31 C
Makati City
Thursday, March 23, 2017
WHILE two groups pitching for the development of the Clark International Airport are busy fighting for their “right” as the original proponent of the unsolicited proposal, Metro Pacific Investments Corp. (MPIC) is quietly preparing for its own offer.  MPIC President Jose Ma. K. Lim said that, while his group is...
THE Department of Finance (DOF) is eyeing to establish a subsidiary of the Land Bank of the Philippines (LandBank) in Bahrain to better serve the banking needs of overseas Filipino workers (OFWs) in the area, and improve the trading relationship of both nations. In a recent meeting with members of...
ATLAS Consolidated Mining and Development Corp. said it had a slightly narrower loss last year of P879 million, from the previous year’s P814 million. Excluding a P495-million, one-time provision for loss on disputed input tax credits, the company reported an underlying net loss of P384 million, a 53-percent improvement year-on-year. “The...
DUE to the enormous and growing demand for data, Philippine telecommunications companies have been spending roughly a quarter of their revenues on capital expenditures over the past few years.  Ericsson Philippines and Pacific Islands President and Country Manager Sean Gowran said from 2012 to 2015, local telecom-service providers have been...
LOCAL banking giant BDO Unibank Inc. (BDO) reached its 1,000-branch milestone nationwide this month, after the Sy-led bank opened its latest full-service outlet in Davao City. BDO Senior EVP and Head of Branch Banking Jaime Yu said reaching the milestone affirms their commitment to put up branches in viable areas—both in...
ALORICA, the largest provider of customer-experience solutions to the US market, inaugurates a brand-new $23-million (P1.154-billion) facility in Makati City, which is expected to generate 10,000 new jobs for Filipinos this year. Called the Alorica Center, the commercial-office space is fitted with workspaces to accommodate the company’s growing Philippine work...
SOLAR Philippines said on Tuesday Solar-plus-Storage technology is now cheaper than power sourced from coal. “Without even factoring the environmental externalities, based purely on direct cost, Solar-plus-Storage is already cheaper than coal, and cheaper than diesel and gas,” Solar Philippines President Leandro Leviste said. “We’ll prove that in the market...
PROPERTY developer Vista Land & Lifescapes Inc. (Vista Land) said its net income grew 13 percent to P8.1 billion, from last year’s P7.18 billion, on higher sales of its business units. Vista Land’s leasing business that grew 60 percent to P4.67 billion, from the previous P2.93 billion, came mostly from...
ABS-CBN Corp. is looking at netting as much as P3 billion in profits this year, slightly lower than the P3.5 billion booked in 2016, due to the absence of election-related revenues. Aldrin Cerrado, the company’s CFO, said this year’s forecast comes on the back of an anticipated increase in revenues...
CROWN Asia Chemicals Corp., maker of PVC pipes and fittings, said its net income grew by 14 percent last year to P114.5 million, from P100.15 million in 2015. Its Pipe Group revenues grew by 29 percent to P519.97 million, as project sales accounted for 63 percent of sales. Project sales increased...
PLDT Inc. has developed the country’s “Fibr City” in Cebu, claiming it is a place “where families and enterprises can enjoy world-class Internet connectivity”. Through a partnership with the Toledo City government, the  company’s fiber-to-the-home (FTTH)  program now serves the data-connectivity needs of this fast-growing city with its mining industry...
Three lady sales professionals topped a total of 29 sales associates honored as most outstanding sales producers for 2016 during the Annual Awards of Batangas City Branch, comprised of two parks in Barangay Balagtas and Concepcion. Shown with some company executives are (second from left) Lourdes G. Tidon, third place;...
By May this year, five Go Hotels will operate from five city centers in Metro Manila, marking the expansion of this hotel brand in the country under a new partnership. Frederick D. Go, president of Robinson’s Land Corp., made this announcement as officials of his company and partner Roxaco-Vanguard Hotel...
TRAIN operator Light Rail Manila Corp. (LRMC) is gearing up for the groundbreaking of the multibillion-peso extension of the Light Rail Transit (LRT) Line 1 to Cavite, albeit a little late from the original target, as it waits for the gosignal from the office of President Duterte. Metro Pacific Investments...
DMCI Holdings Inc. on Monday said its off-grid energy unit DMCI Power Corp. posted double-digit sales growth in 2016, with volume reaching 240 gigawatt-hours (GWh), from 212 GWh in 2015. Higher power demand and dispatch across all cooperatives accounted for the 14-percent improvement, the company said. Its higher sales resulted in a...
OIL companies announced on Monday a price rollback of petroleum products effective on Tuesday morning. This is the third consecutive week of price reduction. Pilipinas Shell will reduce gasoline prices by P0.80 per liter, diesel price by P1.10 per liter and P1.20 per liter for kerosene at 6 a.m. of March 21. PTT Philippines and Phoenix Petroleum also announced...
By VG Cabuag and Catherine N. Pillas AYALA Land Inc.’s The 30th shopping mall unit has partnered with ride-hailing app Uber to shuttle commuters from its newest mall in Pasig to destinations in Makati and Taguig. According to the deal, the ride-hailing firm will use its brand Uberhop to service shoppers...
VISAYAS retail giant Metro Retail Stores Group Inc. (MRSGI) reported a 24.3-percent increase in profits for the fourth quarter last year, boosting up the company’s total net income to P789 million for fiscal year (FY) 2016, from P758 million in FY 2015, on the back of its operational initiatives...
THE Laguna Gateway Inland Container Terminal Inc. (LGICT), the dry port container-handling facility of International Container Terminal Services Inc. (ICTSI), in Calamba City, Laguna, has been certified by the Bureau of Customs (BOC) as an authorized Off-Dock Customs Facility (OCF). In a nutshell, the certification allows the dry port to...
THE mobile-data business of Smart Communications Inc. grew by more than a quarter in 2016, with revenues reaching P25.5 billion on the back of increased Internet traffic. PLDT Inc. Chief Revenue Officer Eric R. Alberto attributed the growth to the availability of more affordable smartphones in the market, attractive data...