Megawide sells treasury shares
Inquirer - 2016-10-28
Construction and engineering firm Megawide Construction Corp. is raising P2.2 billion from the sale of treasury shares, placing out some of the shares previously bought back from the family of tycoon Henry Sy Sr. Megawide has signed an agreement to offer ...

SSS eyes toll road investments
Philstar - 2016-10-28
Among the present tollways, San Miguel Corp. manages the South Luzon Expressway, while the Pangilinan-led Metro Pacific Investments Corp. operates its northern counterpart and Subic-Clark-Tarlac Expressway. San Miguel also operates the Southern Tagalog ...

Banks issue advisories for long weekend sked
Philstar - 2016-10-28
In an online advisory, Bank of the Philippine Islands said its branches and kiosks will be closed from October 31, Monday, to November 1, Tuesday. Metrobank, on the other hand, said all its branches will be closed on November 1. It said checks deposited on ...

Developers help emerging cities make their mark
Inquirer - 2016-10-28
Another notable player in the Visayas and Mindanao region is ArthaLand that will spend P8 billion for the development of an office project in Cebu. The project, to be named Cebu Exchange, is a 38-storey office building that will be built on an 8,440-square ...

Megawide raises P2.23 billion from treasury-share sale
BusinessMirror. - 2016-10-28
MEGAWIDE Construction Corp. on Friday said it raised P2.23 billion from the sale of the treasury shares once owned by the SM Group. The company said it signed a placing agreement with two investment banks as part of the sale of its 150 million common ...

The winds of war are blowing
BusinessMirror. - 2016-10-28
War can be great for a nation. Facing a common enemy, citizens, for the most part, bond together, putting aside regional and political differences. The government can more easily stifle any opposition in the name of patriotism. An edgy confidence strikes ...

Cemex income reached P1.88 billion in 9 months
BusinessMirror. - 2016-10-28
CEMENT manufacturer Cemex Holdings Philippines Inc. said it achieved a pro forma attributable net income of P1.88 billion in the first nine months of the year ... For accounting purposes, the consolidation of the company and its subsidiaries took effect ...

Aboitiz Group finalizing consortium to bid for Chevron assets
Philstar - 2016-10-28
MANILA, Philippines - The Aboitiz Group is finalizing a consortium that will bid for the geothermal assets of American energy giant Chevron Corp. both in the Philippines and in Indonesia once auctioned within the year. The group is very interested in those ...

A festive welcome for TBEX Asia Pacific 2016 delegates - 2016-10-28
TBEX 2016 was made possible with the support of Philippine Airlines, Globe Telecom, Tourism Infrastructure and Enterprise Zone Authority (TIEZA), and Duty Free Philippines. Other sponsors included Amorita Resort, The Lind Boracay, Fort Ilocandia Resort ...

No contracts, just MOUs with Chinese firms--Palace
Philippine Daily Inquirer - 2016-10-28
Malacañang on Friday said the government did not enter into contracts with a Chinese company banned by the World Bank and a dredging firm that Beijing reportedly used for reclamation activities in the disputed Spratly Islands. Presidential Spokesperson ...

Meralco assures 24/7 service; disseminates Undas electricity tips - 2016-10-28
MANILA - The Manila Electric Company (Meralco) on Friday advised its customers to continually practice electrical safety for the upcoming Undas (All Saint's Day) observance, particularly those expected to leave their homes and head out to cemeteries to pay ...

Century Pacific bags Kamayan North America license
Inquirer - 2016-10-28
Leading canned food producer Century Pacific Food Inc. (CNPF) has acquired the license to bring leading shrimp paste Kamayan to the US and Canada, a move seen to boost its international food portfolio. Through wholly owned subsidiary Century Pacific ...

PSE slips ahead of long weekend
Inquirer - 2016-10-28
The Philippine Stock Exchange index lost 40.34 points or 0.54 ... managing director at local fund management firm First Grade Finance. "The long weekend triggered some funds to shift to other investment instruments and markets for the mean time.

Megawide sets P2.2B share sale
Inquirer - 2016-10-28
CONSTRUCTION and engineering firm Megawide Construction Corp. is raising P2.2 billion from the sale of treasury shares, placing out some of the shares previously bought back from the family of tycoon Henry Sy Sr. Megawide has signed an agreement to offer ...

Retrofit hospital opens in Pudong
ECNS - 2016-10-28
Nashville-based Chinaco Healthcare Corp. brought their first China facilities online in 2013. Columbia Pacific Management began to shift ... Wu retired last year from the public health system after more than 30 years. He most recently served as chief ...

AI adoption to push 2020 global revenues past $47B
EE Times Asia - 2016-10-28
The industries that will invest the most in cognitive/AI systems in 2016 are banking and retail ... according to International Data Corporation (IDC) analysts. In a recently published spending guide, the market research firm said the market for cognitive ...

Metrobank income drops to P12.6 B in 9 months
Philstar - 2016-10-28
MANILA, Philippines - Metropolitan Bank and Trust Co. (Metrobank) reported an unaudited consolidated net income of P12.6 billion in the first nine months, down 12.56 percent from the P14.41 billion recorded in the same period in 2015. Net interest income ...

