Atencio exits 8990 board
Philstar - 2018-01-03
His resignation from the board took effect Jan. 1, 2018. He said the success of 8990 is not just because of his efforts but also because of the leadership and guidance of his business partners Luis Yu, the founder of 8990 and Martinez, as well as the ...

BPI ties up with Lulu Exchange
Philstar - 2018-01-03
MANILA, Philippines -- Bank of the Philippine Islands (BPI) has tied up with one of the leading foreign exchange and remittance service providers in the Gulf ... to $23.06 billion from $22.12 billion. Business ( Article MRec ), pagematch: 1 ...

Phinma Energy to withdraw lawsuit vs Psalm after Ippa deal terminated
Business Mirror - 2018-01-02
THE Power Sector Assets and Liabilities Management (PSALM) Corp. and Phinma Energy Corp. have agreed to terminate the Independent Power Producer Administrators (Ippa) agreement for the 40-megawatt (MW) strip of energy of the Unified Leyte Geothermal Power ...

A thank you from JAZA
The Standard - 2018-01-02
I was pleasantly surprised to receive a thank you letter dated Dec. 21, 2017 from Ayala Corp. Chair and CEO Jaime Augusto Zobel de Ayala, one of Philippine business ... by the solid contributions of its real estate and power generation businesses.

Top 1000 firms show PH growth story intact - 2018-01-02
Petron Corp. stayed put in second place. The subsidiary of San Miguel Corp. saw a 4.3% decline in gross revenue to P230.99 billion and a 3.6% increase in net income to P5.7 billion. Toyota Motor Philippines Corp. leaped four places to grab the third spot ...

P.A. Properties, Hankyu Realty break ground of joint venture development
BusinessWorld Online - 2018-01-02
Hankyu Realty, which was founded in 1947 and is the property arm of Japanese conglomerate Hankyu Hanshin Holdings ... is able to address such demand, the company noted. "This will be our first project here in the Philippines," Hankyu Realty Deputy ...

Factory activity growth eases, still ‘solid’
- 2018-01-02
By Elijah Joseph C. Tubayan Reporter IMPROVEMENT of operating conditions of factories in the country eased in December but remained “solid,” setting the stage for “stronger growth” this year, according to a monthly survey IHS Markit conducts for Nikkei, Inc. The seasonally adjusted Nikkei Philippines Manufacturing Purchasing Managers’ Index (PMI) stood at 54.2 in December, …

8 must-visit PHL destinations for 2018
Business Mirror - 2018-01-02
There are also a number of heritage homes designed in the bahay na bato mold prevalent ... which was established by the Jesuit Order in the 16th century, according to Loyola. To get to these islands, take a van or jeepney from Catarman to Victoria (if ...

Phinma to withdraw case against PSALM
BusinessWorld Online - 2018-01-02
Phinma Energy, then named Trans-Asia Oil and Energy Development Corp., was declared on Nov. 7, 2013 as one of the winning bidders with the right to administer the strips of energy from the plant. On Nov. 8, 2013, typhoon Yolanda severely hit Region 8 ...

Petron eyes expanding Malaysian refinery operations
CNN Philippines - 2018-01-02
Metro Manila (CNN Philippines, January 2) -- Oil giant Petron is planning to hike its production output in Malaysia. Petron on Tuesday said it is reviewing the expansion of its Malaysian refinery. "We confirm that the Company is reviewing the expansion of ...

Metrobank is Best Trade Finance Bank in the Philippines
Business Mirror - 2018-01-02
Metrobank was recently awarded the Best Trade Finance Bank in the Philippines for 2017 by The Asian Banker. The Bank provided top-notch services through the strength of its extensive offshore branch network. Metrobank is beefing up its capacity to support ...

Your saving habits mean that much to your loved ones abroad
Business Mirror - 2018-01-02
In the Philippines, MoneyGram has partnered with agents like SM, BDO, Metrobank, Cebuana Lhuillier, M. Lhuillier, Allied Bank, and Smart Money, so that recipients can pick up their money at the most convenient location. By employing these starter tips on ...

BPI inks fund-transfer deal with Middle East remittance company
Business Mirror - 2018-01-02
The Bank of the Philippine Islands (BPI) bared on Tuesday its partnership with Abu Dhabi-based LuLu Exchange to better service overseas Filipino workers (OFWs) sending money back home. BPI said the partnership with LuLu Exchange would allow OFWs to ...

Ayala Land gains control of big Malaysian developer
The Standard - 2018-01-02
Property developer Ayala Land Inc. is taking a majority control of Malaysian development and construction company MCT Bhd by acquiring an additional 17.24-percent stake for 202.5 million Malaysian ringgit, or around P2.55 billion. Ayala Land said in a ...

VLL sees double-digit income, revenue growth through 2020
Business Mirror - 2018-01-02
PROPERTY developer Vista Land & Lifescapes Inc. (VLL) said it is expecting to continue to register double-digit revenue and profit growth in the next three years. VLL Chairman Manuel B. Villar Jr. said the firm may post between 12-percent and 15-percent ...

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 - 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 - 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 ...