NLEX, SCTEX sets up more toll booths for Christmas rush
CNN Philippines - 2017-12-21
The NLEX Corporation, the concessionaire of the North Luzon Expressway (NLEX) and the Subic-Clark-Tarlac Expressway (SCTEX), said on Friday that it will increase toll collection booths and suspend all roadwork until January 2, 2018 in order to facilitate ...

Meralco seeks ERC clarification on FIT
Philstar - 2017-12-21
MANILA, Philippines -- Manila Electric Co. (Meralco) is asking the Energy Regulatory Commission (ERC) to clarify that feed-in tariff (FIT) payments to renewable energy (RE) developers should be based on meters as these are being charged to consumers.

Petron spending $5 B to double Bataan refinery output in 3 years
Philstar - 2017-12-21
MANILA, Philippines -- Petron Corp. is investing $5 billion to double the capacity of its Bataan refinery in three years, its top official said. Petron president and CEO Ramon Ang said the oil refiner would expand the capacity of its refinery by an ...

Udenna dips into water business
Philstar - 2017-12-21
Udenna will also do a mandatory tender offer for the H2O shares pursuant to the Securities Regulation Code. Uy, chairman of Phoenix Petroleum, has been on a non-stop buying spree and has been aggressively growing his conglomerate. He has acquired Enderun ...

PT&T, Chinese firm to explore free Wi-Fi during disasters
Rappler - 2017-12-21
MANILA, Philippines - Newly-invigorated Philippine Telegraph & Telephone Corporation (PT&T) and a Chinese wireless network firm agreed to explore the possibility of offering free wireless broadband services during natural disasters. In a disclosure to ...

H2O buyout priced at around P2.17 per share
Inquirer - 2017-12-21
Udenna has committed to make a tender offer to other minority shareholders, giving them the option to exit in view of the change in control and prospective change in business. The deal, however, is priced at a much lower level than the P7.45 per share ...

8990 Holdings remains bullish on potentials of mass housing
Business Mirror - 2017-12-21
EXECUTIVES of 8990 Holdings Inc. on Thursday said they remain bullish on the growth prospects of the affordable housing industry in Metro Manila, as the mass-housing builder promises to spend P8 billion by 2020 on its largest development, Urban Deca Homes ...

PSBank announces holiday bank schedules
Inquirer - 2017-12-21
PSBank announced on Thursday that all of its branches would be closed but its automated teller machines (ATM) would be open on Dec. 25. PSBank said in its advisory that its 613 ATMs and online services would be available during Christmas Day to cater to ...

BANK ADVISORIES | BDO, BPI, PSBank announce holiday sked
InterAksyon - 2017-12-21
MANILA - Banco de Oro, Bank of the Philippine Islands and its daughter bank BPI Family Bank, and PS Bank have issued advisories to guide customers on their extended hours and special schedule for the busy holiday season. BDO said in a statement that ...

BANK ADVISORIES | BDO, BPI, PSBank announce holiday sked - 2017-12-21
MANILA - Banco de Oro, Bank of the Philippine Islands and its daughter bank BPI Family Bank, and PS Bank have issued advisories to guide customers on their extended hours and special schedule for the busy holiday season. BDO said in a statement that ...

7 firms to submit joint NAIA rehab plan - 2017-12-21
The consortium, composed of Aboitiz Infra Capital, Inc., AC Infrastructure Holdings Corporation ... outside Metro Manila," they said in separate disclosures to the Philippine Stock Exchange. The consortium believes this approach promotes greater economic ...

Philippines boosts cybersecurity ahead of China Telecom entry
Reuters - 2017-12-21
Duterte last month offered Beijing a chance to challenge the dominant carriers PLDT Inc and Globe Telecom Inc. He wants a third telecoms player to start operations in the first quarter next year, to break a duopoly and boost competition and service quality.

