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How much are the fares of new ride-hailing apps?

May 24, 2018 - 8:10 PM

Aside from Grab and U-Hop, Filipino commuters can now choose from MiCab, HirNa, Owto, Hype, and Go Lag

RIDE-HAILING. Currently, there are 7 ride-hailing companies with accreditation from the Land Transportation Franchising and Regulatory Board.

SEC approves planned IPO of Del Monte Philippines

May 24, 2018 - 6:00 PM

The local unit of Del Monte Pacific Limited plans to sell 587.437 million secondary shares at an offer price of up to P29.88 per share

DOTr still in talks with NAIA Consortium over airport rehab terms

May 24, 2018 - 5:20 PM

The Department of Transportation says there are still 'many conditionalities' to be discussed, including payment to the government

NEGOTIATIONS. The Department of Transportation is negotiating some terms in the proposal of the NAIA Consortium to rehabilitate, operate, and maintain the dilapidated international airport. Photo By Ben Nabong/Rappler

Lenovo posts $189 million full-year loss on one-time write-off

May 24, 2018 - 3:37 PM

The Beijing-based company also reports a 69% decline in profit in its fourth quarter ending March 31

LENOVO. A general view of atmosphere during the Lenovo ThinkPad P Series launch party on August 12, 2015 in California. File photo by Rachel Murray/Getty Images for Lenovo/AFP

Parañaque prosecutor asked to inhibit from Okada estafa complaint

May 23, 2018 - 8:45 PM

Tiger Resort blames the prosecutor for the supposed leak of a resolution involving its estafa complaint against its ex-chairman Kazuo Okada

LEGAL BATTLE. Tiger Resort, owner and operator of Okada Manila, is the complainant in the estafa case, accusing ex-partner Kazuo Okada of embezzling over $10 million of the firm's funds between early 2016 and June 2017. Photo by Alecs Ongcal/Rappler

Foxconn unit to raise $4.2 billion in China IPO

May 23, 2018 - 2:04 PM

Foxconn Industrial Internet, which makes electronic devices, cloud service equipment and industrial robots, will float 10% of its total shares, according to a prospectus filed late Tuesday, May 22, with the Shanghai stock exchange.

FOXCONN. This picture taken on February 22, 2013 shows a young man walking past a Foxconn recruitment point in Shenzhen, south China's Guangdong province. Photo by AFP

NAIA Consortium shortens period, lowers cost for airport rehab proposal

May 22, 2018 - 7:10 PM

The NAIA Consortium, which is composed of 7 of the country's biggest conglomerates, is now proposing a 15-year concession period and P105-billion project cost

NEGOTIATING TERMS. A consortium of 7 of the country's top conglomerates is negotiating the terms of its proposal to rehabilitate Ninoy Aquino International Airport (NAIA) with the transportation department. Photo By Ben Nabong/Rappler

Lower rice prices starting June – NFA

May 22, 2018 - 7:10 PM

The average price of commercial rice is now at P40 to P43 per kilo, according to the Philippine Statistics Authority

 RICE STOCK. Workers pile sacks of rice at a National Food Authority warehouse. Rappler file photo

Blockchain Association of the Philippines established

May 22, 2018 - 6:50 PM

The association seeks to spread understanding and adoption of blockchain technology among Filipino entrepreneurs and fintech professionals

BITCOIN. Blockchain's poster boy, Bitcoin, has often been seen as a way to get rich quick. The Blockchain Association of the Philippines is seeking to spread a better understanding of the technology behind it, Blockchain. Photo by Jack Guez/AFP


LRT1 operator eyes P5 to P7-fare hike

May 22, 2018 - 3:23 PM

(UPDATED) If approved, the fare hike will be rolled out by August 2018, says LRT1 operator Light Rail Manila Corporation

HIKE. Light Rail Manila Corporation (LRMC) CEO Juan Alfonso says the Light Rail Transit Line 1 operator has filed a fare hike petition last March. Photo by Aika Rey/Rappler

Higher electricity bills for Filipino consumers starting June

May 22, 2018 - 10:55 AM

The Energy Regulatory Commission approves a higher feed-in-tariff allowance (FIT-All) rate, which appears as a separate line item in electricity bills

POCKET BRUISING. Higher FIT-All rate is billed to all on-grid electricity consumers, appearing as a separate line item in electricity bills. Rappler file photo

