Bargain hunt spurs slight recovery
BusinessWorld Online - 2018-02-02
Stocks that gained were led by the likes of SM Investments Corp.; SM Prime Holdings, Inc.; Ayala Land, Inc.; Semirara Mining and Power Corp.; Jollibee Foods Corp.; Megaworld Corp. and San Miguel Corp. that increased by 0.59% to P1,030 apiece, 1.23% to P36 ...

Globe says nearing two-million broadband line goal
BusinessWorld Online - 2018-02-02
GLOBE Telecom, Inc. has deployed one million broadband lines, halfway through its goal of two million lines by 2020. In a statement, the telecommunications company said it deployed more than one million broadband lines in the last two years, enabling more ...

GLOBE: Tighter rules on VAS to increase customer protection
Inquirer Technology - 2018-02-02
Globe Telecom is enforcing tighter rules to protect its customers against unscrupulous practices of some third-party value-added service (VAS) providers resulting in prepaid load deduction which customers often mistake as "nakaw load." Unknown load ...

Globe tightens rules on 3rd parties to protect vs 'nakaw-load'
Rappler - 2018-02-02
MANILA, Philippines-- Ayala-led Globe Telecom has announced tighter rules for its 3rd-party value-added service providers (VAS) to guard against unscrupulous practices. Such practices result in prepaid load deduction which customers often mistake as nakaw ...

Tax hikes temper demand, manufacturing sector growth
- 2018-02-02
The increase in the excise tax rates slapped on various products to generate more revenue for the government under the Tax Reform for Acceleration and Inclusion (TRAIN) act tempered demand and manufacturing growth in January, the latest Nikkei Philippines Manufacturing Purchasing Managers’ Index (PMI) showed.

After viral post on load theft, Globe moves to tighten rules on VAS
Newsbytes Philippines - 2018-02-02
After a Facebook post by a Globe Telecom subscriber who was victimized by a load deduction scheme went viral, the mobile operator said it would enforce tighter rules against third-party value-added service (VAS) providers. On Tuesday, Jan. 30, Globe ...

General Trias celebrates Valencia Festival
Philstar - 2018-02-02
Antel Holdings Inc. The top ten corporate taxpayers in real property tax for the year 2016 are ProFriends, Purefoods Hormel Corp., Unilever Philippines, Can Asia, SMC Yamamura Fuso Mol Corp., Magnolia, Telford Services Philippines, GreenKraft Corp ...

Maiden 7-Eleven Run draws large turnout
Philstar - 2018-02-01
CEBU, Philippines -- More than 6,000 runners all over the country will gather in the Queen City of the South for the Cebu leg of the inaugural 7-Eleven Run leg this Sunday. The race, which will start and end at the Cebu Business Park, features the 3K, 5K ...

Duterte to meet Vis-Min officials in Cebu
Philstar - 2018-02-01
CEBU, Philippines -- President Rodrigo Duterte will be in Cebu ... I had my doubts about Doria but he is very thorough. He is thorough that Metrobank considered him one of the 10 outstanding citizens in this country," the mayor said.

Higher excise taxes temper demand, manufacturing growth in January
Inquirer - 2018-02-01
The increase in prices could be partly offset by lower electricity rates in Meralco-serviced areas for the month," the BSP further explained. In December, the Cabinet-level Development Budget Coordination Committee kept the 2-4 percent inflation target ...

DoubleDragon to open Hotel101 in Boracay
Philstar - 2018-02-01
MANILA, Philippines -- DoubleDragon Properties Corp. is building Hotel101 Resort-Boracay ... DoubleDragon is a property company founded by Sia and Jollibee Group founder and chairman Tony Tan Caktiong. Hotel101 Resort-Boracay is a joint venture between ...

Metrobank core profit posts 10% hike in 2017
Philstar - 2018-02-01
"We are pleased to report positive results in our core business. The strength of our deposit franchise continues to support our loan growth, particularly in the commercial space as we help finance the expansion plans of our customers. The bank said total ...

