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Google to buy part of Taiwan smartphone maker HTC for $1.1B

Sep 21, 2017 - 11:28 AM

(UPDATED) The agreement will give Google more control of its mobile handset hardware as it seeks to bolster its presence in a market dominated by Apple and Samsung

This photo taken on June 6, 2014 shows a man walks past a billboard showing the latest HTC M8 smartphone in Taipei. Sam Yeh/AFP

Toys 'R' Us in PH unaffected by U.S. toy store chain's bankruptcy filing

Sep 20, 2017 - 8:25 PM

Operated by the Gokongweis, Toys 'R' Us Philippines clarifies it is not part of Toys 'R' Us Incorporated's bankruptcy filing in the United States

NORMAL OPERATIONS. It is business as usual for Toys 'R' Us Philippines, which operates 34 stand-alone stores and 44 Toybox outlets inside Robinsons Department Store branches. File photo

After 2GO, SM group not looking to buy other logistics firms

Sep 20, 2017 - 7:45 PM

The president of SM Investments Corporation says their plate is 'full' when it comes to the logistics sector

PLATE IS FULL. 'No. At this time, we are fairly new in 2GO. We believe there is a lot of growth opportunities in 2GO,' SMIC chief Frederic DyBuncio replies when asked if SM is interested in other logistics firms. Photo by Rob Reyes/Rappler

Max's Restaurant set to open in Winnipeg, Canada in 2018

Sep 20, 2017 - 5:50 PM

It will be the 5th Max's Restaurant branch in Canada, following branches in Vancouver, Toronto, Scarborough, and Edmonton

Normal working day for BSP, banks on September 21

Sep 20, 2017 - 4:50 PM

The rate-setting meeting of the Bangko Sentral ng Pilipinas' Monetary Board will also push through on Thursday, September 21

BUSINESS AS USUAL. BSP Governor Nestor Espenilla Jr issues memorandum no. M-2017-09, announcing the central bank's clearing and settlement, cash servicing, as well as treasury operations would observe normal operations on Thursday. File photo by BSP

Davaoeños to export lapu-lapu to Xiamen

Sep 19, 2017 - 9:50 PM

Once the fish fry sent here from China have become fully-grown and have reproduced, they will be exported back to Xiamen, where the market price of the said commodity hovers at around P3,000 per kilo

A CATCH. Importers from Xiamen are preparing to ship 100,000 grouper fry from the fishermen in Davao. Rappler file photo

Bayan Muna asks SC to compel telcos to refund P18-B 'excess' text fee

Sep 19, 2017 - 9:49 PM

The petition covers Globe Telecom, Smart Communications Incorporated, and Digitel Philippines Incorporated, which is the operating company of Sun Cellular

INTERVENTION. Bayan Muna wants the Supreme Court to intervene and green light the refund order against telecommunication companies.

After a decade, construction of MRT-LRT Common Station to begin in September

Sep 19, 2017 - 9:10 PM

The coveted project has seen 3 transportation secretaries come and go. Finally, the construction will start on September 29.

Resorts World Manila sees recovery, fast-tracks expansion

Sep 19, 2017 - 4:30 PM

Foot traffic at the Resorts World Manila complex is almost back up to pre-attack levels, while an expansion of its casino area is eyed for completion by December

Jollibee eyeing British food chain Pret a Manger – report

Sep 19, 2017 - 12:47 PM

Jollibee is reportedly in talks for a possible $1-billon takeover of British sandwich chain Pret a Manger

STRANGE COMBINATION. Jollibee, homegrown fast food chain popular for its fried chicken and sweet-style spaghetti, is reportedly looking at acquiring Pret A Manger, a British company known for its organic coffee and fresh sandwiches. File image

Security Bank, RCBC add anti-fraud measures to debit cards

Sep 18, 2017 - 10:40 PM

Both banks add a remote lock/unlock feature to guard against unauthorized transactions

Pangilinan-Ayala group poised to bag MRT3 original proponent status

Sep 18, 2017 - 7:00 PM

Other private groups will be able to submit competing offers under a Swiss challenge, while the original proponent, the Pangilinan-Ayala group, would be given the right to match them

HURDLES. Once the Pangilinan-Ayala group is given the original proponent status and hurdled the Swiss challenge, it expects to take over the operations, maintenance, and rehabilitation of MRT3 by early 2018. Photo by Martin San Diego/Rappler

