BSP fines RCBC P1 billion over cyber-heist case
BusinessMirror. - 2016-08-05
The Bangko Sentral ng Pilipinas (BSP) penalized on Friday Rizal Commercial Banking Corp. (RCBC) with P1 billion in fines for banking-rule violations in relation to its involvement in the $81-million Bangladesh Bank cyber heist in March. The penalty ...

BSP fines RCBC Php 1 B for Bangladesh Bank heist
Manila Bulletin - 2016-08-05
MANILA, Aug. 4 -- The Bangko Sentral ng Pilipinas (BSP) on Friday slapped Rizal Commercial Banking Corp. (RCBC) a Php 1 billion fine in connection with the USD 81 million stolen from Bangladesh Bank that passed through RCBC. In a statement, the BSP said ...

Liquigaz opens 1st retail store
BusinessMirror. - 2016-08-05
Liquigaz is a 90-percent owned of Cosco Capital Inc., the retail holding firm of Co. The LPG firm, which has about 30 percent of the market, was incorporated on July 26, 1995, to engage in the import, export, storage, transportation and any other activity ...

Alorica to operate new Makati facility in October
BusinessMirror. - 2016-08-05
Completing the metro sites are those in Makati, such as in Alphaland, Export Bank and the upcoming office in Pasong Tamo Extension. Further south, Alorica is present in Alabang, with its own buildings in North Gate and Madrigal business district ...

ERC awards RES licenses to 3 power firms
BusinessMirror. - 2016-08-05
FDC RES Corp., a wholly owned subsidiary of FDC Utilities Inc., is the holding company for all the utility projects of the Filinvest Group. Millennium RES is a wholly owned subsidiary of Millennium Energy Inc., the owner and operator of the 85-megawatt ...

Ayala, MPIC pick beep card partner
thestandard.com.ph - 2016-08-05
AF Payments Inc., a consortium led by Ayala Corp and Metro Pacific Investments Corp., said on Friday it teamed up with Froehlich Tours, one of the premium point-to-point (P2P) bus systems in the metro, to accept payment through beep card. "This is the ...

Commuters can reload beep cards in 1,400 retail outlets by September
BusinessMirror. - 2016-08-05
The transport department said in a media advisory it has partnered with convenience stores 7-Eleven, Mini Stop and Family Mart to expand the reloading stations of the tap-and-go cards used to pay for train fares. "By September, commuters will also have ...

Bangladesh team may recover only part of heist money
Manila Bulletin - 2016-08-05
"The money is with Solaire (Resort and Casino)," PAGCOR President Alfredo Lim told Reuters. "It will put us in a bad light if the money is not immediately released to them." Solaire, operated by Bloomberry Resorts Corp, has said about $29 million ...

Lopez suspends Surigao nickel-mining firm
BusinessMirror. - 2016-08-05
Early this month, Lopez had ordered to stop the hauling activities of Hinatuan Mining Corp., a subsidiary of Nickel Asia Corp. on Manicani Island, in Guiuan, Eastern Samar. The ongoing mining audit in Mindanao includes new criteria--environmental and ...

SAP poll finds PHL consumers second-most delighted in DX
BusinessMirror. - 2016-08-05
In Photo: This undated photo, shows SAP Philippines Country Manager Ryan Poggi and Bennett Aquino, head of strategy and corporate development, consumer business at Globe Telecom Inc. A survey by technology firm SAP SE found that Filipino consumers follow ...

Ayala disposes part of BPO unit
BusinessMirror. - 2016-08-05
AYALA Corp. on Friday said its wholly owned unit handling its business-process outsourcing LiveIt Investments has divested its majority stake in IQ BackOffice Holdings Ltd. (IQB) through a management buyout. Ayala owned 82.5 percent of IQB, a firm engaged ...

Bicol journalists to train on "Journalism and Numbers: Making Stories That Matter"
news.pia.gov.ph - 2016-08-05
LEGAZPI CITY, Aug 4 (PIA) - The Metrobank Foundation Inc (MBFI) and Probe Media Foundation Inc. (PMFI) in coordination with the Philippine Information Agency (PIA) Bicol will be conducting a training-workshop for practicing and full-time journalists in ...

