Pagbilao Energy set to operate $1-b coal-fired power plant in February
The Standard - 2018-01-02
TeaM Energy, the joint venture of Tokyo Electric Power Co. and Marubeni Corp ... secured by the company through joint arrangers composed of BDO Capital and Investment Corp., BPI Capital Corp. and First Metro Investment Corp. SB Capital investment Corp ...

Ayala Land increases stake in Malaysian property firm
Business Mirror - 2018-01-02
AYALA Land Inc. (ALI) said on Tuesday that it has further increased its controlling stake in Malaysian property developer MCT Berhad. This gives ALI the opportunity to buy all of the company. In its disclosure to the Philippine Stock Exchange (PSE), ALI ...

An icon of luxury in a thriving metropolis
Business Mirror - 2018-01-02
A premium upscale condominium development under the wings of Filigree, the newest mark of modern luxury living, Bristol at Parkway Place in Filinvest City, Alabang, is an enduring tribute to all there is to living well and living graciously. A landmark ...

Saso joins hunt
Business Mirror - 2018-01-02
TOP amateur Yuka Saso gets the chance to slug it out with the cream of the local pro crop in a field spiced up by a number of Thai aces as the International Container Terminal Services Inc. (ICTSI) Ayala Greenfield Ladies Challenge unfolds today in Calamba ...

The Asian Banker names Metrobank Best Trade Finance Bank in the Philippines
InterAksyon - 2018-01-02
Receiving the award from The Asian Banker is (2nd from left) Metrobank First Vice President Christian Paul Philippe D. Orlino, Institutional Transaction Banking Division. The Asian Banker is represented by International Resource Directors Bill Chua ...

PLDT, Smart ink another partnership deal with Huawei
Rappler - 2018-01-02
MANILA, Philippines - Listed PLDT Incorporated and its mobile unit Smart Communications Incorporated sealed a $28.5-million (P1.4-billion) partnership deal with China's Huawei Technologies Company Limited to improve the telco giant's wireless service ...

AboitizPower ready to take over Negros solar power project
Rappler - 2018-01-02
MANILA, Philippines - Aboitiz Power Corporation (AboitizPower) is set to take over the 59-megawatt (MW) solar power project in Negros Occidental, after it executed the deed of transfer overseas. The listed firm on Tuesday, January 2 told the local bourse ...

Third telco player still open to other investors, says Palace
Inquirer - 2018-01-02
So they need to find a partner," he said. Earlier, Philippine Telegraph and Telephone Corp. (PT&T) announced it was pursuing talks with the China Telecoms group over a possible partnership. Last week, PT&T also announced it signed a memorandum of ...

Tax reform fuels bullish sentiment
interaksyon.com - 2018-01-02
The Philippine Stock Exchange index (PSEi) -- a barometer of investor confidence ... "Ultimately, (local stocks) grow with the economy. We grow with Philippines, Inc. The infrastructure story definitely has an impact on how we will be viewed by ...

Boracay opens first-ever cinemas
Philstar - 2018-01-02
City Mall Commercial Centers Inc. (CMCCI), the community mall development arm of listed property firm DoubleDragon Properties Corp. (DD), partnered with ABS-CBN Corp. as they recently launched the first cinemas on the world-class island. Located inside the ...

PLDT, Smart sign up Huawei for $28.5-M transformation project
interaksyon.com - 2018-01-02
MANILA, PHILIPPINES -- Telecom firm PLDT and its mobile unit Smart Communications announced on Tuesday, Jan. 2, that it has picked Chinese network equipment maker Huawei for a $28.5-million initiative aimed at transforming its wireless service delivery ...

PLDT taps Huawei for $28.5M upgrade
Inquirer - 2018-01-02
Espinosa, PLDT group chief corporate services officer. "This involves consolidating similar applications for different brands under one system and streamlining business processes through a unified platform and simplified processes," he said.

Villar group eyes spending P175B for business growth
Business Mirror - 2018-01-01
Villar said the capex will be funded by both internally generated cash, as well as borrowings. "We still have room for a public offering by Starmalls Inc.," he said. "Vista Land could raise more from bonds." Starmalls is a unit of Vista Land that ...