SM junks Goldilocks acquisition bid
Philstar - 2018-02-01
SMIC, through SM Prime Holdings Inc., develops and operates shopping malls around the Philippines. SMPHI operates close to 70 malls in the Philippines, while Goldilocks has a network of more than 600 stores, some of which operate in SM malls. It would have ...

W Express RVF Cup golf listup ends today
Philstar - 2018-02-01
Entry forms can also be downloaded at or The tournament, held as part of the PLDT Group National Amateur Golf Tour and backed by the MVP Sports Foundation, is open to amateur golfers with certified handicap ...

Accenture: Combination is key when adopting digital technologies
Newsbytes Philippines - 2018-02-01
Internationally, these include Huawei, Google, and Hitachi. In the Philippines, companies such as Meralco and Globe Telecom have also done it. In the case of Meralco, development of a smart grid is currently underway to improve both customer service and ...

Elusive inclusiveness: Will federalism finally bring progress to rural PHL?
Business Mirror - 2018-02-01
The country lagged behind its counterparts in the Association of Southeast Asian Nations. The country had a score of ... Autonomy and Equity," Philippine Institute for Development Studies Senior Research Fellow Rosario G. Manasan said the fiscal gap ...

BSP sees even faster Jan. price pickup
BusinessWorld Online - 2018-02-01
"The increase in prices could be partly offset by lower electricity rates in Meralco (Manila Electric Co.)-serviced areas for ... Authority is scheduled to report official inflation data on Tuesday. The central bank expects full-year inflation to average ...

Competition body walks a tightrope as it intensifies enforcement this year
BusinessWorld Online - 2018-02-01
In a panel discussion at the 2018 Manila Forum on Competition in Developing Countries in Makati City, Ayala Corp. Chairman Jaime Augusto Zobel de Ayala cited the experience of advanced Asian economies whose governments have created an environment for ...

GMR Megawide keen on Davao airport upgrade
BusinessWorld Online - 2018-02-01
GMCAC is a consortium between Megawide Construction Corp. and Bangalore-based GMR Infrastructure Ltd. It also recently won the contract for the P9.36-billion construction of a new Clark International Airport terminal. "We are very interested in ...

Metrobank posts higher core income on loans, deposits
BusinessWorld Online - 2018-02-01
METROPOLITAN BANK & Trust Co. (Metrobank) posted higher income on a core basis in 2017 on the back of robust growth in its loans and deposits. In a disclosure to the local bourse on Thursday, the Ty-led Metrobank booked a consolidated net income of P18.2 ...

DoubleDragon beefs up tourism portfolio with 1,001-room hotel in Boracay
BusinessWorld Online - 2018-02-01
DOUBLEDRAGON Properties Corp. is ramping up the expansion of its hospitality segment as it plans to build a 1,001-room hotel in the tourism estate of Global-Estate Resorts, Inc. (GERI) in Boracay. In a statement issued Thursday, the listed property ...

S&P affirms credit ratings for PSALM, National Power Corp.
BusinessWorld Online - 2018-02-01
S&P GLOBAL Ratings has affirmed the credit rating of state-led energy companies Power Sector Assets and Liabilities Management Corp. (PSALM) and National Power Corp. (Napocor), citing their stable outlook that reflects that of the Philippines.

Metro Manila labor turnover stabilizes in Q3
BusinessWorld Online - 2018-02-01
This is generally a positive picture of the labor force," he said. Security Bank Corp. economist Angelo B. Taningco attributed the slowdown in labor turnover to a sharp decline in the services sector "that was partly offset by an increase in the ...

Toward a sustainable future
BusinessWorld Online - 2018-02-01
The Financial Executives Institute of the Philippines (FINEX ... Albert Gamboa is Chief Financial Officer of the Asian Center for Legal Excellence and serves as Co-Chairman of the FINEX Media Affairs Committee.

