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NOW Telecom gets 25-year franchise extension amid battle for 3rd telco player

Feb 23, 2018 - 4:48 PM

NOW Telecom is said to be among the groups vying to become the firm’s 3rd major telecommunications player, and it now has privileges similar to those granted to existing dominant players in the industry with the franchise extension

P1-B tax evasion complaint filed vs PH franchisee of Dunkin Donuts

Feb 23, 2018 - 2:07 PM

(UPDATED) The Prieto-owned Golden Donuts, the exclusive Philippine franchisee of Dunkin' Donuts, denies it evaded tax payment and says it had settled the matter with the Bureau of Internal Revenue in 2012

Foreign investment pledges down 51.8% in 2017

Feb 22, 2018 - 10:55 PM

A significant 82.8% drop is recorded in the 4th quarter of 2017 alone, according to the Philippine Statistics Authority

SAN ANSELMO, CA - AUGUST 29: In this Photo Illustration, One and five dollar bills are displayed on August 29, 2017 in San Anselmo, California. The dollar fell to a two and a half year low to 91.77 Tuesday following the latest missile launch by North Korea. The U.S. dollar index has slipped over 10% since the inauguration of U.S. President Donald Trump. (Photo Illustration by Justin Sullivan/Getty Images)

#AskTheTaxWhiz: Withholding tax

Feb 22, 2018 - 8:00 PM

The Philippine Tax Whiz answers questions about withholding tax following the implementation of the tax reform law

BSP Monetary Board member Valentin Araneta dies

Feb 22, 2018 - 7:35 PM

The Bangko Sentral ng Pilipinas will hold a necrological service in his honor on Friday, February 23, at its headquarters

PH Competition Commission approves land, energy joint ventures

Feb 22, 2018 - 4:20 PM

These joint ventures include Ayala Land's partnership with Royal Asia Land to develop a 936-hectare property in Cavite, as well as the plan of Markham and Alternergy for hydropower projects in Ifugao

Broadcom lowers offer for Qualcomm as takeover saga continues

Feb 21, 2018 - 11:26 PM

Broadcom reduces its offer to $79 a share, which would still be the largest-ever deal in the tech sector if completed at an estimated value of nearly $117 billion

NEDA seeks to strengthen trade ties with U.S.

Feb 21, 2018 - 9:30 PM

Philippine Socioeconomic Planning Secretary Ernesto Pernia says there is a need to explore more free trade agreements with the United States to foster investment opportunities

Philippine Airlines' P20-billion NAIA terminal proposal takes a back seat

Feb 21, 2018 - 8:10 PM

This comes after a consortium affiliated with the flag carrier formalized a plan to upgrade and operate the Ninoy Aquino International Airport

SHELVED. PAL shelves plan to build a passenger terminal at NAIA. Photo By Ben Nabong/Rappler

Samsung set to launch new flagship smartphones

Feb 21, 2018 - 7:45 PM

Samsung's launch is on Monday, February 26, PH time

Screenshot from Samsung/Twitter


Italian insurer Generali refocuses on lucrative PH market

Feb 21, 2018 - 6:25 PM

Having focused on niches such as employee benefits and BPOs since its partnership with BDO ended, Generali is now on expansion mode

PH Competition Commission eyes raising threshold for merger review

Feb 21, 2018 - 3:00 PM

The country's antitrust body is reviewing its existing P1-billion threshold, taking into account that inflation hit a 3-year high last January

THRESHOLD. Under Republic Act (RA) No. 10667 – also known as the Philippine Competition Act – the antitrust regulator should be notified for M&A deals with transaction values above P1 billion. Photo of Chairman Arsenio Balisacan from Philippine Competition Commission

Text of revised Trans-Pacific Partnership released

Feb 21, 2018 - 1:51 PM

New Zealand Trade Minister David Parker says making it public will allow better scrutiny before it is formally signed in Santiago on March 8

