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Makati City
Thursday, April 27, 2017
THE payment unit of the Manila Electric Co. (Meralco) is expected to close a deal next month for the disposal of a 5-percent stake to Japan’s leading integrated payment-solution provider Densan System Co. Ltd. Meralco Senior Vice President and Chief Finance Officer Betty Siy-Yap said, “A new milestone is close to...
THE National Grid Corp. of the Philippines (NGCP) reiterated on Thursday its willingness to partner with the government in a plan to tap the former’s vast cable network in delivering high-speed Internet service. “Talks began even during the past administration. As early as 2012, we were already exploring the broadband potential of...
It is now mandatory for banks, financial institutions and their clients to employ so-called multifactor authentication systems when transacting online as countermeasure in a feared surge of cyber attacks in the country. This was learned from the Bangko Sentral ng Pilipinas (BSP), which put out a statement on Thursday reiterating...
Even before the delegates and participating business leaders of the ongoing Asean Summit arrived in Manila, the chairman of the US-Asean Business Council warned his contemporaries about a worrisome trend in the insurance industry. Evan Greenberg, who concurrently heads the world’s largest property and casualty insurance company, wrote a public...
The Bank of the Philippine Islands (BPI) has widened its financial-literacy education program for social entrepreneurs to help boost the range of its credit sources in the country. This year the BPI Sinag Foundation also extended its partnership with academic institutions and nonprofit groups, and then assesses the impact of...
The Sun Life Asset Management Co. Inc. (Slamci) has exceeded its target assets under management (AUM) for the year of only P53 billion by some P4 billion to P57 billion instead as more investors shifted to money market funds in the first four months. According to Slamci President and CEO...
Southeast Asian leaders will express serious concern over territorial disputes in the South China Sea when they gather in an annual summit in Manila this week, but a draft of a communiqué to be issued at the end of the meeting indicates they will adopt subdued language on a...
The joint team of the Bureau of Fisheries and Aquatic Resources (BFAR) and the National Bureau of Investigation (NBI) stopped the illegal sale of assorted corals and other prohibited species in Cartimar, Pasay City. A total of 3,788 pieces of both hard and soft corals, coral stones and pebbles were...
An international human- rights watchdog is calling on Southeast Asian leaders to take a stand against the Philippines’s war on drugs that has left thousands dead under President Duterte, the host of this week’s regional summit. Amnesty International (AI) said leaders of the 10-member Asean must consider whether the killings...
THE Manila Electric Co. (Meralco) has received offers from four interested firms willing to take in a minority stake in an ambitious coal-power project costing P135 billion. “Yes, Meralco has taken proposals,” said Meralco Chairman Manuel V. Pangilinan. “There’s a final list of four interested firms that are a mix...
LOPEZ-LED First Gen Corp. has formally expressed interest to partner with state-run Philippine National Oil Co. (PNOC) for the development of a liquefied natural gas (LNG) terminal. “First Gen acceded to be a minority partner. That I can tell you, but not the details. They have been attending our negotiations. They...
CHINESE tech giant Huawei is keeping tab on the Philippines as it seeks to replicate here the level of its hold of the smartphone business overseas. “We succeeded in 2016 in modern cities in foreign countries to have more than 15 percent of market share. Hopefully, we can do the...
The government said on Wednesday it has initially set aside a budget of P111 million for the expansion of the fish port in Bulan, Sorsogon, to attract more investors in the area. The Philippine Fisheries Development Authority (PFDA) said the improvements planned for the Bulan Fish Port Complex will be...
GENERAL SANTOS CITY ­—In a bid to enhance its services for the thriving local fishery industry, the city government is working on the creation of a fisheries division under the City Agriculture Office (CAO). City Councilor Brix Tan, chairman of the city council’s committee on fisheries, marine life and...
Customs and revenue officials have haled real-estate developer New San Jose Builders Inc. (NSJBI) to court, allegedly for smuggling and failure to pay tax on taxable building materials worth more than P1 billion due the government. Such materials, Bureau of Customs (BOC) and Bureau of Internal Revenue (BIR)  officials said,...
The Metropolitan Bank and Trust Co. (Metrobank), second largest by assets, on Wednesday projected loans growing faster than 23 percent this year on the basis of a fast-expanding agribusiness sector and greater purchasing power in the countryside. This was learned from executives meeting financial reporters, who remained confident of exceeding...
The Advertising Foundation of the Philippines (Ad Foundation), in partnership with the Kapisanan ng mga Brodkaster ng Pilipinas (KBP) and Unilever Philippines Inc., recently hosted top executives from event management organizers composed of clients, service providers, media agencies, government and other stakeholders gathered in an exclusive two-day seminar at...
When I came on board the Association of Development Financing Institutions in Asia and the Pacific (ADFIAP) in 1991 as its deputy secretary-general and, later in 2005, as its secretary-general, I thought this job was a “walk in the park”. I was wrong, 100 percent! Fast forward to 2017: I...
Thailand’s government has approved the purchase of its first submarine in more than half a century, the country’s top defense official said on Tuesday, calling the $393-million deal with China necessary and a bargain. Defense Minister Prawit Wongsuwan said the navy’s purchase of a Yuan Class S26T submarine would be...
Singapore is creating a S$1-billion ($718-million) fund to help innovative companies develop their businesses and expand overseas, part of the city-state’s drive to boost economic growth. The Makara Innovation Fund—a collaboration between the Intellectual Property Office of Singapore (IPOS) and local private equity firm  Makara Capital Partners Pte. Ltd.—will invest S$30...
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