Six fuel sellers jump the gun on collecting new tax
BusinessWorld - 1 month ago
THE Department of Energy (DoE) has ordered six gasoline stations of Petron Corp. to explain why they prematurely collected excise and value-added taxes on gasoline and diesel products sold at the turn of the year. The "show cause" order follows the DoE ...

AboitizPower unit sets P1.5-B capex for 2019
BusinessWorld - 1 month ago
DAVAO CITY -- Aboitiz Power Corp. subsidiary, Davao Light and Power Company, Inc. (DLPC) is allocating a capital expenditure (CAPEX) of about P1.5 billion this year, which will be used for an underground cable system in Davao City and its rural ...

PSEi soars on positive sentiment ahead of data
BusinessWorld - 1 month ago
The bellwether Philippine Stock Exchange index (PSEi) soared 2.55% or 191.40 points ... better economic number that will be announced next week," Eagle Equities, Inc. Research Head Christopher John Mangun said in an e-mail. The Philippine Statistics ...

Terrence Romeo practices with San Miguel for the first time
CNN Philippines - 1 month ago
San Miguel Corporation Sports Director Alfrancis Chua welcomed the addition of Romeo to the squad. The four-time PBA All Star will join an already loaded San Miguel roster including June Mar ...

PBA: Alapag joins San Miguel as assistant coach after steering Alab to ABL championship
CNN Philippines - 1 month ago
San Miguel Corporation Sports Director Alfrancis Chua confirmed to CNN Philippines that Alapag will serve as an assistant to head coach Leo Austria. Alapag had a successful coaching debut in the ...

EDC gets gold rank
The Visayan Daily Star - 1 month ago
Geothermal leader, Energy Development Corporation, was awarded the gold rank in the Asia Sustainability Reporting Rating 2018 in Bandar Lampung, Sumatra, Indonesia recently, its press release said. Conglomerate First Philippine Holdings was awarded the ...

A Tree of Hope grows at the Marco Polo Plaza
philstar.com - 1 month ago
"We called it the Tree of Hope," related Lara, "because it gives hope to many people. Those cards carry the names of donors and their wishes (for good health, etc.). You donate P200 and you attach your card to a ball and hang it on the tree.

AgriNurture changes stock rights terms
philstar.com - 1 month ago
MANILA, Philippines -- AgriNurture Inc. (ANI) has amended the terms of its stock rights offering. In a disclosure yesterday, ANI said its board approved "the change in the entitlement ratio from 1:2.5 to 1:5 with every shareholder owning five shares ...

Factory business growth slows in Dec.
BusinessWorld - 1 month ago
Ruben Carlo O. Asuncion, chief economist at the Union Bank of the Philippines, Inc., said in an e-mail that elevated inflation continues to weigh on demand and, in turn, cap growth of factory activity. "The pinch may have come from consumer demand itself.

DoubleDragon aims to generate over P10-B revenues this year
BusinessWorld - 1 month ago
DOUBLEDRAGON Properties Corp. looks to generate a total of P10.52 billion in rental income and sales from its malls, office, warehouse, and hotel projects in 2019, as the property developer continues to benefit from its aggressive expansion program in the ...

IP E-Games divests from Netopia operator
BusinessWorld - 1 month ago
IP E-Game Ventures, Inc. has divested from the operator of Netopia internet cafés due to the lower demand for its business, as consumers shift to mobile devices and places offering free Wi-Fi. In a disclosure to the stock exchange on Wednesday, IP E-Games ...

Now Corp. will undergo equity restructuring
BusinessWorld - 1 month ago
NOW CORP. on Wednesday said it will undergo equity restructuring to erase its accumulated deficit. In a disclosure to the stock exchange, the listed telecommunications company said its board of directors approved its equity restructuring plan during a ...

AgriNurture to sell P500M worth of shares to China-based businessmen
BusinessWorld - 1 month ago
AGRINURTURE, Inc. (ANI) on Wednesday said it plans to sell over 27 million primary shares worth P500.60 million to two businessmen engaged in construction and real estate in China. In a disclosure to the stock exchange, the listed agri-trading company said ...

MPT South aims to grow traffic in Cavitex by 6% in 2019
BusinessMirror - 1 month ago
The whole program has a price tag of roughly P1 billion. MPT South is a unit of Metro Pacific Investments Corp., the largest tollways-holding company in the Philippines. Aside from its local ...

Mindanao power supply adequate for expected investments -- Alsons
BusinessWorld - 1 month ago
DEMAND for power in Mindanao has grown significantly in the past five to six years, with the current power reserves considered adequate to support new investment in the main southern island, an official with Alsons Consolidated Resources, Inc. said.

CAVITEx sees traffic growing 5%-6% in 2019
BusinessWorld - 1 month ago
MPIC is one of three Philippine units of Hong Kong-based First Pacific Co. Ltd., others being PLDT, Inc. and Philex Mining Corp. Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has an interest in ...