DOT sets cruise, drive tourism circuits to lure visitors to Western Visayas

May 21, 2018 - 8:05 PM

Western Visayas tourism officials says they must attract some 1 million tourists to recover from the slump brought by the closure of Boracay Island

Emperador bullish on international business

May 21, 2018 - 8:00 PM

Its scotch whiskey business Whyte & Mackay is now in the growth phase, while its recently-acquired brandy business in Mexico is expected to follow suit in 2019

ON A PAUSE. Andrew Tan's liquor business unit Emperador is taking a pause from its acquisition binge. In the meantime, it is letting its newly-acquired brands to grow. File photo from Emperador

At least 7 groups vie for 25-year deal to operate, maintain Clark airport

May 21, 2018 - 7:05 PM

With the auction for the operations and maintenance of the Clark International Airport about to start, several prospective bidders question some of the requirements

Japan's new 'Airbnb law': a double-edged sword

May 20, 2018 - 8:05 PM

Short-term rentals will be legalized in Japan on June 15 under the new law, but there will also be fresh restrictions

This April 16, 2018 picture shows Japanese traditional tatami-mat room in short-term accommodation operated by Hyakusenrenma's rental house in Tokyo.  Rental platforms like Airbnb are hoping for a boost from a new law coming into force next month in Japan ahead of the 2020 Olympics, but experts warn it could actually hamper business in the short-term. / AFP PHOTO / Toshifumi KITAMURA / TO GO WITH AFP STORY JAPAN-TOURISM-LAW-AIRBNB-OLYMPICS,FOCUS BY MARIE HEUCLIN

AirAsia celebrates half a billion passengers with P1-seat sale

May 19, 2018 - 1:28 PM

The booking period for the sale is from May 21 to 27, for flights between November 1, 2018 to August 13, 2019

DOTr exec accuses 'higher ups' of derailing Mindanao Railway project

May 19, 2018 - 12:54 PM

Another transportation official says the allegations of Assistant Secretary Mark Tolentino are 'completely untrue'

DELAY? Railways Assistant Secretary Mark Tolentino accuse other transportation officials of delaying the Mindanao Railway project. File photo from Tolentino's Facebook page

SM City Telabastagan opens in Pampanga on May 18

May 17, 2018 - 6:15 PM

SM City Telabastagan, SM Prime's 3rd mall to open this year, will have 55,000 square meters of gross floor area

3RD THIS YEAR. Located along Pampanga's major thoroughfare McArthur Highway, SM City Telabastagan will open with two floors of shopping, multi-cultural dining and entertainment zone. Image from http://sminvestments.com/

Despite regional challenges, AirAsia pushes IPO of Philippine unit

May 17, 2018 - 5:34 PM

Tony Fernandes, chief of Southeast Asia's largest low-cost carrier, says the Philippines is the airline's 'best kept secret,' with a lot of destinations waiting to be recognized

STRONG PERFORMER. AirAsia Group head Tony Fernandes: 'The Philippines is our best kept secret and we're about to open that.' Photo by Chrisee Dela Paz/Rappler

Senate approves bill granting gov't support for 'innovative' startups

May 17, 2018 - 11:32 AM

If Senate Bill 1532 is passed into law, startups would enjoy research grants, exemption from fees and charges, and free use of government equipment and facilities, among other incentives

STARTUPS IN THE PHILIPPINES. Thinking of building a startup or investing in one? Read this first.

Cebu Pacific to expand footprint in Japan with new office

May 16, 2018 - 7:00 PM

Now on its 10th year of operations in Japan, Cebu Pacific mounts about 70 flights weekly between Japan and the Philippines

GMA to introduce 'cheaper, smaller' digital TV device in June

May 16, 2018 - 5:35 PM

The listed broadcast giant says its digital transmission device is now being manufactured in China, with over one million units seen to be released in a year's time

OPTIMISTIC. GMA Network chief Felipe Gozon says his firm expects to have a higher net income in 2018 than in 2017. Rappler file photo

Toys 'R' Us to sell iconic mascot, adult website domain names

May 16, 2018 - 3:15 PM

Some of the domain names include sex-toys-r-us.com, kinkytoysrus.com and adult-toys-r-us.com.