TRADING BLOC. In this file photo, trade ministers and delegates from the remaining members of the Trans Pacific Partnership (TPP) attend the TPP Ministerial Meeting ahead of the Asia-Pacific Economic Cooperation (APEC) leaders summit in the central Vietnamese city of Danang on November 9, 2017. Na Son Nguyen / Pool / AFP

7% economic growth 'very achievable' this year – BPI

Feb 20, 2018 - 8:50 PM

The Ayala-led bank also predicts the peso will depreciate 3-4% every year until 2021 as the government's infrastructure buildup progresses

NGCP, DICT agree to partner for National Broadband Program

Feb 20, 2018 - 6:55 PM

The fiber optic network of the National Grid Corporation of the Philippines will be used for the program

Philippines' hosting of ADB meeting 'more frugal' in 2018 than in 2012

Feb 20, 2018 - 4:05 PM

The Philippine government earmarks less than P90 million for the hosting of the Asian Development Bank annual meeting in 2018, lower than the P200 million it spent in 2012

Senate OKs treaties vs double taxation with Mexico, Thailand, Sri Lanka

Feb 20, 2018 - 6:03 AM

The Senate also concurs in the ratification of the agreement establishing the ASEAN+3 (Japan, South Korea, China) Macroeconomic Research Office or AMRO

BPO property demand in Philippines seen to rebound, then stay flat

Feb 19, 2018 - 8:25 PM

This is after property demand from the BPO sector dropped by 26% in take-up to 385,000 sqm in 2017, from 485,000 sqm in 2016, says Leechiu Property Consultants

REBOUND. The flattish growth from the BPO sector will be offset by the demand from online gaming and offshore gaming, says Leechiu Property Consultants. Photo by LeAnne Jazul/Rappler

PH gov't releases draft guidelines for 3rd telco auction

Feb 19, 2018 - 7:10 PM

The Department of Information and Communications Technology and the National Telecommunications Commission come up with draft guidelines on the selection of a new major telco player

Dennis Uy's Udenna to challenge PCC decision or file notification

Feb 19, 2018 - 6:10 PM

Udenna is weighing two options – challenge the PCC decision by filing a motion for reconsideration or a court petition, or fulfill the PCC requirement to file a notification of its acquisition

HURDLE. The holding firm of tycoon Dennis Uy is facing an obstacle on its acquisition of a Dutch firm that indirectly holds interest in 2GO. Photo is from Rappler's sit down interview with Dennis Uy on July 12, 2017. Photo by LeAnne Jazul/Rappler

Manila Water expands into Thailand

Feb 19, 2018 - 5:25 PM

The Ayala-led water distributor takes an 18.72% stake in Thailand's East Water which holds concession contracts to operate in 11 locations

South Korea's Moon urges 'stern' response to new U.S. tariffs

Feb 19, 2018 - 4:00 PM

The trade frictions have strained ties at a time when Seoul and Washington are seeking to present a united front against North Korea's nuclear threat

MORE TARRIFS. This file photo taken on January 6, 2016 shows an exhibitor demonstrating an Inverter Direct Drive washing machine at the LG exhibit during the 2016 Consumer Electronics Show in Las Vegas, Nevada. David McNew/AFP

PCC voids merger of Dennis Uy's Udenna with 2GO shareholder

Feb 19, 2018 - 3:09 PM

The holding company of Dennis Uy is also being penalized over P19 million for its alleged failure to notify the Philippine Competition Commission of its merger with a Dutch company, which indirectly holds shares in 2GO's parent firm

FINED AND NULLIFIED. Udenna is being penalized for allegedly violating the notification rule under the Philippine Competition Act. Sit down interview with Udenna Corporation's Dennis Uy on July 12, 2017. Photo by LeAnne Jazul/Rappler

PLDT plans broadband expansion by 2020

Feb 18, 2018 - 10:36 PM

The listed telecommunications giant is spending over P50 billion every year until 2020