Manila Water signs P2.4-B loan deal
Philstar - 2017-12-21
MANILA, Philippines -- Boracay Island Water Co. Inc., a unit of Ayala-led Manila Water Co. Inc ... as well as refinance an existing loan," the company said. Business ( Article MRec ), pagematch: 1, sectionmatch: 1

Aboitiz unit buying SunEdison
Inquirer - 2017-12-21
A Singapore-based subsidiary of Aboitiz Power Corp. earlier this month signed an agreement to buy all shares of SunEdison Philippines Helios BV, a unit of Dutch firm SunE Solar BV. It said in a disclosure that the offshore execution of the deed of transfer ...

Ombudsman suspends all 4 ERC commissioners for one year
Philippine Daily Inquirer - 2017-12-21
Pangilinan-led Meralco - whose Nov. 26, 2015 request for exemption from the CSP rule was originally denied on Dec. 10, 2015 - especially had one last chance to negotiate seven power supply agreements with its sister generating companies for a total ...

Pepsi PH to reformulate drinks
Inquirer - 2017-12-21
As Congress raised taxes on sugar-sweetened beverages, beverage maker Pepsi-Cola Products Philippines Inc. has decided to reformulate its soft drinks mix to avoid heftier tax starting January next year. This move was revealed after officials of Pepsi met ...

Seaoil forges strategic partnership with Caltex Australia - 2017-12-21
As part of the formation of the strategic partnership, Caltex Australia will supply fuel to Seaaoil via Ampol, its fuel sourcing and shipping business in Singapore. Seaoil has 6% total market share in the Philippines and is a pioneer in alternative fuels ...

Megawide-GMR tandem eager to start Clark Airport project
Philstar - 2017-12-21
MANILA, Philippines -- The consortium of Megawide Construction Corp. and GMR Infrastructure Ltd. of India said construction for the new terminal building of Clark International Airport would be in full swing by January, following the groundbreaking held ...

Dorsey Anti-Corruption Digest - January 2018
JD Supra - 2017-12-21
JD Supra provides users with access to its legal industry publishing services (the "Service") through its website (the "Website") as well as through other sources. Our policies with regard to data collection and use of personal information of users of the ...

Car Rams Into Pedestrians In Australia, Several Casualties; No Terrorism Link Yet
International Business Times - 2017-12-21
lying on the ground in the aftermath of the incident and others milling around them and attending to their injuries. International Business Times was not able to independently confirm the authenticity of the video. Victoria Police also asked public for ...

PLDT readies record P50 B capex for 2018
Philstar - 2017-12-21
MANILA, Philippines -- PLDT Inc. is set to spend more than P50 billion for capital expenditures next year, its highest allotment ever, as it prepares for the entry of a third telco player. PLDT chairman, president and chief executive officer Manuel V.

DOLE Family Welfare Committee gathers for year-end assembly
Philippine Information Agency - 2017-12-21
Jollibee mascot and magician Reuben Lardizabal ... the society as part of their social responsibility. GAMA Foods Inc., Nestle Philippines Inc., Ororama Supercenter, Concentrix Services Corp., Red Lemon Digital Media, Liceo de Cagayan University, Capitol ...

San Miguel expects P927-b sales
The Standard - 2017-12-20
Petron Corp., the oil unit, continued to deliver outstanding results, posting a profit of P11.8 billion, up 58 percent from last year, led by the continued focus on high-value segments and strong sales volumes in the Philippines and Malaysia. Consolidated ...

Megawide-GMR Consortium submits lowest financial bid for Clark International Airport expansion project
Philippine Information Agency - 2017-12-20
Tarlac. (Build Build Build) The Philippine Information Agency is the official public information arm of the Government of the Republic of the Philippines. It is an attached unit of the Presidential Communications Operations Office (PCOO). The PIA works ...

Megawide-GMR Consortium submits lowest financial bid for Clark International Airport expansion project
Philippine Information Agency - 2017-12-20
The financial proposal of Megawide-GMR Consortium amounted to P9.36 billion besting the proposals of China State Construction Engineering Corporation Limited, China Harbour Engineering Company Limited, Sinohydro Corporation Limited, and the consortium of ...

