Business
PCC expedites review process for selected mergers
June 18, 2019, 5:47 pm
MANILA -- The Philippine Competition Commission (PCC) has expedited the review process for selected merger and acquisition transactions, in line with government’s efforts to ease the process of doing business in the country. The PCC said the hastened merger review will take 15 days instead of 30… Read More
56 Eastern Visayas LGUs ready for online business processing
June 18, 2019, 5:42 pm
PALO, Leyte -- At least 56 local government units in Eastern Visayas are ready for online filing of business application and processing, the Department of Information and Communication Technology (DICT) regional office here has reported. The towns of San Roque, Northern Samar and San Juan,… Read More
Lucio Tan's daughter now PAL OIC
June 18, 2019, 5:09 pm
MANILA -- Flag carrier Philippine Airlines (PAL) on Tuesday announced the appointment of Lucio Tan's daughter, Vivienne, as the airline's officer-in-charge after Jaime Bautista’s retirement as president and chief operating officer. The tycoon sits as PAL chairman and chief executive officer,… Read More
Analyst sees need for more warehouses outside NCR
June 18, 2019, 3:33 pm
MANILA -- The real estate sector has been going through a major transformation over the past few years driven by decentralization and the emergence of new opportunities outside Metro Manila, which inevitably calls for supporting infrastructure. Amid challenges in infrastructure and connectivity,… Read More
Watch out for rise of REITs, investors told
June 18, 2019, 2:47 pm
MANILA -- Since the passing of Republic Act 9856 in 2009, stakeholders of the real estate sector have been eagerly anticipating the realization of the Real Estate Investment Trust (REIT) vision. A REIT is a publicly-listed stock corporation that owns income-generating real estate assets, such as… Read More
BOC-Dumaguete earnings reach P2.3-B
June 18, 2019, 12:16 pm
DUMAGUETE CITY – With still six months before the end of the year, the Bureau of Customs (BOC) sub-port office here has already collected more than PHP2.3 billion, mostly from importation duties and taxes. The amount represents about 60 percent of the office’s target collection for 2019 pegged… Read More
ICTSI secures bid for Port of Kribi
June 17, 2019, 9:24 pm
MANILA -- The International Container Terminal Services Inc. (ICTSI) has been declared as the preferred bidder for the development, operations and management of the Port of Kribi in Cameroon for 25 years. “On 14th of June 2019, ICTSI has been declared preferred bidder for the concession of the… Read More
Megaworld eyes REIT offering for townships, other projects
June 17, 2019, 9:07 pm
MANILA -- Property developer Megaworld Corporation is set to launch six more townships between now until next year, as it eyes a real estate investment trust (REIT) offering of its townships. Megaworld chief strategy officer Kevin Tan said the company is studying REIT and is “carefully… Read More
PCC OKs Japanese firm’s acquisition of Mitsubishi finance firm
June 17, 2019, 9:06 pm
MANILA -- The Philippine Competition Commission (PCC) has approved the acquisition by Japanese consumer finance firm JACCS Co. Ltd. of the shares of Mitsubishi Motors’ financing firm MMPC Auto Financial Services Corporation (MAFS). The proposed transaction involves the buyout by JACC of shares… Read More
Local markets down on profit-taking
June 17, 2019, 8:35 pm
MANILA -- The Philippine Stock Exchange index (PSEi) ended Monday in the red due to sustained profit-taking, which also affected the local currency. The PSEi slipped to 7,908.99 points, down 1.02 percent or 81.21 points, which Regina Capital Managing Director Luis Limlingan traced to “continued… Read More
Globe partners with 2 telco infra firms for common towers
June 17, 2019, 8:06 pm
MANILA -- Globe Telecom has partnered with ISOC Infrastructure Inc. and Malaysia-based edotco Group Sdn Bhd. for the sharing of cell sites and other communication infrastructures in support of the common tower policy of the Department of Information and Communications Technology (DICT). This was… Read More
T-bill rates decline anew
June 17, 2019, 7:28 pm
MANILA – The rates of Philippines Treasury bills (T-bills) declined by as much as 10 basis points Monday, still on robust demand and rate hike expectations in the near term. The average rate of the 91-day paper fell to 4.453 percent from week-ago’s 4.555 percent, the 182-day to 4.856 percent… Read More
Wilcon to spend P10.8-B for store network expansion
June 17, 2019, 6:45 pm
MANILA -- Home improvement and construction supply retailer Wilcon Depot Inc. will be spending about PHP10.85 billion to bring its total store network to 100 by the year 2025, to boost sales growth amid a robust economy and government’s infrastructure push. William Belo, founder and chairman… Read More
PRRD signs EO maintaining 5% tariff on mechanically deboned meat
June 17, 2019, 5:46 pm
MANILA -- President Rodrigo R. Duterte has signed Executive Order No. 82, which maintains the 5 percent tariff on mechanically deboned meat (MDM) of chicken and turkey and their offals. The new EO, signed on June 13, 2019 amends EO No. 23 signed by the President in 2017, wherein concessionary… Read More
NWRB warns of possible water interruptions as Angat level dips
June 17, 2019, 5:14 pm
MANILA -- Despite the announcement of the Philippine Atmospheric, Geophysical and Astronomical Services Administration (PAGASA) that the rainy season is officially here, the National Water Resources Board (NWRB) on Monday warned that Angat Dam's water may reach critical level by the end of this… Read More
Auto industry zooms with double-digit sales growth
June 17, 2019, 5:12 pm
MANILA -- Driven by the continued strong sales of commercial vehicles (CV) and the rebound of passenger cars (PC), the local auto industry saw its May 2019 sales surge by 20.2 percent versus the previous month, and 1.2 percent higher than same period last year. According to the joint report by the… Read More
'Modest' oil price hike set Tuesday
June 17, 2019, 2:23 pm
MANILA -- Local pump prices are set to go up slightly on Tuesday, giving motorists a “dose of reality” following a big-time rollback last week. This, amid a very volatile international crude market, which has oil industry observers scratching their heads as to what direction prices are headed.… Read More
Cebu biz name reg’n tellers’ holiday on June 19
June 16, 2019, 4:51 pm
CEBU CITY -- The Department of Trade and Industry (DTI) Cebu provincial office’s Cebu Negosyo Centers will hold a business name (BN) teller holiday on Wednesday, as it encourages the use of its end-to-end registration facility. In a statement, DTI-7 said the BN teller holiday is aimed to promote… Read More
PH rum remains world's favorite for two consecutive years
June 16, 2019, 12:15 pm
MANILA -- Tanduay, a 165-year-old Filipino brand, remains number one in the rum category for two years now following the latest reports from Drinks International. In a press briefing on Saturday, Lucio Tan Jr., president and chief operating officer of Tanduay Distillers, Inc., said the title is a… Read More
BOC-Cebu posts P123-M surplus collection for May
June 15, 2019, 4:47 pm
CEBU CITY -- Despite the two holidays this month, the Bureau of Customs (BOC) Port of Cebu on Friday said its revenue collection for June is on track, as it underscored the May surplus collection of PHP123.41 million. BOC-Cebu Collector Elvira Cruz said the port posted a collection of PHP3.06… Read More
