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Coca Cola 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 retrenchment 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

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

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

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

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

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

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

Cebu Pacific to fly directly to Batanes

Feb 12, 2018 - 4:45 PM

The Gokongwei-led carrier's subsidiary Cebgo will fly once daily between Manila and Basco, Batanes starting March 25, 2018 until October 27, 2018

DICT raises concerns over NGCP's fiber optic network offer

Feb 11, 2018 - 11:50 PM

DICT Acting Secretary Eliseo Rio Jr reacts to the National Grid Corporation of the Philippines' open letter to President Rodrigo Duterte

Cavite-Tagaytay-Batangas Expressway project seen to move forward in February

Feb 11, 2018 - 7:45 PM

It would only take less than an hour for motorists from Manila to reach Tagaytay once the 49-kilometer Cavite-Tagaytay-Batangas Expressway (CTBEX) is built

PROPOSED TOLLWAY. The proposed project is a 47-kilometer tollway, with a two-by-two lane carriageway traversing mostly the rural areas of Silang, Tagaytay, Amadeo, Mendez, Alfonso and Magallanes, in Cavite; as well as Nasugbu in Batangas. Image from DPWH website

PAL certified as 4-star airline

Feb 09, 2018 - 12:18 PM

The Philippine flag carrier earns the rating upgrade from London-based Skytrax after an extensive audit of its in-flight and on-ground services. It joins 40 other airlines on the list.

RATING UPGRADE. PAL President Jaime Bautista poses for a photo with Skytrax CEO Edward Plaisted following the official awarding of the upgrade in a ceremony in Singapore on February 8, 2018. Photo from PAL

First phase of Cavite-Laguna Expressway to open in December

Feb 08, 2018 - 7:45 PM

The first 7 kilometers of the Cavite-Laguna Expressway (CALAX) is set to be opened to motorists by end-2018, ahead of the initial target of February 2019

CALAX. The 1st 7 kilometers (kms) of CALAX is seen to be opened to motorists by December 2018, instead of earlier target of February 2019. Photo by Chrisee Dela Paz/Rappler

Globe in talks for independent cell tower firm

Feb 08, 2018 - 3:40 PM

Globe president Ernest Cu also says the firm is looking at divesting all or part of its tower assets to independent tower companies

All-time high levels of fraud and cyber issues plague industries today – report

Feb 08, 2018 - 3:29 PM

The 10th annual Kroll Global Fraud Risk Report outlines the risks industries and organizations now have to face

RCBC eyes lawsuit against Bangladesh Bank over heist claims

Feb 08, 2018 - 3:00 PM

This comes after the Bangladesh central bank's announcement that it would sue the listed Philippine bank over alleged involvement in the $81-million cyber heist

NGCP offers to let DICT use fiber optic network for free

Feb 07, 2018 - 6:30 PM

The National Grid Corporation of the Philippines writes an open letter to President Rodrigo Duterte, saying it is 'willing and eager' to help develop the National Broadband Network

Ayala-led IMI's net income rises by 21% in acquisition-filled 2017

Feb 07, 2018 - 3:45 PM

The global manufacturer's revenue is also up $1.09 billion for 2017, with two major European acquisitions bringing in a combined $193.9 million

DPWH to auction off Quezon-Bicol Expressway project by end-2018

Feb 07, 2018 - 3:05 PM

Department of Public Works and Highways targets to finish the construction of the proposed Quezon-Bicol Expressway (QBEX) by 2026

NEW EXPRESSWAY. Once completed, the proposed Quezon-Bicol Expressway will be a faster alternative to the congested Maharlika Highway – which is also more than 200 kilometers. Image from DPWH website

PLDT to give up Cure frequencies 'at no cost'

Feb 07, 2018 - 1:20 PM

(UPDATED) This comes after President Rodrigo Duterte publicly threatened to send tax auditors to telecommunications companies demanding payment for returning radio frequencies to the government

AT NO COST. PLDT chief Manuel Pangilinan agrees not to be compensated for the surrendered Cure frequencies, DICT acting chief Eliseo Rio Jr says. Photo by Alecs Ongcal/Rappler

Duterte order on Cure frequencies for 3rd telco contradicts PLDT-NTC deal

Feb 06, 2018 - 9:45 PM

A 2011 agreement states that the National Telecommunications Commission would bid out the surrendered Cure frequencies, with PLDT being given monetary compensation. President Rodrigo Duterte now refuses to give that compensation.