Bangladesh says Duterte commits to return heist money funneled via Manila
interaksyon.com - 2016-08-05
"The money is with Solaire (Resort and Casino)," PAGCOR president Alfredo Lim told Reuters. "It will put us in a bad light if the money is not immediately released to them." Solaire, operated by Bloomberry Resorts Corp., has said about $29 million of the ...

Before Duterte, mining revenues already down for 5th straight month
Philstar - 2016-08-05
"You definitely can see further slowdown down the road," said Emmanuel Lopez, economics department chair at the University of Santo Tomas. "More or less, what you are seeing now in the industry--the declining shares of stocks and resignation of Bobby ...

Carnival Corporation issues 2015 Sustainability Report
E TN Global Travel Industry News - 2016-08-05
Carnival Corporation's Commitment to Sustainability Carnival Corporation ... for 15 new ships for delivery between 2016 and 2020 - four of which will be next-generation ships that will pioneer a new era in the use of cleaner fuels as the first cruise ...

MRT, LRT beep cards now accepted in P2P buses
Philippine Daily Inquirer - 2016-08-05
AF Payments, Inc., a consortium of Metro Pacific Investments Corp. (MPIC) and Ayala Corp., said commuters can use the beep card for Froehlich Tours, one of the P2P bus systems in Metro Manila. "This covers the routes Trinoma to Glorietta 5 and vice-versa ...

Ongpin No. 20 on Forbes richest Pinoy list
Philippine Daily Inquirer - 2016-08-05
Ongpin chaired Philweb Corp., a provider of gaming solutions in Asia-Pacific, with businesses in the Philippines, Timor-Leste, Cambodia and Guam. He also chairs a mining and oil exploration firm, Atok Big Wedge Co., and an upscale tropical island resort ...

Ongpin No. 20 on Forbes richest Pinoy list
Philippine Daily Inquirer - 2016-08-05
He also chairs a mining and oil exploration firm, Atok Big Wedge Co., and an upscale tropical island resort, Alphaland Balesin Island Club in Quezon province. Global 5000 Investment, a holding firm formed in 2008, was then led by Ongpin, businessman Iñigo ...

Benguet Corp asked to submit report on mine tailing dam impact to downstream communities
news.pia.gov.ph - 2016-08-05
LA TRINIDAD, Benguet, Aug. 5 (PIA) - - Itogon officials are asking the management of the Benguet Corporation to submit their assessment report on impact of mine tailings dam in downstream communities of three barangays in the municipality. A Multi-Partite ...

STUDENT CENTRAL (edERP) ADVISORY
feu.edu.ph - 2016-08-05
Submission of Enrollment Requests (shifting, returning student, academic clearance, advance course, cross-campus, lieu course, additional load, simultaneous, overload, and cross-enrollment) is extended until 05 August 2016.

Grand Plaza swings to loss in April-June
m.bworldonline.com - 2016-08-05
GRAND Plaza Hotel Corp. swung to a net loss in the second quarter, due to lower occupancy rates at The Heritage Hotel amid stiff competition among hotels in Manila. In a regulatory filing submitted on Thursday, Grand Plaza reported a P1.38-million net loss ...

USC research director wins Ched prize, school bags 2 more awards
cebudailynews.inquirer.net - 2016-08-05
Dr. Largo, PhD, won the award for his paper "Development of an Integrated Multi-tropic Aquaculture (IMTA) for Tropical Marine Species in Southern Cebu, Philippines" published ... same venue on July 26 and 27 was Engineering Dean Evelyn Taboada, PhD ...

Storage ISV
www.ibm.com - 2016-08-05
For detailed information about the genetic reference architecture, please refer the solution document https://public.dhe.ibm.com/common/ssi/ecm/ts/en/tsw03523usen ... create a primary site replication group that includes the 4+ TB remote copy volume ...

Benguet Corp asked to submit report on mine tailing dam impact to downstream communities
news.pia.gov.ph - 2016-08-04
LA TRINIDAD, Benguet, Aug. 5 (PIA) - - Itogon officials are asking the management of the Benguet Corporation to submit their assessment report on impact of mine tailings dam in downstream communities of three barangays in the municipality. A Multi-Partite ...

