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Romero ups stake in AirAsia PHL operator ahead of planned IPO

THE Romero-led F&S Holdings, Inc. increased its stake in the operator of Philippines AirAsia, Inc. to become the single largest shareholder in the low-cost carrier ahead of its planned initial public offering (IPO) later this year.

Philippine Airlines, PALEA sign collective bargaining agreement

PHILIPPINE Airlines (PAL) and its labor group PAL Employees Association (PALEA) inked a five-year collective bargaining agreement (CBA) that provides for “enhanced employment terms” for the latter’s members.

Velarde’s Now Telecom plans to offer 5G services

NOW TELECOM Co., Inc. said Monday it is planning to offer fifth-generation (5G) services in the country, in order to keep up with telecommunications giants PLDT, Inc. and Globe Telecom, Inc.

Grab may deactivate 8,000 drivers

GRAB Philippines (MyTaxi.PH, Inc.) said Monday it may have to deactivate “at least” 8,000 vehicle providers from its platform next week, as they failed to comply with regulations set by the Land Transportation Franchising and Regulatory Board (LTFRB).

₱300-M cybersecurity center going up for bid

THE Department of Information and Communications Technology (DICT) said it will be offering to bidders a project to build a Cyber Training Facility as part of the government’s National Cybersecurity Plan.

AirAsia Philippines adds flights to Taiwan in Aug.

AIRASIA Philippines will start adding new routes to link the Philippines with southern Taiwan by August.

JG Summit plans 28% capex rise focused on petrochemical, airline expansion

JG Summit Holdings, Inc. is increasing its capital expenditures (capex) this year, banking on a growing economy in expanding its petrochemical, airline, property, food and beverage and banking businesses.

SEC approves AEV shelf registration for P30-B worth of bonds

ABOITIZ Equity Ventures, Inc. (AEV) has obtained approval from the Securities and Exchange Commission (SEC) to offer to the public P30 billion worth of fixed-rate bonds.

DMCI Power sales jump 20% in Q1

DMCI Power Corp. reported a 20% rise in sales in the first quarter, driven by an increase in energy demand from its three electric cooperatives in Oriental Mindoro, Palawan and Masbate.

Robinsons Retail still rationalizing RSCI stores

ROBINSONS Retail Holdings, Inc. (RRHI) is looking to rationalize the store network of Rustan Supercenters, Inc. (RSCI)

LBC sells QuadX to subsidiary

LBC Express Holdings, Inc. said it is selling its shares in QuadX, Inc. to a subsidiary as part of a plan to refocus the e-commerce firm’s strategy.

ACCA pushes improvements to country’s cloud-first policy

THE Asia Cloud Computing Association (ACCA) released on Monday a white paper that proposes fine-tuning of the Philippines’ cloud-first policy, as it said it sees potential in the country to advance the movement of the public sector to the cloud.

First Gen, Tokyo Gas start LNG work in race to beat...

FIRST GEN Corp. broke ground on Tuesday at the site of its liquified natural gas (LNG) terminal in its Clean Energy Complex in Batangas City, which it hopes to get operational before the Malampaya gas field is depleted in 2024.

Smart to expand LTE coverage in Palawan

THE wireless unit of PLDT, Inc., Smart Communications Inc., is ramping up its long term-evolution (LTE) network in Palawan as it sees increased tourism in the island.

CAAP turns over P3.5 billion in dividends to national government

THE Civil Aviation Authority of the Philippines (CAAP) said it turned over to the national government its highest dividend in history in 2018, as it increased its net income after the installation of a Communications, Navigation, Surveillance / Air Traffic Management (CNS/ATM) system last year.

DoTr to award PNR Bicol contract before yearend

THE Department of Transportation (DoTr) is targeting to secure a contractor for the China-funded Philippine National Railways (PNR) South Long-Haul Project, also known as PNR Bicol, before the year ends.

Maynilad allots P16.8 billion for expansion projects this year

MAYNILAD Water Services, Inc. is setting aside P16.8 billion for capital expenditures this year, focusing mainly on wastewater projects in the west zone concession area.