Over 1,000 Meralco customers drawn to net metering scheme
Philstar - 2018-01-01
MANILA, Philippines -- Manila Electric Co. (Meralco) has hit the 1,000th mark under the net metering program in its franchise area as more electricity customers continue to shift to renewable energy use, a company official said. Net metering customers in ...

Construction of R-10 harbor link to start this year
BusinessWorld Online - 2018-01-01
CONSTRUCTION of the Radial Road (R-10) section of the North Luzon Expressway Harbor Link Segment 10 is set to begin early this year. "That will start early 2018," Manila North Tollways Corp. (MNTC) president and CEO Rodrigo E. Franco said in a text ...

Duterte signs 13 nat'l laws in 2017
CNN Philippines - 2018-01-01
Duterte also signed RA 10925 and RA 10926 into law, which respectively extended the franchise of GMA Network and Smart Communications, Inc. While the majority of Congress was expected to back administration measures, opposition congressman Albay Rep.

Poll bares view of steady Dec. inflation
BusinessWorld Online - 2018-01-01
"If inflation drifts closer towards the upper end of the target range at the start of the year, we might see the central bank raise key interest rates -- albeit modestly -- in the near term," said Security Bank Corp. economist Angelo B. Taningc

Puregold to open 25 stores this year
BusinessWorld Online - 2018-01-01
PUREGOLD Price Club, Inc. will continue the expansion of its supermarket business in 2018 as it plans to open 25 new stores. "We plan to roll out 25 new Puregold stores in 2018," Puregold Vice-President for Investor Relations John Marson T. Hao said in ...

PUV category eyed for ride-sharing companies
BusinessWorld Online - 2018-01-01
Uber includes a surcharge of P80 when drivers use the Skyway, Magallanes, and C-5 and exit points of Bicutan and Sucat; P100 for exit points of Alabang, Filinvest and Susana Heights; and P60 for areas east of Metro Manila like Antipolo, Rizal. Uber said ...

CAVITEx toll fee hike proposed
BusinessWorld Online - 2018-01-01
CAVITEX INFRASTRUCTURE Corp. (CIC) and the Philippine Reclamation Authority (PRA) have proposed a toll fee increase for the R-1 Expressway and R-1 Expressway Extension of the Manila-Cavite Expressway (Cavitex). In a petition to the Toll Regulatory Board ...

Shares rise to new high in shortened trading week
BusinessWorld Online - 2018-01-01
MBT (Metropolitan Bank & Trust Co.) up 3.5% and BPI (Bank of the Philippine Islands) up 2%. On the other hand, retail investors were very active in 2 nd tier real-estate companies like IDC (Italpinas Development Corp.) up 31.1% and HOUSE (8990 Holdings ...

Petron refinery expansion seen completed by 2020
Business Mirror - 2018-01-01
THE refinery expansion of Petron Malaysia Refining & Marketing Bhd. could be finished in two years, its top official said. "If it is a go, it will be finished in year 2020," Petron President Ramon Ang said. "The Malaysian expansion, if we will add ...

Cavitex eyes 20% expansion in H2
Business Mirror - 2018-01-01
It is included in the tollways portfolio of Metro Pacific Investments Corp., the largest expressway operator in the Philippines. The infrastructure holdings company also has interests in tollroad companies in Thailand and Vietnam.

Hedcor to supply Socoteco 20MW of power
Business Mirror - 2018-01-01
A SUBSIDIARY of Aboitiz Power Corp. will supply 20 megawatts (MW) of electricity to South Cotabato II Electric Cooperative Inc. (Socoteco II). Hedcor Bukidnon signed a renewable-energy (RE) supply agreement with the electric cooperative, which serves ...

The PSE deserves more respect
Business Mirror - 2018-01-01
and SM Prime Holdings, also up 32 percent. But supposedly the Philippine stock market is a bad investment because only about 1 percent of Filipinos are investors. Maybe that says more about the Filipino than it says about the Philippine Stock Exchange (PSE).

