Philippines Cos. Want Dialogue With Regulator Over $1B Deal
Law 360 - 2016-06-22
Law360, Washington (June 22, 2016, 12:24 PM ET) -- Philippine Long Distance Telephone Co. and Globe Telecom Inc. are pushing to open a dialogue with the newly created Philippines Competition Commission to address "uncertainties" the regulator may have ...

Fort Bonifacio buses to use beep cards
thestandard.com.ph - 2016-06-22
AF Payments Inc., a consortium led by Ayala Corp. and Metro Pacific Investments Corp., teamed up with a bus operator in Bonifacio Global City, Taguig to accept payments through reloadable contactless smart cards. "We are pleased to partner with BGC Bus ...

Mining shares hammered after antimining advocate appointed environment secretary
BusinessMirror. - 2016-06-22
The rest edged lower with notable net foreign selling seen in some of the biggest mining firms. Semirara Mining and Power Corp., which closed at P119.50, or a drop of 10 percent, had the biggest foreign sell-off at P28.42 million, followed by Philex Mining ...

SMC Global to use P15-billion bond proceeds to pay off debt
BusinessMirror. - 2016-06-22
In its filing before regulators, the company said it hopes to refinance its $300-million outstanding short-term loan it secured with BDO Unibank Inc. in January last year. The loan falls due on July 25. The term loan was used to redeem the $300 million ...

Business as usual for mining firms
Manila Bulletin - 2016-06-22
"Nobody wants to see the value of the company going down," he added. For his part, Semirara Mining and Power Corp. Chairman and CEO Isidro Consunji said in a text message that the industry should just "wait and see" if Lopez was really the right ...

Ayala launches P656-M affordable housing project
Manila Bulletin - 2016-06-22
A P656-million housing project will be built by a subsidiary of Ayala Land Inc. in San Miguel town, Iloilo province. BelleVita Land Corp. President Lyle Abadia said that the 1,800 housing units that stand in an 11.7-hectare site are designed as an ...

Ayala launches P656-M affordable housing project
Manila Bulletin - 2016-06-22
A P656-million housing project will be built by a subsidiary of Ayala Land Inc. in San Miguel town, Iloilo province. BelleVita Land Corp. President Lyle Abadia said that the 1,800 housing units that stand in an 11.7-hectare site are designed as an ...

Quo vadis, mining industry?
BusinessMirror. - 2016-06-22
Philex Mining Corp. shares stumbled 12.17 percent to end at P8.01 per share, and those of its subsidiary, Philex Petroleum Corp.--which explores and produces crude oil, natural gas and coal--tripped by 10.94 percent to end at P4.07 each. Philex Mining is ...

Lender anticipates more muted income in April-to-June period
BusinessMirror. - 2016-06-22
Rizal Commercial Banking Corp. (RCBC) anticipates still higher net income in the remaining months of the year on the basis of consumer loans picking up as businesses and households progressively becoming liquid, as consequence of both election- and ...

PAL, Marianas, biz groups make strong pitch for new Saipan service
BusinessMirror. - 2016-06-22
THE government of the Commonwealth of the Northern Marianas Islands (CNMI) and business groups, led by conglomerate Tan Holdings Corp., assured Philippine Airlines (PAL) of their all-out support in promoting the new service between Saipan and Manila.

Mining shares drop on news of Lopez in DENR post, but analysts unfazed
interaksyon.com - 2016-06-22
Philex Mining was the biggest loser, falling 12.2 percent. Lepanto Mining, Nickel Asia and Manila Mining also declined, and out of six sectors in the stock market, only the mining and oil counter fell. Regina Capital's Luis Limlingan said that even if ...

Mining shares drop on news of Lopez in DENR post, but analysts unfazed
interaksyon.com - 2016-06-22
Philex Mining was the biggest loser, falling 12.2 percent. Lepanto Mining, Nickel Asia and Manila Mining also declined, and out of six sectors in the stock market, only the mining and oil counter fell. Regina Capital's Luis Limlingan said that even if ...

