Metrobank sues top exec, 2 others for fraud
Philstar - 2017-08-02
MANILA, Philippines - Metropolitan Bank & Trust Co. (Metrobank) has filed a criminal case against a ranking official and two other individuals after the bank fell victim to internal fraud involving P900 million. In a 17-page complaint affidavit ...

MWSS chief cites success of PPP in water concession
BusinessMirror. - 2017-08-01
Ten years ago the DMCI-MPIC Water Co., a joint venture between Metro Pacific Investments Corp. (MPIC) and DMCI Holdings Inc. (DMCI), took over Maynilad and launched a five-year investment program to rehabilitate the company and its operations. Since its ...

Oriente-Express joint venture to address financial inclusion through fintech
Inquirer - 2017-08-01
Greater China-based Oriente and Express Holdings, Inc. (a subsidiary of JG Summit Holdings, Inc.), through an exclusive partnership, will address the financial exclusion problem of underbanked consumers and MSMEs in the Philippines. This joint venture is ...

Oil firms raisepump prices today
Philstar - 2017-08-01
Eastern Petroleum Corp., Phoenix Petroleum Philippines Inc. and PTT Philippines Corp. announced the same price increases on gasoline and diesel products effective 6 a.m. today. In a separate advisory, Flying V said it would have the same price adjustments ...

Singapore delegation in Philippines to explore business opportunities
The Straits Times - 2017-08-01
A delegation of local business representatives is in the Philippines to scout out opportunities in a market that is generating growing interest among Singapore companies. The 22 delegates on the four-day mission, which ends on Friday, are exploring ...

Stock market slumps; Bloomberry advances
thestandard.com.ph - 2017-08-01
Losers outnumbered gainers, 114 to 86, while 48 issues were unchanged. Five of the 20 most active stocks ended in the green, led by hotel operator Waterfront Philippines Inc. which jumped 15 percent to P1.38 and casino operator Bloomberry Resorts Corp ...

8990 registers 44% profit drop to P1.2b
thestandard.com.ph - 2017-08-01
Mass housing developer 8990 Holdings Inc. said Tuesday net income in the first half fell 44 percent to P1.22 billion from P2.18 billion a year ago, following the delayed launching of new projects, shortage of construction finishings and momentum build-up ...

Lamudi holds first affordable-housing event
BusinessMirror. - 2017-08-01
research manager of Colliers International; "Buying Your First Home" seminar by Gabriel Dominguez, president of Green Circle Realty; "Rent-To-Own Properties Buying Guide And Renting Versus Buying" seminars by Rem Ramirez of Philippine Institute of ...

First full Ironman 70.3 slated in Subic in 2018
Philstar - 2017-08-01
Athletes will start with a 3.86 km swim at the Triboa Bay, bike for 180.2 km along the Subic-Clark Tarlac Expressway before embarking on a 42.2 km run. In context, it's like swimming from Manila Bay to Makati, then biking to Dagupan before running up to ...

8990 earnings drop 44% in H1
Philstar - 2017-08-01
MANILA, Philippines - 8990 Holdings Inc. reported a 44 percent decline in ... In 2016, 8990 was able to launch only six of the 14 planned projects. In the first half, however, the company had already launched five projects. The company expects to launch ...

WESM doing wonders for power sector
BusinessMirror. - 2017-08-01
For Aboitiz Power Corp., the WESM "is extremely valuable". "It offers a venue for all parties to trade shortages and excesses. It is a very good indicator of supply and demand. It is also a clear indicator of price that can be traded," company ...

San Miguel unit eyes 500-MW hydro plant in Tarlac
Rappler - 2017-08-01
Petron Corporation, SMC's subsidiary, has another oil refinery in Limay, Bataan, which it also plans to expand. Petron had earmarked a total of $500 million (P24.86 billion) to upgrade its refinery in Bataan. Other than the Bataan plant, SMC plans to spend ...

Developer bullish on 2017
The Daily Tribune - 2017-08-01
Mass housing developer 8990 Holdings remains bullish on the prospects of 2017 despite an expected slow start for the year after it reported a net income after tax of P1.2 billion, down 44 percent from a year ago but only five percent below its internal ...