DOTr to review P350-billion NAIA rehabilitation proposal

Feb 18, 2018 - 10:05 PM

The Department of Transportation expects to finish its evaluation of the Ninoy Aquino International Airport proposal by top conglomerates in April

REHABILITATION. Passenger traffic to NAIA is expected to continue to grow significantly over the coming years and the existing runway configuration may be unable to accommodate the future flows. Photo By Ben Nabong/Rappler

Oil firms cut prices for 2nd straight time

Feb 18, 2018 - 8:40 PM

The price of gasoline goes down by P1.05 per liter, diesel by P1.25 per liter, and kerosene by P1.20 per liter on Sunday, February 18

OIL ROLLBACK. Motorists gas up at a gasoline station in Paco, Manila on January 10, 2018. Photo by Ben Nabong/Rappler

Coca Cola FEMSA workers: 'Union busting real reason for lay-off'

Feb 16, 2018 - 5:20 PM

Alfredo Marañon, national leader for Federation and Cooperation of Cola, Beverage, and Allied Industry Unions, says that the reason for the lay-off was not discussed properly with union leaders

RETRENCHED. Worker of Coca-Cola Philippines held a press conference on the retrenchment of about 600 employees due to a "change" in business model. Photo courtesy of SENTRO

PH starts 2018 with hot money net inflows of $162M

Feb 16, 2018 - 3:40 PM

The central bank attributes this to investor optimism over the passage of the first phase of the tax reform program, positive corporate earnings, and the expected infrastructure spending this year

BSP cuts banks' reserve requirement

Feb 15, 2018 - 8:10 PM

The reserve requirement ratio for banks is lowered from 20% to 19%, a move seen to free up liquidity for a growing economy

DICT moves deadline for auction of 3rd telco slot

Feb 15, 2018 - 7:35 PM

'If we force the end-of-March deadline, there might not be any bidders,' says the acting chief of the Department of Information and Communications Technology

Customs set to destroy 22 more luxury vehicles

Feb 15, 2018 - 7:08 PM

Consignees of the vehicles, which include Ferraris, Lamborghinis, and Toyota Land Cruisers, have until February 24 to appeal their destruction

DESTROYED. A bulldozer runs over smuggled luxury vehicles at the Port Area in Manila on February 6, 2018. Photo by Simeon Celi/Presidential Photo

PAL eyes Airbus A350-1000 as plane marks 1st touchdown in Manila

Feb 15, 2018 - 6:50 PM

Philippine Airlines, which is undertaking a $2-billion fleet modernization program, says it will consider Airbus' latest wide-body jet

DEMO TOUR. This is amid PAL's over $2-billion fleet modernization program, which would help the airline push its newly acquired 4-star airline status to 5 stars. Photo by Chrisee dela Paz/Rappler

PH remittances beat gov't target, hit record in 2017

Feb 15, 2018 - 6:25 PM

Cash remittances of overseas Filipinos grow by 4.3% to $28.06 billion, while personal remittances grow by 5.3% to $31.29 billion, surpassing the government target of 4%

Alvarez threatens to cancel Cebu Pacific franchise

Feb 15, 2018 - 3:15 PM

'My message to the management of Cebu Pacific is for them to stop looking merely at profit,' says House Speaker Pantaleon Alvarez

ULTIMATUM? Speaker Pantaleon Alvarez wants the airport and airlines to shape up. Photo courtesy of the House of Representatives

Ayala Land net income up 21% in 2017

Feb 14, 2018 - 6:15 PM

The property developer reports a bottom line of P25.3 billion in 2017 compared to the P20.9 billion recorded in 2016

Dipolog Airport resumes operations after removal of Cebu Pacific plane

Feb 14, 2018 - 4:55 PM

(UPDATED) Cebu Pacific says its plane, which had encountered technical difficulties upon landing, has been removed from the runway

Philippine peso weakest in over 11 years

Feb 14, 2018 - 4:45 PM

(UPDATED) Pressured by a record trade deficit, the local currency closes at P52.12 against the US dollar on Wednesday, February 14, its weakest since July 2006