Max's Group bringing Sizzlin' Steak to UAE

Sep 18, 2017 - 6:15 PM

The Philippine casual dining giant teams up with Kasamar Holdings to open 7 Sizzlin' Steak outlets in the United Arab Emirates over the next 5 years

Megawide's proposed East-West Railway to cost $1 billion

Sep 18, 2017 - 4:50 PM

The railway would be an elevated 9.4-kilometer train line from Diliman, Quezon City to Lerma, Manila

FIRST RAIL DEAL. Megawide will exercise its option to buy up to 60% of the equity of East-West Railway Project upon incorporation of special purpose vehicle. Photo courtesy of Megawide

GM to recall 2.5M vehicles in China over Takata airbags

Sep 18, 2017 - 3:10 PM

GM and its joint venture partner Shanghai GM will start withdrawing vehicles fitted with the potentially faulty airbags beginning next month and will include Chevrolet and Buick cars

PRODUCTION LINE. In this file photo, laborers work in the Qingdao branch of SAIC-GM-Wuling Automobile in Qingdao, east China's Shandong province on January 9, 2014. Stringer/AFP

PHINMA Energy eyes 45-megawatt solar plant in Batangas

Sep 13, 2017 - 8:30 PM

The company wins a solar service contract for the right to explore and develop a 486 hectare area in Batangas from the Department of Energy

SM Prime to open mall in Puerto Princesa, Palawan

Sep 13, 2017 - 4:50 PM

Once the mall opens on Friday September 15 it will be competing with Robinsons Place Palawan Chinatown Center Palawan NCCC Mall and LRC 908 Market Mall

ITS FIRST. SM City Puerto Princesa will have 3 levels of retail and dining floors, a supermarket, 3 158-seater SM digital cinemas, and two 48-seater Director's Club cinemas. File photo Rappler

Ayala Land's 'next BGC' Arca South to take shape by 2019

Sep 13, 2017 - 1:05 PM

The real estate firm is applying the lessons learned from Bonifacio Global City as it develops another mixed use estate in Taguig City

ABS-CBN begins cinema management as part of DoubleDragon partnership

Sep 12, 2017 - 10:40 PM

The media giant opens two of the 10 planned cinemas it will operate in DoubleDragon Properties CityMalls

Photo courtesy of ABS-CBN

BPI ties up with WorldRemit to target OFW remittances

Sep 12, 2017 - 8:15 PM

The partnership with the UK based firm allows BPI to expand its international fund transfer service offerings

Insolvent Air Berlin scraps flights over 'ill' pilots

Sep 12, 2017 - 5:19 PM

Air Berlin filed for insolvency in mid August after its main shareholder Gulf carrier Etihad pulled the plug on its cash lifeline

BARELY SURVIVING. An Air Berlin plane is pictured on the tarmac at the Tegel airport in Berlin on August 15, 2017. Odd Andersen/AFP

DBP open to unload MRT3 interests

Sep 12, 2017 - 3:15 PM

A new owner and operator for Metro Rail Transit Line 3 MRT3 is in the books of the Philippine government This is to give the railway proper upgrade and maintenance

COMMUTERS' ORDEAL. During rush hour, MRT3 passengers endure long lines and jampacked trains. Rappler file photo

Razon sells 350 million shares in Solaire operator

Sep 12, 2017 - 1:51 PM

The chief of the casino operator says increased liquidity in the stock will be beneficial for investors and the company

CONFIDENT. 'I am very confident of the prospects for Bloomberry,' billionaire businessman Enrique Razon Jr. Photo courtesy of Forbes

Some banks suspend operations due to Tropical Depression Maring

Sep 12, 2017 - 1:22 PM

Here s a list of banks with limited operations in areas affected by Tropical Depression Maring

PHINMA Energy to file case against PSALM

Sep 11, 2017 - 11:00 PM

The case is to stop PSALM from removing PHINMA Energy as administrator of a 40 megawatt geothermal power plant in Leyte

Eagle Cement expands deal with construction giant EEI

Sep 11, 2017 - 10:00 PM

With its pipeline of projects EEI believes Eagle Cement s soon to be expanded capacity will be a valuable asset to its construction business

