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NAIA no longer among 'worst airports' – survey

Oct 18, 2017 - 1:20 PM

Meanwhile, 4 regional airports in the Philippines remain among the top 25 best airports in Asia

NOT ANYMORE. Latest survey released by travel website The Guide to Sleeping in Airports showed that NAIA is no longer included in the top 20 worst airports in the world, and even in the top 5 worst airports in Asia 2017. Photo By Ben Nabong/Rappler

Calata rejects PSE's voluntary delisting proposal

Oct 17, 2017 - 8:15 PM

Calata Corporation says generating cash for the tender offer is 'grossly impractical' and that selling out to Millennium Global remains the best solution to prevent itself from being delisted

SAVE THE AGRIBUSINESS. Calata's open letter comes as response to the Philippine Stock Exchange's proposal to delist voluntarily on the condition that it will conduct a tender offer to small shareholders. Photo from the official website of Calata

3 new China-Cebu flights to launch in October

Oct 17, 2017 - 5:10 PM

Okay Airways, China Eastern, and Juneyao Airlines are set to launch new flights to and from Cebu soon

Airbus to enter into partnership with Canada's Bombardier

Oct 17, 2017 - 8:45 AM

Airbus will take a majority stake in Bombardier's marquee C-Series airliner program as the Canadian firm battles against a stiff tariff ruling in the US

AIRCRAFT IN QUESTION. The Bombardier C-Series plane, which faces preliminary anti-dumping duties of 220% from the US Commerce Department. Photo courtesy Bombardier

PSE offers Calata voluntary delisting instead of selling out

Oct 16, 2017 - 9:30 PM

The Philippine Stock Exchange says Calata Corporation can voluntarily delist on the condition that it will conduct a tender offer to small shareholders

PROTECTING SHAREHOLDERS. As a neophyte member of the Philippine Stock Exchange, Calata Corporation admits it struggled to comply with all the rigorous requirements of corporate regulators. File photo

Malaysian firm wants to replicate Putrajaya at New Clark City

Oct 16, 2017 - 7:15 PM

MTD Capital Berhad proposes a P121.8-billion, 207-hectare national government administrative center outside the Philippines' capital

CLARK GOV'T OFFICE. Bases Conversion and Development Authority (BCDA) receives unsolicited proposal from MTD Berhad Capital to establish the New Clark City National Government Administrative Center through a joint venture agreement. Artist perspective of New Clark City courtesy of BCDA

PT&T looks to become major telco force in 3 years

Oct 13, 2017 - 9:06 PM

In a disclosure to the Philippine Stock Exchange on Friday, October 13, in response to news reports, PT&T confirms 'it intends to regain its status as a major telecommunications force in the Philippines and expand its present fixed broadband business across the country'

40 European firms set sights on PH renewable energy market

Oct 12, 2017 - 8:35 PM

Companies from 13 European countries eye investments in solar generation, hydropower, wind power, and electric vehicles

CLEAN ENERGY. These are 5,760 solar panels atop SM North Multilevel Carpark Building. Rappler file photo

Bitcoin bursts through $5,000 for first time

Oct 12, 2017 - 5:40 PM

The cryptocurrency strikes a new record high of $5,183.97 at around 0820 GMT according to financial data provider Bloomberg

Canceled flights due to Tropical Depression Odette

Oct 12, 2017 - 4:15 PM

Bookmark and refresh this page for the latest information on flight cancellations due to Tropical Depression Odette

PLDT building submarine cable for PH link to 3 continents

Oct 12, 2017 - 4:00 PM

With an initial investment of P500 million, PLDT is set to open its Asia-Africa-Europe 1 Submarine Cable System (AAE-1) before the end of 2017

PAL to launch Clark-Virac route on December 15

Oct 11, 2017 - 5:20 PM

The new Philippine Airlines route will operate on Mondays, Wednesdays, and Fridays

Japan steel scandal grows as more carmakers hit

Oct 11, 2017 - 4:15 PM

The carmakers are assessing vehicles with products from Kobe Steel, which admitted falsifying data linked to the strength and quality of its products

An employee of Toyota Motor's subsidiary Toyota Motor Kyushu assembles a new 2-litre gasoline turbo engine '8AR-FTS' at the Kanda Plant in Kanda, Fukuoka Prefecture, on August 7, 2014. Toyota said on August 5 its net profit in the three months through June came in at a record USD 5.7 billion, with the rise largely thanks to cost-cutting and a weak yen. AFP PHOTO / Toru YAMANAKA / AFP PHOTO / TORU YAMANAKA

