MPIC to invest P20B for MRT rehab - 2017-10-02
MANILA - Metro Pacific Investments Corporation (MPIC) has increased by P8 billion the resources it plans to pour into its proposed takeover and rehabilitation of the Metro Rail Transit Line 3 (MRT-3). The P20 billion - from the initial amount of P12 ...

MPIC to invest P20B for MRT rehab
InterAksyon - 2017-10-02
MANILA - Metro Pacific Investments Corporation (MPIC) has increased by P8 billion the resources it plans to pour into its proposed takeover and rehabilitation of the Metro Rail Transit Line 3 (MRT-3). The P20 billion - from the initial amount of P12 ...

BIR issues garnishment order vs lechon owner
Philstar - 2017-10-02
Gil J. Puyat Avenue, Makati Avenue. Others include Philippine National Bank along D. Macapagal Boulevard, Pasay City; Philippine Savings Bank at 777 Paseo de Roxas corner Sedeno Street, Makati City; Rizal Commercial Banking Corporation at 6819 Ayala ...

UnionBank to issue $1B under MTN program
BusinessWorld Online - 2017-10-02
The Aboitiz-led lender reported a P2.15-billion net income during the second quarter, which was 6.85% lower than the P2.31 billion recorded a year ago and from the P2.21 billion seen during the first three months of the year. Earnings totalled P4.4 billion ...

ALI asks SC to reverse ruling on Las Piñas property
- 2017-10-02
AYALA LAND Inc. (ALI) has asked the Supreme Court (SC) to reconsider its decision nullifying the property giant’s ownership of around 46 hectares of land in Las Piñas City. In a disclosure to the stock exchange on Monday, ALI said it filed its motion for reconsideration with the SC on Sept. 28. The SC had …

Davao City landowners to cash in on property boom through JVs
BusinessWorld Online - 2017-10-02
DAVAO CITY -- Long-time landowners in this city, not wanting to let go of their properties but recognizing the potential gains amid the real estate boom ... Interactive Marketing Enterprise (PRIME Philippines). Raphil D. Saguan, PRIME Philippines capital ...

MVP firm to invest P20B in MRT3
Inquirer - 2017-10-02
The offer comes amid an ongoing row between the Department of Transportation and Busan Universal Rail Inc., MRT ... spans water distribution, power, toll roads and hospitals, has exposure in the railway sector through Light Rail Manila Corp., a consortium ...

LIVE! Islamic State claims Vegas shooting; officials say 'NO'
Rediff - 2017-10-02
Las Vegas Metro Police Sheriff Joseph Lombardo confirmed that the toll ... Natarajan, who has been admitted at the Gleneagles Global Health City in Chennai, has been undergoing treatment for liver failure for the last nine months. A bulletin issued by ...

DTI: Prices stable on Christmas holidays - 2017-10-02
Manufacturers RFM Corp., SYSU International Inc., Dole Food Company Inc., Del Monte Philippines Inc. Century Pacific, New Zealand Creamery, Ideal Macaroni & Spaghetti Factory and Phil. Leading Infinite Logistics agreed to keep prices stable during the ...

Megaworld to build P3-b FactSet Tower - 2017-10-02
Property developer Megaworld Corp. said Monday it won a P3-billion lease contract for the regional corporate headquarters of FactSet, a global provider of integrated financial information, analytical applications and industry-leading services. Megaworld ...

Clark City tour launched
BusinessMirror. - 2017-10-02
"The Clark City tour is a timely development to feature different sites and rich culture of Clark," Noemi Julian of The Tourism Promotions Division (TPD) of Clark Development Corp. (CDC ... Mimosa Filinvest Leisure Estate, Bicentennial Park, Clark ...

Tsuneishi buys power from Aboitiz - 2017-10-02
Tsuneishi Heavy Industries, Inc. has tapped Aboitiz Power Corp. to provide power for its operations under the retail competition and open access, or RCOA regime. Big power consumers like Tsuneishi, or those that require one megawatt or more, have the ...

Legislator to file bill amending real estate investment trust law
BusinessMirror. - 2017-10-02
The law is there," Yap said in a briefing organized by Leechiu Property Consultants Inc. (LPCI). "But the gray area ... the early part of the year with officials of the Philippine Stock Exchange trying to convince the administration of President ...

