PLDT-allied firms buy 10 pct stake in Meralco
International Business Times - 2017-12-12
MANILA - Manila Electric Co (Meralco) said companies allied with the country's dominant telecommunications firm PLDT had acquired a more than 10 percent stake in Philippines' biggest power retailer. The move will give Philippine Long Distance Telephone Co ...

House concludes probe on Meralco power deals
Business Mirror - 2017-12-12
Members of the House Joint Committee on Good Government and Public Accountability and on Energy on Monday have decided to conclude their investigation on the alleged "midnight deals" between Manila Electric Co. (Meralco) and the Energy Regulatory ...

Global Cebu FC wants to host PFL finals in Cebu City Sports Complex
Rappler - 2017-12-12
MANILA, Philippines (UPDATED) - Global Cebu FC is appealing to the inaugural Philippines Football League (PFL) for their right to host the finals knockout match with Ceres in the Cebu City Sports Complex on Saturday, December 16. Global released a letter ...

China Telecom named 3rd main telco player
Philstar - 2017-12-12
Presidential spokesman Harry Roque has said the entry of a Chinese investor would break the "duopoly" in the telecommunication industry, whose players are PLDT Inc. and Globe Telecom. Andanar said China Telecom has to find a local partner since the ...

Try this effective trade play
Inquirer - 2017-12-11
Inc. (ALI), Ayala Corporation (AC), Alliance Global Group, Inc. (AGI), SM Investments Corporation (SM), Metropolitan Bank and Trust Company (MBT), BDO Unibank, Inc. (BDO), Bank of the Philippine Islands (BPI), Manila Electric Company (MER) and Nickel Asia ...

Investing in quality education
Philstar - 2017-12-11
"In the next 80 years or so, the number of working age Filipinos will be large relative to the number of young and elderly Filipinos," according to Far Eastern University (FEU) president Michael Alba. This is the demographic sweet spot where the ...

The best of Philippine business recognized at Asia CEO Awards 2017
Business Mirror - 2017-12-11
Every person in business knows that getting their venture off the ground is only the first step ... Arab Emirates and Canada. Her company, Human Nature, continues to set the standard for social enterprise in the Philippines and was recognized in the ...

LRWC, China group plan Boracay casino resort
Philstar - 2017-12-11
MANILA, Philippines -- Galaxy Entertainment Group Ltd. is betting big on the Philippines through a partnership with Leisure and Resorts World Corp. (LRWC), the listed gaming company founded by Negros Occidental Rep. Alfredo "Albee" Benitez.

Philab eyes majority stake in drug manufacturer
BusinessWorld Online - 2017-12-11
Philab Holdings Corp. plans to ... to widen the range of products the company offers. In a statement issued Monday, the listed firm said it will purchase 67% of SLI, subject to closing requirements of the Philippine Stock Exchange and Securities and ...

BDO Nomura sees PSEi rising to 9,100 in 2018
- 2017-12-11
By Arra B. Francia, Reporter THE MAIN INDEX could soar to the 9,100 level by the end of 2018, as earnings growth of listed companies push share prices up amid inflationary pressures in some sectors. A market forecast by BDO Nomura Securities, Inc. noted a bullish outlook on the Philippine economy next year. This year, …

LRWC in talks for Boracay casino, resort
BusinessWorld Online - 2017-12-11
Leisure and Resorts World Corp. is in negotiations with a Macau-based firm for a resort and casino in Boracay. -- WWW.RWMANILA.COM LEISURE and Resorts World Corp. (LRWC) disclosed on Monday negotiations with a gaming firm based in Macau on a possible ...

Galaxy Entertainment's Philippine casino called 'game changer'
Nikkei Asian Review - 2017-12-11
Bloomberry Resorts, which runs the Solaire casino in Manila, said the number of Chinese gamblers surged after Duterte visited China in October last year.

Petron vs F2 Logistics
BusinessWorld Online - 2017-12-11
THE Philippine Superliga (PSL) Grand Prix hits the championship round beginning today with the best-of-three finals series between Petron Blaze Spikers and F2 Logistics Cargo Movers kicking off. After topping the elimination round with identical 7-1 ...

