BDO, Japanese bank team up
BusinessMirror - 2018-06-19
BDO said they are keen on creating alliances with different Japanese regional banks as these serve as conduits of their clients, which are currently doing business in the Philippines or eyeing the country as their next business hub.

Philippines stocks lower at close of trade; PSEi Composite down 1.37%
Investing.com - 2018-06-19
Falling stocks outnumbered advancing ones on the Philippines Stock Exchange by 123 to 69 and 47 ended unchanged. Shares in JG Summit Holdings Inc (PS:JGS) fell to 3-years lows; losing 3.70% or 2.000 to 52.000. Gold Futures for August delivery was up 0.23% ...

Stock market falls to 15-month low
thestandard.com.ph - 2018-06-19
Losers overwhelmed gainers, 161 to 44, with 40 issues unchanged. Conglomerate Ayala Corp. lost 2.6 percent to P925.50, while banking unit Bank of the Philippine Islands, the third-biggest lender in terms of assets, slumped 3.6 percent to P92.35.

Outstanding taxpayers awarded
The Visayan Daily Star - 2018-06-19
The top five corporate business taxpayers are Mainstream Business Inc. (SM Department Store) represented by branch manager Willy Gamboa, Neo Foods Corporation (Jollibee) - Marigold Ponce, SM Prime Holdings Inc. - Julia Javellana, San Miguel Brewery Inc ...

Cemex employees repair two schools in Naga
philstar.com - 2018-06-19
CEBU, Philippines -- In keeping with its primary advocacy of promoting education in the country, Cemex Holdings Philippines in Barangay ... na Paaralan tungo sa Magandang Kinabukasan," the first stop was conducted in Tinaan National High School where ...

Ombudsman urged: Probe Kawit deal
philstar.com - 2018-06-19
Under the Detailed Guidelines and Procedures for Competitive Selection for joint venture with private entities, Saavedra said one of the technical requirements is that the proponent must have completed a project of similar land use. "The prospective JV ...

Peso, stocks fall to new lows
philstar.com - 2018-06-19
In its latest Views from the Metro report, Metrobank said persistent demand from corporates continued to pull down the value of the peso against the greenback. However, it urged investors to be cautious in chasing moves higher for the dollar and peso as ...

PLDT confirms: Maturing obligations to be refinanced with bank loans
philstar.com - 2018-06-19
MANILA, Philippines -- Telco giant PLDT Inc. on Tuesday confirmed reports it may tap banks to refinance its maturing obligations for 2019. Reacting to a report from The STAR, PLDT told the stock exchange that its maturing obligations for next year amount ...

SC junks PCGG's ill-gotten wealth claims vs. Marcos, cronies
CNN Philippines - 2018-06-19
Metro Manila (CNN Philippines, June 19) -- The Supreme Court (SC) junked the government's bid to collect damages against the estate of former President Ferdinand Marcos and his cronies for lack of documentary evidence on how their supposed ill-gotten ...

SC junks P51-B PCGG claim vs Marcoses, cronies
Rappler - 2018-06-19
The PCGG alleged that Cuenca connived with the Marcoses to establish the Construction and Development Corporation of the Philippines (CDCP) - the forerunner of the Philippine National Construction Corporation - which they used as a tool to obtain ill ...

To Russia with love
philstar.com - 2018-06-18
SteelAsia Manufacturing Corp., Eastern Petroleum Corp. and Phoenix Petroleum Philippines Inc., DMCI, EEI Corp., Uniquality and San Miguel Corp. Also represented at the meeting were the Philippines-Russia Business Council, headed by Roberto de Venecia ...

Lone Star Rising
Fortune - 2018-06-18
That was the highest that U.S. production has been since the federal government began keeping records in 1920--higher even than the prior peak of 10 million barrels ... as it finishes its first century of production, may just be getting started.

