150 ...

Palayan opens one stop service center for OFWs in Central Luzon
thestandard.com.ph - 2018-02-21
Czarina Umali, former governor Aurelio Umali, POEA Administrator Bernard Olalia, and Alloy MTG Group Director engineer Isaac David ... OFWs can go to OSSCO in Palayan to avail the services of the Social Security System, Philhealth, Philippine Regulatory ...

PSE finally united in one roof, but is it a marriage made in heaven?
BusinessMirror. - 2018-02-21
It also became a battle between two real-estate companies, ALI of the Ayala Group and Philippine Realty and Holdings Corp. of Gerardo Lanuza Jr. with both donating their respective buildings--Ayala in Makati against Tektite in Ortigas Center--to host the ...

PSE finally united in one roof, but is it a marriage made in heaven?
BusinessMirror - 2018-02-21
It also became a battle between two real-estate companies, ALI of the Ayala Group and Philippine Realty and Holdings Corp. of Gerardo Lanuza Jr. with both donating their respective buildings--Ayala in Makati against Tektite in Ortigas Center--to host the ...

FINTECH | Tech start-up Bank-Genie to open Its global help desk in PH
InterAksyon - 2018-02-21
Ramkumar Sarma, Bank-Genie Founder and CEO MANILA, PHILIPPINES -- Banking solutions company Bank-Genie with corporate ... set up by two large global institutions - The SBI Holdings Group, a leading internet-based financial services conglomerate in ...

Ayala Land hikes stake in Malaysian property firm
thestandard.com.ph - 2018-02-21
Property developer Ayala Land Inc. said it raised its stake in MCT Bhd of Malaysia to 72.31 percent at the end of the mandatory takeover offer Monday. Ayala Land said in a disclosure to the stock exchange unit Regent Wise Investment Ltd. received ...

PAL defers plan for P20-b Terminal 2 expansion
thestandard.com.ph - 2018-02-21
PAL exclusively uses Terminal 2 for its passengers ... Filinvest Development Corp., JG Summit Holdings Inc. and Metro Pacific Investments Corp. The proposal involves expanding and interconnecting the existing terminals of Naia, upgrading airside facilities ...