Narita-Cebu flights okayed - 2016-10-28
Vanilla Air will be competing with Philippine Airlines between Cebu and Narita beginning Dec. 25, 2016. PAL operates two round-trip flights daily while Cebu Pacific flies four round-trip flights a week. The Tokyo (Narita)-Cebu route will have a market ...

Biz buzz: Davao banker to be named new Landbank chief
Inquirer - 2016-10-27
In addition to that, the Monetary Board also makes sure that banks play by the rules and are sanctioned if they do not (just like in the case of Rizal Commercial Banking Corp., which was fined P1 billion not too long ago for being linked to a money ...

PLDT launches SmartBus solution
Philstar - 2016-10-27
MANILA, Philippines - PLDT Inc. yesterday rolled out transport solutions which aim to allow buses to enhance their operations and provide passengers a better travel experience. The offering called SmartBus project is intended to enable bus operators to ...

Biz buzz: Davao banker to be named new Landbank chief
Inquirer - 2016-10-27
agro-industrial enterprises, farmers, cooperatives, rice millers and other key economic players. He previously headed the Rural Bankers Association of the Philippines (RBAP) and the Rural Bankers Research and Development Foundation Inc. Beyond banking ...

Market extends losses; SBC rises - 2016-10-27
BDO Unibank Inc., the largest lender, rose 0.8 percent to P112.80, while conglomerate Aboitiz Equity Ventures Inc. added 0.4 percent to close at P76.70. Meanwhile, most Asian markets also turned lower Thursday, with energy firms struggling after another ...

PH, Poland strengthens economic ties, holds business forum - 2016-10-27
MAKATI CITY, Oct. 28 - The Philippines and Poland are further strengthening their bilateral economic relations through mutual promotion of trade and investments, as the two countries conducted the Philippines-Poland Business Forum in Manila recently.

Market extends losses; SBC rises - 2016-10-27
Four of the 20 most active stocks ended in the green, led by Security Bank Corp. which climbed 3.7 percent to P222 and oil refiner Petron Corp. which advanced 2.9 percent to P10.50. BDO Unibank Inc., the largest lender, rose 0.8 percent to P112.80 ...

GMR wins international arbitration against Maldives, gets $270 million payout
Economic Times - 2016-10-27
It recently bagged rights to develop and operate Goa's new greenfield international airport in Mopa. It is also developing the Mactan Cebu International Airport in the Philippines in partnership with Megawide Construction Corporation.

Four Partners Elected to Board of Directors of BDO USA, LLP
Business Wire - 2016-10-27
joint venture arrangements, alternative debt arrangements and private equity financings during his career. He also has served on various firm committees dedicated to developing and implementing improved audit efficiencies and best practices at BDO.

Feel good to be good
BusinessMirror. - 2016-10-27
One feel- good story closer to home is about my former student and colleague at University of the East (UE), who is now a Philippine Airlines junior executive. He spent most of his younger years behind the wheels of a jeepney (or next to it as his father ...

New business districts continue to open in Metro due to strong BPO demand
BusinessMirror. - 2016-10-27
Vista Land said this location has been masterplanned as a hub for BPOs and other growing firms. She said BPOs and other players in the outsourcing industry continue to grow at 18 percent to 19 percent year-on-year. "Once they have 5,000 seats in the ...

Breakthrough Win
BusinessMirror. - 2016-10-27
She looked headed for another so-so campaign after opening with a 77 in the P1-million championship sponsored by ICTSI but turned things round around with a solid 69 in the second, moving from nowhere to third, two strokes off Palakawongnaayuttaya.

Petron Corp. raised P20-billion oversubscribed fixed-rate bonds
BusinessMirror. - 2016-10-27
PETRON Corp. successfully raised P20 billion in fixed-rate bonds in a deal that was oversubscribed. The amount represents the base offer of P15 billion and the oversubscription of P5 billion, the oil firm said. The issuance is the first tranche of Petron ...

Campi golf a smash hit like the NX300h
BusinessMirror. - 2016-10-27
And this spice the side: Isuzu is No. 1 in fuel efficiency among 10 diesel-fed vehicles with its D-Max LS 4×2 as per test runs conducted jointly by the Department of Energy and Petron, according to Carmudi. Cheers, Art B! WHEN you ride the Lexus NX300h ...

Akapela Open 2016: Voices for tomorrow
The Daily Tribune - 2016-10-27
Excitement brews as the Akapela Finals Night draws near. On November 5, 7:30 p.m., at the Meralco Theater, a new Akapela Open champion will emerge. Witness the 10 finalists battle it out on stage: Astrafellas, Calafellas, Conchords, Doo-Wop Sounds ...

Shift to EMV technology now in full swing
BusinessMirror. - 2016-10-27
All banks in the country are expected to comply by January 2017. In a previous report, the Bank of the Philippine Islands said it, likewise, wrapped up the migration of 1.3 million credit cards while the upgrading of its debit cards are under way.

