Victorias Milling posts profit decline for fiscal first quarter
Business Mirror - 2018-01-10
VICTORIAS Milling Corp. said profit for the first quarter of its fiscal year ending August hit P46.12 million, down 61 percent from P119.08 million from the previous year. The company added it had higher operating cost for the period vis-a-vis its revenue ...

PSE: Bang and boom
Business Mirror - 2018-01-10
JG Summit Holdings and Universal Robina share prices gained over 8 percent. San Miguel shares rose 7.5 percent. Ayala Corp., GT Capital Holdings, Metrobank, BPI and SM Prime Holdings went up in the 5-percent range. However, the first three trading days of ...

National championships for road up in Bataan
Business Mirror - 2018-01-10
Southeast Asian Games gold medalists Mark John Lexer Galedo and Marella Vania Salamat will lead the field that includes riders from continental team 7-Eleven, club teams led by Standard Insurance-Navy, Go For Gold and Franzia and cyclists from the ...

Saso seizes 1-stroke lead
Business Mirror - 2018-01-10
Inc., Crimson Hotel Filinvest, Golfers Club Shares Inc., Cherrylume and NGAP. Thais Chookaew Pimkwan and Trachuentong Pinkaew lay just two strokes off Saso with 72s, while Nicole Abelar and Pramphun Kultida, also of Thailand, shot identical 73s ...

Meralco power rates to decline this month
The Standard - 2018-01-10
Power rates in the franchise area of Manila Electric Co. will drop P0.5260 per kilowatt-hour in January, translating into a P105 reduction in the monthly bill of a typical household consuming 200 kilowatt-hours. Meralco said in a statement the overall ...

Philippines, Japan on track for new MRT deal - 2018-01-10
The government is also currently evaluating the unsolicited proposal of Metro Pacific Investments Corp. (MPIC) for the rehabilitation and takeover of the MRT system. MPIC is one of three key Philippine units of Hong Kong-based First Pacific Co. Ltd., the ...

PSEi closes above 8,900 mainly on foreign buying
Inquirer - 2018-01-10
Investors also picked shares of Ayala Land and SM Investments, which both rose by more than 2 percent, while Security Bank, GT Capital and BPI all gained more than 1 percent. Don't miss out on the latest news and information.

PLDT unit to forge strategic partnerships in Q1 2018
Rappler - 2018-01-10
(READ: Telcos turn to Makati to beta test all-in-one digital card, app) In late 2017, another Chinese internet giant, Tencent, launched its WeChat cashless payment service through a partnership with Asia United Bank. In December 2017, Pangilinan also said ...

Century Properties tops off two more Acqua towers
Inquirer - 2018-01-10
Preferred shareholders under the program are entitled to customized luxury vacation and business stays in 152 units owned by CALC in Novotel Suites Manila at Acqua, the option to enjoy multiple vacation destinations worldwide, hassle-free property ...

Foreign direct investments in PH hit 16-month high in October 2017
Rappler - 2018-01-10
MANILA, Philippines - The amount of foreign direct investments (FDIs) coming into the Philippines last October hit its highest level in 16 months, suggesting positive investor sentiment over the country's strong macroeconomic fundamentals and growth ...

DOE to gas stations: Don't take advantage of tax reform law
Rappler - 2018-01-10
The excise tax on fuel is also seen to have an impact on electricity bills. A Manila Electric Company (Meralco) official said an estimated additional 8 centavos per kilowatt hour (kWh) would be charged as a result of TRAIN. -

PLDT setting up data disaster recovery facility in Clark
Inquirer - 2018-01-10
PLDT Inc. is building its first data disaster recovery facility in the Clark Freeport Zone in Pampanga, the telco said in a statement yesterday. PLDT said the facility, which would open in the third quarter of 2018, would provide backup operations for its ...

