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RCBC accuses Bangladesh central bank of cover-up

Dec 12, 2017 - 6:25 PM

The Rizal Commercial Banking Corporation says Bangladesh Bank is 'maligning RCBC and refusing to divulge its findings' on the $81-million heist

CA clears Roberto Ongpin of insider trading

Dec 12, 2017 - 2:45 PM

The decision reverses a July 2016 Securities and Exchange Commission ruling which barred Ongpin from joining the board of any listed firm and fined him P174 million

7 Filipino startups that can make your life easier this Christmas

Dec 12, 2017 - 12:20 PM

Preparing for the holidays? Let these Filipino startups help you beat the Christmas rush.

TransCo open to creating 3rd telco player with China Telecom

Dec 11, 2017 - 8:00 PM

'They have the technical expertise in operating and TransCo has the facilities to offer,' says TransCo President Melvin Matibag

Megaworld to build P8-billion estate along Lake Caliraya in Laguna

Dec 11, 2017 - 2:35 PM

The Hamptons Caliraya will be a 300-hectare development featuring lakeside residential villages and villas, a town center, two 18-hole golf courses, and a clubhouse, all set to rise over the next 10 years

BDO, World Bank tie up for $150-million green bonds

Dec 10, 2017 - 10:00 PM

The World Bank is the sole investor in the issuance which is expected to curb 93,000 tons of carbon dioxide emissions per year by 2022 through the funding of climate-smart projects

GE to cut 12,000 jobs in power unit

Dec 07, 2017 - 9:38 PM

General Electric announces it will cut approximately 1/5 blue collar and white collar jobs in its GE Power unit, in a bid to cut costs

GENERAL ELECTRIC. The logo of US company General Electric is seen at a factory of the group, on November 21, 2017 in Montoir-de-Bretagne, western France. Loic Venance/AFP

TPLEX now extended to Pozorrubio in Pangasinan

Dec 07, 2017 - 6:50 PM

The new 10.10-kilometer segment is expected to cut the Tarlac-Pozorrubio travel time from 2 hours and 30 minutes to just 45 minutes

Conglomerates in talks for 'super consortium' to upgrade NAIA

Dec 07, 2017 - 3:50 PM

Andrew Tan's Alliance Global and Lucio Tan's LT Group confirm there are talks with other business groups, though no formal agreements have been reached

AboitizPower to install 500 MW of new power by 1st half of 2018

Dec 06, 2017 - 10:30 PM

The new capacity will come from the completion of several hydro and baseload power plants

HYDROPOWER. A look at the installed turbines and generators for the 68-MW Manolo Fortich (Bukidnon) hydro power plant of AboitizPower subsidiary Hedcor. Photo from AboitizPower.

AboitizLand to open The Outlets discount mall in Batangas next year

Dec 05, 2017 - 9:40 PM

The Outlets will offer premium brands at reduced prices. Phase 1 is targeted for launch by April 2018.

Online platform Startup-O brings accessible funding for startups

Dec 05, 2017 - 3:41 PM

Startup-O envisions democratizing the process of raising funds for emerging startups

PLDT extends partnership with Cignal TV to business customers

Dec 04, 2017 - 4:35 PM

The new arrangement allows businesses such as hotels and bars to broadcast Cignal TV content via the internet

CONNECTING. ​PLDT's Eric Alberto and Cignal TV President and CEO Jane Basas (4th and 5th from left) lead a group of Cignal and PLDT enterprise executives at a ceremony extending their partnership on December 4. Photo from PLDT Enterprise.

Globe partners with SM Store for easy payments

Dec 03, 2017 - 10:05 PM

SM Store customers can now use GCash's scan-to-pay feature to buy items with their mobile phones

Silicon Valley investor Shervin Pishevar denies sexual misconduct

Dec 02, 2017 - 9:03 PM

Five women tell the Bloomberg News agency that Pishevar sexually assaulted or harassed them while meeting them in a professional context. Some of the alleged events took place as early as 2013.

SHERVIN PISHERVAR. Co-Founder and Managing Director of Sherpa Capital Shervin Pishevar and Executive Editor of Recode Kara Swisher speak onstage during Vanity Fair New Establishment Summit at Wallis Annenberg Center for the Performing Arts on October 3, 2017 in Beverly Hills, California. File photo by Matt Winkelmeyer/Getty Images/AFP

TPLEX Binalonan to Pozorrubio in Pangasinan opens December 6

Dec 02, 2017 - 2:51 PM

The new segment will cut travel time from Tarlac to Pozorrubio from 2 hours and 30 minutes to 45 minutes

SM Center Pulilan set to open in Bulacan on December 1

Nov 29, 2017 - 9:20 PM

It will be SM Prime's 4th mall in Bulacan and its 66th in the Philippines

Photo from SM prime

Mining stocks fall as Senate approves nearly 3,000% coal tax hike

Nov 28, 2017 - 8:45 PM

Isidro Consunji, chairman of Semirara Mining and Power Corporation, says it would be 'discriminatory' if coal is singled out