Oil firms cutting gasoline, kerosene prices; diesel steady
BusinessWorld Online - 2017-12-11
"These reflect movements in the international oil market," Petron Corp. said. Gasoline prices will fall P0.15 per liter, while kerosene prices will be reduced by P0.15 per liter, oil companies said. Companies that sent advisories said they will be ...

Cebu Pacific to launch flights to Melbourne
BusinessWorld Online - 2017-12-11
File photo of Cebu Pacific Air's Airbus A330 aircraft taken on September 12, 2013 at the NAIA terminal 3. -- BW FILE PHOTO CEBU PACIFIC (Cebu Air, Inc.) will launch direct flights from Manila to Melbourne by June next year, an official said. Cebu Pacific ...

Filinvest to transform 201-hectare Clark estate into new business hub
BusinessWorld Online - 2017-12-11
THE FILINVEST GROUP said it is breaking ground next year on a 201-hectare estate in Clark, Pampanga it bought in 2016, transforming the sprawling property into what it said would be a "premier leisure and business destination in the North." The ...

Fitch upgrade cheer provides market lift
BusinessWorld Online - 2017-12-11
RCBC Securities, Inc. equity analyst Jeffrey Lucero said in a separate text that losses incurred by PLDT, Inc. and Globe Telecom, Inc. capped general market gains "following news of a possible third telco player in China Telecom (Corporation Ltd ...

Roque: Duterte's offer of telco role to China a 'political decision'
CNN Philippines - 2017-12-11
The market in the Philippines has been dominated by two players - Globe Telecom Inc. and PLDT Inc. The President has been vocal against the state of the internet in the Philippines, saying the only way to improve internet speed is to introduce competition.

RCBC to Bangladesh Bank: Release results of bank heist probe
CNN Philippines - 2017-12-11
Rizal Commercial Banking Corp. (RCBC) said the Bangladesh Bank is "partly to blame" for the heist in 2016. "Its refusal to be transparent is a continuing cover-up and a disservice to global efforts to combat cybercrime. For this, (Bangladesh Bank ...

Transco ready to partner with China Telecom, but franchise may not allow it
Business Mirror - 2017-12-11
... it was talking with China Telecom and Datang Telecom about strategic partnerships to challenge the PLDT group and Globe Telecom Inc. President Duterte last month asked China to try to invest in the Philippine telecom industry. "We want to push ...

PFL holds inaugural finals series in Pana-ad Stadium
Rappler - 2017-12-11
MANILA, Philippines - The Philippines Football League (PFL) announced on Monday, December 11, that the finals knockout match between Global Cebu FC and Ceres-Negros FC will be held at the Pana-ad Stadium in Bacolod on Saturday, December 16. Prior to the ...

Oil firms cut pump prices
Business Mirror - 2017-12-11
The price reduction will be reflected at 6 a.m. of December 12. Diesel price remain unchanged. Phoenix Petroleum, Pilipinas Shell and Seaoil said the price adjustment reflects movements in the international petroleum market. Other oil firms are expected to ...

QC government extends P3.5-million aid to ex-Agham Road settlers
Business Mirror - 2017-12-11
Based on the joint-venture agreement entered into by the the NHA and Ayala Land Corp., in charge of developing the North Triangle Area, the former is responsible for the resettlement of the 700 families. In January 2014 the property that was cleared of ...

CPG sells initial P1.7 billion from high-end property development in Batangas
Business Mirror - 2017-12-11
PROPERTY developer Century Properties Group Inc. (CPG) said it generated an initial P1.7 billion in sales from its high-end Batulao residential project in Batangas, just two months of preselling in the country. Robbie Antonio, CPG managing director ...

Albay SP unanimous in protecting Mayon
Business Mirror - 2017-12-11
Imperial said documents furnished his committee by DPWH regional legal officer Oliver Rodulfo, however, did not mention any "road opening" projects at Mayon. He said the name of projects in the documents his committee received listed the four projects ...