Alliance Global moves into infrastructure, proposes Skytrain

Oct 11, 2017 - 2:00 PM

Andrew Tan's new infrastructure subsidiary Infracorp Development announces its arrival with an unsolicited bid for a monorail project that would link Guadalupe, Makati to Bonifacio Global City

SM to open mall in Tuguegarao on October 12

Oct 10, 2017 - 3:25 PM

SM Center Tuguegarao Downtown will be SM's 2nd mall in the Cagayan Valley region

FIRST IN CAGAYAN VALLEY. SM's new mall in Tuguegarao is strategically located at the corner of Luna and Mabini streets, which are main thoroughfares in this major urban city in the north. Rappler photo

Shell stations to offer charging for electric vehicles

Oct 10, 2017 - 1:25 PM

Lack of charging equipment is one of the main reasons for the slow uptake of electric vehicles in the Philippines

CHARGING POSTS SOON. The agreement requires that the initial 100 pilot sites for the charging stations will be strategically located in Pilipinas Shell's retail stations in Metro Manila. Rappler file photo

Defiance in Britain over new £1 coin as deadline looms

Oct 10, 2017 - 12:55 PM

Businesses complain they weren't given enough time to switch to the new coin

(FILES) This file photo taken on March 28, 2017 shows an old issue £1 (one pound) coin (R) pictured alongside a newly issued 12-sided £1 (one pound) coin in London. Britain's old one-pound coin is being phased out completely on October 15, 2017, but businesses complain they have been given too little time to switch to the new one and many are planning to defy the deadline. / AFP PHOTO / Justin TALLIS

Smart to upgrade cell sites in Marikina, Quezon City

Oct 09, 2017 - 9:35 PM

This upgrade is expected to improve Smart's mobile data service, particularly long term evolution (LTE) and 3G, in the two cities

BETTER SERVICE? This comprehensive network modernization and expansion program is at the core of the PLDT group's digital pivot. Rappler file photo

PAL to begin direct Cebu-Bangkok flights on December 2

Oct 09, 2017 - 6:55 PM

Philippine Airlines cites 'public demand' for the route, which will have thrice weekly flights

Metro Pacific to ink deal with Leighton for CALAX

Oct 08, 2017 - 11:45 PM

Under a contract worth about P7.3 billion, Leighton will build the Cavite side of the Cavite-Laguna Expressway (CALAX)

CALAX. The tollways arm of Metro Pacific Investments Corporation (MPIC) is spending P153 billion until the first quarter of 2018 to start building highways and toll roads around the Philippines that will make up for the country's national infrastructure. Photo from MPIC website

PLDT goes into chartered flights service

Oct 08, 2017 - 10:25 PM

PLDT unit Pacific Global One says it can now provide private flights to Balesin, Amanpulo, Baguio, and Boracay, among other routes

AVIATION FORAY. PLDT and Pacific Global One executives launch chartered airline services in the Philippines. Image from PLDT Corporate Communications

The SGV that Washington SyCip left behind

Oct 08, 2017 - 9:00 PM

(UPDATED) Washington SyCip's passing creates a void in the business relationships that directly involve or are dependent on him that will be difficult, if not impossible, to fill

10 firms eye partnering with TransCo for telco entry

Oct 08, 2017 - 8:35 PM

Meanwhile, local carrier PT&T writes to TransCo, signifying its interest to enter into a lease agreement with the state-run firm

WANTED: 3RD MAJOR PLAYER. State-run TransCo is one of the companies that wants to compete with two telecommunications giants: Globe Telecom and PLDT. Rappler file photo

Business icon Washington SyCip dies at 96

Oct 08, 2017 - 10:42 AM

(7th UPDATE) Washington SyCip 'went quietly while on a flight to Vancouver from Manila,' says SGV & Co., the accounting firm he co-founded

Philippine Airlines agrees to pay P6 billion in aviation fees

Oct 06, 2017 - 7:47 PM

Philippine Airlines also commits to 'keep all transactions updated and current' with the aviation and airport authorities

ACCORD. DOTr Undersecretary for Legal and Procurement Atty. Reinier Yebra, CAAP Director General Jim C. Sydiongco, Undersecretary for Aviation Capt. Manuel Antonio Tamayo, MIAA General Manager Ed Monreal, CAAP Chief of Staff Atty. Danjun Lucas, PAL’s Senior Assistant VP Atty. Clara de Castro, Stewart C. Lim PAL Holdings Executive Vice President and PAL’s Senior Vice President Mr. Nicky Gozon. Photo from CAAP.

