HSBC sees inflation peaking near 4% by midyear before receding
BusinessWorld Online - 2018-01-08
The Hong Kong and Shanghai Banking Corp. (HSBC) said the full impact of the tax reform ... alongside a simpler system for computing donor and estate taxes. Foregone revenue will be offset by the removal of some exemptions to value-added tax as well as ...

Metro Retail temporarily shuts Cebu department store
BusinessWorld Online - 2018-01-08
Metro Gaisano after the fire that struck last Friday night. -- PHILSTAR/ALDO NELBERT BANAYNAL METRO RETAIL Stores Group, Inc. (MRSGI) has temporarily closed one of its department stores in Cebu following a fire that lasted for more than 24 hours last week.

PSE index snaps rally as investors pocket gains
BusinessWorld Online - 2018-01-08
Regina Capital Development Corp. Managing Director Luis A ... Inc. giving up 2.31% to P156.30 apiece. SM Investments Corp. added 0.49% to P1,025 each, while SM Prime Holdings, Inc. lost 2.41% to P38.40.

PetroEnergy Resources sets final offer price
BusinessWorld Online - 2018-01-08
PETROENERGY Resources Corp. has set the price of its stock rights offering at P4.8 per share, a discount over its average price in a 10-day trading period, the company said on Monday. The Yuchengco-led company said the proceeds of the rights offering will ...

Yuchengo, Ayala to put schools under one roof
Business Mirror - 2018-01-08
a relatively new entrant in the education industry following the introduction of the senior high school system. The Yuchengco firm also owns Malayan Colleges Laguna and Malayan Colleges Mindanao. Ayala owns University of Nueva Caceres, one of the oldest ...

Megawide partners with UEM on P2-billion water-reclamation facility
Business Mirror - 2018-01-08
Megawide told the local bourse the design and other preconstruction work on its first project with Maynilad Water Services Inc. will begin this January. Once completed, the Las Piñas Water Reclamation Facility will allow the water company to recover some ...

Metro Pacific completes due diligence on MRT 3
The Standard - 2018-01-08
Metro Pacific Investments Corp. completed the due diligence for the takeover of Metro Rail Transit Line 3, Transportation Secretary Arthur Tugade said Monday. Tugade said the Department of Transportation was now evaluating the offer of MPIC, although he ...

FNI reduces price offer to P4 a share
The Standard - 2018-01-08
Nickel miner Global Ferronickel Holdings Inc. reduced by more than half the size of its planned share sale to P1 billion, after trimming the offer price to P4 per share. GFNI said in a disclosure to the stock exchange it amended its registration statement ...

Philippine groups Ayala, Yuchengco to merge education units
Nikkei Asian Review - 2018-01-08
Merger talks include the involvement of Ayala and iPeople parent House of Investments in managing the surviving entity, which owns Mapua University, a top engineering school. The potential merger "would create significant synergies that would enable us to ...

Yuchengcos, Ayalas plan merger of education businesses
Rappler - 2018-01-08
Yuchengco-owned iPeople Incorporated and Ayala Corporation's AC Education Incorporated (AEI) have executed a non-binding term sheet for their potential merger, both parties disclosed to the Philippine Stock Exchange (PSE). The non-binding term sheet states ...

PSE named Southeast Asia's best stock exchange again
Rappler - 2018-01-08
MANILA, Philippines - The Philippine Stock Exchange (PSE) was named the best bourse in Southeast Asia by institutional investment magazine Alpha Southeast Asia, citing its investments, literacy initiatives, products launched, and technology developments ...

Globe blocks nearly 2,500 illegal sites with #PlayItRight
Inquirer Technology - 2018-01-08
Globe Telecom stepped up its drive versus illegal content by blocking a total of 2,471 domains or sites in 2017 that hosted lewd content and child pornography as part of its #PlayItRight advocacy campaign. The company has taken a stronger stance to combat ...

Philippines stocks lower at close of trade; PSEi Composite down 0.28% - 2018-01-08
Falling stocks outnumbered advancing ones on the Philippines Stock Exchange by 128 to 75 and 42 ended unchanged. Shares in LT Group Inc (PS:LTG) rose to 3-years highs; gaining 10.35% or 1.960 to 20.900. Shares in San Miguel Corp (PS:SMC) rose to 3-years ...

YEARENDER : As competition tightens, oil firms detour into non-fuel business - 2018-01-08
The three major oil, players, namely Petron Corp., Pilipinas Shell Petroleum Corp. and Chevron Phils. cornered 55.9 percent of total demand, while other industry players and end-users captured 35 percent and nine percent, respectively, as of end-June 2017.

Megawide, Toshiba unit bag P2B Maynilad water project
Inquirer - 2018-01-08
Construction and infrastructure group Megawide Construction Corp. has teamed up with a unit of Toshiba Group to build a P2-billion water reclamation engineering project for Maynilad Water in Las Piñas. The design and build contract for the facility ...

Ayala, Yuchengco to merge education businesses
Inquirer - 2018-01-08
area and Malayan Colleges Mindanao. 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, and APEC Schools, the largest stand-alone chain of ...

