Why airports matter
thestandard.com.ph - 5 months ago
The economy produces goods and services (or Gross Domestic Product ... More than 100 million Chinese travel abroad yearly and they have recently taken to liking the Philippines making them Manila ...

Stocks jump; San Miguel surges
thestandard.com.ph - 5 months ago
Bank of the Philippine Islands, the third-biggest lender in terms of assets, rose 5.2 percent to P95.80, while Alliance Global Group Inc. of Andrew Tan gained 5.8 percent to P13.42. The rest of Asian markets were mixed Thursday as China and the US ...

Work on Makati subway to start in December -Binay
Philippine Daily Inquirer - 5 months ago
Binay said the unsolicited public-private sector partnership (PPP) proposal and draft joint venture agreement submitted by a consortium of foreign and local companies led by listed firm IRC Properties Inc. have been granted "original proponent status."

BOI: P11.46 billion worth of projects for Cebu, Bohol
philstar.com - 5 months ago
inclusive business models; environment and climate change; innovation drivers; and energy. Also deemed priorities are: export businesses including services, activities in support of exporters, and production and manufacture of export products; activities ...

Share prices soar on bargain hunting
philstar.com - 5 months ago
MANILA, Philippines -- Share prices rallied yesterday as investors gobbled up bargain stocks and made bets for long-term positions, analysts said. The benchmark Philippine Stock Exchange index (PSEi) soared 171.77 points, or 2.25 percent, to finish at ...

Investments in disaster risk reduction urged
philstar.com - 5 months ago
Apart from the SM Group, other ARISE Philippine members are Aboitiz Equity Ventures, Double Dragon Properties, Jollibee Foods Corp., Manila Electric Co. and The STAR Group of Publications, among others.

Groundbreaking for $3.7-billion Makati subway expected by end of 2018 -- Binay
BusinessWorld - 5 months ago
In a statement on Thursday, Makati City Mayor Abigail S. Binay said the Swiss challenge for the urban rail system proposed by a consortium led by IRC Properties, Inc. is set to end by Sept. 24. The IRC-led consortium was granted original proponent status ...

PCC starts further review of URC-Roxas Holdings deal
BusinessWorld - 5 months ago
In a statement, the Gokongwei-led URC said it will acquire all buildings, improvements, machineries and equipment, and laboratory equipment, owned by RHI and its subsidiary Central Azucarera Don Pedro, Inc. (CADPI), as well as the land on which these ...

BPI eyes senior note drawdown
BusinessWorld - 5 months ago
Philippine National Bank and Rizal Commercial Banking Corp. have also tapped the foreign debt market recently, raising $300 million and $150 million, respectively, from its medium-term note facilities. In April, BPI raised P50 billion through a stock ...

Cebu Pacific adds 2 new local routes from Clark
BusinessWorld - 5 months ago
It will restart direct flights from Clark to Caticlan also by Oct. 28, when Boracay is expected to reopen for business. Cebu Air, Inc., the listed operator of Cebu Pacific, reported its net income for the first six months of 2018 dropped 24% to P3.309 ...

Bangon Marawi? Rush to seal deals locked in delay, confusion, funds lack
MindaNews - 5 months ago
Official Development Assistance (ODA), and the float of "Marawi Bonds" that is still on the drawing board of the Department of Finance. National Treasurer Rosalia de Leon had told PCIJ earlier that the government was thinking of pegging the "Marawi ...

Argentine senate approves search of Kirchner homes
Rappler - 5 months ago
BUENOS AIRES, Argentina - Argentina's senate on Wednesday, August 22, authorized investigators to search 3 homes belonging to former president ... during the first decade and a half of the 21st Century." - Rappler.com

Bank accounts tied to P2-billion drug hoard convict frozen
BusinessMirror - 5 months ago
The appellate court reinstated the freeze order covering Banco de Oro Account Number 4898009067 jointly owned by Jeffrey and Jean; and Metrobank Account Number 7640028854 owned by Jin. It held that the Regional Trial Court in Manila City erred in lifting ...