Philippine tobacco giant Mighty Corp pays P30 billion to settle tax case

Oct 06, 2017 - 5:08 PM

(UPDATED) The P30 billion settlement with P10 billion in taxes and penalties on top will fund President Rodrigo Duterte's 'Build, Build, Build' program

Globe peddles prepaid plans to boost broadband sales

Oct 06, 2017 - 3:35 PM

The telco unveils a slew of prepaid and no lock-up postpaid home broadband plans which it hopes will push it towards its target of 2 million more broadband subscribers by 2020

UNVEILED.  Globe unveils its new home broadband plans at an Unlocked event on the evening of October 5, 2017. Photo by LeAnne Jazul/Rappler

Planned expressway seen to cut Manila-Tagaytay travel time

Oct 04, 2017 - 8:40 PM

Construction of the proposed 49-kilometer Cavite-Tagaytay-Batangas Expressway (CTBEX) is expected to start by the 1st half of 2019

TAGAYTAY EXPRESSWAY. CTBEX is a 49-kilometer expressway that will connect Cavite and Batangas, with a spur road to Tagaytay City and ultimately terminating in Nasugbu, with another spur road to Tuy, Batangas. File image from MPCALA Holdings

Philippines’ lone Islamic bank seeks P2 billion fresh capital to book profit

Oct 04, 2017 - 4:34 PM

Al Alamanah Islamic Investment Bank of the Philippines has been reporting net losses for the past few years, and to reverse that it awaits Congress to approve the amendment of its Charter, according to Alex Bangcola, the bank’s chairman and chief executive officer

ALEX BANCOLA. Photo of Alex Bancola from http://www.amanahbank.gov.ph/

Qatar wants to invest in PH via Islamic bonds

Oct 03, 2017 - 6:45 PM

The Qatar Investment Authority has at least $320 billion worth of excess funds which may be used for energy projects in the Philippines and Southeast Asia

ALEX BANCOLA. Photo of Alex Bancola from http://www.amanahbank.gov.ph/

Mindanao electricity market targeted for launch in Q2 2018

Oct 03, 2017 - 5:45 PM

Energy Undersecretary Felix William B. Funtebella says the government is currently auditing the system of the electricity spot market for Mindanao

Meralco to bid alone for AES' coal plant in Zambales

Oct 03, 2017 - 4:55 PM

Meralco won't have a partner when it bids for a controlling stake in the facility. It'll likely compete with San Miguel and Aboitiz Power.

LONE WOLF. US electricity giant AES Corporation is selling its entire 51% interest in the Masinloc power facility, which it bought from the Philippine government for $930 million in 2008. Meralco will bid alone. File photo

SC voids Ayala Land's ownership of prime lot in Las Piñas

Oct 02, 2017 - 11:55 PM

The property developer says it has filed a motion for reconsideration following the Supreme Court ruling that it is not the rightful owner of a 6.8-hectare lot in Ayala Southvale

Metro Pacific group eyes P20 billion for MRT3 takeover

Oct 02, 2017 - 6:20 PM

This would be P7.5 billion higher than its initial investment projection to take over and rehabilitate the Philippines' most congested mass transit railway

NEW OPERATOR SOON? Once the Metro Pacific group hurdles the Swiss challenge, it expects to take over the operations, maintenance, and rehabilitation of the MRT3 by early 2018. File photo by JR Belardo/Rappler

110,000 flyers stranded after UK airline collapses

Oct 02, 2017 - 6:14 PM

British short-haul carrier Monarch Airlines ceases trading suddenly following a financial collapse, the biggest failure of its kind in Britain

NOT FLYING ANYMORE. Grounded Monarch airplanes sit on the tarmac at Luton airport, south England on October 2, 2017. Daniel Leal-Olivas/AFP

Jollibee-Globe deal allows free calls for delivery

Oct 02, 2017 - 4:50 PM

Globe subscribers can now call Jollibee's delivery hotline #87000 for free through their mobile phones. The service will also come to Burger King, Greenwich, Mang Inasal, and Chowking.

Megaworld to build P3-B regional headquarters for New York-listed FactSet

Oct 02, 2017 - 2:30 PM

The 17-story FactSet Tower will offer 48,000 square meters of office space in Megaworld's McKinley West township

Honda to start mass recall in China over Takata airbags

Oct 02, 2017 - 1:15 AM

More than 245,000 vehicles, including Accord, Fit, City, Crosstour, and Everus S1 models, will be recalled in China

Logo of the Japanese auto parts maker Takata is seen a car showroom in Tokyo on June 23, 2017. Takata shares swung wildly rebounding by 45 percent from the previous day as investors bet on the chances of the scandal-hit airbag maker filing for bankruptcy. / AFP PHOTO / Behrouz MEHRI