Suspended ERC commissioners again run to CA
philstar.com - 2018-06-18
The ombudsman found the commissioners guilty of simple neglect of duty for tolerating the misuse of Bill Deposits (BDs) by allowing its commingling with the capital or operation cost of Manila Electric Co. (Meralco) contrary to the purpose for which the BD ...

April remittances post fastest growth in over a year
BusinessWorld - 2018-06-18
"It seems that there is a correlation between the peso weakness and remittances," said Ruben Carlo O. Asuncion, chief economist at Union Bank of the Philippines, Inc. "The probability that more remittances will flow into the economic system is high ...

MPIC logistics unit to build warehouses in Cavite
BusinessWorld - 2018-06-18
MPIC is one of three key Philippine units of First Pacific, the others being Philex Mining Corp. and PLDT, Inc. Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has a majority stake in BusinessWorld ...

Work on LRT-1 Cavite extension to start in Oct.
BusinessWorld - 2018-06-18
THE average daily ridership at the Light Rail Transit Line 1 has gone up by an annual 3% to 459,400 passengers per day during the first quarter of 2018. -- LIGHT RAIL MANILA CORP. LIGHT RAIL Transit Line 1 (LRT-1) operator Light Rail Manila Corp. (LRMC ...

Century Properties to launch P2.8-billion Batangas project
BusinessWorld - 2018-06-18
CENTURY Properties Group, Inc. (CPG) is set to launch its second affordable housing project, where it expects to generate P2.8 billion in sales over the next three to five years. The Antonio-led property developer said it will unveil Phirst Park Homes Lipa ...

Manila Water unit gets franchise for Pangasinan town
BusinessWorld - 2018-06-18
A UNIT of Manila Water Co., Inc. has received on Monday a "notice to proceed ... a Concession Agreement with the Calasiao Water District," Manila Water said. The company said the franchise granted to MWPV is for a term of 25 years with an assumed ...

BDO Unibank partners with Bank of Fukuoka
BusinessWorld - 2018-06-18
"These JRBs are serving as conduits of their clients which are currently doing business in the Philippines or eyeing the country as their next business hub," BDO added. The partnerships were considered a byproduct of the previous memorandum of ...

MRC Allied eyes power generation for LNG facility
BusinessWorld - 2018-06-18
MRC Allied, Inc. may choose to participate only in the power plant component of the liquefied natural gas (LNG) facility that it is studying to build with a foreign partner, its top official said. "We are given an option to just be part of the [power ...

More non-BPO firms driving demand for office space
BusinessWorld - 2018-06-18
A study by real estate services firm Leechiu Property Consultants showed ... how our economy is growing," Kei Tiu Laurel-de Jesus, Frabelle Properties Corp. (FPC) managing director, was quoted as saying in a statement. FPC hopes to capture a piece ...

ERC commissioners run to CA to halt suspension order by Ombudsman
BusinessMirror - 2018-06-18
Asirit and Geronimo D. Sta. Ana said the Ombudsman erred in holding them guilty in allegedly allowing the commingling of the bill deposit with the capital or operation cost of Meralco despite its finding that they are not criminally liable for estafa.

Government loses P51-billion ill-gotten wealth case vs Marcos, cronies
BusinessMirror - 2018-06-18
It added a law student could not have finished the law school and passed the bar examinations without knowing such elementary rule. In Marcos-Manotoc case, the Court noted that "despite having the expansive resources of the government, the members of the ...

Peso slumps to hit fresh trough
BusinessWorld - 2018-06-18
"Any trade war between the US and China could reduce US imports and could strengthen the US dollar as a result, especially versus other global and emerging market currencies," Rizal Commercial Banking Corp. Head of Economics and Industry Research ...

Group renews transparency call in fuel products pricing
BusinessMirror - 2018-06-18
"This is to reflect movements in the international petroleum market," said Seaoil Philippines. Total Philippines, Phoenix Petroleum, PTT Philippines and Eastern Petroleum said their respective price adjustments will take effect at 6 a.m. of June 1

Metropac Movers pours P9.2 billion to develop Cavite property
BusinessMirror - 2018-06-18
The two properties are expected to generate 7,000 jobs upon completion. MMI, a subsidiary of Metro Pacific Investments Corp., is eyeing to be one of the largest logistics firms in the Philippines. It has been acquiring small and midsized companies since ...