39-hour blaze fires up best among Cebuanos
Philippine Daily Inquirer - 2018-01-07
Jeanette Japzon, corporate communications manager of Cebu Holdings Inc., said a supplier earlier sent food packs and posted an appeal on Facebook for more food for firefighters. It started a wave of donations of food. "The relentless spirit kept us going ...

Capital restructuring eyed to address PT&T debt woes
Inquirer - 2018-01-07
Listed Philippine Telegraph & Telephone Corp. (PT&T) is poised to implement a capital restructuring plan that would settle long-running obligations ahead of the entry of a foreign strategic partner. A key feature of the plan, according to PT&T chief ...

Three-decade old behest loans
Inquirer - 2018-01-07
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 ...

Daily Mirror - 2018-01-07
Chairman of the Monitoring and Advisory Committee of the Ministry of Power & Energy; Member, Governing Council, National Institute of Business Management and Member, Board of Management, the Post Graduate Institute of Management.

Globe Telecom expects to spend over P42B this 2018
Rappler - 2018-01-07
MANILA, Philippines - Globe Telecom Incorporated has set an $850 million (P42.38 billion) capital spending budget for 2018 alone, same level as last year, mainly to fund its commitment to provide fast internet service to two million homes by 2020.

Investors seen hedging against market challenges
Business Mirror - 2018-01-07
There were three follow-on offerings of dollar denominated securities: two by Del Monte Pacific Ltd. and one by Cirtek Holdings Philippines Corp. "The equity issues this year will mostly be new issues. Most of the old issues before will probably not be ...

Labor group urges govt to inspect all PHL malls citing fire-safety standards violations
Business Mirror - 2018-01-07
The Metro Retail Group Inc., for its part, said all customers and mall personnel ... Inspecting malls, he added, will help in the reduction of fire incidents in department stores. "There is a widespread violation of malls owners to fire-safety standards ...

PPP Conversations No. 11 with PPA GM Jay Santiago
Business Mirror - 2018-01-07
It has embarked, successfully at that, on the privatization of Manila International Container Terminal, South Harbor ... ports has resulted in enormous improvement in the quality of services, not to mention the immense contribution that these terminals ...

Happy socks
Business Mirror - 2018-01-07
The secret, I believe, is in its color. I have yet to see happy socks that are not colorfully bright. During the Philippine Airlines (PAL) Christmas Party last month, the theme was "Makulay na Pasko." Employees performed various dances common during ...

Select public schools continue to receive gift of digital learning
Business Mirror - 2018-01-07
These come in the form of a TechnoCart and School-in-a-Bag, both created by PLDT wireless unit Smart Communications. The TechnoCart, which can be wheeled from one room to the next, contains 20 tablets, a projector, a laptop-tablet and a pocket Wi-fi with ...

PHL, Japan to complete talks on new MRT-3 maintenance agreement
BusinessWorld Online - 2018-01-07
TALKS BETWEEN the Philippine and Japanese governments for a new maintenance deal for the Metro Rail Transit-3 (MRT-3)are seeing progress with exchange of notes verbales to be completed by today, Jan. 8. "The exchange of note verbales [notes verbale ...

Business looks southward even as reality hits home
BusinessWorld Online - 2018-01-07
Amid the standoff between the army and militants in Marawi, Metro Pacific Investments Corp. (MPIC) pushed through last June with its acquisition of a 50% stake in Alcantara-led Alsons Thermal Energy Corp., which owns base load coal-fired power plant assets ...

Boosting tourism after Marawi
BusinessWorld Online - 2018-01-07
The department has designated tourism clusters so that neighboring regions can work together to promote tourism: the North Philippine cluster, the South Philippine cluster (which includes Regions 4A, 4B and 5 in Luzon), One Mindanao and the Visayas Cluster.

Over 153,000 devotees take part in 'Pahalik' before Traslacion
CNN Philippines - 2018-01-07
Globe Telecom will temporarily cut mobile service in Manila, Quezon City, Mandaluyong, Makati, and other neighboring areas starting 5 a.m. tomorrow. Smart Communications will do the same but only along the Traslacion route where officials earlier said ...

New DCCCII president remains bullish on Davao City
Mindanews - 2018-01-07
a high-rise twin-tower condominium project of Anchor Land Holdings, Inc. (ALHI), in partnership with Plaza De Luisa Development Corp.; Obsidian Suites and Ivory Residences, a project of Santos Land Development Corp; and, Dusit Thani Residences. The ...

Sunken park regains past glory
Philippine Daily Inquirer - 2018-01-07
The Manila Philharmonic Orchestra, University of Santo Tomas Singers and singer Morissette Amon performed at Quezon Convention Center. "This is our expression of thanks for the awards and recognition that the provincial government have received ...

Petron brings holiday cheer to 3,000 scholars
Inquirer - 2018-01-07
Petron Foundation general manager Charmaine Canillas expressed her gratitude for partners such as DepEd and local government units, who share in their mission of providing a better future to the youth of today. "Making a lasting difference in the lives ...