Superliga teams tinker with coaching staff
Business Mirror - 2018-01-01
Pascua, who steered Petron to two titles three years ago, will bring his winning tradition and try to resuscitate the Lady Realtors, who went winless in the Invitational Cup before finishing in sixth place in both the All-Filipino and Grand Prix.

Govt urged to fill ERC vacuum
The Standard - 2018-01-01
Aboitiz Power Corp. president Antonio Moraza said the suspension could spell "disaster" for the energy industry while Semirara Mining and Power Corp. chairman Isidro Consunji said he was hoping the ERC could resume normal business soon. "I hope the ...

9 Asian business newsmakers to watch in 2018
Nikkei Asian Review - 2018-01-01
And investors will be watching how he nurtures FamilyMart Philippines, the convenience store chain he bought from Ayala Land in October. Uy recently acquired a shell company as well -- an entity that is likely to serve as a backdoor listing vehicle for one ...

Labor group pushes for passage of safer workplace bill
Philippine Daily Inquirer - 2018-01-01
These orders cover different industries and workplaces--including manufacturing, construction, mining operations and power plants--and mostly ... and the collapse of the open-pit coal mine of Semirara Mining Corporation in Antique in July 2015, burying ...

Security Bank opens 300th branch in countryside expansion
Inquirer - 2018-01-01
Local banking giant Security Bank Corp. has breached the 300th milestone in its branch network in line with its thrust to expand its retail banking business nationwide. The 300th branch was recently inaugurated in San Jose, Nueva Ecija, in Central Luzon as ...

An optimistic outlook for 2018
Inquirer - 2018-01-01
For the millions of Filipinos who have to bear with the inefficient and expensive internet services of PLDT Inc. and Globe Telecom, there is light at the end of the tunnel. President Duterte has served notice of his desire that the Chinese telco poised to ...

PLDT fintech unit reaching out to unbanked Filipinos
Inquirer - 2018-01-01
The caravan made its way to rural communities, such as: Kiangan, Ifugao; Moncada, Tarlac; Barotac Nuevo, Iloilo; Aragao, Cebu; Braulio E. Dujali, Davao del Norte; and Sugbongcogon, Misamis Oriental. In the first quarter of 2018, Landbank is poised to bring ...

Generika-Ayala parts ways with Vicente
Philstar - 2018-01-01
His brightest moment with the Lifesavers came in the quarterfinals of the PSL Grand Prix when the Lifesavers pushed powerhouse Petron to the limit before swallowing a five-set beating. With Darlene Ramdin, Penina Snuka and Katarina Pilepic as imports ...

K-State students earn $34.4M of scholarship funds
The Mercury - 2018-01-01
Milling Scholarship; Anastasia Cooper ... Nuclear Energy Scholarship Program; Victoria Everett, Vanier Family Scholarship at Kansas State University; Byron Evers, Bernard E. and Estelle L. Foote Scholarship in Agriculture; Fatoumata Faburay, Community ...

Seda hotel chain eyes 3,500 rooms in 15 locations by 2019
Business Mirror - 2017-12-31
Ayala Land Inc., through Ayala Land Hotels and Resorts Corp., plans to ramp up the rollout of its Seda hotel brand to more than double capacity to 3,500 rooms by 2019, as it rides the tourism boom. Senior group General Manager Andrea Mastellone said the ...

Ladies golf tour on
Business Mirror - 2017-12-31
But the 19-year-old rising star is expected to have recovered, ready to slug it out with her fellow fancied Filipinas and a slew of Thais out to extend their domination of the tour backed by Custom Clubmakers, BDO, Meralco, Sharp, KZG, PLDT, Champion ...

Keystone habit
Business Mirror - 2017-12-31
Nonetheless, there is so much to be thankful for. These people include pastors Niels, Gary and Ernie, who have provided me spiritual guidance as I walk in faith; my immediate bosses in Philippine Airline, Jimmy and Stewart and colleagues in senior ...