PLDT open to Chinese strategic partners

Nov 28, 2017 - 7:00 PM

'I think it's a rather novel idea and it's something we should consider, either at the PLDT level or at the Voyager level or both,' says PLDT chairman Manuel Pangilinan

PAYING RESPECTS. PLDT chairman Manuel V Pangilinan congratulates John Gokongwei Jr on winning the Management Association of the Philippines (MAP) man of the year 2017 award at a ceremony on November 27. Photo by Alecs Ongcal/Rappler

BSP slaps sanctions on Metrobank for P1.75-B internal fraud case

Nov 28, 2017 - 12:43 PM

The sanctions range from reprimanding and suspending bank officials guilty of lack of oversight, to requiring Metrobank to set aside P4.45 billion to cover for higher operational risk and being subjected to periodic review

URC eyes sugar tax, Vietnam rebound as keys to lift sagging growth

Nov 27, 2017 - 9:45 PM

'We're in the right categories, primarily snacks and healthier products... that will resonate with the market especially as sugar taxes are imposed,' says URC president Lance Gokongwei

Robinsons Land targets to raise P20B in stock rights offering

Nov 24, 2017 - 6:20 PM

Approximately 950 million to 1.1 billion common shares are to be offered, with the majority of proceeds to be used to fund land acquisition

Jaguar Land Rover roars back into PH with new local partner

Nov 24, 2017 - 5:39 PM

The luxury car maker will launch 4 new models in the country with its new local partner: the Jaguar F-Pace and E-Pace SUVs, Land Rover Discovery, and Range Rover Velar

Canceled flights due to bad weather

Nov 24, 2017 - 9:53 AM

Bookmark and refresh this page for the latest information on flight cancellations for Friday, November 24

Building projects through ODA not in conflict with PPPs – ADB

Nov 23, 2017 - 7:05 PM

While the Duterte administration favors official development assistance over public-private partnerships, the Asian Development Bank says PPPs 'will continue to be a way of doing business'

Malacañang orders easing, lifting of foreign investment restrictions in 8 areas

Nov 23, 2017 - 5:20 PM

NEDA and other agencies are asked to relax or lift restrictions on foreign participation in investment areas like construction of public works, teaching at higher education levels, and domestic enterprises

President Rodrigo Roa Duterte discusses matters with Finance Secretary Carlos Dominguez III during the 19th Cabinet Meeting at the Malacañan Palace on October 4, 2017. SIMEON CELI JR./PRESIDENTIAL PHOTO

Foreign firms eyeing piece of San Miguel's food, beverage unit

Nov 22, 2017 - 5:10 PM

This is amid the San Miguel subsidiary's plan to sell up to 30% of its shares, earmarked at $3 billion, mainly through private placements

SHARE SALE. 'There are several big, foreign companies that are offering. We think we will sell 30% of our traditional business. That's around $3 billion,' Ramon Ang told reporters. Photo by Martin San Diego/Rappler

BPI debuts 'fresh, bright' design for branches

Nov 21, 2017 - 10:25 PM

'[BPI] is not seen as open and as bright as competitors....but here it's fresh, bright, and it's a very modern look,' says BPI executive vice president Joseph Gotuaco

Duterte rejects MICC proposal to lift open-pit mining ban

Nov 21, 2017 - 9:15 PM

'Ayaw ko because it is destroying the soil and walang corrective measures kaagad,' says President Rodrigo Duterte on open-pit mining

China Mobile or China Telecom as Philippines' 3rd major telco?

Nov 21, 2017 - 5:13 PM

Two state-run Chinese companies have set sights on competing with PLDT Incorporated and Globe Telecom Incorporated

Graphics by Alyssa Arizabal/Rappler

Megaworld to build P9-billion 'Makati-inspired' CBD in Cavite

Nov 20, 2017 - 5:30 PM

The 35-hectare central business district will be built within its 140-hectare Maple Grove township by 2022

Duterte wants Chinese company to be 3rd PH telecom player

Nov 20, 2017 - 11:41 AM

(UPDATED) 'The telecoms duopoly is about to end,' says Presidential Spokesman Harry Roque

HELLO, CHINA? President Rodrigo Duterte has offered to China the chance to operate the 3rd telecommunications company in the Philippines. Malacanang file photo, December 3, 2016

Embattled Toshiba to boost capital by $5.3-B share issuance

Nov 19, 2017 - 10:50 PM

The Japanese conglomerate will issue 2.28 billion new shares to raise a total of 600 billion yen ($5.3 billion)

TOSHIBA. The logo of Japanese conglomerate Toshiba is seen on a wall of a building in Kawasaki, suburban Tokyo, on December 29, 2016. Photo by Toru Yamanaka/ AFP

AboitizPower expands hydroelectric business

Nov 19, 2017 - 8:45 PM

The company's latest facility is the $47-million Maris hydroelectric power plant in Isabela, which took two years to build

GREENFIELD HYDRO. The $47-million Maris hydroelectric power plant is the first greenfield project of SN AboitizPower, which took the firm two years to build. Photo from AboitizPower