Duterte names ex-schoolmate Rodolfo Salalima DICT head
Philippine Daily Inquirer - 2016-06-22
Salalima previously served as a Senior Vice President for Corporate and Regulatory Affairs of Globe until 2008. He is currently the President of the Philippine Chamber of Telecommunications Operators, Inc. (PCTO) and a Board Director of the Telecoms ...

Investors in mining panic over Gina Lopez appointment
Rappler - 2016-06-22
Philex Mining Corporation led the fall, crashing 8.11% to end P7.36 per share as of 12 noon on Thursday, Manuel V. Pangilinan, who heads both Philex Mining as chairman, shared his observations on Twitter, too. Crash in Ph Mining stocks this morning.

Ex-Globe chief counsel tapped to head new DICT
Rappler - 2016-06-22
MANILA, Philippines - Retired Globe Telecom Chief Counsel Rodolfo "Rudy" A. Salalima has been appointed by President-elect Rodrigo Duterte to head the new Department of Information and Communications Technology (DICT), according to a statement by ...

Batangas City approves permit for coal plant
Philippine Daily Inquirer - 2016-06-22
Once operational, this would be the third coal-fired power plant in the province. The others are the plant operated by DMCI Power Corp. in Calaca town and a coal storage facility in Ibaan town--the biggest in the country so far. In a two-hour session ...

PLDT setting up 4 new data centers in 2016
interaksyon.com - 2016-06-22
MANILA - PLDT is building four new data centers this year as part of its shift towards digital services from mainly offering calls and text. According to PLDT executive vice president Eric Alberto, the first of the four projects, the P2-billion data center ...

DENR appointment spooks miners
m.bworldonline.com - 2016-06-22
Inc., 2.08% to P1.88; NIHAO Mineral Resources International, Inc., 3.57% to P2.70; and Nickel Asia Corp. went down 5.63% to P5.03 per share. Abra Mining and Industrial Corp., which has not begun commercial extraction of minerals, ended flat at 0.42 ...

SC issues writ of kalikasan vs Zambales mining firms
m.bworldonline.com - 2016-06-22
Cruz, Zambales. Those subject to the writ are Benguet Corporation Nickel Mines, Inc. (BNMI), Eramen Minerals, Inc. (EMI), LNL Archipelago Minerals, Inc. (LAMI), Zambales Diversified Metals Corporation (ZDMC), and Shangfil Mining and Trading Corporation (SMTC).

Metrobank Foundation names 2016 TOPS
news.pia.gov.ph - 2016-06-22
QUEZON CITY, June 22 (PIA) - The Metrobank Foundation , Inc. and the Rotary Club of Makati ... The members of the Preliminary Board of Judges were: De La Salle University College of Law Dean, Atty. Jose Manuel I. Diokno; Ateneo de Manila Law School ...

Tugade eyes 30-year transport road map
BusinessMirror. - 2016-06-21
We can tackle the issues in terms of policies and agreements, in the first 100 days," Tugade said, revealing he has spoken to both Metro Pacific Investments Corp. and Ayala Corp. (the joint venture of Light Rail Manila Corp.), and other parties involved ...

LT Group earmarks P10b to expand businesses
thestandard.com.ph - 2016-06-21
LT Group president Michael Tan said in an interview at the sidelines of the annual ... LT Group has stakes in cigarette manufacturer PMFTC Inc., Philippine National Bank, Philippine Airlines, Tanduay Distillers Inc. and Eton Properties Inc. Tan said ...

Filipino global brands to shine at Franchise Asia Philippines
BusinessMirror. - 2016-06-21
Franchise Asia Philippines 2016 is copresented by BPI Ka-Negosyo and PLDT Smart SME Nation, and in partnership with the Department of Trade and Industry, the Philippine Chamber of Commerce and Industry, the Philippine Retailers Association and GoNegosyo.

In The Know: Ernesto Maceda
Philippine Daily Inquirer - 2016-06-21
One of the irregularities he denounced was the joint venture agreement (JVA) between the Public Estates Authority and the Amari Coastal Bay and Development Corp. to reclaim lands ... American military bases in the Philippines. The 12-to-11 Senate vote ...