Ayala Land asks SC to reconsider Las Piñas property ruling
Inquirer - 2017-10-02
Property giant Ayala Land Inc. has asked the Supreme Court to reconsider its decision that nullified its possession of a prime property in Las Piñas that had been converted into a golf course and materials depot. It was reported on Monday that by virtue ...

Class Notes, 2000-2017 - 2017-10-02
She also serves as Leadership Greater Rochester program chair for the Rochester Area Chamber of Commerce and is on the board of directors for the Rochester Downtown Alliance ... consultant at Allstate Insurance Company in Northbrook, Ill.

STI sets 25% annual dividend policy
Inquirer - 2017-10-02
Tanco group-led private school network operator STI Education Systems Holdings Inc. has adopted a new policy to declare at least 25 percent of its core income from the previous fiscal year as dividends to stockholders each year. The new dividend policy ...

MPIC hikes offer to P20 B to take over MRT-3
Philstar - 2017-10-02
MANILA, Philippines -- Metro Pacific Investments Corp. (MPIC) has increased its proposed amount of investment to rehabilitate as well as take over the operations and maintenance of the Metro Rail Transit Line 3 (MRT-3), from an initial P12 billion to P20 ...

Hitachi hosts Social Innovation Forum 2017 Manila
Inquirer - 2017-10-02
This segment will be moderated by Mr. David Celdran, News Anchor, ABS-CBN Corporation. In the 2018 Mid-term Management Plan, Hitachi targets to increase its overseas sales ratio to more than 55%. The Philippines will play an instrumental role in helping ...

2017 is a landmark year for artist Fernando Zóbel
BusinessMirror. - 2017-10-02
Untitled (Saeta), undated (probably 1958), oil on canvas, 91×121 cm, Ayala Corp. Collection A catalogue raisonné is considered as a definitive and scholarly source on the complete body of work of highly notable artists. The publication of a catalogue ...

Early Christmas surprises - 2017-10-02
All prizes are tax-free. Barangay LS DJs act as early Christmas Santas in the radio station's nationwide raffle draw, Pera Sorpresa Participating sponsors this season are Petron, Tang, Capsinesis, Sunsilk, Alaska, Mega Sardines, and Wellmade Products.

Philippine terrorism spooks investors in vital outsourcing sector - 2017-10-02
Megaworld, a unit of Alliance Global Group, and the country's largest BPO office provider, confirmed a decline in demand but did not provide figures. Investors have been unnerved by developments in Mindanao, and some BPOs opted not to expand in 2017.

Jollibee-Globe deal allows free calls for delivery
Rappler - 2017-10-02
MANILA, Philippines - Globe Telecom and Jollibee Foods Corporation (JFC) teamed up to expand the fast food giant's IT and delivery services. The agreement, announced on Monday, October 2, means that Globe customers will now be able to call Jollibee's ...

Monarch Airlines collapses leaving 110,000 stranded abroad
Inquirer - 2017-10-02
Monarch Airlines ceased trading Monday, triggering a move by the British government to bring home 110,000 customers stranded abroad. The British airline and its holidays business entered administration, with KPMG appointed to oversee the financial chaos.

Construction of MRT-LRT common station finally begins
Rappler - 2017-10-02
The project went through a decade of legal spats between the government and the SM group with the Ayala Group, Metro Pacific Investment Corporation ... maintenance, and development will be split between the LRMC for LRT-1, and DOTr for MRT-3.

The Finance 202: Trump team is off-message when it comes to tax cuts for middle class
Washington Post - 2017-10-02
The Wall Street Journal's Michael Bender: "Other names said to be in contention include current Fed Chairwoman Janet Yellen, whose term expires in early February, Stanford University economist John Taylor and John Allison, the former BB&T Bank chief ...

Union Bank plans P70B fund-raising
Inquirer - 2017-10-02
Aboitiz-led Union Bank of the Philippines is preparing for expansion by hatching two funding instruments that could raise as much as P70 billion in the coming years. In a disclosure to the Philippine Stock Exchange on Monday, Union Bank said its board had ...