6 flights canceled due to bad weather
Philippine Daily Inquirer - 2018-01-10
At least four domestic flights have been canceled Wednesday due to inclement weather, the Manila International Airport Authority (Miaa) said. A Facebook post of the Miaa said Cebu Pacific and Philippine Airlines (PAL) Express canceled the following flights:

Philippines stocks lower at close of trade; PSEi Composite down 0.04% - 2018-01-10
... declining ones on the Philippines Stock Exchange by 105 to 104 and 53 ended unchanged. Shares in Bank of the Philippine Islands (PS:BPI) rose to all time highs; gaining 3.82% or 4.40 to 119.50. Shares in LT Group Inc (PS:LTG) rose to 3-years highs ...

Electricity rates to rise by 8¢/kWh due to TRAIN
Inquirer - 2018-01-10
Such provisions include Sec. 9 of RA 9511--signed into law in December 2008--which granted a franchise to NGCP, allowing the company to engage in the power transmission business. NGCP took over the management and operations of the assets that belong to ...

Economic Times - 2018-01-10
The Finisar investment will help boost production of vertical-cavity surface-emitting lasers, which Apple uses for Face ID, Animoji. Apple has yet to disclose plans for how it will distribute the television shows in which it has been investing in recent ...

Economic Times - 2018-01-10
With the S&P 500 up about 14 per cent so far in 2017, investors are hoping earnings growth can help justify valuations. Today, robotics, artificial intelligence (AI), 3D printing and the Internet of Things (IoT) are reducing the importance of low-wage labour.

Economic Times - 2018-01-10
RCom reported a net loss of Rs 966 cr for the fourth quarter of the fiscal gone by compared to a net profit of Rs 90 cr in the same period last year. The discussions, though preliminary, are seen as important as a successful conclusion could lead to a ...

SINGAPORE PRESS: News Headlines On Wednesday, January 10
Nikkei Asian Review - 2018-01-09
Reuters *Other Governments to Assist with Singapore Investigation of Keppel O&M Scandal The Attorney-Generals ... and Singapore providing nearly ubiquitous payouts. Singapore and the Philippines led the world in the proportion of companies that made ...

Anti-trust agency approves SM Retail acquisition of Goldilocks
Inquirer - 2018-01-09
SM Retail is a subsidiary of SM Investments Corp. (SMIC), which through another subsidiary, SM Prime Holdings Inc. (SMPHI), develops, owns and operates shopping malls. Goldilocks has a network of more than 500 stores, some of which operate in SM malls.

PSEi rallies to 8,900
Inquirer - 2018-01-09
URC and BDO both surged by over 5 percent while SM Prime and JG Summit added over 3 percent each. Investors also picked of shares of Ayala Land and SM Investments, which both rose by over 2 percent, while Security Bank, GT Capital and BPI all gained over 1 ...

The Lopezes in business
The Standard - 2018-01-09
The share price of First Philippine Holdings has dropped lately to record 12-month lows. This values the company at P34.6 billion, down 17 percent from its 12-month peak of P41.56 billion in February 2017. The wealth of the Lopez family, which owns 50 ...

Meralco bares rate hike from tax reform
BusinessWorld Online - 2018-01-09
The staggered one-centavo increase could start in February, but if grid operator National Grid Corporation of the Philippines (NGCP ... alongside a simpler system for computing donor and estate taxes. Foregone revenues will be offset by the removal ...

Robinsons Bank, Pru Life forge bancassurance deal
BusinessWorld Online - 2018-01-09
These include the joint ventures of Bank of the Philippine Islands and Philippine American Life and General Insurance Co., PNB and Allianz, China Banking Corp. and Manulife Philippines, and Rizal Commercial Banking Corp. and Sun Life Financial Philippines.

Meralco to invest in 2 wind farms
BusinessWorld Online - 2018-01-09
Another project, St. Raphael Power Generation Corp., is a 50-50 partnership between MGen and Consunji-led Semirara Mining and Power Corp. It is also awaiting ERC approval of its 400-MW PSA with Meralco. The planned coal power plant in Calaca, Batangas has ...

PSE finds 60 securities compliant with Shariah
BusinessWorld Online - 2018-01-09
This includes Ionics, Inc., Keppel Philippines Properties, Inc., and Philab Holdings Corp. Four firms, meanwhile, were dropped from the list, namely Apex Mining Company, Inc., Asian Terminals, Inc., Philippine Estates Corp., and Philippine Realty and ...