The mark of the Sys: Why Conrad Manila is a must-see (and must-stay)
Inquirer Lifestyle - 2016-06-21
All glass curtain walls and windows are Low E (thermal emissivity) and double-glazed. Hans Sy, chief executive officer and president of SM Prime Holdings Inc., says, "SM designed all engineering work to be compliant with all local codes but we had to ...

Public phone charging stations may be unsafe
Inquirer Lifestyle - 2016-06-21
I have actually warned readers about this more than a month ago, after Globe Telecom confirmed it was a scam. But I have heard that some people have actually done as they were asked and sent phone load to the number given. The NTC warning, which is in ...

Tips on how to buy the perfect television set
Manila Bulletin - 2016-06-21
Majority of the consumers more often than not buy from the top four TV manufacturers: Sony, Samsung, LG, and Panasonic. Samsung and LG, both market leaders in television, have vast collections ranging from cheap TVs to first-rate big screen sets.

Gina Lopez spooks mining stocks
Inquirer - 2016-06-21
Among the top losers were Philex Mining, Philex Petroleum Corp., Lepanto Consolidated Mining, Apex Mining and Manila Mining Corp. Analysts said investors dumped mining stocks on Tuesday on expectations that the regulatory environment for mining might ...

Gina Lopez spooks mining stocks
Inquirer - 2016-06-21
Among the top losers were Philex Mining, Philex Petroleum Corp., Lepanto Consolidated Mining, Apex Mining and Manila Mining Corp. Analysts said investors dumped mining stocks on Tuesday on expectations that the regulatory environment for mining might ...

LT Group allots P10 B for expansion, new projects
Philstar - 2016-06-21
LTG businesses include beverage company Asia Brewery Inc., property developer Eton Properties Philippines Inc., cigarette firm PMFTC Inc., banking giant Philippine National Bank (PNB) and liquor company Tanduay Distillers Inc. During the stockholders ...

Liberty owners to get exit option
Inquirer - 2016-06-21
INDUSTRY giants PLDT Inc. and Globe Telecom said on Tuesday they planned to launch and complete this year a "voluntary" buyout offer to minority shareholders of listed Liberty Telecoms Holdings Inc. in line with the recent acquisition of San Miguel ...

LT Group expands to energy
Inquirer - 2016-06-21
TYCOON Lucio Tan-led conglomerate LT Group Inc. (LTG) is looking to diversify its revenue stream and debut in the energy sector with a potential investment in an 80-megawatt wind farm in Pililla, Rizal. Talks are ongoing with Alternergy Wind One Corp.--a ...

Midnight deals
thestandard.com.ph - 2016-06-21
Asian Terminals Inc. and the ... services at the Manila North Harbor which shall include, but not limited to: cargo handling services, passenger terminal management, parking services, berth management, storage management, water distribution system ...

LT Group allots P10 billion in capex this year
BusinessMirror. - 2016-06-21
LT Group Inc., the holding firm of most businesses owned by tycoon Lucio Tan, said it has allotted P10 billion in capital expenditures this year, mainly for its property-development initiatives and software upgrades in its bank. The allotment is higher ...

SMC tests coal-fired power unit in Davao
thestandard.com.ph - 2016-06-21
SMC Global Power Holdings Corp., a unit of conglomerate San Miguel Corp., started testing and commissioning the first phase of its 300-megawatt ... one of the most under-penetrated markets in the Philippines, "but is a region ripe for investment offering ...

Bohol and PTAA vow to work closely together
Manila Bulletin - 2016-06-21
With Philippine Airlines (PAL) set to have international chartered flights to Bohol, the province is turning to the Philippine Travel Agencies Association (PTAA) for assistance in its campaign to become a leading tourism destination in the Asia Pacific region.

Guimaras withdraws TRO vs Iloilo ferry terminal project
Manila Bulletin - 2016-06-21
Iloilo City -- The provincial government of Guimaras is no longer keen on having the courts issue a temporary restraining order (TRO) against the new P135-million ferry terminal and mall project being built by DoubleDragon Properties Corp. in Iloilo City.