Metrobank touts new UITF as only one that offers both investment growth and regular income
InterAksyon - 2017-10-02
The Metrobank Plaza on Gil Puyat Avenue, Makati City. FILE PHOTO FROM GT CAPITAL HOLDINGS INC. MANILA - Leading lender Metrobank has introduced its newest Unit Investment Trust Fund (UITF), saying it signals its commitment to helping Filipinos enhance ...

Metrobank touts new UITF as only one that offers both investment growth and regular income - 2017-10-02
Metrobank has been acknowledged by international financial publications The Asian Banker and Global Capital Asia as the strongest financial institution in its category in the Philippines and in Asia in 2016.

BRIEF-Union Bank of the Philippines' board approves issuance of note program for up to $1.0 bln
Reuters - 2017-10-02
* Board approved issuance of long-term negotiable certificates of deposit in aggregate amount of up to 20.0 billion pesos Source text for Eikon: Further company coverage: Our Standards:The Thomson Reuters Trust Principles.

Solon seeks abolition of GOCC commission
BusinessMirror. - 2017-10-02
If the GCG is to be consistent with the stance of Duterte against mining, she said these four GOCCs should be abolished: Batong Buhay Gold Mines Inc.; Natural Resources Development Corp.; North Davao Mining Corp.; and Philippine Mining Development Corp ...

Ayala Land loses prime Las Piñas lot in SC ruling
Philippine Daily Inquirer - 2017-10-01
Good faith must concur with registration because, otherwise, registration would be an exercise in futility," it ruled. Ayala Corp. acquired the property from Goldenrod Inc. and Pesala in 1988. Four years later, ALI became its new owners after its merger ...

Highlands Ladies Cup to benefit Sisters of Mary
Philstar - 2017-10-01
Asia Brewery, Parola Maritime Agency Corp., H&E Manufacturing. Corp., Concrete Masters, SL Agritech Corp., Peerless Products Manufacturing Corp., Universal Robina and Kawsek & Co. are some of the Bronze sponsors. Listup is ongoing with fee pegged at P3 ...

Inflation likely peaked to 5-month high in September
Inquirer - 2017-10-01
Banco De Oro Unibank Inc. chief market strategist Jonathan L. Ravelas, Bank of the Philippine Islands vice president and chief economist Emilio S. Neri Jr., Nomura economist Euben Paracuelles as well as IHS Markit Asia-Pacific chief economist Rajiv Biswas ...

USJ-R, USPF belles start strong in volleyball semis
Philstar - 2017-10-01
The USJ-R girls outlasted University of Cebu in straight sets, 25-15, 26-14, while USPF trounced Southwestern University-Phinma, 25-22, 25-13. In the boys division, USPF also blasted UC, 25-15, 25-17, while the SWU spikers escaped USC in a three-setter ...

Bong Tan joins PT&T
Philstar - 2017-10-01
MANILA, Philippines -- Lucio Tan Jr., the son and namesake of taipan Lucio Tan, said his group is out to change the telecommunications landscape in the Philippines through its newly acquired Philippine Telegraph & Telephone Corp. (PT&T), stressing that ...

Inflation rising but policy steady -- poll
BusinessWorld Online - 2017-10-01
The Philippine Statistics ... at the De La Salle University, added that the BSP may consider a 25-basis-point ratehike if monthly inflation will keep rising and if the peso weakens further in the months ahead. The central bank expects full-year inflation ...

Banking on being a good neighbor
BusinessWorld Online - 2017-10-01
Media sponsors are BusinessWorld and ABS-CBN News Channel. Banquet Sponsors are Bench; Bounty Fresh Food, Inc.; CDO Foodsphere; Fiori Di Marghi; Global Ferronickel Holdings, Inc.; Hyundai Asia Resources, Inc.; Intermed Marketing Phils., Inc.; Jollibee ...

Govt-owned Transco to compete vs telcos
BusinessMirror. - 2017-10-01
STATE firm National Trans-mission Corp. (Transco) wants to diversify into the telecommunications business, saying it has the assets to compete with telecommunication giants PLDT Inc. and Globe Telecom Inc. "We want to be a provider of telecom [telecommun ...