3RD TELCO ISSUE RAISED. President Rodrigo Roa Duterte presides over the 22nd Cabinet Meeting at the Malacañan Palace on February 5, 2018. Malacañang photo

Globe Telecom expects to sustain high capital spending until 2020

Feb 06, 2018 - 6:10 PM

The Ayala-led telecommunications giant projects between $850 million and $900 million as annual capital spending budget until 2020

HIGH CAPEX. 'Majority of the company's capex for 2018 is geared to meet customer demand for more bandwidth-intensive content, which, in turn, will support the revenue momentum of our data-related services,' Globe chief Ernest Cu says. Photo by Josh Albelda/Rappler

SC denies Ayala Land's motion for reconsideration on prime Las Piñas lot

Feb 06, 2018 - 4:30 PM

Ayala Land reiterates that it does not expect the Supreme Court ruling to 'have any material effect on [its] business, operations, and financial conditions'

Asia markets awash with red as rout spreads globally from Wall Street

Feb 06, 2018 - 3:36 PM

Tokyo led a collapse throughout the region, briefly diving almost 7% before closing down 4.7%. Hong Kong was down more than 4% and Sydney and Singapore each sank 3%

RED BOARD. A man gestures as he looks at stock price movements on a screen at a securities company in Beijing on February 6, 2018. Greg Baker/AFP

Del Monte Philippines plans P16.7-billion IPO

Feb 06, 2018 - 3:21 PM

The local unit of fruit grower and canner Del Monte Pacific is the first company to file for an initial public offering (IPO) with the Securities and Exchange Commission this 2018

Wall Street stocks plunge in chaotic session

Feb 06, 2018 - 6:22 AM

(UPDATED) US stocks have been under pressure for the last week as investors weigh the risks of more Federal Reserve interest rate hikes following strong economic data

BLEEDING. The closing numbers are displayed after the closing bell of the Dow Industrial Average at the New York Stock Exchange on February 5, 2018 in New York. Bryan R. Smith/AFP

Broadcom sweetens bid for Qualcomm to $121 billion

Feb 05, 2018 - 11:20 PM

The price hike steps up the pressure on California-based Qualcomm, the dominant producer of chips for mobile devices, which is set to hold its annual shareholders meeting next month

BPI net income up slightly to P22.42 billion in 2017

Feb 05, 2018 - 7:20 PM

The Ayala-led bank's net income for the entire 2017 inches up by 1.7%, lifted by its 4th quarter net income which grew 14.9%

China looks to stamp out cryptocurrency trading

Feb 05, 2018 - 6:30 PM

Faced with Chinese citizens who continue to trade cryptocurrency on platforms operated beyond the country's reach, or take part in initial coin offerings, authorities will 'ratchet up oversight in a sustained manner,' the report says

Dubai airport retains top international spot in 2017

Feb 05, 2018 - 4:21 PM

Dubai airport was the world's busiest for international passengers in 2017 for the fourth year running, with 88.2 million travelers

BUSY AIRPORT. A picture take on September 14, 2017 shows Emirates planes parked at the tarmac at Dubai's International Airport. Giuseppe Cacace/AFP

Megaworld set to open Festive Walk Mall in Iloilo

Feb 05, 2018 - 4:05 PM

The P2.2-billion, 3-level mall at the Iloilo Business Park is opening this coming April

Photo by Megaworld

IATA chief warns about rising cost of airport expansion

Feb 05, 2018 - 2:36 PM

The 'skyrocketing' costs of expanding airport infrastructure must be controlled to keep flight tickets affordable, the boss of airline industry group IATA warns

BUSY TARMAC. Various commercial aircraft are seen parked on the tarmac at the Changi International airport in Singapore on October 31, 2017. Roslan Rahman/AFP

AirAsia launches 3 domestic flights to, from Clark

Feb 05, 2018 - 2:15 PM

This is in line with the airline's commitment to make the Clark International Airport its main hub for operations

PLDT sets aside over P150 billion for expansion until 2020

Feb 04, 2018 - 11:30 PM

PLDT chairman and CEO Manuel Pangilinan says that for every P1 of service revenue, the telco reinvests 30 to 35 centavos to 'super-charge' its fixed and mobile networks

Quicker security screening now available for PAL passengers from U.S.