BancNet re-elects Tan, Chua
Manila Bulletin - 2016-06-21
Tan is also the president of the Bankers Association of the Philippines. During their annual meeting recently ... Montesa (Land Bank), Justo A. Ortiz (Union Bank), Alfonso L. Salcedo Jr. (Security Bank), and Elfren Antonio S. Sarte (Robinsons Bank).

Private equity firm gets 40 percent of BDO subsidiary
BusinessMirror. - 2016-06-21
International equity investment platform TPG Growth announced an agreement to secure two-fifths of the stake in One Network Bank (ONB), the rural-bank subsidiary of BDO Unibank Inc. The transaction, which is still subject to closing conditions and ...

Business groups look to work with Duterte
BusinessMirror. - 2016-06-21
Mike T. Toledo, senior vice president for Public and Regulatory Affairs of Philex Mining Corp., expressed bullishness about the economy under the Duterte presidency. He said the effort to reach out to private corporations and the business community is a ...

New Mimosa owner agrees to raise age limit of workers
BusinessMirror. - 2016-06-21
The new owner, Filinvest Consortium, was given a Notice of Award dated January 27, 2016, by Clark Development Corp. (CDC) for the lease, development, operation and management of the former MLE, covering 201.64 hectares through a 50-year lease agreement ...

Gina Lopez accepts DENR post
Philippine Daily Inquirer - 2016-06-21
"The poor are suffering so that they (companies) can make money," she said. She pointed out the case of Semirara Mining and Power Corp., which she branded as a "nightmare" because "seaweed farmers are suffering." Instead, Lopez said the ...

Vista Land, SM Prime bag Hong Kong publication award
BusinessMirror. - 2016-06-21
PROPERTY developers Vista Land and Lifescapes Inc. and SM Prime Holdings Inc. bagged awards for their good corporate governance practices during the sixth Asian Excellence Award 2016 led by Hong Kong-based publication Corporate Governance Asia. Vista Land ...

SC orders Zambales mining firms to stop operations
Rappler - 2016-06-21
On May 20, the residents, led by anti-mining advocate Concerned Citizens of Santa Cruz (CCOS), filed before the SC a petition for writ of kalikasan against the following mining firms: Benguet Corporation Nickel Mines Incorporated Eramen Minerals ...

Philippines' Duterte to review projects as environmentalist gets mining post
Reuters - 2016-06-21
News that Lopez, sister of media conglomerate ABS-CBN Corp Chairman Eugenio Lopez III, was being offered the environment post sent shares of Philippine mining firms sliding on Tuesday. Duterte, in his victory speech on June 4, warned mining companies to ...

PLDT, Globe agree to tender offer for Liberty shares
Manila Bulletin - 2016-06-21
Philippine Long Distance and Telephone Company and Globe Telecom, through Vega Telecom Inc., have agreed to undertake a tender offer for shares issued by Liberty Telecoms Holdings, Inc.(LIB). In a disclosure to the Philippine Stock Exchange, PLDT ...

Globe activates 10 more 700MHz sites
Inquirer - 2016-06-21
Globe Telecom bolstered its mobile internet network in Quezon City as more cell sites were outfitted to transmit the 700 megahertz frequency it recently acquired. In a statement on Tuesday, Globe said 10 more cell sites using the 700 MHz had been fired up ...

Duterte offers DENR post to ABS-CBN's Gina Lopez
interaksyon.com - 2016-06-21
ABS-CBN Lingkod Kapamilya Foundation Inc. is the non-stock, non-profit socio-civic organization of the ABS-CBN Corporation that facilitates social programs and outreach to the public. The top DENR post remains open after it was first offered to Bayan Muna ...

Globe improves mobile internet in Quezon City
Manila Bulletin - 2016-06-21
Globe Telecom activated 10 more cell sites using the 700 megahertz spectrum as the company further improves the mobile internet services. In a statement, Joel Agustin, Globe Senior Vice President for Program Governance, Network Technical Group, said the ...

Luzon grid on yellow alert over low reserves
m.philstar.com - 2016-06-21
The Manila Electric Company (Meralco) has tapped its interruptible load program to de-load their consumption from their grid through their generator sets. The following units of power plants are offline: 302-MW GN Power unit 1, 140-MW Southwest Luzon Power ...