SMDC plans to ramp up provincial expansion
BusinessWorld Online - 2017-10-01
This strategy has benefited the company as provincial malls boosted earnings of SM Prime Holdings, Inc. by 15% in the first half of 2017 to P7.79 billion, on the back of a 10% increase in revenues to P43.25 billion. For SMDC alone, revenues climbed 5% in ...

Offshore gaming operators push demand for Manila office space
BusinessWorld Online - 2017-10-01
Alliance Global Group, Inc. -- the group behind Resorts World Manila -- is working on the blueprint of the last casino-resort to open in Entertainment City. With strong growth seen so far, Mr. Yap expects the POGO market to sustain its momentum.

Yields on gov’t debt drop
- 2017-10-01
LOCAL GOVERNMENT securities (GS) rallied last week despite continued expectations of another interest rate hike in the US as well as its tax reform plans. Local debt yields dropped 6.65 basis points (bps) on average week-on-week, data from the Philippine Dealing & Exchange Corp. (PDEx) as of Sept. 29 showed. At the secondary market, yields …

MRT-3 rehab to require up to P20B
BusinessWorld Online - 2017-10-01
BW FILE PHOTO AROUND P20 billion will be needed to rehabilitate the Metro Rail Transit (MRT-3), according to Metro Pacific Investments Corp. (MPIC) which has earlier committed to increasing its investment in the elevated railway to boost capacity.

Kaya-Makati finally breaks from clutches of FC Meralco
BusinessWorld Online - 2017-10-01
Kaya FC-Makati finally defeated FC Meralco Manila in the Philippines Football League last ... In its Saturday fixture at its home turf of University of Makati Football Stadium, Kaya averted a 1-1 draw with late go-ahead goal from substitute Eric Giganto ...

TransCo plans to enter telecoms; will ask Congress to change charter
BusinessWorld Online - 2017-10-01
"NTC [National Telecommunications Commission] is only regulatory and DICT (Department of Information and Communications Technology) now is a policy ... the interconnection between the Visayas and Mindanao power grids for around P51.7 billion.

SSS targets charter plenary debates this month
BusinessWorld Online - 2017-10-01
Dooc told reporters on Friday that he targets to have the bill containing amendments to Republic Act 8282 or the Social Security Law enacted "before the end of the year." The bill amending the SSS charter is currently in a technical working group at ...

Panasonic promotes education for nation building, grants 2017 scholarship to university students
BusinessMirror. - 2017-10-01
Aside from Canapi, the awarding of the scholarship grants on September 27 was led by Panasonic Manufacturing Philippines Corp. (PMPC) President Shinichi Hayashi, Panasonic Precision Devices Philippines Corp. (PPRDPH) President Koji Ipposhi, Canapi ...

PLDT, bus operators link up to provide 2,300 buses with digital support, service
BusinessMirror. - 2017-10-01
TELECOMMUNICATIONS giant PLDT Inc. has inked a partnership agreement with the Provincial Bus Operators Association of the Philippines (PBOAP) to equip roughly 2,300 public-transport buses with digital solutions. Juan Victor I. Hernandez, who heads the ...

How This Singaporean Startup Generated $12.9M In Only 8 Months
Forbes - 2017-10-01
His company, AdAsia Holdings, has expanded into 9 countries and generated ... Strategizing ways to localize products, services and manpower should be one of the first things to do when planning business expansion. This includes understanding and finding ...

Retail billionaire gets a taste for e-commerce as Alibaba nears
BusinessMirror. - 2017-10-01
Other parts of the conglomerate, including department stores, will eventually follow. Robinsons joins SM Investments Corp. and Ayala Corp. in exploring e-commerce for a country where life revolves around the old-fashioned mall. All three launched online ...

Megaworld to build P3-B regional headquarters for New York-listed firm
Rappler - 2017-10-01
MANILA, Philippines - Andrew Tan-led property developer Megaworld Corporation announced it will build an office tower to serve as the regional corporate headquarters for US-based listed firm FactSet. In a disclosure to the Philippine Stock Exchange (PSE ...