Security Bank posts P5.2-billion net income
BusinessMirror. - 2017-08-01
Security Bank Corp. posted P5.2 billion in net income in the first half, up 8 percent from year-ago level. This result was driven by a 26-percent, or P1.9-billion, increase in net interest income to P9.3 billion. Noninterest income, including trading gains ...

Francis Kong and Meralco Biz Partners team up to power business
BusinessMirror. - 2017-08-01
Organizations that incubate ideas are now widely recognized for their role as pioneers and as trailblazers to progress. As the recent years have shown, businesses thrive with new knowledge and solutions introduced to the market. Meralco Biz Partners extols ...

Cirtek sees additional $25-M revenues
Philstar - 2017-08-01
MANILA, Philippines - Listed technology firm Cirtek Holdings Philippines Corp. (CHPC) expects additional revenues of $25 million following its acquisition of US-based Quintel, a leading provider of advanced high-efficiency and high-performance antenna ...

PetroEnergy secures permits for Palawan solar power project
Philstar - 2017-08-01
MANILA, Philippines - PetroEnergy Resources Corp. (PERC) has secured the necessary environmental clearances to pursue its proposed 10-megawatt (MW) solar project in Puerto Princesa. The company said the Department of Environment and Natural Resources ...

8990 CEO to retire by end 2017
BusinessWorld Online - 2017-08-01
8990 HOLDINGS, Inc. President and Chief Executive Officer Januario Jesus Gregorio B. Atencio III announced on Monday his plan to step down from his post by December. Januario Jesus Gregorio B. Atencio III -- PHILSTAR.COM/EFIGENIO TOLEDO IV Mr. Atencio ...

Bureau of Customs, ports authority consult on policy for abandoned cargo
BusinessWorld Online - 2017-08-01
However, container yards inside port terminals, whether operated by PPA or by private operators, should be regarded as components of the entire terminal, which then fall ... who provide warehousing or storage services." Section 307 calls for the Customs ...

PH business prospects remain bright
Philippine Information Agency - 2017-08-01
Other notable projects for the month include the Php6.5 billion cement Bulacan expansion project of Eagle Cement Corporation, the Php5.1 billion Aruga Hotel by Rockwell Land Corporation in Makati City ... and has an information center in 72 provinces ...

PH business prospects remain bright
news.pia.gov.ph - 2017-08-01
Among the biggest projects registered is the Php79.2 billion infrastructure project of San Miguel Corporation which involves the construction of a 23-kilometer railway line from San Jose Del Monte, Bulacan to MRT-3 North Avenue in Quezon City and the 22 ...

Pump prices up
Visayan Daily Star - 2017-08-01
Flying V will implement the following price hikes: gasoline by 35 centavos per liter, biodiesel by 50 centavos per liter, Kerosene by 40 centavos per liter. *PNA

Cirtek expects higher profit on Quintel acquisition
Rappler - 2017-08-01
MANILA, Philippines - Technology firm Cirtek Holdings Philippines ... fueled by the acquisition of US-based antenna service provider Quintel. Cirtek chief finance officer Anthony Buyawe said they will start consolidating Quintel's operations starting ...

Singapore companies head to fast-growing Philippines
The Straits Times - 2017-08-01
It said that the Philippines will grow at an average of 6.6 per cent for the next five years, ahead of Vietnam's 6.1 per cent, Indonesia's 5.1 per cent, and Singapore's 2.9 per cent. SBF Council member and chief executive of Keppel Corporation Mr Loh Chin ...

Kris Aquino excited about new role as star, key advisor of iflix original content
interaksyon.com - 2017-08-01
From left, iflix Asia marketing head Jason Monteiro, iflix Philippines head of content Georgette Tengco, Head of PLDT Home Marco Borlongan, iflix Philippines country manager Sherwin dela Cruz, iflix co-founder and chairman and Catcha Group CEO Patrick ...