Late charge gives Princess Superal share of lead
Philstar - 2017-12-20
carded a 71 for a 144, and Thai Sarinee Thitiratanakorn bounced back with a 70 to tie Marv Monsalve, who limped with a 76, at 146 in the event backed by Custom Clubmakers, BDO, Meralco, Sharp, KZG, PLDT, Champion, Summit Mineral Water and K&G Golf.

NPA nod not needed to declare ceasefire
Philstar - 2017-12-20
There are now at least 344 weekly flights operated by Asiana Airlines, Philippine Airlines and PAL Express, Cathay Dragon, Cebu Pacific and CebGo, Qatar Airways, Emirates, Jinair, JetStar, Scoot (formerly Tiger Airways), Philippines AirAsia, and Air Swift.

Ombudsman orders filing of graft case vs 4 ERC commissioners, former chair
CNN Philippines - 2017-12-20
Ana -- to be suspended for a year without pay. They are accused of giving undue favor to electrical power distributor Manila Electric Co. (Meralco) and its sister company by exempting them from a required Competitive Selection Process (CSP) in 2016.

Dennis Uy snaps up H2O Ventures
BusinessWorld Online - 2017-12-20
DAVAO-BASED businessman Dennis A. Uy continues his acquisition spree with the purchase of shares in Philippine H2O Ventures Corp. (H2O) worth P327.75 million, in a potential backdoor listing move by his property firm. In a disclosure to the stock ...

Petron to start refinery expansion by next year
BusinessWorld Online - 2017-12-20
PETRON Corp. is expanding the capacity of its petroleum refinery in Limay, Bataan, which would bring its output to 270,000 barrels daily by 2019, its president said. Ramon S. Ang, who is also Petron chief executive officer, said the San Miguel Corp ...

Megawide-GMR to begin intensive construction in Jan. for Clark terminal
BusinessWorld Online - 2017-12-20
THE CONSORTIUM of Megawide Construction Corp. and Bangalore-based GMR Infrastructure Ltd. said that construction of the Clark International Airport (CIA) new terminal will be "in full swing" next month with completion expected after 28 months.

PHL journey to digital transactions needs faster vehicles
Business Mirror - 2017-12-20
ONE of these fintechs is Mynt, a subsidiary of Globe Telecom Inc. Albert Tinio, president of GCash, the micropayment service company of Mynt, believes that ordinary Filipinos can now avail themselves of affordable financial products and services like ...

Manila Water to obtain P2.4-B loan from BPI
BusinessWorld Online - 2017-12-20
MANILA WATER Co., Inc. said its subsidiary serving Boracay island had signed a P2.4-billion loan agreement with the Bank of the Philippine Islands (BPI) in part to cover its five-year budget. The unit -- Boracay Island Water Co., Inc. -- signed the ...

AC Energy inks Citicore deal
BusinessWorld Online - 2017-12-20
AC ENERGY Holdings, Inc. has forged a power supply agreement with retail electricity supplier Citicore Energy Solutions, Inc. (CESI), the energy development unit of Ayala Corp. said. In a statement, AC Energy quoted CESI President Manolo T. Candelaria as ...

Metro Pacific secures P10-B loan facility
BusinessWorld Online - 2017-12-20
In a disclosure to the stock exchange on Monday, the infrastructure conglomerate said it has entered into separate agreements with BDO Unibank, Inc. and Union Bank of the Philippines. MPIC will be taking 10-year fixed rate term loan worth P5 billion from ...

Ombudsman suspends ERC commissioners for a year
Rappler - 2017-12-20
MANILA, Philippines - The Office of the Ombudsman has suspended 4 commissioners of the Energy Regulatory Commission (ERC) due to what it alleges to be anomalous transactions involving the Manila Electric Company (Meralco). In a decision released on ...

Cebu airport operator bags construction deal for new Clark terminal
Rappler - 2017-12-20
MANILA, Philippines - The group of publicly-traded Megawide Construction ... announced they have awarded the engineering, procurement, and construction (EPC) deal for the Clark airport to the Megawide group after it offered the "lowest calculated ...