Market correction seen after a strong 2018 start
The Standard - 2018-01-07
Weekly top price losers, meanwhile, were First Gen Corp., which declined 5.2 percent to P16.12, Globe Telecom Inc. which dropped by 5 percent to P1,805 and Golden Haven Inc. which dipped 4.56 percent to P21. Wall Street stocks, meanwhile, powered higher ...

Group urges fire safety audit of all shopping malls
Philippine Daily Inquirer - 2018-01-07
The Associated Labor Unions-Trade Union Congress of the Philippines (ALU-TUCP) on Sunday called for a fire safety audit of shopping malls across the country following reports of widespread violation of fire safety standards by property owners. The proposal ...

Smooth operator
Inquirer - 2018-01-07
In service, the guest experience satisfaction is high. We manage financial aspects of the business: Costs are controlled; expenses are incurred efficiently; budgets are met, and the owners get their desired return on investment. Lastly, the assets of the ...

PSE index hits new high, breaks 8,800
Inquirer - 2018-01-07
Ayala Corp., Ayala Land and JG Summit all advanced by over 2 percent while DMCI added 1.94 percent. BPI, Megaworld and Meralco also contributed modest gains. On the other hand, SM investments shed 2.86 percent while Security Bank, PLDT and Metro Pacific ...

Utilities grow faster on increased demand
BusinessWorld Online - 2018-01-07
while Manila Water Co., Inc. reported a 2% increase in net income in 2016 to P6.07 billion from P5.96 billion a year ago, with the company maintaining growth in its service connections at 3% as it breached the million mark at 1,008,918 last year.

Casinos, resorts remain strong despite setbacks
BusinessWorld Online - 2018-01-07
Growth was likewise reflected in earnings of casino-resorts. Melco Crown (Philippines) Resorts Corp., the operator of the City of Dreams Manila, reported a 63% jump in its net revenues driven by improved volumes across all gaming as well as its non-gaming ...

Fire hits Aboitiz power utility in Davao City
Philippine Daily Inquirer - 2018-01-07
Teresita Gaspan, the Davao City Police Office spokesperson, said the blaze hit the data center of the Aboitiz-owned power utility along Ponciano Reyes ... where DLPC officials hold office and where the company conducts its business transactions.

Probers checking for violations of safety rules in Cebu mall fire
Philippine Daily Inquirer - 2018-01-06
Had the Metro Ayala sprinklers functioned, the damage could not have been this bad," he said. Vince Tomaning, legal officer of Vicsal Development Corp., said they were closely working with the BFP and other emergency response teams to manage the situation.

The big screen reaches sandy shores
Philstar - 2018-01-06
CityMall Commercial Centers Inc. (CMCCI) in partnership with ABS-CBN Corp. launched the first-ever cinema in the island of Boracay, and the only theater in the province of Aklan. Located inside CityMall-Boracay, the cinema features two theaters with a ...

Business Corner
The Pioneer - 2018-01-06
The cooperation and convergence among the state public, private and other stakeholders in the state and sharing of information, technology, knowledge, and resources, can play a key role in mutual development ... Lt Gen BS Sahrawat, SM.

Carmen Copper lauded for good labor-management relations
Philstar - 2018-01-06
It was still managed by then by Atlas Consolidated Mining and Development Corporation and was hailed as the third largest copper mine in the world. With other factors at play, the operations in the mining pits were indefinitely suspended beginning in 1994 ...

Eastern Samar: Rising from the Pacific
Business Mirror - 2018-01-06
Still on the Philippine-US relations, do you know that the United States ... Recently, the city government signed a memorandum of agreement with a cooperative airline company for a regular flight between Cebu and Borongan. Currently, the nearest airport ...

Metro Gaisano fire still raging, may last beyond Jan. 8
CNN Philippines - 2018-01-06
The local government warned residents against fumes from the ongoing fire. "Everyone living or staying near Cebu Business Park, who have cardiovascular problem, is advised to temporarily evacuate or transfer to safer area due to heavy hazardous or toxic ...

John Lloyd Cruz, Ellen Adarna to have a beach wedding soon?
InterAksyon - 2018-01-06
The father is reportedly Raymond Racaza, chief operating officer of Xurpas, a technology solutions company specializing in gaming apps. Prior to John Lloyd, Ellen has also been romantically linked with actors Diether Ocampo and Ejay Falcon, businessmen ...

John Lloyd Cruz, Ellen Adarna to have a beach wedding soon? - 2018-01-06
This supposedly was the reason why she was unable to attend the recent wedding of bosom buddy Anne Curtis in New Zealand. The father is reportedly Raymond Racaza, chief operating officer of Xurpas, a technology solutions company specializing in gaming apps.

Commentary: Good local open pit mining models to emulate
Philstar - 2018-01-06
As regards the concern of Duterte, With such declarations, the president may be coming from a perspective that largely takes into account the so-called "legacy ... an environment fellow at the Stratbase-ADR Institute and the secretary-general of ...

The passing of the Train
Inquirer - 2018-01-06
Companies like leading mass housing developer 8990 Holdings Inc., for one, was reportedly eyeing to launch about P60 billion worth of new projects this year as it remains committed to its mission of providing affordable, decent homes to ordinary Filipinos.