Legislator to passengers: File class action suit vs. airlines
BusinessMirror - 5 months ago
... and whose flights were delayed and cancelled to file class action suits against the airlines that made them go through hell last weekend," she said. Philippine aircraft accident investigators took the first flight to Singapore on Thursday bringing ...

Dutch in the hunt
BusinessMirror - 5 months ago
4 and 13 as the Cebuano ace seized solo fifth at 136, just three strokes off the pace with 36 holes to play in the P3-million tournament sponsored by ICTSI and organized by Pilipinas Golf Tournaments Inc. Justin Quiban, winner at Philippine Golf Tour (PGT ...

Saying No to federalism
BusinessWorld - 5 months ago
Remember that, as we have regions rich in fish, marine resources, and minerals, but depend on "Imperial Manila" for their survival (e.g., Masbate, Samar, Ifugao, Bukidnon, Bicol, Negros Oriental; for ARMM, that amounts to 98%, which in 2014 reportedly ...

UnionBank ties up with SAP to streamline operations with cloud-based solution
BusinessMirror - 5 months ago
ENTERPRISE application software provider SAP announced on Wednesday that UnionBank of the Philippines has tapped its cloud solution to streamline its operations and meet business requirements. According to UnionBank Chairman and CEO Justo A. Ortiz, ...

San Miguel plans record $2.65bn sale of food unit shares
Nikkei Asian Review - 5 months ago
The public float of the company, formerly known as San Miguel Pure Foods, fell to 4.12% after it was used by San Miguel as a vehicle to consolidate its food and beverage businesses. San Miguel, the largest Philippine company by sales, said it will use the ...

Roxas Holdings in talks with URC to sell milling, refining operations
BusinessMirror - 5 months ago
LISTED sugar refiner Roxas Holdings Inc. (RHI) said it would sell its milling and refining operations in Batangas to Universal Robina Corp. (URC) to reduce its debts, which currently stands at P3.875 billion. In a statement on Thursday, RHI said it has ...

CA affirms freeze order on bank accounts linked to Chinese drug syndicate
Rappler - 5 months ago
The bank accounts from BDO and Metrobank belong to Jeffrey Su Go, Jean Pearl Yana Go, and Jin Zhang. The 3 people appealed to the CA to lift the freeze order issued by the appellate court in June 2017, but their motions for reconsideratioon were denied by ...

SMC interested to bid for Malaya thermal-power plant
BusinessMirror - 5 months ago
The four bidders are APT Global Inc., Phinma Energy Corp., Riverbend Consolidated Mining Corp. and AC Energy Holdings Inc. They submitted letters of interest on December 20, 2016. The auction was supposed to take place in March 2017 but was put on hold ...

Government releases criteria for third telco player selection
CNN Philippines - 5 months ago
In a public consultation on Thursday, the Department of Information and Communications Technology (DICT) laid down three major criteria in choosing the third company that will compete with Globe and PLDT. These are national population coverage (40% ...

Vietnam telecom firm Viettel eyes Philippine market
InterAksyon - 5 months ago
who had said late last year that a third player would join the market and end the duopoly of PLDT Inc and Globe Telecom Inc, which have a combined market capital of about $10.7 billion. "Viettel is interested in the third license on telecommunications in ...

Filinvest to finish second office tower in Pampanga by December
BusinessWorld - 5 months ago
Clark, Pampanga--Filinvest Land, Inc. (FLI) is set to finish its second office tower within its 201-hectare tourism and leisure estate in Pampanga this year, as it seeks to cater to the influx of business process outsourcing (BPO) firms in the province.

Petron Activates Lakbay Alalay for National Heroes Day Weekend
News Philippines Yahoo - 5 months ago
South Luzon: PEC 3 SLEX, San Pedro, Laguna; PNCC Km 44 SLEX, Silangan, Cavite; and Star Tollways, Malvar, Batangas. To assist homebound motorists on Monday, August 27, the Petron Lakbay Alalay teams will be on site from 10 AM to 8 PM at the following ...