SELLING OFF ASSETS. Shoppers buy gifts at the Toys"R"Us store during early Black Friday events on November 24, 2016 in Paramus, New Jersey. File photo by Munoz Alvarez/Getty Images/AFP

SEC approves planned IPO of DM Wenceslao

May 15, 2018 - 7:55 PM

The construction firm will offer 679.2 million common shares at an offer price of P22.90 per share

ASEANA CITY. The 204-hectare project of DM Wenceslao is a home to several entertainment, commercial, and residential establishments. Photo from www.dmwai.com

DoubleDragon opens 2018 with 349% jump in net income

May 15, 2018 - 5:40 PM

The surge is mainly due to higher rental income for the listed property developer in the 1st quarter of the year

PLDT not keen on joining Globe for independent cell tower firm

May 15, 2018 - 12:40 PM

PLDT chief Manuel Pangilinan says his firm does not see the need to share any of its existing network elements, including cellular towers

NOT KEEN. ‘At this time, we don't see any benefit or need to share any of our existing network elements, including our towers,’ PLDT chief Manuel Pangilinan says. Photo by Alecs Ongcal/Rappler

Planned deal between PLDT's Voyager, Tencent might not push through

May 14, 2018 - 6:45 PM

There's no progress in talks between PLDT unit Voyager Innovations Incorporated and Chinese tech giant Tencent Holdings Limited, according to Manuel Pangilinan

Semirara sees slower income growth in 2018 over plant shutdowns

May 14, 2018 - 1:10 PM

With the shutdown of some plants, Semirara started buying replacement power from the Wholesale Electricity Spot Market in the last week of March, which had minimal impact on its 1st quarter earnings

Xerox ends merger with Fujifilm in victory for shareholders

May 14, 2018 - 7:48 AM

(UPDATED) In a statement on its website, Xerox cites 'material deviations' in the audited financials of an existing joint venture known as Fuji Xerox that is controlled by Fujifilm

MERGER TERMINATION. Xerox terminates merger with Fujifilm. Background image from Wikipedia by Solomon203

DTI imposes price freeze on goods in Boracay

May 11, 2018 - 9:42 AM

The automatic price ceiling and regular monitoring of prices are pursuant to Proclamation No 475, which placed 3 barangays in Boracay under a state of calamity

PRICE CAP. The Department of Trade and Industry has placed a price cap on basic goods sold in areas in Boracay that are under a state of calamity. Rappler file photo

Palawan town eyes 100,000 tourists in 2018 as San Vicente Airport opens

May 10, 2018 - 10:06 PM

Transportation Arthur Tugade says the will begin catering to commercial flights, specifically by PAL, by June. Cebu Pacific is also considering the marketability of flying to San Vicente.

TOURISM BOOST. The municipality of San Vicente, which boasts of the Philippines' longest white beach, is located 186 kilometers north of the capital Puerto Princesa City. Photo by Keith Anthony Fabro/Rappler

Flying to BIMP-EAGA? Travel tax waived for certain travelers

May 10, 2018 - 6:30 PM

BIMP-EAGA includes Brunei, Indonesia, and Malaysia, and the travel tax exemption aims to 'accelerate economic development in Mindanao and Palawan'

DUTERTE'S ORDER. President Rodrigo Duterte orders the travel tax exemption of Mindanao and Palawan travelers flying to BIMP-EAGA. Malacañang file photo

Despite higher profit, PLDT chief unsatisfied: 'We can do better'

May 10, 2018 - 5:11 PM

The listed telecommunications giant will not stop until it becomes the most profitable listed firm in the Philippines again, says PLDT chairman and CEO Manuel Pangilinan

BETTER PERFORMANCE. PLDT chief Manuel Pangilinan says the telco strives to become the most profitable listed firm again. Photo by Martin San Diego/Rappler

Jollibee to buy master franchise holder of Tim Ho Wan

May 09, 2018 - 7:00 PM

Jollibee Foods Corporation is acquiring the master franchise holder of the Michelin-star dim sum restaurant chain through a private equity fund investment

Max's Group prefers franchises over company-owned stores

May 09, 2018 - 4:25 PM

The Philippines' largest casual dining restaurant group plans to add 90 more stores in 2018, bulk of which are under franchise contracts

SM gets income boost from property, retail units

May 09, 2018 - 3:35 PM

The listed conglomerate of the Philippines' richest man posts a 10% rise in net income for the 1st quarter of 2018, thanks to its core businesses

STRONG RESULTS. SM president Frederic DyBuncio says: 'We continue to build on our strong 2017 performance with revenues rising faster in the first quarter this year.' Photo by Rob Reyes/Rappler

Grab plans to impose fee on riders who cancel trips

May 08, 2018 - 6:30 PM

The ride-hailing company plans to begin charging passengers for trip cancellations within the next 100 days. The amount is still undetermined.

