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Megawide profit plunges 50% as construction contracts fall

MEGAWIDE Construction Corp.’s net income plunged 50% in the first quarter amid a drop in construction contract revenues.

Xurpas posts P71-M loss as mobile business slows

XURPAS, INC. trimmed its losses in the first quarter as it boosted its enterprise business and recorded lower costs and expenses during the three-month period.

PPA says strong port activity helped it generate P9.41 billion

THE Philippine Ports Authority (PPA) said it remitted a total of P9.41 billion in dividends and taxes to the national government in 2018, a record remittance fueled by strong revenue growth during the year.

NAIA consortium rehab proposal elevated to NEDA

THE SUPER consortium’s proposal to rehabilitate the Ninoy Aquino International Airport (NAIA) is now with the National Economic and Development Authority (NEDA), the Department of Transportation (DoTr) said.

DoubleDragon unit CityMall signs deal to lease rooftops to cell tower...

DOUBLEDRAGON Properties Corp. subsidiary CityMall Commercial Centers, Inc. has agreed to lease its mall rooftops to common tower provider ALT Global Solutions, Inc. which proposes to build a network of cellular wireless towers.

Cebu Pacific ‘sternly warned’ over spate of flight cancellations

THE CIVIL Aeronautics Board (CAB) will not penalize Cebu Pacific for its spate of flight cancellations in two weeks from end-April to early May, but is requiring the budget carrier to submit a concrete plan of action to prevent recurrence of the problem.

GMA to launch DTT device by 2nd half

GMA NETWORK, Inc. said it will be launching a digital terrestrial television (DTT) device this year, which will allow users to stream its free-to-air shows through mobile phones.

Political ads boost ABS-CBN Q1 bottom line

EARNINGS of ABS-CBN Corp. soared 89% in the first quarter, as revenues got a boost from political ad placements.

Firms urged to future-proof vs cyber risks

AS THE Philippines saw a quick rise in cybersecurity awareness and data protection efforts in recent years, companies are now urged to look far ahead to prepare for newer threats that are expected to come in three to five years time.

20 new lanes to be constructed at SCTEX toll plazas

TWENTY NEW lanes are set to be added at the toll plazas of the Subic-Clark-Tarlac Expressway (SCTEX), operator NLEX Corp. announced on Wednesday.

MPIC still interested in MRT-3 O&M concession

THE Metro Pacific group said it remains interested in investing in the Metro Rail Transit Line 3 (MRT-3), after the government said earlier this month that it wants the private sector to come in for the operations and maintenance (O&M) of the train line.

ICTSI Ecuador unit docks first 10,000-TEU capacity vessel

THE Ecuador subsidiary of International Container Terminal Services, Inc. (ICTSI) handled its first container vessel of 10,000-twenty foot equivalent unit (TEU) capacity at the Port of Guayaquil, ICTSI said

MPTC plans to submit proposal for NLEx extension to Bataan

THE extension of the North Luzon Expressway (NLEx) to Bataan, also called Phase 3 of the north toll road project, is seen to move forward this year with the planned submission of a proposal to the Toll Regulatory Board (TRB).

Eastern Communications to invest P850M to expand network coverage

TELECOMMUNICATIONS firm Eastern Communications said it is investing P850 million this year to expand its network coverage.

MPTC on the lookout for opportunities in SE Asia

METRO PACIFIC Tollways Corp. (MPTC) remains on the lookout for opportunities to expand its presence in the Southeast Asian countries where it currently has tollroad investments, as the company continues its plans to create a pan-ASEAN tollway network.

PAL operator trims loss in Q1 as fuel costs decline

AFTER a challenging 2018, local airlines are showing signs of recovery, with both Philippine Airlines (PAL) and Cebu Pacific recorded a growth in passenger volume during the first three months of 2019.

DoTr, Angkas to pilot test motorcycle taxis

THE Department of Transportation (DoTr) will be working with Angkas in a pilot test that will allow motorcycle taxis to temporarily operate in select areas across the country.

Chelsea 1st quarter income rises 21%

EARNINGS of Chelsea Logistics and Infrastructure Holdings Corp. jumped by 21% in the first three months of the year, driven by robust revenues from its logistics business.

Swiss challenge for CTBEx seen before end-2019

THE Metro Pacific Tollways Corp. (MPTC) said it is expecting to conduct the Swiss challenge for the Cavite-Tagaytay-Batangas Expressway (CTBEx) project before the year ends.

Earnings of ICTSI surge by 77% in January-March

INTERNATIONAL Container Terminal Services, Inc. (ICTSI) reported higher earnings in the first quarter, driven by an increase in revenues from its improved performance in its operations in Melbourne, Australia and Buenaventura, Colombia.

DoTr expects to submit NAIA rehab proposal to NEDA by next...

THE DEPARTMENT of Transportation (DoTr) hopes to submit the proposal of the so-called “super consortium” to rehabilitate the Ninoy Aquino International Airport (NAIA) to the National Economic and Development Authority (NEDA) by next week.

Search for PLDT president, CEO continues

PLDT, Inc. Chairman Manuel V. Pangilinan said the search for a new president and chief executive officer (CEO) may take longer.

Construction cost in Manila remains inexpensive — global index

THE cost of construction in Manila remains relatively inexpensive, according to a global index of construction costs by consultancy firm Arcadis.