Degamo pushes renewable energy
The Visayan Daily Star - 2018-08-23
that was organized by the Green Convergence group in partnership with the Forest Foundation of the Philippines and Energy Development Corporation (EDC). "I am happy that my message was met with a positive response from the environmentalists and the ...

Health sensors startup wins PH leg of global Swiss contest
newsbytes.ph - 2018-08-23
One Watt, a startup that non-invasive sensors to "listen" to motors used in health monitoring, has won the Philippine round of Seedstars ... a training system for flight attendants that saves airlines millions of dollars by using virtual reality ...

Seamless Philippines 2018 unravels future of Philippine commerce
philstar.com - 2018-08-23
banks and financial institutions, media, and food and beverage, among others. The wide-scale audience and participants that Seamless Philippines gathers creates a thriving conjunction where business deals are closed and partnerships are forged. For four ...

Rivals UV, Ateneo meet in SBP final
Sun Star - 2018-08-23
DEFENDING Cebu leg titleholder Sacred Heart School-Ateneo de Cebu (SHS-AdC) and the University of the Visayas (UV) arranged yet another rematch in the SBP division of the 33rd SBP Passerelle Twin Tournament backed by Milo, after picking up wins last ...

Economic Times - 2018-08-23
This payment solution will enable members, especially kiranas/resellers to make direct and secured payments online from their bank account without sharing bank details, the global retail giant said in a press release. Trade war is seen as the biggest tail ...

Economic Times - 2018-08-23
Top execs and promoters of some Bitcoin exchanges have been asked to explain their business model and how much tax could be levied on their revenues. Foreign direct investment by Japanese companies has also soared, reaching $3.7 billion in 2016, its second ...

Construction of Makati City subway system to start in December
Philippine Daily Inquirer - 2018-08-23
She pointed out that the project is an unsolicited public-private partnership proposal between a consortium led by IRC Properties, Inc. and the city government. She stressed that the local government will not spend anything on the multibillion-dollar ...

Economic Times - 2018-08-23
In a message to shareholders in the company's Annual Report for 2017-18, Lal said the company is also developing light and heavy-duty buses for the Middle East and African markets. Alphabet Inc's self-driving unit Waymo has set up a subsidiary in Shanghai ...

San Miguel food unit selling P142-billion worth of shares
thestandard.com.ph - 2018-08-22
Sources said if the P142-billion planned share sale of SMFB pushed through, it would be the largest equity deal in the local bourse and would easily surpass the P38-billion ($912 million) follow-on offering of LT Group Inc. of beer and tobacco billionaire ...

C3 Expressway in conflict with another project--DPWH official
thestandard.com.ph - 2018-08-22
We will declare completeness [review] once it is clean," Bote said. AC Infrastructure, a wholly-owned subsidiary of Ayala Corp. and SM Investments Corp., submitted their proposal to the Public Works Department to design, finance, construct, operate and ...

Market rebounds; Jollibee climbs
thestandard.com.ph - 2018-08-22
Gainers and losers were even at 103 each, with 36 issues unchanged. Jollibee Foods Corp., the biggest fast-food chain, advanced 4.8 percent to P286, while Universal Robina Corp., the largest snack food maker, also climbed 4.8 percent to P139. Manila ...

Consumer hotline
thestandard.com.ph - 2018-08-22
Globe Telecom Inc., through technology arm Globe Business, teams up with the Trade Department to make it easier for Filipino businesses and consumers to air their issues and concerns via the 1-DTI (1-384) consumer hotline which is now ready to accept calls.

OpenSignal: Smart offers faster mobile Internet, but Globe has widest coverage
BusinessMirror - 2018-08-22
SMART Communications Inc. continued to offer faster mobile Internet speeds versus its only competitor, but Globe Telecom Inc. still ranked as the top mobile provider with the widest coverage, data from a crowdsourcing analytics firm showed. Based on its ...