BDO to issue P5-B LTNCDs to diversify funding sources, support expansion
interaksyon.com - 2017-08-01
MANILA - Looking to diversify the maturity of its funding sources and support business expansion plans, BDO Unibank, Inc. (BDO) is set to issue P5 billion of Long-Term Negotiable Certificates of Deposit (LTNCD). BDO has the option to increase the issue ...

Meet 5 long-time married couples who are testaments to enduring love
Philstar - 2017-08-01
Directed by Mihk Vergara, watch "Sayaw" below: "Sayaw" is one of the three Sun Shorts 2 films produced by Sun Life Financial Philippines to promote financial literacy among Filipinos in all stages of their lives. Watch the other Sun Shorts via ...

Pump prices up again for second week
Philippine Daily Inquirer - 2017-07-31
As of press time on Monday, companies that gave notice of price hikes included Flying V, Phoenix Petroleum Philippines Inc., Eastern Petroleum Corp., Pilipinas Shell Petroleum Corp., Seaoil Philippines Inc., and PTT Philippines Corp. Flying V, Shell ...

Metropolitan Bank and Trust Co (MBT)
investing.com - 2017-07-31
Philippines stocks lower at close of trade; PSEi Composite down 2.04% By Investing.com - Mar 10, 2017 Philippines stocks lower at close of trade; PSEi Composite down 0.53% By Investing.com - Feb 17, 2017 Philippines stocks higher at close of trade; PSEi ...

PetroEnergy unit gets permit for Palawan solar-power plant
BusinessMirror. - 2017-07-31
THE subsidiary of PetroEnergy Resources Corp. has secured environmental permits for its solar power project in Puerto Princesa. "The proposed 10-megawatt [MW] Puerto Princesa solar-power project of PetroGreen Energy Corp. [PGEC] secured two vital ...

PetroEnergy unit gets permit for Palawan solar-power plant
BusinessMirror. - 2017-07-31
THE subsidiary of PetroEnergy Resources Corp. has secured environmental permits for its solar power project in Puerto Princesa. "The proposed 10-megawatt [MW] Puerto Princesa solar-power project of PetroGreen Energy Corp. [PGEC] secured two vital ...

PetroEnergy unit gets permit for Palawan solar-power plant
BusinessMirror. - 2017-07-31
THE subsidiary of PetroEnergy Resources Corp. has secured environmental permits for its solar power project in Puerto Princesa. "The proposed 10-megawatt [MW] Puerto Princesa solar-power project of PetroGreen Energy Corp. [PGEC] secured two vital ...

QualiMed hospital rises at Nuvali
Philstar - 2017-07-31
It is owned and operated by Mercado General Hospital, Inc., in partnership with Ayala Land, Inc. (ALI). With Alagang Abot-Kaya as brand promise, its healthcare facilities are intended to cater to the needs of the general public and make its services more ...

5 ways to beat the 'bed' weather with coffee or tea
Philstar - 2017-07-31
Coffee lovers will now have more reasons to drink 7-Eleven City Blends coffee, as the convenience store chain launches "A Cup of Thankful," where a portion from every purchase of a 12 oz. City Blends cup will be given to Filipino coffee farmers in the ...

Market retreats; DMCI rises
thestandard.com.ph - 2017-07-31
DMCI Holdings Inc., the investment company of the Consunji family, gained 1.8 percent to P16.30, while budget carrier Cebu Air Inc. rose 1.4 percent to P100.80. Meanwhile, Tokyo stocks closed lower on Monday as the yen rose, with investors wary after below ...

Cirtek expects $125-m revenues
thestandard.com.ph - 2017-07-31
Technology company Cirtek Holdings Philippines Corp. on Monday upgraded its 2017 revenue forecast to $125 million from an initial estimate of $100 million, following the acquisition of US-based Quintel. Cirtek chief finance officer Anthony Buyawe said the ...

PetroGreen receives ECC for solar facility
thestandard.com.ph - 2017-07-31
PetroGreen Energy Corp. said it received two vital environmental clearances necessary to start the construction and development of a 10-megawatt solar power project in Puerto Princesa City, Palawan. PetroGreen, a subsidiary of PetroEnergy Resources Corp ...