STRATEGIC ALLIANCE. The new deal is set to strengthen the two companies' existing partnership, as Eagle expands the EEI projects that will be supplied by the cement firm. File photo by Eagle Cement

AirAsia announces seat sale, 2 new routes

Sep 10, 2017 - 10:20 PM

The seat sale will be from September 11 to 17 while the airline will start flying from Manila to Iloilo in October and from Davao to Kuala Lumpur Malaysia in December

Cebu Landmasters invests more in Cagayan de Oro

Sep 08, 2017 - 4:45 PM

Cagayan de Oro is one of the key sites identified by Cebu Landmasters for its expansion in the Visayas and Mindanao

2ND PROJECT. This will be the 2nd project of Cebu Landmasters in Cagayan de Oro after MesaVerte, a 3-tower condominium that has already sold 95% of its inventory of 798 units. File photo

DOJ clears Philrem officials in Bangladesh Bank heist

Sep 07, 2017 - 10:35 PM

But the Department of Justice junks the appeal of former RCBC branch manager Maia Deguito who faces money laundering charges

CLEARED. Philrem president Salud Bautista appears before a Senate hearing in 2016 and claims she was instructed by RCBC-Jupiter branch manager Maia Deguto to convert and transfer stolen funds. Photo by LeAnne Jazul/Rappler

San Miguel to build industrial estate in Cebu

Sep 07, 2017 - 7:27 PM

The industrial estate in Mandaue City will house a processed foods plant feed mill and port terminal

KEY INVESTMENT. 'This major development is an important part of San Miguel's current expansion in key regions nationwide,' SMC chief Ramon Ang says. Photo by Martin San Diego/Rappler

Nokia announces nearly 600 job cuts in France

Sep 07, 2017 - 5:26 PM

The cuts in France will be focused on administrative and support services and will not effect research and development as it refocuses on high speed 5G telecom networks cybersecurity and internet linked appliances the group says

NOKIA. The headquarters of Finnish telecommunication network company Nokia are pictured in Espoo, Finland on April 27, 2017. Photo by Vesa Moilanen / Lehtikuva / AFP

$7-B Metro Manila subway to be extended to NAIA

Sep 06, 2017 - 6:10 PM

From an earlier projection of 4 4 billion P225 17 billion the cost of the proposed subway goes up to 7 billion P358 25 billion

Mindanao construction boom to pull migrants back from Manila

Sep 05, 2017 - 9:38 PM

There is a shortage of manpower given the demands of the growing number of construction and development projects on the island

World-famous island in Bohol gets 24-hour electricity supply

Sep 05, 2017 - 7:10 PM

Balicasag an island in Bohol province famous for diving snorkelling and whale and dolphin watching used to have power only from 6 pm to 11 pm

DIVING DESTINATION. Aerial shot of Balicasag Island, located off the western coast of Panglao Island in Bohol. Photo courtesy of Philippine Coast Guard-Panglao

ERC approves Visayas-Mindanao grid interconnection deal

Sep 05, 2017 - 3:05 PM

The goal is to have a single national grid which is expected to help improve the overall security of power supply as sharing of reserves would become possible

INTERCONNECTION SOON. The project is envisioned to be finished by 2020, assuming all regulatory approvals are secured on time. Rappler file image

DMCI founder David Consunji dies

Sep 05, 2017 - 6:25 AM

UPDATED David Consunji the Philippines 6th richest man established DMCI in 1954 and turned it into one of the top conglomerates in the country

Globe's GCash partners with Hong Kong-based EMQ for remittances

Sep 04, 2017 - 8:50 PM

With the partnership EMQ users can now send funds to GCash account holders

Chelsea Logistics offers to buy Starlite Ferries

Sep 04, 2017 - 2:00 PM

Dennis Uy says the planned acquisition will bring Chelsea Logistics a step closer to fulfilling its growth commitment

PLANNED ACQUISITION. Starlite and its subsidiaries have 14 vessels in the fleet, of which 5 are RORO passenger vessels that were acquired in 2016 and 2017. Photo from Starlite official website

Fitch upgrades PLDT outlook amid improved finances

Aug 31, 2017 - 9:20 PM

The telco s long term local currency issuer default rating LC IDR outlook is raised to stable from negative – a sign of improving financial performance

UPGRADED. The telecommunications giant’s long-term foreign currency issuer default ratings (LC IDR) outlook was raised to stable from negative, Fitch says. This signals continued improvement in its financial performance. Rappler file image

Pangilinan-Ayala group eyes MRT3 takeover by early 2018

Aug 31, 2017 - 8:25 PM

The group hopes to operate maintain and rehabilitate the Metro Rail Transit Line 3 for 32 years Will its unsolicited proposal be approved?