DICT Sec. Rio: 3rd telco player in PHL may be named by late October or early November
TechnoChops - 2018-08-22
expected to challenge the duopoly that has been maintained by Globe Telecom and PLDT Inc., for as long as Filipinos can remember. Rio has said that the public might know the name of this new telco by the end of October this year. The DICT Secretary has ...

Construction of SBPL coal plant is 90% complete
BusinessMirror - 2018-08-22
The senior-term loan lenders are BDO Unibank Inc., China Banking Corp., Metropolitan Bank and Trust Co., Philippine National Bank and Rizal Commercial Banking Corp. BDO Unibank Trust and Investments Group served as the loan facility agent, while Metrobank ...

Operators at Entertainment City brace for the entry of fifth player
BusinessMirror - 2018-08-22
Bayshore, now called Westside City Resorts World, is a joint venture between businessman Andrew Tan and Genting Hong Kong. The property is still under construction and will be the last to open in the complex in three years. Bloomberry Resorts Corp., led by ...

OSG asks CA to reverse ruling against regularization of PLDT contractual employees
BusinessMirror - 2018-08-22
THE Department of Labor and Employment (DOLE) on Wednesday asked the Court of Appeals (CA) to reverse its July 31 ruling which nullified its order for Philippine Long Distance Telephone Company (PLDT) to regularize its 7,344 workers hired under the labor ...

Hefty PIT cuts under TRAIN fuel mall, fast food sales growth-DOF
BusinessMirror - 2018-08-22
Lambino II said that retail giants and fast-food chains like Robinsons Retail Holdings Inc., Philippine Seven Corp. and Puregold Price Club (Pgold ... Pgold said its net income grew by 25.6 percent in the first half of 2018 to P3.08 billion.

DOLE asks CA to reverse decision vs worker regularization in PLDT
Rappler - 2018-08-22
MANILA, Philippines - The Department of Labor and Employment (DOLE) asked the Court of Appeals (CA) on Wednesday, August 22 to reverse its July 31 ruling, which effectively voided the regularization order to PLDT Incorporated. On Wednesday, DOLE, through ...

These rookie Minnesota farmers are picking a fight with Big Ag
City Pages - 2018-08-22
Burtness grew up in Coon Rapids and helped launch the student farm at St. Olaf College; Nguyen is a Minneapolis-raised computer engineer. Fifty years ago, Spring Grove was home to an abundance of small hog farmers. Then overproduction of corn and soy drove ...

Stock Market 005: Harsh PSE realities
BusinessMirror - 2018-08-22
Finally, there is the group variously known as "basura stocks," "Rocket ... That three-day seminar where you learned all those financial evaluation methods will not apply to figuring out which company will be "the third telco."

COHEN pleads guilty, and blames TRUMP -- AG candidates say they'll investigate CUOMO -- The IDC as archvillain
Politico - 2018-08-22
New York Gov. Andrew Cuomo. The survey showed Trump at 30 percent ... A tenured history professor at Rutgers University has been found guilty of violating the school's policy on harassment and discrimination, after posting to Facebook earlier this summer ...

Bungled rehabilitation
philstar.com - 2018-08-22
For those not familiar with what corporate rehabilitation is, it is one that is intended to enable a distressed company to gain a new lease on life and to continue its business as a going concern. It is not intended to close and liquidate a company.

Property developers building more dorm-type condos
BusinessWorld - 2018-08-22
The entire project stands on a 5,960-sq.m. property. Last July, property giant Ayala Land, Inc. (ALI) also opened its dormitory type property called The Flats at Amorsolo St., Makati City. The 15-storey building features co-living spaces catered towered ...

How to ensure rights of airline passengers are upheld in case of delays, cancellations
InterAksyon - 2018-08-22
Passengers are asking for their rights to be upheld and recognized after one of the biggest mishaps in the history of Philippine air transport. (Artwork by Uela Altar-Badayos) The runway mishap involving a Boeing 737-8000 plane owned by Xiamen Airlines and ...