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Yearly Archives: 2019

PHL telcos seen to sustain revenue growth this year

FITCH Ratings expects the two major telco companies in the Philippines to book mid to high single-digit revenue growth for full year 2019, amid stabilizing competition between the two players.

LIPAD takes over operations of Clark airport

LUZON International Premier Airport Development Corp. (LIPAD) on Friday formally took over the operations and management of the Clark International Airport.
Leila M. De Lima

De Lima co-accused arrested, claims he is police asset

AFTER two years on the run, one of Senator Leila M. De Lima’s co-accused on an illegal drug charge was captured on Friday by the National Bureau of Investigation (NBI) but claimed he was a police asset during the occurrence of the alleged crimes.
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12 arrested for investment scams

THE Securities and Exchange Commission (SEC), together with the National Bureau of Investigation (NBI), has arrested 12 people who are allegedly involved in investment scams.

Defense Chief annoyed over presence of Chinese navy in PHL waters

DEFENSE Secretary Delfin N. Lorenzana on Friday expressed his annoyance over the continuous presence of Chinese warships in Philippine waters.

PAO lawyers denounce anonymous report to Ombudsman

OVER A hundred lawyers under the Public Attorney’s Office (PAO) said that a recent report of PAO lawyers calling for the suspension of PAO Chief Persida V. Rueda-Acosta was part of a “demolition job” meant to malign the PAO.

Tourism industry earned P245 billion in first half

THE tourism industry earned some P245 billion during the first semester of 2019, according to the Department of Tourism (DoT).

COA nixes Aviation Authority’s insurance investment

THE Commission on Audit (CoA) flagged a Civil Aviation Authority of the Philippines (CAAP) insurance investment saying it was done without approval of the Board members and without adequate criteria for the selection 10 insured officers.
rice grains

ACPC approves P1.5-B funding for SURE Aid

THE Agricultural Credit Policy Council (ACPC) has approved P1.5 billion in funding for the expanded Survival and Recovery Assistance Program for Rice Farmers (SURE Aid).

Ayala unit launches P16-B One Vertis Plaza

THE luxury residential unit of Ayala Land, Inc. (ALI) is venturing into its first office-for-sale project with the launch of the P16.1-billion One Vertis Plaza in Quezon City.

KKR, Blackstone among bidders for stake in MPIC hospital unit

SINGAPORE — Buyout firms KKR, Blackstone and CVC are among bidders competing for a stake in the hospital unit of Philippines’ Metro Pacific Investments Corp. (MPIC), people with knowledge of the matter told Reuters.
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Crown Asia profit rises by 53% in Q2

CROWN Asia Chemicals Corp. reported a 53% increase in its net income in the second quarter, driven by improved infrastructure operations, higher sales, and wider market reach.

Bill seeks regulation of ATM transaction fees

THE Bayan Muna Party-list has refiled a bill regulating fees and charges on transactions done via automated teller machines (ATM).
1000 peso bills

Peso gains ground on upbeat US data

THE PESO ended stronger on Friday as traders took profit after favorable July retail sales data from the United States.
PSE

Local stocks continue slump

THE main index continued its descent for the second day on the back of lingering fears of an looming recession in the United States.

How logistics keeps the world turning

If business and enterprise is the beating heart of an economy, then logistics is the lifeblood. Just as blood transports nutrients to different parts...

Technological innovations that are remaking the logistics industry

Disruptive technological forces are reshaping the logistics industry in ways that are profound and unprecedented. And industry players, faced with the constant challenge of...

Possibilities in a disrupting logistics sector

Logistics continues to be foreseen as a thriving industry in the Philippines. In a report by Ken Research, a global aggregator and publisher of...

Connecting countries with improved logistics

In today’s modern world, international trade contributes significantly to the growth of the global economy that promotes progress and prosperity across countries, down to...
OFW

June remittances smallest in 9 months

MONEY SENT HOME by Filipino workers abroad slipped for the first time in 10 months and marked the worst performance in a year, according to data the central bank released on Thursday.

Overseas Filipinos’ cash remittances (June 2019)

MONEY SENT HOME by Filipino workers abroad slipped for the first time in 10 months and marked the worst performance in a year, according...
shovel

Data show state offices catching up with spending plan

SPENDING CATCH-UP was under way as of July, according to data the Department of Budget and Management (DBM) released on Thursday, as state offices moved to make up for subdued expenditures for much of last semester due to the four-month delay in enactment of this year’s national budget.

Bills cutting corporate income tax, raising alcohol levy to advance in next two weeks

THE BILL reducing the corporate income tax and streamlining fiscal incentives will likely be approved on second reading in the House of Representatives in two weeks, the head of the chamber’s Ways and Means committee said on Thursday.

Air fares poised to drop in next 2 months

AIR FARES are set to go down next month as the aviation regulator reduced the allowable fuel surcharge that airlines may implement for September and October.