Main index declines amid valuation concerns
BusinessWorld Online - 2018-02-01
"After two successive days of massive selldowns, the Philippine market still finished on a sour note to start the month of February, as earnings season will soon be starting," Regina Capital Development ... SM Prime Holdings, Inc. and SM Investments ...

Philippines' SM conglomerate ditches bakeshop buy
Nikkei Asian Review - 2018-02-01
The deal's collapse is a setback to SM's plans to expand its retail empire, which is the largest in the Philippines but is facing increasing competition from other companies, including Robinsons Retail Holdings, an affiliate of JG Summit Holdings.

SBMA closes ranks with BOC in fight vs smuggling
Business Mirror - 2018-02-01
Last week Eisma and Lapeña, along with Port of Subic District Collector Fidel Villanueva and Philippine International Trading Corp. President and CEO Dave Almarinez, also inspected three shipments seized by the Subic BOC for various violations of customs ...

PSEi declines by 1.64% on profit-taking
Inquirer - 2018-02-01
Investors also loaded up on shares of companies outside the PSEi. ATN Holdings surged by 35.63 percent in relatively heavy volume while TBGI racked up 3.33 percent. Stock pundits said ATN, which has the same controlling shareholders as TBGI, rode on the ...

DoubleDragon, partners to build PH's 'biggest' hotel in Boracay
Rappler - 2018-02-01
"The Hotel101 Resort-Boracay will soon rise on the beachfront of Boracay Newcoast featuring 1,001 rooms and is expected to become the biggest hotel in the Philippines in terms of room count," DoubleDragon Properties Corporation said in a disclosure to the ...

SM scraps Goldilocks acquisition deal
Rappler - 2018-02-01
(READ: FAST FACTS: SM Investments Corporation) Established in 1966, Goldilocks has grown from a small bakery in Makati City to the country's largest bakeshop with over 400 stores at home and abroad. -

SM Retail stops plans to acquire Goldilocks
CNN Philippines - 2018-02-01
SM Retail is a subsidiary of SM Investments Corp. (SMIC), mother company of SM Prime Holdings Inc. (SMPHI) in charge of Sy's mall operations. SMPHI operates close to 70 malls in the Philippines. Under the Philippine Competition Act, PCC must review mergers ...

Robinsons Bank sets P730-M capex plan - 2018-02-01
Earlier, Philippine National Bank, East West Banking Corp. and UnionBank of the Philippines announced they will be offering LTNCDs in 2018.

The biggest hotel in the Philippines will open on the island of Boracay
E TN Global Travel Industry News - 2018-02-01
"We envision Hotel101 to become the largest and most recognized hotel chain in the Philippines, significantly contributing ... pool and outdoor deck, a business center, meeting rooms and function hall. The project will adopt sustainable best practices ...

SE Asia Stocks-Most rise; Philippines recovers
Reuters - 2018-02-01
with the Philippines snapping two sessions of falls on the back of gains in real estate shares. The Philippine Stock Exchange PSEI Index rose as much as 0.6 percent after shedding 3.3 percent in the previous two sessions. "The index dropped quite a bit.

Ombudsman refuses to suspend deputy
Philippine Daily Inquirer - 2018-02-01
From 2006 to 2015, Mr. Duterte held seven joint accounts with his daughter Sara at Bank of the Philippine Islands (BPI) branch on Julia Vargas Avenue in Pasig City, nine joint accounts at BPI Edsa Greenhills branch, and one joint account at Banco de Oro ...

Union Bank rolls out P3B IOU offer
Inquirer - 2018-02-01
Aboitiz-led Union Bank of the Philippines has rolled out a new offering of high-yielding deposit notes worth at least P3 billion, aiming to improve its deposit maturity profile and support business expansion plans. The launch followed the Bangko Sentral ng ...

Hotel 101 breaks ground for Boracay resort
Inquirer - 2018-02-01
Kevin Tan, executive director of Alliance Global Group Inc. and senior vice president of Megaworld said: "This new development by Hotel101 Resort-Boracay group will become a major provider of comfort and convenience for tourists visiting Boracay.