BDO returns to debt market
Philstar - 2017-07-31
MANILA, Philippines - BDO Unibank Inc. is returning to the debt market to raise at least P5 billion from the issuance of long-term negotiable certificates of deposits (LTNCDs) to fund its expansion program and at the same time diversify its funding sources.

Why resort-themed residences are the coolest condos ever
Philstar - 2017-07-31
Kasara and The Rochester are developed by Empire East Land Holdings Inc. a premiere property developer in the Philippines founded in 1994. With decades of expertise in the industry, Empire East has now entered a new phase with the creation of urban resort ...

Banco de Oro posts P13.3-B net income in H1 2017
interaksyon.com - 2017-07-31
MANILA - Sy-led Banco de Oro Unibank Inc. (BDO) registered a P13.3-billion net income in the first half of 2017, higher than the P11.7 billion in the same period in 2016. In a disclosure with the Philippine Stock Exchange (PSE) Monday, the bank traced ...

Banco de Oro posts P13.3-B net income in H1 2017
InterAksyon - 2017-07-31
As the market breached the 8,300 ceiling Tuesday, retailers and banks advanced, with Puregold Price Club Inc. and BDO Unibank Inc. rising to all-time highs at the end of trading. INTERAKSYON FILE MANILA - Sy-led Banco de Oro Unibank Inc. (BDO ...

Cirtek targets $120-million revenues for this year
BusinessWorld - 2017-07-31
CIRTEK HOLDINGS Philippines Corp. expects to book $120 million to $125 million in revenues this year, driven by the additional capacity of its Laguna plant and contributions from newly acquired tech firm Quintel. Cirtek Chief Financial Officer Anthony S.

8990 head set to retire in December
Philstar - 2017-07-31
MANILA, Philippines - 8990 president and CEO Januario Jesus Atencio ... the plan to abolish Home Guaranty Corp. and the moratorium on land conversion. On the land conversion moratorium, Atencio said: "This one is most perplexing given that from 1998 ...

Hedging vs risks: Can govt afford more debt?
BusinessMirror. - 2017-07-31
ACCORDING to non-governmental group Freedom from Debt Coalition (FDC), annual spending ... Central Bank Board of Liquidators (CB-BOL), social security institutions, local government units less the intrasector debt holdings of government securities, accordi ...

Seda Vertis targets M.I.C.E., weddings to boost revenues
BusinessMirror. - 2017-07-31
Seda Vertis North is the sixth property of the Seda brand by Ayala Land Hotels and Resorts Corp. (AHRC), a fully owned subsidiary ... parts of Metro Manila and other key destinations in the Philippines. Aside from the Seda brand, AHRC properties include ...

Oil companies hike prices on erratic world market
BusinessMirror. - 2017-07-31
Petron Corp., Total Philippines Corp. and UniOil Petroleum Philippines Inc. have yet to announce their respective price hikes as of press time. Melita Obillo, director of the Department of Energy (DOE) Oil Industry Management Bureau, said the price ...

Ayala Land to open seventh Seda hotel brand in Bacolod
BusinessMirror. - 2017-07-31
AYALA Land Hotels and Resorts Inc. said it will open its seventh homegrown brand Seda hotels by October this year, as the western Visayas is experiencing a booming economy. Seda Capitol Central in Bacolod City will have 154 rooms catering largely to ...

Atencio to retire as 8990 president
thestandard.com.ph - 2017-07-31
Real estate executive Januario Jesus Atencio III is stepping down as president of mass housing developer 8990 Holdings Inc. by the end of 2017, after 13 years at the helm of the company. Atencio made the announcement during the annual stockholders ...

World Series Champs!
BusinessMirror. - 2017-07-31
The team is backed by Manila Mayor Joseph Estrada and the International Container Terminal Services Inc. and is also supported by Mike and Lilli Khan and Larry Sy of Sunspring. According to Manila Softball President Rafael "Che" Borromeo, the team was ...

Obiena sets new national record
BusinessMirror. - 2017-07-31
The 21-year-old Obiena shattered his own national record by 6 centimeters. He owned the former national standard while competing for University of Santo Tomas in the University Athletic Association of the Philippines. Obiena, however, missed the podium.