No more cutting of trees please
Business Mirror - 2017-12-11
They also enhance property values. Given a choice ... Trees are natural attractions for tourists, homebuyers and businesses. This is the 21st century. There has to be a better way to build than simply paving over green space, a way to develop new ...

Superliga finals on
Business Mirror - 2017-12-11
In Photo: Petron Coach Shaq de los Santos says they are "very hungry" to regain the crown. PETRON and F2 Logistics begin their best-of-three showdown today for the Chooks to Go-Philippine Superliga (PSL) Grand Prix crown with experts predicting the ...

LRWC, Galaxy in talks for Boracay casino-resort
The Standard - 2017-12-11
Listed gaming company Leisure & Resorts World Corp. is in talks with Macau-based gaming and hospitality conglomerate Galaxy Entertainment Group Ltd. to develop a world-class beach resort and casino in Boracay Island at a cost of $300 million to $500 million.

GMA Network tallies bigger TV ratings lead in November
The Standard - 2017-12-11
GMA Network, Inc. (GMA) strengthened its nationwide ratings lead based on the latest data from Nielsen Phils.TV Audience Measurement. For the month of November (with Nov. 19 to 30 based on overnight data), the Kapuso Network ruled over its counterparts in ...

Bangladesh minister: We want to 'wipe out' Philippines bank after $80 million heist
ZDNet - 2017-12-11
Unless the situation is resolved, the Bangladesh bank may file the case against Rizal Commercial Banking Corp (RCBC) to retrieve the rest of the stolen proceeds. RCBC was fined roughly $20 million in 2016 for failing to prevent the flow of fraudulent cash ...

LWRC, Galaxy eye Boracay casino-resort
Inquirer - 2017-12-11
Local gaming firm Leisure and Resorts World Corp. (LWRC) is in talks with Hong Kong-listed Galaxy Entertainment Group Ltd. (GEG), one of the three original gaming concessionaires in Macau, to build a world-class integrated beach resort and casino in ...

Del Monte secures $100M via shares offering
Inquirer - 2017-12-11
Campos-led food and beverage conglomerate Del Monte Pacific Ltd. (DMPL) has raised $100 million from its second tranche of preferred shares offering. Proceeds from this transaction are meant to pare down debt incurred following the acquisition of the US ...

DICT, NTC preparing rules for selecting telco to compete with PLDT, Globe
Inquirer - 2017-12-11
The government is preparing guidelines to support the entry of a third player to compete with PLDT Inc. and Globe Telecom, the so-called telco duopoly that the Duterte administration has committed to break. Eliseo Rio Jr., acting secretary of the ...

Fueled by telco dreams, PT&T chief aims for jackpot in gaming sector
Inquirer - 2017-12-11
Businessman Salvador Zamora II wants to enter the lucrative gaming sector, focusing on an opportunity coming up in 2018 through the auction of the Visayas and Mindanao lotto equipment leasing concession of the state-run Philippine Charity Sweepstakes ...

TransCo open to creating 3rd telco player with China Telecom
Rappler - 2017-12-11
MANILA, Philippines - State-run National Transmission Corporation (TransCo) put its name forward as a possible partner for China Telecom Corporation Ltd in a bid to establish a long-sought after 3rd player in the Philippines' telecommunications industry.

FDI jumped 61.8% to $754 million in September
Inquirer - 2017-12-11
A 61.8-percent jump in net inflows of job-generating foreign direct investment (FDI) in September to $754 million narrowed the year-on-year decline in the nine-month tally, the latest Bangko Sentral ng Pilipinas (BSP) data released Monday showed.

War in paradise in the time of Duterte
Rappler - 2017-12-11
Hiding behind the veneer of ecological sustainability, luxurious ecotourism sites such as the 5,900-hectare Hamilo Coast project of SM Prime Holdings are "greenwashing" over the displacement of thousands of small fisherfolk and farmers who originally ...