Meralco sells majority stake in insurance firm
The Standard - 2017-12-20
Pioneer Insurance & Surety Corp. invested in a 51 percent stake in Republic Surety and Insurance Co. Inc. that will bring the holdings of Manila Electric Co. to a minority. Republic was a wholly-owned non-insurance subsidiary of Meralco prior to the entry ...

Stocks end flat; PLDT, Semirara bounce back
The Standard - 2017-12-20
The stock market closed virtually flat Wednesday, as investors took a breather following recent gains. The Philippine Stock Exchange Index lost 3.35 points, or 0.04 percent, to 8,362.61 on a value turnover of P5.3 billion. Losers beat gainers, 110 to 84 ...

MPIC gets P10-b loans from BDO, Union Bank
The Standard - 2017-12-20
The company is spending P653 billion on pipeline ... P21 billion for Manila Electric Co., P17 billion for Light Rail Manila Corp. and P6 billion each for Maynilad Water Services Inc. and the logistics and hospital units. To partially finance its 2018 ...

Nickel Asia, unit not giving up mining on Manicani
Business Mirror - 2017-12-20
EXECUTIVES of Nickel Asia Corp. (NAC) and subsidiary Hinatuan Mining Corp. (HMC) said they are not giving up mining on Manicani Island. This, as antimining protesters opposing the application by NAC and HMC to reopen its suspended operations on the island ...

Petron to spend $3.5 billion for refinery expansion
Business Mirror - 2017-12-20
Petron President and CEO Ramon S. Ang said the expansion of the facility starts next year and could be finished by 2019. "We will be adding another 90,000 bpd from 180,000 bpd. We will be hitting 270,000 bpd," said Ang, referring to the $1.5-billion ...

Philippines' PLDT readies 'historic' spending as China Telecom looms
Nikkei Asian Review - 2017-12-20
MANILA -- Philippine telecommunications leader PLDT is preparing a "historic" capital expenditure of nearly 50 billion pesos ($992.4 million) next year to upgrade its fixed-line and wireless infrastructure, CEO Manuel Pangilinan said on Wednesday, as China ...

Superal ties Thai
Business Mirror - 2017-12-20
Princess Superal birdied the last three holes in impressive fashion as she saved a two-over 69 and tied a charging Yupaporn Kawinpakorn of Thailand in the second round of the International Container Terminal Services Inc. (ICTSI) South Forbes Ladies ...

Marawi evacuees enjoy nourishing meals with Alagang Kapatid Foundation - 2017-12-20
Photo by Alagang Kapatid Foundation. The feeding project was mainly supported by the P1 million donation of Metro Pacific Investments Corporation (MPIC) to Alagang Kapatid Foundation. It is among the many projects the donation covers. The week-long feeding ...

Hong Kong OFWs in uproar over non-existent airline tickets
Philstar - 2017-12-20
According to the latest data from the Philippine Overseas Employment Administration, there were 85,704 Filipino workers deployed in Hong Kong in 2015. Of that number, 57,703 were rehires, or had previously worked in Hong Kong.

8 Top Newsmakers of 2017
Philstar - 2017-12-20
Yes, the magnate of ultra-diversified conglomerate San Miguel Corporation, Ramon S. Ang, has finally--and officially--dipped his toes into the Philippine car industry. "RSA," as he is widely referred to, is now spinning the propellers of German ...

Oil firms raise fuel prices
Philippine Daily Inquirer - 2017-12-20
As of press time on Monday, Pilipinas Shell Petroleum, Phoenix Petroleum, PTT, Flying V and Eastern Petroleum have announced the price changes.

Duterte wants telco duopoly broken by March
Philippine Daily Inquirer - 2017-12-20
Among domestic companies, internet provider Philippine Telegraph & Telephone Corp. has expressed interest in applying for a mobile telecommunications license. Last month it told Reuters news agency it was talking to China Telecom and Datang Telecom ...

Duterte wants telco duopoly broken by March
Philippine Daily Inquirer - 2017-12-19
Mr. Duterte earlier asked China to provide the third telco player in the Philippines to break up the PLDT Inc. and Globe Telecom Inc. duopoly, which had been blamed for the slow and spotty but expensive internet and mobile phone services across the ...