Sta. Lucia to avail of P5-B corporate note facility
BusinessWorld Online - 2018-01-09
STA. LUCIA LAND, Inc. (SLI) plans to avail of a seven-year corporate note facility of up to P5 billion to pay its existing obligations as well as to finance the development of its projects. The property developer disclosed to the stock exchange on Tuesday ...

Duterte orders suspension of Zamboanga logging firms
CNN Philippines - 2018-01-09
The South Davao Development Company Inc. (SODACO), is under the mother company of DMCI. Piñol added SODACO holds a 60,000-hectare concession under the Integrated Social Forestry of the Environment Department.

Ikeda, Thai ace up
Business Mirror - 2018-01-09
CHIHIRO IKEDA rode on a fiery windup to card a three-under 68 and force a tie with Yupaporn Kawinpakorn of Thailand, two strokes ahead of Cyna Rodriguez at the start of the International Container Terminal Services Inc. (ICTSI) Beverly Place Ladies Classic ...

Aboitiz combines coal assets into subsidiary
Business Mirror - 2018-01-09
ABOITIZ Power Corp. said on Monday its subsidiary Therma Power Inc. (TPI) will rationalize its ownership in two coal-fired power plants in Bataan. AboitizPower said TPI is streamlining its share ownership structure in GNPower Mariveles Coal Plant Ltd. Co ...

Pru Life finally finds bancassurance partner
Business Mirror - 2018-01-09
Aside from growing its branches, the bank will also tap the ecosystem of the JG Summit Holdings Inc. to boost bancassurance sales. Robinsons Bank operates 134 branches nationwide and plans to open 19 more this year. "We now have 134 branches. We will ...

Adding value to life with Filinvest Mimosa + Leisure City
Malaya Business Insight - 2018-01-09
Malaya Business Insight's weekday sections treat readers to timely articles on shipping, banking, information and technology, automotive and motoring, real estate and property development, travel and tourism and people and sectoral events. Special issues ...

Revolution Precrafted pushes design democratization
Business Mirror - 2018-01-09
Meanwhile, Revolution Precrafted was recently tasked by the Century Properties Group (CPG) to design an active retirement village in its 142-hectare Batulao Artscape project near the foothills of scenic Mount Batulao in Nasugbu, Batangas. The world-class ...

Macea launches redeveloped parks in Makati
Business Mirror - 2018-01-09
Lagdameo, Makati City vice mayor; Mar-Len Abigail S. Binay, Makati City mayor; Belen C. Lim, executive vice president and Corporate Services Group head, Security Bank Corp.; Thailand Ambassador Thanatip Upatising; Arch. William V. Coscolluela, vice ...

Philippine antitrust watchdog approves SM bakeshop acquisition
Nikkei Asian Review - 2018-01-09
SM Retail is a sister company of SM Prime Holdings, the largest mall operator in the country. It leases space to many Goldilocks outlets as well as to competitors like Red Ribbon, a subsidiary of Jollibee Foods. PCC said that among the competition issues ...

PERC firms up P758M rights offer
Inquirer - 2018-01-09
PWEI is a joint venture among PetroGreen Energy Corporation (with a 40 percent stake), BCPG Public Co. Limited of Thailand (with 40 percent), and EEI Power Corp. (with 20 percent). PetroGreen is the 90 percent-owned subsidiary and the renewable energy ...

Ayala, Yuchengco tie up to create education powerhouse
Inquirer - 2018-01-09
For its part, Ayala brings to the table AC Education Inc. (AEI) and its subsidiaries University of Nueva Caceres, one of the oldest and largest universities in Bicol, aside from APEC Schools, the largest standalone chain of private high schools in the country.

Robinsons Bank, Pru Life team up on bancassurance
Inquirer - 2018-01-09
Gokongwei-led Robinsons Bank has teamed up with insurer Pru Life UK to sell basic protection products in its branches as part of its bid to be a more significant player in the highly-fragmented banking sector and debut into the underpenetrated local ...