Petitioner asks SC to stop awarding of 3rd telco slot to Mislatel
Philippine Daily Inquirer - 1 month ago
His petition in effect echoed the petition filed by disqualified bidder Philippine Telegraph & Telephone Corp. (PT&T) last November, 2018. PT&T questioned the validity of the National Telecommunications Commission (NTC) decision to close the bidding ...

IN PHOTOS: Why you need to add Central Japan to your travel bucket list
Rappler - 1 month ago
Onsen water has healing and soothing properties, good for skin complaints and muscle pains ... It was originally built in the 15th century, and currently preserves the structure of its main keep with wood and stones. The castle stands on a small hill ...

SE Asia Stocks-Most end lower; weak economic data stokes slowdown fears
Reuters - 1 month ago
Shares of property developer SM Prime Holdings Inc along with Ayala Land were among top boosts to the index, up 3.4 percent and 1.7 percent, respectively. Thailand's index edged up, with financials and energy stocks underpinning gains. For Asian Companies ...

Banner year 2018 for Petron in Super Liga
Journal - 1 month ago
"I just told them to bring back the old fire that made Petron successful in the past," said Delos Santos after capping a very successful campaign of San Miguel Corp. sports teams this year following the victory of San Miguel Beer, Ginebra and Magnolia ...

Le Tour rescheduled to June for SEAG preps, rehabilitation of calamity-hit Bicol Region
BusinessMirror - 1 month ago
El Joshua Carino of Philippine Navy-Standard Insurance is expected to defend his crown and will be racing alongside 2014 winner Mark John Lexer Galedo of continental team 7-Eleven Cliqq Roadbike ...

Re-export of 6.5K tons of South Korea waste eyed next week
Global Nation - 1 month ago
Meanwhile, the Korean garbage shipment at the Verde Soko compound inside the Phividec Industrial Estate in Barangay ... consigned to Verde Soko Philippines Industrial Corp. arrived at the MICT ...

Despite Heavy Fines
philstar.com - 1 month ago
MANILA, Philippines -- Philippine banks continued to fall short of the mandated loan thresholds for agriculture and agrarian reform, according to a report from the Bangko Sentral ng Pilipinas. The BSP reported the banking system was able to set aside a ...

Ayala conglomerate takes over Kia in PH
philstar.com - 1 month ago
Kia Philippines now operates under AC Industrial Technology Holdings, Inc. (AC Industrials), which also steers Integrated Micro-Electronics, Inc. (IMI) and AC Automotive -- led by chairman Arthur Tan and president Manny Aligada. The marque will take its ...

Philippines-India aviation: PAL to Delhi, inbound tourism grows
Centreforaviation.com - 1 month ago
Philippine Airlines (PAL) is planning to resume services to Delhi in early 2019 using its new fleet of A321neos. The new service should help the Philippines attract more Indian visitors and lead to faster growth in what is now the largest unserved market ...

Aboitiz Equity earmarks $200M for Gold Coin
Inquirer - 1 month ago
Conglomerate Aboitiz Equity Ventures Inc. expects to invest as much as $200 million in the next two to three years to expand and upgrade the factories of Asia-Pacific animal feeds manufacturer ...

Making family businesses work
Inquirer - 1 month ago
Finally, the last principle deals with having a robust succession plan. Hwee made an example of Ayala Corp., which he said "really grooms its next generation, while bringing in new professional ...

Clark SEAG sports venues on track-BCDA
BusinessMirror - 1 month ago
The first phase of the National Government Administrative Center involves the development of backup offices of various agencies intended to make sure business operations and services run in case ...

Investor caution greets new year
BusinessWorld - 1 month ago
Inc. Elevated inflation dampens consumer spending, which has otherwise been a key strength of the overall economy. The benchmark Philippine Stock Exchange index (PSEi) fell 12.76% year-on-year to 7,466.02, leading to an 8.17% annual drop in total market ...

Poll bares outlook of slower Dec. inflation
BusinessWorld - 1 month ago
Michael L. Ricafort, economist from the Rizal Commercial Banking Corp. (RCBC), pointed out that global oil prices have lately been hitting their lowest point in over a year despite production cuts announced by oil-producing nations. Alvin P. Ang ...

PSE: Stock market has nowhere to go but up
BusinessMirror - 1 month ago
THE benchmark Philippine Stock Exchange index is expected to perform ... head of research at Eagle Equities Inc. "After hitting a new high in January, a pullback was expected.

Century Properties Group bullish in 2019
BusinessMirror - 1 month ago
Antonio in an interview on December 12 at the sidelines of the inauguration Asian Century Center, a P1.6-billion green office building at the 27th Street corner Third Avenue in Bonifacio Global ...

Robinsons Bank looking to tap peso fixed-rate bonds to raise fresh funds
BusinessWorld - 1 month ago
Meanwhile, BDO Unibank, Inc. and Security Bank Corp. also announced their intention to raise more capital by establishing local currency bond programs worth P100 billion and P50 billion, respectively. In October, Robinsons Bank said it is set to raise P3.5 ...