LRMC: Phase 1 of LRT 1 Cavite Extension only 95% complete
BusinessMirror - 2018-06-18
LRMC, controlled by Metro Pacific Investments Corp. and Ayala Corp., has invested P7.5 billion in the railway system so far since it took over in 2015.

Showdown in Apo
BusinessMirror - 2018-06-18
Bayron, meanwhile, will be coming into the event brimming with confidence following his victory in the Philippine Golf Tour Asia Manila Southwoods leg two weeks ago. Ababa, winner of two PGTA tournaments in January, is also confident of his chances along ...

MPIC unit buys Cavite property of Pro-Friends
thestandard.com.ph - 2018-06-18
Metro Pacific made its initial foray in the logistics business in 2016 when it acquired the assets of mid-sized corporate logistics provider Basic Logistics for P2.17 billion due to strong demand for logistics services in the country.

Infracorp may hire different operator for Skytrain project
BusinessMirror - 2018-06-18
It envisions to benefit around 60,000 to 100,000 passengers daily going to and from the bustling business districts of Makati and Taguig. "We envision to connect Makati to Taguig and vice versa. These two largest business districts in the country need an ...

SE Asia Stocks-Most extend losses; Philippines hits over 1-yr closing low
Reuters - 2018-06-18
Philippine shares ended 1.5 percent lower ... boosted by an extended surge in pharmaceutical shipments. Indonesian financial markets are closed through Tuesday, June 19, for Eid Al-Fitr. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change ...

NorMin fisher folks attend labor standards, OSH compliance orientation
Philippine Information Agency - 2018-06-18
The order highlights employment standards, such as minimum wage, holiday and premium pay, additional premium pay, overtime pay, night shift, differential pay, 13th-month pay, service incentive leave, social security benefits, and other benefits provided ...

NorMin fisher folks attend labor standards, OSH compliance orientation
Philippine Information Agency - 2018-06-18
The order highlights employment standards, such as minimum wage, holiday and premium pay, additional premium pay, overtime pay, night shift, differential pay, 13th-month pay, service incentive leave, social security benefits, and other benefits provided ...

Bank pilots digital lending
The Visayan Daily Star - 2018-06-18
MANILA - Rizal Microbank, a subsidiary of Rizal Commercial Banking Corp., is testing its digital lending among corn farmers in Mindanao, and will soon expand the financial product in other parts of the country. Rizal Microbank president Raymundo Roxas said ...

SurSur guv earns praise for SOPA
Philippine Information Agency - 2018-06-18
Pimentel had put premium on the much improved peace and order situation citing a "12 percent reduction in crime volume and a decrease in crimes against persons and properties ... legendary figure of the 20th Century," he made sure to recognize ...

MPIC logistics unit to spend P8 billion for expansion
BusinessWorld - 2018-06-18
The logistics unit of Metro Pacific Investments Corp. (MPIC) will be rolling out P8 billion for the development of warehouses and purchase of equipment that will transform it into a leading player in the logistics space. In a disclosure to the stock ...

Ayala shifts focus overseas with aggressive Southeast Asia push
Nikkei Asian Review - 2018-06-18
Ayala Land, the conglomerate's real estate arm, has earmarked 2 billion pesos ($38.5 million) to acquire some 37,500 square meters of land in Klang Valley, a region that encompasses Kuala Lumpur, Malaysia's vibrant capital, and numerous smaller cities that ...

Diokno concerned with 'short' Swiss challenge period for Marawi rehab
Rappler - 2018-06-18
The consortium came under the spotlight when it was found that two of the Chinese companies were blacklisted by the World Bank in 2009. Malacañang defended China State Construction Engineering Corporation and China Geo-Engineering Corporation, saying they ...