NEW OPERATOR SOON? MRT3 is currently being maintained by Korean-Filipino firm Busan Universal Rail Incorporated (BURI), while the system's rail replacement is being handled by the government. MRT Corporation owns the system. Photo from the Metrostar Express website

Megaworld set to open P2-B Southwoods Mall in October

Aug 31, 2017 - 7:40 PM

The 3 level mall located in the Southwoods City township will have a 24 hour Food Hall 4 cinemas department store supermarket hardware store toy store and transport hub

Cebu Pacific to add holiday season flights to Japan, Vietnam, Indonesia

Aug 31, 2017 - 5:30 PM

The budget carrier will increase its flights from Manila to Tokyo Osaka and Nagoya as well as Hanoi and Bali beginning 4th quarter of 2017 until the 1st quarter of 2018

Oil down as U.S. refineries struggle from Harvey impact

Aug 31, 2017 - 2:25 PM

The storm caused the closure of refineries in the US oil producing heartland which traders fear will lead to bigger crude stockpiles and push down prices

An oil refinery is shown near Houston following Hurricane Harvey August 29, 2017 in Houston, Texas. Win McNamee/Getty Images/AFP

New Uber chief sees IPO in its future – report

Aug 31, 2017 - 9:23 AM

Freshly hired Uber chief Dara Khosrowshahi meets with employees promising to fight for the company and hinting a stock market debut is in its future

NEW UBER CHIEF. In this file photo, Dara Khosrowshahi, chief executive officer of Expedia, Inc., attends the annual Allen & Company Sun Valley Conference, July 7, 2016 in Sun Valley, Idaho. Drew Angerer/Getty Images/AFP

DoubleDragon to spend over P4 billion for industrial hubs, hotels

Aug 30, 2017 - 6:40 PM

The real estate firm is slated to open its 1st industrial leasing hub before the end of the year

BIGGEST. Hotel 101-Davao will be the largest hotel in Mindanao with 519 hotel rooms, a commercial and retail strip, and facilities to for conventions. Photos courtesy of DoubleDragon

San Miguel completes new STAR Tollway bridge

Aug 30, 2017 - 6:15 PM

The new bridge replaces the 231 meter long bridge along the STAR Tollway which was damaged due to the onslaught of Typhoon Nina Nock ten last December

NEW BRIDGE. STAR Tollway has 6 interchanges and starts at the intersection of Maharlika Highway and the South Luzon Expressway in Sto. Tomas, Batangas; and runs south to Batangas City. It connects directly to the Diversion Road leading to the Batangas International Port. Photo from www.sanmiguel.com.ph

Uber hires Dara Khosrowshahi as new CEO

Aug 30, 2017 - 10:52 AM

UPDATED Uber is hoping he will now slip into the driver s seat at the controversy battered ride sharing service and steer it along a similarly glorious route as he did with Expedia

NEW UBER CHIEF. In this file photo, Dara Khosrowshahi attends the Allen & Company Sun Valley Conference on July 6, 2011 in Sun Valley, Idaho. Scott Olson/Getty Images/AFP

LBC in talks to acquire logistics firms

Aug 29, 2017 - 8:10 PM

While LBC does not identify the groups it is in talks with the firm says it is interested in acquiring additional logistics support to complete its supply chain

GROWING. LBC is in advantage stage of negotiations with a regional and a local player for possible acquisitions. Rappler graphics

JTI-Mighty Corp buyout, Rockwell-Mitsui venture get PCC nod

Aug 29, 2017 - 7:10 PM

The Philippine Competition Commission says neither of the deals would hurt consumers

PSE buys IHAP's stake in PDS Holdings

Aug 29, 2017 - 4:37 PM

The acquisition is part of the planned unification of equities and fixed income exchange

PDS MERGER. Under the share purchase agreement, PSE will buy IHAP’s 0.5831% interest in PDS Holdings. This will boost PSE's stake in the operator of the country's fixed income exchange to 53.36%. File photo