Philippines stocks higher at close of trade; PSEi Composite up 0.65%
Investing.com - 2017-12-11
Rising stocks outnumbered declining ones on the Philippines Stock Exchange by 113 to 82 and 42 ended unchanged. Shares in BDO Unibank Inc (PS:BDO) rose to all time highs; up 3.38% or 5.00 to 153.00. Gold Futures for February delivery was up 0.26% or 3.30 ...

Bangladesh minister says wants to 'wipe out' Manila bank for heist role
Daily News and Analysis - 2017-12-11
Abul Maal A. Muhith was responding to questions from reporters about a Reuters story on Friday that said Bangladesh Bank had asked the New York Fed to join a lawsuit it was considering filing against Manila-based Rizal Commercial Banking Corp (RCBC ...

3 PNB execs to be tried for behest loans
Philippine Daily Inquirer - 2017-12-10
State prosecutors have filed graft charges in the Sandiganbayan against three surviving board members of Philippine National Bank (PNB) for granting roughly P200 million in behest loans to "cronies" of the Marcos dictatorship 37 years ago. Behest loans ...

Stock Exchange expels 90 stockbrokers from capital market
The Nation - 2017-12-10
The group of 67 expelled stockbrokers included ATIF Securities Limited, Abacus Securities Limited ... including Allbond Investment Limited, Consolidated Investment Limited, Dakal Services Limited, Emi Capital Resources Limited, First Equity Securities ...

Cargill opens $12-M feed plant in Bulacan
Philstar - 2017-12-10
Chuck Warta, president of Cargill Premix and Nutrition, said Southeast Asia is a fertile ground for business because of its growing population and income. "With the population and income growth driving demand for animal protein in the region ...

Yields on government securities steady ahead of Fed
BusinessWorld Online - 2017-12-10
Carlyn Therese X. Dulay, vice-president and head of institutional sales at Security Bank Corp., said the Dec. 4 settlement of the retail Treasury bonds (RTB) affected GS yields last week. "The large float temporarily caused some upward pressure on tight ...

Chill and relax
Business Mirror - 2017-12-10
As in most companies, the plan, year after year, is focused on revenue maximization and cost reduction. In the case of the Philippine Airlines (PAL), more routes will be launched as Clark, Cebu and Davao airports will be developed as international hubs.

Petron vs F2 Logistics in Grand Prix finals
Business Mirror - 2017-12-10
IT will be a Petron-F2 Logistics finale anew in the Philippine Superliga (PSL) as the top squads renew their rivalry in the best-of-three title series for the Chooks to Go Grand Prix crown starting tomorrow at the FilOil Flying V Centre in San Juan City.

Meralco, Hitachi ink deal for Bess
Business Mirror - 2017-12-10
THE Manila Electric Co. (Meralco) has partnered with Japanese multinational engineering and electronics firm Hitachi Ltd. for a battery-storage project. Meralco officials said they recently signed a memorandum of agreement (MOA) with Hitachi for the ...

Muntinlupa set for centennial celebration
Business Mirror - 2017-12-10
The parade will also enter the Filinvest City via the Corporate Avenue and Bridgeway. It will end at Filinvest Event Grounds/Block 30 for a short program. The floats will be transferred to the Quezon City Memorial Circle.

Poll: Monetary policy stable as year ends
BusinessWorld Online - 2017-12-10
This brought the nine-month pace to 6.7%, against a 6.5-7.5% growth goal. For Ruben Carlo O. Asuncion, chief economist at the Union Bank of the Philippines, hitting the targets for inflation and economic expansion warrants maintenance of the policy status quo.

Should environmental refugees be granted asylum status?
Business Mirror - 2017-12-10
and swallowing homes. While relocation will always be an option-of-last-resort, even conservative projections for sea-level rise over the course of this century pose a grave threat to atoll communities and other low-lying populations around the world.

Ayala Land mulls options for health care business
BusinessWorld Online - 2017-12-10
Uy. ALI, together with SSI Group, Inc. and two other foreign partners, announced its sale of FamilyMart to Mr. Uy last October, who in turn said it would complement his oil and fuel business through Phoenix Petroleum Philippines, Inc. "In the case of ...