Doria to remain at CCPO in absence of post for him
philstar.com - 2018-06-18
Philippine National Police (PNP ... from the PNP and was hailed as one of the top ten Most Outstanding Filipino Men and Women by the Metrobank Foundation. Albayalde said that just like the previous commander of the Police Regional Office (PRO)-7 Chief ...

Century Properties Group to launch P2.8-billion Batangas project
BusinessWorld - 2018-06-18
Century Properties Group, Inc. (CPG) will be launching its second affordable housing project in Lipa, Batangas, where it expects to generate P2.8 billion in sales over the next three to five years. The listed property developer is set to unveil PHirst Park ...

Debt-ridden soldiers to undergo financial management seminar -- AFP
UNTV - 2018-06-18
The Armed Forces of the Philippines (AFP) will conduct a financial management training for its members to prevent them ... and the anti-kidnapping groups of the Moro National Liberation Front (MNLF). "Upon the instructions of President Rodrigo Duterte ...

Central Visayas gets 200,000 sacks of new rice supply
Sun Star - 2018-06-18
These are part of the promised 500,000 sacks of imported rice that the National Food Authority (NFA) will distribute in Central Visayas, particularly to National Government agencies, local government units and its official retailers. Rice retailers expect ...

Metro ties up with large FMCG firms to sell their brands
Economic Times - 2018-06-18
Metro ... stores faced difficulty in purchasing stock from consumer goods distributors due to a cash-crunch with the wholesale channel almost collapsing for a few weeks especially in rural markets. The Düsseldorf-based retail and wholesale group, however ...

National poomsae tourney slated June 23-24
philstar.com - 2018-06-18
MANILA, Philippines -- The Philippine Taekwondo Association ... CARAGA and NCR while the chapters include Central Gymnasium, Powerflex, Ateneo, San Sebastian College, UP, San Beda College, La Salle Zobel, DLSU, Team Baguio, Pangasinan, Cebu, Bulacan ...

Philippine officials off to Tokyo for samurai bond roadshow
philstar.com - 2018-06-17
MANILA, Philippines -- A Philippine delegation is ... is scheduled to meet officials from Daiwa Securities Group, Nomura Holdings Inc, Mizuho Bank Ltd., Sumitomo Mitsui Banking Corp., and Mitsubishi UFJ Financial Group. to discuss the samurai bond float ...

Stock market eyes BSP meeting
Manila Standard Today - 2018-06-17
Weekly top price losers, meanwhile, were Lopez Holdings Corp., which declined 12.7 percent to P3.65; Rizal Commercial Banking Corp., which dropped 8 percent to P30.45; and SM Prime Holdings Inc., which fell 7.8 percent to P34.75. Meanwhile, Wall Street ...

Alliance Global begins monorail project in Makati
Manila Standard Today - 2018-06-17
INFRACORP Development Inc., a unit of Alliance Global Group Inc. of tycoon Andrew Tan, said it may select its operations and maintenance partner and as well as the technology supplier for its planned P3-billion sky train monorail project by the last ...

Ombudsman suspends 4 ERC commissioners anew
philstar.com - 2018-06-17
Ana, who were able to return to their posts after securing a temporary restraining order from the Court of Appeals (CA) on the one-year suspension order earlier this year, will now have to again vacate their post. The Ombudsman ordered their suspension ...

Visionaries and scoundrels made the Los Angeles Times, which returns to local ownership after 18 years
Los Angeles Times - 2018-06-17
Security First National Bank At the same time, Chandler began buying property where that water would end up. One of his syndicates, the Los Angeles Suburban Homes Company ... while The Times became the largest metropolitan newspaper by circulation in ...

3 passengers held for bomb joke, bullet, false claim
philstar.com - 2018-06-17
In a complaint filed by Philippine Airlines flight attendant Marissa Galvez, Malimban, who works as a manager for a company in Riyadh, made a scene after he was refused a third glass of wine. When the attendants prevented Malimban from getting a bottle of ...