Globe securing P7-B bank loan for capex
Philstar - 2016-08-04
MANILA, Philippines - Globe Telecom Inc. is entering into a P7 billion loan agreement with a local bank for capital expenditures. The Ayala-led telco also expects to free up about $600 million on its balance sheet which could be used for future fund ...

Philippine stocks rally on rebound in oil prices
interaksyon.com - 2016-08-04
MANILA, Philippines -- Philippine shares on Thursday rallied near the 8,000-mark anew, as investors across the region cheered the rebound in oil prices. The local stock barometer Philippine Stock Exchange index (PSEi) surged 90.13 points or 1.14 percent to ...

China Bank reports higher net earnings despite double digit expenses
BusinessMirror. - 2016-08-04
China Banking Corporation (China Bank) posted higher consolidated net income in the first half of the year, buoyed by strong growth in its core and fee-based businesses. In a disclosure to the Philippine Stock Exchange on Thursday, the Sy-led bank reported ...

Biz Buzz: Chopper buzz
Inquirer - 2016-08-04
Pantay-pantay tayong lahat. (We are all equal)." PLDT might have stumbled in the telecommunications space--even losing valuable market share to main rival Globe--but the telco never compromised on corporate governance, even if it hurts. In a light ...

Duterte slams oligarchs involved in environmental destruction
thestandard.com.ph - 2016-08-04
He said, "kung bubutasin ang mga bundok for tunnels, there will never be any more resources for your children." He also lamented that only those who are well-connected and who know government officials in 'Imperial Manila' get to secure important contracts ...

Oligarchs in government
Manila Standard Today - 2016-08-04
Villar is what I call an oligarchy embedded in government. The most classic of the oligarchs is the Ayala family. Their Ayala Corp. has a market cap of P545.7 billion of which 49.01 percent is owned by the family, inherited from their aunt, Mercedes McMicking.

Oligarchs in government
thestandard.com.ph - 2016-08-04
The Ayala, Madrigal, and Tuason families are classic examples of wealth by inheritance, the first category. Their ancestors got ... chair and CEO of the family holding company, Lopez Holdings Corp. (market cap: P35.27 billion), even while serving as ...

Market rebounds; Melco, PLDT climb
thestandard.com.ph - 2016-08-04
Fifteen of the 20 most active stocks ended in the green, led by Melco Crown (Philippines) Resorts Corp. which climbed 8.5 percent to P3.69 and Metro Retail Stores Group Inc. which gained 4.2 percent to P5.92. PLDT Inc. advanced 3.6 percent to P1,932.

Ongpin quits as PhilWeb chair
thestandard.com.ph - 2016-08-04
Embattled businessman and former trade minister Roberto Ongpin stepped down as chairman and director of online gaming company PhilWeb Corp., dragging the stock price by 36.9 percent Thursday. "I hereby tender my resignation, with immediate effect, as ...

Ongpin quits as PhilWeb chair
Manila Standard Today - 2016-08-04
Embattled businessman and former trade minister Roberto Ongpin stepped down as chairman and director of online gaming company PhilWeb Corp., dragging the stock price by 36.9 percent Thursday. "I hereby tender my resignation, with immediate effect, as ...

DOE moves to avert Luzon power shortage
BusinessMirror. - 2016-08-04
According to the Manila Electric Co. (Meralco), the issuance of yellow and red alerts is the longest streak (seven days, or from July 26 to August 1) since April 2004, when the utility firm first adopted the Interruptible Load Program (ILP), according to ...

DILG cites efforts of ten most competitive cities in Local Economic Development
news.pia.gov.ph - 2016-08-04
"We hope that the strong growth of the Philippine economy can be further sustained by the continuous effort of our LGUs to improve the business climate for investments in their localities," Sueno said. The Cities and Municipalities Competitiveness ...

SMIC income reached P15 billion in January-June
BusinessMirror. - 2016-08-04
SM Prime Holdings Inc. reported consolidated net income of P12.6 billion, a steep 32-percent drop from P18.65 billion last year. BDO Unibank Inc. reported a 13-percent increase in net income to P13.2 billion, partly as a result of onetime gain from the ...

RCBC reports six-month income 3.3 percent higher to P2.6 billion
BusinessMirror. - 2016-08-04
Rizal Commercial Banking Corp. (RCBC) reported higher net income in the first six months of the year, the continued expansion having been buoyed by greater earnings from its lending activities. In a disclosure to the Philippine Stock Exchange on Wednesday ...