PLDT to nearly double int'l submarine cable capacity to 8.4 Tbps by 2019

Nov 17, 2017 - 2:44 PM

By the end of this year, PLDT’s submarine cable capacity will be 4.49 Tbps – up 140% from 2015

Net income of Chelsea Logistics quadruples on 2GO acquisition

Nov 16, 2017 - 2:12 PM

The increase in net income is driven by Chelsea Logistics Holdings Corporation's acquisition of two more logistics companies and shares in the 2GO Group

PRIME MOVER. The shipping and logistics business of the Udenna Group started in 2006 with the acquisition of a tanker in support of the operations of Phoenix Petroleum Philippines Incorporated. Photo from Chelsea Logistics

EDC net income drops by 6.5% in 1st 9 months due to Leyte earthquake

Nov 15, 2017 - 7:15 PM

The core net income of the renewable energy producer falls to P6.6 billion for the January to September period as the quake in July disrupted operations of its largest power plant

Philippines is last piece of ASEAN puzzle for CIMB

Nov 15, 2017 - 11:37 AM

Malaysian banking giant CIMB Group seeks a license to operate in the Philippines to complete its market positioning as an 'ASEAN bank'

India's Modi hails the Philippines as 'services powerhouse'

Nov 14, 2017 - 9:10 PM

The Philippines challenges India's dominance as the top business process outsourcing destination in the world

INDIA'S ACT EAST POLICY. Prime Minister Narendra Modi pitches India to business leaders at the ASEAN Business and Investment Summit as part of his Act East Policy. Photo from RTVM feed

Filinvest, JG Summit tap Changi as partner in Clark Airport bid

Nov 14, 2017 - 6:33 PM

The consortium of Gotianuy and Gokongwei groups appoints Changi Airports International as technical partner for its new P839 billion proposal to develop and operate Clark Airport

Pangilinan still optimistic over oil hunt in West Philippine Sea

Nov 14, 2017 - 6:15 PM

As ASEAN countries and China prepare to craft a Code of Conduct, Filipino tycoon Manuel Pangilinan is hopeful potential oil and gas reserves in the disputed waters can eventually be tapped

HOPEFUL. 'We are quite optimistic that something could happen, but that is entirely beyond our control,' PXP Energy chief Manuel Pangilinan says. Photo by Angie de Silva/Rappler

PH, Russia mull Northern Luzon railway corridor, new direct flights

Nov 14, 2017 - 3:40 PM

The two countries are exploring direct flights between their capitals and development assistance for the Philippines' Northern railway corridor

BILATERAL TALKS. Transportation Secretary Arthur Tugade and Russian Minister for Transport Maksim Sokolov discuss possible areas of cooperation. Photos from Department of Transportation

PH one step closer to Japan loan for Metro Manila subway

Nov 14, 2017 - 12:06 PM

(UPDATED) Officials of the Philippines and Japan exchange notes on the highly-anticipated subway project and 4 other deals

President Rodrigo Roa Duterte gives a warm welcome to Japan Prime Minister Shinzo Abe prior to the start of their bilateral meeting at the Philippine International Convention Center in Pasay City on November 13, 2017. ROBINSON NIÑAL JR./PRESIDENTIAL PHOTO

Filipino unicorn sets eyes outside ASEAN

Nov 14, 2017 - 11:35 AM

Revolution Precrafted, the first Filipino startup valued at more than $1 billion, wants to establish a presence in 18 countries

Qualcomm rejects $130B Broadcom merger bid

Nov 14, 2017 - 10:49 AM

The proposal 'significantly undervalues Qualcomm relative to the company's leadership position in mobile technology and our future growth prospects,' Paul Jacobs, Qualcomm's executive chairman, says in a statement

In ASEAN business summit, Razon asks PH to 'just get things done'

Nov 13, 2017 - 6:00 PM

The port magnate and casino operator says the Philippines can achieve larger economic gains than its neighbors by improving its infrastructure

FOCUS ON OWN. 'Once and for all, we (the Philippines) really have to focus and invest in our own infrastructure,' tycoon Enrique Razon Jr says. Photo by Adrian Portugal/Rappler

Uber gives green light for sale of stake to Japan's SoftBank

Nov 13, 2017 - 10:50 AM

(UPDATED) 'We've entered into an agreement with a consortium led by SoftBank and Dragoneer on a potential investment,' a company statement says

ABS-CBN net income down 20% to P2.26 billion in 1st 9 months

Nov 10, 2017 - 6:55 PM

But the media conglomerate's net income for the 3rd quarter of the year stands at P1.01 billion, up 38% from the same quarter last year

Ayala Corp net income up 39% to P8.2B in Q3 2017

Nov 10, 2017 - 4:49 PM

The result means that AC’s net income for the first 9 months of 2017 is up 18% to P23.2 billion, primarily because of the strong performances of Ayala Land and AC Energy

Bank schedules during 2017 ASEAN Summit

Nov 09, 2017 - 7:15 PM

Banks in Metro Manila release advisories on their operating hours for the duration of the Association of Southeast Asian Nations (ASEAN) Summit