Concepcion Industrial earns 43% higher
Philstar - 2016-10-27
MANILA, Philippines - Concepcion Industrial Corp. reported a 43 percent growth in profit after tax in the nine months ending September this year. CIC attributed the increase in income to the 20 percent topline growth during the same period. For the third ...

DTI urges entrepreneurs to invest in franchise - 2016-10-27
The expo featured businesses that could be franchised such as Minute Burger, 7-Eleven, Seaoil, Phoenix and Mount Alba. BPI also had a booth during the expo as they offer credit windows for those who are interested to go into franchise. (Loraine Brillantes ...

PayMaya links with PayPal in new deal - 2016-10-27
PayMaya, a fintech provider under Voyager Innovations of the PLDT group, said the deal will greatly benefit freelancers and online businesses that rely on PayPal as a means to receive their payments from overseas transactions. "Freelancers and online ...

American Express celebrates its 100th year in PH
Rappler - 2016-10-27
Cardmembers, affluent seasoned travelers, and their families now have access to better travel experiences as well as a number of new rewards and benefits, such as a complimentary business class companion ticket when they fly with Philippine Airlines ...

Value for workers in productivity confab - 2016-10-27
(DOLE) Main activity at the Convention will be a research forum where experts and resource speakers from the Philippine Institute of Developmental Studies (PIDS), Unilever, and Integrated Micro-Electronics present studies and researches on the importance ...

Maintenance Schedules - 2016-10-27
Cruz, Don Carlos Revilla, Edang, San Roque, Tripa De Gallina and St. Augustine Sts ... San Isidro, San Jose and San Lorenzo Sts. in Ayala - Alabang Village, Bgy. New Alabang Village. REASON: Line reconductoring work along Santiago Drive St. in Ayala ...

SN Aboitiz reaches settlement on tax case - 2016-10-26
Hydro-electric power producer SN Aboitiz Power Corp. and host province Benguet reached a compromise agreement on a real property tax dispute that reached P157.7 million. SN Aboitiz, the joint venture of SN Power of Norway, said the agreement represented ...

PSBank reports P1.9-billion third-quarter net income
BusinessMirror. - 2016-10-26
Philippine Savings Bank (PSBank), the thrift bank arm of the Metrobank Group, continued to make strides in the nine months ending September, as it reported P1.9 billion in net income, 7.7 percent higher than net earnings recorded in the same period last year.

PSBank reports P1.9-billion third-quarter net income
Business Mirror - 2016-10-26
Philippine Savings Bank (PSBank), the thrift bank arm of the Metrobank Group, continued to make strides in the nine months ending September, as it reported P1.9 billion in net income, 7.7 percent higher than net earnings recorded in the same period last year.

Pryce profit surges 57% in Jan-Sept
Philstar - 2016-10-26
MANILA, Philippines - Pryce Corp. posted a 57 percent jump in net profit in the nine months to September as liquefied petroleum gas (LPG) sales volume continued its surge in the third quarter of the year. The company disclosed yesterday its net earnings ...

AEV profit hits P17.1B at end-SEPT.
Inquirer - 2016-10-26
Conglomerate Aboitiz Equity Ventures Inc. (AEV) grew its nine-month net profit by 44 percent year-on-year to P17.1 billion, buoyed by its power and banking businesses. For the third quarter alone, net profit rose by 61 percent year-on-year to P6.6 billion ...

Main stock price barometer weakens below 7,500 level as crude prices plummet
Inquirer - 2016-10-26
Among the most battered PSEi stocks were Security Bank and Alliance Global Group Inc., which both fell by more than 3 percent, while BDO Unibank, GT Capital, DMCI, First Gen Corp., Globe Telecom and ICTSI all declined by over 1 percent. Ayala Land Inc., SM ...

No eviction of tribal folk
Philippine Daily Inquirer - 2016-10-26
The Mangyans from Mindoro specifically mentioned a mine operated by Intex, while the Kankanaey, Bago and Ibaloi tribes of Northern Luzon said they were against mines operated by Lepanto, OceanaGold and Golden Summit. Manobos from Caraga and representatives ...

AEV posts 44% jump in 9-month earnings
Philstar - 2016-10-26
Banking arm Union Bank of the Philippines (UnionBank) and its subsidiaries contributed P4 billion to groupwide earnings, representing a 178 percent surge.

Meralco mulls new retail affiliate under RCOA rules
Philstar - 2016-10-26
MANILA, Philippines - Manila Electric Co. (Meralco) is exploring all options, including putting up an affiliate retail electricity supplier (RES), after the Supreme Court (SC) junked its case with a local regional trial court (RTC) to stop the ...

Gary V topbills 8990 concert - 2016-10-26
Listed mass housing developer, 8990 Holdings, Inc. hosted a concert for its homeowners and prospective buyers on Oct. 7 at Mall of Asia Arena. The show called Future Perfect highlighted that owning a house is possible these days through ownership of a DECA ...

Just memos, contract, with Chinese firm, says BCDA
Philippine Daily Inquirer - 2016-10-26
In a statement, Dizon [no relation to the Inquirer reporter] said that while BCDA admired the "diligence of the Philippine Daily Inquirer in finding the World Bank document regarding CCCC [China Communication Construction Company] and its subsidiaries ...