Higher electricity bills likely starting February due to tax reform
Rappler - 2018-01-09
A Manila Electric Company (Meralco) official provided that estimate when asked about the full impact of the Tax Reform for Acceleration and Inclusion (TRAIN) law, which took effect on January 1 this year. (READ: Filipinos to feel impact of higher fuel tax ...

PLDT Clarktel, ePLDT and PLDT Enterprise break ground on first purpose-built disaster recovery facility - 2018-01-09
(L-R) PLDT Clarktel President and CEO Boy Castañeda, SVP and PLDT Enterprise head Jovy Hernandez, ePLDT President and Chief Revenue Officer of PLDT-SMART Eric Alberto, Clark Development Corporation Chairman Ping De Jesus, and CDC President and CEO Noel ...

Yuchengco, Ayala groups plan to merge education businesses
InterAksyon - 2018-01-09
Ayala Corp. and House of Investments Inc. told the local bourse that AC Education Inc. and iPeople, inc. have executed a non-binding term sheet for their potential merger. "Under the non-binding term sheet, the parties agreed to an exclusivity period to ...

Yuchengco, Ayala groups plan to merge education businesses - 2018-01-09
Ayala Corp. and House of Investments Inc. told the local bourse that AC Education Inc. and iPeople, inc. have executed a non-binding term sheet for their potential merger. "Under the non-binding term sheet, the parties agreed to an exclusivity period to ...

After 5 years in remission, priest battles cancer again
Philippine Daily Inquirer - 2018-01-09
Being a parish priest can be quite stressful," Ramos said. He can be reached at 0917-8438368. Donations can be deposited in his Metrobank account (#000-7-465-50418-4). Don't miss out on the latest news and information.

Three-decade old behest loans
Inquirer - 2018-01-09
According to reports, the anticorruption office has filed charges at the Sandiganbayan against three surviving directors of the then government-owned Philippine National Bank (PNB) for giving in 1980 and the succeeding years behest loans of about P200 ...

Prices of diesel, kerosene rise for 4th straight week
Philippine Daily Inquirer - 2018-01-09
Those that already announced price changes included Petron Corp., Pilipinas Shell Petroleum Corp., PTT Philippines Corp., Phoenix Petroleum Philippines Inc., Eastern Petroleum Corp., Flying V and Seaoil Philippines Inc. All these firms raised diesel prices ...

France: 2018 Finance bill and 2017 amended Finance bills - Company Taxation
Lexology - 2018-01-09
Two exceptional contributions have been put in place to finance this additional state cost. Companies subject to corporate income tax with a turnover of more than EUR 1 billion are liable for an exceptional contribution amounting to 15% of their corporate ...

Petron begins tender offer to bond owners
Business Mirror - 2018-01-08
PETRON Corp. will make a tender offer to holders of the $750-million securities listed on The Stock Exchange of Hong Kong Ltd. "[Petron] proposes to accept for purchase the securities up to $350 million on the terms and subject to the conditions ...

PSEi slips after 8-day winning streak
Inquirer - 2018-01-08
BDO, SM Prime and PLDT all declined by over 2 percent. Megaworld fell by 1.5 percent while Ayala Land, Ayala Corp., GT Capital, RLC and Semirara also declined. On the other hand, LTG surged by 10.35 percent on speculation of diversification into a new ...

Ayala, Yuchengco groups in talks to merge education units
BusinessWorld Online - 2018-01-08
In a joint statement, Ayala Corp. (AC) and House of Investments, Inc. (HI) announced they have executed a non-binding term sheet for the potential merger of AC Education, Inc. (AEI) and iPeople, Inc., which have a combined population of over 40,000 students.

FNI to reduce size of follow-on offering
BusinessWorld Online - 2018-01-08
Global Ferronickel -- formerly Southeast Asia Cement Holdings, Inc. and served as the backdoor listing vehicle of Platinum Group Metals Corp. (PGMC ... shares at a price of up to P4 apiece, the nickel producer said in a disclosure on Monday.