Feb 04, 2018 - 9:30 PM

Eligible passengers who are on Philippine Airlines flights from Los Angeles, San Francisco, New York JFK, Honolulu, and Guam no longer have to remove their shoes, belts, and jackets at TSA checkpoints

BECOMING 5-STAR. PAL is currently rated as 3-star airline by London-based air transport rating organization Skytrax. Photo from PAL Corporate Communications

DOE: No need to raise PUV fares despite higher fuel tax

Feb 03, 2018 - 11:02 PM

Energy Assistant Secretary Leonido Pulido III says that 'based on the increase in the existing tax law, there should be no immediate need to raise PUV fares'

Sony profits soar more than tenfold, forecast revised up

Feb 02, 2018 - 5:18 PM

With its financial health back on track after years of deep losses, Sony says its chief executive Kazuo Hirai would step down after overseeing a successful overhaul

SONY. This picture shows the logo of Japan's Sony Corp. displayed in a window of the company's showroom in Tokyo on February 2, 2018.  Photo by Kazuhiro Nogi/AFP

Globe tightens rules on 3rd parties to protect vs 'nakaw-load'

Feb 02, 2018 - 3:42 PM

'We want to assure our customers that we have clauses in our contracts with partner content providers which penalize those who resort to fraud,' says Globe Telecom

Construction of LRT1 Cavite extension to start mid-2018

Feb 01, 2018 - 5:50 PM

LRT1 operator Light Rail Manila Corporation also says there will be no fare hike surprises as the train system is upgraded and expanded

EXTENSION. Light Rail Manila took over the operations, maintenance, and extension of LRT1 in September 2015, after bagging the P64.9-billion ($1.36-billion) LRT1 Cavite Extension deal. Photo by Mick Basa/Rappler

DoubleDragon, partners to build PH's 'biggest' hotel in Boracay

Feb 01, 2018 - 1:55 PM

Hotel101 Resort-Boracay will have 1,001 rooms and will be located in Megaworld's 150-hectare Boracay Newcoast estate

image from DoubeDragon

Ericsson rings up huge losses in 2017

Jan 31, 2018 - 6:47 PM

The news sends Ericsson's share price tumbling nearly 9% on the Stockholm stock exchange in early trading, in a flat market

San Miguel raising P30 billion to fund obligations, invest more

Jan 31, 2018 - 6:40 PM

The conglomerate has been refinancing its dollar-denominated debts as the peso continues to weaken against the dollar and interest rates rise

PESO BOND OFFERING. The conglomerate's latest planned fund-raising activity represents the 3rd tranche of the conglomerate’s P60-billion bond shelf registration previously approved by the SEC. File photo by AFP

Pancake House to open in Saudi Arabia

Jan 31, 2018 - 5:25 PM

Max's Group says it has teamed up with a Saudi Arabian property and mall developer to open 12 Pancake House stores within 5 years

NLEX to add lane in San Fernando interchange

Jan 31, 2018 - 4:40 PM

NLEX's expansion project will widen the 336-meter northbound exit ramp heading towards Pampanga's capital city, increasing the number of deceleration lanes to two

NEW LANE. NLEX's additional lane is seen to benefit motorists, merchants, and commuters going to San Fernando City in Pampanga from Bulacan and Manila. Photo from NLEX Corporation

Ayala turns over new drug rehab center to Marawi LGU

Jan 31, 2018 - 1:31 PM

The P30-million Siyapen Center is the first community-based drug rehabilitation center in the ARMM

SIYAPEN CENTER. A new drug rehabilitation center in Marawi City. Photo by Bobby Lagsa/Rappler

Samsung Electronics reports record Q4 and full year profits

Jan 31, 2018 - 11:02 AM

Increased shipments of OLED panels like the ones on Apple's iPhone X contribute to a 73% jump in Samsung's fourth quarter net profit

GAINS. Samsung reports record profits for the last quarter of 2017. File photo by Ed Jones/AFP