Stocks may climb ahead of inflation, GDP data
BusinessWorld - 1 month ago
The bellwether Philippine Stock Exchange index (PSEi) closed the previous year on a ... we may see a huge move soon based on the technical," Eagle Equities, Inc. Research Head Christopher John Mangun said in a weekly market note.

Are the wheels coming off China's Belt and Road megaproject?
CNN Philippines - 1 month ago
Keep the innovation, friendliness and international outlook as bright ... A recent survey conducting by Peking University and the Beijing-based Taihe Insitute found that nearly half of 100 ...

Airlines seen staying profitable due to oil price drop
Inquirer - 1 month ago
to help airlines offset fuel costs. Philippine Airlines and Cebu Pacific announced they would tap the mechanism to cushion losses. Iata said favorable economic growth and lower oil costs would ...

Stock market poised for rebound in 2019 -- FMIC
philstar.com - 1 month ago
MANILA, Philippines -- The stock market may stage a rebound this year, driven in part by election-related spending and the continued heavy outlay on infrastructure and capital goods, according to The Market Call, a joint report by First Metro Investment ...

DOF sees inflation slowing in 2019
philstar.com - 1 month ago
The agency also cited the Bank of the Philippine Islands, which has stated that it expects inflation to decline further to 3.6 percent next year, even if the second tranche of the oil excise tax increase under the Tax Reform for Acceleration and Inclusion ...

LT Group eyes water business expansion, restart for biodiesel in 2019
BusinessMirror - 1 month ago
He also divulged that one of the companies under the group, Macroasia, will be going into "full blast" next year. "Macroasia is going full blast with our thrust to address the future of ...

New Clark City close to ready for 2019 SEA Games
Philippine Information Agency - 1 month ago
For power distribution in New Clark City, BCDA targets to sign the JVA with the winning partner by early 2019. The Meralco-Marubeni Consortium submitted the lower tariff bid of Php0.6188 per kilowatt hour, besting the P0.9888/kwh proposal of the Aboitiz ...

2018: How the Senate rose above undemocratic challenges
Philippine Daily Inquirer - 1 month ago
Senator Grace Poe, chair of the Senate committee on public services ... also seized an abandoned freight container at the Manila International Container Terminal (MICT) that yielded two magnetic ...

DENR urges public to refrain from lighting firecrackers for cleaner air
Philippine Daily Inquirer - 1 month ago
MANILA, Philippines -- To reduce air pollution generated by firecrackers, which is largely used to welcome the new year, Environment Secretary Roy Cimatu urged the public not to light ...

Ex-housing exec extends P50-million credit line to Philab
BusinessMirror - 1 month ago
Navasero said the company will continue to pursue new acquisitions, as well as new products and technology ... Life Data Systems and the joint venture with BF Corp. for the National Institute ...

Victor Consunji, top Semirara mining executive, dies at 68
BusinessMirror - 1 month ago
He was, likewise, the president and COO of SEM-Calaca Power Corp. and Southwest Luzon Power Generation Corp. He was also a director of DMCI Holdings Inc. He is a graduate of AB in Political Science from Ateneo de Davao and is one of the seven children of ...

Inflation seen below 6% in December
Inquirer - 1 month ago
Ateneo de Manila University economics professor Alvin P. Ang projected a 5.8-percent increase in basic commodities this month as "food prices have remained stable though some uptick was observed ...

YEARENDER: Build Build Build takes off in 2018
philstar.com - 1 month ago
Meanwhile, the DBM said the P9.5- billion Light Rail Transit (LRT) Line 2 East (Masinag) Extension Project ... the quarterly (program), but the full-year (target) is the same," he said. He said the government would need to catch up with the construction ...

Merger of Aboitiz thrift banks gets BSP nod
Inquirer - 1 month ago
Aboitiz-led Union Bank of the Philippines has obtained final approval from the Bangko Sentral ng Pilipinas (BSP) to merge its thrift banks with City Savings as the surviving entity. This will ...

MBC raises stake in hospitality business, acquires additional shares in EHRI
Inquirer - 1 month ago
Radio broadcasting group Manila Broadcasting Co. (MBC) has sealed a deal to hike its interest in affiliate firm Elizalde Hotels and Resorts Inc. (EHRI) to 80 percent as part of its plan to enter ...

Phoenix joins race to build LNG hub
Inquirer - 1 month ago
Plans of Phoenix Petroleum Philippines Inc. to build a liquefied natural gas (LNG) hub include a facility that could hold 2.2 million tons per year, plus a possible power plant complex with about ...

Pump prices slashed anew, but excise spoils revelry
Inquirer - 1 month ago
Seaoil Philippines, Unioil Petroleum and Phoenix Petroleum slashed pump prices of diesel for the twelfth week in a row, this time by P1.80 per liter. They also reduced prices of gasoline by P1.30 ...