DoubleDragon plans 3.9-hectare industrial hub in booming Iloilo

Feb 14, 2018 - 4:00 PM

With the rising cost of traffic and congestion in Metro Manila, property developers like DoubleDragon are looking at alternative cities to expand their landbank

INDUSTRIAL HUB. DoubleDragon's planned industrial hub in Iloilo will have a capacity of 22,000 square meters of leasable space once fully developed. Image from DoubleDragon

SM Center Imus set to open in Cavite

Feb 14, 2018 - 3:30 PM

The 13,000-square-meter mall is SM Prime's 6th in Cavite and will open its doors on Friday, February 16

Uber loss leapt to $4.5B in 2017 as final quarter showed hope

Feb 14, 2018 - 2:59 PM

The losses grow from the $2.8 billion it lost in 2016

UBER. The ride-sharing leader reports losses for the final 3 months of 2017. File photo by Anthony Wallace/AFP


Duterte tells helpful Lucio Tan he'll forgive and forget

Feb 13, 2018 - 8:00 PM

After PAL provides planes for OFWs, President Rodrigo Duterte tells tycoon Lucio Tan: 'I am going to shut up forever. Okay na sa akin, tapos na.'

PAL to spend around $2 billion on 15 new planes in 2018

Feb 13, 2018 - 7:15 PM

(UPDATED) Philippine Airlines also says it is waiting for the Civil Aeronautics Board to decide on its petition for a fuel surcharge

PAL 4 Star Awarding

Jollibee takes bigger bite out of U.S.-based Smashburger

Feb 13, 2018 - 5:10 PM

The homegrown fast-food giant will acquire an additional 45% stake in the American burger chain for $100 million

DPWH gets help from Hong Kong-based Arup for infra deals

Feb 13, 2018 - 4:43 PM

The consulting contract is the first of 3 consulting packages expected under the $100-million Infrastructure Preparation and Innovation Facility approved by the Asian Development Bank in October 2017

Net income of RCBC surges to P4.3 billion in 2017

Feb 13, 2018 - 2:23 PM

RCBC president and chief executive officer Gil Buenaventura says the listed lender is ready to make the most of the favorable business environment this 2018

'Super consortium' formalizes P350-billion NAIA rehab proposal

Feb 13, 2018 - 12:30 PM

The consortium's members are Aboitiz InfraCapital, AC Infrastructure, Alliance Global, Asia's Emerging Dragon, Filinvest, JG Summit, and Metro Pacific

REHABILITATING NAIA. The consortium teams up with Singapore's Changi Airports International Private Limited to provide technical support in the areas of master planning, operations optimization, and commercial development. Image from Aboitiz Corporate Communications

#AskTheTaxWhiz: The BIR's revenue target for 2018

Feb 13, 2018 - 9:00 AM

'With income tax collections expected to drop due to the implementation of TRAIN, this year will be extra challenging for the Bureau of Internal Revenue'

Unilever threatens to pull ads from 'divisive platforms'

Feb 13, 2018 - 7:55 AM

Denouncing what it calls 'toxic online content,' Unilever weighs in on growing concerns about fake news and extremist posts on such networks as Facebook and Google

UNILEVER HQ. A picture taken on June 5, 2015 shows employees walking pass the logo of Unilever at the headquarters in Rotterdam. John Thys/AFP/File

Bangkok-based firm plans initial coin offering in the Philippines

Feb 12, 2018 - 9:20 PM

Global Crypto Hub seeks to secure the necessary licenses to launch an initial coin offering for its digital currency Usereum

PSE raises free float requirement for benchmark index

Feb 12, 2018 - 6:45 PM

Companies must meet the increased requirement to qualify for inclusion in the Philippine Stock Exchange index and for membership in the sector indices

RECOMPOSITION. Other than raising the public float requirement, PSE also implements other revisions to its policy on managing PSEi index to ensure it remains at par with global standards. Photo by AFP