PLDT to provide Wi-Fi to over 2,300 buses by end-2017

Oct 02, 2017 - 12:10 AM

PLDT says this will help bus operators comply with the government's plans to modernize the country's transport system

TECH UPGRADES. Over 2,000 buses nationwide will have Wi-Fi by the end of this year. Rappler file photo

PAL starts flights from Clark to Basco, Batanes

Oct 01, 2017 - 10:45 PM

Basco 'is now a short flight away for leisure travelers from Central and Northern Luzon,' says Philippine Airlines

NEW ROUTE. The new flight departs Clark International Airport at 11:45 am every Monday, Wednesday, Friday, and Sunday. It leaves Basco 2 pm on the same days. Photo from PAL

TransCo plans to diversify into telecoms, compete with the giants

Oct 01, 2017 - 10:10 PM

To implement its plan, the state-run firm will have to ask Congress to amend its charter so it could offer telecommunications services and products

TELCO HIGHWAY. The amount of spectrum assigned to TransCo impacts the cost of the build capacity, overall network performance, ability to offer new multimedia services, and general customer experience of wireless services. File photo

Construction of MRT-LRT common station finally begins

Sep 29, 2017 - 4:19 PM

The station linking the MRT7, MRT3, and LRT1 lines is targeted for completion in two and half years, according to the Department of Transportation

DOTr Secretary Athur Tugade (6th-R) Executive Secretary Salvador Medialdea (7th-R) and PCCO Secretary Martin Andanar (5th-R) joint with Representatives From MRT-LRT and SM Mall and Trinoma Mall during the Groundbreaking Ceremony of the Common Station that will connect four lines (LRT1, MRT3,MRT7, and the Metro Manila Subway in North Triangle Transport Terminal, EDSA corner North Avenue, Quezon City on Friday, September 29,2017. Photo by DARREN LANGIT

Luzon power grid on yellow alert again

Sep 28, 2017 - 5:10 PM

A Meralco executive expresses concern over the frequent incidence of yellow alerts, but the Department of Energy says there is no cause for alarm

FREQUENT. Yellow alert is a situation when reserve power falls below the required level. Reserves are inadequate to cover the largest running generating unit at the time but does not necessarily lead to power outages. Rappler file photo

DOTr demands over P7B in 'unpaid charges' from PAL

Sep 27, 2017 - 11:15 PM

The Department of Transportation warns of legal action if Philippine Airlines does not make a full payment, while the flag carrier says it is willing to discuss a settlement with authorities

This photo taken on January 26, 2016 shows tail sections of Philippine airlines (PAL) aircraft while parked at the terminal II building of the Ninoy Aquino International Airport. File Photo Ted Aljibe/AFP

PLDT to award up to 860,000 shares to key officers, employees

Sep 27, 2017 - 7:05 PM

The telco also aims to close 2017 with a higher recurring core income of P21.5 billion, from P20.16 billion in 2016

RIGHT TRACK. PLDT boss Manuel 'Manny' Pangilinan says the telco is on the right track but there are still many tasks ahead of PLDT. File photo by Alecs Ongcal/Rappler

Philippines' BPO industry sees slower annual growth of 9% until 2022

Sep 27, 2017 - 5:10 PM

Security risks in the Philippines, particularly the ongoing Marawi crisis, are causing headwinds in the business process outsourcing industry

SLOW BUT SUBSTANTIAL. The IT-BPO sector, a large and fast-growing industry in the country, expects slower growth in the next 6 years. Rappler graphics

Equifax CEO steps down in wake of massive hack

Sep 26, 2017 - 11:30 PM

The company taps longtime Equifax executive Paulino do Rego Barros, Jr. as interim chief executive while it undertakes a search for a new leader following the massive data breach

Robinsons Retail Holdings to replace EDC on PSEi

Sep 26, 2017 - 5:00 PM

This comes as the soon-to-be delisted EDC's public float drops below the 12% minimum requirement

PAL now offers 20% discount for senior citizens, PWDs online

Sep 26, 2017 - 3:10 PM

The discount applies to full-fare domestic flights and comes on top of the 12% value-added tax (VAT) exemption

OPEC to discuss extending cuts, quotas – UAE minister

Sep 25, 2017 - 6:48 PM

United Arab Emirates Energy Minister Suheil al-Mazrouei says the oil market has rebalanced after OPEC and non-OPEC producers agreed to cut output in a historic deal last year

OIL ORGANIZATION. The logo of OPEC is pictured at the OPEC headquarters on the eve of the 171th meeting of the Organization of the Petroleum Exporting Countries in Vienna, on November 29, 2016. Joe Klamar/AFP