BETTER SERVICE. Grab Philippines marketing head Cindy Toh says a set of rules and regulations will be rolled out for passengers. Photo by Aika Rey/Rappler

Petron gets income boost from Bataan refinery

May 08, 2018 - 5:50 PM

Ramon Ang, chief of the country's largest oil retailer, says 'stable and improved operating efficiencies' in Bataan significantly contributed to the company's performance in the 1st quarter of the year

PETRON. In this file photo, a gasoline attendant loads petrol to motorcycle at Petron station in Manila on May 12, 2009. Photo by Jay Directo/AFP

Robinsons Land partners with Hong Kong firm for residential project

May 08, 2018 - 5:10 PM

This involves an 18,037-square-meter property at Bridgetowne East in Pasig City, where 4 condominium towers will be built

PLDT unit seals partial sale of Rocket Internet stake

May 07, 2018 - 7:25 PM

As a result of the sale, the Manuel Pangilinan-led telco's equity ownership in Rocket Internet is reduced from 6.1% to 2%

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

May 07, 2018 - 6:00 PM

Udenna Corporation, holding firm of tycoon Dennis Uy, pays the Philippine Competition Commission P19.6 million as penalty for initially failing to notify the antitrust agency about the merger

COMPLIANCE. Back in August 2016, Dennis Uy's Udenna bought all of KGLI Investment Cooperatief UA's shares in KGLI-BV, which in turn owned 39.71% of KGLI-NM Holdings Incorporated. Photo was during a sit-down interview with Uy on July 12, 2017. Photo by LeAnne Jazul/Rappler

LOOK: Duty Free Philippines to open luxury store at SM Mall of Asia complex

May 07, 2018 - 5:44 PM

Aside from Luxe Store at SM Mall of Asia, Duty Free Philippines Corporation will open Landside Store at NAIA Terminal 3 in June

ARTIST'S PERSPECTIVE of the Luxe Store, which is expected to open at the SM Mall of Asia complex in June 2018. Image courtesy of Duty Free Philippines

BPI posts flat net income of P6.25 billion in Q1 2018

May 07, 2018 - 5:30 PM

The listed Ayala-led lender remains less exposed to interest rate risk, as its holding in securities only increased by 2.3% to P309.95 billion from January to March this year

FLATTISH PERFORMANCE. Net income of BPI, the Philippines' 3rd largest bank in terms of assets, remains unchanged in the first quarter of 2018, from the P6.25 billion recorded in the comparable period a year ago. Photo by LeAnne Jazul/Rappler

Globe Telecom open to partnering with PLDT for cell tower firm

May 07, 2018 - 4:40 PM

The Ayala-led company says the creation of an independent cell tower firm would significantly reduce the time needed for a new player to roll out

Nestle pays $7.15 billion to sell Starbucks products

May 07, 2018 - 3:20 PM

(3rd UPDATE) Starbucks president and CEO Kevin Johnson says the deal, which still needs approval from regulators, will create a 'global coffee alliance'

After Clark, AirAsia developing hubs in Puerto Princesa, Bohol

May 06, 2018 - 10:00 PM

The Philippine unit of Southeast Asia's largest discount carrier plans to have 70 planes by 2032. With inadequate space in Manila, AirAsia is looking for more hubs in the countryside.

NFA awards 250,000 MT rice supply to Thailand, Vietnam

May 04, 2018 - 5:31 PM

The two countries are expected to bring in the first batch of rice on May 31, ahead of the so-called lean months

 RICE STOCK. Workers pile sacks of rice at a National Food Authority warehouse

Ramon Ang: SMC can self-finance proposed P700-B Bulacan airport

May 04, 2018 - 4:35 PM

'If you look at [our] balance sheet and cash flow, we can easily do the airport alone,' says Ssn Miguel Corporation President Ramon Ang

BSP issues new rules to protect credit cardholders, spur entry of new players

May 04, 2018 - 3:31 PM

The Bangko Sentral ng Pilipinas has issued the implementing rules and regulations of the credit card law, strengthening protection for the country's 8 million credit cardholders

Ilocos Region ready to be alternative to Boracay

May 04, 2018 - 10:43 AM

More tourists are expected to come to Ilocos Sur and Norte because of the 'resting' of Boracay

Ilocos as alternative to Boracay. Photo by Mau Victa/Rappler