Gokongwei Brothers Foundation celebrates 25th year
Inquirer - 2017-12-31
Gokongwei Brothers Foundation (GBF) is celebrating its 25th anniversary with a commitment to making a lasting impact on education in the Philippines ... of the De La Salle University Gokongwei College of Engineering (DLSU-GCOE). At present, three ...

Deadly NY blaze sparked by boy playing with stove
Philippine Daily Inquirer - 2017-12-31
Four people remain in a critical condition following the inferno, which Mayor Bill de Blasio called the "worst fire tragedy we have seen in this city in at least a quarter century ... lost their homes, lost everything, and we grieve with them."

Marawi rehab program wins support
Inquirer - 2017-12-30
Other companies that have pledged their support include: Udenna Corp, Ayala Foundation, PLDT/Smart, Aboitiz Group, Jollibee Foods Corp, Pepsi Cola Philippines, FF Cruz, Meralco, Coca Cola, World Vision, Oxfam, Cebuana Lhuillier, San Miguel Foundation ...

Purchasing power over real property
Inquirer - 2017-12-30
"On weekdays, throngs of Filipino men in the Rizal Park (popularly known as Luneta) congregate near booths of manning agencies which recruit workers to be deployed on foreign ships," wrote Jean Encinas-Franco of the University of the Philippines ...

Fukushima looks to top-tier sake to beat stigma, lift econ
Business Mirror - 2017-12-30
Many of the 50,000 people forced to leave their homes have no plans to return ... raising the bar for the entire prefecture. At one three-century old brewery, the focus is now on using organic rice, while at another an older, more time-consuming technique ...

Metrobank gets BSP nod to buy out ANZ stake in credit card venture
Inquirer - 2017-12-30
Local banking giant Metropolitan Bank & Trust Company has obtained approval from the Bangko Sentral ng Pilipinas to proceed with its buyout of a 40-percent stake in financing firm Metrobank Card Corp. (MCC) from partner ANZ Funds Pty Ltd. Metrobank ...

Phinma, PSALM end row over Leyte plant
Inquirer - 2017-12-30
In November 2013, Phinma Energy--then named Trans-Asia Oil and Energy Development Corp.)--was declared one of the winning bidders with the right to administer 40 MW "strips of energy" from the ULGPP. In the same month, Supertyphoon "Yolanda" hit ...

Power consumers should brace for TRAIN impact
Business Mirror - 2017-12-30
Moreza said the additional power projects are on track and should be mostly online in the first half of 2018. For Alsons Consolidated Resources Inc. (ACR), company vice president for business development Joseph Nocos stressed that coal still accounts for a ...

2017: A Year of Mobilizing Science for the People
Bulatlat - 2017-12-30
The year 2017 was a historic period for the science and technology movement not just in the Philippines, but around the world. Amid the continuing neglect of scientific development, expanding privatization of public utilities, attacks on science ...

20 biggest business news of 2017
The Standard - 2017-12-30
The year 2017 proved to be both challenging and exciting for the business sector, given the policy reforms and economic developments that shaped the local market. The Philippines emerged as one of the fastest growing economies in the world in 2017, which ...

King Sisig Royal embarks on rapid expansion
The Standard - 2017-12-30
"Our strongest King Sisig branches are located at Isetann, Metropoint, and Ever Gotesco. For Bulalo World, Dasmarinas, Isetann and Metropoint are our prime, high-performing footholds," Iso said. As King Sisig Royal takes an even bolder leap to further ...

DOTr expects new MRT3 maintenance provider by May 2018
Rappler - 2017-12-30
The DOTr earlier granted the original proponent status to the Metro Pacific Investments Corporation (MPIC) group for the rehabilitation, operations, and maintenance of the MRT3. The unsolicited proposal is now up for review of the National Economic and ...

Broadcasting firm diversifying into hotel, resort business
Inquirer - 2017-12-30
Radio broadcasting group Manila Broadcasting Co. (MBC) is diversifying into the hospitality and leisure estate business by taking a controlling interest in affiliate Elizalde Hotels and Resorts Inc. (EHRI). In a disclosure to the Philippine Stock Exchange ...