Tennis solidarity in offing - or is it?
Philstar - 2018-01-31
Cablitas, a sports editor of the FEU Advocate before earning his law degree at San Beda College, said rising stars like Iggy Pantino and Alexandra Eala deserve a break in making their tennis dreams come true. Dean's Corner ( Article MRec ), pagematch ...

Budget 2018: Finance minister may enhance allocation for infrastructure, agriculture and rural development
News Nation - 2018-01-31
For the finance minister Arun Jaitley ... There is also a need that a National Logistics Company may be established which communicates with the states with respect to their needs of agricultural produces and bridges the supply demand gaps of the ...

Adapting to E-commerce
Philstar - 2018-01-31
NEGOSYO KAPATID: Angat Lahat By Joey Concepcion (The Philippine Star) | Updated February 1, 2018 - 12:00am Shoe brand PayLess closed 20 percent of its 4,000 stores last year. Giant clothing brand H&M has announced that they will be closing more stores this ...

Laguna Water sets P1.2 B capex
Philstar - 2018-01-31
MANILA, Philippines -- Laguna Water Corp., a unit of Ayala-led Manila Water Co. Inc., is spending P1.2 billion this year to expand its coverage in the province. The company plans to increase its service area from its existing concession in Sta. Rosa ...

Megaworld embraces digital technology in township development
Philstar - 2018-01-31
MANILA, Philippines -- Megaworld Corp., the Andrew Tan-led property company, is embracing digital technology and connectivity in its townships which would transform these mixed-used estates into smart cities. Over the weekend, it unveiled its so-called ...

The Disruptor
Philstar - 2018-01-31
EYES WIDE OPEN By Iris Gonzales (The Philippine Star) | Updated February 1, 2018 - 12:00am At first glance, Bangko Sentral ng Pilipinas Governor Nestor Espenilla Jr. may seem like someone from the academe -- quiet and by-the-book. But when he starts ...

Labor group, lawmakers urge Duterte to reject hike in SSS contribution
Business Mirror - 2018-01-31
A labor group said on Wednesday it would express its opposition to the looming membership fee hike of the Social Security System (SSS) during its expected meeting with President Duterte next week. "We will raise the [fee hike] issue with the President ...

ALI allots 450 hectares for carbon neutrality
Philstar - 2018-01-31
MANILA, Philippines -- Ayala Land Inc (ALI), the property development arm of the Ayala Group, is dedicating nearly 500 hectares for its planned carbon forests. The move is in line with plans to achieve "carbon neutrality" by 2022. ALI sustainability ...

Money supply, lending growth eases
BusinessWorld Online - 2018-01-31
GROWTH of money supply slowed in December as the increase of bank lending eased and as the government issued retail bonds, the central bank reported yesterday. At the same time, year-on-year growth of bank loans for production activities -- accounting for ...

Ayala Land aims to neutralize its carbon footprint by 2022
BusinessWorld Online - 2018-01-31
THE ENVIRONMENT is taking the spotlight in the boardroom of Ayala Land, Inc. (ALI), as the Philippine property giant works on incorporating more sustainable practices in its business to neutralize its carbon footprint by 2022. Ayala Land has committed to ...

Robinsons Bank sets P730-M capex plan
BusinessWorld Online - 2018-01-31
Earlier, Philippine National Bank, East West Banking Corp. and UnionBank of the Philippines announced they will be offering LTNCDs in 2018.

ICTSI unit begins operations in Papua New Guinea
BusinessWorld Online - 2018-01-31
A UNIT of global port operator International Container Terminal services, Inc. (ICTSI) has started operations in Papua New Guinea (PNG) after obtaining the go-signal from the government. In a statement on Wednesday, the company said ICTSI South Pacific ...

Serendipity in dragon boating
BusinessWorld Online - 2018-01-31
With the strong urging of my strategic management professor, Dina Bernardo, I decided to try dragon boating one Sunday morning and brought my wife along with me. Quite frankly, I was just expecting a good workout, something I have not consistently had ever ...