SM Prime expects to issue P10 billion-P15 billion bonds next year
BusinessMirror. - 2016-08-04
SM Prime Holdings Inc. will tap the debt market to raise another P10 billion to P15 billion in bonds as part of its P60-billion, three-year plan to finance its growth. The next tranche is eyed for issuance by the first half of next year, said Jeffrey Lim, ...

Melco Crown Philippines Proudly Becomes The First Gaming Operator In Entertainment City To Receive The Regular Gaming License From Pagcor
www.thestreet.com - 2016-08-04
Trade-Ideas LLC identified Melco Crown Entertainment (MPEL) as a "water-logged and getting wetter" (weak stocks crossing below support with today's range greater than 200%) candidate Despite a recent run up in share price, this pure play on the gambling ...

Melco Crown Entertainment Ranked On The Forbes Asia's Fab 50 List
www.thestreet.com - 2016-08-04
Melco Crown (MPEL) stock is sharply higher on Thursday as Macau gaming increased for the first time since May 2014. Trade-Ideas LLC identified Melco Crown Entertainment (MPEL) as a "water-logged and getting wetter" (weak stocks crossing below support with ...

Alsons awards $280-million EPC deal for power expansion project
Manila Bulletin - 2016-08-04
The power group of publicly listed Alsons Consolidated Resources, Inc. has awarded a US$280-million engineering, procurement and construction (EPC) contract to Japanese firm JGC Corporation for the 105MW expansion of its Sarangani coal-fired power project.

Megaworld slates development of Visayas BPO triangle
Manila Bulletin - 2016-08-04
In its ongoing 30-hectare development in Lapu-Lapu City, Cebu called The Mactan Newtown, inventory of office spaces will be around 80,000 sqm. by next year as the company is set to open two more office towers. "In Cebu, there is a growing preference for ...

COA adjusts SMC-Ilijan receivables to P13.466 B
Manila Bulletin - 2016-08-04
Collection of the amount though is still hurdled by pending cases at the Courts. SPPC is a subsidiary of San Miguel Corporation (SMC) that acts as the Independent Power Producer Administrator (IPPA) of the privatized contracted capacity of the Ilijan gas ...

Four takeaways from a BTS concert
BusinessMirror. - 2016-08-04
Needless to say, they did not disappoint. The two-hour concert, which was presented by Pulp Live World and sponsored by Globe Telecom, was filled wall-to-wall with high-octane performances and ments (spiels) that fans lapped up with so much enthusiasm ...

Insular Life elects Luis la Ó as chairman
BusinessMirror. - 2016-08-04
He is the chairman, CEO and president of Xurpas Inc., a technology company specializing in the creation and development of digital products and services. Nolledo is a 2015 Ernst and Young Entrepreneur of the Year Awardee and a 2015 The Outstanding Young ...

Next-Generation Cree CPY LED Canopy Luminaire Delivers Category-Leading Efficiency
www.thestreet.com - 2016-08-04
Cree, Inc. (Nasdaq: CREE) continues to break efficiency records with the next generation of its best-selling CPY 13,000 lumen LED canopy luminaire, delivering category-leading efficiency of up to 136 lumens per watt (LPW).

Globe Telecom expects 7%-9% profit growth in 2016
Rappler - 2016-08-04
MANILA, Philippines - Ayala-led Globe Telecom Incorporated expects its net income for the year to grow by 7% to 9%, seeing uptake in data-related services continuously offsetting decline in traditional voice and SMS revenue. "Our guidance for this year ...

4 stars unite for a cause to help Filipinos have "Money for Life"
Inquirer Lifestyle - 2016-08-04
Sun Life Financial Philippines brings together four of the biggest names ... Moreover, 34% feel that financial service companies cannot be trusted, while 59% prefer to consult with financial advisors. Sometimes people associate "financial security ...

ABS-CBN, GMA contest TV ratings anew
Philstar - 2016-08-04
MANILA, Philippines - ABS-CBN Corp. claimed nationwide leadership in TV ratings, while GMA Network Inc. continued to be the leader in Urban Luzon in July. In a statement, ABS-CBN said it maintained its national audience share of 47 percent versus GMA ...