Grab PHL sees strong growth of food delivery service

GRAB PHILIPPINES (MyTaxi.PH, Inc.) said it has seen robust growth for its food delivery service, Grab Food, in the last six months.

Transport dep’t bares plans to privatize Port of CdO terminal

THE Department of Transportation (DoTr) is looking to privatize the operations of several facilities in the remaining three years of the Duterte administration, starting with the passenger terminal building of the Port of Cagayan De Oro.

Globe stands firm on Huawei partnership

GLOBE TELECOM, Inc. said it will continue to partner with Huawei Technologies Co., Ltd., including on the establishment of a fifth-generation (5G) network in the country, despite the United States placing the Chinese tech giant on a trade blacklist last week.

Third telco player Mislatel hopes to get permit to operate from...

INCOMING third telecommunications player Mislatel consortium said it is expecting to receive the permit to operate from the National Telecommunications Commission (NTC) by July, as it currently prepares for the submission of its performance bond to the government.

Employee readiness key to digitalizing business

A KEY consideration for companies embarking on a digital transformation is finding a platform that people will easily adapt to, as employees are said to be the most important element in digitalizing a business’ operations and systems.

Tech logistics start-up eyes Singapore expansion

TECHNOLOGY logistics start-up Shiptek Solutions Corp. is setting sights on expanding to Singapore by late this year to early next year. This as the company officially welcomed on Wednesday Union Bank of the Philippines, Inc. as a strategic investor.

Tunneling work on Metro Manila subway to start next year

TUNNELING work on the Metro Manila Subway Project is not expected to begin until next year, but the Department of Transportation (DoTr) is already considering bidding out to real estate developers the soil and rock that will be excavated.

Privacy watchdog probes erring online lending apps

THE NATIONAL PRIVACY COMMISSION (NPC) has begun looking into 48 online lending applications that have been subject to almost 500 harassment complaints.

MPTC inks deal with Japanese tollway firms

METRO PACIFIC Tollways Corp. (MPTC) said it recently signed a memorandum of understanding (MoU) on technical cooperation with three tollway operators from Japan.

MIAA remits P3.4B to national government

THE Manila International Airport Authority (MIAA) said it remitted P3.42 billion in dividends to the national government in 2018, fueled by the higher number of flights, passengers and additional concessions it had last year.

DoTr prepares to award rolling stock contract

THE Department of Transportation (DoTr) is set to award the contract to provide train sets for the Tutuban-Malolos segment of the North-South Commuter Railway (NSCR) project by end-May or early June.

Huawei assures continued security support for Android smartphones

HUAWEI TECHNOLOGIES Co., Ltd. on Monday said it will continue to provide security updates and services for its smartphones and tablets, after Alphabet, Inc.’s Google said it would restrict the Chinese technology giant from updates to the Android operating system.

2GO swings to net loss in first quarter

2GO GROUP, INC. swung to a P291-million loss in the first quarter, as expenses ballooned due to rising fuel and commodity prices.

DICT functions need to be reviewed to clear up overlaps, think...

THE FUNCTIONS and powers of the Department of Information and Communications Technology (DICT) need to be reviewed to improve the department’s effectiveness, according to a study by the Philippine Institute of Development Studies (PIDS).

Tugade ready to take on emergency powers to solve traffic if...

TRANSPORTATION SECRETARY Arthur P. Tugade yesterday said he and his department are ready to accept emergency powers to solve the traffic congestion in the capital if members of the incoming 18th Congress will push for such a measure.

Royal Air expands with new routes

YOUNG homegrown carrier Royal Air Philippines is expanding the number of its commercial flights with routes linking Cebu to Manila, Davao, Puerto Princesa, Cagayan and Caticlan.

Invitations issued to bid for last rail deals in Malolos-Clark line

THE Department of Transportation (DoTr) is seeking bidders for the remaining components of the Malolos-Clark railway, which makes up part of the P777.55-billion North-South Commuter Railway (NSCR) project.

LRTA to investigate train collision

THE Light Rail Transit Authority (LRTA) said it is forming a team to investigate the collision on Saturday evening of two trains on the Light Rail Transit-Line 2 (LRT-2), an accident in which more than 30 were injured.

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.