GT Capital Q2 income up as auto sales rise

GT Capital Holdings, Inc.’s attributable profit grew 15% in the April to June period, on the back of higher revenues from its auto unit and increased contributions from its associates.

Megaworld eyes P12 billion in sales from Pasig residential condominium

MEGAWORLD Corp. is aiming to generate P12 billion in sales from three residential towers in its Arcovia City township in Pasig City.

Power sales fuel First Gen Q2 profit surge

FIRST GEN Corp. increased its net income attributable to equity holders of the parent firm by 87.4% to $84.67 million in the second quarter, as the Lopez-led company recorded a strong growth in its power sales.
Filinvest Mimosa+

Filinvest Dev’t earnings dip in 2nd quarter as costs climb

FILINVEST Development Corp. (FDC) saw a slight decline in its attributable profit for the second quarter, as higher costs outpaced the single-digit increase in revenues.

Travellers sets tender offer at P5.50 per share

TRAVELLERS International Hotel Group, Inc. (TIHGI) has priced the tender offer for its voluntary delisting process at P5.50 per share, less than half the offer price when it debuted at the stock market about six years ago.

Cebu Landmasters books P256-million profit in Q2

CEBU Landmasters, Inc. (CLI) booked a 6% decline in attributable profit for the second quarter of 2019, as most of the projects completed for the period were part of joint ventures.

Titas are the focus of new TV show

ACTRESSES Joanna Ampil, Angelica Panganiban, Cherry Pie Picache, Lorna Tolentino, Agot Isidro, and Mylene Dizon all agree that there is more to being a tita (aunt) — in this case referring to middle class, middle-aged, urban aunts — than work meetings, yoga sessions, salon appointments, tea time. The actresses star in the new iWant original series, Call Me Tita.
GMA-ABSCBN

Media giants ABS-CBN, GMA report mixed results

LISTED television networks reported mixed financial conditions in the second quarter, as ABS-CBN Corp.’s profit soared 75% while earnings of GMA Network, Inc. fell 22%.

BPI eyeing fresh dollar bond issuance this year

AYALA-LED Bank of the Philippine Islands (BPI) will remain “opportunistic” in tapping the dollar bond market this year for its funding requirements, a senior bank official said on Thursday.

Mayonnaise ready to spread its music with 2nd concert

AFTER a sold-out concert in June, Filipino rock band Mayonnaise is reprising its Akalain Mo ’Yun concert in September due to insistent public demand, according to the band’s frontman.

Anne Curtis Smith goes sexy again in Just a Stranger

ANNE CURTIS Smith-Heussaff is returning to her roots as a sexy, romantic drama actress in Jason Paul Laxamana’s Just a Stranger, a film about infidelity and its consequences. The film hits theaters nationwide on Aug. 21.

Healthy sales push SSI’s Q2 earnings 17% higher

SSI GROUP, Inc. (SSI) reported its second-quarter earnings increased by 16.6% to P175.3 million, thanks to “healthy” top-line growth from its luxury and casual brands.

Philippine Bank of Communications posts higher Q2 net income

PHILIPPINE BANK of Communications (PBCom) and its subsidiaries booked higher earnings in the second quarter on higher income from service charges, fees and commissions and a recovery in trading gains.
Doubledragon

DoubleDragon income surges in April-June

DOUBLEDRAGON Properties Corp. reported a 240% increase in its attributable net income in the second quarter, driven by rising rental revenues from its office towers, warehouse hubs and community malls.

Moonshine

THE FILM starts out as a fevered dream: oddly warped feet walking across the screen, their steps spreading outwards like a malignancy; the camera shifts and we realize we’re looking at water reflections of three men’s legs crossing a concrete floor. For some reason your eye focus on the leading man’s hands: they hang down from limp heavily resigned arms. Why?

Deutsche Bank chair searches for successor

DEUTSCHE BANK AG Supervisory Board Chairman Paul Achleitner is searching for his successor after overseeing a tumultuous period marked by multiple restructurings, top management changes and a slumping share price.
Ramon M. Lopez

DTI seeking to add pension portability to anti-endo bill

THE TRADE DEPARTMENT is seeking to add provisions to the Security of Tenure (SoT) bill making workers’ pensions portable when they transfer jobs, Secretary Ramon M. Lopez said.

What to see this week

6 films to see on the week of August 16 — August 22, 2019
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Seaoil PHL weighs impact of US-China trade war on expansion plans

SEAOIL Philippines, Inc. is weighing the impact of the trade war between the US and China and how it will affect the independent oil company’s expansion plans next year, company officials said.

Japan’s NYK Line sets up e-money service for seafarers

JAPANESE shipping firm NYK Line said it sets up an e-money platform targeted at Filipino seafarers along with a local partner.

Jobs boon at risk as RBA warns firms vs turning glum

SYDNEY — As the Sino-US trade war raise fears of a global recession, businesses run the risk of being caught in a self-fulfilling vicious cycle, a top Australian central banker warned on Thursday, threatening the country’s sturdy jobs market.