ICTSI gets go signal to hike stake in MNHPI

INTERNATIONAL Container Terminal Services, Inc. (ICTSI) said Wednesday it has secured all approvals needed to increase its stake in Manila North Harbor Port, Inc. (MNHPI).

Aboitiz Group endows new AIM institute

THE ABOITIZ GROUP said Wednesday it is donating P500 million to the Asian Institute of Management (AIM) to support the growth of data science and innovation in the Philippines.

Construction of LRT-1 Cavite extension gets under way; partial operations by...

THE extension of the Light Rail Transit Line 1 (LRT-1) to Cavite is seen to benefit passengers by as soon as the fourth quarter of 2021, as construction began on the project on Tuesday — nearly five years after it was awarded to the Light Rail Manila Corp. (LRMC).

New stores lift Metro Retail Q1 bottom line

METRO RETAIL Stores Group, Inc. (MRSGI) grew its net income by 65% in the first quarter, after it resumed operations of its Cebu-based store and opened additional stores.

Results of probe into Cebu Pacific for flight cancellations due Friday

THE Department of Transportation (DoTr) said it hopes to receive a report by late this week detailing the findings of an investigation into Cebu Pacific, amid ongoing hearings by the Civil Aeronautics Board (CAB) on the carrier’s recent spate of flight cancellations.

Data drives Globe profit higher in 1st qtr

EARNINGS of Globe Telecom, Inc. rose 44% in the first quarter, on strong revenues from sustained increase in data usage by mobile and home broadband subscribers.

HyalRoute Group to invest $1-2 billion in PHL venture

THE Department of Information and Communications Technology (DICT) signed a deal with the local subsidiary of Singapore-based HyalRoute Group last week to roll out a fiber optic cable network in the country.

Zamora partners with Chinese firm for WiFi, digital TV

BUSINESSMAN Salvador B. Zamora II, who chairs listed Philippine Telegraph and Telephone Corp. (PT&T), signed a memorandum of understanding (MoU) with Chinese firm CITIC Networks Co. Ltd. to offer WiFi internet access, digital television and satellite network services in the Philippines.

DoTr still wants private firm to take over MRT-3

THE Department of Transportation (DoTr) said it will continue to seek a private company to take over the operations and maintenance (O&M) of the Metro Rail Transit Line 3 (MRT-3), once the new Japanese contractors finish the rehabilitation of the railway system in two years.

Aviation regulator starts hearings on Cebu Pacific issues

THE CIVIL Aeronautics Board (CAB) is asking Cebu Pacific operator Cebu Air, Inc. to submit additional requirements as the regulator on Thursday conducted its first formal hearing on the carrier’s recent wave of flight cancellations.

Panlilio set to return to PLDT group

PLDT, Inc. and its wireless unit Smart Communications, Inc. announced on Thursday that Alfredo S. Panlilio will be returning in July as its chief revenue officer.

AirAsia Philippines still keen on IPO this year

PHILIPPINES AirAsia, Inc. is hoping to pursue its plan to undergo public listing in the local bourse before the year ends.

Prime Infra hopes to get go signal for Wawa project next...

PRIME Metroline Infrastructure Holdings, Inc. (Prime Infra) of tycoon Enrique K. Razon, Jr. is expecting the government’s green light for its plan to develop the Wawa Dam in Rizal.

AirAsia Philippines swings to net operating loss in 2018

THE PHILIPPINE UNIT of the AirAsia Group Berhad, Philippines AirAsia, Inc., swung to a net operating loss of P2.11 billion in 2018 from a profit of P710 million in 2017 as it was hit by the rise in price of jet fuel and the weakening of the Philippine peso against the US dollar last year.

Bubble tea fuels Grab’s food delivery business

THE craving for bubble tea is fueling Grab’s food delivery business as it said the number of orders for the sugary drink in the Philippines grew 3,500% from June to December last year.

Lenovo launches new gaming devices

HONG KONG-based technology firm Lenovo will start offering new gaming devices under its Legion brand this month.

Gov’t sees boost in MRT-3 speed, trains after turnover

THE GOVERNMENT expects a boost in speed and number of train sets running for the Metro Rail Transit Line 3 (MRT-3) as it officially turned over the rehabilitation and maintenance of the train line to its original designers in a ceremony Tuesday night.

Cebu Pacific cancels more flights

CEBU PACIFIC on Tuesday said it is canceling around ten flights a day this month, as part of efforts to streamline its operations.

Airlines scale down flights to Boracay

AS the government limits the number of tourists to Boracay island, some local airlines are looking at other tourist destinations to drive passenger growth this summer.

Super consortium’s amended NAIA proposal under review

THE Department of Transportation (DoTr) said it is now reviewing the new draft agreement submitted by the super consortium seeking to rehabilitate the Ninoy Aquino International Airport (NAIA) Monday.

Batangas Container Terminal increases its annual capacity with new berth

ASIAN Terminals, Inc. (ATI) inaugurated a new berth at the Batangas Container Terminal (BCT) Monday, which is eyed to increase its annual capacity and eventually help decongest ports in Manila.

Grab cracks down on ‘excessive’ cancellations

GRAB Philippines (MyTaxi.PH, Inc.) said it will start imposing penalties on passengers and drivers for excessive cancellations of booked rides.